How a big group of S’pore investors lost $130m in oil trades

The Canadian oil company went bust and the investors found out that they could not get back the $130 million invested. PHOTO: UNSPLASH
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There are fortunes to be made in oil, but as any oil prospector can tell you, you can also be left high and dry, as some Singapore investors have learnt the hard way.

Black gold turned into a $130 million ocean of red ink for these investors, as well as others from Malaysia, Hong Kong and Macau, who discovered there was more slick in the marketing than in any crude oil that came their way.

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