Asia Environment

[winston]

Not vested

DJ MARKET TALK: DBS Vickers Upgrades Asia Environment To Buy

0729 GMT [Dow Jones] STOCK CALL: DBS Vickers upgrades Asia Environment (A58.SG) to Buy from Hold, raises target price to S$0.47 from S$0.20 after increasing FY09-10 earnings forecasts by 67%-71%, rolling over valuation to FY10 based on 11X P/E.

Cites better-than-expected 3Q09 performance - China-based water treatment firm's revenue +175% on-year at CNY266.7 million, net profit +53% at CNY17.9 million due to increased contributions from engineering, procurement & construction project in Nantong.

Expects profits from build-operate-transfer projects to continue growing as nine other water plants will start operations by 4Q10.

Source: Dow Jones Newswire

[winston]

Not vested. Can your Stop Loss really save you ? Down 21% already ...

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PROFIT GUIDANCE FOR THE 4TH QUARTER ENDED 31 DECEMBER 2009
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In anticipation of the announcement of the unaudited results for the fourth quarter of financial year ended 31 December 2009 (“FY2009”), the Board of Directors of Asia Environment Holdings Ltd. (the “Company”) deems it appropriate to issue a profit guidance announcement in respect of the financial results of the Company and its subsidiaries (the “Group”).

The unaudited financial results of the Group for the fourth quarter FY2009 is expected to register a loss and the net profit for FY2009 is expected to be lower than the comparative financial results in FY2008. Nevertheless, the Group expects to remain overall profitable for FY2009.

Whilst the Group has experienced a satisfactory growth in sales activities during 4Q2009, the profitability of the Group for 4Q2009 is mainly affected by:

1. Additional provisions made for doubtful trade debts.
2. Impairment on the Company’s 25% investment in Pizhou Water Holdings Private Limited due to uncertain outcome on the arbitration proceedings against the municipal government of Pizhou City for the recovery of the construction costs, in addition to interests, damages and costs resulting from the matter as per
announcement made on 16 November 2009.
3. Increased share of losses from associate as a result of additional investment in Nantong Penyao Water Supply Co., Ltd.

Further details of the Group’s results will be made available when the Company announces its unaudited financial results for the fourth quarter and financial year ended 31 December 2009, on or before 1 March 2010.

BY ORDER OF THE BOARD
WANG HONGCHUN
CHIEF EXECUTIVE OFFICER
3 February 2010

[millionairemind]

May 7, 2010, 6.25 pm (Singapore time)

Asia Env's Q1 net profit falls 49% on higher finance costs

By ANGELA TAN

Asia Environment Holdings Ltd said on Friday that its net profit for the first quarter of this year dropped 49 per cent to RMB9.26 million due to higher finance costs.

Total income grew 9 per cent to RMB121.03 million.

[winston]

Not vested

ASIA ENVIRONMENT HOLDINGS - The auditors of Asia Environment Holdings have issued an emphasis of matter, highlighting that the firm had a deficit in net current assets of 574 million yuan ($87.7 million) for the year ended Dec 31, which may cast significant doubt on its ability to continue as a going concern.


Source: Reuters