Sias to help form informal steering committees of noteholders and securityholders, says Hyflux

THE Securities Investors Association Singapore (Sias) will help form informal steering committees of noteholders and securityholders to help Hyflux engage with these stakeholders during a re-organisation exercise, Hyflux said on Friday.

This follows recent town hall meetings, where Hyflux faced a full house of retail perpetual preference shares and perpetual holders. As it works towards a debt restructuring, Hyflux owes note holders S$265 million. Another S$900 million is owed to perp and pref share holders.

Noteholders and securityholders interested in joining the informal steering committees are to inform Sias by sending their contact details and the details of their security via email to admin@sias.org.sg or by phone (6227-2683) by 4 pm on Aug 2.

"Sias has full discretion to comprise the informal steering committees, and organise them as it considers fit and appropriate in all the circumstances," said the water-project developer.