refinery and petrochemical contracts

SINGAPORE – 14 July 2009 – Advanced Holdings Ltd. (“Advanced” or the “Group”)

supplier of proprietary process equipment and technologies, clean energy solutions and

environmental technologies, today announced that it has successfully secured three new

contracts totaling approximately S$17.0 million.

Two of these projects, which were awarded to Advanced by the PRC’s largest oil and gas

producer, Petrochina, are for petrochemical plants located in the country’s Sichuan and

Liaoning Provinces, while the third is for an oil refinery, owned by India’s flagship national oil

company and downstream petroleum major, Bongaigaon Refinery and Petroleum Limited.,

in Assam, India. These contracts are not expected to have any material impact on the

Group’s earnings in the current financial year.

Commenting on the new contracts, Managing Director of the Group, Dr Kar Wong said,

“Even though Advanced has been following on these projects way back in 2008, the project

deliberation and awarding period by our customers were lengthier as compared to previous

years, understandably so given the economic uncertainties last year. I am elated that our, a global

Advanced Holdings Ltd.

Advanced successfully clinches S$17.0 m in refinery and

petrochemical contracts Page 2 of 3

e: Sales@AdvancedHoldings.com

w: www.AdvancedHoldings.com

Company Registration No. 200401856N

efforts have finally paid off and believe that our success is a reflection of Advanced’s

established track record and our ability to meet and exceed the exacting standards placed

on us by our customers in the petrochemical and O&G industries in the PRC and India”

He added, “Advanced recorded outstanding orders of S$59.0 million as at 31 March 2009,

and despite a slow start this year due to the global crisis, Advanced is now beginning to gain

traction. We are seeing some signs of stabilisation in financial markets and revitalization in

the PRC as the effects of the Chinese government’s 4 trillion Yuan (US$570 billion) stimulus

package kick in. We are heartened by these developments and the positive impact on our

business growth. ”

Earlier this year, the Chinese government announced that it is speeding up the development

of 40 petrochemical projects from 2009 to 2011 as part of its stimulus plan for the industry.

These projects include 20 that are already under construction while the others are still in

the planning stage. These projects are mainly in oil refining and production of

petrochemicals. The petrochemical sector is expected to see industrial added value growth

of 15% annually from 2009 to 2011, according to the plan and by 2011 the added value of

the industry will amount to 1.75 trillion yuan (US$256 billion) a year

In the PRC, Advanced will supply process equipment to two multi-billion petrochemical

complexes. The expected completion of the both projects is targeted for 2010.

In India, the Group will design, manufacture and supply a Fuel Blending System

incorporating Near Infra-red Spectrophotometer technology for Motor Spirit Quality

Improvement Project (MSQ) to a refinery in Assam. The blending system will help the

refinery to achieve the Euro - III and better quality specification of Motor Spirit which will

become applicable from April 2010 as per Auto Fuel Policy of the Government.1.

The Company may seem to be doing some share buy back the past 2 days but they certainly don't seem to want to support the share price / share value of the Company & its share-holders.

Something is just not right with this counter.  I find the Company's action / inaction troubling.  Consider the following :

They bought back 787 lots on Tuesday at $ 0.19c but allowed the share price to drop to S$ 0.185c with the last 20 lots traded at the end of the day.  Don't you think that they should have bought the last 20 lots at S$ 0.19c too instead of allowing the share price fall to its lowest level of the year at S$ 0.185c ??   Not very clever, isn't it ?? 

They bought back 228 lots yesterday.  The share was trading at between S$ 0.185 - 0.19c throughout the day but during the closing period when the buy queue was at S$ 0.18c and the sell queue was at S$ 0.19c (with nothing in between) somebody put in a sell trade of 65 lots at S$ 0.18c.  The counter would have closed at S$ 0.18c for the day. 

At around 5.02 pm, somebody put in a buy trade of 58 lots at S$ 0.185c.  The counter would have still closed at S$ 0.18c as the buy quantity was lower than the sell quantity.  Fortunately, there was another 10 lots added onto the buy queue of S$ 0.185c at 5.04 pm pushing the buy quantity (68 lots) above the sell quantity (65 lots) and the stock closed the day at S$ 0.185c. 

From the facts shown above, it is obvious to me that somebody is trying to manipulate the share price of Advanced Holding to the detriment of small investors like us.  It is quite ridiculous that the price keeps on falling even with a dividend of S$ 0.0035c due soon.  The Managment may appear to be doing a share buy-back to support the price but they are deifinitely not doing a good job of it or in the right way...   

I was skeptical at first when I read about Knightriders' theory but I am beginning to think now that he may be not be that far off... 

It will be interesting to see how the story unfolds.

Meantime, I urge all share-holders / investors to closely monitor the trading action of the counter.

It is obvious that somebody is manipulating te share price of this counter.

There were 797 lots done today, all at S$ 0.19c except for the last 20 lots at S$ 0.185c to push the price down.

I was checking the buy / sell queue throughtout the day and noticed that there were only 2 slevels queueing to sell, one for 40 lots at $ 0.195 and the other for 99 lots at S$ 0.24c.  There was nothing in between.  It is extra-ordinary that with the higher than normal volume done today the share price still closed S$ 0.005c lower with the last 20 lots done at end of day.

The price has remained stagnant at S$ 0.19c for the past week without any support from the Management and you can see at the end of the trading day there is always a sell queue of 20 lots slooted at the next level down.

It is time for the Management of Advanced Holdings to be more vigilant and to check / stop this manipulation of the share price...

On the other hand, you may not be that far off after all, Knightrider.