Biofutures International Plc

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Biofutures International plc (AIM: BIP) is a UK investment company which invests in the energy and utility sectors and their related infrastructures in Europe, Asia and the Middle East. BIP was incorporated in the UK in February 2006 and was admitted to trading on the AIM market on the London Stock Exchange in May 2006.

BIP made its first investment in November 2006, when it acquired Zurex Corporation Sdn. Bhd. (716231-V) ("Zurex"), a company that is incorporated in Malaysia. Zurex has been issued with a licence to manufacture biodiesel from palm oil and also a refinery licence to refine palm oil in Lahad Datu, Sabah, Malaysia.

16 July - Construction update

Administration Building Boiler House Based on the latest progress report, we are happy to update that the physical process plant and other components are progressively being dispatched and installed. However, our contractors, WS Bioengineering Pte Ltd, are of the view that the process of synchronizing the dispatch and installation of process equipment with that of the construction schedule is part reliant on factors that are beyond their control, such as weather and barge (shipping) schedules. As such, while the completion date of the refinery's building and infrastructure remains achievable, the process equipment's assembly and, hence, the commencement date for the production of refined oils may be affected.

The Board is monitoring the situation very carefully and will advise the market if there is any change to the target date.

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