,Singapore

Embattled Hyflux assets may go for less than $200m in liquidation: report

This is only a fraction of the amount creditors are claiming.

Hyflux Ltd. may only get less than $200m after it liquidates its assets, a report from Bloomberg said.

Six bids involving individual assets are already up after Hyflux’s judicial manager Borrelli Walsh Ltd. filed a court application earlier this month to wind up the water-treatment and power company.

The report, stating an unnamed source, said that there’s no specific timeline to sell these assets, but the judicial manager aims to do so as soon as possible.

The small proceeds from the assets would confirm creditors' fears that they may get little back from the company which is about $2.8b in debt. Investors in the once high-flying firm include about 34,000 individuals who put money in products including perpetual notes and preference shares.
 

Join Asian Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

The bank said the merger is crucial in the REIT sector.
The company also experienced a loss of $647m for H1.
Entry submission runs from 6 September 2021 to 7 January 2022.
This is expected to speed up the electronic exchange of trade documents.
The insurer plans to use the fresh capital for product development.
The digital payments platform has teamed up with bolttech for this latest project.
This will take effect on 11 November 2021.
Cigna has operations in seven markets in Asia-Pacific.
Singapore banks are leading the way in adopting alternative reference rates.
8 out of 10 consumers in the region use online platforms to discover items they want to buy. 
ZALORA provides brands with data-driven insights derived from its 2.6 million users.
81% of banks seek to differentiate their customer experience.
The two hope to dispense over US$1b of loans over the next five years.
Mobile wallet adoption in Thailand, Vietnam far exceed those in the US, the UK.