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Hyflux to hold FY2018 AGM by Dec 31
HYFLUX must hold its FY2018 annual general meeting (AGM) by Dec 31, 2019 and file its 2018 annual return by Jan 31, 2020 after the Accounting and Corporate Regulatory Authority (Acra) granted it a two-month extension, three months less than what Hyflux had requested.
Hyflux also requested to extend its FY2019 AGM deadline to June 30, 2020 and to file its annual return with Acra by July 31, 2020. Acra had rejected the 2019 extension requests, the troubled water treatment firm said in a bourse filing on Tuesday night.
Separately, the Singapore Exchange (SGX) had granted Hyflux further extensions to release its 2018 and 2019 financial results and hold both fiscal years' AGMs.
Hyflux got a further four-month extension from SGX to release its unaudited FY2018 results and hold its FY2018 AGM by March 31, 2020.
However, Hyflux must comply with Acra's shorter deadline of Dec 31, 2019 to hold its FY2018 AGM.
It also obtained four-month extensions from SGX to release its Q1, Q2 and Q3 FY2019 results by March 31, 2020, and a two-month extension to release its unaudited FY2019 results by April 30, 2020.
Additionally, it got a two-month extension to hold its FY2019 AGM by June 30, 2020.
The Singapore High Court had previously granted Hyflux a two-month extension on its debt moratorium until Dec 2. A further hearing is scheduled on Nov 29 to consider any further applications or extensions.
The company said it is working towards a binding investment agreement with a potential investor, understood to be Middle Eastern full-service utility provider Utico.
The timeline to finalise its financial statements have been prolonged due to the reorganisation of its liabilities and businesses, Hyflux added.