Singapore-based AP Oil International Limited announced the incorporation of a new subsidiary, AP Oil Singapore (Chongqing) Ltd., in Chongqing, the Peoples Republic of China. The subsidiarys principal activity is the sales, import and export, and distribution of lubricants and related products.
The total registered capital of AP Oil Chongqing is RMB 2,000,000 (USD 312,000), which will be funded from internal sources. AP Oil International holds 51% of the registered capital of AP Oil Chongqing. The remaining 49% of the registered capital of AP Oil Chongqing is held by Chongqing New Era Lubricant Co, Ltd.
AP Oil International, formerly known as Huan Chew Oil Trading Pte Ltd, operates six manufacturing plants, three of which are dedicated to manufacturing lubricants. According to the company website, 90% of its lube products are exported to 20 countries, including New Zealand, Greece, South Korea, China, Taiwan, Hong Kong, Malaysia, Thailand, Vietnam, Myanmar, Indonesia, Cambodia, the Philippines, Bangladesh, Nepal, Fiji, as well as countries in the Middle East.
