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.
Utico would provide working capital and any urgent interim funding to Hyflux as part of the offer, Richard Menezes said.
CREDITORS who want Hyflux put under a judicial manager (JM) will have to save their fight for another day.
HYFLUX has received a notice from BNP Paribas demanding payment of US$57.7 million, it said on Monday.
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....