Corporate digest

Hyflux

THE insolvent water treatment firm has received a formal expression of interest from American fund manager Strategic Growth Investments (SGI) to invest at least S$204.78 million.

Senior unsecured creditors will get the lion's share of S$97 million, trade creditors S$15.78 million and the perpetual securities and preference shares (PnP) investors S$32 million - all on a pro-rata basis. Also, it was proposed that S$60 million from the investment be set aside for working capital and any future corporate restructuring.