Moya Asia Limited 103 Defu Lane 10 #03-00 BTH Building Singapore 539223 Website: www.moyaasia.com

Media Release (For Immediate Release)

Moya Asia enters into a 25-year Build, Operate and Transfer (“BOT”) Project in connection with a fresh water treatment complex at City, West Java, Indonesia

 The BOT contract is signed between Perusahaan Daerah Air Minum Tirta Benteng Kota Tangerang (“PDAM Tangerang”) and PT Moya Indonesia (a wholly-owned subsidiary of the Group)

 The BOT project will be rolled out in three zones, with a combined capacity of 168,480 m3/day when fully completed

 Total investment value of approximately USD 110 to 120 million expected for all three zones.

Singapore, 20 February 2012 – Moya Asia Limited (“Moya Asia” or the “Company”, and together with its subsidiaries, “the Group”) is pleased to announce that its wholly- owned subsidiary, PT Moya Indonesia (“PTMI”), has entered into a BOT contract with the Indonesian municipal authority Perusahaan Daerah Air Minum Tirta Benteng Kota Tangerang (“PDAM Tangerang”) to undertake the design, build, upgrade, uprate, operate and transfer of a fresh water treatment complex and associated network development (“BOT Project”). The BOT Project will provide water supply for Tangerang City Area.

The BOT Project will be divided into three zones, each with a concessionary tenure of 25 years. Zone 1 comprises the , , Benda, and Bandara Soekarno Hatta sub district areas. Zone 2 comprises the , Karawaci, and sub district areas. Zone 3 comprises the several districts, namely Karang Tengah, Pinang, and sub district areas. Beginning with Zone 1, the Group will build a new water treatment Plant (“WTP”) with capacity of 43,200 m3/day and upgrading an existing WTP to 38,880 m3/day. Zones 2

Page 1 of 3 and 3 will each comprise a WTP with capacity of 43,200 m3/day. When fully completed, the total production capacity is 168,480 m3/day.

Total investment for the BOT Project is expected to range from approximately USD 110 to 120 million. The three zones of the BOT Project are expected to span over five years from FY2012 to FY2016. Zone 1 is expected to commence in the second half of FY2012. The commencement of each zone is subject to a minimum level of water demand and a working plan that will be duly agreed by PDAM Tangerang and the Company.

Indonesia’s Emerging Water Sector

The gradual roll out of the BOT Project will increase the Group’s processing capacity to 168,480 m3/day when all three zones are completed and operational. This will in turn raise the Group’s total processing capacity to beyond 254,880 m3/day, after taking into account the recently secured Bekasi Regency BOT project in Indonesia.

Commenting on the scale and investment opportunity of the latest BOT Project, Mr Simon A. Melhem, Chief Executive Officer of Moya Asia Limited said “This is Moya Asia’s most significant BOT project to date. We anticipate that this BOT project will contribute a substantial stable revenue stream for the Group in years to come. I believe Moya Asia can be a notable platform for investors and partners seeking to participate and gain exposure in ASEAN’s burgeoning water sector.”

According to Global Water Intelligence1, Indonesia’s BOT companies were averaging above 15% IRR based on nominal project value. While local government-owned water utilities companies (Perusahaan Daerah Air Minum or PDAM) still dominate the clean water supply market in most parts of Indonesia, an emerging trend of privatization has resulted in beneficial returns for private BOT companies who are still small in numbers. PDAMs serve only about 30% of the Indonesian population while only 23% of the Indonesian population have access to piped water supply.

1 Source: Global Water Intelligence report on “Small to Medium Scale Opportunities in the Water and Wastewater Sector in Developing Asia (May 2011)”

Page 2 of 3 In view of the capital requirements of the BOT Project over the next 5 years, the Group intends to explore various forms of financing including both debt and equity instruments. Further updates will be provided to shareholders as soon as these developments arise.

#End of Release#

Note: This press release is to be read in conjunction with the related mandatory announcement filed by Moya Asia Limited on SGX net.

For more information, please contact: Daniel Oh, 6285 6137, [email protected] Claris Yeo, 6285 3150, [email protected]

About Moya Asia Limited Listed on SGX Catalist in April 2002 and majority acquired by Moya Holding Company B.S.C. in 2010, Moya Asia Limited (“Moya Asia” formerly Moya Dayen Limited) is a developer, owner and operator of water supply treatment facilities, waste water treatment facilities and all related infrastructures. In addition, the Group also provides operations and maintenance (“O&M”) and engineering–procurement-construction (“EPC”) services to its municipal and private sector clients.

More information on Moya Asia is available on www.moyaasia.com

This document has been prepared by the Company and its contents have been reviewed by the Company’s Sponsor, Collins Stewart Pte. Limited for compliance with the relevant rules of the Singapore Exchange Securities Trading Limited (“SGX-ST”). Collins Stewart Pte. Limited has not independently verified the contents of this document.

This document has not been examined or approved by the SGX-ST and the SGX-ST assumes no responsibility for the contents of this document, including the correctness of any of the statements or opinions made or reports contained in this document.

The contact person for the Sponsor is Mr Alex Tan, Managing Director, Corporate Finance, Collins Stewart Pte. Limited at 77 Robinson Road #21-02 Singapore 068896, telephone (65) 6854 6160.

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