Hong Kong-listed NewOcean Energy Holdings Limited on Thursday (26 January) said Crowe (HK) CPA Limited (Crowe) has resigned as auditor of the company for the financial year ended 31 December 2021 with immediate effect.
The resignation was due to NewOcean and Crowe not reaching, “a consensus on the audit fee in respect of the financial year ended 31 December 2021,” it explained.
“Crowe stated in its letter of resignation that, after taking into account many factors including the level of audit fees and its available internal resources in the light of the current work flows, it decided to tender its resignation as auditor of the Company,” said NewOcean.
The Board has resolved, on the recommendation of the Audit Committee, to appoint Confucius International CPA Limited as the new auditor of NewOcean with effect from 26 January 2022 to fill the casual vacancy following the resignation of Crowe and to hold office until the conclusion of the next annual general meeting of the company.
Manifold Times earlier reported NewOcean Energy, a firm with bunkering operations, officially beginning its “soft touch” debt restructuring process on 21 December.
Related: NewOcean company secretary and authorised representative resigns on HQ relocation
Related: NewOcean Energy loses second Executive Director on HQ relocation to China
Related: NewOcean Energy HQ relocates to mainland China, Executive Director resigns
Related: NewOcean Energy officially begins ‘soft touch’ debt restructuring process
Related: NewOcean Energy reshuffles lineup of Independent Non-executive Directors
Photo credit: Tarik Haiga on Unsplash
Published: 27 January, 2022
‘Economics of the shipping market will be the key driver enabling methanol to be adopted at a higher pace going forth over next couple years as market begins to return to more normal rates,’ states COO.
Integr8 Fuel injunction varied by Singapore Court to allow former employees to start work at Hartree Group in December 2022 following failure to produce evidence on biofuels development plans.
Variability of sources can affect the stability and performance of biofuel bunkers produced from these feedstocks, in turn leading to difficulties in meeting regulations and industry standards, shares Bryan Quek.
Top three positive movers in 2022 were Bunker House Petroleum Pte Ltd (+7), Eastpoint International Marketing Pte Ltd (+5), and Eng Hua Company (Pte) Ltd (+6); newcomer Sinopec Fuel Oil (Singapore) gets 19th spot.
Livestock carrier also involved in earlier bunker claim with Glander International Bunkering due to remaining unpaid fuel bill of approximately USD 116,000, according to court documents obtained by Manifold Times.
A blend of standard MGO and biodiesel, MGO B20 is distributed at the company’s floating kiosk CNC 5 which is located off the buoy of West Coast Pier; PS Energy has been stamped with globally recognised ISCC.