Hyflux has agreed to a restructuring deal, with Utico FZC to pay S$300 million for new shares representing 95 percent of the troubled water company.
These are Singapore companies which may be in focus on Thursday, 14 Nov. 2019: Temasek, Yangzijiang, ComfortDelGro, Olam, Keppel and Eagle Hospitality Trust.
Hyflux said Wednesday it remained in negotiations on the key commercial terms for any restructuring agreement it might sign on Utico’s proposed investment.
Utico FZC said Thursday it would lower its bid for Hyflux to S$200 million to the senior unsecured creditors and a S$100 million shareholder loan if a deal isn’t signed by early next week.
These are Singapore companies which may be in focus on Thursday, 24 October 2019: CapitaLand, City Developments, AIMS APAC REIT, ST Engineering and Hyflux.
These are Singapore companies which may be in focus on Tuesday, 1 October 2019: BreadTalk, Genting Singapore, Hyflux, First REIT, Sunpower and Spackman.
ESR-REIT said Thursday it has leased around 168,846 square feet of space at 8 Tuas South Lane in a deal lessening the REIT’s dependence on troubled Hyflux.
Hyflux indicated late Wednesday it hasn’t signed a definitive agreement with Utico for an investment, pending resolution on some outstanding issues.
U.A.E.-based infrastructure player Utico FZC said early Tuesday it signed a restructuring agreement to take an 88 percent stake in troubled Hyflux.
Hyflux said Friday it will negotiate exclusively with Utico FZC until the developer’s 26 August deadline to reach a definitive agreement for an investment.
These are Singapore stocks which may be in focus on Thursday, 1 August 2019: SIA, SGX, Hyflux, Singtel, Stamford Land, No Signboard and Soilbuild.
Hyflux said Wednesday it sought clarification from Utico after media reports emerged with conflicting valuations for the UAE-based company’s investment.