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Big volume, including 30m married deal yesterday. Today got another 1.5m married deal. Someone bought 30m which is 15% of share issue. He/she has to declare interest by tomorrow.
Something is up ... fishy
Placement to wee hur directors....
Looks like something is up for this losing company
Metax Engineering, a home grown environmental engineering company, completed its acquisition of a 40% stake in WS Bioengineering, a firm which 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.
The acquisition is aimed at boosting future earnings and opening new business opportunities in providing engineering and construction of palm oil refining and related facilities.
Commenting on the key long term benefits from this acquisition, MD Mr Tan Tze Wen said "We have been building a stable base of projects around our core water treatment and hydro-engineering capabilities. But it is also important to look beyond our traditional business segment to accelerate our growth. We believe that this acquisition will be the first step towards that objective."
The acquisition is expected to benefit Metax Engineering on two fronts. Firstly, Metax Engineering will stand to benefit financially from having a profitable biofuel and palm oil engineering firm to boost its bottom line. Secondly, the Group will be able to gain access to additional business opportunities by taking on the engineering, procurement and construction of integral facilities such as power generation, steam generation, water and waste water treatment plants as well as oil tank farm facilities.
WS Bio is a Singapore-incorporated company whose principal business is in the engineering and construction of palm refining facilities, nutrient extraction facilities and biofuel refining facilities. WS Bio also owns a majority controlling stake in Oiltek.
Oiltek, which has over 25 years of experience, has been serving the edible oil processing industry throughout Asia, Africa and Central America. The firm engineers, procures and constructs facilities meant to extract oil and nutrients from fruits of plants such as oil palm. Specifically, Oiltek provides a full range of customised solutions, which include complete edible oil refining plants, improvement to production system in existing refining operations as well as individual components of refining plants, like heat exchangers, heating system, tower packing and so on.
Currently, plants designed by Oiltek are in operation in more than a dozen countries throughout Asia (in countries such as Malaysia, India, Indonesia, Thailand, Phillipines, Bangladesh and Vietnam), Africa (in countries such as Nigeria, Kenya, Egypt, Tanzania and Zaire) and Central America (in countries such as Costa Rica and Honduras).