Hyflux will restart talks with its creditors to explore outcomes other than liquidation, but has not decided yet on whether it will seek an extended debt moratorium from the Singapore High Court.HYFLUX will restart talks with its creditors to explore outcomes other than liquidation, but has not decided yet on whether it will seek an extended debt moratorium from the Singapore High Court.
The update comes after Hyflux last Thursday terminated a crucial rescue deal, with just weeks to go before the insolvent water and power plant company loses court protection from creditors when its moratorium expires on April 30. In Court on Thursday, none of the lawyers representing Hyflux’s various stakeholders were impatient for its moratorium to be lifted.He cited an email he had received from retail perpetual securities holder Violet Seow: “She has expressed that she has no confidence in the restructuring attempts and says that the company should basically not be allowed to extend the moratorium for too long.”
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.
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 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 »
Can the Hyflux restructuring be resurrected?IT 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 had consistently maintained that no effort should be spared to ensure that SMI stayed in the game, while urging all stakeholders to show up and vote at their respective restructuring extraordinary general meetings in order to stave off liquidation and save the company. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Back to square one for Hyflux as it seeks new white knightTroubled water treatment company Hyflux faces a higher chance of being liquidated barring the appearance of a new white knight investor - and experts say that the chances of one appearing are low.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 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 aborts investment deal with SM InvestmentsHyflux yesterday aborted a key investment deal with would-be saviour SM Investments (SMI) and cancelled a critical creditors' vote scheduled today, throwing its future in doubt. The beleaguered water treatment firm also cancelled a scheme meeting on April 8 and an...
Source: thenewpaper - 🏆 7. / 63 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 »
Indonesian white knight drops deal to invest in Singapore's HyfluxAn Indonesian white knight has dropped its proposed deal to invest in water treatment company Hyflux, ending an agreement that was seen as a lifeline for the beleaguered Singaporean firm. Hyflux said in a statement on Thursday that SM Investments, a consortium of Indonesia's Salim Group and Medco
Source: YahooSG - 🏆 3. / 71 Read more »