Ming Hing Waterworks Holdings has acquired Mongolia
Tugrug Nuur coal mine owned by Well Delight Holdings and plans to put it into
operation by the fourth quarter of this year.

Tugrug Nuur is estimated to have 92 million tons of coal,
mainly thermal coal used for fuel. The coal mine is expected to produce 100,000
tons each month, totaling 300,000 tons in the first three months of operation.
However, the annual production is targeted to be 2 million tons next year and
to reach 8 million tons by 2019.