The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Asia: Market round-up

Singapore: CAO executives charged 

Following the high-profile collapse of China Aviation Oil (Singapore), five key executives were arrested by the Singapore authorities and charged with several crimes, including forgery and insider trading. Those arrested include Chinese nationals Chen Jiulin, and Jia Changbin, respectively chief executive and chairman of the firm.

CAO, the Singapore-listed vehicle that controls distribution of aviation fuel in mainland China, collapsed in November 2004 with debts of $530 million. A company programme of trading in derivatives linked to the price of oil had gone disastrously wrong.

Deutsche Bank will feel vindicated by the events. The charges against Chen include misleading the bank about the status of the company ahead of a placing of $108 million of CAO shares by its mainland parent just before news of the trading losses broke. This led some in the market to question the extent to which Deutsche Bank was aware of the financial status of CAO.

Vietnam: FDI on the up

Long Asia's perennial disappointment for investors, Vietnam might be approaching some kind of tipping point in attracting foreign investment capital.

The strong commodities cycle in the past few years predictably has attracted a large amount of foreign investment into the local mining industry.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree