SINGAPORE (Aug 8): Shares of China Aviation Oil (Singapore) Corp have more than doubled since the beginning of the year, but the group’s strong earnings growth means there is potential for the stock to climb even higher.

CAO is the largest physical jet fuel trader in Asia-Pacific and the sole supplier of imported jet fuel for the civil aviation industry in China. It supplies jet fuel to China’s second-largest airport through a 33% stake in Shanghai Pudong International Airport Aviation Fuel Supply Co (SPIA).

The group has also been building up its jet fuel supply business at airports outside China and engages in international trading of jet fuel and other oil products, as well as investing in related assets such as storage facilities.

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