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kandinsky Master	26-Jun-2020 11:09        kandinsky About Contact  Quote this Post!
x 0   x 0  Alert Admin	Or hold until everything goes up. Why cut loss and let others pick up your stocks cheap? AlexisLam      ( Date: 25-Jun-2020 16:45) Posted: China got virus we drop, Europe got virus we drop, US got virus we drop. They recover from covid19, We got virus our shares still drop. I think this will keep dropping.. My opinion is sell all or short all are the best solution. Cus it only gain 3-5% in three days but drop 15% or more in three.
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RexxarLoh Member	25-Jun-2020 22:02        RexxarLoh About Contact  Quote this Post!
x 0   x 0  Alert Admin	The graphic is a brief illustration which doesn' t covers the details on the terms and regulations. By age 55 most elders (unless under certain criterias) will be automatically entered into the CPF life. The amount in OA and retirement account will be use to buy the CPF life scheme. The person himself will not get any interest. The government said that the interest earn will be contributed to a reserve that continues to provide payout for those that will live longer and when their cpf life money are used up. FATABA      ( Date: 19-Jun-2020 14:46) Posted: Our CPF has continue to pay a higher rate then the mkt interest ...well done :)  Starship      ( Date: 19-Jun-2020 10:40) Posted: If SG goes negative interest rate, will everyone rush to topup their CPF Accounts to earn more interest?
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AlexisLam Member	25-Jun-2020 16:45        AlexisLam About Contact  Quote this Post!
x 0   x 0  Alert Admin	China got virus we drop, Europe got virus we drop, US got virus we drop. They recover from covid19, We got virus our shares still drop. I think this will keep dropping.. My opinion is sell all or short all are the best solution. Cus it only gain 3-5% in three days but drop 15% or more in three.
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sg_dew Member	25-Jun-2020 16:41        sg_dew About Contact  Quote this Post!
x 0   x 0  Alert Admin	Trading at around 20+. Once it drops below 20, will buy to hold. Waiting for that time to come... question is when :) lighter87      ( Date: 25-Jun-2020 16:32) Posted: The condition now is only suitable for trading, if you are buying to hold for long term, I believe can get much cheaper in the next few months. sg_dew      ( Date: 25-Jun-2020 16:28) Posted: Thanks! Noob here. :) Queued this morning to nibble a bit and didn' t expect to get. Was in a meeting 3-4pm and didn' t monitor. Suddenly received SMS that tio already and price drop so much. At least it has recovered back, now don' t feel so bad getting it at 20.63
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lighter87 Master	25-Jun-2020 16:32        lighter87 About Contact  Quote this Post!
x 0   x 0  Alert Admin	The condition now is only suitable for trading, if you are buying to hold for long term, I believe can get much cheaper in the next few months. sg_dew      ( Date: 25-Jun-2020 16:28) Posted: Thanks! Noob here. :) Queued this morning to nibble a bit and didn' t expect to get. Was in a meeting 3-4pm and didn' t monitor. Suddenly received SMS that tio already and price drop so much. At least it has recovered back, now don' t feel so bad getting it at 20.63. lighter87      ( Date: 25-Jun-2020 16:11) Posted: Us future drops on 2nd wave covid fea
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sg_dew Member	25-Jun-2020 16:28        sg_dew About Contact  Quote this Post!
x 0   x 0  Alert Admin	Thanks! Noob here. :) Queued this morning to nibble a bit and didn' t expect to get. Was in a meeting 3-4pm and didn' t monitor. Suddenly received SMS that tio already and price drop so much. At least it has recovered back, now don' t feel so bad getting it at 20.63. lighter87      ( Date: 25-Jun-2020 16:11) Posted: Us future drops on 2nd wave covid fear sg_dew      ( Date: 25-Jun-2020 16:10) Posted: How come sudden drop and dumping of DBS shares at around 3pm today?
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wtsfication Member	25-Jun-2020 16:18        wtsfication About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	will it be falling below 20 again
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lighter87 Master	25-Jun-2020 16:11        lighter87 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Us future drops on 2nd wave covid fear sg_dew      ( Date: 25-Jun-2020 16:10) Posted: How come sudden drop and dumping of DBS shares at around 3pm today?
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trademaster Supreme	25-Jun-2020 16:10        trademaster About Contact  Quote this Post!
x 0   x 0  Alert Admin	We know about this case Long ago that' s why price sold down.  Just collect at support level. 20.60 is good demand zone for me.  kandinsky      ( Date: 25-Jun-2020 14:48) Posted: stale news? trademaster      ( Date: 25-Jun-2020 14:27) Posted: Is this news something new? Lo
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sg_dew Member	25-Jun-2020 16:10        sg_dew About Contact  Quote this Post!
x 0   x 0  Alert Admin	How come sudden drop and dumping of DBS shares at around 3pm today?
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johnshao Member	25-Jun-2020 15:22        johnshao About Contact  Quote this Post!
x 0   x 0  Alert Admin	Today is a very bearish day!
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FATABA Supreme	25-Jun-2020 15:06        FATABA About Contact  Quote this Post! Style: Combined   Mood:
x 1   x 0  Alert Admin	Yearly a lot of $$ is paid to auditors n their accountant to do up the account /CHECK n balance for income tax /////  RIGHT?  If this people ( all standard employee n are big 4 auditor or accounting companies ...CANT FIND OUT OR choose to hv an easy sign off only ... Then they dont deserve the payment or fee...... MAS must goes after all these auditors n accountant in charge of these companies account ....ban /fine or even suspend their licence.  How cld all these $M lost if prroper check is done ....I cant understd There are NOT the first companies....yearly a few big one happens ?  prophetjul      ( Date: 25-Jun-2020 14:28) Posted: Most likely even with the confiscation of their assets, it will not be enough to cover so much debt. Their asset value is only :  Hin Leong Trading (Pte) Ltd. has assets of about US$257 million, or 7% of its estimated US$3.5 billion in liabilities. How much do they have personally?    Starship      ( Date: 25-Jun-2020 14:22) Posted: Jail all the criminals for life!!!!!! And confiscate all everything they own!!!
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johnshao Member	25-Jun-2020 14:50        johnshao About Contact  Quote this Post!
x 0   x 0  Alert Admin	Doesn' t look like its recovering to me... trademaster      ( Date: 25-Jun-2020 13:29) Posted: if use cfd can be more... dow futures recovering kandinsky      ( Date: 25-Jun-2020 12:40) Posted: What is nibble to you? 1000 shares
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kandinsky Master	25-Jun-2020 14:48        kandinsky About Contact  Quote this Post!
x 0   x 0  Alert Admin	stale news? trademaster      ( Date: 25-Jun-2020 14:27) Posted: Is this news something new? Lol prophetjul      ( Date: 25-Jun-2020 14:06) Posted: https://www.theedgesingapore.com/news/oil-gas/hsbc-and-other-banks-unlikely-recoup-hin-leong-loss
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prophetjul Master	25-Jun-2020 14:28        prophetjul About Contact  Quote this Post!
x 0   x 0  Alert Admin	Most likely even with the confiscation of their assets, it will not be enough to cover so much debt. Their asset value is only :  Hin Leong Trading (Pte) Ltd. has assets of about US$257 million, or 7% of its estimated US$3.5 billion in liabilities. How much do they have personally?    Starship      ( Date: 25-Jun-2020 14:22) Posted: Jail all the criminals for life!!!!!! And confiscate all everything they own!!! prophetjul      ( Date: 25-Jun-2020 14:10) Posted: HSBC and other banks unlikely to recoup Hin Leong loss (June 25): The prospects for HSBC Holdings Plc and other banks to recover losses from a failed Singapore oil trader are dimmer than originally thought after an accounting review found the energy firm overstated assets by US$3 billion (S$4.17 billion) and fabricated documents on a &ldquo massive scale.&rdquo Hin Leong Trading (Pte) Ltd. has assets of about US$257 million, or 7% of its estimated US$3.5 billion in liabilities, the company&rsquo s interim managers said in a report to Singapore&rsquo s High Court on Tuesday. That&rsquo s less than half the assets estimated by founder Lim Oon Kuin and his son Evan Lim, according to earlier affidavits to the court. HSBC is among 23 banks owed almost US$4 billion by Hin Leong, one of the largest traders in Singapore before its collapse in April following a plunge in oil prices that exposed what the report found were &ldquo manipulated&rdquo accounts and frequent double counting of cargo to keep credit lines flowing. See: Documents forged on a &ldquo massive scale&rdquo at Hin Leong to hide losses &ldquo The scale and regularity of the fabrication suggests that the practice was routine and pervasive,&rdquo the report found. &ldquo These forged documents enabled the company to mislead banks in extending financing to the company and also acted as supporting documentation for the fictitious gains and profits.&rdquo HSBC, the London-based bank with the most exposure to Hin Leong at about US$600 million, declined to comment on the report. Hin Leong didn&rsquo t respond to email inquiries seeking comment. The court filing was earlier reported by Reuters and Singapore&rsquo s Straits Times. Hin Leong &ldquo systematically manipulated its accounts to inflate the value of its accounts receivables&rdquo to present an exaggerated picture of its financial health, according to the report by PricewaterhouseCoopers LLC&rsquo s Chan Kheng Tek and Goh Thien Phong. Chan and Goh, who were appointed in April as interim judicial managers to oversee the company, added that Hin Leong has &ldquo no reasonable prospect&rdquo of rehabilitation as a standalone entity. Legal Disputes The trading house and its sister companies owned by the Lim family should be put together as an integrated trading platform to be restructured, while the Lims should inject their personal assets, the managers said in the report. The Lims, who received dividends totalling $90 million in the 2018 and 2017 fiscal years, haven&rsquo t responded to this suggestion via their legal advisers, according to the report. The Hin Leong collapse has sparked several legal disputes among banks and other creditors seeking to recover losses from the debacle. Sinopec last month lost a legal bid to halt a loan payment, while Winson Oil Trading Pte. Ltd. took Oversea-Chinese Banking Corp. to court, demanding payment for a sale of fuel tied to Hin Leong. Hin Leong&rsquo s audited financial statements for the financial year ended in October overstated the value of its assets by at least US$3 billion, according to the report. This overstatement comprised $2.23 billion in accounts receivables that have no prospect of recovery, and US$800 million in inventory shortfalls, it said. As part of the alleged manipulation, Hin Leong transferred money among its various bank accounts to give the false impression that accounts receivables were collected, when no payments were received, the managers said. This not only inflated the value of the balances, but also gave it an appearance of legitimacy by ensuring that the accounts were kept current, they said. The moves helped conceal significant losses, the managers said, adding that Hin Leong suffered derivatives trading hits of about $808 million over the past decade. Non-Existent Cargo Among its US$3.5 billion in liabilities, there are about 273 outstanding letters of credit facilities issued by 23 lenders, the report said. About 60 of them, amounting to US$1.5 billion, were used in bilateral or multi-party transactions in which Hin Leong would buy and sell the same cargo on the same date, or within a short interval, at a loss. These trades were done for the sake of obtaining liquidity, the report said. Banks Amounts Owed in US$ Million as of April HSBC $600 OCBC, DBS, ABN Amro $250-$300 BOC, Rabobank, StanChart, SocGen $210-$240 Natixis, ANZ $160-$190 CIMB, SMBC, UOB $130-$140 CTBC, CAI, ICICI $100 Westpac, Deutsche Bank, QNB, Unicredit $60-$90 DZ, JPMorgan, ING $40-$50 In other instances, the company would sell and buy back non-existent cargo from its counterparty for financing, the report said. Other transactions included purchasing cargo only to sell it back simultaneously without taking physical delivery. The PwC report said the company and founder OK Lim haven&rsquo t replied to questions from the managers, nor stated whether or when they will respond. Lim&rsquo s lawyers said he is unwell and won&rsquo t be able to assist &ldquo for a prolonged period of time,&rdquo according to the report.
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trademaster Supreme	25-Jun-2020 14:27        trademaster About Contact  Quote this Post!
x 0   x 0  Alert Admin	Is this news something new? Lol prophetjul      ( Date: 25-Jun-2020 14:06) Posted: https://www.theedgesingapore.com/news/oil-gas/hsbc-and-other-banks-unlikely-recoup-hin-leong-loss trademaster      ( Date: 25-Jun-2020 13:29) Posted: if use cfd can be more... dow futures recoverin
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Starship Supreme	25-Jun-2020 14:25        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	Too many criminals in the corporate world nowadays. Just look at the latest Wirecard case. The law is too lenient to all these rich criminals!!!! Ordinary ppl who steals a few cans of milk powder or gets into fights get sent to jail. But rich criminals continue to laugh all the way to their banks.
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Starship Supreme	25-Jun-2020 14:22        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	Jail all the criminals for life!!!!!! And confiscate all everything they own!!! prophetjul      ( Date: 25-Jun-2020 14:10) Posted: HSBC and other banks unlikely to recoup Hin Leong loss (June 25): The prospects for HSBC Holdings Plc and other banks to recover losses from a failed Singapore oil trader are dimmer than originally thought after an accounting review found the energy firm overstated assets by US$3 billion (S$4.17 billion) and fabricated documents on a &ldquo massive scale.&rdquo Hin Leong Trading (Pte) Ltd. has assets of about US$257 million, or 7% of its estimated US$3.5 billion in liabilities, the company&rsquo s interim managers said in a report to Singapore&rsquo s High Court on Tuesday. That&rsquo s less than half the assets estimated by founder Lim Oon Kuin and his son Evan Lim, according to earlier affidavits to the court. HSBC is among 23 banks owed almost US$4 billion by Hin Leong, one of the largest traders in Singapore before its collapse in April following a plunge in oil prices that exposed what the report found were &ldquo manipulated&rdquo accounts and frequent double counting of cargo to keep credit lines flowing. See: Documents forged on a &ldquo massive scale&rdquo at Hin Leong to hide losses &ldquo The scale and regularity of the fabrication suggests that the practice was routine and pervasive,&rdquo the report found. &ldquo These forged documents enabled the company to mislead banks in extending financing to the company and also acted as supporting documentation for the fictitious gains and profits.&rdquo HSBC, the London-based bank with the most exposure to Hin Leong at about US$600 million, declined to comment on the report. Hin Leong didn&rsquo t respond to email inquiries seeking comment. The court filing was earlier reported by Reuters and Singapore&rsquo s Straits Times. Hin Leong &ldquo systematically manipulated its accounts to inflate the value of its accounts receivables&rdquo to present an exaggerated picture of its financial health, according to the report by PricewaterhouseCoopers LLC&rsquo s Chan Kheng Tek and Goh Thien Phong. Chan and Goh, who were appointed in April as interim judicial managers to oversee the company, added that Hin Leong has &ldquo no reasonable prospect&rdquo of rehabilitation as a standalone entity. Legal Disputes The trading house and its sister companies owned by the Lim family should be put together as an integrated trading platform to be restructured, while the Lims should inject their personal assets, the managers said in the report. The Lims, who received dividends totalling $90 million in the 2018 and 2017 fiscal years, haven&rsquo t responded to this suggestion via their legal advisers, according to the report. The Hin Leong collapse has sparked several legal disputes among banks and other creditors seeking to recover losses from the debacle. Sinopec last month lost a legal bid to halt a loan payment, while Winson Oil Trading Pte. Ltd. took Oversea-Chinese Banking Corp. to court, demanding payment for a sale of fuel tied to Hin Leong. Hin Leong&rsquo s audited financial statements for the financial year ended in October overstated the value of its assets by at least US$3 billion, according to the report. This overstatement comprised $2.23 billion in accounts receivables that have no prospect of recovery, and US$800 million in inventory shortfalls, it said. As part of the alleged manipulation, Hin Leong transferred money among its various bank accounts to give the false impression that accounts receivables were collected, when no payments were received, the managers said. This not only inflated the value of the balances, but also gave it an appearance of legitimacy by ensuring that the accounts were kept current, they said. The moves helped conceal significant losses, the managers said, adding that Hin Leong suffered derivatives trading hits of about $808 million over the past decade. Non-Existent Cargo Among its US$3.5 billion in liabilities, there are about 273 outstanding letters of credit facilities issued by 23 lenders, the report said. About 60 of them, amounting to US$1.5 billion, were used in bilateral or multi-party transactions in which Hin Leong would buy and sell the same cargo on the same date, or within a short interval, at a loss. These trades were done for the sake of obtaining liquidity, the report said. Banks Amounts Owed in US$ Million as of April HSBC $600 OCBC, DBS, ABN Amro $250-$300 BOC, Rabobank, StanChart, SocGen $210-$240 Natixis, ANZ $160-$190 CIMB, SMBC, UOB $130-$140 CTBC, CAI, ICICI $100 Westpac, Deutsche Bank, QNB, Unicredit $60-$90 DZ, JPMorgan, ING $40-$50 In other instances, the company would sell and buy back non-existent cargo from its counterparty for financing, the report said. Other transactions included purchasing cargo only to sell it back simultaneously without taking physical delivery. The PwC report said the company and founder OK Lim haven&rsquo t replied to questions from the managers, nor stated whether or when they will respond. Lim&rsquo s lawyers said he is unwell and won&rsquo t be able to assist &ldquo for a prolonged period of time,&rdquo according to the report.
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prophetjul Master	25-Jun-2020 14:10        prophetjul About Contact  Quote this Post!
x 0   x 0  Alert Admin	HSBC and other banks unlikely to recoup Hin Leong loss (June 25): The prospects for HSBC Holdings Plc and other banks to recover losses from a failed Singapore oil trader are dimmer than originally thought after an accounting review found the energy firm overstated assets by US$3 billion (S$4.17 billion) and fabricated documents on a &ldquo massive scale.&rdquo Hin Leong Trading (Pte) Ltd. has assets of about US$257 million, or 7% of its estimated US$3.5 billion in liabilities, the company&rsquo s interim managers said in a report to Singapore&rsquo s High Court on Tuesday. That&rsquo s less than half the assets estimated by founder Lim Oon Kuin and his son Evan Lim, according to earlier affidavits to the court. HSBC is among 23 banks owed almost US$4 billion by Hin Leong, one of the largest traders in Singapore before its collapse in April following a plunge in oil prices that exposed what the report found were &ldquo manipulated&rdquo accounts and frequent double counting of cargo to keep credit lines flowing. See: Documents forged on a &ldquo massive scale&rdquo at Hin Leong to hide losses &ldquo The scale and regularity of the fabrication suggests that the practice was routine and pervasive,&rdquo the report found. &ldquo These forged documents enabled the company to mislead banks in extending financing to the company and also acted as supporting documentation for the fictitious gains and profits.&rdquo HSBC, the London-based bank with the most exposure to Hin Leong at about US$600 million, declined to comment on the report. Hin Leong didn&rsquo t respond to email inquiries seeking comment. The court filing was earlier reported by Reuters and Singapore&rsquo s Straits Times. Hin Leong &ldquo systematically manipulated its accounts to inflate the value of its accounts receivables&rdquo to present an exaggerated picture of its financial health, according to the report by PricewaterhouseCoopers LLC&rsquo s Chan Kheng Tek and Goh Thien Phong. Chan and Goh, who were appointed in April as interim judicial managers to oversee the company, added that Hin Leong has &ldquo no reasonable prospect&rdquo of rehabilitation as a standalone entity. Legal Disputes The trading house and its sister companies owned by the Lim family should be put together as an integrated trading platform to be restructured, while the Lims should inject their personal assets, the managers said in the report. The Lims, who received dividends totalling $90 million in the 2018 and 2017 fiscal years, haven&rsquo t responded to this suggestion via their legal advisers, according to the report. The Hin Leong collapse has sparked several legal disputes among banks and other creditors seeking to recover losses from the debacle. Sinopec last month lost a legal bid to halt a loan payment, while Winson Oil Trading Pte. Ltd. took Oversea-Chinese Banking Corp. to court, demanding payment for a sale of fuel tied to Hin Leong. Hin Leong&rsquo s audited financial statements for the financial year ended in October overstated the value of its assets by at least US$3 billion, according to the report. This overstatement comprised $2.23 billion in accounts receivables that have no prospect of recovery, and US$800 million in inventory shortfalls, it said. As part of the alleged manipulation, Hin Leong transferred money among its various bank accounts to give the false impression that accounts receivables were collected, when no payments were received, the managers said. This not only inflated the value of the balances, but also gave it an appearance of legitimacy by ensuring that the accounts were kept current, they said. The moves helped conceal significant losses, the managers said, adding that Hin Leong suffered derivatives trading hits of about $808 million over the past decade. Non-Existent Cargo Among its US$3.5 billion in liabilities, there are about 273 outstanding letters of credit facilities issued by 23 lenders, the report said. About 60 of them, amounting to US$1.5 billion, were used in bilateral or multi-party transactions in which Hin Leong would buy and sell the same cargo on the same date, or within a short interval, at a loss. These trades were done for the sake of obtaining liquidity, the report said. Banks Amounts Owed in US$ Million as of April HSBC $600 OCBC, DBS, ABN Amro $250-$300 BOC, Rabobank, StanChart, SocGen $210-$240 Natixis, ANZ $160-$190 CIMB, SMBC, UOB $130-$140 CTBC, CAI, ICICI $100 Westpac, Deutsche Bank, QNB, Unicredit $60-$90 DZ, JPMorgan, ING $40-$50 In other instances, the company would sell and buy back non-existent cargo from its counterparty for financing, the report said. Other transactions included purchasing cargo only to sell it back simultaneously without taking physical delivery. The PwC report said the company and founder OK Lim haven&rsquo t replied to questions from the managers, nor stated whether or when they will respond. Lim&rsquo s lawyers said he is unwell and won&rsquo t be able to assist &ldquo for a prolonged period of time,&rdquo according to the report.
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prophetjul Master	25-Jun-2020 14:06        prophetjul About Contact  Quote this Post!
x 0   x 0  Alert Admin	https://www.theedgesingapore.com/news/oil-gas/hsbc-and-other-banks-unlikely-recoup-hin-leong-loss trademaster      ( Date: 25-Jun-2020 13:29) Posted: if use cfd can be more... dow futures recovering kandinsky      ( Date: 25-Jun-2020 12:40) Posted: What is nibble to you? 1000 shares
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