Istithmar re-opens old wounds in Singapore

Istithmar has initiated legal action against Hyflux over the exercising of warrants on Hyflux stock. Could this be the final parting shot as the Dubai investor liquidates its investment to pay creditors?

Hyflux is facing a legal action mounted by its former joint-venture partner and shareholder Istithmar World PJSC, which alleges that Hyflux breached terms and conditions relating to the exercise of warrants on its stock held by Istithmar.

The originating summons was served on 31 December 2009, and according a statement from Hyflux, Istithmar – which functions as an investment arm of Dubai...

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