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Revisions

Hyflux names UAE firm as next potential suitor with $400 mil injection deal

Update

Hyflux names UAE firm as next potential suitor with $400 mil injection deal

Michelle Zhu Published on Mon, May 06, 2019 / 10:55 AM GMT+8

A-

A+

SINGAPORE (May 6): Hyflux has identified Utico FZE as its next potential white knight investor which might make a capital injection of $400 million, weeks ahead of its extended debt moratorium until May 24.

Hyflux had previously mentioned it was in discussions with an unidentified suitor and had already received a non-binding letter of intent (LoI) from the other party.

See: Hyflux applies to extend debt moratorium by another three months; slapped with fresh claims of US$65 mil