Announcements


Date: 22 May 2017

MEMORANDUM OF UNDERSTANDING ASIA BIOENERGY TECHNOLOGIES BERHAD ("ABT" or "the Company") - STATUS UPDATE ON MEMORANDUM OF INTENT BETWEEN ASIABIO PETROLEUM SDN. BHD., A WHOLLY OWNED SUBSIDIARY OF ABT AND ACME CHEMICALS (MALAYSIA) SDN. BHD. AND SEJAHTERA BUMISAMA SDN. BHD.


Type Announcement
Subject MEMORANDUM OF UNDERSTANDING
Description ASIA BIOENERGY TECHNOLOGIES BERHAD ("ABT" or "the Company") - STATUS UPDATE ON MEMORANDUM OF INTENT BETWEEN ASIABIO PETROLEUM SDN. BHD., A WHOLLY OWNED SUBSIDIARY OF ABT AND ACME CHEMICALS (MALAYSIA) SDN. BHD. AND SEJAHTERA BUMISAMA SDN. BHD.

We refer to the Company's announcements made on 15 February 2017 and 28 February 2017 pertaining to the Memorandum of Intent ("MOI") entered between Asiabio Petroleum Sdn. Bhd. ("ABP"), a wholly-owned subsidiary of ABT, and Acme Chemicals (Malaysia) Sdn. Bhd. ("ACME") and Sejahtera Bumisama Sdn. Bhd. ("SBSB") to cooperate and collaborate to set up an integrated chemical blending and warehousing facilities to be based in Bintulu to specifically target multi-national well service companies supplying oilfield chemicals to Oil & Gas companies operating in Malaysia, which may include production chemicals, well stimulation and cementing chemicals, and drilling fluids ("Toll Blending business") and to establish collaboration and explore opportunities to develop, support, implement plans and undertake activities to establish the Toll Blending business that is beneficial to ABP, ACME and SBSB, the Board of Directors of ABT wishes to inform that there was no material development on the status of MOI since the signing of the above MOI dated 15 February 2017.

This announcement is dated 22 May 2017.





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