Utico seeks Sias endorsement as potential Hyflux judicial management looms

Singapore

UTICO has urged the Securities Investors Association (Singapore), or Sias, to endorse the Middle Eastern utility firm's proposed rescue package for Hyflux.

The offer could "save" the distressed water treatment firm from judicial management (JM) and guarantee the highest possible recovery for the holders of Hyflux's perpetual securities and preference shares (PnP), Utico said in a press statement on Wednesday.