Hyflux taking 50% stake in Indonesia's PT Oasis

Singapore

SINGAPORE-LISTED Hyflux is pumping S$50 million into Indonesia-based PT Oasis for a 50 per cent stake in the manufacturer and distributor of bottled drinking water. The proposed acquisition is signed between Hyflux's wholly owned subsidiary Hyflux Consumer Products and the joint-venture partner PT Gunawan Sejahtera.

PT Oasis is a limited liability company with revenues of 700 billion Indonesian rupiah (S$73 million), growing at 36 per cent year over year, Hyflux, said in its announcement.