Wednesday, February 16, 2011


UniFiber: Co has settled with China National Machinery Equipment (CMEC) on co’s debt for $19.5m which was owed to CMEC announced on 7 Feb. Update on the subscription of shares from ASF, Sec Industry Council has granted the whitewash waiver so ASF’s will not have to make a general offer and will likely proceed with the subscription of 3.6b shares at $0.05 approx 51% of co’s enlarged share cap and offer a $35m loan to co first announced on the 13 Jan...

In the 3rd piece of news, co has also received a demand of $10m from Falcon due to an owed payment. This is likely to come from the loan ASF has granted. ASF is a private fund owned by a sole investor Mr Oei Pheng Lian who has business interests in mainly the financial industry.

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