SoundGlobal   

Epure International

the volume is so THIN today !

 

Epure one of today's most actively traded counters. Volume boosted by block trades; one for 13.2 million shares at $0.545 and one for 6.8 million shares at $0.54. Not clear who is behind married deals, no recent SGX filings of change in substantial shareholders, but stock fairly strong recently, bucking market after the wastewater treatment company announced new CNY360 million contract last Wed. Contract boosted order book to new record high of over CNY1 billion, marked company's first foray into design-build-operate model, attracted favorable broker comment.

 

Epure bucks falling market, heads higher on news of CNY360 million China wastewater treatment contract; share up 0.9% at $0.545 vs FTSE ST All Share index down 1.4%. Company says in statement contract consists of 9 wastewater treatment plants, construction expected to begin 3Q08, will take 30 months to complete. Adds contract takes order book above CNY1 billion mark for first time, is company''s first design-build-operate (DBO) municipal contract and China's first ever use of an integrated DBO model, which differs from the build-operate-transfer (BOT) model in that government, not contractor, takes on financing risk. DBS Vickers said in recent note that Epure "is one of the few SGX-listed water plays that has proven its orders win and project execution capability since listing;" tips company to win more contracts, which could act as share price catalyst. Analyst declined to comment on latest contract win, but recent note had Buy rating, $1.07 target price. Thin traded volume suggests shares may struggle to head much higher with 30-day moving average of $0.55 providing immediate cap.

 

I use reuters.com, u can refer the below links

http://stocks.us.reuters.com/stocks/overview.asp?symbol=EPIL.SI

http://stocks.us.reuters.com/stocks/overview.asp?symbol=HYFL.SI

http://stocks.us.reuters.com/stocks/overview.asp?symbol=ASEN.SI

 

may i know where did u get the data for the industry P/E?

 

 

Peer:

Epure        CurrP:$0.56     P/E(ttm): 20.79      Yield: 1.19% 
Hyflux       CurrP:$3.60     P/E(ttm): 49.49      Yield: 0.90%
Asia Env    CurrP:$0.51     P/E(ttm): 10.61      Yield: 1.96% 

*Industry P/E: 32.05

 

Too bad the good new of this counter is announced at the wrong time and will only see the upside after this wave of downturn.....

 

Let's see how market react to this new tomolo morning.. cheers..... will monitor this stock again,,,,

yipyip      ( Date: 20-May-2008 22:08) Posted: 1Q2008 FS Rev     RMB$126.48mln  +10.8% (vs 07) Profit   RMB$30.78mln    +23.6% (vs 07) http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_DCC01F549EC1FD7648257448005B390F/$file/Ann_1Q2008.pdf?openelement

 

1Q2008 FS

Rev     RMB$126.48mln  +10.8% (vs 07)

Profit   RMB$30.78mln    +23.6% (vs 07)

http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_DCC01F549EC1FD7648257448005B390F/$file/Ann_1Q2008.pdf?openelement

 

Peer:

Epure      CurrP:$0.56   P/E(ttm):20.90   Yield:1.19%

Hyflux      CurrP:$3.63  P/E(ttm):49.90    Yield:0.89%

Asia Env   CurrP:$0.44  P/E(ttm):9.49      Yield:2.27% 

 

Peer:

Epure      CurrP:$0.60   P/E(ttm):23.40   Yield:1.11%

Hyflux      CurrP:$3.57  P/E(ttm):55.66    Yield:0.91%

Asia Env   CurrP:$0.45  P/E(ttm):9.83      Yield:2.22% 

 

> downside expected when all new shares back from the 3 for 1 share scripts are back soon

 

EPURE INTERNATIONAL LTD.

(Incorporated in the Republic of Singapore)

Company registration number: 200515422C

EPURE SECURES EPC CONTRACTS AMOUNTING TO APPROXIMATELY RMB257 MILLION

The Board of Directors of Epure International Ltd. ("Epure") is pleased to announce that its subsidiary, Beijing Sound Environmental Engineering Co., Ltd ("Beijing Sound") has secured EPC contracts amounting to approximately RMB257 million. These contracts are secured and are being finalised for signing.

Industrial Contracts

The total industrial contracts secured amounted to approximately RMB55 million.

The first contract is with Tianjin Metallurgy Co., Ltd. Beijing Sound is in charge of design and project management, as well as to supply, install, test and commission the equipment for the wastewater treatment system. Completion is expected by December 2008.

Another three contracts are secured in the Tangshan area, namely with Tangshan Dafeng Coking Co., Ltd, Tangshan Desheng Chemical Co., Ltd and Tangshan Metallurgy Co., Ltd. The projects are to design, construct, procure, fabricate, install, test and commission the equipment for the entire wastewater treatment systems. Completion is expected by fourth quarter of 2008.

Municipal Contracts

The total municipal contracts secured amounted to approximately RMB202 million.

The first contract is with Ezhou Eqing Environmental Engineering Co., Ltd. The project is for the construction of a wastewater treatment system with a capacity to treat 120,000 tonnes of wastewater, divided into three phrases. Beijing Sound is in charge of design, construction, procurement, fabrication, installation, testing and commissioning of the equipment for the entire wastewater treatment systems. Completion is expected by fourth quarter of 2008.

Another two contracts are secured in Hubei province, namely with Jingzhou Jingqing Water Co., Ltd and Danjiangkou Yiyuan Water Co., Ltd. The projects are for the construction of wastewater treatment systems with a total capacity of 90,000 tonnes of wastewater. For one of the projects, it includes the laying of a 42km-long pipe network. Beijing Sound will construct, procure, fabricate, install, test and commission the equipment for the entire wastewater treatment systems. Completion is expected by first quarter of 2009.

The municipal contracts are entered into with Beijing Sound Environment Group Co., Ltd ("BJ Sound Enviro") and are subject to the guidelines and review procedures under the general Shareholders? Mandate for transactions with BJ Sound Enviro approved on 15 August 2007.

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Taking these contracts into account, the order book stands at approximately RMB435 million. This order book is for recognition as revenue, based on the percentage of completion of each project, mainly in 2008. Barring unforeseen circumstances, the projects are expected to have a favorable impact on the net earnings per share and the net tangible assets per share of Epure for the financial year ending 31 December 2008.

Epure?s CEO, Mr Wang Zhili, commented: "These projects are in line with our strategy to target larger projects with greater technical engineering complexity which will enhance Epure?s position as a leading player in the industry. Given the increasing attention and investment in the water and wastewater treatment industry in China, we expect numerous projects to materialise in the medium term and are confident of securing several of these."

By Order of the Board

Submitted by Choo Beng Lor, Company Secretary on 10 March 2008 to SGX.

The initial public offering of Epure International Ltd. was sponsored by Stirling Coleman Capital Limited who assumes no responsibility for the contents of this announcement.

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About Epure International Ltd.

Epure International Ltd. is widely recognised as one of China?s leading turnkey water and wastewater treatment solutions providers. Backed by extensive R&D, technical expertise, and a proven track record of over 12 years, it has successfully completed many award-winning large-scale and complex projects in the PRC.

The Group develops proprietary water and wastewater treatment technologies and customizes them into effective turnkey solutions for industrial and municipal projects. Epure has a strong marketing network in the PRC, making the Group much sought after for its strong design and engineering project management capabilities.

In 2006, Epure diversified into the management of water treatment plants with a 20% stake in Shanghai Chenghuan Water Operation Co. The Group also intends to venture into capital investment, having taken a 15% stake in Anyang Mingbo Water Operations Co. It looks to other BOT and TOT projects for co-investment. Both investments were done through Epure?s wholly-owned Beijing Sound Environmental Engineering Co.

The Group seeks to expand into other aspects of the supply chain for better integration of the whole eco-protection process, having set its sights on becoming a fully integrated services provider in the waste & wastewater treatment industry.

Having a major shareholder in International Finance Corporation, the World Bank?s private sector arm promoting socially and environmentally sustainable private sector investments, is ample testimony to Epure?s capabilities.

Epure was listed on the Main Board of the Singapore Exchange on 6 October 2006. That year, the Group ranked among the 10 Most Influential Water Companies in China and China Water Industry Top 10 EPC Companies. Non-executive chairman Wen Yibo came second among the 10 Most Influential People in China?s Water Industry.

For further information, please contact:

Mr Yan Xiao Lei of Epure International Ltd. at +86-10 6050 4710

or e-mail yxl@epure.cn

Mr Choo Beng Lor of Epure International Ltd. at +86-10 6050 4711 or +65 6272 6678

or e-mail zml@epure.cn

Ms Huang Ying Ling at +65 9026 6839

or e-mail yingling@oaktreeadvisers.com

Ms Nora Cheng of OakTree Advisers at +65 9634 7450

or e-mail noracheng@oaktreeadvisers.com

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After its 3 for 1 stocksplit last cum price was ab $1.75 so the theoretical price shd be $0.58...temporary held up by announcement of contracts secured ..safer  bet to buy below 40cts as > scripts will be on the way