KONTAN.CO.ID - JAKARTA. A number of large companies continue to enter the clean water business. Recently the Salim Group together with the Medco Group took over 60% of the shares of Hyflux Ltd, a Singapore company that conducts energy and clean water business. SM Investments Pte Ltd, Salim Group and Medco consortium disburse S $ 560 million to control Hyflux. Among the total funds, S $ 400 million was used to acquire 60% of Hyflux shares, S $ 130 million as a loan to Hyflux and S $ 30 million will be used as Hyflux's working capital. Last year Hyflux earned revenues of S $ 353.63 million, down 57.43% compared to 2016. With the acquisition of Hyflux, the Salim Group and Medco want to develop and optimize the clean water business, waste management and Hyflux power plants. Besides Singapore, Hyflux has projects in a number of Asia Pacific and Middle East countries. Most of Hyflux's revenue comes from its business in Singapore.
Large companies enter the clean water business
KONTAN.CO.ID - JAKARTA. A number of large companies continue to enter the clean water business. Recently the Salim Group together with the Medco Group took over 60% of the shares of Hyflux Ltd, a Singapore company that conducts energy and clean water business. SM Investments Pte Ltd, Salim Group and Medco consortium disburse S $ 560 million to control Hyflux. Among the total funds, S $ 400 million was used to acquire 60% of Hyflux shares, S $ 130 million as a loan to Hyflux and S $ 30 million will be used as Hyflux's working capital. Last year Hyflux earned revenues of S $ 353.63 million, down 57.43% compared to 2016. With the acquisition of Hyflux, the Salim Group and Medco want to develop and optimize the clean water business, waste management and Hyflux power plants. Besides Singapore, Hyflux has projects in a number of Asia Pacific and Middle East countries. Most of Hyflux's revenue comes from its business in Singapore.