Under the Contract, the Group will install membrane bioreactor equipment which has a treatment capacity of 22 million gallons per day for the Changi Water Reclamation Plant Phase 2, Contract C22C. The works under the Contract are scheduled to commence in May 2022 and the contract duration is estimated to be around 23 months.
Subject to any unforeseen, unexpected or unplanned circumstances or events, the Board expects the Contract to contribute positively both to the Group's financial results for the duration of the Contract as well as to its net tangible assets per share and earnings per share for the current financial year ending 31 December 2022.
Memiontec's Executive Director and CEO, Mr Tay Kiat Seng, said, "Securing this Contract from PUB is a significant achievement for Memiontec, both in terms of its contract value and technical complexity.
The Contract replaces the recently completed project for the complete replacement of a membrane filtration system at Tuas South Desalination Plant (the largest desalination plant in South East Asia), which has a contract value of S$33.2 Million, as the largest single contract secured by the Group to date.
Singapore has been one of our key markets for more than 20 years and securing this Contract is a reflection of both our commitment and our technical capabilities as a one-stop total solutions water treatment company.
We are committed in continually supporting PUB in their efforts to enhance and develop Singapore's water infrastructure and capabilities."
This press release is to be read in conjunction with Memiontec's announcement released on 24 March 2022 in relation to the Contract, which can be downloaded via www.sgx.com and http://memiontec.com/announcements/.
About Memiontec Holdings Ltd.
(Bloomberg Code: MHL:SP / SGX Code: SYM.SI)
Memiontec Holdings Ltd. ("Memiontec" or the "Company", and together with its subsidiaries, the "Group") is a Singapore-based one-stop total solutions water treatment company with over 20 years of experience in water and wastewater management services across Singapore, Indonesia and the PRC.
With a synergistic business model that encompasses the entire value chain in the water industry, the Group has 4 key business segments as follows:
- Total Solutions Engineering Procurement Construction services ("TSEPC");
- Operation, maintenance and service of water and wastewater treatment plants ("OMS");
- Sales and distribution of water treatment systems and trading ("SDS & Trading"); and
- Sales of water ("SOW") through transfer-own-operate-transfer ("TOOT") and build-own- operate-transfer ("BOOT") projects, which involve partnerships or joint ventures with public or private entities, for recurring income.
Through the use of membrane, ion exchange, physical, chemical and biological processes and leveraging its in-house design, engineering, fabrication and assembly capabilities, Memiontec develops reliable, compact, cost-effective, innovative and space-efficient customised water and wastewater treatment solutions across the entire value chain in the water industry.
Serving both municipalities and diverse industries in Asia as a one-stop total solution water treatment company for more than 20 years, Memiontec has developed strong working relationships with both public and private sector customers in the region such as the Public Utilities Board (PUB), Obayashi Singapore, Pokka Corporation Singapore, Petrochemical Corporation of Singapore, PDAM (national water agency of Indonesia), PT Jakpro (Jakarta state- owned infrastructure developer), PT PP, PT Abipraya Brantas, Sinarmas, Lippo, etc.
For more information, please visit http://memiontec.com/
Issued on behalf of Memiontec Holdings Ltd. by 8PR Asia Pte Ltd.
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