Mystery firm makes surprise bid for US$1.3b Hyflux debt

Little-known Aqua Munda Pte, which was just incorporated in Singapore on Tuesday, made the offer to buy S$1.8 billion ($1.3 billion) of debt from Hyflux noteholders and unsecured creditors, according to an exchange filing.

SINGAPORE: The saga of Hyflux Ltd., Singapore’s highest-profile debt restructuring case, just took another twist.

A newly incorporated entity made an offer to buy debt of the water treatment company, which was a vaunted symbol of Singapore’s entrepreneurial might until its fall last year.