Financial Reorganisation Exercise

The Reorganisation Process

  Query Hyflux’s Response What is this reorganisation process that has been commenced and why? The oversupply of gas in the Singapore market has resulted in depressed electricity prices which has adversely impacted TuaSpring’s financial performance in 2017 and in the first quarter of 2018. As Hyflux operates in a capital intensive industry, Tuaspring’s negative […]

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For Creditors

Query Hyflux’s Response When will Hyflux announce its reorganisation plans? When do I know if I am getting my money back? The reorganisation process, being court-supervised, is a structured one that will include court orders and directions setting various milestones in the process. As the formulation of the viable plan would involve input from creditors […]

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For Key Customers

Query Hyflux’s Response Is Hyflux still able and committed to deliver our projects – should we consider suspending or terminating our ongoing contracts? Please rest assured that Hyflux values you as a key stakeholder, and wants to continue our existing good business relationship. We will work with you to ensure that any concerns you may […]

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For Key Vendors / Suppliers

Query Hyflux’s Response Will I be paid? The reorganisation process is being carried out under the supervision of the Singapore Court, and we have to be accountable to all stakeholders and the regulators for payments made during this period. Such payments are subject to the scrutiny of the court. We have been advised to only […]

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For Shareholders And Holders Of Securities

  Query Hyflux’s Response Can I bring any claims under the securities I hold? Although a moratorium is in place, a creditor who wishes to commence proceedings against Hyflux is not without recourse as he may apply to court for leave to do so. However, we are not able to comment on the likelihood of […]

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Information on the Court Process

Query Hyflux’s Response Where can I get updates on the court proceedings? Following the applications made on 22 May 2018, Hyflux has published a notice of the application in the Government e-Gazette on 28 May 2018 and the Straits Times on 25 May 2018. A hardcopy notice of the application will be published in the […]

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