SINGAPORE (April 30): Water company Moya Holdings Asia reported 1Q18 earnings surged more than sixfold to S$8.8 million, from S$1.3 million a year ago, after finance income under service concession arrangements in 1Q17 was reclassified as revenue.
Revenue nearly quadrupled to S$45.1 million from S$12.2 million, mainly due to the inclusion of water sales of S$31.3 million contributed by the Acuatico Group, which is in the business of developing and operating water treatment facilities and associated distribution pipelines for the distribution of clean water in Indonesia.
Moya says it is pleased with its progress in the post-merger integration of Acuatico and is focusing on the execution of its two concession arrangements and...(click on link for full story on theedgesingapore.com)