Darco warns of China payment delays
- From: Vol 5, Issue 2 (February 2004)
- Category: General
- Region: Asia
- Country: China and Singapore
- Related Companies: Darco and Globe Environmental
The Singapore-based company has had difficulty with official approvals. As the rush to take a stake in China’s water sector continues, one Singapore-based firm has found that it is sometimes easier to put money into China than to get it out.
Darco Water Technologies had to warn its shareholders last month that a delay in its water project in Deqing County, Zhejiang Province, had affected revenue flows for its financial year 2003. The group still expected its profits to be significantly better in 2003 than they were in 2002.
“A delay in the progress of our build-owntransfer project in Deqing, PRC ...
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