The focus now should be for stakeholders and creditors to give the firm time and space to find an alternative white knight by the end of AprilIT was hugely disappointing to learn last week that troubled water
treatment firm Hyflux Ltd has terminated its agreement with SMI, the only white knight that has emerged over the past year with funds to help Hyflux. Ever since SMI announced its S$530 million rescue package last October, Sias
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Embattled Hyflux scraps agreement with would-be white knight Indonesian SM InvestmentsHyflux said that it had no confidence that the investor is prepared to continue to complete the proposed SMI Investment, even if all outstanding conditions precedent under the Restructuring Agreement are fulfilled
Source: IndependentSG - 🏆 2. / 72 Read more »
Don't shoot the ATM, it's just a distribution tool: banksAS RETAIL investors cast about for someone to blame for their Hyflux woes, the ATM (automatic-teller machine) is the latest in the firing line. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Flash: Hyflux says Salim-Medco investment is off; cancels scheme meetingsHYFLUX on Thursday said the key investment deal with Salim-Medco is now off the table and cancelled scheme meetings scheduled for April 5 and 8. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Hyflux default signals more trouble ahead for Singapore bond market: S&PS&P Global Ratings said the default of troubled water and power company, Hyflux, could be the 'first wagon in a train of financial distress cases' to come in Singapore, as lending conditions adjust to the economic slowdown and become less favourable. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
S&P Global Ratings: Hyflux default may be first of such casesS&P Global Ratings said the default of troubled water and power company Hyflux could be the 'first wagon in a train of financial distress cases' to come in Singapore, as lending conditions adjust to the economic slowdown and become less favourable. The credit ratings...
Source: thenewpaper - 🏆 7. / 63 Read more »
Hyflux default could signal more trouble ahead for Singapore bond market: S&PS&P Global Ratings said the default of troubled water and power company Hyflux could be the 'first wagon in a train of financial distress cases' to come in Singapore, as lending conditions adjust to the economic slowdown and become less favourable. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Hyflux saga demands better debt disclosure rulesICYMI: Singapore investors suffer from a total lack of consistency in how perps show up in companies' financial reports. hyflux
Source: BusinessTimes - 🏆 15. / 51 Read more »