Hyflux's reluctant white knight should not use PUB as an excuse to back out of its investment agreement with the water company, the national water agency said on Thursday.HYFLUX's reluctant white knight should not use PUB as an excuse to back out of its investment agreement with the water company, the national water agency said on Thursday.
In any case, PUB is waiving its compensation claim from Tuaspring Pte Ltd, which is understood to be a three-digit million figure, since it faces a low chance of recovery as an unsecured creditor. A termination of the water contract"may entitle" Salim-Medco to terminate the rescue deal, Hyflux said. Its plant capacity is equivalent to 16 per cent of Singapore's daily water demand of 430 million gallons a day .
The desalination plant is expected to keep running at a loss unless the concession company is able to bargain with PUB for higher water tariffs.
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