Hundreds of retail investors have opposed a plan by Hyflux to restructure its debt, and some retail investors are contemplating legal action against the Singapore-listed company's board.

The sector has seen a string of defaults and more are sure to follow. But one executive in the industry tells FinanceAsia the turmoil has created a $1 billion opportunity.

Asia’s oil and gas companies have suffered defaults, delayed results and stock price plunges. But their problems are only just beginning.