Hyflux International (Hyflux)

Markets

Singapore studies tightening bonds, REITs regulation

(Aug 7): Singapore is examining ways to tighten regulation of retail bond issues and the real estate investment trust sector as it steps up investor protection in the city-state.

Company in the news

Hyflux could get $535 mil lifeline from white knight Utico

SINGAPORE (July 16): After months of high tension drama as it teetered on the brink of bankruptcy, Hyflux looks like it is finally going to be saved by a white knight investor.

Restructuring

Hyflux gets non-binding letter of intent from China suitor

SINGAPORE (June 15): Hyflux has received another non-binding letter of intent (LOI) for a potential investment in the group by an investor based in China.

Restructuring

Hyflux's debt moratorium extended by 2 months to Aug 2; in talks with 7 investors

SINGAPORE (May 30): The Singapore High Court has granted Hyflux a two-month extension of its debt moratorium, the company announced in a filing last night.

Offer

UAE's Utico submits binding offer to invest in Hyflux: CEO

ABU DHABI (May 13): United Arab Emirates-based utility firm Utico has submitted an offer for a binding agreement to invest in Singapore's Hyflux, Utico's chief executive said on Sunday.

In print this week

Hyflux races to find new investors as time for moratorium runs out

SINGAPORE (May 13): Embattled water company Hyflux is in a race against time to find a new investor after it failed to complete an earlier restructuring agreement with Salim-Medco Investments (SMI). Hyflux needs a binding term sheet and agreement by May 2

Management & Corporate Governance

Hyflux receives another LOI, this time from Oyster Bay Fund to invest up to $500 mil

SINGAPORE (May 10): Hyflux International says it has received another non-binding LOI (letter of intent) from Oyster Bay Fund to invest up to $500 million in the group, subject to regulatory clearance, due diligence and the execution of a definitive agree

Restructuring

Hyflux's moratorium extended by 5 days to May 29; two new restructuring plans in the works

SINGAPORE (May 7): The Singapore High Court on Tuesday rejected the petition by a group of seven unsecured banks to be excused from a debt moratorium so that they can file an application to have Hyflux and Hydrochem placed under judicial management

Restructuring

Hyflux granted one-month extension of debt moratorium instead; new deadline is May 24

SINGAPORE (Apr 25): Hyflux International, the debt-laden water company facing potential liquidation, has been granted a one-month extension of its debt moratorium to May 24 although it had asked for an extra three months.

Hyflux applies to extend debt moratorium by another three months; slapped with fresh claims of US$65 mil

SINGAPORE (Apr 23): Hyflux and three of its subsidiaries have applied to the Singapore High Court for its debt moratorium to be extended by another three months.
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