Large Petrochem plant Jurong Aromatics go bankrupt. hancheng really pai in S'pore

[Papsmearer]

Singapore's Jurong Aromatics goes into receivership on debt woes
SINGAPORE, Sept 30

Jurong Aromatics Corp (JAC), which operates a large petrochemicals complex in Singapore, has gone into receivership after debt problems, according to its restructuring firm and a filing with Singapore's accounting authority.

JAC's debt problems mounted in recent months after it halted production in December to fix a technical issue amid a collapse in the price of oil and related products.

Specialist restructuring firm Borrelli Walsh said in a letter to JAC's creditors that two of its executives were appointed as receivers and managers of JAC this week by BNP Paribas. BNP Paribas is of the lenders to the company and the security agent for its assets.

JAC declined to comment.

Receivership is a type of corporate bankruptcy in which a receiver is appointed by bankruptcy courts or creditors to run the company.

The complex is one of the world's largest integrated aromatics plants. It operated a 100,000 barrels per day (bpd) condensate splitter, but since late last year those operations have been stalled.

South Korean conglomerate SK Group owns 30 per cent of the company and Chinese polyester maker Jiangsu Sanfangxiang Group owns 25 per cent. Glencore also has a 10 percent stake in the firm. (Reporting by Saeed Azhar; Additional reporting by Florence Tan and Rujun Shen; Editing by Edwina Gibbs)

 

[zookeeper]

Did we previously pump lots of money into Jurong/Tuas refinery facilities to attract foreign petrochemical-related companies?

 

[mojito]

A door closes, another door opens. On a positive note, it should be easier to get cabs on the road.

 

[eatshitndie]

i don't know who uses cd's these days, but apparently they are part of the supply chain. this is straight out.of their product website today. :p

 

[Hans168]

sg dun know how to earn money............. only tax sgian & profit from our CPF

 

[Happyhour]

Singapore's Jurong Aromatics goes into receivership on debt woes
South Korean conglomerate SK Group owns 30 per cent of the company and Chinese polyester maker Jiangsu Sanfangxiang Group owns 25 per cent. Glencore also has a 10 percent stake in the firm. (Reporting by Saeed Azhar; Additional reporting by Florence Tan and Rujun Shen; Editing by Edwina Gibbs)

The husband and wife team of Narong and Krafty own 10% of this Company.

 

[Scrooball (clone)]

If u leave it to Opposition to run the economy, they will close all manufacturing and focus only on services industry! That's even worse!

 

[Reddog]

We used to fight for the betterment of Singapore and its future.

69.9% decided that our ways were wrong.

Now we will focus on what we can take from Singapore and move on to a better future elsewhere.

 

[virus]

i don't know who uses cd's these days, but apparently they are part of the supply chain. this is straight out.of their product website today. :p

View attachment 24204

so which one is used to make condom that glows in the light?

 

[eatshitndie]

so which one is used to make condom that glows in the light?

that will be from erection's rubber factory which makes latex products including spandex on g-strings.

 

[KimJongilia]

If u leave it to Opposition to run the economy, they will close all manufacturing and focus only on services industry! That's even worse!

thank u for politicizing this thread.