Hyflux mulls court protection amidst creditor talks

It will ban creditors from taking action that could hurt the firm's financial standing.

Bloomberg reports that water treatment firm Hyflux is reportedly considering a 30-day moratorium banning creditors from taking action that could deal further damage to the firm's sensitive financial position.

The legal action would give Hyflux room to work out an arrangement with its creditors, insider sources told Bloomberg as the company continues to explore options for managing its growing debt load.

The water treatment firm registered its first annual loss of $22.2m in 2017 since listing with expectations of further damage as an oversupply of gas continues to squeeze earnings from its energy business. Net debt also ballooned to 165 times its earnings before interest, taxes, depreciation and amortisation as of end-March, from around 32 times last year.

Hyflux is also the second worst performing stock on the FTSE Strait Times All Share Index this year after crashing 39%.

Read the full report here.

Photo from Hyflux

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia