SINGAPORE – United Arab Emirates-based utility Utico is offering some reprieve to the beleaguered 34,000 retail perpetual securities and preference (PNP) shareholders now trying to recover around $900 million they invested in Hyflux.

Utico chief executive Richard Menezes said in a statement on Sunday evening (May 26) that the firm was offering “part cash redemption and also a hope for full redemption with a plan and exit option”.

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