Under the facility agreement, chairman and executive director Sit Kwong Lam is required to maintain control of the company.
Last month, Brightoil entered into a construction contract with China Petroleum Pipeline Bureau to build oil storage facilities with storage capacity of 1.94m cu m on the southern island of Waidiao Island in Zhejiang province, China.
Brightoil is the leading bunker supplier in China's southeastern Shenzhen port region and operates a fleet of ships comprising of bunker tankers, product tankers and VLCCs.
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