Radiant World staff in Singapore, China and Europe report September salary delays amid court-run restructuring

Radiant World, an iron-ore trading house, has not paid its September salaries to staff in Singapore, China and Europe, according to employees who asked to remain anonymous. The payroll gap emerged while the company is being overseen by court-appointed managers after a Singapore court installed KPMG as interim judicial manager in September. Multiple lenders, including Mizuho Bank, have pursued legal action alleging the trader provided falsified documents to obtain financing, prompting several banks to cut off credit lines.

Employees said that in recent months their wages were transferred from a company account in Dubai, but the cause of one outlet delay remains unknown. The firm has not responded to requests for comment, and KPMG also declined to speak. The situation adds to growing concerns among staff as restructuring executives begin contacting current and former employees for interviews.