Hyflux's cash flow runs dry

While Tuaspring is the millstone around Hyflux's neck, the overseas contracts were the first to show cracks

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Ms Lum's bet on developing membranes and materials technologies for water treatment had paid off quickly. Indeed it was like a corporate fairy tale come true for this home-grown company with a string of high-profile project wins.

In 2001, it won the tender to supply and install equipment for the country's first Newater plant. In 2003, it clinched the project to build, own and operate SingSpring.

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A version of this article appeared in the print edition of The Sunday Times on August 05, 2018, with the headline Hyflux's cash flow runs dry. Subscribe