C&G Environmental Protection Holdings

C&G Environmental Protection Holdings: the Group has obtained a formal approval from the Jinjiang municipal authority for a 40% increase in waste handling fee for its operating waste-to-energy (WTE) plant in Jinjiang, Fujian province with effect from 28 Jun 2013. The fee hike announcement follows a month after the its subsidiary C&G (Xiamen) Environmental Electricity Operation and Management Company secured its first operations and maintenance contract with an independent WTE company in China. The positive developments are in line with the management's review following its 1Q13 results, of which the group turnaround a profitable quarter. The developments in waste reduction and management solutions in the government will present more opportunities for the group's growth going forward in the year. The group intends to seek an expansion in WTE assets outside of China. At the last closing price of $0.113, C&G has an estimated P/E of 1.8x for 2013.