Incorporation Of Subsidiary And Investment In Associate
Incorporation of Subsidiary
- On 17 December 2007, the Board of Directors (the “Board”) of Enviro-Hub Holdings Ltd (the “Company”) is pleased to announce the incorporation of a wholly-owned subsidiary “Enviro-Power Pte Ltd” (“EPPL”). EPPL will own and operate the Company’s pilot plant for the conversion of waste plastics to fuel (“PTF project”) in Singapore.
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Enviro-Hub’s Pilot Plastic-To-Fuel Plant, A Roaring Success
- On 17 December 2007, the Group, one of Asia’s leading electronic waste solutions providers, has announced the successful completion of its Plastic-to-Fuel pilot plant project (“PTF”) in Singapore.
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Enviro-Hub’s 9M2007 Net Profit Jumps 227% To S$17 Million
- On 12 November 2007, the Group, one of Asia’s leading electronic waste solutions providers, recorded a 227% increase in net profit to S$17.0 million for the nine months ended 30 September 2007 (9M2007). Strong contributions from the trading of electronic waste (“e-waste”), metals, copper refining and the e-waste recycling businesses saw revenue increased 89% to S$122.8 million.
Acquisition Of The Remaining 36.3% Shareholdings Comprising 2,743,765 Ordinary Shares In The Capital Of Cimelia Resource Recovery Pte. Ltd. (The “Acquisition”)
- On 30 April 2007, the Group announced that 137,630,373 new ordinary shares in the capital of the Company, which have been allotted and issued pursuant to the Acquisition are listed and quoted on the Official List of the Singapore Exchange Securities Trading Limited.
Completion Of The Sale And Leaseback Of Properties
- On 19 April 2007, the Group announced that the sale of the E-HUB Property and the Cimelia Property (the “Properties”) to HSBC Institutional Trust Services (Singapore) Limited, as trustee of MacarthurCook Industrial REIT, and the leaseback of the respective Properties, have been completed. The final consideration amounts for the E-HUB Property and the Cimelia Property amounted to S$39,406,642 and S$20,800,000 respectively.
Enviro-Hub Receives The Necessary Approvals For Copper Plant To Commence Commercial Production And Sale
- On March 23, 2007, the Group announced that its wholly-owned subsidiary, e-HUB Metals Pte Ltd, has obtained the requisite approvals from the relevant authorities for the Group’s copper plant (the “Plant”). The approvals enable the Plant which is the first in Singapore and one of the few in the region to commence commercial production and sale of copper cathodes immediately.