PUB is expected to unveil the winner of a $400-500m tender for the construction of Singapore's fourth desalination plant. The six contenders are SGX-listed Hyflux, United Engineers, Sembcorp Industries and Keppel Corp, as well as China-linked MCC Land and Spain's Tedagua.
http://asia.nikkei.com/Business/Companies/Singapore-looks-to-build-fourth-desalination-plant
Technically, Hyflux has bottomed from the support at $0.470 with high volume for the past two trading sessions.
From the chart, it seems to have more upside opportunity than downside.
Current technical resistance is at $0.500 and next resistance at $0.510. The major resistance is at $0.520.
Technical support is at $0.495 and $0.485.
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