Sembcorp, YTL to consider pursuing US$1.1bil Hyflux plant

Officials from Hyflux, a Singapore-based water treatment company, guide Prime Minister Lee Hsien Loong, center, during the official opening of the country's first desalination plant in Singapore Tuesday, Sept. 13, 2005. - AP filepic

SINGAPORE: Sembcorp Industries Ltd and Keppel Corp are among parties planning to study bids for Hyflux Ltd’s biggest asset, according to people with knowledge of the matter, in a sale that’s key to helping the cash-strapped company get back on its feet.

Hyflux’s Tuaspring project, which includes South-East Asia’s biggest desalination plant, has also drawn interest from generator YTL Power International Bhd, the people said, asking not to be named as the process is private. The asset had a book value of S$1.47bil (US$1.1bil) at the end of March, according to Hyflux exchange filings.