Hyflux saga: Focus needed despite the noise

IN the past few months, developments surrounding troubled water treatment firm Hyflux Ltd have accelerated to the point that stakeholders could be forgiven for being thoroughly confused as to the status of the restructuring that has been proposed, whether white knight investor SM Investments (SMI) will stay or leave, and most importantly, how much money each class of stakeholder could receive, if any.

Aggravating this confusion is widespread speculation, in part brought on by efforts from some stakehol…