SINGAPORE, April 4 - An 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 Group, has terminated the agreement between the companies. In October 2018, SM Investments had agreed to acquire 60 percent of Hyflux for S$400 million and give it a loan of S$130 million.
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White knight investor throws Singapore's Hyflux rescue into doubtAn Indonesian white knight, whose proposed investment in Hyflux is crucial for the beleaguered water treatment company's rescue, said on Thursday that conditions for a deal to restructure the firm had not been met. In October, SM Investments (SMI), a consortium of Indonesia's Salim Group and
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Restructuring does not stop any probe into Hyflux: SIAS chiefSECURITIES Investors Association (Singapore) chief David Gerald in his latest media statement on the debt-ridden Hyflux, attempted to correct some erroneous views of investors of the water treatment company, as he pointed out that current investigations, if any, would not be aborted just because investors vote in favour for restructuring on April 5. Read more at The Business Times.
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In Parliament: Govt will not use taxpayers’ money to bail out Hyflux investorsSINGAPORE — The Government cannot justify the use of taxpayer money to bail out retail investors who have been burnt by the financial woes of water treatment firm Hyflux, Minister for the Environment and Water Resources Masagos Zulkifli said in Parliament on Monday (April 1).
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