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Utico, Johnny Widjaja unveil separate moves to woo Hyflux creditors, debt holders

Fiona Lam

Fiona Lam

Published Thu, Jul 9, 2020 · 09:50 PM
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Singapore

UTICO has revised once again its proposed rescue package for Hyflux, this time by promising a bigger sum for creditors.

In a media statement on Thursday, the Middle Eastern utility firm said it has increased its offer to a minimum of S$485 million comprising cash and stock.

Separately, Hyflux received on Thursday an invitation memorandum from Pison Investments.

Pison is seen as an investment vehicle for Johnny Widjaja, an Indonesian businessman who…

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