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SIAS calls on Aqua Munda to show 'more transparency' in bid for Hyflux debt

Uma Devi
Uma Devi12/30/2019 04:28 PM GMT+08  • 4 min read
SIAS calls on Aqua Munda to show 'more transparency' in bid for Hyflux debt
SINGAPORE (Dec 30): Securities Investors Association (Singapore) (SIAS) is urging Hyflux’s investor Aqua Munda to be more transparent, referring in particular to its invitation memorandum on Friday.
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SINGAPORE (Dec 30): Securities Investors Association (Singapore) SIAS is urging Aqua Munda, which is trying to buy over Hyflux's debt, to be more transparent in its offer bid, referring in particular to its invitation memorandum on Friday.

“Based on the terms of the invitation memorandum, noteholders are to be aware that the invitation is solely between Aqua Munda and the senior unsecured creditors and does not involve Hyflux,” says SIAS CEO David Gerald in a press statement on Monday.

“Accordingly, SIAS is advised that Hyflux has no obligation to conduct any due diligence on Aqua Munda and is purely facilitating the dissemination of information from Aqua Munda to Hyflux’s creditors,” he adds.

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