YTL Power advances on S’pore water bid shortlist

Clean water: A water-recycling plant in Singapore. Desalinated water is Singapore’s fourth water source, besides water from local catchments, imported water from Johor and NEWater (high-grade reclaimed water). — Bloomberg

SHARES of YTL Power International Bhd tracked higher on the back of positive news that the group has been shortlisted to bid for Singapore’s fifth water desalination plant that could benefit it in terms of attractive returns and a lower risk venture if the company wins the bid.

YTL Power shares gained more than 2% following the news that it was among the four shortlisted for the bid. The company is currently trading near its highest level so far this year at RM1.48.