S$50m adviser fee pot linked to scheme timing, Hyflux asset value: Utico
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Sharon See
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Singapore
HYFLUX'S potential white knight Utico issued a clarification on Sunday saying its Jan 28 letter was clear about its intention to pay S$40 million with respect to the restructuring agreement (RA) and increase it to S$50 million to "save time and hence money by passing the scheme early".
"Having said that, with loss of time, its ability to pay for the deal with value leakage at Hyflux would anyway reduce the pot to S$30 million," the Middle Eastern utility provider said in a statement.
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