Hyflux fields non-binding bids as cash dries up

The Singaporean water-treatment company currently has at least seven non-binding offers from potential investors.

SINGAPORE: Hyflux Ltd, which was put under judicial management in November last year, will be fielding several possible bids in the months ahead as it tries to avoid running out of money.

The Singaporean water-treatment company currently has at least seven non-binding offers from potential investors, according to two people familiar with the matter. It needs to move fast: the firm had S$18.4mil (US$13.8mil or RM55.96mil) of cash as of Jan 31, enough to survive five months from that date, the people said, asking not to be identified because the matter is private.