Hyflux restructuring plans rocked by PUB notice to Tuaspring; ESR-REIT files proofs of claims

SINGAPORE (Mar 6): Hyflux, the water treatment firm which is undergoing debt restructuring, has received a notice from Singapore’s Public Utilities Board “asserting certain defaults by Tuaspring” under its 2011 water purchase agreement (WPA) with the Hyflux subsidiary.

Terms of the WPA provide a default cure period of 30 days from March 6, 2019, for Tuaspring to PUB on the steps needed to mitigate the consequences of, and cure, any defaults which may have occurred.

If the alleged breaches are not remedied, PUB resolves the right to terminate the agreement with written notice of at least 30 days.

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