Hyflux disputes several statements by suitor Utico

Singapore

DISTRESSED water-treatment company Hyflux has disputed several statements made by its Emirati suitor Utico in a letter published over the weekend, including that various groups of creditors are working with Hyflux and Utico in tandem, and that Utico is the only potential investor with a firm binding offer.

Mainboard-listed Hyflux, in a regulatory statement to the Singapore Exchange on Tuesday, publicly disagreed with Utico's version of events related to its restructuring efforts.