SIAS asks Utico, Hyflux to clarify scheme terms for PnP investors

Singapore

THE Securities Investors Association (Singapore) or SIAS is seeking clarification on several terms of Utico's proposed rescue deal for holders of Hyflux's perpetual securities and preference shares (PnP).

Certain statements were made during the Jan 20 town hall by the Emirati utility's team "which were either different from what SIAS understands the position to be or require clarification", said David Gerald, SIAS founder and president, in a statement on Tuesday.