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S$133.5m Moya rights issue to fund new concessions

Singapore-listed project developer Moya Holdings Asia, which is controlled by Indonesian billionaire Anthoni Salim through Tamaris Infrastructure, has announced plans for a rights issue to raise up to S$133.5 million (US$99 million).

Under the deal, which will see one new share offered for every two existing ordinary shares, Tamaris has irrevocably undertaken to...

UK water utility results season off to a solid start

The two largest publicly listed UK water utilities this week reported solid – if unspectacular – financial results for 2017/18.

Severn Trent’s underlying profit before interest and tax rose by 4% to £541 million from £521.1 million in 2016/17, on revenues that were up 3.4% from £1,638 million to £1,694 million.

The...

Moody’s fires new warning shot over Ofwat proposals

Ofwat’s plans for the next price review will undermine a regulatory regime that has governed the UK water industry since its privatisation in 1989, Moody’s warned this week.

As well as slashing allowed company returns, Ofwat is proposing to claw back any financial benefits that accrue from highly leveraged capital structures. Moody’s maintains that...

M Group Services finds a new private equity owner

UK-based infrastructure services provider M Group Services is set to switch private equity owners, after First Reserve agreed last Friday to sell the company to PAI Partners, subject to European antitrust approval.

M Group Services evolved out of Morrison Utility Services, which was bought by First Reserve in September 2016 for £76 million. Since then, it has...

Jordan signs deal for inter-utility water transfers

Jordan’s three water utilities have agreed to allow transfers of potable water between them as they look to take a more flexible approach to water supply in the face of the shortages hitting the country.

Yarmouk Water Company, Aqaba Water Company and Miyahuna signed a memorandum of understanding on Saturday that will allow them to transfer water between their...

Hassan Allam scoops up Egyptian water contracts

Egyptian construction giant Hassan Allam has picked up a trio of sizeable domestic water references in recent weeks, as the company looks to raise its profile and establish an investment and asset ownership wing in the sector.

Yesterday, the company announced the award of a 33,000m3/d rural wastewater treatment plant and 85km collection network in the Sharqia...