• If Laksaboy Forums appears down for you, you can google for "Laksaboy" as it will always be updated with the current URL.

    Due to MDA website filtering, please update your bookmark to https://laksaboyforum.xyz

    1. For any advertising enqueries or technical difficulties (e.g. registration or account issues), please send us a Private Message or contact us via our Contact Form and we will reply to you promptly.

Japan's Mitsubishi says Singapore unit loses US$320 million on crude oil trading

L

LaksaNews

Myth
Member
a-logo-of-mitsubishi-electric-corp-is-pictured-at-the-ceatec-japan-2017-in-chiba-2.jpg

TOKYO: Mitsubishi, one of Japan's biggest trading houses, said on Friday (Sep 20) a Singapore-based unit has made a loss of US$320 million from unauthorised trading of crude oil derivatives.
An employee of Petro-Diamond Singapore (PDS) who handles crude oil trades for China "was discovered to have been repeatedly engaging in unauthorised derivatives transactions and disguising them to look like hedge transactions since January of this year," Mitsubishi said in a statement.
AdvertisementAdvertisementWhile PDS has closed the positions, "we are now examining the total amount of losses," Mitsubishi said.
Let's block ads! (Why?)


More...
 
You must log in or register to reply here.
Back
Top