The Board of Directors of Goldis Berhad announced that Crest Spring Pte Ltd, a wholly-owned subsidiary of Goldis on 16 May 2013 entered into a BOT Concession Agreement with Yantai Economic and Technical Development Zone City Management and Environmental Protection Bureau.

Pursuant to the BOT Concession Agreement, a project company will be set-up to undertake the upgrading and expansion of the existing Sewage Treatment Plant in Yantai Economic Development Zone, Shandong Province in China operated by Yantai Xin Cheng Wastewater Treatment Co. Ltd, another subsidiary of Goldis.

The project company will be set-up for the following concessions:

1. To upgrade emission standard on the first phase of the existing project operated by YXCWT. The BOT Concession Agreement is for a period of 23 years.
2. To expand the water treatment capacity to 20,000 tonnes per day on the second phase of the existing project operated by YXCWT. The project investment cost and other related terms and conditions will be determined in a supplementary agreement to be signed later.

The proposed registered capital of the project company is US$5 million.