What happened to Hyflux?
SINGAPORE — Troubled water treatment company Hyflux will finally go into liquidation now that a court has approved an application for winding up the company, marking the end to a charismatic founder’s once high-flying startup.
How many desalination plant are there in Singapore?
three desalination plants
Currently, we have three desalination plants with a combined capacity of 130 mgd that can meet up to 30% of Singapore’s current water demand. Two more desalination plants will be ready by 2020.
What is Olivia Lum doing now?
Lum is still executive chairman and group chief executive officer of Hyflux. One independent director fell out with the board and resigned and the other members remain unchanged.
Why is desalination method of obtaining drinking water ideal for Singapore?
Unlike the other three taps – imports, rainfall and recycled water – it is a practically limitless source,” said PUB CEO Ng Joo Hee. “It is also weather-resistant and always available, rain or shine, as a source of life-giving water. The availability of desalination makes Singapore’s water supply immensely resilient.
Who owns Hyflux now?
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.
What is a disadvantage of desalination?
Desalination is not a perfected technology, and desalinated water can be harmful to human health as well. By-products of the chemicals used in desalination can get through into the “pure” water and endanger the people who drink it. Desalinated water can also be acidic to both pipes and digestive systems.
Who are the directors of Hyflux?
According to the company’s website, its current board of directors are founder-CEO Olivia Lum, lead independent director Teo Kiang Kok, as well as five other non-executive independent directors Gay Chee Cheong, Lee Joo Hai, Christopher Murugasu, Lau Wing Tat and Gary Kee.
What is Hyflux business?
Hyflux Ltd (Hyflux) was a sustainable products and research company listed on the Singapore Stock Exchange (SGX). The company was founded in 1989 by Olivia Lum, Group CEO, President and Managing Director. The company has been approved to wind up on 21 July 2021.
How much does desalination cost?
Desalinated water typically costs about $2,000 an acre foot — roughly the amount of water a family of five uses in a year. The cost is about double that of water obtained from building a new reservoir or recycling wastewater, according to a 2013 study from the state Department of Water Resources.
Is Hyflux still listed?
On 21 May 2018, the company suspended its shares and applied for court supervision to reorganise liabilities and businesses the next day. On 21 July 2021, Singapore’s high court has approved for Hyflux to wind up and be liquidated with its judicial managers being its liquidators.
Is Hyflux a private company?
Hyflux (india) Private Limited is a Non-govt company, incorporated on 03 Jul, 2003. It’s a private unlisted company and is classified as’company limited by shares’.
Which is the best Hyflux Water Purifier?
Hyflux NANO-1 Integrated Water Purifier System Utilising the famed Hyflux Nano-Fibre filtration technology, this Hyflux product pushes the edge of filtration process to be at level of Ultra-Filtration; you can effectively reduces chlorine from tap water as well as blocking suspended solids and sediments at the same time.
Will Hyflux liquidation be the end of Singapore’s corporate history?
The judicial managers of Hyflux have applied for the water treatment company to be liquidated. Their success would mark an end to one of the most long drawn out, controversial and unfortunate chapters in Singapore’s corporate history.
What happened to Hyflux Water treatment company?
THE Singapore High Court on Wednesday granted an order to wind up beleaguered water-treatment company Hyflux, while former white-knight suitor Utico was ordered to pay S$5,000 to the judicial managers (JMs).
What is the history of Hyflux membrane technology in Singapore?
The first was the Bedok NEWater project in 2001. Hyflux was in those days still a small local membrane systems supplier, but Singapore President Lee Kwan Yew wanted a local player involved in the revolutionary water recycling project, and Lum was able to join the consortium of Suez and Zenon.