{"id":7944,"date":"2020-04-14T07:11:08","date_gmt":"2020-04-14T04:11:08","guid":{"rendered":"https:\/\/www.al-sindbad.net\/under-pressure-hin-leong-trading-holds-urgent-negotiations-with-its-banks\/7944\/"},"modified":"2020-04-14T07:11:08","modified_gmt":"2020-04-14T04:11:08","slug":"under-pressure-hin-leong-trading-holds-urgent-negotiations-with-its-banks","status":"publish","type":"post","link":"https:\/\/www.al-sindbad.net\/under-pressure-hin-leong-trading-holds-urgent-negotiations-with-its-banks\/7944\/","title":{"rendered":"Under pressure Hin Leong Trading holds urgent negotiations with its banks"},"content":{"rendered":"<p><\/p>\n<p>Singapore oil trading giant Hin Leong Trading has appointed local law firm Rajah &amp; Tann as well as consultancy PwC to handle a liquidity crisis.<\/p>\n<p><\/p>\n<p>Hin Leong is one of Singapore\u2019s largest bunkering names and has a sizeable tanker fleet.<\/p>\n<p><\/p>\n<p>The company has had letters of credit frozen by a number of banks and is now in negotiations with more than 20 banks to keep operations moving normally despite mounting debts.<\/p>\n<p><\/p>\n<p><em>Splash<\/em> understands Hin Leong, established by billionaire OK Lim in 1963, was stuck with a large amount of physical oil it had purchased just before the price of oil nosedived earlier this year.<\/p>\n<p><\/p>\n<p>Officials from Hin Leong Trading and Rajah &amp; Tann have yet to reply to questions sent by<em> Splash<\/em> last week.<\/p>\n<p>splash247<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore oil trading giant Hin Leong Trading has appointed local law firm Rajah &amp; Tann as well as consultancy PwC to handle a liquidity crisis. Hin Leong is one of Singapore\u2019s largest bunkering names and has a sizeable tanker fleet. The company has had letters of credit frozen by a number of banks and is &hellip;<\/p>\n","protected":false},"author":1,"featured_media":7945,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[58],"tags":[3571,4638,4704,4639,4706,4703,1187,4705],"class_list":["post-7944","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tanker-news","tag-banks","tag-hin","tag-holds","tag-leong","tag-negotiations","tag-pressure","tag-trading","tag-urgent"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/7944","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=7944"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/7944\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/7945"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=7944"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=7944"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=7944"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}