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SIAS concerned over lack of finality on Utico's offer

Hyflux says deal is still on and both sides continue to negotiate and hope to sign a definitive agreement soon

Published Wed, Nov 20, 2019 · 09:50 PM

Singapore

SECURITIES Investors Association of Singapore (SIAS) founder and CEO David Gerald on Wednesday said SIAS is "seriously concerned that there is no finality yet on Utico's offer" for Hyflux.

In a letter to the media, he highlighted that while Hyflux and the various creditor groups have been working within the timelines set by the Singapore High Court to finalise a deal, "changes have been repeatedly introduced at the eleventh hour by the investor".

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