Who owns Hyflux now?

Who owns Hyflux now?

YTL Power acquires Hyflux’s Tuaspring power station for S$270m in cash, Companies & Markets – THE BUSINESS TIMES.

Is Hyflux still operating?

On Nov 16, 2020, Hyflux is placed under judicial management after another failed attempt for an adjournment to the judicial management application.

What happened to Hyflux shares?

SINGAPORE — Embattled Singaporean water treatment company Hyflux will go into liquidation after it failed to conclude restructuring negotiations with potential investors, putting an end to the three decade-old company that was once seen a success story for the city-state.

Is Hyflux a listed company?

Hyflux Ltd (Hyflux) was a sustainable products and research company listed on the Singapore Stock Exchange (SGX).

Who are the creditors of Hyflux?

The judicial management application was filed by an unsecured working group (UWG) of creditors made up of seven banks, namely Mizuho, Bangkok Bank, BNP Paribas, CTBC Bank, KfW, Korea Development Bank and Standard Chartered Bank. The UWG holds 55.56 per cent of the senior unsecured debt of Hyflux.

How much did it cost to build the Tuas desalination plant?

Financing Singapore’s biggest desalination plant The total cost for the construction of the integrated desalination and power plant is S$890m ($635m approximately).

Why did Hyflux collapse?

In a letter to shareholders, she explained that “depressed electricity prices in Singapore” had forced the company into its first operating loss last year, and that subsequent improvements in the price had not been sufficient to “restore the Group to its previous levels of profitability”.

Did Temasek invest in Hyflux?

Temasek’s investment in Hyflux was part of an initiative during the early 2000s to invest in Singapore small and medium-sized enterprises (SMEs), to support their growth in promising sectors, such as water technology. Upon completion of its investment objectives, Temasek exited its Hyflux investment.

Why Hyflux is in trouble?

But as Singapore liberalized its electricity market, electricity prices collapsed. With its new business model suddenly in shambles, Hyflux in 2017 fell into a net loss of SG$116 million. In May 2018, the company filed for court protection with debt of SG$2.8 billion.

How is NEWater produced?

NEWater is the brand name given to highly treated reclaimed wastewater produced by Singapore’s Public Utilities Board. NEWater is produced by further purifying conventionally treated wastewater through microfiltration, reverse osmosis and ultraviolet irradiation.

Why is Hyflux in debt?

Hyflux had taken on too much debt, said Pangarkar, and in the power generation sector which was outside its core business of water treatment. He said other mistakes were basing the water price on the price of electricity from its power plant, and not considering the impact of new competitors.

How many desalination plants does Singapore have?

Currently, we have three desalination plants with a combined capacity of 130 mgd that can meet up to 30% of Singapore’s current water demand. Two more desalination plants will be ready by 2020.

Why is NEWater not used for drinking?

However, the high cost of production and unproven reliability meant it could not be rolled out. By the 1990s, the cost and performance of membrane technology improved by leaps and bounds. In 2000, PUB commissioned a full-scale demonstration plant that could produce 10,000 cubic metres reclaimed water a day.

How Hyflux lose money?

Think about it, why were Hyflux investors so badly affected? The simple reason is that they put most of their money into Hyflux! Too much faith has been placed on this “strategic national asset” and the failure of it just proves that even the seemingly safest asset can fail.

When did Hyflux default?

As part of the action to file for a moratorium, Hyflux has also decided to default on the S$14.9 million (US$11.1 million) of interest due on May 28 to holders of its perpetual securities, some of whom are individual investors who bought through Singapore ATMs when the securities were issued in 2016.

What is the difference between desalination and NEWater?

As compared to desalination, NEWater is more energy-efficient and cost-efficient to produce because of the lower salt content in treated used water, as opposed to seawater. NEWater is used for both direct non-potable use (DNPU) and indirect potable use (IPU).

What is NEWater plant?

Who owns the desalination plants in Singapore?

A wholly owned subsidiary of Hyflux, SingSpring won a bid to construct a desalination plant under PUB’s design, build, own and operate (DBOO) model. This plant with a daily capacity of up to 30 million gallons (130,000 m3) of water supplies PUB with desalination water over a 20-year period.

Is water privatized in Singapore?

Singapore imports its entitlement of water from the neighbouring Malaysian state of Johore. Under agreements signed in 1961 and 1962, Singapore can transfer water from Johore for a price of less than 1 cent per 1,000 gallons until the years 2011 and 2061 respectively.

Is Singapore water made of pee?

“Basically, you drink the water, you go to the toilet, you pee and we collect it back and clean it,” he said. Today NEWwater makes up 30% of Singapore’s water, almost all of it used for industrial purposes.