Hyflux cut-off for Tuaspring sale is extended a third time

Hyflux has received a third extension from its creditor Malayan Bank on the sale of Tuaspring desalination plant.

The deadline for a deal is now 28 December 2018. It was previously extended to 15 October, then 29 November.

Hyflux wants to sell the desalination plant as part of a restructuring announced in May 2018.

The backstory

Hyflux wins a month’s extension on sale of Tuaspring (11 November 2018)

Hyflux to sell controlling stake for $290 million (October 2018)

Sembcorp’s solitary offer for Tuaspring falls short of book value (October 2018)

Hyflux applies to High Court for moratorium on action against subsidiaries (May 2018)