Company Briefs : China Everbright Water

China Everbright Water

Mainboard-listed China Everbright Water has bagged some 1.05 billion yuan (S$208 million) in contracts with the government authorities in Zibo city, Shandong province, for multiple relocation, expansion and upgrading projects of its existing waste-water treatment plants.

Among the contracts are those involving the relocation and expansion of Zibo Waste Water Treatment Project (Northern Plant), the upgrading of Zibo Waste Water Treatment Project (Southern Plant) and the upgrading of Zibo High-tech Zone Waste Water Treatment Project, all located in Zibo city.

The company will invest in, construct and operate these projects. Each of the three projects has a concession period of 30 years (including the construction period), the water environment management company said yesterday.

After the upgrades, all three plants will conform to the national Grade 1A water standard or higher, with some discharge indicators following China's Surface Water Quality Standard for Category IV.

Hiap Hoe

Hiap Hoe has entered into a sale and purchase agreement to acquire the 224-room Aloft Perth hotel and an office building for A$100 million (S$99.2 million) from BAAC, an affiliate of Australian manufacturing, building and construction company BGC (Australia).

"The directors believe the property presents a prime investment opportunity, with high occupancy levels and a diverse mix of blue-chip tenants," the company said in a statement yesterday.

Located at 25-27 Rowe Avenue, Rivervale, Western Australia, the hotel is managed by Starwood Australia Hotels.

The office building has 10,569 sq m of net lettable area. It is situated along the Great Eastern Highway corridor in proximity to multiple blue-chip companies and between Perth central business district and Perth Airport.

The price was arrived at a willing-buyer, willing-seller basis, taking into account the independent valuation of the property and various commercial factors, and will be funded by a mix of internal resources and debt.

Hiap Hoe has already paid A$11 million on Nov 1, and will pay the balance at the completion of sale.

A version of this article appeared in the print edition of The Straits Times on November 03, 2018, with the headline 'CompanyBriefs'. Print Edition | Subscribe