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DBS, OCBC, UOB likely to record impairments owing to Hin Leong Trading bankruptcy: Phillip Securities

Banking & finance

DBS, OCBC, UOB likely to record impairments owing to Hin Leong Trading bankruptcy: Phillip Securities

Jeffrey Tan Published on Wed, Apr 22, 2020 / 2:58 PM GMT+8

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SINGAPORE (April 22): The bankruptcy filing by Hin Leong Trading (HLT), a major oil trading firm in Singapore, is set to hit the three local banks, according to Phillip Securities.

DBS, OCBC and UOB, respectively, have exposure of US$290 million, US$240 million and US$140 million to HLT in secured lending.

These amounts are likely to be impaired, warns the brokerage.

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DBS, OCBC, UOB likely to record impairments owing to Hin Leong Trading bankruptcy: Phillip Securities

Banking & finance

DBS, OCBC, UOB likely to record impairments owing to Hin Leong Trading bankruptcy: Phillip Securities

Primary tabs

Error message

DBS, OCBC, UOB likely to record impairments owing to Hin Leong Trading bankruptcy: Phillip Securities

Banking & finance

DBS, OCBC, UOB likely to record impairments owing to Hin Leong Trading bankruptcy: Phillip Securities

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