Singapore's Sembcorp, Malaysia's YTL said to be eyeing $1.1b Hyflux plant

Singapore's Sembcorp, Malaysia's YTL said to be eyeing $1.1b Hyflux plant

The central business district in Singapore. Photographer: Ore Huiying/Bloomberg

Sembcorp Industries Ltd. and Keppel Corp. are among parties planning to study bids for Hyflux Ltd.’s biggest asset, according to people with knowledge of the matter, in a sale that’s key to helping the cash-strapped company get back on its feet.

Hyflux’s Tuaspring project, which includes Southeast Asia’s biggest desalination plant, has also drawn interest from Malaysian generator YTL Power International Bhd., the people said, asking not to be named as the process is private. The asset had a book value of S$1.47 billion ($1.1 billion) at the end of March, according to Hyflux exchange filings.

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