Hyflux gets two more months of reprieve

Hyflux had asked for a four-month extension on its debt moratorium, saying it was in discussions with other potential investors.
Hyflux had asked for a four-month extension on its debt moratorium, saying it was in discussions with other potential investors.PHOTO: ST FILE

Debt-ridden Hyflux has managed to fend off creditors for two more months until Aug 2, and may get two more months beyond that if it continues to make progress on its restructuring effort.

The High Court gave the extension yesterday after the water treatment firm said it was in discussions with at least seven potential investors, holding weekly meetings with various creditor groups to update them, and also reduced the company's running costs.

Hyflux said it hopes to select an investor by mid-June.

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A version of this article appeared in the print edition of The Straits Times on May 30, 2019, with the headline 'Hyflux gets two more months of reprieve'. Print Edition | Subscribe