SINGAPORE (Nov 3): NRA Capital is confident Moya Holdings Asia will continue to have a leadership position in the Indonesia water industry which it can leverage on to obtain more projects.
Moya’s share price recently corrected from $0.118 on Oct 12 to a low of $0.098 on Oct 24. Currently it trades at $0.103. The trigger appears to be an Indonesian supreme court decision that apparently ordered the government to restore public water services to residents in Jakarta. Media reports suggested that private sector suppliers have failed to provide the city’s poor with access to water.
Moya is one of the leading private players in Indonesia’s water treatment industry with a total water treatment capacity of 13,935 litres per second. In June, it had completed the acquisition of Acuatico whose subsidiaries are in the business of clean water supply to parts of Jakarta.
