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

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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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