DEBT RESTRUCTURING/INSOLVENCY

Honestbee sheds 80% of staff, delays salary payment

Struggling start-up Honestbee has laid off about 80 per cent of its staff in the wake of the temporary closure of its grocery store Habitat.

Look Back 2019: Woeful year for these firms, people

Embattled water treatment firm Hyflux's struggles to find a white knight investor finally concluded last month, when it came to an agreement with United Arab Emirates utility company Utico, after...

Honestbee still has potential: Key investor

Honestbee is still churning through the cash as it moves to restructure the business following the four-month debt moratorium it was granted last month.

217 former Honestbee employees owed almost $1m in salary

Embattled start-up Honestbee's headcount has dropped significantly over the last few months, but more than 200 of its former employees have yet to be paid.

Hyflux rescue deal held up by differences within board: Utico

Amid conflicting accounts of the status of Hyflux's restructuring agreement, white knight Utico yesterday blamed alleged differences within the Hyflux board for the holdup in the signing of the...

Hyflux says no definitive rescue deal reached with Utico

Hyflux said it is in "highly advanced discussions" with Utico and will continue to engage with each other.

Epicentre resists creditor's application for judicial management, claims has no knowledge of certain debts

SINGAPORE - Catalist-listed Epicentre has filed an affidavit to resist creditor Goh Chee Hong's application for the company to be placed under judicial management and appoint interim judicial...

Hyflux unit restructures $121.3m loan for desalination plant in China

SINGAPORE - Hyflux said its wholly-owned unit Tianjin Dagang Newspring Co Ltd (TDN) has successfully restructured a 617 million yuan (S$121.3 million) Bank of China loan.

Deadline for Hyflux-Utico deal extended

United Arab Emirates utility Utico FZC has extended a deadline for entering into a binding agreement with debt-ridden water treatment firm Hyflux to June 27, according to a Singapore Exchange...

Hyflux says Utico's offer to small investors 'exploratory in nature'

Ahead of today's High Court hearing on whether Hyflux will get a further reprieve from creditors, the beleaguered firm clarified yesterday that there is no binding agreement with potential...

Utico offers 'part cash redemption' to Hyflux junior creditors

United Arab Emirates utility Utico is dangling an offer of reprieve to the beleaguered 34,000 retail perpetual securities and preference (PNP) shareholders now trying to recover around $900...