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Acqiring Palm Oil Biofuel Engineering Firm
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Hulumas
Supreme |
30-Oct-2010 15:37
Yells: "INVEST but not TRADE please!" |
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Three years I have been waiting for this counter to invest in!
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henrytan
Member |
10-Aug-2010 17:23
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Why suddenly run up with good volume somemore? | ||
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zhuge_liang
Supreme |
08-Jun-2008 00:49
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Mr Yong Khai Weng and a number of other strategic investors have bought stakes in WS Bioengineering, Metax Engineering's associate company. The strategic investors will contribute their management and technical expertise in palm oil and other vegetable oils type industries, and at the same time to explore into oleochemical related and other downstream industries. |
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zhuge_liang
Supreme |
03-Oct-2007 13:17
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The target firm WS Bioengineering owns a majority controlling stake in Oiltek Sdn Bhd, a Malaysian company which has been in the business of designing and constructing palm oil refining, nutrient extraction and biofuel refining facilities in key developing markets of Asia, Africa and Central America, with over 25 years of experience. The acquisition is aimed at boosting future earnings, diversifying from their core water treatment and hydro-engineering capabilities and opening new business opportunities in the engineering and construction of palm oil refining and related facilities. Metax Engineering will stand to benefit financially from having a profitable biofuel and palm oil engineering firm to boost its bottom line. The Group will be able to gain access to additional business opportunities by taking on the engineering, procurement and construction (EPC) of integral facilities such as power generation, steam generation, water and waste water treatment plants as well as oil tank farm facilities. Total purchase consideration is estimated to be $5.74 million for a 40% stake in WS Bio which will be priced at a PER of 4.1x of WS Bio?s group profit after tax for 12 months ended 30 Jun '08. Acquisition will be satisfied half by cash of approximately $2.87 million as well as issuance of approximately 13 million new shares at proposed price of $0.22 for each share. |
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