Hyflux

Hyflux: Co has reportedly awarded a US$300-400m to Siemens for the building of a 411-megawatt power plant. This plant will be used to provide power to Tuaspring, the 2nd desalination plant in Sg costing approx $890m. Construction on Tuaspring is to start during yr end but may be deferred due to the late award of the power plant contract and is now touted to be operational in 2014. The 411-MW plant will have extra capacity even after supplying Tuaspring and Singspring, with excess power to be sold for Singapore’s usage. Currently, Hyflux trades at fwd P/E of 14.3x.