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Mitsubishi to shut Singapore oil-trading unit after losses by trader

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By Yuka Obayashi and Shu Zhang

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The name Wang Xingchen sounds like he is PRC Chinese. On further checking, he is indeed Chinese, not Singaporean. It is such a shame that up to 50 employees of the company might lose their jobs because of him. Singapore is a very safe place for foreign companies to do business here and I hope Japanese companies will not be 'turned off' to operate from Singapore due to this incident.

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First things first, nationalities does not matter, it is the matter of how, mitsubishi runs their business in Singapore. How can this much money goes missing ???. Something is very wrong. This company have 50 employees, why then ,can such a big case not discovered until now ???. Are U sure that it is not the head office in Japan that is having a problem with their control system and some Japanese is making this person as the scape-goat ???. In japan worst cases have happened with the Japanese operations, who is the Japanese head of operations in Singapore for this operations. This Japanese case is very deep. Pls look at the real under currents. No fear, Sinagapore is one country that takes corruption very seriously.

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