Hyflux gets another potential investor

Unilegend Investments is willing to add in an available working capital to the group.

The struggling water firm Hyflux has received yet another letter of interest from Singapore-based investment holding firm Unilegend Investments, an SGX filing revealed.

The letter to Hyflux stated that Unilegend has plans to carry out seawater desalination projects in Shandong and Tianjin in China and sees great synergies with Hyflux. Upon completion of the said investment, whether by becoming the substantial shareholder of Hyflux or the owner of the debt of the group, they are prepared to make available working capital to the Hyflux Group.

“We also wish to state that we would not consider making this investment if Ms Olivia Lum and her current Management and Board of Hyflux Ltd are removed, or if the Hyflux Group is placed into judicial management or liquidation,” Unilegend Investments added.

Hyflux stated that they will make appropriate announcements as soon as there are further developments on this matter.