Worth a look...

Recent announcement may explain why the rights issue never went ahead last year. There was a balls up with the paperwork and sinotrans and the broker only received their stake recently.
They had impressive FY results last March that pushed the stock to the current levels. Their only impediment seemed to be the high cost of fuel, and that is no longer a problem as we know.
I believe sinotrans will buy the rights because they want Richfield's market share, access to new ports, and the fact that it is listed on the ASX. They are buying into a company based in Singapore harbour for nearly two decades, that has a market cap of $10m with assets worth far more. The exchange rate has improved in their favour significantly, and I cannot comprehend that they will not take up the rights.
If you look at the proposal put to shareholders at the last AGM, it is inferred that they may even split the stock to increase the number of shares they will be able to issue under the 15% ruling.
They have not issued any new shares in the seven years they have been public (except the two board members who wrote themselves 20k each). And let's face it, we as stockholders, hate greedy board members!!!
I think this stock is being watched by more people than is apparent, it's just too damn small and too hard to get stock.
But when the bids appear they get filled.
Do yourself a favour and look into this little beauty. They have a rights issue up their sleeve, and a Chinese buyer, with a cheque book bigger than you could imagine.
And the share price has doubled in a week. DYOR