Embattled Hyflux in talks to raise $294m from Middle Eastern utility Utico

A man carrying an umbrella walks along the Jubilee Bridge in front of the city skyline in Singapore. Photographer: Nicky Loh/Bloomberg

Singapore’s Hyflux Ltd., the water and power company battling for survival, said it is in talks with Middle Eastern utility Utico FZC about securing S$400 million ($294 million) of funds, disclosing the identity of the potential investor after receiving a non-binding letter of intent.

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