Memstar Tech & United Envirotech

Memstar Tech & United Envirotech: 60% Memstar, 40% United Envirotech owned JV Max Rise Envirogroup has obtained US$60m in syndicated facilities by Stanchart Bank with a tenor of 5.5 yrs. The facilities will be used for the payment for wastewater treatment plants at Bazhou and Tangshan. Both companies had collaborated in a equally owned JV for a wastewater project in China previously in March. The two counters have seen high volume and a sharp spike in share prices since early Nov. A plausible catalyst could be a project that the increase in funding would be used for.