and had received separate non-binding letters of intent for investments from global multi-strategy investment fund Oyster Bay Fund and an unnamed China-based suitor., which prevents creditors from taking actions against it until Sep 30.In a sign of waning patience, Utico described the announcements of non-binding letters of intent from the various investors as “a delaying ploy with intent to lose Hyflux valuation and assets/contracts”.
Utico mentioned how it has offered funding for Hyflux’s TuasOne waste-to-energy project in Singapore and the Qurayyat independent water project in Oman. READ: Hyflux’s waste-to-energy project in Tuas ‘closely’ monitored by NEA as firm’s restructuring drags on
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