In October 2018, Water. Desalination + reuse (Faversham House) reported, citing the Business Times of Singapore, that Sembcorp was the sole remaining bidder for Tuaspring, owned by Hyflux, and had offered less than book value. Tuaspring combined a 318,500 m³/day desalination plant with a 411 MW power station. Hyflux had launched the sale in July 2018 in agreement with lender Malayan Bank. The Public Utilities Board had cleared only Sembcorp and Keppel Corporation to bid. The bid was not enough to repay the bank in full.
The report showed how the restructuring of a major desalination supplier in Singapore put the sale of a key plant under time pressure while the circle of approved buyers stayed small.