The Independent Singapore News
Hyflux in waiting for their white knight, Utico, to put down $10million.
Hyflux in waiting for their white knight, Utico, to put down $10million deposit as confirmation of restructuring plan
SIAS is requesting for the Middle Eastern firm to put $10 million as a non-refundable deposit into either Utico s solicitor s account or an escrow account by 10 o’clock on the morning of Wednesday, Jul 14. Utico is required to respond to SIAS by Friday (Jul 16).
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Singapore The plan from judicial managers for the liquidation of embattled water treatment firm Hyflux may yet be avoided, provided the company’s would-be white knight puts its money where its mouth is.