Asia/Pacific News
Creditors' Meeting Confirms Decision to Wind Up Ocean Bunkering
An extraordinary general meeting of Ocean Bunkering Services, formerly one of Singapore's largest bunker suppliers, has confirmed the decision to wind up the company.
"It has been proved to the satisfaction of the meeting that the company cannot by reason of its liabilities continue its business," Tan Thiam Hee, a director at Ocean Bunkering, wrote in a notice published in Singapore's Government Gazette Wednesday.
The meeting was held on December 15.
Leow Quek Shiong and Gary Log Weng Fatt of BDO Advisory Pte Ltd have been appointed liquidators of the firm, according to the notice.
Ocean Bunkering was the marine fuels unit of Hin Leong Trading. The company was listed as Singapore's largest bunker supplier by volume in 2018, and its third-largest in 2019.
Legal cases against Hin Leong founder OK Lim and his family over alleged fraud at his company are still progressing through the courts.
