Hyflux continued to set new benchmarks in 2011. The Group showed its mettle by securing Singapore’s second and largest seawater desalination project amidst very tough competition and surprising the industry with an innovative proposal to incorporate an on-site 411 MW combined cycle power plant to produce electricity for the desalination plant and power grid. The shared facilities of the desalination plant and the power plant would create synergies between the two operations and lead to higher levels of efficiency, thus lowering the cost of desalination. The integration of a water project with a power plant was the first for Singapore and for Hyflux.
Hyflux successfully raised S$400 million through a 6% Cumulative, Non-Convertible, Non-Voting Perpetual Class A Preference Shares issue, the first corporate in Singapore to launch such an issue.
Executive Chairman and Group CEO Olivia Lum made history when she became the first Singapore and the first woman to win the prestigious Ernst & Young World Entrepreneur of the Year in June 2011.