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Hyflux has at least seven non-binding offers as cash runs out

Bloomberg
Bloomberg3/4/2021 8:19 AM GMT+08  • 2 min read
Hyflux has at least seven non-binding offers as cash runs out
Hyflux is Singapore’s most high-profile debt-restructuring case that has dragged on.
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Hyflux Ltd., which was put under judicial management in November last year, currently has at least seven non-binding offers from potential investors, according to two people familiar with the matter.

While it fields those offers, the Singaporean water-treatment company’s cash is becoming depleted: it 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.

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