Singapore “Flyer” of the Week: C&G Environmental

C&G Environmental Protection Holdings Limited (SGX: D79) has flown a whopping 95.7% so far this week and this makes the company our “Singapore “Flyer” of the Week”.

C&G is involved in the investment, development, construction and operation of waste to energy plants (WTE) in China and in other countries. Currently, the company operates five WTE plants: Jinjiang, Hui’an, Anxi, Fuqing in Fujian; and Huangshi in Hubei, as well as a sludge treatment plant in Jinjiang.

On 23rd of October, C&G announced that it had entered into a letter of intent, on the previous day, with a company listed in China, to facilitate the negotiation and finalisation of a definitive sale and purchase agreement in respect of a proposed sale of its waste-to-energy business and assets.

The directors of C&G believe that the sale is “in the best interests of the Company and its shareholders” and that “the Proposed Sale will enable the Company to realise its investment… and to unlock the value thereof for its shareholders.”

The shares closed at $0.225 on Thursday and it is trading at a price-to-book ratio of 0.76. The company last paid dividends in 2011.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice.  Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.