Singapore’s Hyflux files for liquidation after investor talks fail
SINGAPORE, June 5 (Reuters) The judicial managers of Singapore Hyflux Ltd said they have applied to a court to liquidate the company after talks for an investment into the embattled water treatment firm failed.
“Given the negotiations with the investor for an investment in the entire Hyflux Group were unsuccessful and consequently a restructuring not possible, the continuation of the judicial management of the company is no longer necessary,” the managers from Borrelli Walsh said in a stock exchange filing on Friday.
They said the remaining value of Hyflux was best realised in a i watch 38mm hermes replica single tour strap
liquidation, adding that remaining bids to buy the company individual assets could be facilitated through winding its up.
Debt laden Hyflux, once seen as a national champion running a strategically important water source for tiny, natural resource poor Singapore, filed for a court supervised financial restructuring in 2018 and defaulted on its debt payments. It was placed under judicial management in November.
National water agency PUB took over the company key water treatment plant two years ago.
Hyflux financial distress has battered the holdings of nearly 50,000 retail investors, including shareholders and bond holders, according to an investor group.
(Reporting by Aradhana Aravindan in Singapore; Editing by William Mallard)
AdLastPass Identity Solutions For Your Company
SINGAPORE (EDGEPROP) A two bedroom unit at V on Shenton, along Shenton Way in District 1, is currently in the pipeline for a bank auction by Edmund Tie at a guide price of $2.1 million ($1,991 psf), pending confirmation from the bank. (See: Sea facing unit at V on Shenton for sale at $2.3 mil)The 1,055 sq ft corner unit on the ninth floor of V on Shenton is in the pipeline for a bank auction (Credit: Samuel Isaac Chua/ The Edge Singapore)Edmund Tie says until further instructions from the Mini.