Chihu Water Treatment Plant

active

In July of 2003, Zhangzhou Jinfen Water Works Co Ltd (ZJWW) entered into a 50-year BOT agreement with the Government of Chihu, Zhangpu District to construct a 30,000 cubic meter per day capacity water treatment plant and supply treated water in Chihu, Fujian Province. The project was to be divided into two parts, namely the construction of the water treatment plant and the supply of pipe network. ZJWW was set up in China with a paid-up capital of US$1.169 million and was a wholly owned subsidiary of DKLS-PJI Venture Capital Sdn Bhd (DKLS-PJI), which in turn was which in turn was a joint venture between DKLS Industries (70%) and PJI Holdings Bhd. unit Ocean Electrical Co Sdn. Bhd. (30%), both of Malaysia. ZJWW was the sole investor of the project which was expected to cost 15 million ringgit (approx. US$4 million) in total. DVSB implemented a rights issue exercise, the proceeds for which enabled it to finance the project to be undertaken by ZJWW. None None