Mon, Sep 14, 2020 – 9:39 AM
INDONESIAN water treatment company Moya Holdings Asia on Sunday said its subsidiary, Moya Indonesia, has been awarded a project put up for tender by Badan Pengusahaan Batam (BP Batam), or the Batam Free Trade Zone and Free Port Authority.
BP Batam is an Indonesian government agency. It intends to work with a private water treatment firm to manage on its behalf, the operation and maintenance of a water supply system in Batam for a transition period of six months starting Nov 15.
This is to maintain a continuous water supply system in Batam after the expiry of the existing concession, Moya noted.
Moya Indonesia expects to sign a cooperation agreement with BP Batam by Sept 15.
According to Moya, the project is not expected to have any material impact on the group’s net tangible assets per share and earnings per share for the current financial year ending Dec 31.
The water supply system in Batam has around 290,000 customers with six water treatment plants, Moya said.
As at 9.13am on Monday, the counter was trading at 6.5 Singapore cents, up 0.2 cent or 3.1 per cent.