SINGAPORE - Troubled oil trader Hin Leong Trading's assets were"grossly overstated by an astonishing amount of at least US$3 billion ," of which"US$2.23 billion in accounts receivables have no prospect of recovery," according to its interim judicial manager PricewaterhouseCoopers Advisory Services.
In a report filed on Monday in the High Court, PwC said this was among a"significant number of irregularities in the company's affairs" uncovered in its investigations.Enjoy unlimited access to ST's best work Subscribe Now
Source: Digital Coin News (digitalcoinnews.net)
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