DR HO LENG WOON
Executive Chairman
Parent Board Chairman; handed the CEO portfolio to Ho Chee Hon in May 2015.The business, the people and the ownership behind AP Oil.
Business overview
AP Oil International manufactures lubricating oils and specialty chemicals. Its operations include blending facilities in Singapore and an associated lubricants business in Vietnam, with additional activities in China.
Listed security
Board & management
Six Board members: four executive and two independent nonexecutive directors. Two additional key executives are named. Chang Kwok Wah and Ewe Tuck Foong also serve as Company Secretaries and are shown once each.
Ho Chee Hon is Group CEO and the son of Executive Chairman Ho Leng Woon. Mah How Soon is Lead Independent Director. Subsidiary managing director roles are retained with their entity scope.
Executive Chairman
Parent Board Chairman; handed the CEO portfolio to Ho Chee Hon in May 2015.Director
Executive Director, confirmed by the Board composition. Financial management and Group policy responsibilities.Director; Group CEO
Executive Director and Group CEO since May 2015. Son of Chairman Ho Leng Woon; the two roles are held by different people.Director
Executive Director; also Managing Director of subsidiary A.I.M. Chemical Industries Pte Ltd and Company Secretary.Independent Director
Lead Independent Director and Audit Committee Chairman; also known as Ma Haoshun.Independent Director
Nominating Committee and Remuneration Committee Chairman.Managing Director
Subsidiary GB Chemicals Pte Ltd; not the parent Group CEO.Chief Financial Officer
Parent CFO since October 2024; also Company Secretary.Roles listed in Annual Report 2025; current appointments are not independently verified.
Holdings
Twenty registered/depository accounts, three substantial shareholder rows and seven shareholding contexts are dated 17 March 2026.
Ho Leng Woon and Lau Woon Chan are spouses with reciprocal deemed interests. Their two direct holdings total 78,937,500 shares. Ho Chee Hon’s direct holding is separate. No repeated addition of overlapping spouse interests.
Public float is approximately 41% as printed. The twenty largest accounts hold 75.99%; the report does not supply the exact public share count or a complete float reconciliation. No explicit treasury share count is given in this table. The printed twenty-largest total 75.99% equals the sum of rounded individual percentages; the aggregate share count divided by issued shares rounds to 75.98%.
10.66%Total interest
37.32%Total interest
Direct 11,468,937 shares; 6.97%; deemed –; –
At 17 March 2026. Ho Leng Woon and spouse Lau Woon Chan have reciprocal deemed interests in each other’s direct holdings; their interests overlap and must not be added repeatedly.$6,605,611.78
Singapore dollar share capital, distinct from the number of shares.164,531,172
Original issued ordinary-share denominator.Ordinary shares
Original share class.One vote per share
Original voting rights.1,216 shareholders; 164,531,172 shares
Original shareholding size-distribution totals.41%
Approximately 41% at 17 March 2026. The report supplies no exact public share count or bridge; not equivalent to the percentage outside the twenty largest registered accounts.75.99%Total interest
Total interests include direct and deemed holdings and may overlap across holders. These percentages should not be added together.
Registered holdings, including nominees and depositories; these do not establish ultimate beneficial ownership. As reported at 2026-03-17 · PDF p. 114
| Registered holder | Interest | Shares / units | Source |
|---|---|---|---|
| HO LENG WOON | 61,406,250 shares; 37.32% | PDF p. 1142026-03-17 | |
| LAU WOON CHAN | 17,531,250 shares; 10.66% | PDF p. 1142026-03-17 | |
| HO CHEE HON (HE QIHONG) | 11,468,937 shares; 6.97% | PDF p. 1142026-03-17 | |
| DBS NOMINEES PTE LTD | 8,168,213 shares; 4.96% | PDF p. 1142026-03-17 | |
| HO AYE ENG | 3,154,275 shares; 1.92% | PDF p. 1142026-03-17 | |
| LAU TONG HONG | 3,095,400 shares; 1.88% | PDF p. 1142026-03-17 | |
| PHILLIP SECURITIES PTE LTD | 2,152,630 shares; 1.31% | PDF p. 1142026-03-17 | |
| ONG KIAN KOK | 2,100,100 shares; 1.28% | PDF p. 1142026-03-17 | |
| GU JIAN LIN | 1,863,400 shares; 1.13% | PDF p. 1142026-03-17 | |
| ABN AMRO CLEARING BANK N.V. | 1,559,200 shares; 0.95% | PDF p. 1142026-03-17 | |
| NEO BENG BENG | 1,540,600 shares; 0.94% | PDF p. 1142026-03-17 | |
| HAN SEE KWANG | 1,531,800 shares; 0.93% | PDF p. 1142026-03-17 | |
| RAFFLES NOMINEES (PTE) LIMITED | 1,422,587 shares; 0.86% | PDF p. 1142026-03-17 | |
| CITIBANK NOMINEES SINGAPORE PTE LTD | 1,408,500 shares; 0.86% | PDF p. 1142026-03-17 | |
| TEO CHENG WOON | 1,302,800 shares; 0.79% | PDF p. 1142026-03-17 | |
| NG ZHENG XIONG | 1,285,000 shares; 0.78% | PDF p. 1142026-03-17 | |
| LIM BOON TAI | 1,160,600 shares; 0.71% | PDF p. 1142026-03-17 | |
| UNITED OVERSEAS BANK NOMINEES (PRIVATE) LIMITED | 1,000,238 shares; 0.61% | PDF p. 1142026-03-17 | |
| CHEE KWAI FUN (ZHU GUIFEN) | 1,000,000 shares; 0.61% | PDF p. 1142026-03-17 | |
| HAN CHOON SIANG | 862,000 shares; 0.52% | PDF p. 1142026-03-17 | |
Group structure
Ten subsidiaries are listed: eight held by the Company, AP Tang Mining through AP Oil Pte Ltd, and Singapore Life-Science Solutions and Supplements through A.I.M. Chemical Industries. AP Tang Mining is 90%; other current subsidiary holdings are 100%. The new dormant Life-Science entity has a prior-year dash, not a numeric zero.
Two equity-accounted joint ventures are disclosed: AP Oil Singapore (Chongqing) at 51% and AP Saigon at 30%. The report explicitly establishes joint control; a majority share does not reclassify Chongqing as a subsidiary.
Chongqing Zongshen Financial Leasing is a separate 12.5% investment at FVTPL. Unnamed Singapore SAFE and convertible-note counterparties are disclosed without legal names; no names or ownership percentages are invented.
| Company | Market | Ownership interest |
|---|---|---|
| A.I.M. Chemical Industries Pte LtdHeld by the Company. Toll-blending and manufacturing of specialty chemicals; trading chemical products.PDF p. 91 | Singapore; ownership 2025 100%; 2024 100% | |
| Alpha Pacific Petroleum (S) Pte LtdHeld by the Company. Oil blending services.PDF p. 91 | Singapore; ownership 2025 100%; 2024 100% | |
| AP Oil Pte LtdHeld by the Company. Manufacturing lubricating oils, oil blending and trading.PDF p. 91 | Singapore; ownership 2025 100%; 2024 100% | |
| GB ChemicalsHeld by the Company. Manufacturing and trading of cleaning and chemical products and equipment.PDF p. 91 | Singapore; ownership 2025 100%; 2024 100% | |
| Axel Oil Pte LtdHeld by the Company. Investment holding.PDF p. 91 | Singapore; ownership 2025 100%; 2024 100% | |
| AP VietnamHeld by the Company. Investment holding; formal name AP (Vietnam) Holdings Pte Ltd is defined in Note 16, physical page 90.PDF p. 91 | Singapore; ownership 2025 100%; 2024 100% | |
| Alpha Pacific Developments Holdings Pte LtdHeld by the Company. Dormant.PDF p. 91 | Singapore; ownership 2025 100%; 2024 100% | |
| AP Oil Singapore (Shanghai) LimitedHeld by the Company. Wholesale, import and export of lubricating oils.PDF p. 91 | PRC; ownership 2025 100%; 2024 100% | |
| AP Tang Mining Phil. CorporationHeld through AP Oil Pte Ltd. Dormant; two shares representing 0.008% are held in trust by certain Company directors.PDF p. 91 | Philippines; ownership 2025 90%; 2024 90% | |
| Singapore Life-Science Solutions and Supplements Pte LtdHeld through A.I.M. Chemical Industries Pte Ltd. Dormant; prior original ownership dash retained.PDF p. 91 | Singapore; ownership 2025 100%; 2024 – | |
| AP Oil Singapore (Chongqing) LtdHeld by the Company. Joint control and equity method are explicit in Note 17 on physical page 93; the 51% Chongqing holding remains a joint venture.PDF p. 92 | PRC; ownership 2025 51%; 2024 51% | |
| AP Saigon Petro Joint Stock CompanyHeld through AP Vietnam. Joint control and equity method are explicit in Note 17 on physical page 93; the 51% Chongqing holding remains a joint venture.PDF p. 92 | Vietnam; ownership 2025 30%; 2024 30% | |
| Chongqing Zongshen Financial Leasing Company LimitedUnquoted equity investment with a put option; entire hybrid instrument measured at fair value through profit or loss. Not classified as a consolidated subsidiary or equity-accounted joint venture. Fair value SGD5,414,000 in FY2025 and SGD5,688,000 in FY2024 on physical page 96.PDF p. 95 | PRC; 12.5% equity interests | |
Ownership interests and geographic information follow the annual report. Comparative years and footnote markers retain the report’s notation.
Senior executives
| Item | Value | Period / scope | Source |
|---|---|---|---|
| MR CHANG KWOK WAH | MANAGING DIRECTOR; A.I.M. Chemical Industries Pte Ltd | Key Executives | PDF p. 15 |
| MR ALPHONSUS CHUA | MANAGING DIRECTOR; GB Chemicals Pte Ltd | Key Executives | PDF p. 15 |
| MR EWE TUCK FOONG | CHIEF FINANCIAL OFFICER; AP Oil International Limited | Key Executives | PDF p. 15 |
| Mr Ewe Tuck Foong, CA & FCCA | COMPANY SECRETARIES | Corporate Information | PDF p. 16 |
| Mr Chang Kwok Wah, MBA | COMPANY SECRETARIES | Corporate Information | PDF p. 16 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
Related parties, people & properties
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Interested person transactions | there was no interested person transaction entered into by the Group in excess of $100,000 during the financial year | Group, FY2025 | PDF p. 41 |
| Sale of goods | 1,922 $'000 | Group, Joint venture, 2025 (comparative 2024: 1,923) | PDF p. 74 |
| Licensing fee income | 11 $'000 | Group, Joint venture, 2025 (comparative 2024: 11) | PDF p. 74 |
| Key management compensation | 1,564 $'000 | Group, 2025 (comparative 2024: 1,557) | PDF p. 74 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Financial guarantees | no claims on financial guarantees are expected | Group and Company, 31 December 2025 | PDF p. 107 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Remuneration of directors of the Company | 1,134 $'000 | Group, 2025 (comparative 2024: 1,126) | PDF p. 75 |
| Remuneration of directors of subsidiaries | 430 $'000 | Group, 2025 (comparative 2024: 431) | PDF p. 75 |
| Fees to directors of the Company | 90 $'000 | Group, 2025 (comparative 2024: 90) | PDF p. 75 |
| DR HO LENG WOON | 301,565 $ | FY2025 total remuneration | PDF p. 32 |
| MR HO CHEE HON | 390,330 $ | FY2025 total remuneration | PDF p. 32 |
| MR CHANG KWOK WAH | 298,541 $ | FY2025 total remuneration | PDF p. 32 |
| MDM LAU WOON CHAN | 143,235 $ | FY2025 total remuneration | PDF p. 32 |
| MR WAN KUM THO | 45,000 $ | FY2025 total remuneration | PDF p. 32 |
| top five (5) key management personnel | $897,000 | Group, FY2025, top five key management personnel who are not directors or the CEO | PDF p. 33 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Total | 118 employees | Group, Singapore, as at 31 December 2025 (FY2024: 113; FY2023: 111) · As at 2025-12-31 | PDF p. 143 |
| Item | Value | Period / scope | Source |
|---|---|---|---|
| Subsequent developments | There are no significant developments subsequent to the release of the Group’s and the Company’s preliminary financial statements, as announced on 26 February 2026 | Group and Company · As at 2026-02-26 | PDF p. 62 |
Extracted from Annual Report 2025 and checked against the cited pages; see the original report for full context.
Corporate information