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News Admin
 
Date
 09/06/2006
News Provider
 Mahamad Rodzi Abdul Ghani
News Source
 Reuters
Headline
 Singapore's Advanced Holdings to invest in biofuels


 
June 7 - The following statement was released by the company:
ADVANCED committed to advancing clean fuel technologies Incorporates two new subsidiaries to focus on clean fuel and biofuel technologies: Extends existing territorial agreement with DuPont

SINGAPORE - 07 June 2006 - Sesdaq-listed Advanced Holdings Ltd. ("Advanced" or the "Group") , the best performing stock in Singapore in 2005 in terms of percentage gain in share price, announced today that it has incorporated two wholly-owned subsidiaries, Advanced Clean Fuels Pte Ltd ("Advanced Clean Fuels") in Singapore, and Advanced Biofuel Technologies Sdn Bhd ("Advanced Biofuel") in Malaysia.

At the same time, Advanced also announced that it has signed an agreement with E.I. Du Pont De Nemours and Company ("DuPont") for an extension of agreement to include Thailand, Singapore and South Korea for DuPont's STRATCO proprietary alkylation process to meet the increasing criteria in pollution controls.

This latest exclusive agreement is on top of an existing arrangement with Advanced to market DuPont's STRATCO proprietary alkylation technology to oil refineries to manufacture alkylate, a near ideal form of clean fuel, in the People's Republic of China (PRC), announced on 2 September 20052.

The Group's latest developments signal its commitment to advance the adoption of clean fuel process technologies and equipment, including biofuel process technologies.

New Subsidiaries in Singapore and Malaysia

Advanced Clean Fuels, the subsidiary in Singapore, will serve as the Group's investment vehicle to invest and own clean fuel process technologies and equipment related businesses. Advanced Clean Fuels will also secure and/or acquire territorial exclusive rights to Clean Fuel process technologies and equipment.

Advanced Biofuel, the subsidiary in Malaysia, will serve as the Group's investment vehicle in the area of biofuel in Malaysia.

"The incorporation of these two companies adds an exciting dimension to our business model. We intend to explore the opportunities to provide process technologies, equipment and services in the areas of clean fuels and alternative fuels in hopes that this will form a major component of our businesses in the near future," said Dr Kar Wong, founder and Managing Director of Advanced.

"We have been developing Clean Fuel business for some years now and our strategic agreements with Clean Fuel leaders - Axens3, DuPont and MECS² - will position Advanced to further tap the growing demand for clean fuel process technologies and products."

"In Asia, particularly in Malaysia and Indonesia, we note an intense interest in the production of biodiesel using palm oil and other vegetable oil as feedstock. And in Singapore, The Economic Development Board has partnered Bosch, Shell, Mercedes-Benz, Volkswagen and Kuok Oil to spearhead the testbedding of biodiesel over a two-year trial period, beginning in late 2006."

"We are keen to tap into the opportunity of providing process technologies and equipment and the possibility of building and operating the biodiesel plants for potential investors. It is estimated that there is over one hundred biodiesel plants slated to be constructed in Asia over the next 5 years," enthused Dr Wong.

With the increasing focus on producing cleaner fuel to reduce environmental pollution and the growing adoption of biodiesel as an alternative fuel source, the potential market in these two areas are immense. One of Advanced's top priorities for the near term will be on securing a significant foothold in these two areas to position the Group strongly to secure more contracts in these areas in the future.

About Advanced

Started in 1993 to create a niche business by combining its engineering expertise in the supply of process equipment, Advanced has today established itself as an ISO9001:2000 certified specialist company which designs and supplies process equipment and process technologies to cater to the different needs of its customers in the chemical and petrochemical, oil and gas, power generation and micro-electronics industries.

While Advanced's key markets are the PRC and Singapore, the Group also has a base of global customers having handled projects for customers in Malaysia, South Korea, Hong Kong and United Kingdom.

With its offices strategically located in Singapore, Malaysia, the PRC (Shanghai and Beijing), Hong Kong and South Korea (Seoul), Advanced is well-positioned to tap into the further growth of these industries in the region.

Backed by its experienced engineering team, Advanced leverages on the latest available models and technologies and collaborates closely with its principals, most of whom are reputable international.

ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
Malaysian Palm Oil Board ( MPOB ) Lot 6, SS6, Jalan Perbandaran, 47301 Kelana Jaya, Selangor Darul Ehsan, MALAYSIA.
Tel : 603 - 7802 2800 || Fax : 603 - 7803 3533