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

Business

Published Mon, 5th October 2020
by Admin

Expressions of Interest are to be lodged with PricewaterhouseCoopers Advisory Services Pte. Ltd. by 15 October 2020, reads the notice seen by Manifold Times.

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