The audit committee of Hong Kong-listed Brightoil Petroleum has engaged an independent adviser to assist with the company’s review, it said in a recent update on its trading suspension.
The committee has been liaising with the auditor regarding the status of the work of the independent adviser.
Upon completion of the review, the company will take all necessary steps to provide information to the auditor such that the audit can be completed as soon as practicable.
“The company understands that the independent adviser has recommended further steps, and the audit committee is currently evaluating such recommendations and seeking legal advice thereon,” it says.
“The company is not yet in a position to provide a reliable estimate on when the work of the independent adviser will be completed
“Finalization of the 2017 Annual Results depends on, among other things, the work of the independent adviser.”
Manifold Times earlier reported Brightoil redeeming all outstanding unconverted Listed Convertible Bonds with a principal amount of $9.6 million in full on 12 February 2018.
Published: 19 February 2018
The local bunkering sector has adapted to IMO 2020 requirements and LSFO is now available at more than two earlier locations, notes bunker supplier Trillion Energy.
Claiming USD 108,887.87 for the supply and delivery of 310.00 mt of low sulphur marine gas oil at the Port of Jeddah on or about 23 February 2020.
A sanitisation expert offers Manifold Times a summary of the processes involved in disinfecting a ship together with the equipment and products used in the operation.
‘As the saying goes without people buying things, manufacturing will slow, trade will also slow and shipping movements slows down. It’s a whole chain of reaction,’ says Simon Neo.
Laboratory looking to collaborate with Singapore bunker surveyors to roll out COVID 19 testing service, which has been successfully adopted by land-based industries, to the maritime sector.
Sinfeng Marine Services filed an application to the Court of Appeal to withhold information from the liquidators on October 2019; the appeal was dismissed a month later.