[SINGAPORE] Water treatment company Beijing Enterprises Water Group (BEWG) opened its international headquarters in Singapore yesterday, with its new BEWG International HQ set to manage overseas investments of about $2 billion in the next five years.
Located at Suntec Tower Two, it will also oversee BEWG's current overseas operations in four markets - Portugal, Malaysia, Indonesia and Taiwan.
The inauguration of the group's international HQ here was held in conjunction with the first day of the Singapore International Water Week.
As for BEWG's plans in Singapore, executive director and vice-president Li Haifeng said the company would focus firstly on Public Utilities Board (PUB) projects. While BEWG currently has no projects here, it took part in a tender last December to build the second Newater plant at Changi. Results will be announced by year-end, and should the company win the bid, Mr Li expects to pump in about $200 million for the project.
BEWG is also looking to grow through mergers and acquisitions with Singapore-listed companies. Singapore will be a platform for overseas expansion, said Mr Li. There are plans to participate in tenders in mature markets such as London and Australia, as well as further expansion in Malaysia and Indonesia, which have large populations.
Out of over 300 plants globally, BEWG has less than 10 plants outside China. While revenue contributed by its overseas businesses is small, BEWG's chief executive officer Hu Xiaoyong expects this to increase steadily.
Said Singapore Economic Development Board's assistant managing director Lim Kok Kiang: "Water companies can leverage Singapore's strengths in innovation and commercialization, high-skilled workforce, as well as our sophisticated financial market to build up critical capabilities and address global markets."