免费日韩片_欧美成人精品一区二区男人小说_国产乱码一区二区三区四区_国产精品国产三级国产aⅴ入口_成人看的污污超级黄网站免费_欧美一级在线免费观看_成人午夜免费无码福利片_国产乱人伦偷精品视频色欲_aaa少妇高潮大片免费看_国产精品1234_亚洲精品国产suv一区88_中文字字幕在线中文无码_精品亚洲区_午夜九九九_国产av国片精品jk制服丝袜_色综合亚洲_亚洲成av人片无码bt种子下载_欧美色就色_精品少妇的一区二区三区四区_男人用嘴添女人下身免费视频

Aviation Oil to receive support from parent
(Xinhua)
Updated: 2004-12-16 13:44

China Aviation Oil Holding Co. (CAOHC), parent of struggling China Aviation Oil (Singapore) Corp. (CAO), said late Tuesday it would provide financial support to CAO to resume its jet fuel procurement activities.

The parent company also reiterated it would support CAO’s restructuring proposal to enable the Singapore-listed unit to continue normal business operations and allow the shares to resume trading.

“However, as a commercial entity and as a Chinese State-owned enterprise responsible for a critical function in the Chinese economy, we’re not in a position to pledge unconditional support,” CAOHC said in a statement.

Its support for the struggling unit was conditional upon sufficient resolution of the legal and regulatory issues concerning CAO, the parent company said.

“We are in talks with CAO to provide funding to its newly-incorporated subsidiary, CAOT Pte. Ltd., so that CAOT can resume jet fuel procurement business during this period prior to the implementation of the restructuring proposal,” CAOHC said.

The company has appointed a special task force to help with the restructuring.

It also pledges to provide “full cooperation to the investigating parties to enable the investigations to be completed expeditiously.”

In a separate development, the Business Times reported Wednesday CAO’s chief executive officer Chen Jiulin had resigned as president of the trade group China Enterprises Association Singapore (CEAS).

Ji Haisheng would replace Chen as president of the CEAS, which had 120 members, the paper said.

The CEAS said the CAO affair was an individual case and would not affect its operation.

CAO is being investigated by Singapore’s stock exchange authorities, the Monetary Authority and the Commercial Affairs Department after it shocked the market last month when it disclosed a US$550 million loss in oil derivatives trading.

Close