S’pore’s Hyflux falls from grace

Poster girl Olivia Lim pays the price for diversifying into energy sector. (File pic shows Hyflux Ltd group chief executive officer (CEO) and president Olivia Lum Ooi Lin holding up a copy of the Executive Inc. magazine featuring herself on its cover during a visit back to her hometown Kampar)

PETALING JAYA: Singapore-listed Hyflux Ltd, a company owned by Malaysia-born Olivia Lum, is facing trouble following its diversification into the power-generation sector.

The company, whose mainstay is in the business of water treatment, is under scrutiny following the sharp fall in the prices of its two financial instruments, namely S$400mil (RM1.18bil) in preference shares and S$500mil (RM1.48bil) worth of perpetual securities.