Utico says restructuring agreement inked with Hyflux

Singapore

UTICO said it "signed and released" a restructuring agreement with Hyflux on Monday which will give it 88 per cent of the debt-laden water treatment firm.

"The deal finds a resolution for creditors and PNP investors and development projects that have been languishing since the moratorium in May 2018," the Middle Eastern utility firm said in a statement hours after midnight on Tuesday.