SINGAPORE (Mar 7): CGS-CIMB Securities is maintaining Ascendas REIT (AREIT) and ESR REIT (EREIT) at “add” despite Hyflux’s debt-restructuring woes.
This was after the Public Utilities Board on Tuesday issued a default notice to Hyflux subsidiary Tuaspring reminding the water company it has to fulfil its contractual obligations.
Prior to the notice, creditors and security holders were asked to file their proofs of claims with Hyflux for its business and debt restructuring exercise.
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