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.