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Once Singapore's star company, Hyflux seeks court protection

Water company faced cash crunch after global expansion

Singaporean water treatment company Hyflux faces liquidation unless an extension to its debt moratorium is approved. (Photo by Keiichiro Asahara)

SINGAPORE -- Iconic water treatment business Hyflux has applied for Singaporean court protection to begin a debt and business restructuring designed to cope with the firm's cash constraints, the company said Tuesday night.

The city-state's Companies Act automatically grants Hyflux a 30-day moratorium during which the business receives protection from certain actions by creditors such as forfeiture. Hyflux seeks a six-month moratorium from the court.

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