It will manage local and overseas fuel procurement and sales.
Sembcorp Industries' wholly-owned subsidiary Sembcorp Utilities incorporated Sembcorp Fuels (SF) as a subsidiary.
According to an announcement, SF was incorporated with paid-up capital of US$0.12m, which formed a wholly-owned subsidiary, Sembcorp Fuels (Singapore) (SF(S)) with a paid-up capital of US$0.1m.
The principal activity of the two subsidiaries is to manage international and domestic fuel procurement and sales.
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