Utilities

Hyflux tries to work out survival plan

Hyflux faces fresh potential claims over its plant in Algeria, while the Singapore state utility board and Maybank are taking over its Singapore plant.
Hyflux's desalination plants in Singapore and Algeria are facing creditors' actions.
Hyflux's desalination plants in Singapore and Algeria are facing creditors' actions.
April 23, 2019

As more international creditors lay claims to the troubled Singapore-listed firm, Hyflux is working out a new plan to stave off liquidation. A previous plan to restructure over $2 billion of debt is dead in the water, after Indonesian conglomerates Salim Group and Medco Group announced on April 19 that they had ended plans to rescue the distressed water treatment and power company.

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