United Envirotech

Re: United Envirotech

Postby winston » Wed Nov 07, 2012 1:13 pm

OCBC raises United Envirotech target price

OCBC Investment Research raised its target price on water treatment firm United Envirotech Ltd to S$0.67 from S$0.50 and kept its 'buy' rating, citing better-than-expected quarterly earnings.

By 0235 GMT, United Envirotech shares were up 1.4 percent at S$0.37, and have gained 13.8 percent since the start of the year, compared to a 1.5 percent rise in the FTSE ST China Index <.FTFSTC>.

United Envirotech posted a second-quarter net profit that more than doubled to S$8.4 million from a year earlier, helped by strong engineering and treatment sales.

"United Envirotech continues to remain bullish on the waste-water treatment market in China, where demand for membrane-based services will continue to grow," said OCBC, adding that the upgrading of old water treatment plants also offered growth potential.

The brokerage noted that United Envirotech was on the lookout for more water projects in Shandong, Jiangsu and Liaoning to add to its portfolio and had a relatively strong financial position to do so.

With a cash balance of S$470.1 million as of the end of September, OCBC expects United Engineer to be able to finance up to S$175 million of projects.

Source: Reuters
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Re: United Envirotech

Postby winston » Wed Jan 09, 2013 8:59 am

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UNITED ENVIROTECH LTD - KKR & Co LP has agreed to make a $40 million follow-on investment in China-focused water treatment and recycling company United Envirotech through a share purchase, the companies said in a statement on Tuesday.

United Envirotech also plans to invest S$35 million in Memstar Technology Ltd , another water treatment firm, through a share purchase from Memstar's chairman and chief executive officer.


Source: Reuters
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Re: United Envirotech

Postby winston » Wed Jan 09, 2013 12:41 pm

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STOCKS NEWS SINGAPORE-United Envirotech at 8-yr high after KKR investment

Shares in United Envirotech Ltd jumped as much as 14.6 percent to their highest in eight years, after U.S. buyout firm KKR & Co LP agreed to make a $40 million follow-on investment in the China-focused water treatment and recycling company.

By 0154 GMT, United Envirotech shares were up 9.7 percent at S$0.565, with 10.7 million shares traded, 2.5 times their average daily volume over the last five sessions.

KKR said on Tuesday it will buy shares in United Envirotech at S$0.50 per share, which represents an 8.5 percent premium to the volume weighted average price for the last 30 trading days.


Source: Reuters
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Re: United Envirotech

Postby winston » Tue Feb 05, 2013 8:49 am

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Water treatment and recycling company United Envirotech reported a surge in third-quarter net profit to S$8.5 million, 4.5 times the quarterly net profit a year earlier, boosted by higher engineering and treatment revenues.

Source: Reuters
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Re: United Envirotech

Postby winston » Tue Feb 05, 2013 12:17 pm

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3Q13 results for United Envirotech exceeds our estimates by >15%, thanks to higher Engineering, Procurement and Construction (EPC) sales and better Treatment margins.

Growth visibility is backed by rising Treatment income and >Rmb1bn EPC orders in bidding stage.

Post 3Q results, our analyst has raised FY13/14F earnings by 7%/5% to account for higher EPC recognition and order wins.

Maintain Buy, TP raised to S$0.74 (Prev S$ 0.67).


Source: DBS
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Re: United Envirotech

Postby winston » Wed Feb 06, 2013 3:28 pm

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EYEING MORE WATER INVESTMENTS

- More projects in pipeline
- Funding is not an issue
- Upping fair value to S$0.88

United Envirotech Ltd (UEL) has put in a strong set of 9MFY13 results, and management believes that the current government policy is still very positive towards environmental issues and the demand for water treatment in China is still growing.

As such, it will be looking to invest in more water treatment projects; and we believe that funding is not an issue after the recent share placement to KKR.

In view of its consistent execution, we raise our valuation peg from 12.5x blended FY13F/FY14F PER to 13.0x FY14F PER, and that brings our fair value up from S$0.67 to S$0.88. Maintain BUY.


Source: OCBC
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