SINGAPORE (Feb 7): Hyflux is partnering the Singapore Economic Development Board (EDB) to diversify from the traditional infrastructure business as well as bolster its global competitiveness via the means of investments across three fronts.   

These comprise making investments to improve manufacturing productivity; commercialise next-generation membrane technologies; and diversify from its traditional infrastructure business, says the local membrane maker in a Tuesday filing to the SGX.

Specifically, the company has invested over S$30 million in a new fully-integrated plant and automated steel structure fabrication processing line at its Tuas manufacturing plant. The company expects its investment in robotics and automation to enhance its operational productivity by 25%, improve the skill profile of employees, as well as reduce reliance on foreign labour.

Additionally, Hyflux today signed a memorandum of understanding (MoU) with NTU Singapore’s Nanyang Environment and Water Research Institute (NEWRI) to commercialise aquaporin-based biomimetric membranes and novel nanofiltration applications.

According to Hyflux, the deal is aligned with the priorities of Singapore’s Research, Innovation and Enterprise (RIE) 2020 funding to leverage even more public-private partnerships to commercialise new technologies.

Lastly, the company says it intends to launch its flagship ELO Lab at 38C Belvedere Close in the Tanglin precinct in 3Q17. The new large-scale facility will feature 50 individual private suites offering ELO Water therapy sessions which are similar to the oxygen-rich bath therapies provided at Hyflux’s first commercial ELO Lab that opened at City Square Mall in Sept 2016.  

“We are delighted to support Hyflux’s investments to increase the productivity of its manufacturing operations, develop next-generation membrane technologies and to diversify into its ELO Water business,” comments EDB Chairman Beh Swan Gin.

Beh believes the recent projects are “very much in line” with how EDB intends to work with Large Local Enterprises (LLEs) to enhance their long term competitiveness, and also grow through the creation of new businesses.

“We are grateful for the support and opportunities extended to Hyflux across multiple fronts by the Singapore government. Hyflux has come a long way since it was founded in 1989 and will continue to invest and build new capabilities in Singapore, even as we continue to fly the Singapore flag in our overseas operations,” adds Hyflux’s executive chairman and group CEO, Olivia Lum.

Moving forward, the company says it will continue investing in research and development (R&D) to develop new applications for the ELO business line.

As at 12:30pm, shares of Hyflux are trading 1.9% higher at 54 Singapore cents.