Some positive news emerged last week on the proposed future flow transaction from water treatment company, Hyflux (see ASR, 10/11/04). Last August, Deutsche Bank Securities was appointed to evaluate the securitization of SingSpring, a wholly owned subsidiary of Hyflux, currently developing the first water desalination plant in Singapore. The plant is contracted to supply water to the Public Utilities Board for the next 20 years.
Initially, Hyflux was targeting completion of a deal by the end of 2004 for accounting reasons. When that deadline passed, there was some speculation about what would happen to the deal.