Under the terms of an October 2018 rescue agreement, a group of Indonesian investors led by Anthoni Salim will inject $400 million into debt-ridden Hyflux in exchange for a 60% stake. They will also loan the company an additional $130 million.
SINGAPORE (Apr 6): Two mid-day announcements on April 4 by Hyflux and its rescuer SM Investments left both investors and market watchers confused. First, Hyflux cancelled the meetings to vote on a scheme of arrangement scheduled for April 5 and 8, because it claimed SMI had repudiated the restructuring agreement.
