The founder of Singapore’s Hin Leong Trading (HLT), Lim Oon Kuin, has been struck with a second charge of abetment in forgery for the purpose of cheating, reports The Business Times.
According to charge sheets filed in the State Courts on Friday (25 September), Lim purportedly “instigated” Freddy Tan Jie Ren, a contracts executive of Hin Leong to write an email with the subject titled “CAO – Sale of gasoil 10PPM sulphur”, with the intention of creating an electronic record of the transaction for the purpose of cheating.
The email was supposedly sent from Hin Leong to China Aviation Oil (Singapore) Corporation on Feb 26 at 4.41pm.
In the first charge, Lim was accused of instigating an employee to forge a document stating that the company had transferred more than 1million barrels of gasoil to China’s state-controlled China Aviation Oil (CAO).
The said document was issued by HLT’s storage arm Universal Terminals and was reportedly used to secure more than $56 million in trade financing from an unnamed financial institution.
Photo credit: Manifold Times
Published: 28 September, 2020
Garren Hay will be responsible for sales of the PANOLIN range of Environmentally Acceptable Lubricants for the Singapore sole distributor agent Gealubes Consulting & Trading Pte Ltd.
Universal Alliance, BMS United, Digiland International, Goodwood Associates, Southernpec (Singapore), and Taigu Energy were involved in alleged circular fictitious trades of fuel oil during July 2015.
Bunker orders of ISO 8217:2010 spec LS 380 cSt 0.5% for Nord Gemini, Nord Titan, Ocean Rosemary, and Luzern were placed through global commodities trading and logistics house Trafigura Pte Ltd.
While Covid-19 concerns are important, Captain Rahul Choudhuri was quick to note this does not mean bunker fuel related issues have indeed disappeared from the shipping sector.
‘Therefore, representing the players of the Malaysian bunker industry, we sincerely hope that this matter can be refined and reconsidered immediately so that all parties benefit together,’ says communication.
Maureen Poh, a Director of Helmsman LLC, offers plain practical tips on the differences between US and EU Sanctions and shares some thoughts on what companies could do if they are potentially exposed to sanctioned entities.