acquisition of a tapwater treatment plant
in huaiyuan city, anhui province
asia water technology ltd. (“asia water”)has acquired an existing tapwater treatment plant in huaiyuan city, anhui province from yuanquan (huai yuan) tapwater co.,ltd. asia water incorporates a wholly-owned subsidiary, bangbu xinya water services co., ltd in the people’s republic of china (“prc”), with a proposed paid-in capital of rmb6 million. this is the second tap water project secured by asia water, which expanding its business outside hubei province in prc. this transaction will have a positive impact on the revenue of asia water for the financial year of 2005.
