Hyflux sells Jiangsu wastewater treatment plant to China state-owned firm

HYFLUX on Monday said it has inked a deal to sell its entire stake in its wholly owned subsidiary Hyflux Newspring (Nantong) WWTP to Jiangsu Yangkou Port for about 52 million yuan (S$11 million).

Nantong WWTP holds a wastewater treatment plant in Yangkou Port, Jiangsu province; Jiangsu Yangkou Port is a state-owned company.

Nantong WWTP has been classified as held for sale since the last financial year end. The transaction will not have a material financial impact to the group for FY16, it said.