Sanli Environmental’s wholly-owned subsidiary Enviro Plant & Engineering has entered into a joint venture (JV) agreement with Mursun and newly-incorporated JV company Zaison Energy to undertake engineering, procurement and construction for waste-to-energy (WTE) gasification projects.
Singapore-incorporated Mursun provides engineering design and system integration for waste management and recycling systems; as well as waste treatment; WTE; waste management; and waste repurposing and recycling systems. Its sole director and shareholder is Leong Kum Wah.
Zaison has an issued and paid-up share capital of $50,000, divided into 50,000 ordinary shares. Enviro owns 65% of the shares, while Mursun owns the remaining 35%.
The subscription of shares in the JV Company by Enviro will be funded by Sanli’s internal resources. The JV is not expected to have any material impact on Sanli’s earnings per share or net tangible assets per share for the financial year ending March 31, 2025.
Shares in Sanli closed 0.2 cents higher or 2.1% up on June 10 at 9.7 cents.
