22 Feb '11, 2pm

[CNA] Libya unrest affects S'pore companies Hyflux, Boustead

SINGAPORE: Unrest in Libya pushed Singapore stocks lower on Tuesday and investors are taking a closer look at Singapore companies with business dealings in Libya such as Hyflux and Boustead. Singapore-listed based infrastructure firm Boustead has evacuated 31 non-Libyan staff, mainly Singaporeans and Malaysians who were operating in Libya. "In light of the recent reports of demonstrations and violence in several major cities in the eastern region of Libya, the company feels that it is imperative to secure the safe return of the Boustead Staff as their safety is paramount," Boustead said in a statement filed on SGX. Boustead has said that it is unable to ascertain the impact that tensions in Libya may have on the completion of an ongoing project. Singapore water firm Hyflux, which has yet to commence construction on its projects in Libya, said in a statement to Channel News...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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