Thu 10 Feb 2011 14:04

Chemoil appoints non-executive director


Glencore senior trading manager joins Chemoil's board of directors.

Chemoil Energy Ltd. has announced the appointment of non-executive director Hon Kim Weng.

In documents released to the Singapore Exchange, Chemoil said that Raymond Joseph Bartoszek, aged 46, had resigned as a member of the board of directors on January 31st 2011, while Hon Kim Weng had been appointed non-executive director on February 9th 2011.

Hon Kim Weng, aged 42, has been employed as Senior Trading Manager at Glencore Singapore Pte. since 2001. He also worked as Head of Fuel Oil at Marubeni International Petroleum (S) Pte. Ltd. between 2000 and 2001.

Glencore acquired a 50.8 percent majority stake in Chemoil in December 2009. The family of Chemoil founder Robert Chandran sold its majority stake in the company to Singfuel Investment Pte., a wholly owned unit of Glencore, for around $233 million.

Chemoil is also 37.5 percent owned by Itochu Corp. The remaining 11.7 percent of the company is in public hands.
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