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Hot Stock AsiaBio share up actively after news on 3 plants construction

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Hot Stock AsiaBio share up actively after news on 3 plants construction

Post by Cals Fri 21 Feb 2014, 20:25

Hot Stock AsiaBio share up actively after news on 3 plants construction

Business & Markets 2014

Written by Jonathan Gan of theedgemalaysia.com

Friday, 21 February 2014 11:54

KUALA LUMPUR (Feb 21): Asia Bioenergy Technologies Bhd (AsiaBio) was amongst the most actively traded stocks after news today that the company is planning to construct three fuel production plants in Johor and Pahang.
At 10:54 am today, the stock rose 1.5 sen to 15 sen with some 35 million shares done.
According to the company’s announcement to Bursa Malaysia, the local incubator of start-up technologies via its unit Nexfuel Ltd has entered into a plant construction agreement to build three fuel production plants costing USD70 million (RM230.9 million) each.
The agreement was signed with Cool Planet Energy Systems Inc, a US-based clean technology company that would allow Asia Bioenergy to use its technology in building the plants.
Under the terms of the plant construction agreement, Nexfuel shall be responsible for securing funds, feedstocks, permits and approval required for the building of Cool Planet’s Green Gasoline plants in Malaysia with its identified partners.
“Each plant is estimated to cost USD70 million (equivalent to approximately RM230.9 million) for the total production of 10 million gallons of Green Gasoline,” said the announcement.

Cals: Administrator; Posts : 25277 Credits : 57721 Reputation : 1766
Join date : 2011-09-08
Location : global
Comments : â€œMy plan of trading was sound enough and won oftener that it lost. If I had stuck to it Iâ€d have been right perhaps as often as seven out of ten times.â€
Stock Exposure : Technical Analysis / Fundamental Analysis / Mental Analysis

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