Tuaspring financing leaves Hyflux exposed
- From: Vol 12, Issue 11 (November 2011)
- Category: General
- Region: Asia
- Country: Singapore
- Related Companies: Hyflux
The financing package for the Tuaspring desal and power plant in Singapore has left Hyflux’s balance sheet dangerously exposed. How much further can the shares fall?
Hyflux’s failure to secure project finance for the power element of its new 318,500m3/d & 411MW power and water project in Singapore means that its balance sheet is now dangerously exposed to a single asset.
The company’s finance costs spiralled by 38% over the first nine months of this year as it scrambled to raise cash to ...
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