United Envirotech

United Envirotech: UEL has recently announced that it has won a contract of Rmb580m to design and build China’s largest membrane bio-reactor (MBR) waste-water treatment. This would bump OCBC’s FY15e revenue by 8% and profit by 4%. Plus the recent pullback on post-results profit taking, upside is a good 15%. OCBC upgrades from Hold to Buy with increased TP of $1.36 from $1.30