Hyflux reports S$916m impairment for Tuaspring, other assets

Singapore

HYFLUX has taken a S$916 million impairment for the nine months ended Sept 30, to adjust for a fall in carrying value of the Tuaspring water and power plant and other write-downs.

This figure was released on Saturday, after Hyflux submitted its latest statement of financial position to the High Court.

"The impairment loss... relates predominantly to the impairment loss arising from the assessment of the carrying value of Tuaspring and the impairment of receivables for previously completed projects," the water cleaning company wrote.

Hyflux had asked a valuer to conduct an up-to-date valuation of the Tuaspring plant, but no exact figure was shared in the submission.

The plant is part of the Tuaspring disposal group, classified under "held for sale" assets. At the end of March 2018, these assets were assigned a val…