Asset sales in a liquidation process at Hyflux, one of Singapore’s highest-profile distressed companies, would likely bring in less than $200 million, a person familiar with the matter said, a fraction of the amount creditors are claiming.

Hyflux’s judicial manager Borrelli Walsh filed a court application earlier this month to wind up the water-treatment and power company, and said there are six bids involving individual assets.

There’s no specific timeline to sell these assets, but the judicial manager aims to do so as soon as possible, according to the person, who asked not to be identified because the matter is private.

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