Hyflux Thursday rebutted fresh allegations from its now jilted white knight investor, SM Investments, saying the consortium shouldn’t have been surprised by the deal termination.
Troubled Singapore infrastrucure player Hyflux said Thursday the proposed white knight investment from Indonesian consortium SM Investments has been terminated.
Troubled Hyflux disputed in strong terms Saturday allegations from its white knight investor SM Investments that material information was withheld.
Hyflux said Friday PUB gave its Tuaspring plant an extension to fix its service default, easing concerns it might scuttle its restructuring deal.
PUB issued Hyflux’s desalination plant, Tuaspring, a default notice and said Tuesday it would take over the plant if obligations aren’t met.
Consortium SM Investments entered a binding agreement to invest S$530 million for a 60 percent stake in troubled water-treatment and power generation company Hyflux, the…