The group’s latest revenue figures excludes the Tuaspring Integrated Water and Power Project, which registered a net loss of $81.9 million over the year with Singapore wholesale electricity prices clearing at levels below fuel costs.
SINGAPORE (Feb 27): Water solutions provider Hyflux has announced a FY17 loss of $116.4 million compared to $3.8 million in earnings posted for FY16, citing continued weak electricity prices across the Singapore power market.
Revenue fell by more than half to $353.6 million in FY17 from the group’s restated revenue of $830.6 million in the previous year due to lower contributions from engineering, procurement and construction (EPC) activities, in line with the respective construction phases of the group’s major projects in Oman and Singapore.
