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UPDATE FROM MOYA HOLDING COMPANY BSC (“MOYA”) IN CONNECTION WITH THE PROPOSED PLACEMENT OF 319,541,219 NEW ORDINARY SHARES AND NON-TRANSFERABLE SHARE OPTIONS TO SUBSCRIBE FOR UP TO 22,575,307 NEW SHARES IN THE CAPITAL OF DAYEN ENVIRONMENTAL LIMITED TO MOYA (THE “PLACEMENT”)
Unless otherwise defined, all capitalised terms used in this announcement shall bear the same meanings as in the Company's announcements dated 21 December 2009 and 24 January 2010 in relation to the Placement.
The board of directors (the “Board”) of Dayen Environment Limited (the “Company”) refers to the announcement made by the Company on 21 December 2009 in relation to the Placement. The Board has been notified by Moya on 8 February 2010 that the legal due diligence has been completed by Moya and the results are satisfactory.
In the meantime, Shareholders are advised to refrain from taking any action in relation to their Shares which may be prejudicial to their interests until they or their advisers have considered the information, the advice of the IFA and the recommendation of the Independent Directors to be set out in the Circular.
BY ORDER OF THE BOARD
Low Chai Chong
Independent Director and Audit Committee Chairman
9 February 2010
I like the coy biz. However, big question mark on management and that's key to investment... Perhaps put Mr Koh Boon Hwee or NKF chairman to recover confidence. Gd luck to those vested.
Trade with care on this counter. It may dip on Monday base on CAD investigation on their Executive Director.
ANNOUNCEMENT REGARDING FORMER DEPUTY CHARIMAN AND EXECUTIVE DIRECTOR MR JOHN LEE
The Board of Directors (the “Board”) of Dayen Environmental Limited (the “Company” and collectively with its subsidiaries, the “Group”) would like to announce that it has been informed by the Group’s former Deputy Chairman and Executive Director Mr John Lee, that he is currently under investigations by the Commercial Affairs Department (“CAD”) under the Securities and Futures Act. Mr John Lee has also informed the Company that a police bail of S$30,000 has been posted.
The Group has suspended the services of Mr John Lee with effect from 15 January 2010 until further notice. Mr John Lee assumed the role of Business Development Director of Dowtec Private Limited, currently an associate company of the Group since his resignation from the Group as Deputy Chairman and Executive Director in 15 October 2009.
The Board would also like to announce that the Group has furnished the information and documents to CAD pursuant to their formal order which was announced by the Group on 13 January 2010. The Group will continue to cooperate fully with CAD in its investigations.
The Board and Management expect that the aforesaid investigations by CAD will not have any material impact on the existing operations of the Group.
The Group will make the requisite announcements as and when there are material developments with regard to this matter.
BY ORDER OF THE BOARD
Low Chai Chong
Independent Director and Audit Committee Chairman
16 January 2010
ORDER TO THE COMPANY FOR THE PROVISION OF CERTAIN DOCUMENTS
The Board of Directors of Dayen Environmental Limited (the “Company” and collectively with its subsidiaries, the “Group”) would like to announce that the Criminal Affairs Department (“CAD”) has issued a formal order to the Group today to assist it with its investigations into certain affairs of the Group under the Securities and Futures Act, Chapter 289 pursuant to the provisions of the Criminal Procedure Code, Chapter 68.
The CAD has not informed the Group of the nature of their investigations. Nevertheless, they have requested for the Group to produce information and documents relating to, inter alia:
(i) the mining rights agreement entered into between the Group and PT Modal Investasi Mineral for the exploitation and marketing rights of 5 million metric tonnes of coal (“MRA”) in December 2007;
(ii) the acquisition of shares of PT ATPK Resources TBK by the Group (the “ATPK Acquisition”) in December 2007;
(iii) the coal sales agreement entered into between the Group and PT Repindo Jagad Raya for the purchase of coal in June 2008 (the “CSA”); and
(iv) certain employees and ex-employees of the Group.
The Group will cooperate fully with CAD in its investigations and will make the requisite announcements as and when there are developments with regard to this matter.
BY ORDER OF THE BOARD
Yau Wai Hoo
Chief Executive Officer / Managing Director
13 January 2010
die die!
| Singapore water firm Dayen sees profit in 2010: Update |
| Written by Thomson Reuters |
| Wednesday, 13 January 2010 17:09 |
Singapore's Dayen Environmental (DYEN.SI) expects to be profitable in 2010, after posting losses for the past four years, and is aiming to win $300 million of water contracts in Singapore and the region this year.
CEO Alan Yau said in an interview the firm has bid for over S$300 million ($216 million) of contracts and is also studying a $300-$500 million contract in China, as it concentrates on its core business of engineering and servicing water and waste water plants.
“The company has gone through a rough patch over the past two years and what we've done is to refocus our strategy,” Yau told Reuters on Wednesday. “For Dayen now, we will only be doing water and nothing else.”
The firm posted a loss of $5.5 million in its financial year ending September 2009. The firm reviewed its business and internal controls last year after being reprimanded by the stock exchange regulator for a lapse in governance and transparency.
The firm is bidding for a $220-$240 million contract to build a water treatment plant for the city-state's water authority, as well as smaller water contracts in Vietnam and Cambodia, Yau said.
Yau said the scarcity of water will result in higher government spending on municipal projects. Many governments are spending on infrastructure as part of multi-billion-dollar stimulus plans following the financial crisis.
Dayen expects China to improve its water infrastructure and will also be looking for growth in India and the Middle East, after an investment in the firm by Bahrain-based Moya Holding Company that has enlarged its capital, Yau said.
“India will be a market that we cannot ignore, and we understand that we have to have a presence there,” said Yau. “The Middle East is also a very promising and exciting place for us.”
Dayen competes with much larger local firms such as Sembcorp Industries (SCMN.SI), Hyflux (HYFL.SI) and Keppel Corp (KPLM.SI) for regional projects.
“In three years we will be in the big league,” Yau said.
Dayen halted its shares on Wednesday pending an announcement. The firm's stock rallied 91% last year, versus the broader Singapore index's (.FTSTI) 63% rise.
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give me a loud "YEAH"!
| Dayen expects to be profitable, win contracts in 2010 |
| Written by Thomson Reuters |
| Wednesday, 13 January 2010 14:46 |
Singapores Dayen Environmental (DYEN.SI) expects to be profitable in 2010, after posting losses for the past four years, and is aiming to win $300 million of water contracts in Singapore and the region this year.
CEO Alan Yau said in an interview the firm has bid for over S$300 million of contracts and is also studying a $300-$500 million project in China, as it sticks to its core business of engineering and servicing water and waste water plants.
“The company has gone through a rough patch over the past two years and what we've done is to refocus our strategy,” Yau told Reuters on Wednesday. “For Dayen now, we will only be doing water and nothing else.”
The firm posted a loss of $5.5 million in its financial year ending September 2009. The firm reviewed its business and internal controls last year after being reprimanded by the stock exchange regulator for a lapse in governance and transparency.
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More middle east projects on the pipeline. HUAT AH......
| Dayen wins ultra-filtration project in Qatar |
| Written by The Edge |
| Friday, 08 January 2010 09:25 |
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Water and wastewater treatment specialist Dayen Environmental says it has signed a new contract with Waagner Biro Qatar W.L.L. for a new ultra-filtration project in Qatar.
The contract, which is valued at US$583,000 ($814,626), will entail the design, supply, installation and commissioning of an ultra-filtration system for a treated sewage effluent polishing plant for Waagner Biro.
Waagner Biro is part of Waagner Biro Gulf LLC, an United Arab Emirates-based turnkey contractor for waste recycling and wetland water treatment plants.
The project is expected to contribute to the group’s revenue in the financial year 2010 (FY2010).
Dayen says the company has bagged over US$2 million in contract value from the Middle East since the company entered the region in FY2010.
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Still Halt? 2 days alreadi. Either very very toa ki or very very ho say.
Dayen 'berhenti' since yesterday, anyone know y??
| Dayen bags first Bahrain contract worth $2.15m |
| Written by The Edge |
| Friday, 11 December 2009 13:29 |
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Dayen Environmental, the wastewater treatment specialist, says it has entered into a new contract with Habib Ali Awachi & Sons Group for a new sewage treatment plant in Bahrain.
Under the contract, Dayen will supply and supervise the installation and commissioning of a 1,000 cubic metres/day municipal sewage treatment plant system using Membrane Bioreactor technology for Bahrain Petroleum Company (BAPCO), a wholly-owned company of the Government of Bahrain engaged in the production and refining of crude oil.
The contract is worth US$1.55 million ($2.15 million) and is expected to commence in January 2010 and is expected to be completed within eight months.
The project is expected to contribute to the group’s revenue in FY2010.
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Hmmm.... beginning of strong interest or just flirting?
Heard something about Brunei project.....but not sure true or not.....
