Troubled Hyflux Files Reorganization Plan; Directors Will Contribute Personal Stakes And Entitlements

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SINGAPORE, Singapore

Singapore environmental solutions company Hyflux has filed a proposed reorganization plan with the the country's High Court, following the posting of significant net losses in fiscal year 2017 and subsequent suspension of share trading. Deadlines set by principal creditor, Maybank, have been extended more than once while Hyflux has sought buyers for its key assets and/or partners in a continuing business.