Ann: FLC Awarded Aspiral Wastewater Project in Yiyang City, CHINA, page-22

Lol, I don't know and I have no way to verify. Like all the other posters have posted, Asian buyers are still very profit and hence value sensitive. Lots of BOT companies listed in Asia have price earnings of circa 10x. Yet, they are languishing.

This is where the problem with FLC is currently. Is this a legacy BOT, EPC where the contracts are lumpy? Or is this a decentralization, an emerging trend play where the velocity of orders are increasing in the like of Nirobox and Aspial? Jury is still out. Yes, Henry et al are touting that we are a decentralised play, a departure from the BOT lumpy contracts, but we haven't seen the decentralisation story entrenched yet.

Until then, the savvy Asian players will not come in yet. All IMO.