FFWD.L Regulatory News (FFWD)

13 Mar 2007 07:01

London Asia Chinese Private Equity13 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 followingupdate on investee companies China Solar, Asia Water and United Envirotech. China Solar The company has recently been appointed to carry out two energy-conservationprojects, sponsored by the Chinese government as part of its efforts to conserveand use energy more efficiently, and improve the standard of living. The first project, the Demonstration & Research of Solar Energy Roofs in BigBuildings, is aimed at using more solar technology in the construction of largebuildings, such as sports centres, university and municipal buildings. The other project is called the Demonstration & Technical Integration ofCourtyard Houses in Northern China, and is aimed at developing more energyefficient housing for farmers in the north of China, where the temperature dropsbelow freezing in the winter and is hot in the summer. Asia Water Technology ("Asia Water") Asia Water, the Singapore listed water purification and wastewater treatmentspecialist, announced an 34.5% increase in profits attributable to shareholdersin Asia Water to RMB 53.3 million (£3.6 million) for the year ended 31 December2006, following a year of successful expansion into large-scale municipal andindustrial water treatment projects. Asia Water's ability to meet the stringent requirements in water treatment hasresulted in 37 new water treatment projects in FY2006, including Asia Water'ssecond nuclear power plant water treatment project contract - Qinshan NuclearPower Plant water treatment project worth RMB 34 million (£2.3 million). As at 1January 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 40million (£2.7 million) from The China Petrochemical Corporation (Sinopec)'sLuoyang Branch. The 18,000 cubic metres per day membrane bioreactor (MBR) plant will treatwastewater from the Sinopec Luoyang's oil refinery plant. This is the secondMBR project awarded to UEL at the Luoyang branch, following the 4,800 cubicmetres per day MBR system, treating wastewater from the facility's downstreamPTA line in 2004. Under the new contract, UEL will upgrade the client'sexisting wastewater treatment facility by converting it into an MBR System. Theproject is expected to be completed by March 2008. The advantages of the MBR technology include excellent water quality whentreated, a small foot print and the ability to handle high levels ofcontaminant, thereby helping the facility to comply with more stringentdischarge limits. The system also allows the recycling of treated water to bere-used as coolant. Simon Littlewood, director of the Fund, said: "At the recent National People'sCongress, Premier Wen Jiabao stressed the Chinese Government's commitment tomore energy efficient economic growth, and raising the standard of living forthe 600 million rural population. We believe that China Solar, Asia Water, andUntied Envirotech will all benefit from the increased emphasis in China onalternative energy, clean water and waste treatment." For further information please visit www.londonasiafunds.com or contact: John West/Andrew Dunn Simon Littlewood Hugh FieldTavistock Communications London Asia Capital Collins Stewart Europe LimitedTel: 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 energybuildings in China, based on its patented solar thermal technology. The Companydesigns and constructs large scale municipal, commercial, academic and leisurebuildings on a Build, Own, Transfer (BOT) basis, incorporating its own patentedsolar thermal technology. Its key customers include the Chinese Government, realestate developers and resort owners. The Company has also developed an efficient, solar thermal heated and cooledhouse, designed to meet the requirements of the Chinese Governments' program forproviding affordable, energy efficient housing to the rural population, whichmakes up around 600 million of China's population. China Solar Energy Ltd is a Jersey incorporated holding company with a Chineseoperating business headquartered in Beijing. About Asia Water Technology Ltd. Asia Water Technology Ltd. is a Singapore listed company engaged in totalengineering solutions for water purification and wastewater treatment systems.Its business is primarily conducted through its subsidiary in China, Wuhan KaidiWater Services Co., Ltd. ("Kaidi Water"), which owns its own patented coretechnologies and works closely with leading technology partners in theinternational 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 watertreatment and reclamation using advanced membrane technology, providesenvironmental engineering solutions to a wide range of customers in thechemical, petrochemical, pharmaceutical, and wastewater treatment industries. The Group's track record includes building what it believes to be the largestindustrial "New water" plant in the PRC that uses its Continuous MembraneFiltration ("CMF") and Reverse Osmosis ("RO") technology, as well as what itbelieves to be one of the largest industrial wastewater treatment plants inAsia, in terms of treatment capacity, using its Membrane Bioreactor ("MBR")technology. Through the years, United Envirotech has established strong working relationswith their customers, which enables them to secure future contracts or referralsto new customers. Some of United Envirotech's major customers includes ChinaPetrochemical Corporation ("Sinopec"), China National Petroleum Corporation ("CNPC"), China National Offshore Oil Corporation ("CNOOC") and SingaporeSembcorp. Membrane Bioreactor ("MBR") is a wastewater treatment technology which combinesmembrane separation and biological wastewater treatment. MBR revolutionalisedthe traditional biological treatment process, drastically shortens the time andreduces the space for the treatment process. MBR is also more resilient to thesudden increase in contaminant concentration and variances in wastewaterquality, hence delivering reliable and good treatment performance. Continuous Membrane Filtration ("CMF"), is a water treatment technology thatutilises microfiltration process to achieve removal of submicron contaminants inwater. 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 themore concentrated to the more diluted solution. This information is provided by RNS The company news service from the London Stock Exchange