In a hurricane twist of events, the US$530 million rescue deal from SM Investments to save embattled water treatment firm Hyflux is now off the table.

Hyflux announced the cancellation of the scheduled scheme meetings on April 5 and 8 in a regulatory filing on Thursday noon, just days before the proposed meetings were supposed to happen.

Due to the cancellation of the scheme meetings, shareholders also need not attend the extraordinary general meeting scheduled after the scheme meetings on April 15, the firm said in the statement.

(LINK).