The Amsterdam-based lender is the second bank to make a claim linked to Hin Leong. FMTNews ABN Amro Singapore
SINGAPOE: ABN Amro Bank NV has become the latest lender to make a claim against a Singapore oil trading giant that filed for protection from creditors amid a plunge in oil prices.
The Amsterdam-based lender is the second bank to file charges linked to Hin Leong, which owes almost US$4 billion to more than 20 Singaporean and international banks, including HSBC Holdings Plc, DBS Group Holdings Ltd and Standard Chartered Plc. Hin Leong, founded in 1963 by Chinese tycoon Lim Oon Kuin, filed the application for a debt moratorium from Singapore’s High Court on Friday, according to people with knowledge of the matter.ABN Amro didn’t specify the amount owed to the bank in the documents dated April 17. The charges covered include Hin Leong’s bills of landing, air waybills, cargo and warehouse receipts, as well as the goods shipped related to the bank’s credit.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
S'pore oil trader Hin Leong failed to declare US$800 mil lossesHin Leong, Ocean Tankers, said to be facing US$4 bil debts, have filed for court protection from creditors. FMTNews Singapore
Read more »
Johor to refund traders’ Ramadan bazaar deposits | The Malaysian InsightJohor to refund traders’ Ramadan bazaar deposits
Read more »
With Ramadan bazaars closed, traders 'open' them on FacebookCORONAVIRUS | It enables traders to continue plying their business during the fasting month.
Read more »
No more mass returnees from Singapore: Ismail SabriPUTRAJAYA: There are no more large numbers of Malaysians returning home simultaneously from Singapore, according to Senior Minister (Security Cluster)...
Read more »
Singapore reports almost 1,000 new Covid-19 cases in past 24 hours | New Straits TimesSINGAPORE: Singapore’s Ministry of Health (MOH) preliminarily confirmed an additional 942 cases of Covid-19 infection today, bringing the tally for the republic to 5,992.
Read more »
Covid-19: McDonald's Singapore to suspend restaurant operations till May 4SINGAPORE (Bernama): McDonald’s Singapore on Sunday ( April 19) announced that it will suspend its restaurant operations till May 4, including McDelivery and Drive-Thru services.
Read more »