|Expense ratio (net)||N/A|
|Last cap gain||N/A|
|Morningstar risk rating||N/A|
|Beta (5Y monthly)||N/A|
|5y average return||N/A|
|Average for category||N/A|
The Singapore high court has ordered water treatment firm Hyflux to be placed under judicial management, according to a stock exchange filing on Tuesday, after more than two years of the company unsuccessfully trying to restructure its debt. The court appointed restructuring firm Borrelli Walsh as the judicial manager, which will take over its operations, according to the filing. Debt-laden Hyflux, once seen as a national champion running a strategically important water resource for Singapore, filed for a court-supervised financial restructuring in 2018 and defaulted on its debt payments.
Hyflux Ltd. said it supports Strategic Growth Investments' plan to acquire and privatise the company in a transaction including a cash injection of S$208 million.
Utico FZC., the Middle Eastern suitor for Singapore’s Hyflux Ltd., said the embattled water treatment company delayed a virtual townhall meeting to give a potential rival time to make an offer.