Singapore Regulators Review Hyflux's Disclosure Standards

Singapore authorities said on Tuesday they are reviewing debt-laden water treatment company Hyflux’s accounting and auditing standards to see if the firm has breached any laws, Reuters reported. Hyflux is currently under a court-supervised restructuring process and its recently called-off rescue by an Indonesian investor has thrown the future of the debt-laden company further into doubt. In a joint statement, the Monetary Authority of Singapore, the Accounting and Corporate Regulatory Authority and the Singapore Exchange Regulation said they “are currently reviewing Hyflux-related disclosure issues, as well as compliance with accounting and auditing standards.” The review is “to determine if there have been breaches of listing rules and/or the relevant laws and regulations,” they said, without giving details or saying what had prompted the review. Read more

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