TSMP Law Corporate dispute resolution partner Kelvin Koh has been quoted by Reuters on 27 Feburary 2020 in a story on Chinese oil trader Hontop Energy, which is his client, having gone into receivership in Singapore. In the story, Kelvin, acting on behalf of Hontop, said: “Hontop continues to be run by the existing management. The receiver has been appointed over specific charged assets which mainly relate to one trade transaction financed by DBS. Their involvement is limited to realizing DBS’ security and to discharge DBS’ debts.”
“China Wanda Group maintains a positive outlook on the future growth of its oil refinery business in China,” he added.