Hong Kong-listed Brightoil Petroleum (Holdings) Limited Monday announced the resignation of its Executive Director and Chief Executive Officer (CEO) of the company’s Singapore subsidiary Brightoil Petroleum (S’pore) Ptd. Ltd.
Wang Wei tendered his notice of retiring from office at the end of his initial term of three years in accordance with a service agreement between him and Brightoil on 8 May 2015; he decided not to seek re-election by the shareholders of the company.
Wang will cease to be an Executive Director of Brightoil with effect from 18 May 2018, and leave his position as CEO of Brightoil Petroleum (S’pore) with effect from 21 May 2018.
Brightoil, meanwhile, informs that trading of its shares on the Hong Kong Stock Exchange (HKSE) is still suspended due to further preparations needed to complete its audit in order to publish its annual results.
“At this point, the company is unable to give a definitive timeframe for completion of all the aforesaid,” it informs.
Brightoil’s shares have stopped trading on the HKSE since 3 October, 2017.
Related: Brightoil continues suspension of trading activities
Related: Brightoil: Delay in release of 2018 financial results
Related: Update on suspension of trading
Related: Brightoil redeems $9.6 million in outstanding bonds
Photo credit: Brightoil
Published: 22 May, 2018
Additional topics of bunker contamination and OCM services discussed at VPS’ Fuel Management Challenges – The Year of 2021 & Beyond webinar on 23 September; Manifold Times summarises the session.
‘The JMs have failed to discharge their duties by blindly helping the Banks mount a false case against the Defendant,’ wrote defence lawyers representing former IPP Director Dr Goh Jian Hian in court statement.
Lead prosecutor Andreas Myllerup Laursen aims for a fine and a prison sentence in the so-called Syria case scheduled to commence in Odense, Denmark on 26 October, writes the Danish publication.
In a modern re-telling of the story of David versus Goliath, local bunker barge owners/charterers successfully resisted claims brought in the Singapore courts by Phillips 66 for misdelivery of bunkers.
Bunker barge owners and operators; traders and suppliers; banks, including players in other countries, will have to re-examine respective operations, advises Helmsman Associate Director Jonathan Tan.
Vopak BL was a non-essential document with no contractual force and had no effect as a contract of carriage or as a document of title, states written Judgement issued by Singapore Court of Appeal.