Citic Envirotech   

United Envirotech

lastest price done at 21.75..tw$..........buy bid 21.7.......sell bid 21.75.....20seconds ago hor.

 

last traded in Taiwan at 21.65 tw$.......approx...73cts a share Sing$.....heheeh....you decide the entry price lor.......

crystal1818      ( Date: 02-Nov-2010 09:52) Posted: Ok, thanks. Can advice the ideal entry price for now as I'm new in investing? lawcheemeng      ( Date: 02-Nov-2010 09:50) Posted: heheeh......go do some reading up on this one ....if can all the posting for the last 3 months......hehehe...all i can say is it is no going to stop here..........no call to buy sell or hold......heheheh......my standard call......you decide..........is your $$....leh.....put in carefully lor....if you want......heheheheh

 

 

 It looks promising given the high surge in revenue. More revenue will come in on the completion of the major projects in 2011. 

 

 Quoted from OCBCresearch:

United Envirotech: Raising Fair Value to S$0.69

By Carey Wong  Tue, 2 Nov 2010, 08:54:42 SGT United Envirotech Ltd (UEL) reported its 2Q11 results yesterday morning, with revenue jumping 103.8% YoY (also up 2.9% QoQ) to S$23.0m, while net profit also jumped 94.6% YoY and 43.3% QoQ to S$6.1m. Going forward, management remains upbeat about its prospects in China’s wastewater industry, especially in the industrial sector. We estimate that the group is currently sitting on an order book of S$120m (recently boosted by the contract to build a 50k m3/day wastewater MBR plant in Neijiang Xi Industrial Park), which it will deliver through to Sep 2011. But the group is not resting on its laurels as it is currently hunting for more EPC contracts as well as looking for existing TOT (Transfer-Operate-Transfer) plants to add to its investment portfolio. UEL has also raised about S$28m from its TDR listing and intends to use it to acquire TOT projects. We have bumped up our FY11 estimates for revenue by 6.5% and earnings by 10.8% (FY12 estimates also up 6.3% and 16.5% respectively); this in turn raises our DCF-based fair value from S$0.63 to S$0.69. Maintain BUY. 2Q11 results as expected. United Envirotech Ltd (UEL) reported its 2Q11 results yesterday morning, with revenue jumping 103.8% YoY (also up 2.9% QoQ) to S$23.0m, thanks to the completion of the Guangzhou JingXi plant, Asia’s largest underground MBR (membrane bio-reactor) wastewater treatment facility. While overall gross margin slipped from 61.5% in 2Q10 to 42.3% in 2Q11, as large EPC projects tend to come with lower margins, it was better than the 35.3% recorded in 1Q11. As a result, net profit similarly jumped 94.6% YoY and 43.3% QoQ to S$6.1m. For 1H11, revenue climbed 125.3% to S$45.4m, meeting 45.1% of our full-year estimate, while net profit jumped 144.2% to S$10.3m, or around 57.4% of our FY11 forecast.  S$120m order book to fulfill. Going forward, management remains upbeat about its prospects in China’s wastewater industry, especially in the industrial sector, citing the stricter discharge limits imposed by the Chinese government and the shortage of water supply in various parts of China. We estimate that the group is currently sitting on an order book of S$120m (recently boosted by the contract to build a 50k m3/day wastewater MBR plant in Neijiang Xi Industrial Park), which it will deliver through to Sep 2011. But the group is not resting on its laurels as it is currently hunting for more EPC contracts as well as looking for existing TOT (Transfer-Operate-Transfer) plants to add to its investment portfolio.  Likely to obtain low-hanging fruit soon. We believe that it would not be long before we see progress. This as the same Neijiang contract will allow UEL to enter into further talks to form a JV with Neijiang Investment Holding Company and Neijing Economic Development Committee to acquire an existing 50,000m3/day municipal wastewater treatment plant under a (TOT) Transfer-Operate-Transfer) arrangement. The JV company will also be involved in the construction and supply of 100,000m3/day of potable water to Neijiang City. Besides China, we understand that UEL has also started working with a Taiwanese company to explore the wastewater industry there, following its well-received listing of its TDRs recently. UEL has also raised about S$28m from the listing and intends to use it to acquire TOT projects. Revising fair value to S$0.69. We have bumped up our FY11 estimates for revenue by 6.5% and earnings by 10.8% (FY12 estimates also up 6.3% and 16.5% respectively); this in turn raises our DCF-based fair value from S$0.63 to S$0.69. Maintain BUY.

 

 

Ok, thanks.

Can advice the ideal entry price for now as I'm new in investing?

lawcheemeng      ( Date: 02-Nov-2010 09:50) Posted: heheeh......go do some reading up on this one ....if can all the posting for the last 3 months......hehehe...all i can say is it is no going to stop here..........no call to buy sell or hold......heheheh......my standard call......you decide..........is your $$....leh.....put in carefully lor....if you want......heheheheh

 

heheeh......go do some reading up on this one ....if can all the posting for the last 3 months......hehehe...all i can say is it is no going to stop here..........no call to buy sell or hold......heheheh......my standard call......you decide..........is your $$....leh.....put in carefully lor....if you want......heheheheh

 

To all sifus out there, will it be too late to ride on the bullishness now?

Thanks.

 

CHIONG AH!!! 47 c up 1.5

laugh to the bank bang bang

ozone2002      ( Date: 01-Nov-2010 10:01) Posted: utd is oversold!!! time to accumulate.. gd luck! dyodd

 

UNITED ENVIROTECH: 1H11 net earnings more than doubles to S$10.3 million




WATER TREATMENT stock United Envirotech (UEL) rebounded yesterday to close at 45.5 cts after it posted 1H2011 net profit growth of 144% to S$10.3 million this morning.

Group revenues for the first half of its financial year ending Mar 2011 were S$45.4 million, up 125.3% on higher engineering income, thanks to its completion in Sep of Asia’s largest underground membrane bioreactor (MBR) wastewater treatment plant.

The plant, completed in Sep, was worth contract value of a whopping Rmb 264 million and is able to treat 100,000 cubic meters of water per day for the Jingxi vicinity in Guangzhou.

Net margins improved to 22.7%, up 1.8 of a percentage point.

In Sep, UEL also completed and commenced operations for Phase I of the Hegang wastewater treatment cum recycling plant in Heilongjiang Province.

Recent stock price 45.5 cts Market cap S$217 m 52-week high/low 52.5 / 26.4 cts Bloomberg est PE 9.5 X Net margins 22.7% Price to book 1.7 X Cash reserves S$30.9m

This is UEL’s first project with dual service components and revenue streams: it will receive revenue from the government for treating 50,000 cubic meters of wastewater daily and sell 30,000 cubic meters of recycled water to chemical plants in a nearby industrial park.

Cash reserves decreased 17.2% to $30.9 million, mainly due to cash outflow for its BOT projects in Hedong city, Heilongjiang province.


China’s increased water budget and demand for membrane technology

Being one of the world's leading providers of membrane-based water and wastewater treatment and recycling solutions, UEL will have an important role to play as China addresses its chronic under supply and contamination of water resources in its 12th five-year plan (2011-15).

China’s annual per capita water resources is only 2,201 cubic meters, less than a third of the world average of 7,044 cubic meters, according to a Daiwa report dated 29 Oct.

Distribution is also an issue, with resources concentrated in the southern and eastern portions of the country, making water relatively scarce in the north and the west.

The problem is a widespread one: In China's 660-odd cities, over 400 are now confronting water shortages, 110 of them severe.

This is made worse by China’s rapid urbanization and industrialization, which have caused wastewater volumes to increase from 43.3 billion metric tons in 2001 to 57.2 billion metric tons in 2008.

With the discharge of untreated wastewater into rivers and streams, the nation's scarce water resources became contaminated.

In particular, pollution levels of nearly half of the water from the drainage systems of the Seven Great Rivers — Changjiang (Yangtze), Huanghe (Yellow), Songhuajiang, Liaohe, Zhujiang (Pearl), Haihe, and Huaihe — have apparently rendered it undrinkable.

This is despite gradual headway made in water quality through increased numbers of wastewater treatment facilities. In short, poor water quality is aggravating the chronic water shortages.

Government reform over 2001-2008 has already spurred water sector investments to swell 5 times to Rmb 104.5 billion.

When compared to industrialized nations, however, China's wastewater treatment coverage is still low at 70% in major urban areas and 30% in small cities by end 2010, according to its 11th 5-year plan (2006-2010).

Industry watchers believe that the push to upgrade its water infrastructure should continue until it reaches average wastewater treatment coverage comparable to major urban areas of advanced nations, i.e. around 80% to 90%.

Chinese media is reporting forecasts that its water budget in its 12th 5-year plan (2011-2015) will increase to as much as 1 trillion yuan, three times what was allocated for 2006-2010.

And Daiwa expects the market for water in China to quadruple from US$31 billion in 2009 to US$124 billion in 2025, making it the world’s largest.

Industry insiders quoted in the Daiwa report believe there will be higher water supply standards in 2012.  What this means is greater demand for membrane technologies such as that provided by UEL.

And we are talking about huge demand: the market share for application of membrane technology in water treatment has been estimated by China's Ministry of Environment Protection to grow to as much as 27% by 2015, up from 5% in 2009.



Related story: CHINA ENVIRONMENT, UNITED ENVIROTECH: What Analysts Say

 

You mean it?? At least I still holding 20lots. Hope to fly to the moon too...

spiderman_er      ( Date: 01-Nov-2010 15:07) Posted: I have stocked up peanut and beer , ready for the show.  Hope to see a repeat of Utd's 7 ct surge on 14 Sep. And I agreed with you that with their HY EPS of 2.28 ct,  and based on industry ave PE of 16x,  this baby is worth 73 ct. It will worth more if the growth continue. All the best !!! **********************  Hyflux PE : 24, Sound Global : 19.4, Sinomen: 10.8, Asia Env: 12.5, Utd  Env: 14.1 industry Ave PE : 16x my humble observation and valuation.

 

I have stocked up peanut and beer , ready for the show.  Hope to see a repeat of Utd's 7 ct surge on 14 Sep.

And I agreed with you that with their HY EPS of 2.28 ct,  and based on industry ave PE of 16x,  this baby is worth 73 ct. It will worth more if the growth continue. All the best !!!

********************** 

Hyflux PE : 24, Sound Global : 19.4, Sinomen: 10.8, Asia Env: 12.5, Utd  Env: 14.1

industry Ave PE : 16x

my humble observation and valuation. 

 

 

may be later go get some popcorns liao.....i think got show leh later.......

 

base on last week closing of 21.7 new taiwan dollar...it shld be trading at 73cts....convert singdollar..per share.......SGX got lot to catch up hehehe.......

 

Infact by now....if in my view this utd baby shld be in the 60cts range liao...if not been suppressed......looking at the recurring income is going to increase very very soon......as mention in the report...just completed one project  and another 2 more in not too far in th e future...and more servcing , upgrading contract due to the more strict control....my view only hor. buy and hold for mid to long term to max profit.....they can suppress one day...one month.....one yr?? no lah they also want to push up then throw it too you mah...if not where got bonus for themself leh......key word....BONUS....heehee.........

 

Despite the very sucessful listing of their TDR in taiwan with gains of up 35% over 5 trading days....we see the desparity...in the SGX.....even with the superb....qtr report..it does not seem to carry much weight on its(utd baby)) price in SGX...........congratulation to the inefficiency to SGX.........better merge faster with ASX...hopefully it will create some sparks after the successful....merger......

 

hehee......u got it 47cts...is it? 27cts...is last yrs price leh....hehehehe

rachael      ( Date: 01-Nov-2010 09:55) Posted: Mr Law, I am in this counter too, got it two weeks ago at $0.27....hope this will bring us good profit lawcheemeng      ( Date: 01-Nov-2010 08:05) Posted: So now the reason is out.........Collection......accumuilation.......tatics...push it down collect cheap then wait fror chance to push it sky high again lor.......taiwan TDR doing so good.......hit limit straight on opening for 5 days leh....by now it have increase by 35% liao if not limit by listing rule in Taiwan....hehhehe.......Fly us too the moon.......and let us play among the star.....hehehe

 

utd is oversold!!!

time to accumulate..

gd luck!

dyodd

 

Mr Law, I am in this counter too, got it two weeks ago at $0.27....hope this will bring us good profit

lawcheemeng      ( Date: 01-Nov-2010 08:05) Posted: So now the reason is out.........Collection......accumuilation.......tatics...push it down collect cheap then wait fror chance to push it sky high again lor.......taiwan TDR doing so good.......hit limit straight on opening for 5 days leh....by now it have increase by 35% liao if not limit by listing rule in Taiwan....hehhehe.......Fly us too the moon.......and let us play among the star.....hehehe spiderman_er      ( Date: 29-Oct-2010 14:58) Posted: Any reason why this stock is selling at 45 ct in SGX but 73 ct in TWSE??  Hope to see good Q2 report, give it a boost. (last year's Q2 report came out on 5 Nov 09).

 

looks good today.

 

2Q result out. Impressive again.  Cheong again and surpass the last peak of 53 ct.  Huat Ah.

 Immediate Release

United Envirotech’s 2Q FY2011 net profit surges 94.6% to S$6.1 million on delivery of key project

􏰀 Net Profit for 1H FY2011 climbed 144.2% to S$10.3 million, representing 70% of FY2010 full year net profit

􏰀 On track to increase total wastewater treatment capacity to 700,000m3, with the commissioning of 2 new BOT projects

􏰀 Recorded one of the best TDR listing record with price hitting 7% daily limit for 5 consecutive days 

 

So now the reason is out.........Collection......accumuilation.......tatics...push it down collect cheap then wait fror chance to push it sky high again lor.......taiwan TDR doing so good.......hit limit straight on opening for 5 days leh....by now it have increase by 35% liao if not limit by listing rule in Taiwan....hehhehe.......Fly us too the moon.......and let us play among the star.....hehehe

spiderman_er      ( Date: 29-Oct-2010 14:58) Posted: Any reason why this stock is selling at 45 ct in SGX but 73 ct in TWSE??  Hope to see good Q2 report, give it a boost. (last year's Q2 report came out on 5 Nov 09).