Memiontec Holdings Ltd. announced that the Group has been awarded a SGD 56.6 million contract by the Public Utilities Board ("PUB"), Singapore's National Water Agency. Under the Contract, the Group will install membrane bioreactor equipment which has a treatment capacity of 22 million gallons per day for the Changi Water Reclamation Plant Phase 2, Contract C22C. The works under the Contract are scheduled to commence in May 2022 and the contract duration is estimated to be around 23 months.

Subject to any unforeseen, unexpected or unplanned circumstances or events, the Board expects the Contract to contribute positively both to the Group's financial results for the duration of the Contract as well as to its net tangible assets per share and earnings per share for the current financial year ending 31 December 2022.