Serious Hin Leong Trading.. Singapore's largest pte ltd..Going COLLAPSE!...

[JurongEast]

Singapore oil trader Hin Leong owes banks at least $4.25 billion

Founded by legendary self-made Chinese tycoon Lim Oon Kuin, Hin Leong could be the latest casualty of the collapse in oil prices and a heightened caution among lenders to finance commodity trades.

The company was established in 1963 and has grown into one of Asia's largest suppliers of ship fuel, or bunkers. OK Lim, as the founder is known, built the company from a one-man-one-truck oil dealer to a regional powerhouse with assets including 130 vessels and businesses across oil trading, terminal and storage, bunker supply and lubricants manufacturing, according to its website.

 

[JurongEast]

 

[Kee Chew]

4.25bn not counting others creditors like Suppliers etc...

 

[JurongEast]

https://vulcanpost.com/658121/forbes-2019-billionaires-singapore/
#1349 – Lim Oon Kuin, US$1.7 billion

most likely he was cheated by China. Invested in PetroChina and now he is going to die soon

• At age 20, Lim founded Hin Leong Trading with a single truck delivering diesel to fishermen and small rural power producers
• Founded in 1963, Hin Leong is one of Singapore’s largest independent oil traders today
• The group’s shipping arm, Ocean Tankers, owns a fleet of over 130 tankers and is run by his son Evan
• Lim also co-owns oil storage unit Universal Terminal with PetroChina

 

[nightsafari]

most likely he was cheated by China. Invested in PetroChina and now he is going to die soon

most likely. China full of cheats.

 

[syed putra]

Hin leong if he can store his fuel for maybe 1-2years, may recover. Banks will,of course support him.
Or at least, minimise losses for the banks.

 

[nightsafari]

4.25bn not counting others creditors like Suppliers etc...

not all creditors? total sum how much??

 

[rotiprata]

Simple theft of the ship’s fuel that’s hard to detect.
Sg is world top bunkering port that is why PAP turns a blind eye to the blatant corruption in this industry

these're OPL transactions, nothing the cheng-hu can do..

 

[krafty]

it's quite sad that rags to riches story didn't come to a good ending.

 

[Nice-Gook]

it's quite sad that rags to riches story didn't come to a good ending.

people in such hedging buisness knows how to take care of themselves ..the owners may not be rich anymore but can still live like rich

 

[krafty]

people in such hedging buisness knows how to take care of themselves ..the owners may not be rich anymore but can still live like rich

he may be forced to sell all assets and stay humbly in one of the apartments, no more freehold bungalows.

 

[Nice-Gook]

he may be forced to sell all assets and stay humbly in one of the apartments, no more freehold bungalows.

you may be right about guys in SME...but the big operators know where to keep their loot...politicians in power too operare similarly ...the very reason why swiss bank secret accounts operate ...there are specialised lawyers and accountants there to teach you the ropes for a hefty price ..

 

[mahjongking]

it's quite sad that rags to riches story didn't come to a good ending.

you kidding me?? sad is the food vendor in poor countries instead of earning 200 usd a month now because of this virus, only manage to earn 50 usd a month....

 

[congo9]

To be able to owe $3Billlion in your life time and being forced bankrupt is really an honor and it ain't simple at all to be able to be owed 3 billion by the banks. No one can help you clear this shit, next best thing is that if you can't clear the shit, you ask the banks to force sell all your asset and you declare a bankrupt. But I am quite sure if you can be owed 3billlion, you must be able to siphoned at least $100 million somewhere which is out of reach of banks and creditors.

The banks are in the business of lending money and their product/service is in the forms of loan and credit services. I would say it's just business as usual. Banks loses and maketh money all the time. So need not be too sad for the owner or sad for the banks. They need each other to survive.

I have a friend who is a banker told me he dislike people who run money which belongs to the banks as loans. But come on, you as a banker got to be objective. You guys need each other to survive. It's just business.

 

[Nice-Gook]

To be able to owe $3Billlion in your life time and being forced bankrupt is really an honor and it ain't simple at all to be able to be owed 3 billion by the banks. No one can help you clear this shit, next best thing is that if you can't clear the shit, you ask the banks to force sell all your asset and you declare a bankrupt. But I am quite sure if you can be owed 3billlion, you must be able to siphoned at least $100 million somewhere which is out of reach of banks and creditors.

The banks are in the business of lending money and their product/service is in the forms of loan and credit services. I would say it's just business as usual. Banks loses and maketh money all the time. So need not be too sad for the owner or sad for the banks. They need each other to survive.

I have a friend who told me he dislike people who run the money belongs to the banks as loans. But come on, you as a banker got to be objective. You guys need each other to survive. It's just business.

many a times its the very banks that is the very culprit for such bankruptcies ...you see ,banks are in the business to lend otherwise they cannot service the interest on deposits neither their own keeps itself...but again they won't want to risk lending to many thus not able to follow or do the hard leg work ...so ,a known devil is better than an unknown angel sort of saying ...than the chap in charge of the portfolio has alao a quota to meet ...the end result is they keep on pushing companies they are familiar with more and more loan facilities ...than there is such thing as one bank selling loan to another and on...that is how the subprime crisis exploded.

but genuine SMEs get short changed ...as one bankrupt once famously said bank are in the buisness to take away your umbrella during rainy days

 

[syed putra]

Poor guy got caught with huge amount if oil products while prices collapsed. That is all. If prices rise again, he can settle everything.

 

[JohnTan]

I know the family running Hin Leong. I supposed a year from now, we'll no longer in the same social circles. It would be hard to get use seeing them deliver my food or guarding one of my condos.

 

[Nice-Gook]

Poor guy got caught with huge amount if oil products while prices collapsed. That is all. If prices rise again, he can settle everything.

knowing something about banking and bankers ...i don't think that is the case..though i pretty much donch now how hin leong operates

if they are stuck with stocks, meaning oil,and that too non perishable...than its a pretty safe bet...hence ,most likely the problem could be cash flow ...banks usually pretty much underwrite this ...unless ,the stock depreciatea very badly ..but even than ,such situation can be negotiated with banks...especially ,if they have a track record of years of trading in such volatile market .

you see ,banks too cannot afford to foreclose big coporations as they do to individuals

 

[syed putra]

knowing something about banking and bankers ...i don't think that is the case..though i pretty much donch now how hin leong operates

if they are stuck with stocks, meaning oil,and that non perishable...than its pretty safe bet...hence ,most likely the problem could be cash flow ...banks usually pretty much underwrite this ...unless ,the stock depreciate very badly ..but even than ,such situation can be negotiated with banks...especially ,if they have a track record of years of trading in auch volatile market .

you see ,banks too cannot afford to foreclose big coporations as they do to individuals

Exactly. Hin leong has plenty of tankers under ocean tankers.supertankers too.
They are merely traders. Middle men. I think china buyers stop taking their stock when prices collapses.its very unethical but that is what China does. Same with india maybe.
So all they have to do is hold the stock until price recovers.

 

[Nice-Gook]

Exactly. Hin leong has plenty of tankers under ocean tankers.supertankers too.
They are merely traders. Middle men. I think china buyers stop taking their stock when prices collapses.its very unethical but that is what China does. Same with india maybe.
So all they have to do is hold the stock until price recovers.

helooo bro,that is not a problem actually ,in bankers eyes...and oil is not a product that cannot be sold that would be sitting in the shelf ...in fact ,there cannot be a better product than oil compared to say coal,which can be burnt to ashes over a time or iron ore ,though not perishable but very dependent on only china as a buyer..

and being a middlemen is not an issue at all so long as your nett assets far outweigh your liabilities

suggest you re think