China Environment (CENV): secured 8 contracts worth Rmb105.6m (S$20.1m) from clients in the mining, steel, chemical, and power generation sectors. The contract relate to the design, construction and installation of electrostatic precipitators (ESPs), baghouse, and hybrid dust collectors...
The projects are mainly located in Chongqing, Henan, Shanxi, Jiangsu, Anhui, Sichuan and Ningxia. As at end Mar '11, the grp's orderbook stood at Rmb 73.3m based on firm contracts. This compares with FY10 revenue at Rmb 547m. All the projects, including the 8 contracts, are scheduled for completion this yr.
Stock trades at 8.4x P/E.
DMG, Sias have Buy ratings with $0.28, $0.37 TP rptvly.
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