On Monday, Mr Widjaja said in a statement that the company would like to assure perpetual securities and preference (P&P) holders, share holders and other stakeholders that it is aware of the tight timelines and the pressure on Hyflux to undertake and complete its debt restructuring exercise. "Our objective in undertaking the invitation (and if successful) is to facilitate an expedited-basis debt-restructuring exercise that is fair and equitable for all stakeholders," he said. He added that while the company has not addressed the perpetual capital securities and preference shares, it intends to engage with P&P holders through the Securities Investors Association Singapore and its advisors as soon as it can after the close of the invitation. Mr Widjaja has set aside S$200 million to purchase the debts and to provide working capital to the group. His offer is subject to a minimum offered discount of 91 per cent. If he is able to buy out all the senior debt, he can retire Hyflux's debts at a discount and take the company out of insolvency without having to make any payments to holders of Hyflux's perpetuals and preference shares (PnP).