Who owns Hyflux Singapore?
Who owns Hyflux Singapore?
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.
Is Hyflux still operating?
Hyflux will finally go into liquidation after the High Court ruled in favour of winding up the troubled water treatment firm. However, observers warn that retail investors may not get back the money they have poured in.
What caused the downfall of Hyflux?
Founded in 1989 by Olivia Lum, Hyflux was once seen as a star. Its water treatment and desalination technologies were considered crucial to resource-poor Singapore as it pursued self sufficiency in water. But the company collapsed borrowing heavily to grow and a failed foray into power generation in 2016.
How Hyflux was brought down by its ambition?
Hyflux relied on the desal experience of Suez, its partner in the bidding consortium, to win the project at a record-breaking low price. Suez then ran into financial difficulties and decided to exit the project, leaving Hyflux as the sole developer. Suddenly Hyflux was a giant of the global desal industry.
What happened to Hyflux Olivia Lum?
In 2018, Lum resigned from this position citing business commitments as her reason for resignation. In May 2018, Hyflux applied to the Singapore High Court for a 30-day protection against creditor claims to allow the company time to reorganize its liabilities.
What is the status of Hyflux?
On Nov 16, 2020, Hyflux is placed under judicial management after another failed attempt for an adjournment to the judicial management application.
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.
What happen to Hyflux now?
Who founded NEWater?
NEWater’s genesis dates back to the 1970s, when the Singapore government commissioned a study to determine the feasibility of producing reclaimed water.
Why is NEWater expensive?
While NEWater is cheaper to produce, there is a limit to recycling used water in NEWater plants, he added. As the proportion of used water being reclaimed for NEWater increases, effluent becomes more concentrated, hence more difficult and costly to process.
When did NEWater start?
In 2003, we launched NEWater to the Singaporean public, with the opening of the first two NEWater plants at Bedok and Kranji, and the NEWater Visitor Centre, a water museum to showcase our journey towards water sustainability.
Is NEWater cheaper than desalination?
Producing NEWater is both cheaper and more energy-efficient than desalination.