Business

Shenzhen-based Centre Testing International Group completes Maritec acquisition

CTI acquired Maritec in early March for USD 38.6 million but said it had to wait for further approvals by relevant government agencies from Singapore authorities.

Published

6 years ago

June 11, 2020

Admin

Shenzhen- listed Centre Testing International Group Co., Ltd. (CTI) has officially completed the acquisition of Singapore-based marine fuel testing and marine surveying business Maritec Pte Ltd (Maritec), it says.

Maritec is a great fit for CTI’s expansion strategy into the Transportation segment, broadening its existing marine Ballast Water Testing (BWT), Inventory of Hazardous Materials (IHM), ship Responsible Recycling Supervision (RSR) and Non Destructive Testing (NDT) capabilities to include a wide range of testing and surveying services for the marine industry globally, according to CTI.

As part of the CTI group, Maritec will not only leverage CTI’s world-class R&D capabilities, technical know-how, services network and broad customer base to continue and enhance its world class marine fuel testing and bunker survey services but also expand scopes of business into new territories. Maritec and CTI have a shared vision and culture focused on quality, integrity, teamwork and service.

Eric Qian Feng, CTI’s Vice President of International Operation will join Maritec’s management team as Chairman of the Board, while Sangem Hsu, the ex-CEO of CTI and ex-Vice President of DNV-GL, will also join Maritec’s management team as General Manager.

Eric and Sangem together with Rex Lim, Gwee Ai Hwa and Helen Ong, will work together during a structured transition phase.

“We are very pleased with the acquisition of Maritec which will further strengthen our position in the Asia Pacific region,” said Richard Shentu, CEO at CTI.

“CTI has long admired the business that Maritec built in Singapore, and as part of the CTI group, together we will be able to showcase the breadth and depth of our testing capabilities for the marine industry.”

Rex adds: “We are very pleased to be welcomed into the CTI family and look forward to growing the business and capabilities together. We are delighted that our customers and employees will benefit from being a part of a leading Asia-based global TIC company.”

“I am also pleased that Ai Hwa, Helen and myself will continue to be part of the management team with Eric and CTI to ensure seamless transition and enhanced services from even more capabilities from CTI other laboratories.”

CTI is a third-party agency specialising in testing, calibration, inspection, certification, and technical services, for Chinese and global companies.

Founded in 2003 and headquartered in Shenzhen, CTI operates over 60 branches in mainland China, and more than 130 laboratories globally, including branches in Taiwan (China), Hong Kong (China), Singapore and the United States, serving over 90,000 customers. On October 30th, 2009, CTI was successfully listed on the Shenzhen Stock Exchange (SHE: 300012).

CTI in early March acquired Maritec as a wholly-owned subsidiary for USD 38.6 million (SGD 54.86 million) but said it had to wait for further approvals by relevant government agencies from Singapore authorities.

Photo credit: Scott Graham
Published: 11 June, 2020

Legal

Singapore withdraws remaining 127 charges against Hin Leong founder OK Lim

Lim Oon Kuin, also known as OK Lim, was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges on 17 July.

Published

16 hours ago

July 21, 2026

Admin

Founder of collapsed oil trader Hin Leong Trading, Lim Oon Kuin, also known as OK Lim, has had the remaining 127 charges against him withdrawn, according to The Straits Times on Monday (20 July).

OK Lim was issued a stern warning and a district court granted him a discharge amounting to an acquittal for these charges, including those for cheating, on 17 July. The discharge means Lim cannot be prosecuted again for the same offences.

Lim, 84, is currently serving a 13½-year prison sentence after the High Court reduced his original 17½-year jail term in March 2026. He was convicted in 2024 on two cheating charges and one count of abetting forgery in a case prosecutors described as one of Singapore’s most serious trade finance frauds.

Lim was convicted in May 2024 of two charges of cheating the Hongkong and Shanghai Banking Corporation (HSBC) and one count of abetting forgery that proceeded to trial out of a total of 130 criminal charges.

He was first charged in court on 14 August 2020, and was subsequently handed further charges in court on 25 September 2020, 30 April 2021 and 24 June 2021 for his role in perpetuating fraud on various financial institutions.

A total of 130 charges were eventually brought against him for cheating and forgery-related offences.

Photo credit: Sora Shimazaki
Published: 21 July, 2026

Winding up

Singapore: Coastal Logistics Pte Ltd to be wound up voluntarily

Coastal Logistics was reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

Published

16 hours ago

July 21, 2026

Admin

Several resolutions for Coastal Logistics Pte Ltd were made during an extraordinary general meeting held on 14 July, according to a notice in the Government Gazette on Friday (4 July).

The following resolutions were duly passed during the meeting:

As Special Resolution

That it has been proved to the satisfaction of the meeting that the Company cannot by reason of its liabilities continue its business and accordingly the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018 (No. 40 of 2018);

As Ordinary Resolutions

that Mr. Wong Pheng Cheong Martin and Ms. Koay May Yee, both care of FTI Consulting (Singapore) Pte Ltd, One Raffles Quay, #27-10 South Tower, Singapore 048583 be appointed as the joint and several Liquidators of the Company for the purpose of such winding up; and
that the Liquidators be at liberty to open, maintain and operate any bank account(s) or account(s) for monies received by them as Liquidators with such bank(s) as they deem fit; and
that a Committee of Inspection will not be formed.

Manifold Times previously reported Nicholas James Gronow, director of Heng Tong Fuels & Shipping and Coastal Logistics, filed statutory declarations for both companies stating the firms cannot continue their businesses due to liabilities.

Both companies were reportedly affiliated with troubled Singapore bunker player Coastal Oil (Singapore) Pte Ltd.

In 2019, several vessels owned by both firms entered the sale & purchase (S&P) market in Singapore.

Photo credit: Drew Beamer
Published: 21 July, 2026

LNG Bunkering

PIL’s LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on LNG and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

Published

16 hours ago

July 21, 2026

Admin

PIL's LNG dual-fuel boxship “Kota Elok” arrives in Singapore on maiden call

Singapore-based Pacific International Lines Pte Ltd on Monday (20 July) said its first 13,000 TEU LNG dual-fuel container vessel, Kota Elok, recently made her maiden call to Singapore on 15 July.

As the first of 13 new 13,000 TEU vessels joining its fleet, Kota Elok is equipped to operate on liquefied natural gas (LNG) and low-sulphur fuel oil that helps reduce our greenhouse gas emissions.

The vessel also incorporated energy-saving features and digital technologies to reduce fuel consumption and enhance operational performance, as well as a bow windshield to improve aerodynamics, contributing to improved fuel efficiency and lower emissions over the course of long-haul voyages.

“Following Singapore, Kota Elok will continue her voyage on our East Coast Service 1 (ES1) route to South America, calling at ports in Brazil, Uruguay, and Argentina before returning to Asia,” the company said in a social media post.

Kota Elok also became PIL’s first vessel to receive Lloyd’s Register certification for compliance with the IACS UR E26 and UR E27 cyber security requirements.

Developed by the International Association of Classification Societies (IACS), UR E26 and UR E27 are mandatory cyber resilience requirements for newbuild vessels contracted from 1 July 2024.

Photo credit: Pacific International Lines
Published: 21 July, 2026