United Envirotech Wins Wastewater Treatment Plant Project in Harbin, China
United Envirotech Limited announced Tuesday that it has won the tender for a Transfer-Operate-Transfer (TOT) project in Shangzhi, Harbin City, Heilongjiang Province, China.
The design capacity of the wastewater treatment plant is 40,000 cubic metres per day and it is expected to be operated in full capacity in July 2012.
The total investment for acquiring the 30-year concession right for the plant is RMB70.0 million (S$14.0 million).
“We have been investing in China’s North Eastern region since 2004. With this new plant, we will have nine water and wastewater treatment facilities with a total treatment capacity of approximately 500,000 m3/day in the region. We will continue to explore actively investment opportunities in this region,” said Dr Lin Yucheng, Chairman and Chief Executive Officer of United Envirotech.
The project will be funded by the proceeds from the convertible bond issue and bank financing.
United Envirotech Limited closed Tuesday at S$0.380.
Keppel T&T’s 1Q2012 Net Profit Up 3.5 Per cent
Keppel Telecommunications and Transportation Limited (Keppel T&T) Tuesday posted a 3.5-per cent rise in first-quarter profit to S$14.42 million compared to a year ago.
Revenue for the period grew 11.1 per cent to S$33.60 million compared to the same period last year due to higher revenue generated by its Data Centre and Logistics divisions.
The company said its data centres are currently enjoying strong demand. The data centre fund recently acquired an asset in Europe.
Going forward, the company said it will strive to maintain high occupancy rates in its logistics facilities in China and Southeast Asia. It recently signed a deal with the government of Jilin, China, to develop a food logistics hub there.
Keppel Telecommunications and Transportation Limited closed Tuesday at S$1.195.
BreadTalk Establishes New Subsidiary Thye Moh Chan
Food and beverage group BreadTalk Group Limited announced Tuesday that it has established a new subsidiary Thye Moh Chan Pte Ltd in Singapore.
The new subsidiary – with an issued share capital of S$2 – will be involved in the manufacturing and wholesaling of confectionery and bakery products.
Thye Moh Chan was a 68-year-old bakery at Geylang Lorong 27 best known for its Teochew-style mooncakes, which are characterised by their flaky skins.
The cake house closed its doors in September last year after almost seven decades of selling traditional Teochew confections.
BreadTalk Group Limited closed Tuesday at S$0.555.
A-REIT’s FY2012 DPU Rises 2.5 Per cent
Ascendas Real Estate Investment Trust (A-REIT) announced Tuesday a year-on-year growth of 13.6 per cent in its amount available for distribution for the year ending 31 March 2012 to S$281.7 million from S$248.0 million a year ago.
Consequently, the group’s dividend per unit (DPU) rose 2.5 per cent year-on-year to S$0.1356 from S$0.1323 last year.
Gross revenue for the year increased 12.4 per cent year-on-year to S$503.3 million, largely due to the completion of development projects and acquisitions in the financial year. However, this increase was offset by higher operating expenses caused mainly by higher electricity charges and land rent, resulting in a net property income increase of 8.5 per cent.
Net property income jumped 8.5 per cent to S$368.3 million in FY2012 from S$339.4 million in the previous year.
“We are pleased to achieve a 2.5-per cent increase in the distribution per unit from the previous financial year. This year has been an active year for A-REIT with nearly S$1.0 billion worth of new investments made, concluding the year with 102 properties and a total asset of about S$6.6 billion,” said Chief Executive Officer Tan Ser Ping.
Ascendas Real Estate Investment Trust closed Tuesday at S$2.010.
CRCT’s Net Property Income Rises 18.3 Per cent in 1Q2012
CapitaRetail China Trust (CRCT) announced Tuesday a net property income (NPI) of
RMB126.2 million (S$25.0 million) for 1Q2012, up 18.3 per cent from RMB106.6 million in the same period last year.
Distribution per unit (DPU) for 1Q2012 was S$0.0241, an increase of 12.1 per cent over the S$0.0251 for the same quarter last year. Based on an annualised DPU of S$0.0969 and CRCT’s closing price of S$1.265 per unit on 16 April 2012, the annualised distribution yield is 7.7 per cent.
“CRCT clocked an impressive fifth consecutive quarter of double-digit year-on-year growth in NPI, which increased 18.3 per cent to RMB126.2 million in 1Q2012. We are pleased that all our multi-tenanted malls continued their growth momentum and achieved double-digit growth,” said Tony Tan, CEO of CRCT.
CapitaRetail China Trust closed Tuesday at S$1.290.
China Gaoxian Gets SGX Extension to Finalise Resumption of Trading Proposal
China Gaoxian Fibre Fabric Holdings Limited announced Tuesday that it has received approval from Singapore Exchange (SGX) for an extension of time until July 25 this year to submit its proposal to resume trading of its shares.
Together with the proposal, the group must also provide an update on the progress and status of the special audit and an undertaking by its board of directors that they will endeavour to expedite the process to finalise the special audit.
In July last year, auditors highlighted a huge shortfall in its cash and bank balance.
In its filing to the SGX last year, the Zhejiang-based maker of polyester yarn said its auditors Pricewaterhouse Coopers discovered the company’s bank balance should be less than a tenth of the RMB1.1 billion (S$209.21 million) reported in February 2011.
China Gaoxian is dual listed in Korea Exchange as well.
Trading of China Gaoxian shares on the SGX and its Korean Depository Receipts on the Korea Exchange has been suspended since March 2011.