Singapore's High Court on Monday approved an application to wind up collapsed oil trading firm Hin Leong Trading Pte Ltd, marking the end of what was once one of Asia's top oil traders, three sources familiar with the matter said.
SINGAPORE: Singapore's High Court on Monday approved an application to wind up collapsed oil trading firm Hin Leong Trading Pte Ltd, marking the end o.
Exclusive: Oil trader GP Global APAC seeks debt moratorium in Singapore reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
Oil trader GP Global APAC seeks debt moratorium in Singapore | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
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SINGAPORE (Reuters) - Oil trader GP Global APAC Pte Ltd has applied to the Singapore High Court for a six-month debt moratorium as its parent company seeks to restructure more than $1 billion dollars in debt, according to a company director, lawyers and a court document.
The parent, GP Global - a major global oil trader and ship fuel supplier based in the United Arab Emirates - said in July it would restructure the group s debt by selling assets after lenders scaled back credit.
GP APAC, which has missed loan payments in recent months, joins a string of defaults among Asian oil trading companies - including Singapore s Hin Leong Trading Pte Ltd, one of Asia s biggest bunker fuel suppliers - in the wake of last year s pandemic-driven crash in oil prices.