StanChart's troubled loans top $854m to problem companies including Hin Leong

Asia, Africa and the Middle East account for 70 per cent of Standard Chartered's assets.
Asia, Africa and the Middle East account for 70 per cent of Standard Chartered's assets.PHOTO: REUTERS

LONDON (BLOOMBERG) - Problem loans at some of Standard Chartered's large clients may top US$600 million (S$854 million) as a string of corporate scandals coincides with woes at firms hit by the coronavirus pandemic.

NMC Health, the hospital operator that's uncovered evidence of fraud, and Hin Leong Trading, the Singapore oil trader being investigated by police, represent nearly US$500 million of lending for Standard Chartered, according to public filings. Separately, a South African farm bank that the London-based company lends to has defaulted on some of its debt.

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