Sembcorp unit begins proceedings against Hin Leong affiliate

Sembcorp unit begins proceedings against Hin Leong affiliate

Photo: Reuters

Sembcorp Industries on Monday said its Sembcorp Cogen unit had begun legal proceedings to assert ownership over some gasoil reserves stored in tanks at Singapore’s Universal Terminal, partly owned by oil trader Hin Leong Trading Pte Ltd.

Just last week, Sembcorp Cogen terminated its gasoil supply and storage agreement with Hin Leong Trading, which is being monitored by Singaporean authorities.

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