Singapore: Former bunker supplier Toyota Tsusho Petroleum to undergo voluntary wind up

Two notices were published in the Government Gazette on Wednesday (16 November) regarding the winding up process of Toyota Tsusho Petroleum Pte Ltd, a former licensed bunker supplier in Singapore. 

The first notice was informing that several resolutions were duly passed at an Extraordinary General Meeting of the company held on 15 October:

• SPECIAL RESOLUTION ‑ WINDING‑UP

RESOLVED:

That the Company be wound up voluntarily pursuant to Section 160(1)(b) of the Insolvency, Restructuring and Dissolution Act 2018.

• ORDINARY RESOLUTION ‑ APPOINTMENT OF LIQUIDATOR

RESOLVED:

That Mr Alex Lee Tiong Wee of Boardroom Corporate & Advisory Services Pte. Ltd., of 1 Harbourfront Avenue, #14-07 Keppel Bay Tower, Singapore 098632, be and is hereby appointed Liquidator to conduct the said winding‑up and that his remuneration be fixed on the usual scale of his professional charges for the work involved.

• SPECIAL RESOLUTION ‑ DISTRIBUTION OF ASSETS IN SPECIE 

RESOLVED:

That the Liquidator of the Company be authorised to exercise any of the powers given by Section 177(1) read with Section 144(1)(b), (c), (d), (e), (f) and (g) of the Insolvency, Restructuring and Dissolution Act 2018 and to distribute to the sole member in cash or in specie any part or all the surplus assets of the Company.

• ORDINARY RESOLUTION – DISPOSAL OF BOOKS AND RECORDS 

RESOLVED:

That the books of accounts, documents and records of the Company and of the Liquidator be disposed of after 5 years from the date of dissolution of the Company.

The second notice informed creditors of the company to send in their names and addresses and particulars of their debts or claims, and the names and addresses of their solicitors (if any) to the liquidator of the company within 30 days, starting from 15 October. 

If so required, they are to come in and prove their debts or claims as shall be specified or in default will be excluded from the benefits of any distribution made before such proof.

Contact details of the liquidator are as follow:

Alex Lee Tiong Wee
Liquidator
c/o Boardroom Corporate & Advisory Services Pte. Ltd.,
1 Harbourfront Avenue,
#14-07 Keppel Bay Tower, Singapore 098632 

In May 2023, Manifold Times reported on Tokyo-based Toyota Tsuho Corporation’s (TTC) decision to cease the business operation of its subsidiary Toyota Tsusho Petroleum (TTP).  

TTC also announced the establishment of a new entity named Toyota Tsusho Marine Fuels Corporation (TTMF) in December 2022. 

Later that year, the Maritime and Port Authority of Singapore (MPA) removed TTP from its list of licensed bunker suppliers in the republic. 

Related: Singapore: Toyota Tsusho Petroleum ceases operations, new firm established
Related: Toyota Tsusho Petroleum removed from licensed bunker suppliers list in Port of Singapore

Photo credit: Manifold Times
Published: 16 October, 2026