Hyflux : Some recent news

http://createwealth8888.blogspot.com/2009/12/hyflux-weekly-breakout.html

Did Hyflux mgmt finally realize that finding strong partners is the way to go?

Stock price surge due to news related actions?
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Japan’s JGC Corporation and Hyflux to collaborate on developing water projects in China

Written by The Edge
Monday, 14 December 2009 15:12

Global engineering company JGC Corporation (JGC) of Japan and NewSpring Utility Pte Ltd, a wholly-owned subsidiary of Singapore-based membrane technology company Hyflux Ltd, today signed a joint venture agreement to jointly develop green field water projects in China.

The newly formed 50:50 joint venture company, to be called H.J. NewSpring Limited will be the investment holding vehicle for developing, investing and managing such water projects in China.

The JV company’s investment portfolio will initially comprise projects that are at the development and incubation stage, such as the Tianjin Dagang Seawater Desalination Plant, China’s largest seawater desalination plant. The JV company intends to expand the designed capacity of the plant from the current capacity of 100,000 cubic metres per day to 150,000 cubic metres per day.

The Hyflux Group will continue to provide the engineering, procurement and construction (EPC) services for the proposed expansion. The management consultancy, operation and maintenance services will be jointly provided by Hyflux and JGC.

The JV company will also grant Hyflux Water Trust rights of first offer and rights of first refusal for the project.

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Hyflux partners with China’s Bank of Jiangsu

26 November 2009

The Bank of Jiangsu is to provide up to RMB3 billion worth of financing facilities to Hyflux Ltd and its associated companies over the next three years to support Hyflux’s investment and operational needs in China, especially in Jiangsu province.

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Hyflux partners with JBIC for big water deals


Leonora Walet, Asia Green Investment Correspondent
SINGAPORE

Issue Nov 17, 2009 8:58am ESTSINGAPORE (Reuters) - Singapore's Hyflux Ltd said on Tuesday it would partner with the Japan Bank for International Cooperation (JBIC) to target water treatment projects worth over S$1 billion ($723 million) in China and elsewhere.
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Hyflux sees 20% profit

Tue, Nov 17, 2009
Reuters

SINGAPORE - Singapore water treatment company Hyflux Ltd said it expects to post a 20 percent rise in annual sales and profit over the next five years and plans a partnership with a Japanese group to develop water projects that could be worth more than S$1 billion.

Hyflux, builder of the largest membrane-based desalination plant in China, would boost its profitability on the back of increased spending by governments on treatment and desalination facilities to conserve scarce water supplies, Deputy Chief Executive Sam Ong told Reuters in an interview.

"The company is poised to pace record earnings in 2008 this year," said Ong. He said Hyflux's order book value for engineering and construction projects, at more than S$1 billion, should sustain earnings growth over the next two years. The partnership would involve state-backed Japan Bank for International Cooperation (JBIC), he said.