After a long wait, Hyflux has secured another white knight investor in the hope of a restructuring that will unshackle its odious debt from creditors and give the firm a second chance (Over 400 investors turn up for meetings on Hyflux rescue deal, Jan 21).

United Arab Emirates utility firm Utico has made arrangements for mom-and-pop investors to get up to 50 per cent of their investments, capped at $1,500, to ensure that more small retail investors receive a higher payout than if Hyflux were to be liquidated.

While this may not seem fair to many of the larger creditors, such as banks, the move is likely to gain much support from smaller investors who cannot afford the losses banks can. Still, small investors will still lose quite a bit of their money.

A restructuring of this scale entails compromise and one cannot argue with the logic that we should favour those with less, not those with more.

I commend Utico for looking out for the little guy.

Tan Choong Oon