Utico FZC

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

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

Update

Hyflux names UAE firm as next potential suitor with $400 mil injection deal

SINGAPORE (May 6): Hyflux has identified Utico FZE as its next potential white knight investor which might make a capital injection of $400 million, weeks ahead of its extended debt moratorium until May 24.
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