Titan Petrochemicals Group Limited
1192.HK
Hong Kong Stock Exchange0.32
HKD
+0.04
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Titan Petrochemicals Group Limited
1192.HK
(Hong Kong Stock Exchange)
Recent
price
0.32
P/E
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div
yld
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Titan Petrochemicals Group Limited (1192.HK) is a Bermuda-incorporated investment holding company principally engaged in the provision of oil logistics and marine services in the Asia Pacific region, particularly in China; it offers a broad range of oil-related services, including oil storage, shipping, distribution, and trading platform services; trades in oil, petrochemical, and related products; manufactures and sells steel structures; and provides shipbuilding and ship repairing services. The group historically operated end-to-end oil sourcing, transportation, storage, and wholesale distribution, with additional capabilities in bunker refueling and management services for its logistics segments. Founded in 1998 and headquartered in Hong Kong at 4902 Sun Hung Kai Centre, 30 Harbour Road, Wanchai, the company targets maritime, industrial, and trading customers across Asia Pacific markets. In recent major developments, trading in the company's shares on the Hong Kong Stock Exchange has been suspended since April 1, 2021, due to failure to meet resumption guidance; the listing was cancelled effective August 23, 2023, under HKEX Rule 6.01A(1) following decisions by the Listing Committee and Listing Review Committee, with the company entering liquidation proceedings. These actions stem from prolonged financial difficulties, including significant losses since 2008, liquidity issues, auditor concerns over going concern status, and unsuccessful asset disposals or subscriptions, leading to delisting and wind-up petitions in Bermuda as early as 2021. No recent partnerships, acquisitions, funding, or operational expansions are reported post-suspension, reflecting a strategic shift to insolvency processes rather than business growth.