The investor, whose identity was not revealed, also expressed interest in the operation and maintenance of those assets, in the hope of growing its own portfolio of desalination plants.
Hyflux is set to lose Tuaspring Integrated Water and Power Plant (IWPP), which was once its largest asset but has now been flagged by some analysts as a millstone around the neck of the embattled...
The troubled water treatment firm is in a race against time to nail down new investors to keep operations going and avoid liquidation.
Struggling water treatment firm Hyflux is hoping to nail down a $400 million deal with Utico FZC in a bid to fend off a move by seven banks to have the company placed under judicial management....
Hyflux called the potential white knight in an exchange filing on Thursday "a developer and owner of water and power utilities based in the Middle East with a reputable track record".
Experts said that the chances of one are low despite the removal of a loss-making asset from Hyflux's books.
Hyflux and its former white knight SM Investments have clashed over what led to the death of a $530 million restructuring deal.
SINGAPORE - Hyflux on Thursday said the key investment deal with Salim-Medco is now off the table and cancelled scheme meetings scheduled for April 5 and 8.