The oil trading enterprise is showing its slimy and murky underbelly. The Asian oil markets have been known to be seedy, manipulative, and according to some, dishonest. After all, Asia’s oil market is a multi-billion dollar business, rife with volatility, risk, and temptation.
No one suspected that one man, Lim Oon Kuin, one of Asia’s famous oil tycoons and traders was in trouble…dangerously and perilously walking a financial tightrope.
The story of the unforeseen collapse of Singapore’s Hin Leong oil company is filled with lies, deceit, miscalculation, forgery, and failed leadership. At the center of the collapse is Lim Oon Kuin, who, decades ago, began his meteoric rise in the Asian oil business as one man selling oil from a truck.
This forms the backdrop for the mysterious collapse of one of Asia’s most renowned and successful oil companies, Hin Leong, a giant in Asia’s oil trading industry. But an epic gamble by its founder Lim Oon Kuin left the Singaporean company badly exposed, eventually leading to its collapse.
This story is told here by Bloomberg’s Quicktake journalists, Alfred Cang, Senior Reporter, and Serene Cheong, Reporter.
Featured Image by Guo Xin Goh Unsplsh.com, Modified by iVoteAmerica.
Story source credit: BloombergNews.com, Alfred Cang, Senior Reporter, and Serene Cheong, Reporters