Chen Jiulin
China Aviation Oil
From Wikipedia, the free encyclopedia
China Aviation Oil (Singapore) Corporation Ltd(SGX: G92) is the Singapore subsidiary of China Aviation Oil. It was first incorporated in 1993 and mainly deals in jet fuel procurement and international oil trading. The firm commands a near-100% market share of the procurement of imported jet fuel for China's civil aviation industry.
The company came into public attention in 2005 when it was embroiled with a trading scandal, involving its chief executive Chen Jiulin with losses running up to $550m and the subsequent collapse of the company. Shortly after, the latter was arrested with the charge of insider trading, and was sentenced to 51 months' imprisonment.Its parent company has since came up with plans in an attempt to revive the company.
Votes:21
Comments: 0