Hyflux receives overture from yet another Indonesian suitor

-A +A

SINGAPORE (June 26): The long-running restructuring of Hyflux is seeing another twist. 

A new suitor, Indonesian tycoon Johnny Widjaja, has expressed interest to rescue the company by putting in S$300 million to buy up existing debt in exchange for shares and then put in another S$100 million as working capital.

According to Hyflux in an SGX announcement, detailed terms of the proposal have yet been made available.

“Mr Widjaja has further stated, amongst other things, that he would...(click on link for full story on theedgesingapore.com)