Singapore gets tough on commodity trading practices after series of scandals

Q: How long will it take to read this news story?

The story "Singapore gets tough on commodity trading practices after series of scandals" has 1029 words across 36 sentences, which will take approximately 5 - 9 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Singapore gets tough on commodity trading practices after series of scandals" was covered 2 weeks ago by Financial Times, a news publisher based in United States.

Q: How trustworthy is 'Financial Times' news outlet?

Financial Times is a fully independent (privately-owned) news outlet established in 1888 that covers mostly markets, finance, and investing news. The outlet is headquartered in United States and publishes an average of 8 news stories per day. It's most recent story was published 11 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #24081165</li><li>URL: https://beamstart.com/news/singapore-gets-tough-on-commodity-17332053276720</li></ul>

Financial Times 2w ago

Singapore gets tough on commodity trading practices after series of scandals - Financial Times

Quick Summary:

A common theme of the scandals was dubious paperwork, used to secure credit from financial institutions in order to hide losses and make leveraged bets on commodity prices.

Lim’s company, Hin Leong, collapsed in April 2020 and he admitted hiding $800mn in losses from creditors, which included some of the world’s biggest banks.

Singapore owes its reputation as a global commodities hub to its position on sea lanes that connect China with global markets, along with its government’s business-friendly approach.