MOYA ASIA LIMITED (Company Registration No. 198602051G) (the “Company”)

25-YEAR BUILD, OPERATE AND TRANSFER (“BOT”) PROJECT FOR A FRESH WATER TREATMENT COMPLEX IN CITY AREA, INDONESIA

The Board of Directors of Moya Asia Limited 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 covers multiple districts within Tangerang City area and is divided into 3 zones, with Zone 1 comprising the , , Benda, and Bandara Soekarno Hatta sub district areas; Zone 2 comprising the , Karawaci, and sub district areas; and Zone 3 comprising the Karang Tengah, Pinang, and sub district areas.

During the first phase, PTMI will build a new production unit in Zone 1 to supply 43,200 m3/day of water as well as to upgrade and uprate the existing production unit to supply 38,880 m3/day of water, bringing the total production capacity to 82,080 m3/day of water. In the second and third phases, PTMI will build new production units to supply 43,200 m3/day of water to Zones 2 and 3, respectively. When fully completed, the total production capacity of the BOT project will be 168,480 m3/day of water.

The investment value of the BOT Project is estimated to range from approximately USD 110 to 120 million. The three phases of the BOT Project is expected to span over five years from FY2012 to FY2016. The first phase is expected to commence in the second half of FY2012. The commencement of each subsequent phase is subject to a minimum level of demand of water achieved and a working plan that will be duly agreed by PDAM Tangerang and the Company. Barring any unforeseen circumstances and subject to execution risks, the BOT project is expected to have a positive impact on the EPS and NTA of the Group in FY2012 in accordance with Interpretation of Financial Reporting Standard (“INT FRS”) 112.

In view of the investment requirements for the BOT Project over the next 5 years, the Group intends to explore various forms of financing from both internal sources as well as external sources such as debt and equity instruments. Further updates on the commencement of construction and financing arrangements will be provided to shareholders as soon as these developments arise.

None of the Directors or controlling shareholders of the Company have any interest, direct or indirect, in the BOT Project. The Directors are also not aware of any substantial shareholders who have any interest, direct or indirect, in the BOT Project.

Shareholders are advised to exercise caution when dealing with the shares of the Company in relation to this announcement.

BY ORDER OF THE BOARD Simon A. Melhem Chief Executive Officer/Managing Director 20 February 2012

This announcement 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 (the “SGX-ST”). Collins Stewart Pte. Limited has not independently verified the contents of this announcement.

This announcement 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 announcement.

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.