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AFCO Energy launches new petrochemical trading business

Singapore, February 15, 2016

New trading arm steps up to help strengthen customers’ competitive edge

AFCO Energy Pte Ltd officially launched its new division, AFCO Petrochemicals Pte Ltd, today at its Battery Road headquarters.

The new company specializes in the trading and risk management of petrochemical products and its derivatives. Ali Nael, managing director of AFCO Energy, said his company and its new division will better serve customers by providing holistic solutions.

“We want to take advantage of the market inefficiencies resulting from the consolidation of the energy industry and flux in the restructuring of national economies,” Mr Nael said. “Such broad changes will open the doors for AFCO Petrochemicals, which though newly-set up, is managed by experienced traders widely respected in the petrochemical industry.” 

AFCO Petrochemicals is headed by Managing Director Lim Fang Wei who has, since 1997, led teams at Voest-Alpine, Shell, Noble, BP, and China Aviation Oil. He was an aerospace engineer and investment banker prior to starting his trading career.

Mr Lim says the new trading arm aims to build confidence in a global climate of uncertainty by delivering petrochemicals safely and reliably. “Historically, when markets are exuberant, less attention is paid to the quality of growth. Some players bail out when the market does not afford the outsized returns in the short term,” he explained.  

“At AFCO Petrochemicals, we wish to address this. The benefit we hope our customers see in partnering with AFCO is that we are consistently available and can be trusted to execute for our customers with integrity & excellence. These are the TIE -Trust, Integrity, Excellence- values we espouse.

AFCO Petrochemicals Managing Director Lim Fang Wei stands next to oil trader Chan Chi Long

When asked what AFCO Petrochemicals will do in the current weak and volatile oil market environment, Mr Lim said: “I have learnt, during times like these, to pay close attention to what my customers need. Then we work relentlessly hard and smart to deliver solutions which will position them and us to maximise value when the market recovers."

He added, “There are still opportunities in China but India, the Middle East, and some Southeast Asian markets have become increasingly important. Therefore we aim to provide timely and transparent information so that our customers can make profitable decisions.”

AFCO Petrochemicals Pte Ltd (www.afco-petrochemicals.com) is a division of AFCO Energy Pte Ltd, with offices in China and India. AFCO is owned by the Netherlands-incorporated FinCo Fuel Group.

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