Singapore’s Hyflux Faces Liquidation After Investor Talks Fail
- Firm began restructuring in 2018, judicial management in 2020
- Some 34,000 retail investors, creditors face uncertainty
Photographer: Munshi Ahmed/Bloomberg
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Singapore’s highest-profile distressed company Hyflux Ltd. is headed for a potential piecemeal selloff of its assets, capping a years-long saga that has left retail investors and creditors in the lurch.
The judicial manager in charge of the water treatment company since November said that “the remaining value of the Hyflux Group are best realized in a liquidation,” according to a statement late Friday. Such a move would aid the sale of individual assets after negotiations with a potential investor to take over the entire group failed, the manager Borrelli Walsh Ltd. said.