Investee Company update
March 13 2007 - 3:01AM
UK Regulatory
RNS Number:8085S
London Asia Chinese Private Equity
13 March 2007
13 March 2007
London Asia Chinese Private Equity Fund Limited
("LACPEF" or "the Fund")
LACPEF, the China focused investment fund, is delighted to provide the following
update on investee companies China Solar, Asia Water and United Envirotech.
China Solar
The company has recently been appointed to carry out two energy-conservation
projects, sponsored by the Chinese government as part of its efforts to conserve
and use energy more efficiently, and improve the standard of living.
The first project, the Demonstration & Research of Solar Energy Roofs in Big
Buildings, is aimed at using more solar technology in the construction of large
buildings, such as sports centres, university and municipal buildings.
The other project is called the Demonstration & Technical Integration of
Courtyard Houses in Northern China, and is aimed at developing more energy
efficient housing for farmers in the north of China, where the temperature drops
below freezing in the winter and is hot in the summer.
Asia Water Technology ("Asia Water")
Asia Water, the Singapore listed water purification and wastewater treatment
specialist, announced an 34.5% increase in profits attributable to shareholders
in Asia Water to RMB 53.3 million (#3.6 million) for the year ended 31 December
2006, following a year of successful expansion into large-scale municipal and
industrial water treatment projects.
Asia Water's ability to meet the stringent requirements in water treatment has
resulted in 37 new water treatment projects in FY2006, including Asia Water's
second nuclear power plant water treatment project contract - Qinshan Nuclear
Power Plant water treatment project worth RMB 34 million (#2.3 million). As at 1
January 2007, Asia Water's order book stood at over #20 million.
United Envirotech Ltd ("UEL")
UEL recently announced that it has secured an engineering contract worth RMB 40
million (#2.7 million) from The China Petrochemical Corporation (Sinopec)'s
Luoyang Branch.
The 18,000 cubic metres per day membrane bioreactor (MBR) plant will treat
wastewater from the Sinopec Luoyang's oil refinery plant. This is the second
MBR project awarded to UEL at the Luoyang branch, following the 4,800 cubic
metres per day MBR system, treating wastewater from the facility's downstream
PTA line in 2004. Under the new contract, UEL will upgrade the client's
existing wastewater treatment facility by converting it into an MBR System. The
project is expected to be completed by March 2008.
The advantages of the MBR technology include excellent water quality when
treated, a small foot print and the ability to handle high levels of
contaminant, thereby helping the facility to comply with more stringent
discharge limits. The system also allows the recycling of treated water to be
re-used as coolant.
Simon Littlewood, director of the Fund, said: "At the recent National People's
Congress, Premier Wen Jiabao stressed the Chinese Government's commitment to
more energy efficient economic growth, and raising the standard of living for
the 600 million rural population. We believe that China Solar, Asia Water, and
Untied Envirotech will all benefit from the increased emphasis in China on
alternative energy, clean water and waste treatment."
For further information please visit www.londonasiafunds.com or contact:
John West/Andrew Dunn Simon Littlewood Hugh Field
Tavistock Communications London Asia Capital Collins Stewart Europe Limited
Tel: 020 7920 3150 Tel: 020 7355 7928 Tel: 020 7523 8000
About China Solar Energy
China Solar's core business is the design and manufacture of solar energy
buildings in China, based on its patented solar thermal technology. The Company
designs and constructs large scale municipal, commercial, academic and leisure
buildings on a Build, Own, Transfer (BOT) basis, incorporating its own patented
solar thermal technology. Its key customers include the Chinese Government, real
estate developers and resort owners.
The Company has also developed an efficient, solar thermal heated and cooled
house, designed to meet the requirements of the Chinese Governments' program for
providing affordable, energy efficient housing to the rural population, which
makes up around 600 million of China's population.
China Solar Energy Ltd is a Jersey incorporated holding company with a Chinese
operating business headquartered in Beijing.
About Asia Water Technology Ltd.
Asia Water Technology Ltd. is a Singapore listed company engaged in total
engineering solutions for water purification and wastewater treatment systems.
Its business is primarily conducted through its subsidiary in China, Wuhan Kaidi
Water Services Co., Ltd. ("Kaidi Water"), which owns its own patented core
technologies and works closely with leading technology partners in the
international and local water treatment arena.
For more information on the company, please visit: http://www.asiawatertech.com
About United Envirotech Ltd
Singapore Mainboard-listed United Envirotech Ltd., specializing in water
treatment and reclamation using advanced membrane technology, provides
environmental engineering solutions to a wide range of customers in the
chemical, petrochemical, pharmaceutical, and wastewater treatment industries.
The Group's track record includes building what it believes to be the largest
industrial "New water" plant in the PRC that uses its Continuous Membrane
Filtration ("CMF") and Reverse Osmosis ("RO") technology, as well as what it
believes to be one of the largest industrial wastewater treatment plants in
Asia, in terms of treatment capacity, using its Membrane Bioreactor ("MBR")
technology.
Through the years, United Envirotech has established strong working relations
with their customers, which enables them to secure future contracts or referrals
to new customers. Some of United Envirotech's major customers includes China
Petrochemical Corporation ("Sinopec"), China National Petroleum Corporation ("
CNPC"), China National Offshore Oil Corporation ("CNOOC") and Singapore
Sembcorp.
Membrane Bioreactor ("MBR") is a wastewater treatment technology which combines
membrane separation and biological wastewater treatment. MBR revolutionalised
the traditional biological treatment process, drastically shortens the time and
reduces the space for the treatment process. MBR is also more resilient to the
sudden increase in contaminant concentration and variances in wastewater
quality, hence delivering reliable and good treatment performance.
Continuous Membrane Filtration ("CMF"), is a water treatment technology that
utilises microfiltration process to achieve removal of submicron contaminants in
water.
Reverse Osmosis ("RO") is a process that reverses (by application of pressure)
the flow of water in the natural process of osmosis so that it passes from the
more concentrated to the more diluted solution.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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