Hyflux boss will now get just $1 a year

📆 4/26/2019 10:23 AM
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The highly paid boss of Hyflux will now get just $1 a year as she tries to save the debt-laden water treatment company. Chief executive Olivia Lum made the disclosure in an affidavit yesterday, the same day the firm announced that a new white-knight has appeared on the...

In 2017, when Hyflux reported losses of $115.6 million, Ms Lum received between $750,000 and $1 million in salary, benefits and bonuses, Sias noted.

Hyflux described the potential investor as a developer and owner of water and power utilities based in the Middle East with a reputable track record, but its exchange filing yesterday did not identify the firm. The banks are Mizuho Bank, KfW IPEX-Bank, Bangkok Bank Public Company, BNP Paribas, CTBC Bank, The Korea Development Bank as well as The Korea Development Bank Singapore branch.

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SM Investments to sue Hyflux for alleged breach of agreementFORMER white knight SM Investments (SMI) will sue debt-laden Hyflux for cancelling the S$530 million rescue deal, it said in a statement on Friday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »