Singapore’s High Court has agreed to give financially stricken China Aviation Oil (Singapore) an extension of six weeks to forge a rescue plan following its collapse from a US$550 million loss in trading oil derivatives. Part of the plan involves Singapore state investment agency Temasek Holdings and CAO’s parent in Beijing injecting US$50 million each…
SINGAPORE: High Court gives China Aviation Oil six weeks to make rescue plan
Posted on December 13, 2004 by EnergyAsia