Troubled water treatment company Hyflux said on Tuesday that it has received a request for arbitration from Algerian Energy Company in relation to its seawater desalination plant in Algeria.TROUBLED water treatment company Hyflux said on Tuesday that it has received a request for arbitration from Algerian Energy Company in relation to its seawater desalination plant in Algeria.
The Souk Tleta plant marked Hyflux’s entry into the water treatment market in the region. In operation since 2011, it supplies water to Algérienne des Eaux, the state-owned national water company of Algeria, and Sonatrach, the national oil company. Hyflux said the company and the other respondents to the request, TDIC and Malakoff Corporation Berhad, are currently seeking legal advice on AEC’s claims, and will “take all necessary steps to protect their rights”.
Hyflux called the statement “incorrect”, quoting its letter to the Securities Investors Association dated Feb 15, 2019, which said that Ms Lum only received dividends based on her ordinary shareholding in the company from 2007 to 2016 during which the company recorded cumulative profit after tax.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PUB says Salim-Medco should not use it as excuse to pull plug on Hyflux dealHYFLUX's reluctant white knight Salim-Medco consortium (SMI) should not use PUB as an excuse to back out of its investment agreement with the water treatment company, the national water agency said on Thursday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
The Hyflux story so far, in BT WeekendAS the Hyflux saga continues, we take a look back at the history of the Tuaspring project, retracing how it kicked off, how it was financed, and how the funding model floundered. Read the story so far, in Brunch this Saturday in The Business Times Weekend. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
PUB to Salim-Medco: Don't use us as excuse to pull out of Hyflux dealHYFLUX's reluctant white knight should not use PUB as an excuse to back out of its investment agreement with the water company, the national water agency said on Thursday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
The Hyflux story so farIT was supposed to be Hyflux's springboard into the integrated water and power project segment. But the Tuaspring water desalination plant, which Hyflux chose to append with a power generation plant, turned out to be the membrane technology firm's toughest project of all. The Business Times tracks that journey. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Financial regulators keeping close watch on Hyflux sagaThe saga surrounding Hyflux has caught the eye of Singapore's financial regulators, who are looking into whether the water treatment company has breached any rules.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
MAS and SGX keeping eye on Hyflux saga to see if company breached any rules'If there is any evidence of potential breaches of the law or regulations, including any potential disclosure lapses, we will investigate and take appropriate actions,' the regulators said.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Sias urges Hyflux to chase Salim-Medco for updates on rescue dealFIRST came a default notice from the national water agency, followed by an announcement that Hyflux's scheduled townhall meetings with retail investors would be postponed indefinitely. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »