UOBVM leads US$10 million financing round for China Energy Pte Ltd

Linyi, Shandong, China, 8 December 2005
China Energy Pte Ltd ("China Energy"), a leading manufacturer of DME in PRC has recently closed a round of US$10.0 million funding. UOB Venture Management ("UOBVM") led the round with a syndicate that includes Skyven Growth Capital, Exalt Global Investment, Auric Pacific Enterprise and Winage. UOBVM, through its ASEAN China Investment Fund ("ACIF") invested US$5 million of the financing round. Mr. Seah Kian Wee, Managing Director of UOBVM, has joined the company's Board of Directors.

China Energy has an operating subsidiary, Jiutai Energy Technology Co. Ltd ("Jiutai Energy") in Linyi, Shandong, PRC. Jiutai Energy is primarily involved in producing and distributing DME and methanol. Jiutai uses coal as the principal raw material to produce methanol while DME is produced by dehydration of methanol. Jiutai Energy is one of the largest producers of DME in China.