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SINGAPORE : Hyflux Water Trust said it will distribute 3.5 Singapore cents per unit for the first nine months of its fiscal year. That is 72 per cent of HWT's full year forecast of 4.88 cents.
Its distributable income for the third quarter came to S$2.7 million, comparable to the previous three months.
HWT announced earlier that it had entered into agreements with Spring China Utility and Hyflux to buy five water-related infrastructure assets in China.
HWT said it expects to complete the acquisition in two tranches. It will buy four assets by the end of this year and another by June 2009.
Looking ahead, the trust said the current economic and financial conditions may adversely impact the performance of its portfolio given the slowdown in some industrial activities.
But it said that guaranteed tariffs payable for a minimum treatment volume at some of its plants as well as tariff increases may provide some revenue and margin protection.
Overall, HWT said the medium to long-term outlook for the global water sector, especially in China, remains strong. - CNA /ls
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