Sound Global (E6E.SG) +0.6% at $0.855, extending recent steady gains since bottoming out at five-month low of $0.73 in late May, says Dow Jones.

Gains this time driven by water treatment firm’s tie-up with World Bank unit International Finance Corp. to cooperate in more projects in China, with latter considering granting US$36 million ($50.5 million) loan to fund Sound Global’s work.

“This news boosts our confidence in the company’s ability to continue to raise funds for its investments in the more capital-intensive BOT (build-operate-transfer) projects, despite the credit tightening situation in China,” says DMG, which has Buy call with $1.04 target.

Immediate resistance at $0.885 (May 20 peak).