- Region: Asia
August 20, 2009
- The Japan Bank for International Cooperation (JBIC; President & CEO: Hiroshi Watanabe)*1and Hyflux Ltd. in Singapore signed on August 19 a Memorandum of Understanding (MOU) for global collaboration on water business.
- The objective of the MOU is to explore the possibility of cooperation on the water business between JBIC and Hyflux in the Asia Pacific, the Middle East, and North Africa. Specifically, the MOU sets forth that both parties exchange information and opinions on water projects in which Japanese firms are involved as equipment exporters or investors and for which JBIC can consider possible financing.
- The global water industry is a growing one, as population growth and expanding economic activities are causing water shortages and drawing greater international interest in water issues. Japanese firms are also moving to expand their water business. However, while Japanese firms have advanced technologies among others in water treatment, the overall management of water projects, including their operation and maintenance remains a challenge to them. Hyflux, founded in 1989 as a trading company selling water treatment systems, is engaging today in a wide range of water business internationally, including research on water treatment membranes and the construction and operation of water treatment plants. JBIC has strengthened its support for Japanese firms conducting water business overseas with the JBIC Facility for Asia Cooperation and Environment (FACE)*2 and under the Leading Investment to Future Environment Initiative (LIFE Initiative)*3. Closer cooperative ties with Hyflux are expected to promote Japanese firms' participation in the entire water value-chain.
- JBIC will support the overseas development of water business by Japanese firms through forming stronger partnerships with domestic and foreign firms and organizations related to water business in the world.
Corporate Profile of Hyflux
1. Name: Hyflux Ltd.
2. History and Scope of Business:
Hyflux Ltd. was founded in 1989 by the present Group CEO and President, Ms. Olivia Lum, as Hydrochem (S) Pte Ltd., a trading company selling water treatment systems. In January 2001, Hyflux Ltd. became the first water treatment company to be listed on the Singapore Stock Exchange. Today Hyflux is an internationally-operating integrated water business company, engaging in research on water treatment membranes, and the construction, operation and maintenance of water treatment systems.
3. Headquarters: Hyflux Building, 202 Kallang Bahru, Singapore
4. Total Employees: 1,899 (as of the end of 2008)
5. CEO: Ms. Olivia Lum (Group CEO, President and Managing Director)
- *1 JBIC is the international wing of the Japan Finance Corporation (JFC; Governor: Shosaku Yasui).
- *2 FACE was established in April 2008 as one component of Cool Earth Partnership, a new financial mechanism of the Japanese government for supporting developing countries in addressing climate change. It was announced by the former Prime Minister Yasuo Fukuda in his speech delivered in Davos, Switzerland, in January 2008.
- *3 See Information on March 23, 2009, "Establishing Leading Investment to Future Environment (LIFE) Initiative."