Asia Bioenergy to set up one-stop hub ===============================
KUALA LUMPUR: Asia Bioenergy Technologies Bhd is venturing further into the oil and gas (O&G) sector with plans to set up an integrated one-stop chemical blending hub and centralised common user warehouse in Bintulu, Sarawak.
“The integrated centre will fully support oilfield chemical service providers like Baker Hughes, Halliburton Company and Schlumberger Oilfield Services as well as users in Sabah and Sarawak,” said Asia Bioenergy executive director Steve Tan.
“This will be a full-fledged O&G industry-compliant chemical blending and warehousing facility, the first in Sabah and Sarawak,” he added.
The centre will be set up through subsidiary AsiaBio Petroleum Sdn Bhd (ABP), in collaboration with ACME Chemicals (M) Sdn Bhd, a specialty chemical company with in-house expertise and formulation capabilities, and Sejahtera Bumisama Sdn Bhd.
The latter is a Sabah-based, Petroliam Nasional Bhd (Petronas)-registered company licensed to supply products and services to exploration and O&G companies in Malaysia.
Asia Bioenergy will manage and operate the facilities, as well as offer and promote blending services, decanting and warehousing services, custom-formulated chemical products and additives, and common chemicals and solvents to O&G contractors and operators in Sabah and Sarawak that would otherwise be sourced from Singapore.
“We will also support chemical sourcing, blending and warehousing services to upstream service providers.
“In Malaysia, the market for the production chemical category alone is worth RM110 million to RM130 million a year,” said Tan.
ABP operations head David Chuah said the partnership with ACME and Sejahtera Bumisama combined the specialised capabilities of each party.
In time, this will allow ABP to expand its business and product offerings in the O&G segment.
The venture is expected to be licence-based, with profit-sharing ratios to be mutually agreed upon.
“This one-stop chemical blending and warehousing facility in Bintulu targets the under-served market in Sabah, Sarawak and Brunei.
“This initiative is aimed at curbing rising costs faced by the O&G industry by acting as a hub-and-spoke point for all chemical contractors, providing cost-competitive logistics in line with the objectives of Petronas’s Coral Reduction Alliance programme,” said Chuah.
He added that Bintulu had the necessary infrastructure and ancillary services to support the venture.
“We are positive this will bring economic and social benefits to Bintulu, which has been designated as the new supply base operation for Petronas Carigali Sdn Bhd’s Sarawak O&G assets.”
The integrated centre is set to reduce operating expenditure by eliminating double-handling in operational activities, optimise use of resources, reduce procurement and contracting costs and eliminate capital expenditure on chemical contracts issued by Petronas and its production sharing contractors.
Successful my ass. Old news.bursa already reach 1750, this stock sitting at support level u say successful? If mou ok already shoot to 10cents or more.
Powerhuat can u see 5.5 very weak? When macd crossover after downtreand it s clear sign of buying will take place but this stock can go down just after crossover.thats why its on watchlist only. This only happens to useless stock like asiabio,at .
The analyst i told u his recommendation for stocks he gave daily all made at least 2 cents minimum.thats why when he put asiabio on watchlist,i was confident. Some of his stock have to wait few days or a week. Anzo he gave at 30cents reached 58cent,within 2 weeks.i hope asiabio can reach 10cents.
I'm interested in trading this counter. But it seems extraordinary. I dun have any knowledge in this stock. Any pro can share wat u think bout this stock?
Jackson buy and leave it ,lowest price 3.5 cents.nta 4cents so consider u buy 5.5cents,only 1.5cents obove nta. But dont think short term ,at least 2years b4 next uptreand unless they want to transform this company,so far only words,no action.
Someone losing alot of money in this counter.buy high now average down but stock not moving up,already nervous.when negatif comment on this stock quickly defend but deep in the heart worried like hell.welcome to bursa.hehehe
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Jackson Marquez
54 posts
Posted by Jackson Marquez > 2017-03-07 14:23 | Report Abuse
this counter can use for day trading?