Disclaimer: I am not an investment advisor. Heck, i am not even working in the financial industry. Below are my interpretation and i am grateful if you will let me know if anything i say is wrong and i will correct it in a reasonable time. I am not an expert and don't wish to be assumed to be one. I make losses frequently.
The " white knight" may not rescue the princess after all.
On 18 March 2019, Hyflux issued an announcement with the following paragraph:
"Hyflux Ltd or Tuaspring Pte Ltd ceasing or threatening “to cease for any reason to carry on its business in the usual and ordinary course” is a “Prescribed Occurrence” within the meaning of the Restructuring Agreement."
This is in response to PUB's recent announcement about the operational and/or financial defaults of Tuaspring which started since 2017. This "Prescribed Occurrence" allows Salim to walk
