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Hyflux Gains in Singapore After Desalination Plant Cost Approval

Hyflux Ltd., Singapore’s biggest water treatment company, rose to a 2 1/2-month-high after winning approval to raise the cost of building the island’s largest desalination plant.

Revised costs of S$1.05 billion ($829 million), an increase from S$890 million, were approved to construct the Tuaspring plant, Singapore’s second seawater desalination facility, Hyflux said in a statement. The shares climbed 3.1 percent to S$1.485, the biggest gain since July 4 and their highest since April 19.

The stock has risen 23 percent this year.

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