Memiontec Holdings bags three contracts worth S$17.8m

CATALIST-LISTED water-treatment company Memiontec Holdings has bagged three new contracts worth about S$17.8 million in all, the board has said.

These transactions take the group's order book to S$65.0 million as at Friday.

As construction works will be carried out progressively, the board said that it expects the contracts to boost Memiontec's group revenue from 2020 until 2022, including a positive impact on earnings per share for the 12 months to Dec 31, 2020.

The latest contracts include deals with new customers in Indonesia: building and running a centralised wastewater-treatment plant in Palembang, and providing engineering and construction services to a water operator in Jakarta.

"The group shall continue to focus on the increasing demand for water and waste-treatment services in Indonesia's municipal sectors," the board added.

Indonesia and Singapore are the group's main operating markets. Memiontec has also won a tender to supply membrane modules for a NEWater plant in Singapore, the announcement disclosed.

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Shares closed up by S$0.01, or 4.88 per cent, at S$0.215, before the announcement.