Brightoil Petroleum (00933) said it agreed to purchase an oil tanker from Chairman and Chief Executive Officer Sit Kwong Lam at US$8.4 million (equivalent to about HK$65.17 million) in cash.
Having established itself as one of the leading suppliers of marine bunkers in Singapore, the Group considers that the purchase of the bunker barge will enhance the competitive strength in the bunkering business of the Group by expanding the operating fleet; and bring in additional revenue to the Group through increased marine bunker sales volumes.
29/07/2016 17:06
Brightoil (00933) to buy oil tanker from Chairman at US$8.4m
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