Company Briefs: China Everbright Water

China Everbright Water

Mainboard-listed China Everbright Water has entered into a public-private partnership for a 1.25 billion yuan (S$249 million) project to protect drinking water sources in Tongxiang city in China's Zhejiang province, the water environment management company said in an exchange filing yesterday.

A project company will finance, construct and operate a wetland ecological engineering project, a water pumping station and a 30km raw water pipeline network connected to two water plants for a concession period of 20 years, including the construction period, under a build-operate-transfer model.

China Everbright Water is to own 79.9 per cent of the project company, while an investor representative from the Tongxiang city local government - Tongxiang Water Group - will hold a 20 per cent stake. CCCC Shanghai Dredging will own the remaining 0.1 per cent.


Vallianz Holdings and USP Group

Catalist-listed Vallianz Holdings and mainboard-listed USP Group have each warned that they expect net losses for the fiscal year ended March 31 this year.

Vallianz Holdings is likely to post a "significant" full-year net loss, as a result of expected non-cash impairment expenses for certain assets, the offshore support vessel provider said in a bourse filing on Monday night. Vallianz will release its unaudited full-year financial results tomorrow.

Meanwhile, mainboard-listed USP Group said yesterday that it expects to record a net loss for the fiscal year ended March 31, based on a preliminary review of the unaudited financial results. USP will announce its FY2019 results by tomorrow.


Ayondo

Ayondo chairman and co-founder Thomas Winkler transferred 1.2 million shares on Nov 22 last year at an undisclosed price to third parties who are existing Ayondo shareholders, according to a regulatory filing yesterday.

The transfer lowered Mr Winkler's total shareholding to 5.66 per cent from 5.9 per cent. In a separate transaction, he moved another 1.2 million shares from his individual account to a custodian nominee account on May 2 this year.

While the transactions were made about seven months and a month ago, respectively, they were announced only yesterday. Ayondo said it was informed of the changes after a "reconciliation of share transaction records".

A version of this article appeared in the print edition of The Straits Times on May 29, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe