Desal plants up for sale as Hyflux collapses

摘要

The tussle for the portfolio of often-controversial water plants developed by Singaporean developer Hyflux is set to start after the troubled company was put into liquidation earlier this month. The company's judicial managers filed a court application for liquidation after the single remaining rescue offer which intended to keep Hyflux together as a single entity fell apart. The decision came after more than two years of attempts to restructure the company, and after a large fortune was spent on professional services. In an announcement made to the Singapore Stock Exchange, judicial manager Borrelli Walsh said the liquidation move was the best way to "realise the remaining value of the Hyflux Group". Once the high court approves the application process, the sale of the compa ny's remaining assets can begin.