Hin Leong
Corporate brand
UnclaimedMajor Singapore oil trading company that filed for bankruptcy in 2020 due to financial fraud.
Last updated October 27, 2026
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Overview
Hin Leong is a major Singapore oil trading company founded by Lim Oon Kuin in 1963. It was once one of Asia's largest independent oil traders, but in 2020 it filed for bankruptcy due to hidden massive losses and financial fraud. The incident led to the company's collapse and sparked widespread attention on commodity trade financing.
Products and positioning
Once a leading independent oil trader in Asia
Product categories. Oil trading · Marine fuel · Petroleum products
Controversies
2020
HSBC sues over alleged Hin Leong fraud
In a reported controversy involving Hin Leong, HSBC filed a lawsuit against the Lim family and an employee of the company. The bank seeks to recover $85.3 million that it alleges was obtained through forged documents. The matter is presented as an allegation rather than an established determination; the report does not state that the claims have been proven or adjudicated. The event concerns a legal action brought by HSBC over the alleged use of forged documents to obtain the funds, with the Lim family and one Hin Leong employee named as defendants in the suit.
Recent events
Reported
Hin Leong sues Deloitte over alleged audit failures[2]
Hin Leong Trading sued Deloitte & Touche LLP, alleging that the auditing firm failed to detect serious irregularities and material misstatements in its financial statements. The allegations are claims in the lawsuit; the supplied report does not establish a court determination.
- Unconfirmed
HSBC sues over alleged Hin Leong fraud[1]
HSBC is suing the Lim family and an employee of Hin Leong, seeking to recover $85.3 million that it alleges was obtained with forged documents. The allegations are reported as allegations, not as an established determination.
- Unconfirmed
Reported
UniCredit sues Hin Leong and Glencore over oil deal[3]
UniCredit sued Hin Leong over a letter of credit and also sued Glencore in connection with the matter. UniCredit alleged in court documents that same-day sale-and-buy-back transactions made the purchase a sham and deprived it of security over the financed goods.
Sources3 sources
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