Asia/Pacific News
Banks' Exposure to Hin Leong Totals at Least $3 Billion: Bloomberg
Wednesday April 15, 2020
Singapore-based oil trading firm Hin Leong owes a combined total of at least $3 billion to its lenders, according to news agency Bloomberg.
As many as 10 banks have exposure to the firm, Bloomberg reported Wednesday, citing people with knowledge of the matter.
Last week the news agency reported two banks were declining to issue new letters of credit to Hin Leong.
The company has not yet made any official comment on the matter, and representatives have not been available for comment when contacted by Ship & Bunker.
Hin Leong's marine fuels unit, Ocean Bunkering, was the third-largest accredited bunker supplier by volume in Singapore last year.
