Debt holder Alex Leong has obtained a permit to organise the protest at a downtown park known as the Speaker’s Corner, the Straits Times reported on its website. The newspaper cited Leong’s concerns that he could lose a large proportion of his savings if the restructuring goes through.
SINGAPORE (Mar 26): Emotions are running high among some Hyflux retail investors who stand to lose almost everything in the collapse of Singapore’s once much vaunted water-treatment company.
The frustration has prompted some of them to organise a protest on March 30 over a steep haircut imposed by the company under its $2.8 billion debt restructuring plan. The Business Times published a letter from a reader calling on Singapore to nationalise the plant, saying Hyflux may be worth as much as a commodity trader that got government support in 2014.
