Hyflux debt moratorium extended again for 2 months to Aug 2

SINGAPORE: Embattled water treatment firm Hyflux was granted another extension in its debt reprieve from creditors by the Singapore High Court on Wednesday .

Apart from United Arab Emirates utility firm Utico and global multi-strategy investment fund Oyster Bay Fund, WongPartnership lawyer Manoj Sandrasegara, who represents Hyflux, said the company is also in touch with five other unnamed potential investors. A group of bank creditors, for instance, said Hyflux should be kept on a “tight leash” and be granted a moratorium extension of just 30 days.

“A one month timeframe will allow the company to be kept on tight leash. This is important given that the company already had 11 months of moratorium,” said Mr Ng.

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