Singapore said it wants to restore the finance industry’s confidence in commodities trading after a series of scandals recently rocked the sector.
Several trading firms collapsed earlier this year amid a flurry of allegations of fraud and suspect deals after the slump in oil prices sparked by the coronavirus crisis.
Many have involved Singapore - the world’s biggest bunkering port and Southeast Asia’s petroleum refining hub - including Hin Leong, once one of Asia’s largest fuel traders.
