Hyflux has at least 7 non-binding offers as cash runs out
Hyflux, which was put under judicial management last November, will be fielding several possible bids in the months ahead as it tries to avoid running out of money. The water-treatment company has at least seven non-binding offers from potential investors, according to two people familiar with the matter. It needs to move fast: the firm had $18.4 million of cash as of Jan 31, enough to survive five months from that date, the people said, asking not to be identified because the matter is private. The suitors have shown interest in Hyflux as a whole or for some of its assets, but the bids have ...
Source: straitstimes.com