© Shutterstock / Nattee Chalermtiragool

Financially crippled Asia-focused upstream player KrisEnergy has finally admitted defeat and filed a winding-up petition to the Grand Court of the Cayman Islands. In response, state-backed Keppel Corporation, the largest shareholder in the Singapore-listed company, appears intent on seizing KrisEnergy’s remaining assets in Asia.
KrisEnergy said on 4 June that it is unable to pay its debts and will proceed to liquidation.
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