CITIC Envirotech (formerly: United Envirotech)

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#1
United Envirotech Inks RMB280 million Wastewater Treatment and Recycling Projects

• Contracts involves acquiring, upgrading and operating a 80,000m3/day wastewater treatment plant and a 40,000m3/day wastewater recycling plant at Tangshan, Hebei Province

• Project to be completed by end of 31 December 2011 and positively impact FY2012 performance

• Group will continue to seek municipal and industrial projects to further enhance shareholder’s value

http://info.sgx.com/webcoranncatth.nsf/V...1002AD633/$file/UE.Press.Release.pdf?openelement [Press Release]

http://info.sgx.com/webcoranncatth.nsf/V...1002AD633/$file/UE.Wastewater.Treatment.and.Recycling.Project.pdf?openelement [SGX Announcement]

I believe it will be owned by a 50:50 JV company between United Envirotech and Memstar. This will increase the high-margin recurring treatment revenue stream to the Company. UEL recently reported a commendable $14.36 million net profit for 9M 11. At the moment, the bulk of its top-line comes from its EPC department.

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Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.
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#2
There are a few waster water treatment companies listed here, I chose this one. I have confidence on its technology.
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#3
United Envirotech large BOT plants and recent high profile EPC projects does pay testaments to its MBR technology.

With the proceeds from the recent secondary listing and China Merchants loan facility, it is highly possible that they will grow their treatment capacity rapidly this year.

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Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.
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#4
DMG maintains its 'Buy' rating on United Envirotech.

http://www.remisiers.org/cms_images/09Fe...rotech.pdf
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.
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#5
OCBC: Tapping on China's growing water industry [BUY]

http://www.remisiers.org/cms_images/Unit...11-OIR.pdf

Will Sinomem privatization bring more interest to this water company ?

(Not Vested)
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.
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#6
http://info.sgx.com/webcoranncatth.nsf/V...E003726D5/$file/UE_Share_Sale.pdf?openelement - SGX listed Viking O&M ceased to be a substantial shareholder in UEL.

UEL reported record earnings in the previous month - http://info.sgx.com/webcoranncatth.nsf/V...A000B74D5/$file/UE.FY2011.pdf?openelement

(Not Vested)
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.
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#7
United Envirotech Announces a New US$113.8 Million Convertible Bond Investment by KKR

http://info.sgx.com/webcoranncatth.nsf/V...E0081199B/$file/Poseidon_Press_Release01082011.pdf?openelement [Press Release]

http://info.sgx.com/webcoranncatth.nsf/V...E0081801C/$file/Project_Poseid_on_Announcement_01082011.pdf?openelement [SGX Announcement]

UEL share price surged 12% to close at $0.395 today in response to this announcement.

(Not Vested)
Disclaimer: Please feel free to correct any error in my post. I am not liable for anything. Do your own research and analysis. I do NOT give buy or sell calls and stock tips. Buy and sell at your risk. I am not a qualified financial adviser so I do not give any advice. The postings reflects my own personal thoughts which may or may not be accurate.
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#8
Placement by UE to KKR. UE following different route of funding, compare with Sound Global. I don't like the placement which always dilute minority shareholders' interest

SINGAPORE - US private equity firm KKR has agreed to make a US$40 million (S$49 million) follow-on investment in China-focused water treatment and recycling company United Envirotech through a share purchase, the companies said in a statement on Tuesday.

http://www.todayonline.com/Business/EDC1...-another-S$49m-into-United-Envirotech
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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#9
Similar article posted on MemstarT thread...

United Envirotech, Memstar tumble on acquisition plan

Shares in United Envirotech tumbled as much as 13% to a four-week low after the company announced its plans to acquire assets from Memstar Technology, whose shares were headed for their biggest daily decline in nearly five months.

United Envirotech, a membrane-based water treatment solution provider, agreed to acquire certain assets from Memstar and a 100% stake in Memstar, a wholly owned subsidiary of Memstar, for a total of $293.4 million.

The acquisition will help United Envirotech become an integrated solution provider in Singapore’s competitive water treatment market, analysts said. But its share price dropped to as low as $0.89, before paring some losses to $0.96 by 10:24 a.m..

“The acquisition is mainly funded by shares, so even though in the long term it will be positive, in the near term you’ll have to bear with a huge EPS (earnings per share) dilution,” said Tan Ai Teng, an analyst at DBS Vickers.

http://www.theedgesingapore.com/the-dail...-plan.html
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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#10
DBS Group Research's report...

Memstar acquisition: heavy dilution near-term

- Acquiring Memstar’s membrane operation for
S$293.4m (~19.9x PE)
- Long term positive but 23% new shares would
dilute FY14/15F EPS by 18%/14%
- Acquisition pending approval, maintain Hold for
now

http://remisiers.org/cms_images/research...irTech.pdf
“夏则资皮,冬则资纱,旱则资船,水则资车” - 范蠡
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