PUB's focus on water security but Hyflux consortium could walk away: Analysts

PUB's announcement that it will take control of the Tuaspring Desalination Plant (above) should the Hyflux subsidiary be unable to cure its defaults by April 5 puts an end to any hopes that retail investors of perpetual securities and preference shar
PUB's announcement that it will take control of the Tuaspring Desalination Plant (above) should the Hyflux subsidiary be unable to cure its defaults by April 5 puts an end to any hopes that retail investors of perpetual securities and preference shares have about holding out for a better deal, analysts say.PHOTO: HYFLUX

Singapore's water security is the only thing that matters, and that is all water agency PUB was concerned about in announcing last night that it would take control of Tuaspring's desalination plant, should Hyflux subsidiary Tuaspring Private Limited (TPL) be unable to cure its defaults by April 5, observers said.

It has also agreed to waive any compensation it could have claimed from the Hyflux unit and is willing to purchase the plant for zero dollars.

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A version of this article appeared in the print edition of The Straits Times on March 22, 2019, with the headline 'PUB's focus on water security but consortium could walk away: Analysts'. Subscribe