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I find it very strange. Why is the price so much below the placement price.
new to charting, looks like downtrend. anyone can confirm? thanks
mAreA16, seems like your inside info is about them having profit hehe, chart wise dont seem that good, hope i am wrong, all the best.
My friends and i we had consolidated more than 3000 lots between $0.21 and $0.22 with a combination of CASH and CPF. We have some inside information that they are going to release some news for profit profit taking. This news will be release withing these 2 weeks. We are still looking to log in some more awaiting for the news.
high volumes yesterday at 21-21.5. Any news about this?
bought this stock for more than a month, price traded within narrow range despite there were high volume transacted at times.... very difficult to cheong beyond $0.23. still holding and hoping to make some profits.
need to wait for total digest at 21 cents b4 it will cheong all the way
something cooking here at Lereno......any gurus comment?
Biodiesel makers including Lereno have been making up most likely on the Biodiesel Forum 2007, which will be held this week. Pls refer to the Wilmar - Bio-diesel thread (post dated 30 Mar) for details.
Someone is collecting at the current level. 30c should be the next level to breach soon!
High volume today.
Any brewing news?
Regards
Lereno Bio-chem has completed the acquisition of Lereno Sdn Bhd satisfied by the issue of 350m shares at $0.05 each. This will result in a total issued shares of around 1.2004b. The new shares will start trading on 21/3.
Its biodisesel plant in Lumut is at an advanced stage of construction and "by the end of '07 it will be in production and Jun '07 will see full capacity commercial operations under way".
Hi Singaporegal,
With oil price coming down what is the trend of this ctr? seems to be sidelined forpast week and now down.
Good volumes on this counter. Looks like its on an uptrend.
MAE, which is building a biodiesel plant in Malaysia, said it plans to buy palmoil and sugarcane plantations across Southeast Asia and also plans to produce bio-ethanol fuel.
It is building its first 60,000 tonnes-a-year biodiesel plant in Malaysia, which is set to start operations in April. It also plans to start building a 150,000 tonne biodiesel plant and a 100,000 tonne bio-ethanol plant in Singapore by 2008, CEO Ong Puay Koon told Reuters in an interview on Monday.
Both plants will be situated on Jurong Island, where Singapore's petrochemicals industry is based.
"We will eventually become a biofuel manufacturer with interests both upstream and downstream across the value chain of the business," Ong said, adding that MAE wants to buy a palmoil plantation in Malaysia or Indonesia to secure feedstock for its biodiesel plant.
"We are looking for plantations, palmoil at first. Downstream would be facilities to process biofuel by-products like glycerin and fatty acids that will take us into the oleo chemical business," Ong said.
He said that MAE Engineering plans to change its company name to better reflect its new focus on biofuels, but declined to reveal the new name.
The firm entered the biofuel business in September when it took a 38% stake worth $17.5 million in unlisted Lereno Sdn Bhd, which owns the biodiesel plant that is under construction in Malaysia.
Lereno has a license to build biodiesel plants in Malaysia and owns a patentable technology to produce without additives a "winterised" biodiesel that would not coagulate up to a low of minus 15 degrees celsius -- a specification that meets the European Union standards for biofuels, Ong said.
Ong said that MAE's restructuring from a construction firm into a biofuel maker means it would likely post its fifth annual loss in a row when its fiscal year ends in March 2007.
"It's difficult to be profitable this year as we still have to write down a lot of assets from the company's previous business," Ong said.
"But for March 2008 we are very hopeful, because by then we will have some of the income of the Lereno biodiesel plant," he said, adding that the plant is expected to produce about 30,000 tonnes of biodiesel in 2007.
MAE's peers include Wilmar, which has 3 biodiesel plants starting operations in Indonesia next year, and Advanced Holdings , which plans to build a biodiesel plant in Malaysia.
Australia's Natural Fuel last week broke ground for a plant in Singapore that it said would eventually have the capacity to produce 1.8 million tonnes of biodiesel, which would make it the world's biggest such facility. Germany's Peter Cremer and Singapore's unlisted CMS Resources are also building biodiesel plants in Singapore.
There's an article with some relevant info on MAE's biodiesel in today's Business Times. Salient points: export to high-end lucrative European markets; patented "winterisation" technology that prevents fuel from coagulating in cold weather; meeting stringent European specifications.
while I welcome alternative fuel so that the whole world will hv less pain in xxx from mid east. export? to where? what's the content of palmoil ratio to diesel? it is a catch 22 situation. oil prices comes down it does not make sense to get onto biodiesel as profit erosion kicks in. demand for palm oil creates higher crude palm oil prices hence higher cost for feedstock. Some of the end products are useless and redundant. Does the biodiesel has a lifespan on the shelves?Definitely gonna be suckers style ie raise funds for building the plant. Nothing is cheap in Spore vis-a-vis hv a plant in Msia or Indonesia as biodiesel is very labour intensive.
We're just into the beginning of the biodiesel sector. It's for export. But low oil prices will decrease the allure for biodiesel.
we are into LNG so why we need a biodiesel plant for what? It is only those plantation counters that will rip max benefits as the feedstock comes from their backyard.. If everyone jump into the next big sexy thing it is akin to the dot com bubble. Wilmar already said that they are building the biggest in the world to take advantage of first mover advantage.
The Jurong island plant may cost $150 - $200m.