Singapore-listed China Aviation Oil (Singapore) Corporation Ltd (CAO) said it recorded a 12.5% rise in net after-tax profit of S$54.3 million for the financial year ending December 2003. For the fourth quarter, its pre-tax profit came to S$20.6 million while net after tax profit was S$14.5 million. (US$1=S$1.7). Commenting on the results, CAO managing director…

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