Hyflux is headquartered and listed in Singapore. MoreBy David Yong — Singapore’s troubled water treatment company Hyflux Ltd., formerly celebrated as a hallmark of entrepreneurship in better times, is set for a humbling week.Creditors are due to file proof by Friday of the obligations that Hyflux owes them, putting the company’s S$2.7 billion unsecured debt load under an even brighter spotlight.
Why It MattersHyflux funded its business expansion with junior debt, some sold through ATMs; it counts some 34,000 mom-and-pop investors among its creditors, and angers aboundThere have been petitions to vote against Hyflux’s proposal, as well as calls in private chat groups for state rescue at a time when general elections are around the cornerEven before Hyflux’s distress, some S$1.
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High Court approves Hyflux's scheme meeting with creditorsThe High Court has approved an application by embattled water treatment company Hyflux and three of its subsidiaries to convene a scheme meeting with its creditors over a proposed restructuring. It can now proceed with the scheme meeting on April 5 with unsecured creditors...
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