MAS and SGX keeping close tabs on Hyflux

National water agency PUB said that it will take over Hyflux's Tuaspring Desalination Plant if the company cannot resolve its defaults by April 5, and waive the compensation sum.
National water agency PUB said that it will take over Hyflux's Tuaspring Desalination Plant if the company cannot resolve its defaults by April 5, and waive the compensation sum. ST PHOTO: LIM YAOHUI

Singapore's financial regulators said yesterday that they are keeping a close watch on troubled water firm Hyflux, and will investigate if laws have been breached.

The Monetary Authority of Singapore (MAS) and the Singapore Exchange (SGX) said in response to queries: "If there is any evidence of potential breaches of the law or regulations, including any potential disclosure lapses, we will investigate and take appropriate actions."

This comes after national water agency PUB said on Thursday that it will take over Hyflux's Tuaspring Desalination Plant if the company cannot resolve its defaults by April 5, and waive the compensation sum.

At the same time, Hyflux's restructuring effort might be at risk as white knight Salim-Medco consortium could walk away from the deal.

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A version of this article appeared in the print edition of The Straits Times on March 23, 2019, with the headline 'MAS and SGX keeping close tabs on Hyflux'. Print Edition | Subscribe