Parliament: No government bailout for Hyflux and Tuaspring, says Masagos

Debt-laden water treatment company Hyflux and its subsidiary Tuaspring Pte Ltd will not be bailed out by the Government.

The water agency has therefore said that it is willing to waive the compensation sum and purchase the plant at zero dollars, he added. The minister also stressed that PUB's actions do not weaken either Tuaspring or Hyflux, nor do they disadvantage those who have invested in Hyflux. Rather, it is quite favourable to Tuaspring, he said.

Should Tuaspring fail to remedy the defaults, PUB will terminate the agreement and take over the plant.

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