Member Info for Gloster

Some good cornerstone investors there as well, and I think a commitment from some not to sell any shares for six months, so hopefully shouldn't do a Facebook. I just wonder if BIP's refinery is just too small to get noticed as a bid target. Having said that its location in POIC would make it attractive.

Anyone going?

anal cyst? In the short term the Malaysian government is manipulating CPO prices to puff up FELDA before its IPO. They'll then rectify the situation to compete with Indonesia. Ultimately, I don't have enough confidence in the directors as there's been too many slipped deadlines and lack of information to the market. They believed they'd be successful with the arbitration... They projected they'd be profitable by now and now it's the end of 2013... Wong is running the show and there is no decent balance at director level. If I cared about shareholder value and wanted to align my interests with them, I'd take off a lot more than 18% of my salary until the company was profitable and I was worthy of a decent reward. As I said before, a rising tide lifts all boats, when the markets recover and BIP with it, I'm off. Morgan Stanley is involved in the Felda IPO...

2. To re-elect Joe Wong as a Director. Comical. What a waste of £114,000 last year. If you want to be a millionaire, start with a billion and give it to BIP's management.

Looking forward to see how they explain themselves for their stellar work in the annual report. No wonder there was no trading statement, we're being treated to a masterclass in destroying shareholder value. Looks like juicing the NAV with goodwill and intangibles has come back to bite them. Dire fundamentals and setting up shop in the wrong country. Poor quality palm oil in Sabah! Do these guys do any forward planning or due diligence? A rising tide lifts all ships, will sell up when the market picks up again - should have gone earlier this year when it was above my buy price.

Keep an eye on the spread as well. The bid's stayed at 2.25 recently while the offer has been as high as 3, but now 2.5. 11.11% spread. Looks like results should be with us by next week, hopefully the silence has been to save up some blockbuster contract announcements (Martians sourcing their global needs for refined palm oil exclusively from BIP or the like - yeah everyone else at the asylum were sceptical too).

I'm still holding as well. Thought I'd be clever and sell some when it was 4.5p and buy more on a retrace, should have sold the lot and moved on elsewhere. Crap comms from the company, the monthly updates are always late, no trading statement and you're right they talked about setting up alliances and other crap before the refinery opened and they're still operating on a skeleton basis.

Not sure if they were all sells, I'm not a L2 user but moreforus from ADVFN (hope you don't mind) said this: "no there are O type sells ... then AT sells as the mm who was sold the stock sells them onto the book hitting the buy order there. the buy order is filled but another comes back....plus there is a 200k buy order on the book too... cant do a screenshot as it would be easier to explain but on the buy order side 100k at 3p 100k at 2.95p 200k at 2.9p these are LSE orders ie a total of 400k someone ..not a market maker...wants to buy then PLHC is 75k at 2.75p then on the offer side there is only LCAP on the offer at 3.25p in 75k and then there are 3 mms at 3.5p in 75k...."

Gman - I checked out the previous news releases and the pattern seems to be 2nd/3rd week of May. Although would be nice for some sort of prelim announcement so investors aren't operating on guesswork. No real surprise given the poor communications from the BOD. Maybe the long term contracts will cure that as well......

Still no update. Normally get one preceding final results.

Moreforus - was responding to guitarman's post. Riddler - Bottom pickers appearing are a good sign.

You've talked about selling recently, put it into action then if this is so toxic. Maybe when final results come out you'll be vindicated hence the lack of news from the company, or that they're busy attending to the business and closing deals to get the refinery working at higher capacity instead of fussing over the share price on a daily basis.

Anyone else (other than guitarman) been emailing the company?

Bid / Ask 2.75 - 3.5 - 27% wide. I wonder if these monthly updates are doing more harm than good... ;)

Large drop today, macro concerns or this cost cutting being taken the wrong way? Seems logical to me that if the refinery isn't yet earning then why should the directors, glad to see they're looking after the company's interests ahead of their own. Especially as it looks like they won't meet their KPI of being in profit by the end of 2011 if they're still waiting to sign these long term contracts.

Review - March / April 2012 Zurex Refinery - Discussions between international RBD Palm Oil buyers and the refinery's marketing team have been ongoing. Emphasis continues to be on maximizing long term benefits of the refinery with the available resources. Agreement to ship Palm Fatty Acid Distillate (a now valuable byproduct of the refinery) is also expected to be concluded in the near term. Meanwhile, the refinery's board members have unanimously agreed to a significant reduction (averaging 18.75%) in their remuneration as a cost saving measure. Palm and Soybean Oil Monthly Movement - MPOB - Production up 2.1% (1.21 mil), Export up 11.0% (1.34 mil), End-stock down 2.0% (1.96 mil) CME - (10/4/2012) Soybean Oil - 56.97 (+0.26) CME - (11/4/2012) Soybean Oil - 56.45 (-0.52) USDA - Soybean export up 15 million to 1.29 billion Soybean crush raised by 15 million to 1.63 billion Soybean end-stock at 250 million bushels, down by 25 million USDA - South America soybean production lowered by 25 - 30 million ton

Monthly review was due this week and it looks like they'll be late for the second month running. As the chairman has left, might be a decent time to put out an operations update to wake up the market and improve sentiment. More4us has mentioned a broker's note, a nice rainbow if we can catch it, Still no replacement for finance director either. PR needs a lot more work. POIC need to get their act together with the pipeline, wasn't this supposed to be online back in October???