According to the Chinese Dao "reality is built from the beating of opposites". We can't fully comprehend the ocean of mysteries in the Hin Leong affair unless we understand "who hold the bag": the bigger risk, in all this is the banks.
Hin leong trading financial statements (unaudited) (1)
1. Hin Leong Unaudited figures Financial Statement
https://jacquessimon506.wordpress.com/2020/05/03/the-hin-leong-trading-collapse-angels-and-
demons
HLT has suffered about US$800 million in futures losses over the
years, but these were not reflected in the financial statements. I
2. am not personally aware of how and why these losses were not
reflected, as I was not involved in the finance function which was
supervised by my father. I understand from my father that he
gave instructions to the finance department to prepare the
accounts without showing the losses and told them he would be
responsible if anything went wrong. I signed off on HLT’s financial
statements on the instructions of my father.’
'I wish to highlight that the above figures as at 29 February 2020
do not include the potential liability which OTPL now faces as a
result of the bills of lading issued by OTPL in respect of the trades
entered into by HLT. The total exposure in this regard could be as
high as US$2.67 billion'
Affidavit, O.K Lim's son
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