(1)          Commencement of the Sale of Water from the BOOT project at Pekan Baru, Riau, Indonesia

(2)          Updates on BOOT project at Hutan Kota, North Jakarta, Indonesia

-          The Group’s latest Build-Own-Operate-Transfer (“BOOT”) project at Pekan Baru, Riau, has commenced the sale of water

-          BOOT project in Hutan Kota, North Jakarta is producing and selling water at its design capacity of 450 LPS under Phase 2 of the BOOT project

-          As at 30 November 2021, the Group’s order book stood at S$84 million

Singapore, 10 January 2022 – Memiontec Holdings Ltd. (“Memiontec” or “明泰控股” or the “Company”, and together with its subsidiaries, the “Group”), a total water solutions specialist in Asia, is pleased to provide updates on the following matters:

1. Commencement of the Sale of Water from the Group’s BOOT project in Pekan Baru, Riau, Indonesia (“Pekan Baru BOOT Project”)

On 3 November 2020 and 17 December 2020, the Company announced the win of a tender for the Pekan Baru BOOT Project by a consortium of companies comprising amongst others, PT Memiontec Indonesia (“PT MI”) (a subsidiary of the Company), and the incorporation of a joint venture company, PT PP Tirta Madani (“PT PPTM”) in Indonesia, for purposes of undertaking the Pekan Baru BOOT Project. The Company, through its interest in PT MI, holds a 15% stake in PT PPTM. The Pekan Baru BOOT Project relates to the supply of a drinking water treatment plant in Pekan Baru, Riau, Indonesia with total design capacity of 750 litres per second (“LPS”).

The Pekan Baru BOOT Project has commenced the production and sale of treated water at 200 LPS, which will be sold to customers located in the nearby vicinity via Perusahaan Daerah Air Minum (“PDAM”). Concurrently, the Company is carrying out the construction work for the Pekan Baru BOOT Project, which involves the rehabilitation and upgrading of the existing water treatment facility. Upon completion of the construction work, the output capacity of the Pekan Baru BOOT Project will increase from an existing volume of 200 LPS to 500 LPS. Another new water treatment facility under the Pekan Baru BOOT Project with an output capacity of 250 LPS will be constructed and it is expected to be completed in 2026.

For more information of the Pekan Baru BOOT Project, please refer to the Company’s announcements dated 3 November 2020 and 17 December 2020.

2. Updates on BOOT project in Hutan Kota, North Jakarta, Indonesia (“Hutan Kota BOOT Project”)

The Group is also pleased to update that the Hutan Kota BOOT Project (where commercial operations has commenced since December 2019) has entered into Phase 2 production, and it is currently producing and selling water at its 100% design capacity of 450 LPS. This represents an increase from production and sale of water at its 70% design capacity in the first half of 2021. For more information of the Hutan Kota BOOT Project, please refer to the section entitled “General Information of our Group” of the Company’s offer document dated 21 February 2020.

In total, the Group has amassed three asset ownership projects in Indonesia, which allows the Group to sell water for up to 25 years. Barring unforeseen circumstances, these projects generate steady recurring income to the Group, while providing clean water access to the communities it serves.

The abovementioned business updates in relation to the BOOT projects are not expected to have a material impact on the Group’s consolidated net tangible assets per share and earnings per share for the financial year ending 31 December 2022.

The Group’s order book as at 30 November 2021 was S$84 million.

Memiontec’s Executive Director and Chief Executive Officer, Mr Tay Kiat Seng (郑吉成), said, “Working in close collaboration with our consortium partners, we have navigated the challenges of the COVID-19 pandemic to commence the sale of water as planned.

Memiontec has built a strong track record of water treatment solutions and execution in Indonesia. As the Indonesia government aims to achieve universal access to safe water in urban areas, we are actively working to build on this momentum to offer more innovative and cost-effective water solutions within Southeast Asia’s largest economy.”

The Group has a proven track record of more than 20 years with an established and diverse customer base in various industries. The Group has secured many public tenders and has successfully completed large-scale municipal and industrial projects for government agencies and multinational corporations, in Singapore, Indonesia and the region.

With a synergistic business model that encompasses the entire water cycle value chain in the water industry, the Group holds respective licences such as the BCA ME11 Grade L6 (right to participate in public tenders with unlimited tendering limit) in Singapore and it continues to proactively pursue new public tenders in Singapore. The Group also has obtained the B1 and B2 construction licences in Indonesia (highest tier and right to participate in public and private tenders with unlimited tendering limit).

In addition, the Group holds the ISO certification as a testament to its commitment to providing consistent quality services.

Note: The Company’s announcements regarding updates as announced from time to time on the SGXNet are not exhaustive as the Group continues to execute contracts secured, which may be of various values, in the ordinary course of the Group’s business.

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About Memiontec Holdings Ltd

(Bloomberg Code: MHL:SP / SGX Code: SYM.SI)

Memiontec Holdings Ltd (“Memiontec” or “the Company”, and together with its subsidiaries, “the Group”) is a Singapore-based one-stop total solution water treatment company with over 20 years of experience in water and wastewater management services across Singapore, Indonesia and the PRC.

Through the use of membrane, ion exchange, physical, chemical and biological processes and leveraging its in-house design, engineering, fabrication and assembly capabilities, Memiontec develops reliable, compact, cost-effective, innovative and space-efficient customised water and wastewater treatment solutions across the entire value chain in the water industry.

Serving both municipalities and varied industries in Asia, the Group has developed strong working relationships with both public and private sector customers in the region such as the Public Utilities Board (“PUB”), Obayashi Singapore, Pokka Corporation Singapore, Petrochemical Corporation of Singapore, PDAM (national water agency of Indonesia), PT Jakpro (Jakarta state-owned infrastructure developer), McConnell Dowell, PT PP, PT Abipraya Brantas, Sinarmas, Lippo, etc.

For more information, please visit http://memiontec.com/

Issued on behalf of Memiontec Holdings Ltd. by 8PR Asia Pte Ltd.

 Media & Investor Contacts:

Mr. Alex TAN

Mobile: +65 9451 5252

Email: alex.tan@8prasia.com

MEMIONTEC HOLDINGS LTD.

(Company Registration No. 201305845W)

(Incorporated in the Republic of Singapore)

This press release has been prepared by Memiontec Holdings Ltd. (the “Company”) and its contents have been reviewed by the Company’s sponsor, ZICO Capital Pte. Ltd. (the “Sponsor”), in accordance with Rule 226(2)(b) of the Singapore Exchange Securities Trading Limited (“SGX-ST”) Listing Manual Section B: Rules of Catalist.

This press release has not been examined or approved by the SGX-ST and SGX-ST assumes no responsibility for the contents of this press release, including the correctness of any of the statements or opinions made or reports contained in this press release.

The contact person for the Sponsor is Ms Goh Mei Xian, Associate Director, ZICO Capital Pte. Ltd. at 8 Robinson Road #09-00 ASO Building, Singapore 048544, telephone (65) 6636 4201.