Hyflux

[winston]

Not vested

Shares of wastewater treatment firm Hyflux surged 12.6 percent to S$2.06 by the midday after it said it had been chosen as the preferred bidder for a S$890 million project in the city-state.

Hyflux said on Monday it had been chosen as the preferred bidder to build and run the city state's largest-ever seawater desalination plant. [ID:nL3E7E70M8] "This major contract has significantly improved Hyflux's orderbook visibility for the next three years," Kim Eng Securities said in a report.

The brokerage upgraded Hyflux to buy from sell and raised its target price to S$2.10 from S$1.59.


Source: Reuters

[skookum]

Have been vesting for some time now. Water will be the next big thing in years to come. All of this unrest in Libya has been a good buying opportunity

[winston]

Not vested

Hyflux Q1 net profit +15 pct on higher margins, to focus on China


SINGAPORE May 5 (Reuters) - Singapore water treatment company Hyflux said on Thursday its first quarter net profit rose 15 percent from a year ago due to better cost management that contributed to higher margins.

Source: Reuters

[winston]

Not vested

HYFLUX - Singapore water treatment firm Hyflux said on Thursday its first quarter net profit rose 15 percent to S$7.4 million ($6 million) from a year earlier as lower expenses helped to offset a 14 percent fall in revenue.


Source: Reuters

[winston]

Valuation and recommendation

We are keeping our earnings estimates and target price of S$2.76, still based on sum-of-the-parts valuation.

With prospects of further margin improvements and order-book momentum (particularly in China and O&M segment), we remain upbeat.

We anticipate re-rating catalysts from fresh order wins and opportunities arising from its JV platform in China.


http://www.remisiers.org/cms_images/res ... P_CIMB.pdf

[winston]

Not vested

RESEARCH ALERT- Kim Eng ups Hyflux target to S$2.37

SINGAPORE, July 11 (Reuters) - Kim Eng Securities has raised its target price for Singapore's wastewater treatment firm Hyflux to S$2.37 from S$2.25 and maintained its buy rating.

STATEMENT: Kim Eng has increased its earnings estimates for Hyflux in 2011 and 2012 by 6-10 percent as it expects its S$890 million ($729 million) plant in Singapore, Tuas SingSpring, to start contributing to its earnings this year.

Hyflux's ultra-filtration membrane, Kristal, is currently the top seller in the world and is used in about 40 percent of water desalination globally, Kim Eng said.

The brokerage also added that Hyflux is taking steps to achieve new technological developments and applications in order to combat becoming obsolete and other lower-cost producers.

At 0148 GMT, Hyflux shares were unchanged at S$2.09 but have fallen 9.91 percent since the start of the year.

Source: Reuters

[winston]

not vested

Hyflux's 3Q net profit falls 34% By YEO AIQI

Hyflux Ltd said on Thursday that its net profit for third quarter ended Sept 30, 2011 fell by 34 per cent from a year ago to S$12.61 million, dented by higher staff costs and financing as it gears up for its development of Tuaspring desalination plant.

Revenue fell by 36 per cent to S$87.72 million, from a year ago.

In October, the company declared a tax-exempt (one-tier) dividends to holders of Class A cumulative perpetual preference shares at 6 per cent per annum, paid on 25 October 2011.

Going forward, Singapore and China will continue to be the key drivers for FY2011.

Work is progressing well on the Tuaspring Desalination project in Singapore as well as on-going projects in China.

'We are in another period of uncertainty. As in previous downturns, what is important for businesses is to conserve cash and ensure a sound balance sheet as banks will start to tighten credit and the cost of funding will go up.

Hyflux is in a comfortable position now as we have a strong cash position, very low gearing and a solid order book constituting mainly projects in Asia, in particular Singapore,' said Olivia Lum, group president and CEO, Hyflux Ltd.

Hyflux is one of the world's leading fully-integrated water solutions companies, with operations and projects in Southeast Asia, China, India, the Middle East and North Africa.

Source: Business Times

[winston]

not vested

RESEARCH ALERT-JPMorgan cuts Hyflux target to S$1.60

SINGAPORE, Nov 4 (Reuters) - JPMorgan has lowered its target price on Singapore water treatment firm Hyflux Ltd to S$1.60 from S$1.70 and maintained its neutral rating.

STATEMENT: Hyflux said on Thursday its third-quarter net profit fell 34 percent to S$12.6 million ($9.9 million) from a year earlier, hurt by lower contributions from the Middle East and North Africa.

JPMorgan trimmed its 2011 earnings estimate by 20 percent to account for lower earnings contribution from Hyflux's Tuas desalination plant in Singapore, slower construction pace in China, as well as higher staff and finance costs.

Hyflux management had highlighted that based on the current macroeconomic environment, it does not expect to make major new investments over the next 1-2 years, which will require it to commit significant additional capital, JPMorgan added.

At 0322 GMT, Hyflux shares were up 0.7 percent at S$1.415.


Source: Reuters

[winston]

not vested

Hyflux – Selldown overdone, recent developments are positive.

Reiterate Buy with 42% upside to TP of S$1.78.

Hyflux has been heavily sold down on :-
1) Two quarters of earnings disappointment as Hyflux transit out of MENA project;
2) Worries that Hyflux is unable to secure funding for the power plant at TuaSpring and;
3) Lack of contract newsflow in the last 9 months, is overdone.

The stock is poised for a recovery on :-
1) Earnings rebound,
2) Resumption of contract flow and
3) Show of funding ability.

Although the stock is up over 20% in the last week, and off its 52 week lows, it is currently still only priced at close to global financial crisis levels.

Given that the company’s positive outlook remains unchanged, we feel it is attractively valued and a good bargain for medium term investors.

Reiterate Buy with 42% upside to TP of S$1.78.

Source: DBS

[winston]

not vested

Singapore's Hyflux said its unit and its Japanese partners, Hitachi Ltd and Itochu Corp, had agreed to develop Asia's largest seawater desalination plant in Gujarat, India.

The total cost of the project is estimated to be around $600 million, Hyflux said.


Source: Reuters