Hyflux shareholder organising Speakers' Corner protest on 30 March.
A shareholder of embattled Singapore water treatment company Hyflux is planning to stage a protest at Hong Lim Park’s Speakers’ Corner on Saturday against its restructuring plans and recent developments.
Protest days before crucial vote on restructuring planHyflux is currently in the midst of navigating an increasingly challenging attempt to restructure its staggering debts of almost $3 billion. News of the planned protest comes a mere days before a 5 April vote by Hyflux’s creditors on a restructuring plan, which needs at least 50 per cent in number and 75 per cent in value of each creditor class to be passed.
Appeal to PUB for ‘goodwill’Besides venting displeasure over Hyflux’s troubled state of affairs, the protest – which will be held around 3pm – also intends to appeal to the Public Utilities Board for goodwill over what the investors perceive as a raw deal. Far cry from high-profile riseHyflux’s current woes are a far cry from when it became the first water treatment company to be listed in Singapore in 2001. Its profile in the global water industry grew, winning it contracts in China, India and the Middle East.
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