Hyflux shares halted on speculation it could be related to the much-anticipated & delayed outcome of the Tuas desalination plant tender. Hyflux has put in the lowest 1st year tariff of $0.45/m3 in the tender for the 318,500 m3/day plant, which will be constructed under a design, build, own & operate arrangement in Oct 2010.
JPMorgan, which has a Neutral rating on the stock & $1.90 target is optimistic over Hyflux's chances of securing the Tuas contract given the proximity of this plant to its existing SingSpring plant. Hyflux last closed at $1.83.
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