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Singapore police launch investigation after news of Hin Leong losses

SINGAPORE (Reuters) - Singapore police said they have launched an investigation following news that the founder of Hin Leong Trading Pte Ltd (HLT) had told the company not to disclose hundreds of millions of dollars in losses over several years.

The Singapore Police Force did not specify the focus of the investigation and declined to elaborate.

“The police confirmed that investigations are ongoing,” Singapore Police Force told Reuters in an email late on Monday, in response to queries about the company’s losses and whether Singapore’s Commercial Affairs Department, a police unit, was in contact with HLT or the company’s founder Lim Oon Kuin over the matter.

In a court filing reviewed by Reuters, Lim said he had directed HLT, one of Asia’s top energy traders, not to disclose hundreds of millions of dollars in losses over several years.

Last week, HLT filed for a debt moratorium in Singapore after it began talks with creditors, two sources told Reuters.

Reporting by Anshuman Daga; Editing by Neil Fullick

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