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PwC publishes ‘investment opportunity’ for Singapore independent bunker fuel supplier

05 Oct 2020

Accounting firm PricewaterhouseCoopers (PwC) has published a notice in local papers for an “investment opportunity in an independent bunker fuel and lubricant supplier in Singapore”.

The notice was issued by Goh Thien Phong and Chan Kheng Tek of PwC who are also the judicial managers of the financially troubled Hin Leong Trading (HLT), according to an earlier report

In the notice seen by Manifold Times, the company in question remains anonymous but the contact details of Goh and Chan are published along with the company’s description.

Details of the notice are as follows:

Proposed Transaction

  • The Company has an operating track record spanning over 40 years, providing bunkering services and quality bunker fuels to vessels In Singapore. It supplies all grades of bunker fuel and marine lubricants to vessels of various types and sizes ·
  • It also procures the preparation of its in-house brand of lubricants, supplying to a wide range of marine, automotive and industrial customers. The Company also contracts with international brands to procure the preparation of specific lubricants requested by these brands
  • The majority shareholder of the Company is seeking to sell its shares in the Company, subject to obtaining relevant regulatory approvals

Key Highlights

  • Excellent track record within the Singapore bunker and lubricant supply market Access to an extensive network of customers
  • Strong relationships with reputable suppliers
  • Lean and cross-functional core team

Expressions of Interest

  • Expressions of Interest are to be lodged with PricewaterhouseCoopers Advisory Services Pte. Ltd. by 15 October 2020.

Goh Thien Phong

Chan Kheng Tek

Lie Kok Keong

Editor: Singapore bunker supplier Ocean Bunkering Services is the bunkering arm of Hin Leong Group. 


Photo credit: swapnil-bapat
Published: 5 October, 2020

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