Agritrade, Hin Leong, ZenRock, Hontop, Sugih Energy : Frauds in 2020 Commodity Finance Fraud In 2020, commodity finance fraud claimed its place as the most popular topic on the GTR website, following several allegations and cases of fraudulent activity that were exposed across Asia and the Middle East. The first sign of trouble appeared in March when Singapore-based commodities […]
Societe Generale SA is closing its trade commodity finance unit in Singapore after the collapse of Hin Leong Trading (Pte) Ltd. prompted the bank to halt fresh funding to such firms in the region, Bloomberg News reported.
The European Banking Authority (EBA) will begin requiring companies that provide loans in the region to follow a single definition for default this year, after it saw high variances in the ways they contend with basic banking issues, Bloomberg noted.
Singapore is continuing its drive to promote e-invoicing with the aim of helping companies improve efficiency, reduce costs, streamline payment cycles and minimize environmental impact.