Court gives Hyflux 6-month respite from creditors!!!!

[micromachine]

The High Court has granted Hyflux a six-month lifeline to stave off its creditors.

Now the struggling water project firm must find a buyer for its stake in the giant Tuaspring asset and seek offers from rescue financiers.

Hyflux is seeking to raise about $200 million in rescue financing after the court yesterday granted it a six-month reprieve from creditors to work out a survival plan and reorganise its debts.
Without the debt moratorium, Hyflux would "run out of cash in the next four to five weeks", WongPartnership partner Manoj Sandrasegara told the court.

Hyflux's bank debt is $1.84 billion. That excludes $265 million in outstanding medium-term notes, $400 million in outstanding retail perpetual preference shares and $500 million in retail perpetual securities.

Hyflux and its units under the moratorium had a cash balance of just $18.6 million as of June 4. That represents a net cash outflow of $300,000 since May 18.

More at https://www.prolificcrap.com/forum/current-affairs/court-gives-hyflux-6-month-respite-from-creditors

 

[halsey02]

How much money did Them are Sick & Gee I C, invested in Hifuck'ed?

 

[Leongsam]

She should ask Madam Ho for some money she often gives away billions while expecting nothing in return.

 

[halsey02]

She should ask Madam Ho for some money she often gives away billions while expecting nothing in return.

She already gave, I am sure..."Oliver or is it Olivia" can't be asking for more gruel, in the poor house?"

 

[Scrooball (clone)]

6 months reprieve. Their debts are into the BILLION mark, u think 6 months can solve such a problem?

Pity the Sinkies who got shafted badly from investing in this shit company.