Utico said the latest offer gives a chance of a higher recovery for retail investors in Hyflux, without giving any details. Hyflux has attracted several other suitors, complicating a final rescue deal.
Hyflux said last month that it had received a letter from Johnny Widjaja expressing an interest in investing up to $300 million in the group “by the most expedient manner possible, including buying up the existing debt.”
Spain’s FCC Aqualia SA and Singapore-based Longview International Holdings Pte have separately announced their interest in investing in the crisis-hit company, while little-known Aqua Munda Pte in December offered to purchase debt of Hyflux noteholders and unsecured creditors.
