Business

PUB rejects Hyflux potential white knight investor Utico’s bid to delay Tuaspring desalination plant takeover

Singapore’s national water agency Public Utilities Board (PUB) has rejected Emirati utilities group Utico’s request to delay the statutory body’s takeover of beleaguered water treatment firm Hyflux’s Tuaspring desalination plant due tomorrow (18 May). PUB told The Straits Times that it will stand by “all the announcements that have already been made about PUB taking over the Tuaspring Desalination Plant”. …

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Singapore-based maritime carrier PIL received loans from Temasek Holdings last year, sovereign wealth fund holds shares in company as collateral

Singapore-based maritime containerline Pacific International Lines (PIL) received “previously unreported loans” from the Republic’s sovereign wealth fund Temasek Holdings in the form of hedge funds last year. Citing world maritime news platform Alphaliner‘s latest weekly report, international maritime and shipping news platform Splash 24/7 added that in return, PIL, the 10th largest ocean carrier globally, had pledged its shares to …

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Third potential white knight investor for Hyflux makes non-binding letter of intent for overseas assets

Debt-laden water treatment firm and genco Hyflux has received yet another non-binding letter of intent from its third potential white knight investor, which has yet to be named. The company revealed the development in a Singapore Exchange announcement yesterday afternoon (15 May), during which it indicated that the potential new investor is the one of the top 10 largest desalination …

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Lazada and Shopee, top e-commerce mobile shopping apps in Southeast Asia, according to market survey by iPrice Group and App Annie

In today’s rapidly growing e-commerce world, mobile applications play an important role. Based on a report by Google and Temasek, there are more than 350 million internet users in Southeast Asian countries like Singapore, Malaysia, Indonesian, Thailand and Vietnam. More importantly, more than 90% of Southeast Asians connect to the internet mainly through their mobile devices, and this figure is …

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Hyflux saga: Maybank to take over Tuaspring power plant, PUB to take over Tuaspring water desalination plant

Debt-ridden water treatment firm Hyflux will no longer be in charge of its Tuaspring power plant starting this week as Maybank, the company’s largest secured creditor, has appointed receivers and managers from insolvency firm Ferrier Hodgson to seize control of the plant. The Straits Times also reported that the Public Utilities Board, Singapore’s national water agency, will takeover the Tuaspring …

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Hyflux in talks with latest potential white knight investor Oyster Bay Fund

Debt-laden water treatment firm Hyflux has received a non-binding letter of intent from Oyster Bay Fund in a race to secure a new white knight investor before the end of its extended debt moratorium at the end of this month after its termination of a S$380mil bailout deal with Indonesian conglomerate Salim-Medco Group – via its Singapore arm SM Investments …

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No data breach despite unauthorised transactions on Fevo cards: EZ-Link

Following its detection of unauthorised overseas transactions made via the Fevo Mastercard prepaid cards, electronic payment system provider EZ-Link has clarified on Fri (3 May) that no data was compromised in the process. EZ-Link, a subsidiary of the Land Transport Authority (LTA) and Mastercard Worldwide, added that the CEPAS cards were not affected. Responding to queries from The Straits Times, …

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