hyflux
in preparation for a public listing, hyflux pte ltd was incorporated on 31 march 2000 to assume the role of an investment holding company for the group. hydrochem became a wholly - owned subsidiary of hyflux. subsequently on 20 december, hyflux pte ltd was converted to a public limited company and the name was changed to hyflux ltd .
hyflux is dedicated to delivering water solutions for a sustainable and secure water future. read more
on 9 january 2001, hyflux launched its initial public offering, and on 17 january, hyflux shares began trading on the secondary board of the singapore exchange (sgx). hyflux was the first water treatment company to be listed in singapore. on 14 april 2003, hyflux was promoted to the sgx mainboard, having met all requirements for a mainboard listing .
what defines hyflux is our people – passionate, innovative, optimistic and deeply committed to give their best .
in fact, hyflux began its journey of internationalisation because it was a matter of survival, she added .
by its third year in china, hyflux had gained enough traction to staunch the bleeding. that was also around the time that more multinational companies began investing in the market, and some of them became hyflux customers .
at the heart of hyflux is our mission to deliver sustainable solutions in water and energy for a better tomorrow .
hyflux is the fulfillment of our founder’s dream to build a business in an industry confronted with ever growing needs .
lower revenue from engineering, procurement and construction activities hurt second - quarter results for water and energy firm hyflux .
tuaspring has been an impediment to hyflux' s earnings since it started its power plant operations in march last year .
municipal projects continue to be hyflux' s main revenue driver, accounting for about 81 per cent of total turnover .
our hyflux team is multi - national and multi - talented. learn from the unique perspectives and experiences of our people .
this was partly offset by turnover recognised for hyflux' s projects in saudi arabia, which began construction during the quarter .
hyflux moved in and soon won a contract to build a water desalination plant in algeria, the biggest in the world .
hyflux shares closed three cents or 5. 7 per cent higher at 56 cents yesterday, after the announcement was made .
it is also likely that hyflux will continue to operate and maintain the tuaspring plant after its partial divestment. in 2006, hyflux sold off part of its stake in singapore' s first desalination plant, singspring, to cityspring infrastructure trust (now keppel infrastructure trust). hyflux retains a 30 per cent stake in singspring, but also handles all of the site operations and maintenance .
developed, tested and manufactured in singapore, hyflux’s proprietary kristal® ultrafiltration (uf) membrane has been installed in over 400 locations worldwide .
at hyflux, we invite our people to keep dreaming, to rise to challenges, to discover new strengths and extend their horizons .
the successful completion of the landmark singspring desalination plant boosted hyflux’s profile and visibility in the global water industry. the project won the distinction in the desalination plant of the year category at the global water awards 2006. hyflux was also named water company of the year .
in january 2003, hyflux was named the preferred bidder by pub to build, own and operate singapore’s first seawater reverse osmosis (swro) desalination plant and also first public - private - partnership project. it was not just hyflux’s first desalination project; it was also the biggest project to date. the estimated project value of s $ 200 million was even larger than hyflux’s market capitalisation at that time !
sharing ideas, making an impact and transforming people' s lives. this is what a job at hyflux is all about. read more
a specialist in water treatment, hyflux is distinctive in its ability to address the challenges at every point of the entire water value chain .
a new $ 30 million fully - integrated and automated steel structure fabrication - processing line at hyflux’s tuas facility, which was launched yesterday .
if you would like more information about hyflux, please contact one of our offices or use the email links below to contact your area of interest .
hyflux announced on thursday it is expecting a loss for the second quarter ended june 30, 2017, largely driven by a weak singapore power market .
hyflux announced on thursday it is expecting a loss for the second quarter ended june 30, 2017, largely driven by a weak singapore power market .
that same year, hyflux won its third pub project, chestnut avenue waterworks, singapore’s first waterworks that uses membrane - based filtration to produce potable water .
since then, hyflux has moved from strength to strength in the middle east and north africa, and has also started taking small steps into south america .
opening its flagship elo lab in belvedere close in the third quarter this year. elo is hyflux’s oxygen - rich water business line for the retail sector .
hyflux is one of singapore’s most uplifting success stories, a one - woman start - up turned multinational firm that provides clean water for markets around the world .
hyflux is committing up to s $ 2. 5 million in cash and in kind to human clinical trials to further ascertain the scientific merits of its elo water .
hyflux had finally found the success at home that it was craving at the start, but this only fuelled ms lum’s ambitions to venture back out into the world .
hyflux yesterday also signed a memorandum of understanding with nanyang technological university' s nanyang environment and water research institute to collaborate on next - generation water - treatment technologies .
tuaspring is owned by hyflux, which last week appointed dbs bank and china international capital corp as financial advisers to evaluate a partial divestment of up to 70 per cent .
in 2009, hyflux expanded its presence in the mena region with a contract to design and supply a desalination plant for the salalah independent water and power project in oman .
in 2012, hyflux moved into its new global headquarters at 80 bendemeer road called hyflux innovation centre (hic). hic houses the executive and corporate offices, engineering design and technology commercialisation departments that integrate the technologies developed out of the group’s r & d laboratories into viable, cost - effective and sustainable solutions for the global water industry .
water - treatment firm hyflux is making a splash across its operations - boosting productivity, developing new membrane technology and diversifying into oxygen - rich water for the healthcare market .
singapore - hyflux and changi general hospital announced on wednesday (feb 15) that they will conduct the first human clinical trials of the company' s elo water on diabetes .
if the trials are successful, it will ultimately improve the quality of life for diabetic patients ,
said ms olivia lum, hyflux executive chairman and group ceo. .
in 2004, hyflux was awarded the contract to design, build, own and operate a swro desalination plant on 30 - year concession in the dagang district of tianjin in northern china .
the latest venture to come to fruition is a $ 30 million fully - integrated and automated steel structure fabrication - processing line at hyflux' s tuas facility, which was launched yesterday .
ms lum said hyflux will continue to invest in research and development to expand new applications for the elo business line. it manufactures and bottles elo drinking water only at its singapore facilities .
a version of this article appeared in the print edition of the straits times on may 03, 2017, with the headline' foreign buyers eye hyflux water plant'. print edition | subscribe
following the success with bedok newater plant, hyflux secured another project from pub, singapore’s national water agency, in 2002 to design, construct and commission the country’s third newater plant in seletar .
hyflux continued to make further gains in the middle east with a contract from the saline water conversion corporation to design, build and supply a containerised desalination system to the kingdom of saudi arabia .
in order to remain competitive, we have to take the necessary steps to drive innovation and adopt high - value processes ,
ms lum said at the launch at hyflux innovation centre .
a version of this article appeared in the print edition of the straits times on august 04, 2017, with the headline' hyflux q2 earnings slump on tuaspring losses'. print edition | subscribe
hyflux is the fulfillment of our founder’s dream to build a business in an industry confronted with ever growing needs. at the core of our philosophy is our commitment to produce water that is clean ,
were in the order of s $ 1. 4 billion for an eventual s $ 400m issue size. for a prospective investor looking at hyflux’s bonds, the firms weak credit profile should be weighed against its ability to continually tap capital markets for financing  we would also suggest that investors pay close attention to the pricing for hyflux’s bonds, which can be skewed by strong retail investor participation (the
regulatory approval is needed although the national water agency pub, which buys water from tuaspring, said it has been notified of hyflux' s intent but is yet to receive a formal application to divest .
hyflux successfully raised s $ 400 million through a 6% cumulative, non - convertible, non - voting perpetual class a preference shares issue, the first corporate in singapore to launch such an issue .
while hyflux has found great success through internationalising early, ms lum noted that it is important for companies to not only know the foreign market but also understand their own products well before they venture abroad .
and success indeed came to hyflux as orders began trickling in. but never one to rest on her triumphs, lum bravely decided to expand to china, although the company was still in its infancy. the move paid off handsomely, and today china accounts for 20% of hyflux’s business. lum believes she received the crucial first - mover advantage over competitors such as ge and suez with this strategy .
besides hyflux, the edb also worked with other large local enterprises such as precision engineering group meiban on its ismart factory project last year. meiban aims to use robotics and technology to digitalise its factory operations .
if the impact of tuaspring is excluded, hyflux would have recorded a quarterly net loss of $ 4. 2 million, compared with earnings of $ 35. 4 million for the same period a year earlier .
hyflux would first have to start receiving bids for the plant. its financial advisers would then come up with the proposed sale structure, which could be done via equity transfer or a trust structure, for example .
when the singapore government decided to launch a tender to build the country’s first seawater desalination plant, hyflux competed for the bid and won. it was the world’s first plant to use membrane technology to desalinate seawater .
hyflux group executive vice - president lim suat wah said :
the price at which pub buys water from tuaspring is governed by a water purchase agreement between pub and tuaspring over the concession period of 25 years .
the facility will improve operational productivity by about 25 per cent, said hyflux executive chairman and group chief executive olivia lum. it will also boost the skill profile of its employees and reduce its reliance on foreign labour .
hyflux ltd has announced that through its wholly - owned entity hyflux utility (india) pte ltd – together with its japanese partners hitachi ltd and itochu corp – it has signed an agreement for the development of a sea - water desalination plant with a designed capacity of 336 000 m 3 (88. 7 million gallons) per day to be located in the dahej special economic zone (sez) in the state of gujarat, india .
japanese engineering company jgc corp (jgc) and newspring utility pte ltd, a wholly - owned subsidiary of singapore - based membrane technology company hyflux ltd, recently signed an agreement to jointly develop greenfield water projects in china .
hyflux’s core business is to provide fully - integrated municipal water treatment and renewable energy solutions. listed on the singapore stock exchange (with a market cap of s $ 439. 8 million as of 17 may 2016), hyflux develops, own and operates numerous public infrastructural assets in singapore, china, africa and the middle east region. its landmark projects include singapore’s first newater plant as well as some of the largest desalination plants in asia .
designed to deliver the convenience and efficiency of small water treatment system to end users, hyflux’s standard membrane systems (sms) are capable of treating water from a wide range of sources for various applications by industries and small communities .
pointing to the edb' s partnership with hyflux on its recent investments, dr beh added :
we look forward to replicating this with other large local enterprises keen on future - proofing their business and growing new businesses .
a version of this article appeared in the print edition of the straits times on february 08, 2017, with the headline' edb partners hyflux in efforts to' future - proof' business operations'. print edition | subscribe
hyflux is one of singapore’s home - grown brands which has established itself internationally as an innovative environmental solutions provider. however, its near - term business outlook is likely to remain challenging. we take a quick look at the company’s fundamentals .
our examination of hyflux suggests that barring a large asset sale, the companys balance sheet is unlikely to delever significantly over the next few years, which means credit ratios will continue to remain under pressure (were expecting to see interest coverage in the low 1x range over the next three years). nevertheless, hyflux is a household brand name in singapore, and has a strong track record of obtaining access to capital markets at attractive rates  recall that in 2011, total orders for the
the municipal segment (where hyflux provide water treatment solutions to local governments) comprise 94% of the company’s revenues of s $ 445 million in fy2015 while the industrial segment (supplying liquid seperation application for manufacturing and petrochemical industry) contributed 5% . (see chart 1). in terms of geography, hyflux’s derived the majority of its revenue in fy2015 from the middle east and north africa region (mena) in fy2015, having secured new project wins in oman and saudi arabia (chart 2) .
said cgh ceo dr lee chien earn :
hyflux has come to us with an interesting hypothesis based on animal studies that could help our patients with diabetes. we have thus embarked on this research collaboration to test this hypothesis in a robust scientific way .
in addition, the mainboard - listed group said it will open its flagship elo lab in belvedere close in the third quarter this year, as it moves to diversify its business offerings. elo is hyflux' s oxygen - rich water business line for the retail sector .
2001 was a defining year for hyflux for yet another reason – the company was awarded its first municipal water treatment project in singapore to supply and install the process equipment for the bedok newater plant, the country’s first newater plant which would mark the launch of the third national tap .
its owner’s entrepreneurship drive meant that the company focused substantially on innovation. with lum herself heading the company’s r & d department, hyflux, most notably, developed a special ultrafine membrane filter that is today the defining quality in all its products. hyflux recently completed building the biggest desalination plant in asia on singapore’s west coast, and is constructing similar plants in china and dubai. for lum, the horizon is only expanding. she now wants to set up shop in india and is gradually shifting from small - scale projects to big industrial ones in china and elsewhere .
closer to home, hyflux entered into a joint venture with mitsubishi heavy industries to develop the tuasone waste - to - energy (wte) project, which includes a concession to provide waste treatment services over a period of 25 years and contributing s $ 750 million to its order book .
against the backdrop of unfavourable cyclical conditions, hyflux’s business environment is likely to remain tough for the foreseeable future. this is in addition to persistently subdued oil prices, which will constrain the likelihood of securing more orders from countries in the middle east as the region reduce investments in infrastructure .
hyflux continued to set new benchmarks in 2011. the group showed its mettle by securing singapore’s second and largest seawater desalination project amidst very tough competition and surprising the industry with an innovative proposal to incorporate an on - site 411 mw combined cycle power plant to produce electricity for the desalination plant and power grid. the shared facilities of the desalination plant and the power plant would create synergies between the two operations and lead to higher levels of efficiency, thus lowering the cost of desalination. the integration of a water project with a power plant was the first for singapore and for hyflux .
hyflux completed the construction of the 411 mw combined cycle power plant co - located with tuaspring desalination plant in singapore. this development marked the company’s expansion into a new business that would complement and enhance its competitiveness in its core water business. the power plant is expected to be fully operational in 2016 .
in the worst case scenario where hyflux’s cash position deteriorates materially due to delayed payments from its main customers, it may have to reduce its capital expenditures or monetize its assets by going through further strategic divestments of service concession rights as well as sales of its non - core assets. in 2014 for example, the company sold and leased back the hyflux innovation centre for a cash consideration of s $ 170 million in order to strengthen its balance sheet. it also divested its concession rights for five water and wastewater treatment plants in china in 2015. further asset sales will be made going forward to free up cash flow. specifically, as of end - 2015, its balance sheet had s $ 212 million in assets classified as held for sale. the majority comprises of its 50% joint venture stake in galaxy newspring pte ltd, in which hyflux’s management has guided that it intends to sell this year .
mr. siddique also served as the ceo and board member of hyflux water trust (hwt), a global water infrastructure fund, and led its ipo on the main - board of the singapore stock exchange. hwt’s investment focus was water and waste - water treatment, desalination, water recycling, and water distribution projects, primarily in china, the middle east and north africa region and other high growth markets. under his tenure, hwt delivered first year distribution per unit and net profit which exceeded ipo forecast, and also increased hwt’s total water assets size under management by 112% . mr. siddique was also a member of the top management of hyflux ltd. in singapore, one of the leading water infrastructure companies in asia, where he was responsible for hyflux’s india operations and engineering, procurement and construction (epc) business globally, and assisting the group’s ceo / founder in overseeing china and middle east and north africa markets .
an artist' s impression of hyflux' s flagship elo lab, which is expected to open in the third quarter of this year. the edb has partnered with the water - treatment company in rolling out a number of investments, including a $ 30 million integrated and automated steel structure fabrication - processing line .
hyflux reported a net profit of s $ 45 million in fy2015, a 22. 7% decline over the previous year. this is despite a steep rise in revenue primarily due to the recognition of construction revenues from its qurayyat iwp project in oman, as the firm’s margins contracted due to rising input costs .
it is worthwhile to note that in january 2015, hyflux had successfully carried out a consent solicitation exercise with noteholders to seek covenant relief, broadening the interest coverage ratio covenant to include the unencumbered cash position of the company in addition to consolidated ebitda, allowing the company more wiggle room to meet its debt obligations .
in 2015, hyflux and its consortium partner mitsubishi heavy industries was named the preferred bidder by the national environment agency to design, build, own and operate singapore’s largest waste - to - energy plant. the company’s first waste - to - energy project will have one of the best land utilisation factors in terms of incineration capacity per unit floor area and will also be one of the most efficient in terms of energy recovery per unit waste incinerated in the world. with this win, hyflux will add energy recovery from waste to its range of environmental solutions as the company focuses on contributing to resource optimisation and sustainable growth for communities and industries .
olivia lum, founder and ceo of singapore - based hyflux, has often said that she is attracted by the unpredictable. this love of the unknown was perhaps the catalyst for her choice to study chemistry, but is more likely the reason why lum is the first ever woman to be crowned ernst & young world entrepreneur of the year (2011) .
our projections do not support the view that its earnings will generate sufficient free cash flows to support its debt repayments. in view of this, hyflux will likely tap the bond markets again soon to extend its debt maturity profile, redeeming the considerable amount of debt securities coming due and preventing an escalation of its borrowing costs due to the onerous coupon step - ups of its perpetual securities .
still, olivia lum is facing her biggest challenge yet. the company’s moderate size means that resources for its famed r & d and industrial projects, which need heavy investments, are limited. though hyflux’s share prices are buoyant, to say the least, she knows very well that unless she finds viable financing methods for these big - ticket projects, the company’s ambitious plans might not take off .
despite this, hyflux has not formally breached its financial covenants that it has to meet under its s $ 1. 5 billion multicurrency debt issuance programme, which requires an interest cover of at least 3 times, a consolidated tangible net worth of not less than s $ 300 million, and the ratio of consolidated net borrowings to consolidated tangible net worth of not more than 1. 5 times .
hyflux’s revenues are mostly derived from the operation and maintenance (o & m) of more than 30 water, wastewater, water recycling and desalination plants around the world through service concession arrangements. a significant part of its earnings come from the recognition of engineering, procurement and construction (epc) revenues from its pipeline of municipal and industrial projects. this includes the sale of proprietary water filtration membrane technology for industrial use .
in fact, at the time of its launch, hyflux was a company whose time had come. the firm opened its doors when singapore’s dependence on malaysian water supplies was a vexing concern for its citizens, and its government was introducing an ambitious program to achieve water self - sufficiency. the company’s role in this project and another national project on water - recycling strengthened its reputation and projected its image as a leader in the field .
hyflux has also recently ventured into the consumer segment to grow their recurring income with its investment in indonesia - based pt oasis, a manufacturer of bottled drinking water. it also invested with kaqun europe, a consumer water technology company, to manufacture and distribute highly oxygenated water under a brand name elo within the asia - pacific region. however, these investments are in its early stages and unlikely to provide support to its earnings soon .
two weeks ago, while receiving her entrepreneurship award at monte carlo after pipping 48 other well - known entrepreneurs at the post, the 50 - year - old told the world that “there are no difficulties you can’t overcome when you have faced the challenges of hunger and poverty. ” it is perhaps this strong self - belief that has inspired hyflux’s grand motto: ‘quenching the world’s thirst. ’ that said, olivia lum’s thirst to be the best may be unquenchable .
fy2015 and 1q2016 was a strong period for hyflux as the company strengthened its order book by a significant 21% to s $ 3. 66 billion from s $ 2. 93 billion as at end - fy2014. this came from a slew of new project wins which include building a seawater reverse osmosis desalination plant in oman (qurayyat iwp), the contract to build the ain sokhna integrated water and power project in egypt, as well as two projects in saudi arabia .
in 1994, just as china was opening its doors to foreign investments, olivia decided to venture into the vast chinese market, setting up an office in shanghai. it was an uphill task for a young singapore company with limited resources and little knowledge of a market which had not even heard of, let alone embrace, the concept of wastewater treatment. patience, perseverance and optimism paid off eventually, and the hyflux’s presence in shanghai also allowed it to serve existing clients in singapore who were moving their production lines to china .
mr. yeung is a co - founder and principal of odyssey capital and tigris infrastructure partners. he has over 15 years of infrastructure investment, investment banking, and infrastructure operating company experience. after establishing odyssey capital, he has advised more than a dozen water companies in asia on various strategic and fund raising mandates on public private partnership (ppp) projects in growth markets in asia, including india, indonesia, china, philippines, and thailand. mr. yeung worked at ifc, based in hong kong, investing in power, water, ports, roads and renewable energy in emerging markets in asia. mr yeung was formerly a senior vice president at srei infrastructure finance, and a vice president at hyflux water trust and hyflux capital. he started his career as an investment banker at credit suisse first boston and bankers trust, based in sydney, australia. mr yeung holds a b. ec. (hons) from university of sydney, llb from university of new south wales, master of science in foreign service from georgetown university, and is a cfa charterholder .
olivia lum’s extraordinary story suggests that unpredictability might well be her raison d’être. her childhood is an inspiring tale of immense hardship and soul - numbing poverty. it seems this difficult early life instilled within her exceptional determination and resourcefulness, which she has employed to propel her company to great heights. today, hyflux is one of the world’s leading suppliers of water desalination equipment, with annual revenues of over $ 450 million and a workforce of more than 2, 300 people across various countries in asia, the middle east, and north africa .
additionally, hyflux has four outstanding bonds issued under its debt issuance programme, with maturities extending into 2019. it also has three perpetual securities with embedded call provisions, obliging the company to redeem them upon its first call dates (which falls between 2016 and 2018), or face hefty variable coupon step - up rates. hence, it is expected to redeem one series of its perpetual bonds (hyfsp 4. 800% perpetual corp (sgd) ) when it reaches its first call date in july as well as hyfsp 3. 500% 21jul2016 corp (sgd) which will come due in the same month, requiring a total principal repayment of s $ 275 million in 2016 .
while hyflux remains fundamentally solvent as a business, we think liquidity will likely be an issue for the company given the extent and maturity profile of its borrowings. its balance sheet is therefore anticipated to remain weak as looming principal debt repayments and interest costs crimp its cash balances. as of end - fy2015, the company had s $ 1 billion in total bank borrowings which are repayable over a period of 15 years, a proportion of which (s $ 484 million) consists of unsecured bank loans which will come due over the coming year. it had recently secured refinancing of its revolving credit facility and rolled over its existing five - year us $ 200 million facility due for repayment in july. given the relatively low quantum of its remaining short - term loans (s $ 274 million), it is expected to successfully refinance the rest of its short - term borrowings .
most people would be satisfied with such progress but not lum. it was the late 80s and her ambition was straining at the leash. in an interview with the financial times, she narrates how her supervisor at glaxo was shocked that she wanted to quit and start her own business. his astonishment was not unreasonable in the small state of singapore, whose economy at that time was dominated by multi - national companies (mncs). the goal of the average young singaporean was to get inside the hallowed doors of these mncs, which offered good money and a cozy lifestyle. but lum, who had tasted adventure when still young, turned her back to such comfort. she sold her car and apartment and used the money to set up a water treatment plant named hydrochem, the precursor to hyflux. her interest in the area had grown after she helped develop such a plant for glaxo. lum’s natural intelligence told her that the world would soon start demanding clean water, and her keen mind sensed an opportunity .
our membrane products and modular standard systems deliver scalable and high performance solutions for industries. read more
elo is living water - a special oxygen - rich water that nourishes the body from within & enhances overall well - being. read more
elo is living water – a special oxygen - rich water that nourishes the body from within & enhances overall well - being .
we are a leading sustainable solutions company and among the top global desalination plant providers .
we are proud that our progress and achievements have been recognised by numerous organisations .
if you are passionate about making a difference while pursuing a career, join us in our mission to deliver sustainable solutions for a better tomorrow .
as a global leader in sustainable solutions, we offer career opportunities in many disciplines .
file attachment (size should not exceed 1mb. only formats ending with. doc or. pdf are accepted. )
2nd floor, hari krupa no. 71 / 1, mc. nichols road chetpet, chennai 600 031 india
av. 1 de mayo # 120 – piso # 2, colonia san andrés atoto naucalpan de juárez, estado de méxico. c. p. 53500
the company has advised its shareholders on the expected loss based on the currently available preliminary assessment of its unaudited financial results for the quarter, which is in the process of finalisation .
the company will announce its unaudited financial results for q2 2017 on or before aug 14 .
it reported a net loss of $ 25. 1 million for the three months to june 30, compared with earnings of $ 2. 6 million for the same period a year earlier .
the net loss includes the up - for - sale tuaspring plant, which the firm noted
contributed losses of $ 20. 9 million due to weak power spreads in the singapore market
.
tuaspring has been an impediment to earnings since it started its power plant operations in march last year. the firm said in february this year that it was exploring a partial sale of the asset .
quarterly revenue dropped 65 per cent to $ 81. 8 million, owing to lower engineering, procurement and construction activities for the tuasone waste - to - energy project here and the qurayyat independent water project in oman .
net loss excluding tuaspring: $ 4. 2 million (% change not meaningful )
the firm said it recorded a gain of $ 16. 5 million after selling its 50 per cent stake in its galaxy newspring joint venture in march .
staff costs rose 20 per cent to $ 23. 3 million, mainly owing to the tuasone project, which entered a
manpower - intensive phase of the construction schedule
.
singapore accounts for about 58 per cent of total revenue and the middle east around 31 per cent, said the firm .
quarterly loss per share was 4. 91 cents, compared with a 1. 58 - cent loss a year earlier, while net asset value was 28. 9 cents a share as at june 30, compared with 45. 1 cents as at dec 31 last year .
shop smart at gain city group buy. register & get $ 3, 000 shopping vouchers !
terms & conditions data protection policy need help? reach us here. advertise with us
sph digital news / copyright © 2018 singapore press holdings ltd. co. regn. no. 198402868e. all rights reserved
we have been experiencing some problems with subscriber log - ins and apologise for the inconvenience caused. until we resolve the issues, subscribers need not log in to access st digital articles. but a log - in is still required for our pdfs .
foreign buyers are eyeing a piece of the tuaspring power and desalination plant, in a transaction that could take singapore' s largest desalination plant out of local hands .
tuaspring, asia' s first integrated water and power plant which cost more than $ 1 billion to build, has attracted buying interest for years .
most requests are from chinese and japanese buyers, although there is interest from south - east asia and the middle east as well .
potential buyers include infrastructure funds keen on stable income, or operators looking to beef up their track record and gain an advantage when they bid for projects overseas .
although tuaspring' s power plant is loss - making, under a water purchase agreement signed with the pub, the facility is to supply the national water agency with 70 million gallons of desalinated water a day over a 25 - year period from 2013 to 2038. the plant goes back to the pub at the end of 25 years .
asked by the straits times if there are any restrictions on foreign ownership for singapore' s strategic water assets, the pub said :
any divestment or change in the identity of the concession company or its shareholding... will require pub' s approval .
but tuaspring would not be singapore' s first water asset to be placed under foreign ownership. in january, a $ 170 million newater plant - singapore' s fifth - was opened in changi. that plant is an 80 - 20 joint venture between chinese water utilities company bewg international and singapore environmental engineering firm ues holdings .
notably, a change in ownership will not have any bearing on the price at which tuaspring sells water to the pub, or from the pub on to end consumers .
there is no restriction on foreign ownership of power generation assets in singapore' s power sector .
the trials will study whether patients with diabetes can obtain better glycaemic control by drinking elo water in addition to their ongoing lifestyle and medical treatments, and whether diabetic foot or ankle ulcers can be treated with elo water bath and elo gel, they said in a joint statement .
dr joan khoo, senior consultant and chief of endocrinology at cgh, is the principal investigator of both trials .
elo water is created through technology that allows a high level of oxygen to exist in the water in a unique, stable and bound form that is believed to allow quick absorption by the body, restoring its natural balance and enhancing health and overall well - being .
positive results have been obtained from animal trials of elo water conducted overseas, said the statement .
trials conducted by researchers at monash university in australia on transplanted human cancerous tumours in mice showed that elo water through oral application was able to be absorbed and penetrated into the tumours, enhancing oxygen levels inside the cancers and inhibiting their growth .
diabetes is a big public health concern for singapore. in 2015, international diabetes federation reported that 12. 8 per cent or 541, 600 of singaporeans aged 20 years to 79 years have diabetes .
the prevalence of type 2 diabetes in singapore is forecast to double from 7. 3 per cent in 1990 to 15 per cent by 2050 .
in 1989, olivia lum, a chemistry graduate from the national university of singapore, left a promising career at glaxo pharmaceutical to fulfil her dream to set up her own business. challenged by the difficulties that industries faced in treating the wastewater from their processes and anticipating increasing pollution of waterways with rising urbanisation and industrialisation, olivia saw that the water treatment business could only be a “sunrise” industry. so armed with a big dream and youthful idealism to solve the world’s problems, olivia sold her apartment and her car to raise s $ 20, 000 as start - up capital for the business. hydrochem (s) pte ltd was incorporated on 20 june 1989 and started operations with two other staff. during the early days, olivia knocked on countless doors of factories in singapore and malaysia to sell water treatment products and systems using traditional technologies .
in 1992, acting on the foresight that membranes would be the next big trend for the water industry, hydrochem obtained the exclusive rights from a supplier to distribute membranes and membrane filtration plants to industrial customers. not only did the company acquire the knowledge of membrane installation, it also sparked some early research into membrane technologies .
the late 1990s saw hydrochem establishing a reputation for itself in the area of membrane filtration technology for the water industry. because the technology was relatively new to industries, the company conducted more than 100 pilot plant trials of membrane applications and water treatment technologies for the pharmaceutical, food and electronics industries. its efforts paid off when the company began to secure larger projects .
in 1999, a r & d team was set up with the aim of manufacturing its own range of membranes. having a proprietary technology would set hydrochem apart from its competitors in the growing water industry. the first generation of kristal® hollow - fibre ultrafiltration (uf) membranes was successfully produced in - house and proved their robustness when put to test in singapore’s jurong bird park wastewater recycling project .
since then, several generations of kristal® uf membranes have been produced and today, the brand is a market leader and have been installed in some of the world’s largest membrane - based desalination plants. several membrane products, systems and applications have since been developed out of the r & d centre, currently one of asia’s largest for membranes and materials technologies .
the project swiftly got off the ground and was completed three months ahead of schedule. on 13 september 2005, prime minister lee hsien loong turned on singapore’s fourth national tap with the official opening of singspring desalination plant .
the company established a new footprint in the middle east north africa (mena) region when it secured the first project in algeria in 2006 – a 200, 000m 3 / day swro desalination plant with a 25 - year concession located in tlemcen .
in 2008, amidst intense global competition with international players, the company won an international tender to build africa’s largest swro desalination plant in magtaa, algeria, which would add 500, 000m 3 / day of water supply to the country when fully operational .
executive chairman and group ceo olivia lum made history when she became the first singapore and the first woman to win the prestigious ernst & young world entrepreneur of the year in june 2011 .
in 2014, the company won its largest project in the sultanate of oman – a 200, 000m 3 / day swro desalination plant with a 20 - year concession located in qurayyat .
but founder and chief executive olivia lum would be the first to tell you that this success was hard fought .
“nobody who starts a business anticipates how difficult it will be, ” she said .
“when you start off as a small company you are not well - recognised, because you have no brand and singapore is a mature and competitive market. ”
“singapore customers, when they saw that my office address was not very sexy, in tampines industrial park, they knew that i was a small firm and practically nobody believed in me, ” she said .
“i thought, if i was able to satisfy singapore’s need for water, then i could satisfy any country that needs water. so i looked at the map of the world and asked myself, which region in the world faces a shortage of water ?
“one solution, i thought, was to go to malaysia, because with my singapore address, malaysian customers won’t know how big or small i was. ”
“i didn’t want to venture beyond jb because anything farther than johor meant flying, and airfare is expensive, and you have to consider such things as a start - up, ” she said .
“johor is not a high - end market but at least it gets you going. ”
even then, it was a tough journey. ms lum spent each day making cold calls, travelling up and down the causeway by motorcycle – she had sold her car and house to fund her start - up – and knocked on many doors to sell her water filtration system .
after a few years of doing this, she felt that she had gained enough experience and could grow the company further by venturing into another market .
“i went around the whole of south - east asia and everywhere was just as competitive as singapore, because between 1990 and 1995, most asean countries were booming, so i decided that maybe i should venture farther, ” she said .
ms lum eventually decided on china, reckoning that she could gain a foothold in the market as she could speak the language, and set up an office in shanghai in 1993 .
“it was a very raw market. rules were not transparent in those days, ” she recalled .
“i still remember that every day we had to ask our staff to go to the notice board of the local government bureau to see what the changes were that particular day. new rules or any changes to existing rules were not announced in the newspapers or anywhere else, you had to go to the government offices to find out. ”
despite her language skills, ms lum also came to learn that there was a big cultural divide that made it difficult for her to communicate effectively with her potential customers and to close deals .
“in china, there are meanings hidden behind every sentence. they say things in different ways and they mean different things. in their culture they would also not say no to your face even if they mean no, ” she said .
such difficulties and uncertainties led many businesses to give up on the chinese market in those days, ms lum said .
“we almost bankrupted the company in the first two years of being in china, ” she recounted .
“but i told myself that we just had to persevere, that china was too big to ignore, and since i was already there and had wetted my feet, i might as well soak myself in it and learn how to walk. ”
soon after, in 1997, south - east asia was embroiled in a financial crisis and many water treatment companies in singapore and the region suffered heavy losses or had to be wound up altogether .
“because of the circumstances, the financial crisis that set my competitors back a bit, i took the opportunity to run ahead, ” ms lum said .
“you might have an opportunity, maybe a contact who is bringing in some business for you, but it might not be sustainable, ” she said. are you among the top three firms among your peers in that market? if you are not, how are you going to chart a path to attain that position? because otherwise you will always be a follower and in a crisis you would have to fold. ”
“after 1997, i decided to come back to relook the singapore market after having established myself in shanghai... ”
the answer was the middle east and north africa. not only was this region covered in desert and naturally barren of water, it was also still using energy - intensive technology to clean its water .
“if we can cover china, india, the middle east, africa and south - east asia, we would have covered almost the whole world, ” ms lum quipped .
“you might have an opportunity, maybe a contact who is bringing in some business for you, but it might not be sustainable, ” she said .
“because otherwise you will always be a follower and in a crisis you would have to fold. ”
html public
- / / w3c / / dtd xhtml 1. 0 transitional / / en
urltoken
we believe emerging market fundamentals are much healthier now, when compared to recent years .
global growth trends continue to improve as most major economies are seeing faster than expected expansion .
crude oil prices have rebounded recently, reflecting the renewed optimism about healthier demand in the coming quarters .
taiwan, the east asian island that has close political and economic ties with china, has made a name for itself in the field of global electronics manufacturing .
“there are no difficulties you can’t overcome when you have faced the challenges of hunger and poverty. ”
— olivia lum, while receiving the ernst & young world entrepreneur of the year 2011 award .
but thoughts of such wealth and success must have been far from young olivia lum’s mind when she was growing up in a cramped tin house with a leaking roof and no running water and electricity. she was abandoned at birth and brought up, along with several other orphans, by an old lady in what was little more than a makeshift hut in a small malaysian village .
the leaking roof might have prevented her from sleeping peacefully, but it did not stop her from dreaming big. after her initial primary education, lum was instructed to begin working just like the other orphans. but not one to give up easily, she tried everything from rubber - tapping to selling papayas to pay for her education as well as contribute to the family finances. her perseverance paid off. egged on by her impressed teachers, she graduated with a degree in chemistry from the national university in neighboring singapore, and found a job as a chemist with glaxosmithkline.
hyflux ltd ( hyflux ) is a global environmental solutions company listed on the singapore stock exchange ( sgx ) , with a market capitalisation close to s$ 735.4 million ( as at march 2009 ) , and employs over 1,200 staff in china , india , the middle east and north africa ( mena ) region as well as singapore and southeast asia . the company was founded in 1989 by ms olivia lum , group ceo , president and managing director . in 2006 , the company was given the ' water company of the year ' award , at the ' global water awards ' , by the global water intelligence , uk . 
hyflux ltd (hyflux) is a global environmental solutions company listed on the singapore stock exchange (sgx), with a market capitalisation close to s$ 735.4 million (as at march 2009), and employs over 1,200 staff in china, india, the middle east and north africa (mena) region as well as singapore and southeast asia. the company was founded in 1989 by ms olivia lum, group ceo, president and managing director. in 2006, the company was given the' water company of the year' award, at the' global water awards', by the global water intelligence, uk.
hyflux ltd (hyflux) is a global environmental solutions company listed on the singapore stock exchange (sgx), with a market capitalisation close to s$ 735.4 million (as at march 2009), and employs over 1,200 staff in china, india, the middle east and north africa (mena) region as well as singapore and southeast asia. the company was founded in 1989 by ms olivia lum, group ceo, president and managing director. in 2006, the company was given the' water company of the year' award, at the' global water awards', by the global water intelligence, uk.