Advance SCT Ltd Announces Completion Of Acquisition Of B&F Envirotech (Shenyang) Co. Ltd.

Advance SCT Ltd announced that the Company and its subsidiary, Green World Holdings Ltd (Green World) had completed the acquisition of the entire equity interest in B&F Envirotech (Shenyang) Co. Ltd., a wholly owned foreign enterprise (the WOFE) incorporated in Shenyang, the capital city of the north-eastern province of Liaoning, China. The WOFE owns and operates a 20,000 tonne/day wastewater treatment plant in the district of Xinglongpu under a 30-year Build-Operate-Transfer (BOT) contract from this year. The aggregate consideration of RMB9 million (the Consideration) has been fully paid. It has been agreed with the vendor that the Company will accrue profit from the WOFE from September 1, 2012.