Chen Jiulin (Chinese: 陈久霖) was born on October 20, 1961, and he is the former Managing Director and CEO of China Aviation Oil (Singapore) Corporation Ltd (CAO).
Due to these incredible accomplishments, Chen Jiulin became a business legend and was named "The King of Aviation Oil".
In October 1981, Chen resigned from a bank in order to concentrate on the preparations for the college entrance exams and was admitted to Peking University in 1982.
In 1990 joined a Sino-German joint venture named Aircraft Maintenance and Engineering Co. Ltd. Beijing, where he worked as an assistant to foreign experts.
In 1993 he joined China Aviation Oil Supply Corporation and participated in the construction and negotiations of Hong Kong's new airport.
After that, he worked as the Chinese chief negotiator for South China Bluesky Aviation Oil Co., Ltd., Tianjin International Petroleum Storage and Transportation Co., Ltd., and other large projects.
CAO's predecessor, China Aviation Oil Transport (Singapore) Private Ltd., was also built up by Chen Jiulin.
In order to turn it around, Chen gradually monopolized the imported aviation oil market in China, increasing the company's purchasing and transportation power by taking the measures of participating in the tendering of China imported jet fuel, followed by bulk purchasing, centralized transportation and other methods.
Besides the significant improvements at CAO under Chen's leadership, the company also planned and led a series of Mergers & Acquisitions.
Chen purchased a 33% stake in the Aviation Fuel Supply Company of Shanghai Pudong International Airport on July 23, 2002, for a consideration of RMB370 million.
CAO has an excellent track record and received numerous honors, including Singapore's "most transparent" listed company twice.
The development of CAO was summarized and applied as a case study for the MBA education of the National University of Singapore.
The action of selling the vendor's shares was later blamed on the parent company by media and accused of concealing a public investment deficit and "insider's trading", but this also led to the imprisonment of Chen Jiulin, as he was sentenced for four years.
During the trial, Chen pleaded guilty to "insider trading, failure to disclose losses, making false financial statements and conspiring to deceive Deutsche Bank into handling the sale of a stake in the company in 2004".
However, the public query the qualification of Chen's serving as the vice president of a state-owned enterprise again, as the "State-owned Assets Law" claims that nationalized business' directors, supervisors and senior managements may not serve as directors, supervisors and senior management perpetually if he has caused major losses of state assets before.
Ma Junju, Chen Jiulin's PhD professor, accepted some reporter's interview in early July, 2010, and oppugned Singapore Court's sentence.
For instance, whether an oral presentation to Deutsche Bank can be used as evidence to identify deception or whether the sale of shares of China National Aviation Fuel Corporation to save the company is fully considered as an act of a legal person.