Hyflux Gets Six Month Reprieve From Creditors
Published on by Water Network Research, Official research team of The Water Network in Business
A Singapore court granted Singapore water treatment firm Hyflux Ltd a six-month reprieve from creditors, the company’s lawyer said, giving it breathing room to restructure its liabilities.
By Reuters Staff
Hyflux, which is also involved power generation, has said sustained weakness in electricity prices in the city-state had increased strain on its finances and caused short-term liquidity restrictions.
It applied to the country’s high court in May to begin a reorganisation of its business. Trading in the company’s shares have been suspended for the past month.
He added the company was seeking rescue financing of up to S$200 million ($147.16 million) and was in talks with several parties.
Read full article: Reuters
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