Hin Leong owner's son reveals unaudited losses totaling USD 800 million

In a highly unusual statement, Lim Chee Meng reveals that his father, the owner of crisis-stricken oil trading group Hin Leong Trading, hid losses totaling USD 800 million. The case thus takes a dramatic turn, reveals a court document ShippingWatch is in possession of.

Edgar Su/Reuters/Ritzau Scanpix
The Hin Leong Group owns a large fleet of tankers through its tanker carrier Ocean Tankers. Photo: Edgar Su/Reuters/Ritzau Scanpix

Crisis-stricken oil trading group Hin Leong Trading has hidden unaudited losses amounting to almost USD 800 million for years.

The highly unusual revelation came on Friday from the founder's own son and employee, Lim Chee Meng, in a court document submitted to a court in Singapore.

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