Radiant World cuts jobs after court takes control from founder

Radiant World: Radiant World is a Singapore-based commodity trading firm that sources metals and minerals including iron ore and base metals from producers for supply to consumers, particularly in Asia. Founded by Pinkesh Nahar, it has expanded operations with offices across multiple continents while focusing on iron ore and non-ferrous metals trading. In the wake of creditor allegations regarding falsified documents used for financing, a Singapore court recently appointed KPMG restructuring executives to take interim judicial management of its key operating entity, removing the founder from control and triggering further staff reductions beyond the iron-ore division. Creditor Scrutiny: Multiple lenders have distanced themselves or taken legal action against the firm amid concerns over documentation practices, contributing to the recent court-ordered change in management. Judicial Oversight: A Singapore court placed Radiant World's key operating entity under interim judicial management by KPMG executives following an application by creditor Mizuho Bank over alleged fraud involving iron ore receivables. Operational Adjustments: The trader has expanded staff reductions to include operations and execution roles in its base metals business, which had previously been less affected than its iron ore activities.