Inauguration Ceremony of Hengyi Industries International Private Limited, Singapore

Conrad Centennial Singapore 16 October 2017. Hengyi Industries Sdn Bhd today reached another milestone in its progress to develop an Integrated Oil Refinery and Aromatics plant at Pulau Muara Besar with the inauguration of Hengyi Industries International Pte Ltd (HII) based in Singapore.

Established as the refinery’s commercial arm to support the operations of the refinery in Brunei, Hengyi Industries International Pte Ltd will act as the intermediary between the major oil players in the region & Hengyi Industries Sdn Bhd. The organization will serve as the centre to source for all the raw materials that the refinery will consume as well as to secure sales channels for the refined products manufactured by the refinery.

HII will also function as the sole marketer for the refined products and petrochemicals from the refinery & on top of that, carry out third-party trade, hedging and other businesses to improve profitability and competitiveness, thus expanding the scale of operations in Singapore.

The event, held at the Conrad Centennial Hotel in Singapore was attended by Tuan Haji Rozaimee DP Haji Abdullah, Acting High Commissioner of Brunei Darussalam to Singapore; Mr Fang Xinwen, Chargé d’Affaires ad interim, Embassy of The People’s Republic of China to Singapore; Tuan Haji Abu Bakar bin Haji Ibrahim, Managing Director of Strategic Development Capital Fund, Brunei; Mr Qiu Jian Lin, Chairman of Zheijiang Hengyi Group, senior government officials as well as industry partners from Singapore & Brunei.

Early this year, Hengyi Industries Sdn Bhd announced its Final Investment Decision for Phase 1 of the project to be valued at USD 3.445 billion. Once operational, the Hengyi plant will process approximately 8 million tonnes (175,000 barrels per day) of crude and condensate annually and produce approximately 1.5 million tonnes of paraxylene; 500,000 tonnes of benzene as well as refined products such as gasoline, jet fuel and diesel.

Hengyi Industries Sdn Bhd’s PMB project benefits from access to Brunei’s many investment incentives provided to foreign investors, including a preferential tax and a stable environment for foreign companies to plan and invest with confidence.

From left to Right: Mr Michael Zhang, MD of Hengyi Industries International Pte Ltd; Mr Qiu Jian Lin, Chairman of Zheijiang Hengyi Group; Mr Fang Xinwen, Chargé d’Affaires ad interim, Embassy of The People’s Republic of China to Singapore; Tuan Haji Abu Bakar bin Haji Ibrahim, Managing Director of Strategic Development Capital Fund; Tuan Haji Rozaimee DP Haji Abdullah, Acting High Commissioner of Brunei Darussalam to Singapore; & Ms Amreeta Eng, Group Director of International Enterprise Singapore & Mr Chen Lian Cai, CEO Hengyi Industries Sdn Bhd

Mr Qiu Jian Lin, Chairman of Zheijiang Hengyi Group giving a speech at the ceremony.

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