SIAS concerned over lack of finality on Utico's offer
Hyflux says deal is still on and both sides continue to negotiate and hope to sign a definitive agreement soon
Singapore
SECURITIES Investors Association of Singapore (SIAS) founder and CEO David Gerald on Wednesday said SIAS is "seriously concerned that there is no finality yet on Utico's offer" for Hyflux.
In a letter to the media, he highlighted that while Hyflux and the various creditor groups have been working within the timelines set by the Singapore High Court to finalise a deal, "changes have been repeatedly introduced at the eleventh hour by the investor".
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama