Temasek Holdings Pte will lead a number of Singaporean companies in investing in an industrial park in China’s Sichuan province with a Chengdu high-tech investment group, the 21st Century Business Herald reported today, citing Tang Hua, a local official.
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OCBC Investment Research lifts United Envirotech (U19.SG) target price to $0.63 from $0.52 to factor in higher free cashflow growth rate as some of China-based wastewater treatment firm’s newly-completed projects start contributing from October. Keeps Buy call, says Dow Jones.
OCBC expects more projects to come following recent win of RMB200 million ($39.5 million) contract to build treatment plant in Neijiang Xi Industrial Park in Sichuan province: "We view the latest development as a further endorsement of the company’s market leading position in industrial MBR (membrane bio reactor) technology as well as the optimistic prospects for the wastewater industry in China."
Shares off 2.1% at $0.465.
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ComfortDelGro says its wholly-owned subsidiary, ComfortDelGro (China), is in the process of divesting its 51% interest in the registered capital of its subsidiary, Sichuan ComfortDelGro Car Servicing Co., for RMB10.455 million ($2.07 million) through a tender exercise based on the net assets of the subsidiary.
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United Envirotech (U19.SG) fails to build on initial gains, flat at $0.49 vs +2.0% at $0.50 earlier. Pullback not surprising as stock up as much as 23% this week to 11-month high of $0.51, says Dow Jones.
Current volume mere fraction of daily average of 61.3 million shares this week, suggesting demand intact, supported by China-based water treatment firm securing contract to build plant in Sichuan province’s Neijiang City.
Singapore-Sichuan Investment Holdings, a Singapore consortium initiated by Temasek Holdings, has signed an MOU with Chengdu Hi-Tech Zone to conduct a feasibility study of the joint development of a Singapore-Sichuan Hi-Tech Innovation Park (HTIP).
The Singapore-Sichuan HTIP project will be situated in the Chengdu Hi-Tech Zone, which is currently ranked fourth out of the 54 national Hi-Tech Zones gazetted in China in terms of competitiveness.
The 35 sqkm development will first begin with an initial start-up area of 10 sqkm. It will focus on integrating modern manufacturing, modern services and modern living into one.
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Asia Power Corp., a Singapore-based renewable energy developer, has signed an agreement to acquire an 80% equity interest in three hydropower plants from Sichuan Hongya Heshen Power Co. for 76.65 million yuan ($15.7 million).
Under the agreement, Asia Power (Hainan) Investment Co., a wholly-owned subsidiary of Asia Power, along with Chinese small-hydro plant operator Sichuan Hongya, will establish a Sino- foreign joint venture, Asia Power said in a statement.
Earthquakes in China’s Qinghai province kill hundreds of people
POWERFUL earthquakes on the Tibetan plateau have killed hundreds of people and injured many thousands of others. The disaster presents the Chinese authorities with the challenge of another large-scale relief effort following an earthquake in neighbouring Sichuan province in May 2008 that killed more than 80,000 people. The remoteness of the affected area will make it all the harder.
The earthquakes, the strongest of which been reported as magnitude 6.9 or 7.1, began to strike early in the morning of Wednesday April 14th. They were centred on Yushu county in Qinghai province near the border of the Tibet Autonomous Region. Most of the buildings in the county seat, Jiegu, were damaged or destroyed. Yushu has a population of around 100,000, many of them Tibetan herders. A teacher in the adjacent county of Golog some 350 km (220m) to the north-east says he has been trying to console his weeping students since they learned that relatives in Yushu had been buried in rubble. He says Tibetan monks in Golog have been praying for the dead. …
Sapphire Corporation, the manufacturer of steel and vanadium products, posted a net profit of $43.5 million in the year ended 31 December 2009 (FY2009), up from $1.1 million in FY2008, buoyed by contribution from 51%-owned Neijiang Chuanwei Special Steel Co. and the dilution gain of its 9.2%-owned mine operator which was recently listed on the Mainboard of The Stock Exchange of Hong Kong.
The increase came on the back of $133.8 million in revenue as it recognised seven months of results contributed from Neijiang Chuanwei Special Steel, a leading manufacturer of hot-roll coils (HRC) and vanadium pentoxide flakes in Sichuan Province, China.
An earthquake that struck villages in China’s Sichuan Province killed one person, injured 15 and damaged thousands of homes, the Xinhua news agency reported. More than 100 houses collapsed in the quake, which had an epicentre about midway between Chongqing and Chengdu. The United States
A strong earthquake has jolted south-western China, leaving at least one person dead, 11 others injured and more than a hundred houses damaged or destroyed. The US Geological Survey says the temblor struck on Sunday at 5:37am local time in the region bordering Sichuan province and the city
Federal International (2000) says its first BOO (Build-Operation-Own) waste water treatment project — the Sichuan Panzhihua Vanadium-Titanium Industrial Park Wastewater Treatment Plant — has started commercial operations since Jan 1.
At least six people have been killed in a landslide in the Chinese province of Sichuan.
The landslide also destroyed a bridge that is a major link to areas where reconstruction work is being carried out after last year’s earthquake.
Falling rocks dislodged by heavy rain smashed into the bridge in Wenchuan county, sending vehicles plunging into the river.
Rescue officials warned that the number of dead might rise.
The China Daily newspaper said more than 10,000 vehicles crossed the bridge each day and it was a lifeline for the reconstruction effort.
Wenchuan was the epicentre of the earthquake last May in which more than 85,000 people lost their lives. </p
This article is from the BBC News website. © British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
At least 53 people have been reported missing after a landslide struck a road-building crew in a remote area of south-west China’s Sichuan province.
Another 97 people were rescued after being trapped by the landslide, which struck at 0300 (1900 GMT Wednesday), China’s state Xinhua news agency said.
The landslide, triggered by heavy rains, has formed a lake several kilometres long, Xinhua said.
Heavy rains and floods have hit several areas of China in recent weeks. </p
This article is from the BBC News website. © British Broadcasting Corporation, The BBC is not responsible for the content of external internet sites.
GUANTUNXIANG, China — Thousands camped in tents in southwestern China on Saturday after a magnitude-6.0 earthquake destroyed thousands of homes, killed one person and injured 320, state media reported.
At the epicenter of Thursday’s qua…
