Hyflux: Update on 7 Mar announcement. Co has signed a 25 yr water purchase agreement with PUB for Sg’s second and largest desalination plant. The $890m plant will commence operations in 2013 and add 318.5k cubic metres of water at a 1st-yr price of $0.45 per cubic metre...
Co has an order book of combined $1.6b excluding this contract and rev of $570m in recent FY10 results. This asset may eventually be spun off similar to the 1st Sg desalination plant currently owned by CitySpring. Co is trading at fwd P/E of 19.4x lower than hist avg of 23.2x
No comments:
Post a Comment