Hyflux debt crisis could lead to lawsuit

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.
Singapore has seen several bond defaults in the past few years
Singapore has seen several bond defaults in the past few years

Retail investors have expressed unhappiness over Hyflux’s proposed plan to restructure its debt of more than S$2.8 billion $2 billion. One retail investor told FinanceAsia that a possible lawsuit against the Singapore-listed company’s board of directors is brewing.

About 26 retail investors are contemplating legal action against Hyflux’s board of directors for alleged misleading statements and alleged insufficient disclosure.

A number of Hyflux perpetual bondholders are already in talks with lawyers on possible legal action, related to non-disclosure of material information about the group's Tuaspring plant.

Hyflux has not replied to FinanceAsia’s queries.

On March...

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