Police open investigation into Hin Leong

The police now enter the case surrounding Singapore-based oil trading group Hin Leong Trading, which has been hiding losses on oil price speculation. The group is currently struggling to survive.

Photo: Edgar Su/Reuters/Ritzau Scanpix

Singapore police have opened an investigation in oil trading group Hin Leong Trading, which for years has been hiding major losses incurred from oil price speculation, Reuters writes.

The founder's son and co-owner of Hin Leong, Lim Chee Meng, revealed on Friday that the company has been hiding losses of around USD 800 million, which have been left out of the firm's accounting.

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