About Us

Positioned at the Intersection of Energy, Capital, and Resources

Hoverwing Energy Pte Ltd is a Singapore-based trading and investment company operating across the oil and gas value chain and the resources sector. We connect producers, traders, and end-buyers across Asia Pacific, deploying commercial expertise and market relationships to secure reliable supply, optimise value, and allocate capital with long-term discipline.

Our platform sits within a broader group with experience across energy, commodities, and strategic investments. That foundation that supports both the scale of our trading operations and the rigour of our project-level capital commitments.

Our Role in the Energy Value Chain

Energy markets reward those who understand both sides of a transaction. Hoverwing operates as a principal: sourcing, trading, and delivering oil and gas products while also providing logistics solutions that underpin supply reliability for counterparties across the region.

At approximately USD 50 billion in annual oil trading volume, we operate at a scale that generates genuine market intelligence, informing every commercial decision from trade structuring to investment selection. We are not a passive intermediary; we take positions, manage risk, and deliver on our commitments.

How We Work with Partners and Counterparties

Counterparties engage with Hoverwing because we offer consistency. Our relationships are built on transactional reliability, transparent communication, and the ability to execute at scale across diverse market conditions.

We work with producers seeking offtake security, buyers requiring supply continuity, logistics operators needing commercial anchor clients, and investors evaluating co-investment opportunities in resource projects. In each case, our approach is the same: understand the commercial objective, structure a solution that serves both sides, and deliver without equivocation.

We do not operate through intermediaries where direct engagement is possible. Our trading desk, investment team, and logistics capability sit within the same organisational structure, so the people pricing a trade are the same people who understand the supply chain, the credit exposure, and the physical delivery obligation.

Our Approach to Capital Allocation and Risk

Trading liquidity and investment capital are managed under a unified risk philosophy: return is a function of knowledge, not leverage. We do not pursue yield through complexity. We pursue it through superior market positioning, disciplined counterparty selection, and rigorous assessment of commodity fundamentals.

When we commit capital beyond our trading book, we apply the same framework: evaluate resource quality, assess the demand trajectory, stress-test the economics, and ensure the investment aligns with where supply chains are heading, not where they have been.

Leadership and Governance

Tony Ong

Mr. Tony Ong is the founder and Group Chairman of Cogent Financial Group Limited (CFG), a private equity investment company based in Hong Kong. With AUM of more than one billion USD, CFG has controlling interests in companies around Asia Pacific in a variety of sectors that include Oil and Gas business, fintech, property development, hotel ownership and management, media and publishing, and commodities trading businesses in Australia, New Zealand, Japan and Singapore. From 2002 to 2020, CFG invested in more than 200 pre-IPO mezzanine financing projects and successfully aided more than 130 companies in their IPOs on various Stock Exchanges. CFG is and continue to be privately funded by Tony’s private investments in many businesses.

Tony is also Non-Executive Chairman of Crowe Horwath Capital Pte Limited. Crowe Horwath Capital is internationally recognised and licensed by the Monetary Authority of Singapore to provide quality corporate finance advisory and fund-raising services to companies listed on the Main Board of the Singapore Exchange Securities Trading Limited or companies and entrepreneurs with aspirations to do so.

In the property sector, Tony chairs Cogent Development Group Limited, an Australian public company involved in property development and investment in the Asia-Pacific region. Separately he is also the Chairman of Renga Pte Ltd, a fintech startup that is building a marketplace for yield-generative real estate assets for fractional ownership rights.

Tony started his career at the Singapore Economic Development Board (EDB)’s finance department, administering EDB’s S$1 billion Cluster Development Fund and later helping Singapore’s promising local enterprises in their development locally and overseas expansion. As a serial entrepreneur for more than 30 years, Tony has been investing in businesses of different sizes and been actively involved in their management, with the aim of building them up towards their next stage of growth, such as an Initial Public Offering. With his wide business experience and financial expertise, Tony also held directorships with seven public listed companies on the Australian Stock Exchange and Singapore Exchange.

Tony also served as an advisory panel member of the Singapore government’s feedback unit under the Ministry of Community Development, Youth and Sports from 2005 to 2007. He has also served in various capacity as Chairman People’s Action Party Nee Soon South Youth Wing, Town Councillor Yishun AMK GRC, Member CCMC, Advisory Board member of Secondary Schools under Ministry of Education.

Tony holds a Bachelor of Commerce degree (Banking and Finance) and a Master of Economics degree.

Mehrdad Karshenas

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.