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Latest Forum Topics / Hyflux    Last:0.21 --  Post Reply
Hyflux
cheekitlim
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09-Nov-2018 07:46     
 
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 Alert Admin 		Creditors in a mess. Hyflux needs to sort out the good ones from the bad. Another sg bank should come in now to refinance those debts. Win-win in 1-2 years when Tuaspring turns profitable. Good publicity also for the sg bank.

KAMAL0883      ( Date: 08-Nov-2018 11:36) Posted:

5 stars SGX counter debt chasing by creditors and need white knight to rescue not a messsssss then what' s ?

cheekitlim      ( Date: 05-Nov-2018 18:42) Posted:

In the good hands of the white knight now. What mess u want to spread
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Stephenchow
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08-Nov-2018 19:37     
 
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 Alert Admin 		Likely issue, another 3 weeks extension....

The Company wishes to announce that the Company has obtained Maybank' s approval for a further extension of the deadline up to and including 29 November 2018, provided that the terms of the agreement with Maybank shall continue to apply in the meantime (including Maybank&rsquo s right to terminate the collaboration agreement if the new deadline is breached). The Company will provide further details on this application when the Court has given its directions.   
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Maller
Elite
08-Nov-2018 11:39     
 
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 Alert Admin 		Ok, noted. Everyone has rehear views here. Tks

angmohlin      ( Date: 06-Nov-2018 14:21) Posted:

No, I am not shortist, take a look of this blog from many victims.
https://t.me/hyflux_retail

Maller      ( Date: 04-Nov-2018 00:05) Posted:

The intention is not to let Hyflux collapse and to open for trading again. So to reject the proposal will it be any good to the stakeholders? wat is your intention? are u stuck as a shortists
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KAMAL0883
Supreme
08-Nov-2018 11:36     
 
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 Alert Admin 		5 stars SGX counter debt chasing by creditors and need white knight to rescue not a messsssss then what' s ?

cheekitlim      ( Date: 05-Nov-2018 18:42) Posted:

In the good hands of the white knight now. What mess u want to spread?

KAMAL0883      ( Date: 05-Nov-2018 12:36) Posted:

WHO COULD EXPECT THIS FORMELLY 5 STARS SG BLUE CHIP COMPANY CAME INTO SUCH A MESS TODAY.

THANKS TO OL !!!!!!
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Stephenchow
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07-Nov-2018 23:03     
 
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 Alert Admin 		Guess cash is running very low.
Still no update on Malaysian bank talk. Like blackbox operation, with little information on financial position, likely to face opposition from creditors especially bankers.

 
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Stephenchow
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07-Nov-2018 22:33     
 
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 Alert Admin 		DIP and extension application:-
http://infopub.sgx.com/FileOpen/Hyflux%20Ltd%20-%20SGX%20Announcement%207%20November%202018.ashx?App=Announcement& FileID=532808

Next Hearing:- 26 Nov 2018   
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angmohlin
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06-Nov-2018 14:21     
 
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 Alert Admin 		No, I am not shortist, take a look of this blog from many victims.
https://t.me/hyflux_retail

Maller      ( Date: 04-Nov-2018 00:05) Posted:

The intention is not to let Hyflux collapse and to open for trading again. So to reject the proposal will it be any good to the stakeholders? wat is your intention? are u stuck as a shortists?

angmohlin      ( Date: 03-Nov-2018 15:19) Posted:



As per AR, total 16,936 shareholders, 20,104 preference shareholders, so far no information from the AR the exact number of Percapsec holders. During the Town Hall meeting understand total about 34k holders for PS & Percapsec which means about 13,896 Percapsec holders. Given the widespread of stakeholders, I think Hyflux got hardship to obtain approval for the reorganisation proposal during the EGM. Let' s spread the word out to vigorously reject the proposal.


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cheekitlim
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05-Nov-2018 18:42     
 
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 Alert Admin 		In the good hands of the white knight now. What mess u want to spread?

KAMAL0883      ( Date: 05-Nov-2018 12:36) Posted:

WHO COULD EXPECT THIS FORMELLY 5 STARS SG BLUE CHIP COMPANY CAME INTO SUCH A MESS TODAY.

THANKS TO OL !!!!!!
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KAMAL0883
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05-Nov-2018 12:36     
 
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 Alert Admin 		WHO COULD EXPECT THIS FORMELLY 5 STARS SG BLUE CHIP COMPANY CAME INTO SUCH A MESS TODAY.

THANKS TO OL !!!!!!
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Maller
Elite
04-Nov-2018 00:05     
 
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 Alert Admin 		The intention is not to let Hyflux collapse and to open for trading again. So to reject the proposal will it be any good to the stakeholders? wat is your intention? are u stuck as a shortists?

angmohlin      ( Date: 03-Nov-2018 15:19) Posted:



As per AR, total 16,936 shareholders, 20,104 preference shareholders, so far no information from the AR the exact number of Percapsec holders. During the Town Hall meeting understand total about 34k holders for PS & Percapsec which means about 13,896 Percapsec holders. Given the widespread of stakeholders, I think Hyflux got hardship to obtain approval for the reorganisation proposal during the EGM. Let' s spread the word out to vigorously reject the proposal.

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ysh2006
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03-Nov-2018 15:27     
 
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 Alert Admin 		Usually majority SH win the EGM votes minority no matter how to vote still lose ?.. this time difference the institution SSH will join retailers too to reject this too ?

angmohlin      ( Date: 03-Nov-2018 15:19) Posted:



As per AR, total 16,936 shareholders, 20,104 preference shareholders, so far no information from the AR the exact number of Percapsec holders. During the Town Hall meeting understand total about 34k holders for PS & Percapsec which means about 13,896 Percapsec holders. Given the widespread of stakeholders, I think Hyflux got hardship to obtain approval for the reorganisation proposal during the EGM. Let' s spread the word out to vigorously reject the proposal.

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angmohlin
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03-Nov-2018 15:19     
 
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 Alert Admin

As per AR, total 16,936 shareholders, 20,104 preference shareholders, so far no information from the AR the exact number of Percapsec holders. During the Town Hall meeting understand total about 34k holders for PS & Percapsec which means about 13,896 Percapsec holders. Given the widespread of stakeholders, I think Hyflux got hardship to obtain approval for the reorganisation proposal during the EGM. Let' s spread the word out to vigorously reject the proposal.
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ftokiat600
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03-Nov-2018 15:00     
 
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 Alert Admin 		what is super priority debt means ?
can any kind soul explain ?
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Qanghoo
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03-Nov-2018 13:32     
 
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 Alert Admin 		Yep, it was 2.7 mil before ABL crash. 

Stephenchow      ( Date: 03-Nov-2018 13:28) Posted:

Blumont now only $0.002. Somone who own 1m Blumont share = $2,000 equivalent to my 10k Hyflux share before suspension. 

Qanghoo      ( Date: 03-Nov-2018 13:03) Posted:

Pre-crash Blumont was 2.70/share? x billions
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Stephenchow
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03-Nov-2018 13:28     
 
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 Alert Admin 		Blumont now only $0.002. Somone who own 1m Blumont share = $2,000 equivalent to my 10k Hyflux share before suspension. 

Qanghoo      ( Date: 03-Nov-2018 13:03) Posted:

Pre-crash Blumont was 2.70/share? x billions?

Stephenchow      ( Date: 03-Nov-2018 08:46) Posted:

0.35 x billions of shares (conversion from debt)  = immediatly becoming a billion dollars company overnight. Have never seen this before, will camp outside exchange to sell my share if this happen
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Qanghoo
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03-Nov-2018 13:03     
 
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 Alert Admin 		Pre-crash Blumont was 2.70/share? x billions?

Stephenchow      ( Date: 03-Nov-2018 08:46) Posted:

0.35 x billions of shares (conversion from debt)  = immediatly becoming a billion dollars company overnight. Have never seen this before, will camp outside exchange to sell my share if this happens

Maller      ( Date: 02-Nov-2018 22:45) Posted:

35 cents at least, I think, depending wat is the price they convert the shares. That shd give an indication.   Dyodd 


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cheekitlim
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03-Nov-2018 12:48     
 
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 Alert Admin 		1. Owning a company does not mean you can sell Tuaspring to anyone without PUB's consent. If so, Hyflux could have sold its stake in Tuaspring to foreigners long ago. 2. Creditors forced Hyflux's hand in the first place because they dun want to restructure the debts even though they could. From this exercise, Hyflux will know who are the good ones from the bad ones. There is still a pretty good chance for creditors to give up and make peace now. White knight S&M already appeared, so some banks may end up looking very bad from this and that will affect their reputation. Vultures scatter when the lion appears.

killua      ( Date: 03-Nov-2018 09:54) Posted:

I think Hyflux is getting ahead of themselves.
1. If PUB did not allow foreigners to bid for tuaspring, why would PUB allow a foreigner to own a majority stake in Hyflux altogether? While Indonesia is an ally, you can never say never. Like how Malaysia is insisting that they can reprice the water agreement contract.
2. Creditors are not happy about the extension for 4 months. They feel that this is likely a pointless restructuring.
3. It appears that creditors are leaning more towards forcing Hyflux to sell their assets, which they have a right to.
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ysh2006
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03-Nov-2018 10:15     
 
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 Alert Admin 		Force sell can get money faster, Maybank if don' t it next AGM many investors (Institution) will query chairman.If Hyflux chp 11 will be long long story to recover back money.

playst      ( Date: 31-Oct-2018 17:35) Posted:

Dear Olivia what exactly you want ?

The best course of action is S& M ask Hyflux to sell off Tuas Spring, clear the debt of Maybank, then get S& M $530 million cash injection.

How can S& M expect Hyflux to clear it' s debt if Hyflux want to hold on to Tuas Spring ?

If S& M want to makan Hyflux and take Tuas Spring then S& M should be the one clearing the debt of Maybank as Hyflux now no money liao.
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killua
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03-Nov-2018 09:54     
 
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 Alert Admin 		I think Hyflux is getting ahead of themselves.
1. If PUB did not allow foreigners to bid for tuaspring, why would PUB allow a foreigner to own a majority stake in Hyflux altogether? While Indonesia is an ally, you can never say never. Like how Malaysia is insisting that they can reprice the water agreement contract.
2. Creditors are not happy about the extension for 4 months. They feel that this is likely a pointless restructuring.
3. It appears that creditors are leaning more towards forcing Hyflux to sell their assets, which they have a right to.
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Observers
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03-Nov-2018 09:39     
 
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 Alert Admin 		No need to get other creditors' approvals? All these assets can potentially be sold to redeem existing debt.

Stephenchow      ( Date: 03-Nov-2018 08:40) Posted:



Pursuant to the terms of the DIP loan agreement, Hyflux said in the latest SGX filing that it has made an application to the court under Section 211E(1) of the Companies Act for this loan to be secured by &ldquo way of first priority fixed charges&rdquo over certain properties of the company.

These include all of the company&rsquo s ordinary shares in HyfluxShop Holdings, all of its 6 per cent cumulative non-convertible non-voting perpetual preference shares in the capital of HyfluxShop Holdings, alongside all of its shares in two wholly-owned subsidiaries Spring China Utility and NewSpring Utility. 
Under Section 211E, the court can grant rescue-capital providers &ldquo super priority&rdquo , or seniority claims, on a company' s assets over existing creditors. 

 

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