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Utico has so far submitted draft term sheet, not binding offer: Hyflux

Published Tue, May 14, 2019 · 09:50 PM

Singapore

NO BINDING offer to invest in Hyflux has been submitted by Utico, Hyflux said on Tuesday, contrary to a Reuters report s published over the weekend.

In the report dated May 12 and titled "UAE's Utico submits binding offer to invest in Hyflux: CEO", Utico's chief executive Richard Menezes told Reuters that the United Arab Emirates-based utility firm had submitted a binding term sheet to Hyflux last week.

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