Sound Global

Sound Global: together with China Railway 18th Bureau, jointly won the bid for No. 6 Water Treatment Plant Project in Changchun City, Jilin Province, China. The long term designated water supply capacity of the project is 500k cubic m / day, with the near term capacity at half of that. The project requires a total invmt of ~Rmb 2.04b, which will be invested, built and transferred as a BT project. The project is expected to commence construction in 2013 and to complete in 2015. Incidentally, the stock has already moved up by 12% month-to-date, which may suggest that positives from this news may be some what priced in. The stock trades at 8.2x P/E, 1.45x P/B.