Three Singapore government agencies said the financial troubles of Hin Leong Trading will have no serious impact on the country’s oil trading and bunkering sectors, while its banking system remains sound.
In a joint statement issued on Tuesday, Enterprise Singapore, the Maritime and Port Authority of Singapore (MPA) and the Monetary Authority of Singapore (MAS) said they were closely monitoring developments related to the debt-stricken oil trader as well as the broader oil trading and bunkering sectors.
