Stock Name: UtdEnvirotech
Company Name: UNITED ENVIROTECH LTD
OCBC Investment Research in an Apr 24 research report says: "United Envirotech Ltd (UEL) has just secured two more projects in China. The first is a large RMB216 million ($43 million) EPC project to build a 100k m3/day drinking water plant in Yantai City, Shadong Province. "Earlier, UEL won the tender for a Transfer-Operate-Transfer (TOT) project in Shangzhi, Harbin city, Heilongjiang Province, which UEL is investing RMB70 million ($14 million) for a 30-year concession to operate the 40k m3/day treatment plant. Going forward, UEL says it will continue to actively explore investment opportunities in China’s north-eastern region, especially around the Song Hua River. "With its latest TOT win, we bump up our FY2013 revenue and earnings estimate by 2% and 3% respectively. As such, our DCF-based fair value inches up slightly from 50 cents to 52 cents. MAINTAIN BUY."
Company Name: UNITED ENVIROTECH LTD
| Research House: OCBC | Price Call: BUY | Target Price: 0.52 |
OCBC Investment Research in an Apr 24 research report says: "United Envirotech Ltd (UEL) has just secured two more projects in China. The first is a large RMB216 million ($43 million) EPC project to build a 100k m3/day drinking water plant in Yantai City, Shadong Province. "Earlier, UEL won the tender for a Transfer-Operate-Transfer (TOT) project in Shangzhi, Harbin city, Heilongjiang Province, which UEL is investing RMB70 million ($14 million) for a 30-year concession to operate the 40k m3/day treatment plant. Going forward, UEL says it will continue to actively explore investment opportunities in China’s north-eastern region, especially around the Song Hua River. "With its latest TOT win, we bump up our FY2013 revenue and earnings estimate by 2% and 3% respectively. As such, our DCF-based fair value inches up slightly from 50 cents to 52 cents. MAINTAIN BUY."
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