Hyflux said in a statement on Thursday that the deal with SM Investments, made up of Indonesia's Salim Group and Medco Group, had lapsed after the latter did not provide a written confirmation that it will proceed with the rescue deal, despite repeated requests by Hyflux to do so.
SINGAPORE (Apr 4): Indonesian consortium SM Investments has aborted its proposed deal to invest in Hyflux, ending an agreement that was seen as a lifeline for the beleaguered water treatment company.
