Monthly Archive: December 2020

Oil trader Hin Leong has no future as an independent company-PwC

According to a preliminary statement issued by the court’s chief executive officer, Xinglong Trading (Private) in Singapore has no prospect of an independent company. After a “significant risk” benefit from the $3 billion superannuation the latest lawsuit by WaterhouseCoopers Pte Ltd (PwC) Reimbursement Law received in a complaint this week in the High Court of Singapore. A number of fraudulent schemes have been discovered in Singapore’s business crisis and Reuters has reviewed its information. Two sources close to the problem support this finding. It comes from documents from a two-month trial of Xinglong’s investment in the company, as well as interviews with Xinglong employees.

Xinglong and PwC did not respond to requests for feedback via email. A spokesman for Rahah & Tann, counsel for the chief justice of this case, declined to comment. One of Asia’s largest oil producers, Xianliangs, came under scrutiny in April after banks asked for loans due to falling oil prices and global virus prices. It will look at a debt of $3 billion and PricewaterhouseCoopers will address its issues as part of the regulatory process. As of August 31, 2019, the Treasury Department had limited its assets, which included at least $ 2.23 billion in customer deposits, the rate could be ignored.

PricewaterhouseCoopers has partnered with Xinglongs and

The WaterwaterhouseCoopers said in a report: “The division of masks (Xinglong) has accumulated for some years. Lyon currently has $ 3:5 billion in debt and $257 million in assets. PricewaterhouseCoopers said the company was “not in the right position” or expected to clear. However, with the cooperation and cooperation of the Lin family, the org has joined another Xin Lyon-based company, a loan in Xinglong City that has a founder, lim Oon Kuin, 70-year-old Singaput, lim and his son. Lim Chimen (also known as Evan Lim) and daughter Lim Huchin.

PricewaterhouseCoopers has partnered with Xinglongs and other companies or owned by the Lin family. Such as Ocean tanker (Pte) Ltd (OTPL) and its subsidiary, Xihe Group and Universal Group with several smaller ports oil ja, he tells you to do that, time (UGH) at General Oilfield Terminal.

Oil trader Hin Leong has no future as an independent company-PwC

The announcement stipulates that the restructuring will involve the involvement of the Lin family in the form of personal assets. Whic includes, but not limited to, events in OTPL, Xihe Group, UGH and Universal Pictures, needs help. Prince added that he has been in touch with potential attendees and thanked Xinglong and his subsidiaries, Marine Fuel Refueling Sdn Bhd and Xinglongs Ocean International Sdn Bhd for their interest. Investors include investors including state and private companies in China, oil and gas suppliers in the region.

Davinder Singh Chambers LLC and Insurance Insurance Pte Ltd, Family Law and Financial Advisors, did not immediately respond to a request for comment via email. The PwC statement found that the PhC had found evidence that Liang Liang had hidden about $ 808 million in losses over the last 10 years and that 2:1 billion worth of assets were lost. This Xinglongs also invented a “large manufacturing facility”, implying that the customer pays for the business, outlining the value of ownership and collecting debt. The founder of Xinglong OK Im agreed with a file earlier this year to encourage the company to avoid losing millions of dollars in those years.

This PwC data shows that from October 2018 to October 2017, Hinleon owners were paid a total of $ 90 million. PwC added that the investigation will continue after the release of this report (additional information from Florence Tan and edited by Carlo Crimemins).