restructuring

Another potential Hyflux investor emerges; Utico says will consider 'soft landing'

HYFLUX has received a letter from Longview International Holdings expressing its interest in investing in the troubled water treatment firm with a joint venture (JV) partner.

Creditors fear illiquid equity in new honestbee entity

BEING stuck with potentially illiquid stock was a key concern raised at honestbee's creditor townhall on Monday, which was attended by over 100 creditors, The Business Times has learnt from...

Proposal to 800 honestbee creditors: 3% cash repayment, 97% in shares of new entity

FORMER honestbee chairman Brian Koo and his venture firm, Formation Group, plan to use a cash payment to settle 3 per cent of what the embattled startup owes to about 800 creditors, The Business...

Utico rescue deal may fail as Hyflux lenders oppose nTan adviser fees: Debtwire

THE restructuring agreement just signed this week between debt-ridden Hyflux and white knight Utico might fall through, given that Hyflux’s unsecured bank lenders are said to be opposed to the...

honestbee eyes co-working play, beefs up management team

HONESTBEE may be in the thick of rebuilding its fallen house, but it is also eyeing a real estate play. The startup plans to sub-lease about half of its Delta House office space for co-working,...

honestbee chairman Brian Koo looms large in startup's revamp bid

AS HONESTBEE seeks court protection to restructure some US$209 million worth of debt, questions remain about whether its key backer and chairman Brian Koo holds all the cards, or if minority...

CPF to take action against honestbee for unpaid July contributions

THE Central Provident Fund (CPF) Board is taking enforcement action against honestbee for failing to pay contributions for its employees in July, a spokesman for the board said in response to...

High Court gives honestbee 30 days to refine moratorium bid

THE Singapore High Court has given honestbee an extra month to beef up its application for a six-month debt moratorium against its creditors, chief executive Ong Lay Ann said on Tuesday.

Hyflux to 'engage exclusively' with Utico until Aug 26 for a rescue deal

HYFLUX intends to enter into exclusive talks with Utico from now until Aug 26, as its negotiations with Utico are the most advanced among all the potential investors, the beleaguered company said...

honestbee's restructuring may hinge on fixing business model

TO convince creditors to back its debt restructuring plans, honestbee must demonstrate its business viability in the cutthroat offline-to-online retail scene, industry watchers told The Business...

Hyflux seeks further extension of debt moratorium as talks with potential suitors continue

TROUBLED water treatment firm Hyflux and three of its subsidiaries have applied to the court for a further extension of its debt moratorium.