SINGAPORE (Mar 28): Hyflux’s white knight SM Investments (SMI) has issued a statement saying it does not agree with the schemes of arrangement of proposed by the water company and that the schemes do not satisfy the conditions of the restructuring agreement.

The latest statement by SMI on Thursday throws the rescue deal agreed between Hyflux and SMI -- a consortium made up of Indonesian conglomerate Salim Group and energy giant Medco Group -- into jeopardy.

See: Hyflux's dispute with its rescuer deepens as deadlines near

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook