Maybank gives Hyflux more time to execute agreement for Tuaspring

HYFLUX said on Monday that it has received an additional month from secured lender Maybank to divest the Tuaspring integrated water and power plant.

Maybank is now giving Hyflux until February 28, 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.