Hyflux says nTan fees 'fully justified', terms from Utico 'best possible'

Singapore

HYFLUX believes the advisory fees it has paid to nTan Corporate Advisory are "fully justified" given the latter's exertions on its behalf.

Responding on Wednesday to queries from the Securities Investors Association (Singapore) or Sias, the water treatment firm said that nTan had advised the board in staving off a threat by the unsecured working group (UWG) to place the company under judicial management. The UWG consists of some of Hyflux's unsecured bank creditors.