O.K. Lim, founder and chairman of oil trading group Hin Leong, speaks during an interview with Reuters in Singapore June 5, 2013. - Reuters filepic
SINGAPORE: Millions of dollars of oil stored in tanks and ships in Asia and Europe has become caught in a web of lawsuits related to trade and financing deals by Singapore's Hin Leong Trading (Pte) Ltd, according to court documents and shipping data.
A report filed this week in Singapore's High Court and reviewed by Reuters found Hin Leong obtained financing from various banks for cargoes of oil which did not exist, complicating the competing claims of ownership.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
