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Hyflux gets letter of demand from Maybank for payments 'immediately due and payable'

These include a term loan and letter-of-credit facilities running into the hundreds of millions

Vivienne Tay

Published Fri, Apr 26, 2019 · 09:50 PM

Singapore

HYFLUX'S subsidiary Tuaspring has received a letter of demand from Maybank dated April 23 over payments the bank said were "immediately due and payable".

They comprise S$509.1 million drawn down under term loan facilities, a US$44.5 million cash cover for contingent liabilities, along with further interest and legal costs on a full indemnity basis, the beleaguered water treatment firm said in a regulatory filing late on Thursday night.