Mitsubishi Ends Trading in Singapore

摘要

Japanese trader Mitsubishi has decided to liquidate its Singapore oil and products trading subsidiary, Petro-Diamond Singapore, after reporting in September that an employee had raked up losses worth 34.2 billion yen ($314 million) before tax in unauthorized oil derivatives deals. Mitsubishi said the losses could put the subsidiary’s final debt as high as 30.8 billion yen.