The news comes after Hyflux, which currently faces $2.8 billion of liabilities, last week saw its restructuring plans collapse when SM Investments – an Indonesian consortium comprising Salim Group and Medco Group – defaulted on its proposed $450 million investment deal to invest in the firm.
SINGAPORE (April 11): Hyflux remains undecided over the possibility of seeking an extended debt moratorium ahead of the April 30 deadline, according to the troubled water and power company’s representing attorney.
Speaking on behalf of Hyflux at a case management conference today, WongPartnership lawyer Manoj Sandrasegara reportedly said he had “no instruction at this stage” to apply for a moratorium extension, while also opining that “all options are on the table” for the firm as it intends to hold discussions with all senior unsecured groups.
