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".
HYFLUX wants more time to try to return to solvency and plans to file an affidavit to the Singapore High Court soon to give it an additional three-month reprieve from creditor claims.
A new plan is on the table for debt-stricken Hyflux that could see it avoid liquidation and keep the 34,000 retail investors "whole in its books", an investor watchdog said yesterday.
FORMER white knight SM Investments (SMI) will sue debt-laden Hyflux for cancelling the S$530 million rescue deal, it said in a statement on Friday.
Embattled water desalination company Hyflux, which appointed heavyweight debt restructuring expert nTan this week as its corporate adviser, is in a race against time to find a new buyer, with one...
NATIONAL water agency PUB has issued a takeover notice to Tuaspring Pte Ltd (TPL) to take over the desalination plant and terminate its water purchase agreement with parent Hyflux.