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Maybank gives Hyflux more time to execute agreement for Tuaspring
HYFLUX said on Monday that it has obtained approval from secured lender Maybank to extend the timeline for the divestment of the Tuaspring integrated water and power plant.
Maybank is now giving Hyflux until Jan 31, 2019 to execute a binding agreement with a successful bidder or investor, an extension of the Oct 29, 2018 deadline earlier agreed upon.
Maybank reserves the right to terminate the collaboration agreement if the new deadline is breached.