Memiontec Holdings Ltd. announced that the Group has secured approximately SGD 13 million of new contracts in Indonesia and Singapore ("New Contracts"). The Group secured approximately SGD 10 million in new contracts in Indonesia, primarily in total solutions with engineering, procurement and construction ("TSEPC") projects. In addition, the Group secured a contract (with an approximate value of SGD 3.6 million) for the replacement of membranes at the Kranji NEWater Factory in Singapore.

As at 16 December 2022, including the New Contracts, the Group's order book is approximately SGD 113 million, most of which is expected to be undertaken over the next two years. Subject to any unforeseen, unexpected or unplanned circumstances or events, the Board expects the New Contracts to contribute positively both the Group's financial results as well as to its net tangible assets per share and earnings per share for the duration of the New Contracts. None of the directors or substantial shareholders of the Company and their respective associates has any interest, direct or indirect, in the new contracts, save for their respective shareholdings in the Company (if any).

While the Group continue to build a growing recurring income base via Build-own-operate- transfer (BOOT) water projects in Indonesia, it is also proactively targeting new projects to increase its order book within existing and new markets. The Group has identified Vietnam as a potential new market for expansion in South East Asia. On 27 October 2022, the Group incorporated a wholly-owned subsidiary in Vietnam, Memiontec Company Limited, to expand its business presence in the country.

As set out in "Indonesia Vision 2045: Toward Water Security" Indonesia is pursuing an ambitious target to transform the country, the largest economy in Southeast Asia, into the fifth largest economy in the world. In order to achieve this goal, the archipelagic state ­ one of the most populous countries in the world ­ will have to achieve greater water security.1 Water demand is continuing to grow significantly given the demographic and economic developments in Indonesia and is expected to increase by 31 percent between 2015 and 2045. By 2045, 31 river basins, out of 128, are expected to face a water supply-demand deficit.

More than half of Indonesia's rivers are heavily polluted, and two of the country's major river systems are among the most polluted in the world. With Indonesia's economic development, pollutants, such as chemicals and heavy metals, are on the rise in addition to sanitation and agriculture- related pollution.1 Consequently Indonesia continues to be a key growth market for Memiontec and the Group has built up a growing team of water solutions professionals in the country since 2004. With some 20 years of experience in Indonesia, Memiontec has developed strong working relationships with both public and private sector customers domestically such as PDAM (national water agency of Indonesia), PT Jakpro (Jakarta state-owned infrastructure developer), PT PP, PT Abipraya Brantas, Sinarmas, Lippo and others etc.