Chances of a new white knight for Hyflux low, say experts

Hyflux walked away from a $530 million restructuring deal by Indonesian white knight investor SM Investments earlier this month.
Hyflux walked away from a $530 million restructuring deal by Indonesian white knight investor SM Investments earlier this month.ST PHOTO: LIM YAOHUI

Troubled water treatment company Hyflux may have had to offload its failed Tuaspring desalination plant, but its survival still depends on the appearance of a new white knight investor.

Experts told The Straits Times that the chances of one are low despite the removal of a loss-making asset from its books.

Please or to continue reading the full article. Learn more about ST PREMIUM.

Enjoy unlimited access to ST's best work

  • Exclusive stories and features on multiple devices
  • In-depth analyses and opinion pieces
  • ePaper and award-winning multimedia content
A version of this article appeared in the print edition of The Straits Times on April 18, 2019, with the headline 'Chances of a new white knight low, say experts'. Print Edition | Subscribe