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Sias clarifies Hyflux stance, supports debt moratorium extension

Published Sun, Sep 29, 2019 · 09:50 PM

Singapore

THE Securities Investors Association (Singapore) or Sias clarified on Sunday in a statement that it does not, in fact, support the Hyflux restructuring agreement by potential white knight Utico at this stage as previously reported.

This comes as the terms of the restructuring agreement have not been agreed by the relevant parties and are pending resolution on certain final outstanding issues, wrote David Gerald, founder and CEO of Sias.

Instead, Sias' support is for the two-month extension of the moratorium which Hyflux is seeking to facilitate negotiations with Utico with a view to finali…

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