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|Day's range||0.2100 - 0.2200|
|52-week range||0.2100 - 0.2200|
|Beta (3Y monthly)||N/A|
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SINGAPORE (Dec 4): Malayan Banking has granted a third deadline extension to Hyflux in its search for a buyer for the loss-making Tuaspring water and power plant. The creditor deadline will be extended to Dec 28 from Nov 29, Hyflux announced in a regulatory filing on Tuesday. In the original deal reached with Maybank in July, Hyflux had until Oct 15 to execute a binding agreement with a successful bidder for Tuaspring.
SINGAPORE (Nov 21): Hyflux says buyers of its 200,000 cubic metres/day seawater desalination plant at Souk Tleta in Tlemcen, Algeria, has purportedly issued a notice of termination for the existing water purchase agreement. In a Tuesday filing, the water-treatment and power company says Almiyah Attilemcania SpA (AAS), the company responsible for the development of the project, and 30% owned Tlemcen Desalination Investment Company SAS (TDIC) and the 51% shareholder in AAS, had separately received the notice of termination. The Souk Tleta plant supplies water to Algérienne des Eaux, the state-owned national water company of Algeria, and Sonatrach, the national oil company.
SINGAPORE (Nov 20): Hyflux has agreed to sell its 50% stake in PT Oasis Waters International, a manufacturer and distributor of bottled drinking water in Indonesia, for $32 million. This is below Oasis Waters’ net tangible asset (NTA) value of $32.3 million based on the group’s unaudited financial results for 1Q18, representing a deficit of about $0.3 million in book value. The liquidation move comes as part of the group’s efforts to streamline its business activities, and to re-focus on its core activities in the infrastructure sector, says Hyflux in a filing on Monday.
With lots of uncertainties surrounding the efforts made by the beleaguered Hyflux in trying to stem off possible liquidation threats from creditors, it finally got a lifeline of $530 million from a consortium led by Indonesia-listed Salim Group, and the Medco Group (SM Investments). The former is led by the renowned Indonesian tycoon Anthony Salim, while the latter is an integrated energy and natural resources company which supplies the West Natuna Transportation System Pipeline that delivers gas to Singapore.
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Singapore water treatment firm Hyflux Ltd, which is in the midst of a court-supervised reorganisation, said Indonesia's Salim Group and Medco Group had agreed to acquire 60 percent of the company for S$400 million ($290 million), a move that gives it a lifeline for its struggling business. The new joint venture called SM Investments Pte Ltd has also agreed to give Hyflux a loan of S$130 million, Hyflux and the two Indonesian firms said in a joint statement on Thursday. "The investor was identified by the company through a competitive bidding process undertaken by the company as part of its restructuring plans," Hyflux said, adding that the investors would also give it a S$30 million loan ahead of the proposed equity investment to meet its working capital requirements.
Oct 15 (Reuters) - Hyflux Ltd: * UPDATES ON REORGANISATION PROCESS * UPDATES ON TUASPRING DIVESTMENT PROCESS * CO OBTAINED MAYBANK'S IN-PRINCIPLE APPROVAL FOR EXTENSION TO EXECUTE BINDING AGREEMENT OF ...
Hyflux, the embattled Singapore water-treatment and power company, is in advanced talks with at least two potential investors about taking a strategic equity stake in the group as part of a restructuring plan.
A homegrown Singaporean company that owns one of the financial center’s three seawater desalination plants is struggling to stay afloat. Whether Hyflux Ltd. sinks or swims will matter to creditors and shareholders. Now that Singapore’s old foe Mahathir Mohamad is back as Malaysia’s prime minister, and once again threatening to renegotiate a 1962 agreement to supply raw water to the city-state, making sure the Hyflux plant is owned until 2038 by a friendly buyer could become an issue of national security.
July 6 (Reuters) - Hyflux Ltd: * UPDATES ON REORGANISATION PROCESS * WILL CONTINUE TO SEEK POTENTIAL INVESTORS WITH A VIEW TO DIVESTING ITS INTEREST IN TUASPRING'S INTEGRATED WATER AND POWER PROJECT * ...
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Hyflux Ltd., the Singapore water treatment and power firm, has started a court-supervised debt reorganization process to protect the value of its business after reporting unprecedented losses. Hyflux has also decided not to pay S$14.9 million ($11.1 million) of interest due on May 28 on its perpetual securities, some of which individual investors had bought through ATMs in Singapore two years ago.