Water treatment company Memiontec Holdings has reported that revenue for 1HFY2021 increased by 86.1% y-o-y to $26.9 million. Earnings for the same period increased by 2,305% from $0.02 million to $0.48 million.
Its order book, as at June 30 2021, was $81.6 million with almost half of the contracts from Indonesia, where the company is well established.
Going forward, the company is looking for more public sector tenders up for grabs across the region, which are sought after because of the low credit risk.
“The growing demand for water in Asia has created strong prospects for the future and the Group has made further progress with new contracts secured during the first half of the year,” says executive director and CEO Tay Kiat Seng.
His other key focus is to grow the recurring revenue stream with more projects that Memiontec will operate as well and not just build.
Memiontech shares closed at 26 cents, up 8.33% for the day, and up 23.81% year to date.
