Back to square one for Hyflux as it seeks new white knight

Chances of liquidation have risen; experts say another saviour not likely to appear

Hyflux believes PUB's takeover of its Tuaspring desalination plant (above) "could potentially enable the company to reach out to a wider pool of investors".
Hyflux believes PUB's takeover of its Tuaspring desalination plant (above) "could potentially enable the company to reach out to a wider pool of investors".LIANHE ZAOBAO FILE PHOTO

Troubled 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.

What was supposed to be a lifeline for Hyflux to restructure its debts ended abruptly yesterday, a day before creditors were slated to vote on the proposed reorganising deal.

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A version of this article appeared in the print edition of The Straits Times on April 05, 2019, with the headline 'Back to square one for Hyflux as it seeks new white knight'. Subscribe