Dayen expects to be profitable, win contracts in 2010

 @ibtimes on January 13 2010 8:46 AM

Singapore's Dayen Environmental expects to be profitable in 2010, after posting losses for the past four years, and is aiming to win S$300 million of water contracts in Singapore and the region this year.

CEO Alan Yau said in an interview the firm has bid for over S$300 million of contracts and is also studying a S$300-S$500 million project in China, as it sticks to its core business of engineering and servicing water and waste water plants.

The company has gone through a rough patch over the past two years and what we've done is to refocus our strategy, Yau told Reuters on Wednesday. For Dayen now, we will only be doing water and nothing else.

The firm posted a loss of S$5.5 million in its financial year ending September 2009. The firm reviewed its business and internal controls last year after being reprimanded by the stock exchange regulator for a lapse in governance and transparency.

(Reporting by Fabian Ng; Editing by Neil Chatterjee)

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