Volume 7 Issue 17
Oil Trader Ensnared in Scandal
April 24, 2020Hin Leong Trading, the giant oil trader at the center of one of Asia’s biggest current business scandals, is also a lubricants supplier with a plant in Singapore and a grease and a lubricant plant in China.
Couche-Tard Halts Caltex Aussie Bid
April 24, 2020Alimentation Couche-Tard Inc. has put on hold plans for a revised proposal to acquire Caltex Australia, citing economic impacts and uncertainty brought about by the Covid-19 pandemic.
Esso Thailand’s Lube Sales Down
April 24, 2020Esso (Thailand) Public Co.’s lubricant sales fell 5.7 percent last year, in line with a decline in the country’s sales of motor vehicles and motorcycles.
From Other Editions of Lube Report
April 24, 2020Covid-19 Impact Likened to Recession
Briefly Noted
April 24, 2020The China Association of Automobile Manufacturers reported that sales volumes for commercial buses declined in China’s six major regions in the first quarter, compared to a year-earlier. East China sales were down 19.6 percent at 19,900 units, Central South sales declined almost 25 percent to 10,900, North China’s sales dropped almost 51 percent to 50,800, Southwest China’s sales fell almost 47 percent to 50,300 units, Northwest China’s sales declined 51.6 percent to 30,000, and Northeast China’s sales slid 66 percent to 160,000.