China Aviation Oil (Singapore)

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Home > About Us > Milestones

Milestones (from 2006)

2009 (to date)
26 June Entered into cooperation framework agreement with West Pacific Petrochemical Co., Ltd
15 April Entered into cooperation framework agreement with CNOOC to purchase a portion of CNOOC Huizhou Refinery's total export quota for jet fuel
23 Feb Completed acquisition of 49% of equity capital in TSN-PEKCL

2008

4 December	CAO signed interim trading agreement with BP; more flexibility in methods of procuring jet fuel supply for supply to PRC
14 November	Dr Wang Kai Yuen appointed as Independent Chairman in place of Mr Lim Jit Poh; Board Disclosure Committee disbanded
4 November	Ranked 9th in the 2008 Singapore International 100 Ranking
1 October	Set up petrochemicals trading team
9 May	Appointed Mr Meng Fanqiu as CEO; Senior Officers Meeting disbanded
23 April	Announced acquisition of 49% of equity capital of China National Aviation Fuel TSN-PEK Pipeline Transportation Corporation Ltd
March	Commenced jet fuel hedging and trading activities, moved away from pure back-to-back jet fuel procurement business model
28 February	Announced corporate strategy
14 February	Awarded Global Trader Programme Status by International Enterprise Singapore

2007

4 October	Winner of “SIAS Most Transparent Company Award 2007” (Runner-up in the Foreign Listings Category)
10 July	Ranked 12th in the 2007 Singapore International 100 Ranking
15 June	Appointed Mr Zhang Zhenqi as Executive Director/General Manager; Special Task Force disbanded
17 May	Completed and terminated Creditors' Scheme with full repayment of outstanding debt of US$73.3 million
30 April	Mr Sun Li appointed as Deputy Chairman
29 Jan	Reduced shareholding in Xinyuan from 80% to 39%
24 Jan	Announced sale of 5% stake in CLH for €171 million

2006

14 Nov	Adopted new corporate logo
May	Resumed jet fuel procurement on principal basis
29 Mar	CAO shares resumed trading after 16-month suspension; Marked successful debt and equity restructuring