Singapore police have initiated an investigation into iron ore trader Radiant World, a company that has rapidly ascended to become a significant player in the global commodities market in recent years. Authorities have confirmed that the Commercial Affairs Department is handling the case, an agency tasked with safeguarding Singapore's reputation and security as an international financial and commercial hub.

According to sources familiar with the matter, multiple banks and commodity trading firms have scaled back or entirely halted business dealings with the Singapore-based enterprise over the past few months, citing concerns related to suspected document falsification. Radiant World has previously denied any allegations of misconduct.

Radiant World holds a prominent position in the global iron ore sector, with its business network extending across India, the Middle East, Europe, and the United States. Its rapid growth has been fueled by close partnerships and credit support from various international banks, though some lenders have recently begun severing their connections with the firm.

Major trading houses, including Glencore Plc and Vitol, have terminated their business relationships with Radiant World. The company, originally founded in India in 2003, is now operated by Singapore-based Pinkesh Nahar. Media reports last week indicated that the U.S. Department of Justice and the Commodity Futures Trading Commission are also reviewing transactions linked to Radiant World, though the company stated at the time that it was unaware of any such inquiries.

Singapore, serving as a crucial shipping hub connecting Asia with the Middle East and Europe, has evolved into a vital global commodities trading center, attracting numerous major traders and financial institutions to establish operations there.