Hyflux

Re: Hyflux

Postby winston » Mon Jan 14, 2013 8:47 am

not vested

Singapore water services company Hyflux said its consortium had sealed a water purchase agreement to deliver desalinated water to Dahej Special Economic Zone in Gujarat, India.

Hyflux expects to take on around $420 million of the project value, the company said.


Source: Reuters
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Re: Hyflux

Postby winston » Sun Feb 23, 2014 9:02 pm

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Downgrade to SELL for now

Given the disappointing results and a slower FY14 start, we believe that investors may want to switch out of Hyflux first, hence we downgrade our rating from Hold to SELL.

Our fair value also drops from S$1.23 to S$0.84, even as we push out our 20x valuation from FY14F to blended FY14/FY15F EPS.


Source: OCBC
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Re: Hyflux

Postby winston » Thu Jun 26, 2014 10:45 am

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Hyflux and Mexico’s leading infrastructure bank, Banco Interacciones, a subsidiary of Grupo Financiero Interacciones, have signed a memorandum of understanding (MOU) to jointly carry out exploration, structuring, pursuit and/ or installation of water and other
projects and developments in Mexico.

Source: DBS
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Re: Hyflux

Postby winston » Sat Jun 28, 2014 3:47 pm

Singapore “Flyer” of the Week: Hyflux By Sudhan P

Hyflux (SGX: 600) gained 3.5% this week to close at $1.195. This makes it our Singapore “Flyer” of the Week.

Hyflux is a fully-integrated water solutions company with operations worldwide. It built the world’s largest seawater reverse osmosis desalination plant in Algeria in 2008 and the largest membrane-based seawater desalination facility in Singapore in 2013.

On 25 June 2014, the firm announced that it has signed a memorandum of understanding with Mexico’s leading infrastructure bank, Banco Interacciones, to “jointly carry out exploration, structuring, pursuit and/ or installation of water and other projects and developments in Mexico”.

The following day, Hyflux then agreed to a sale-and lease-back deal with Ascendas Real Estate Investment Trust (SGX: A17U). Under the deal’s terms, Hyflux would sell its property, Hyflux Innovation Centre, for S$170 million to Ascendas REIT and lease-back said property for a period of 15 years.

The rationale for the move is to free up capital for Hyflux to acquire new technology; to make investments in research and development; to expand and automate its membrane manufacturing operations in Tuas Hub with the aim of upping productivity; and lastly, to finance its infrastructure project tenders.

Olivia Lum, the Executive Chairman and Chief Executive Officer of Hyflux, said, “The sale and lease-back transaction is part of our capital recycling strategy to enhance the efficiency of our balance sheet and to redeploy capital for strategic investments. Hyflux Innovation Centre will continue to be the nerve centre of our global operations and we intend to remain at Hyflux Innovation Centre for the long-term.”

The water solutions outfit is trading at 49 times its historical earnings now.

Source: Motley Fool
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Re: Hyflux

Postby winston » Mon Jun 30, 2014 2:10 pm

Hyflux: FY14 likely to remain slow – maintain SELL
May 9, 2014

Hyflux Ltd made a poor start to FY14, with revenue tumbling 29% YoY to S$88.3m, meeting just 14% of our full-year forecast.

Reported net profit came in at S$37.9m, boosted by one-off divestment gain of S$54.1m; excluding that and other exceptional items, Hyflux would have reported a net loss of S$7.2m (versus a core net profit of S$7.5m in 1Q13).

With the financial close of the Dahej project in India being delayed further from 1H14 to before end-2014, Hyflux could be looking at a pretty slow FY14 indeed.

While the company continues to be actively bidding for new projects in MENA, India and Singapore, we note that the risk of delays to financial close remains.

As such, we maintain our SELL rating with a lower S$0.83 fair value (versus S$1.00 previously), still based on 20x blended FY14/FY15F EPS.

Source: OCBC
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Re: Hyflux

Postby winston » Tue Jul 01, 2014 7:41 am

Hyflux ST: short term rebound towards 1.26 <HYFL.SI>

Click here to see our chart: http://www.tradingcentral.com/chart/HYF ... 004728.gif

Our pivot point is at 1.15.

Our preference: short term rebound towards 1.26.

Alternative scenario: the downside breakout of 1.15 would call for 1.12 and1.1.

Comment: the RSI is below its neutrality area at 50. The MACD is negative andabove its signal line. The configuration is negative. Moreover, the sharestands below its 20 and 50 day MA (respectively at 1.18 and 1.19).

Hyflux is currently trading near its 52 week low at 1.13 reached on 20/12/13.

Supports and resistances: 1.3 **1.28 *1.26 **1.24 1.18 last 1.17 1.15 **1.12 *1.1 **

Source: TRADING CENTRAL
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Re: Hyflux

Postby winston » Wed Jan 07, 2015 7:55 pm

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Hyflux: Awarded US$250m Oman project

Hyflux Ltd had on 19 Dec 2014 received a letter of award (LOA) to design, build, own and operate an independent water project (IWP) in Qurayyat, Oman, for an estimated US$250m.

The EPC portion of the project is worth about US$210m, while the O&M bit is worth about US$40m.

However, Hyflux did not give a start date for the construction, as the award is still contingent upon satisfying certain conditions precedent (but these are not mentioned in the announcement).

As such, the company does not expect the project to have a material impact on its FY14 results.

We believe the bulk of the contract value is likely to be recognized in FY16. Although share price has recovered 19% from a recent intra-day low of S$0.71, we see limited upside from here, given a likely slow 4Q14 showing (and possibly even 1Q15).

Hence we maintain our SELL rating and S$0.75 DCF-based fair value for now.

Source: OCBC
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Re: Hyflux

Postby winston » Fri May 15, 2015 10:07 am

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Hyflux: Patience needed until 2H15

Hyflux Ltd made a weaker-than-expected start to FY15, even though the first quarter is seasonally softer.

Revenue tumbled 32% YoY to S$60.4m, while reported net profit slipped 85% to S$5.6m; mainly due to the divestment of its JV and associate with Marmon Water LLC group in 1Q14, but mitigated by a divestment gain of S$15.8m.

Otherwise, we estimate that the company would have suffered a core net loss of around S$20.3m, versus a core net loss of S$6.7m in 1Q14.

Going forward, company expects to see increased operational activities in the second half; this suggesting the group could face another pretty lackluster quarter ahead.

Although we are maintaining our HOLD rating and S$0.96 fair value, investors may consider booking some profit (stock has risen some 20% since we upgraded it in early Mar and has hit our fair value target on 30 Apr) and re-entering at S$0.80 or better between now and 2H15.

Source: OCBC
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Re: Hyflux

Postby behappyalways » Fri Aug 14, 2015 9:39 am

One-off gains distort Hyflux's ailing core profit
http://sbr.com.sg/utilities/more-news/o ... ore-profit
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Re: Hyflux

Postby behappyalways » Sat Sep 19, 2015 3:29 pm

Hyflux’s dwindling order book gets massive boost from $750m waste-to-energy deal
http://sbr.com.sg/energy-offshore/news/ ... nergy-deal
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