China’s Sinopec in talks to buy stake in Singapore’s Hin Leong

Chinese state energy company Sinopec is in early-stage talks with Singapore’s Hin Leong Trading Pte Ltd to buy a stake in an oil storage terminal that is partly owned by the Singaporean trader.

24, Apr. 2020

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HANOI, VNA - Chinese state energy company Sinopec is in early-stage talks with Singapore’s Hin Leong Trading Pte Ltd to buy a stake in an oil storage terminal that is partly owned by the Singaporean trader.

The sale could provide much needed cash for Hin Leong, one of Asia's biggest independent traders, Reuters reported.

The company owes a total of 3.85 billion USD to 23 banks.- VNA