What is Olivia Lum doing now?
Lum is still executive chairman and group chief executive officer of Hyflux. One independent director fell out with the board and resigned and the other members remain unchanged.
What caused Hyflux downfall?
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.
Is Hyflux listed?
On Nov 16, 2020, Hyflux is placed under judicial management after another failed attempt for an adjournment to the judicial management application.
Who owns Hyflux Singapore?
Following the purchase, YTL PowerSeraya is now one of Singapore’s largest power generation companies by registered capacity, based on Energy Market Authority statistics as at March 2021.
Who owns Hyflux now?
On 19 October 2018, conglomerate Salim Group and energy giant Medco Group agreed to offer Hyflux a S$400 million equity injection, in exchange for a 60 per cent stake in the company once it has settled all its debts.
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.
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).
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 many NEWater plants does Singapore have?
The NEWater process recycles our treated used water into ultra-clean, high-grade reclaimed water, cushioning our water supply against dry weather and moving Singapore towards water sustainability. There are currently 5 NEWater plants in operation.
Is Hyflux liquidated?
Hyflux went into liquidation in July last year after it failed to conclude restructuring negotiations with a slew of potential investors, putting an end to the three decade-old company that was once seen as a Singapore success story.
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.
How many NEWater plants are there in Singapore?
5 NEWater plants
The NEWater process recycles our treated used water into ultra-clean, high-grade reclaimed water, cushioning our water supply against dry weather and moving Singapore towards water sustainability. There are currently 5 NEWater plants in operation.
Who owns Hyflux?
Why is NEWater not sold?
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.
Is Hyflux owned by Temasek?
For example, Temasek invested in Hyflux in 2003 as part of an ‘initiative to support the growth of small and medium-sized enterprises in promising sectors. ‘ By 2006, Temasek exited the company after ‘completing its investment objectives.