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Chimbusco PN planning to wind up Arkstar Ship Management

18 Mar 2019

Hong Kong-based bunkering firm Chimbusco Pan Nation Petro-Chemical Company Limited (Hong Kong SAR Registration No. 0330015) has initiated a winding up order against Arkstar Ship Management Pte Ltd (Singapore UEN No. 201317861K) at the High Court of the Republic of Singapore on Friday (15 March), show documents obtained by Manifold Times.

Arkstar Ship Management Pte Ltd (ASM), formerly known as Arkstar ShipManagement Pte Ltd, is a subsidiary of Singapore-based offshore support vessel (OSV) owner Arkstar Offshore Pte Ltd, according to information from its official website.

Arkstar Offshore is a subsidiary of Singapore-listed heavy equipment and industrial machinery spare parts trading and distributor firm Hoe Leong Corporation Ltd. (HLC).

A HLC filing has noted Chimbusco PN seeking a bunker claim of US $335,858 from ASM.

“The plaintiff has filed an application for winding up of ASM with High Court of Singapore,” said HLC in its full year (FY) financial results for 2018 released on 1 March.

“The application is scheduled to be heard at the Court on 15 March 2019.

“ASM is currently seeking legal advice and exploring all of its options in respect of the above mentioned Order.”

HLC reported profit after tax of SG $7.83 million (US $5.79 million) for FY2018, compared to net loss of SG $47.54 million in FY2017.

Related: Chimbusco Pan Nation wins bunker claim case against Singapore firm

Photo credit: Manifold Times
Published: 18 March, 2019


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