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Hyflux receives letter of intent for potential investment from unnamed China-based suitor

Hyflux receives letter of intent for potential investment from unnamed China-based suitor

SINGAPORE: Another potential suitor has knocked on the doors of embattled water treatment firm Hyflux with a non-binding letter of intent for a possible investment.

The China-based investor, whose name was not revealed in the exchange filing on Saturday (Jun 15), was described as a subsidiary of a state-owned enterprise in the industrial field which works on a global scale to provide comprehensive power services.

The investor’s holding company also has expertise in wind and solar energy solutions, nuclear industry, medical technology and agriculture, the filing added.

Hyflux said the potential investor previously executed a non-disclosure agreement and has started preliminary due diligence on the group.

The investor has also “reserved its right to terminate discussions” if a judicial manager or liquidator is appointed over Hyflux or its subsidiaries.