Corporate digest

Hyflux

UTICO has again extended the deadline of its proposed rescue deal for Singapore's Hyflux, this time by a month. The ailing water treatment company now has until 5pm on Aug 30 to accept the offer.

The offer will remain open for acceptance this month irrespective of whether a judicial manager is appointed or not, the Middle Eastern utility firm said. An unsecured working group of bank lenders is preparing to file an application with the Singapore High Court by Aug 7 to place Hyflux under judicial management.