SINGAPORE (May 28): Hyflux’s court application for protection while it sorts itself out could be more a result of having overextended itself, rather than just bad conditions. On May 22, in a move that was not entirely unexpected, the water company announced it was seeking a court-supervised process to reorganise its debt and businesses. The court application affords Hyflux protection against any claims from its creditors as it tries to meet debt obligations by selling assets.

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