Banks face major losses on Hin Leong after potential buyers have withdrawn

Banking majors are set to lose big on commodity trader Hin Leong if they cannot find a buyer for the company. Most recently, three potential bidders have withdrawn, reports Bloomberg.

Photo: Colourbox / arkivfoto

Several large banks stand to get very little back if they do not succeed in finding a buyer to take over the remnants of collapsed commodity trader Hin Leong.

Last week, news outlet Bloomberg reported that Hin Leong's court-appointed management planned to file a petition to wind up the company this week.

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