Hyflux, which designs treatment systems for water purification, said SEPCOIII Electric Power Construction Corp has been ordered to pay its unit, Hydrochem, US$16.1 million following an arbitration dispute.
The order was issued by the tribunal on August 31.
The arbitration was commenced by Hydrochem against SEPCOIII in relation to disputes arising out of an engineering and procurement contract for the development of certain desalination units in Salalah, Oman.
The tribunal will separately determine the issue of interest and costs of the arbitration, Hyflux said in a regulatory filing on Monday evening.
Last month, Hyflux posted a net loss of S$25.1 million in the second quarter, hurt in part by a weak power market in Singapore.
Hyflux designs, installs, commissions, and maintains treatment systems for water purification, wastewater treatment, water recycling and high-purity piping systems.
Shares in the company rose 1 percent to S$0.49 on the Singapore Exchange. The stock has lost 5 percent so far this year, giving it a market capitalisation of about S$385 million.
