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Singapore to tighten up with new financial code of conduct in the wake of oil scandals

Singapore's Trade Minister Chan Chun Sing heralds several new initiatives aimed at restoring trust in the city state's scandal-stricken commodity market. New financial code of conduct is one of the measures.

Photo: Roslan Rahman/AFP/Ritzau Scanpix

A couple of spectacular scandals this year among Singapore's major commodity traders have sent international banks' trust in the city state's big commodity market to rock bottom.

But Singapore's government now heralds new measures aimed at attempting to create renewed trust in Singapore, which is home to the world's biggest bunkering port as well as being Southeast Asia's oil refinery hub.

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