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Desmi owner calls off sale

The owner and chief executive of Desmi has told his employees that the sale of the pump company has been postponed indefinitely. This is partly due to the coronavirus pandemic and a strained market, newspaper Børsen writes.

Bunker company impacted by Hin Leong scandal

Several banks in Hong Kong and Singapore have drastically cut credits for bunker companies following the Hin Leong scandal, announces smaller bunker company. Meanwhile, the smaller players are facing stiff price competition from the biggest players.

Hin Leong founder and his children sued for USD 3.5 billion

The founder of scandal-stricken Hin Leong Trading, Lim Oon Kuin, and his two children, are now being sued by accounting firm PwC, which is serving as judicial manager of the bunker company. The claim totals USD 3.5 billion, reports The Strait Times.

Lloyd's Register finds new CEO internally

Lloyd's Register, one of the world's biggest classification companies, will get a new CEO at the turn of the year when Alastair Marsh steps down. The new CEO has been found internally.

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