Financial regulators keeping close watch on Hyflux saga

If the restructuring plan vote fails on April 5 and the defaults cannot be cured, that is likely the end of Hyflux. PUB will take over the Tuaspring Desalination Plant (above) and the Hyflux board can put the company up for liquidation.
If the restructuring plan vote fails on April 5 and the defaults cannot be cured, that is likely the end of Hyflux. PUB will take over the Tuaspring Desalination Plant (above) and the Hyflux board can put the company up for liquidation.LIANHE ZAOBAO FILE PHOTO

MAS and SGX looking into water treatment company, will investigate if evidence of rule breaches are found.

The saga surrounding Hyflux has caught the eye of Singapore's financial regulators, who are looking into whether the water treatment company has breached any rules.

The Monetary Authority of Singapore (MAS) and the Singapore Exchange (SGX) said they are keeping a close watch on developments at the debt-laden business, whose shares have been suspended since May last year pending a restructuring effort.

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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 'Financial regulators keeping close watch on Hyflux saga'. Print Edition | Subscribe