YHM Group wins $47 mil lease contract for hydro-electric power generating equipment

YHM Group said that it has secured a contract with a value of more than of US$37 million ($46.5 million) over a 20-year period to lease a set of hydro-electric power generation equipment for power supply to a national utility board in South Asia.

YHM expects the lease to start after the commissioning of the power plant which is expected to be before end 2013.

In a separate release, YHM said it is planning to place 1 billion new warrants to raise net proceeds of about $24.5 million.

Each warrant will entitle the holder to subscribe to one new share at 2.5 cents each.