Hyflux

Hyflux says that Tahlyat Myah Magtaa (TMM), the owner of the seawater desalination plant in Magtaa, Algeria, is suspending its termination notice of Hyflux’s operations and maintenance (O&M) contract with the plant.

Utico raised its offer for the firm. Utico also pushed out its deadline to the end of July, according to a statement on Thursday.

On July 27, Justice Aedit Abdullah will hear the applications submitted by the unsecured working group of banks (UWG) as well as RBC Investors Services Trust, the trustee of ESR-REIT.

Widjaja will not proceed with the rescue if Hyflux's existing board, under probe for lapses, is removed

In a letter to Hyflux CEO Olivia Lum and its board of directors sent on Tuesday (June 2), Aqua Munda’s director Bambang Sugeng bin Kajairi says that the company is still “interested” in buying over Hyflux’s debt.

Hyflux has attracted a new offer from a Spanish company, adding more uncertainty to a drawn-out process that’s left many retail investors in the lurch.

The association urged Hyflux and Utico to reassure investors that the deferred payment obligations are sufficiently provided for by producing evidence.

Some investors have hoped the government would step in to help, despite it repeatedly rejecting calls to bail out Hyflux, saying the restructuring is a “commercial matter.”

(Jan 30): Singapore’s highest-profile distressed company, Hyflux, faces more woes after its legal adviser said it plans to walk off.

Hyflux was once a high-flying symbol of Singapore’s entrepreneurial might before a stumble in 2018 made it the city-state’s highest-profile distressed debt case. The fall has left some 34,000 retail investors in the lurch.