CEFC, released results overnight. 2Q15 loss narrowed 10% to US$0.457m, while revenue sank 46% to US$26.2m, affected by the global oil market.
In the management and discussion section, management wrote " Moving forward, the Group will continue to focus on its global oil and petroleum trading business, as well as exploring other opportunities to diversify its income stream."
http://infopub.sgx.com/FileOpen/CEFC announcement - Q2FY2015.ashx?App=Announcement&FileID=360289
On 13 Jul, They were queried regarding trading activity, and they said it could probably be due to an announcement on 7 Jul.
On 7 Jul, they announced they were in discussions to acquire equity interest in a company that owns a floating storage, and also in discussions with a consortium to acquire equity interest
in a company that is currently engaged in the construction of certain port facilities and cargo
transportation in China