Company Briefs: Hyflux

Hyflux

Hyflux has given creditors and stakeholders a two-week extension to file their proofs of claim ahead of scheme meetings as the water treatment firm undergoes debt restructuring.

The new deadline has now been pushed back to 5pm on March 1, from 5pm on Feb 15 previously, the company announced in a regulatory filing on Monday night.

Holders of the company's notes, perpetual securities and preference shares who do not file a proof will be deemed to have authorised the company to file a proof on their behalf, based on their holdings as recorded in the Central Depository, Hyflux said.

Hyflux's call for proofs has caused some confusion among holders of its securities. Some were also angry with the timing of the news released during the Chinese New Year period, and that they had only two weeks to file their proofs with the old deadline.

Separately, Hyflux group executive vice-president Cheong Aik Hock noted in an affidavit filed with the High Court on Feb 8 that the process of calling for proofs is intended to be "administratively efficient", and to allow the "restructuring agreement to be effected".

"I stress that the Hyflux Group has no intention whatsoever to hinder or prevent any of its stakeholders from voting on the scheme of arrangement to be proposed," he added.


CBRE

Ms Pauline Goh will assume the post of CBRE's chairman for South-east Asia, a role that will be "more client-centric, focused on nurturing and growing strategic client accounts across South-east Asia", the company said yesterday.

She was formerly chief executive for Singapore and South-east Asia for the property consultancy since 2010.

Meanwhile, CBRE veteran Moray Armstrong has been appointed managing director of the Singapore business, after previously serving as managing director of the advisory and transactions team.

Mr Vikram Kohli is now chief operating officer overseeing the entire South-east Asia region including Singapore, after having been regional managing director for South-east Asia with a focus on markets outside of Singapore.

Given Singapore's importance as a hub for the company's regional business, Ms Goh said "we need a dedicated leader to take the company and people forward in this next phase of growth".

The three will report to Mr Anshuman Magazine, chairman and chief executive of India, South-east Asia, Middle East and Africa.

A version of this article appeared in the print edition of The Straits Times on February 13, 2019, with the headline 'Company Briefs'. Print Edition | Subscribe