Hyflux, which was put under judicial management last November, will be fielding several possible bids in the months ahead as it tries to avoid running out of money.
The water-treatment company has at least seven non-binding offers from potential investors, according to two people familiar with the matter. It needs to move fast: the firm had $18.4 million of cash as of Jan 31, enough to survive five months from that date, the people said, asking not to be identified because the matter is private.
The suitors have shown interest in Hyflux as a whole or for some of its assets, but the bids have varying degrees of complexity and many need additional clarification, the people said.
Creditors of distressed Singapore shipping firm Pacific International Lines (PIL) were to have voted yesterday on a restructuring deal that involved a capital injection from a unit of Temasek.. Read more at straitstimes.com.
The Straits Times
Singapore retail investors to vote on fate of struggling shipping firm PIL
Under the terms of PIL s restructuring plan, each holder of unsecured notes would pick one of two options.PHOTO: PIL
UpdatedFeb 1, 2021, 10:42 am
PublishedFeb 1, 2021, 7:36 am SGT
https://str.sg/JKCn
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The Straits Times
DBS, Keppel extend KrisEnergy s revolving credit facility
Keppel, which also owns a 40 per cent stake in KrisEnergy, said the extension will support the latter s efforts to effect a consensual debt restructuring plan.PHOTO: KRISENERGY
Fiona Lam
https://str.sg/JRVC
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