Utico CEO makes offer for Hyflux 2 days after winding-up application

Singapore

JUST two days after Hyflux Group's judicial managers filed an application to wind up the water treatment company, chief executive officer of Middle Eastern utility firm Utico Richard Menezes is making an attempt to offer the crisis-hit company a rescue deal.

Mr Menezes told The Business Times (BT) that he has reached out to Hyflux's judicial managers with a deal, though he declined to share the exact details.