C&G Env

C&G Env: Has secured a Build-Operate-Transfer with Bangkok Metropolitan Admin for a Waste-To-Energy project, the first in Bangkok for $35.9m. The project is designed to have a daily processing capacity of 500 tons and is expected to process 182.5k tons p.a with electrical generation capacity of 9.8MW. The project is expected to be completed in 2014 and has a 20 yr concession period. C&G can apply for a tax-exempt period for up to 8 yrs and another 5 yrs of 50% tax reduction after. Co currently trades at P/E of 109x partly due to it turning a loss for 1Q this year.