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runaway Senior	18-May-2019 07:28        runaway About Contact  Quote this Post!
x 0   x 0  Alert Admin	Water is a strategic asset. It will never fall into a foreign hand. Desalination plant is now owned by  PUB. 公 用 事 业 局 今 天 起 接 管 凯 发 大 泉 海 水 淡 化 厂 https://www.zaobao.com/realtime/singapore/story20190518-957376?utm_source=ZB_iPhone& utm_medium=shares
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enjoylife77 Veteran	18-May-2019 04:34        enjoylife77 About Contact  Quote this Post!
x 0   x 0  Alert Admin	pub-takes-over-tuaspring-desalination-plant-from-hyflux
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Stephenchow Veteran	17-May-2019 20:32        Stephenchow About Contact  Quote this Post!
x 0   x 0  Alert Admin	The Plant is definitely built with money from Malaysian bank. If not, they shouldn' t be able to claim back the power plant so easily.  Next week, will see which white knight (or cuckoo) still  interested in investing in the company. Most likely go for toilet break and then run away like Selamat using toilet papers.  .
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destinykraze Elite	17-May-2019 15:39        destinykraze About Contact  Quote this Post!   Yells: "Reality is only a matter of perception"
x 0   x 0  Alert Admin	A final nail to the coffin so those deluded members won' t post nonsense again. Source :https://www.businesstimes.com.sg/companies-markets/hyflux-suitor-utico-seeks-delay-over-water-unit-pub-says-no Hyflux is not legally obliged to pay its PNP investors under current conditions, Utico noted: " This is compounded further if the company is either sold to funds, to investors seeking overseas assets or goes into judicial management. In case these investors are too deluded and have clouded judgement, thus difficulty in reading a simple sentence. In layman' s terms the quote above means. under current condition, it is unlikely for Perp. securities holder to receive even 1 cent.    < --imho, getting back 3% cash here is already close to impossible at this stage. If the company assets are being taken apart( like what would happen tomorrow), will make the situation worse. < -- can forget about getting even 1 cent back. There are still people dreaming about getting 100% + interest back. Better wake up!
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destinykraze Elite	17-May-2019 14:10        destinykraze About Contact  Quote this Post!   Yells: "Reality is only a matter of perception"
x 0   x 0  Alert Admin	Tuaspring desalination plant is the biggest asset hyflux has. Utico wants to    negotiate because the plan was to acquire this assets as well. With it gone, most of the " white knights" should scatter, even if any more pops up. They have nothing to do with perp. holders as the amount probably can' t even cover Maybank' s account. guards80      ( Date: 16-May-2019 19:13) Posted: http://www.channelnewsasia.com/news/business/hyflux-s-uae-investor-plans-to-meet-retail-investors-asks-pub-to-11540006 guards80      ( Date: 16-May-2019 19:11) Posted: Utico says it has asked PUB if it can delay the takeover of Tuaspring desalination plant, which is scheduled to happen this Saturday.
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destinykraze Elite	17-May-2019 13:57        destinykraze About Contact  Quote this Post!   Yells: "Reality is only a matter of perception"
x 0   x 0  Alert Admin	Good news is everything more or less finalized. Now that pub is taking back the TS plant, the rest will fall in place. Unlikely, to see results that will benefit unsecured loans even if any more " white knight" appears. The below summarized everything. But PUB says no. A PUB spokesman told The Business Times: " We stand by all the announcements that have already been made about PUB taking over the Tuaspring desalination plant. " The Water Purchase Agreement will be terminated on May 17 and PUB will take over the Tuaspring desalination plant on May 18."
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destinykraze Elite	17-May-2019 13:48        destinykraze About Contact  Quote this Post!   Yells: "Reality is only a matter of perception"
x 0   x 0  Alert Admin	Go back to telegram and tell the group. If they stop dreaming, they still can save themselves. Be more cautious and know what you are buying. Bought junk bonds without thinking, now blames the whole world for it. dc_rw73      ( Date: 17-May-2019 12:30) Posted: If hyflux debts were used to build TS and PNP money was used to pay hyflux debts, isn't it PNP money was also use to build TS? destinykraze      ( Date: 17-May-2019 10:59) Posted: TS is not built with PNP money. Perp security holders' money is used to pay hyflux debts
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destinykraze Elite	17-May-2019 13:45        destinykraze About Contact  Quote this Post!   Yells: "Reality is only a matter of perception"
x 0   x 0  Alert Admin	TS plant is owned by PUB. you need to wake up your idea, stop dreaming.  If you build a bungalow, construction company undertaking the project goes bankrupt from the debts incurred from construction and building materials got nothing to do with owner. dc_rw73      ( Date: 17-May-2019 12:30) Posted: If hyflux debts were used to build TS and PNP money was used to pay hyflux debts, isn't it PNP money was also use to build TS? destinykraze      ( Date: 17-May-2019 10:59) Posted: TS is not built with PNP money. Perp security holders' money is used to pay hyflux debts
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KAMAL0883 Supreme	17-May-2019 12:30        KAMAL0883 About Contact  Quote this Post! Style: Flexible   Mood:
x 0   x 0  Alert Admin	sambawang corp also interested in TS if SC buy over TS then they probably will issue SC share to HF holders
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dc_rw73 Member	17-May-2019 12:30        dc_rw73 About Contact  Quote this Post!
x 0   x 0  Alert Admin	If hyflux debts were used to build TS and PNP money was used to pay hyflux debts, isn't it PNP money was also use to build TS? destinykraze      ( Date: 17-May-2019 10:59) Posted: TS is not built with PNP money. Perp security holders' money is used to pay hyflux debts. dc_rw73      ( Date: 17-May-2019 10:32) Posted: TS was an asset built with PNP money. Isn't PUB is depriving Hyflux's investors from the chance of recouping back their money by saying no? Isn't PUB is depriving Hyflux from the chance of achieving a win-win resturcturing case by saying no
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destinykraze Elite	17-May-2019 10:59        destinykraze About Contact  Quote this Post!   Yells: "Reality is only a matter of perception"
x 0   x 0  Alert Admin	TS is not built with PNP money. Perp security holders' money is used to pay hyflux debts. dc_rw73      ( Date: 17-May-2019 10:32) Posted: TS was an asset built with PNP money. Isn't PUB is depriving Hyflux's investors from the chance of recouping back their money by saying no? Isn't PUB is depriving Hyflux from the chance of achieving a win-win resturcturing case by saying no? Starship      ( Date: 17-May-2019 09:07) Posted: Utico has attempted to restart talks with national water agency PUB. It said it made an official request to PUB on Wednesday to delay its seizure of Hyflux' s Tuaspring desalination plant. Mr Menezes said: " This (Tuaspring) was an asset built with PNP money. We feel PNP money and assets must be secured first since the (offering) prospectus stated the use of the funds for it." But PUB says no. A PUB spokesman told The Business Times: " We stand by all the announcements that have already been made about PUB taking over the Tuaspring desalination plant. " The Water Purchase Agreement will be terminated on May 17 and PUB will take over the Tuaspring desalination plant on May 18." The Tuaspring integrated water and power plant, though loss-making, was Hyflux' s largest asset. After Hyflux was unable to cure various defaults under the water contract due to its lack of cash, PUB issued Tuaspring a notice last month to take over ownership of the desalination plant for zero dollars and zero cost to Hyflux.  When BT showed PUB' s response to a Utico spokesman, he replied: " This was a request and it had sound basis for it... We will have more next week." It is believed that Hyflux' s former potential investor, an Indonesian consortium led by billionaire Anthoni Salim, had also tried to renegotiate the water contract with PUB, but failed. The Utico spokesman said: " PUB has not dealt with Utico so far and we cannot comment on past investors' engagement and outcomes. We are confident that we will arrive at a satisfactory resolution with PUB if given the opportunity." He added: " We have already done a limited due diligence (on Hyflux) and are aware of the issues and our binding term sheet is valid, not subject to due diligence but as per current disclosures." BT reached out to Hyflux for comment. Hyflux had earlier clarified that Utico had submitted a draft term sheet, not a binding offer. Asked how Utico' s potential S$400 million cash injection into Hyflux might be funded, the Utico spokesman told BT: " Utico is funding this as a mixture of debt and equity, which is well received considering we have the least gearing for a large water player in the industry." Utico, which is privately held, is reportedly eyeing an initial public offering. It hired Emirates NBD Capital to oversee the process late last year. On Wednesday, a mystery investor sent Hyflux a non-binding letter of interest to acquire certain of its assets in Algeria, Oman, the Middle East and the North Africa region. Hyflux declined to identify this mystery investor, revealing only that it is one of the 10 largest desalination companies globally, and a subsidiary of one of the world' s leading infrastructure firms. Separately, Hyflux is also in discussions with Oyster Bay Fund, a global multi-strategy investment fund incorporated in Bermuda, which Hyflux hopes will lead to a S$500 million investment, subject to due diligence and the execution of a definitive agreement.
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dc_rw73 Member	17-May-2019 10:32        dc_rw73 About Contact  Quote this Post!
x 0   x 0  Alert Admin	TS was an asset built with PNP money. Isn't PUB is depriving Hyflux's investors from the chance of recouping back their money by saying no? Isn't PUB is depriving Hyflux from the chance of achieving a win-win resturcturing case by saying no? Starship      ( Date: 17-May-2019 09:07) Posted: Utico has attempted to restart talks with national water agency PUB. It said it made an official request to PUB on Wednesday to delay its seizure of Hyflux' s Tuaspring desalination plant. Mr Menezes said: " This (Tuaspring) was an asset built with PNP money. We feel PNP money and assets must be secured first since the (offering) prospectus stated the use of the funds for it." But PUB says no. A PUB spokesman told The Business Times: " We stand by all the announcements that have already been made about PUB taking over the Tuaspring desalination plant. " The Water Purchase Agreement will be terminated on May 17 and PUB will take over the Tuaspring desalination plant on May 18." The Tuaspring integrated water and power plant, though loss-making, was Hyflux' s largest asset. After Hyflux was unable to cure various defaults under the water contract due to its lack of cash, PUB issued Tuaspring a notice last month to take over ownership of the desalination plant for zero dollars and zero cost to Hyflux.  When BT showed PUB' s response to a Utico spokesman, he replied: " This was a request and it had sound basis for it... We will have more next week." It is believed that Hyflux' s former potential investor, an Indonesian consortium led by billionaire Anthoni Salim, had also tried to renegotiate the water contract with PUB, but failed. The Utico spokesman said: " PUB has not dealt with Utico so far and we cannot comment on past investors' engagement and outcomes. We are confident that we will arrive at a satisfactory resolution with PUB if given the opportunity." He added: " We have already done a limited due diligence (on Hyflux) and are aware of the issues and our binding term sheet is valid, not subject to due diligence but as per current disclosures." BT reached out to Hyflux for comment. Hyflux had earlier clarified that Utico had submitted a draft term sheet, not a binding offer. Asked how Utico' s potential S$400 million cash injection into Hyflux might be funded, the Utico spokesman told BT: " Utico is funding this as a mixture of debt and equity, which is well received considering we have the least gearing for a large water player in the industry." Utico, which is privately held, is reportedly eyeing an initial public offering. It hired Emirates NBD Capital to oversee the process late last year. On Wednesday, a mystery investor sent Hyflux a non-binding letter of interest to acquire certain of its assets in Algeria, Oman, the Middle East and the North Africa region. Hyflux declined to identify this mystery investor, revealing only that it is one of the 10 largest desalination companies globally, and a subsidiary of one of the world' s leading infrastructure firms. Separately, Hyflux is also in discussions with Oyster Bay Fund, a global multi-strategy investment fund incorporated in Bermuda, which Hyflux hopes will lead to a S$500 million investment, subject to due diligence and the execution of a definitive agreement.
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investshare Supreme	17-May-2019 10:17        investshare About Contact  Quote this Post!
x 0   x 0  Alert Admin	Like that make $1.3b profit? Divided by 3m population, $400 special bonus? Stephenchow      ( Date: 16-May-2019 20:29) Posted: PUB may takeover on Sat and then offer to sell to them at $1.3b next Monday    guards80      ( Date: 16-May-2019 19:11) Posted: Utico says it has asked PUB if it can delay the takeover of Tuaspring desalination plant, which is scheduled to happen this Saturday.
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Starship Supreme	17-May-2019 09:07        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	Utico has attempted to restart talks with national water agency PUB. It said it made an official request to PUB on Wednesday to delay its seizure of Hyflux' s Tuaspring desalination plant. Mr Menezes said: " This (Tuaspring) was an asset built with PNP money. We feel PNP money and assets must be secured first since the (offering) prospectus stated the use of the funds for it." But PUB says no. A PUB spokesman told The Business Times: " We stand by all the announcements that have already been made about PUB taking over the Tuaspring desalination plant. " The Water Purchase Agreement will be terminated on May 17 and PUB will take over the Tuaspring desalination plant on May 18." The Tuaspring integrated water and power plant, though loss-making, was Hyflux' s largest asset. After Hyflux was unable to cure various defaults under the water contract due to its lack of cash, PUB issued Tuaspring a notice last month to take over ownership of the desalination plant for zero dollars and zero cost to Hyflux.  When BT showed PUB' s response to a Utico spokesman, he replied: " This was a request and it had sound basis for it... We will have more next week." It is believed that Hyflux' s former potential investor, an Indonesian consortium led by billionaire Anthoni Salim, had also tried to renegotiate the water contract with PUB, but failed. The Utico spokesman said: " PUB has not dealt with Utico so far and we cannot comment on past investors' engagement and outcomes. We are confident that we will arrive at a satisfactory resolution with PUB if given the opportunity." He added: " We have already done a limited due diligence (on Hyflux) and are aware of the issues and our binding term sheet is valid, not subject to due diligence but as per current disclosures." BT reached out to Hyflux for comment. Hyflux had earlier clarified that Utico had submitted a draft term sheet, not a binding offer. Asked how Utico' s potential S$400 million cash injection into Hyflux might be funded, the Utico spokesman told BT: " Utico is funding this as a mixture of debt and equity, which is well received considering we have the least gearing for a large water player in the industry." Utico, which is privately held, is reportedly eyeing an initial public offering. It hired Emirates NBD Capital to oversee the process late last year. On Wednesday, a mystery investor sent Hyflux a non-binding letter of interest to acquire certain of its assets in Algeria, Oman, the Middle East and the North Africa region. Hyflux declined to identify this mystery investor, revealing only that it is one of the 10 largest desalination companies globally, and a subsidiary of one of the world' s leading infrastructure firms. Separately, Hyflux is also in discussions with Oyster Bay Fund, a global multi-strategy investment fund incorporated in Bermuda, which Hyflux hopes will lead to a S$500 million investment, subject to due diligence and the execution of a definitive agreement.
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guards80 Supreme	17-May-2019 08:57        guards80 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hyflux saga: Judicial management not the panacea for company' s restructuring http://www.businesstimes.com.sg/companies-markets/hyflux-saga-judicial-management-not-the-panacea-for-companys-restructuring
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guards80 Supreme	17-May-2019 08:57        guards80 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hyflux suitor Utico seeks delay over water unit PUB says ' no' http://www.businesstimes.com.sg/companies-markets/hyflux-suitor-utico-seeks-delay-over-water-unit-pub-says-no
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Bkng595 Member	17-May-2019 01:25        Bkng595 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Becoz coy say so...😬 😬 😬 coy also said no indicator of going concern!!!!! 😬 😬 😬 investshare      ( Date: 16-May-2019 06:35) Posted: Biggest question yet to be answered: Why the Billion $ book value of TS was not impaired? Stephenchow      ( Date: 15-May-2019 20:49) Posted: Is Losing plant FOC better than Fire Sales?    On 28 April 2018:-  Chief executive and chairman Olivia Lum told a results briefing last night: " The last thing we want is a fire sale. We believe that we have a good asset, we have a good track record, still have a brand name. Why are we cornered? We know what we are doing." We have no shortage of interested parties talking to us.  On 23 April 2019:-  But the removal of Tuaspring IWPP is deemed positive by Hyflux founder Olivia Lum for the group' s restructuring. " By excluding loss-making projects such as the Tuaspring IWPP, potential strategic investors need not factor into their investment proposal the need to keep funding such assets," Ms Lum had said in court papers filed on April 23.
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Stephenchow Veteran	16-May-2019 20:59        Stephenchow About Contact  Quote this Post!
x 0   x 0  Alert Admin	Expect the expected ...... In a statement issued to the media, Utico added that it has also requested national water agency PUB &ldquo to grant a delay in the takeover of the Tuaspring desalination plant&rdquo , which is scheduled to take place on May 18.  PUB, however, is standing firm on the  takeover.  " We stand by all the announcements that have already been made about PUB taking over the Tuaspring Desalination Plant," PUB told CNA.  " The Water Purchase Agreement will be terminated on 17 May 2019 and PUB will take over the Tuaspring Desalination Plant on 18 May 2019.&rdquo
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Stephenchow Veteran	16-May-2019 20:29        Stephenchow About Contact  Quote this Post!
x 0   x 0  Alert Admin	PUB may takeover on Sat and then offer to sell to them at $1.3b next Monday    guards80      ( Date: 16-May-2019 19:11) Posted: Utico says it has asked PUB if it can delay the takeover of Tuaspring desalination plant, which is scheduled to happen this Saturday.
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Stephenchow Veteran	16-May-2019 20:26        Stephenchow About Contact  Quote this Post!
x 0   x 0  Alert Admin	Don' t think PUB will accept, how if no  deal again at the end. Now no even a stupid confirmed bid is on table.  How about the Malaysian bank that already appointed a company to take over the power plant.  if you live long enough  in this country, you will know. Once decided they will enforce like cannng he Ass of the American that caught vandalism even with the plead from American president.       Starship      ( Date: 16-May-2019 19:13) Posted: Utico  offers town hall for Hyflux investors, wants to restart talks with PUB THU, MAY 16, 2019 - 6:31 PM EMIRATI utilities group  Utico has invited Hyflux' s junior creditors to meet with it in the coming days, as it seeks to rack up support for a potential investment in the insolvent water treatment company. In a statement to the media on Thursday, Utico said it wants to meet with Hyflux' s  retail perpetual and preference share holders (PNP), who sunk a total of  S$900 million into Hyflux. Utico' s gesture is " a strong sign of bonafide intent" , Utico said.  It is one of three potential rescuers that Hyflux has recently deepened talks with.  Discussions with  Utico  are based on a possible injection of S$400 million, but no binding offer has been signed yet, Hyflux said on Tuesday. Richard Menezes, chief executive of Utico, said on Thursday: " We understand that the (PNP) investors of Hyflux are the ones who will suffer the most as junior unsecured creditors and their position and support must be resolved first. " We will discuss and put a solid proposal after we hear them out. It is a fact that these investors are unsecured and/or any redemption or coupon must be a win-win deal," he added. Utico also wants to restart negotiations with national water agency PUB. The Tuaspring integrated water and power plant, though loss-making, was Hyflux' s largest asset. On Apr 17, PUB issued a notice to Tuaspring to terminate its  water-purchase  agreement. The termination notice provided a 30-day notice period before PUB takes over the desalination plant. Utico said it made a request to PUB on Wednesday to delay its seizure of the desalination plant. " This consensual settlement of the situation will build confidence and reputation." A Utico spokesman told  The Business Times  (BT): " PUB was requested yesterday officially and they are yet to respond." BT has reached out to Hyflux and PUB for comment. It is unclear if PUB' s earlier decision to take over ownership of the Tuaspring desalination plant for zero dollars and zero cost to Hyflux is open for negotiation.  However, Utico has argued that allowing it to enter into a deal with Hyflux, " which would provide for remedial and rectification action of the plant to PUB' s satisfaction and goodwill" , will build confidence in Hyflux, which is a company that investors believed in. Mr Menezes said: " This was an asset built with PNP money. We feel PNP money and assets must be secured first since the (offering) prospectus stated the use of the funds for it." He said that Tuaspring was a strategic asset of Hyflux and for Singapore: " We are prepared to work with Hyflux to ensure it performs without compromising any security aspects and ensure that this asset provides a return as well with PUB support." As of last week, Utico was still doing its due diligence on Hyflux. Utico said: " Details of the PNP meeting with any regulatory approvals/permissions will be announced soon."   Mr Menezes stressed: " A  white knight investor cannot be an investor that only wants Hyflux and its assets or its businesses.  It is a must that a fair and quick resolution is found for investors in the preference shares and perpetual bonds. Utico wants to be such a white knight investor." Hyflux is not legally obliged to pay its  perp and pref share investors under current conditions, Utico noted. " This is compounded further if the company is either sold to funds, to investors seeking overseas assets or goes into judicial management." On Wednesday, a mystery investor sent Hyflux a non-binding letter of interest to acquire certain of its assets in Algeria, Oman, the Middle East and the North Africa region. Hyflux declined to identify this mystery investor, revealing only that it is one of the top 10 largest desalination companies globally, and a subsidiary of one of the world' s leading infrastructure firms. Separately, Hyflux is also in discussions with Oyster Bay Fund, a global multi-strategy investment fund incorporated in Bermuda, which Hyflux hopes could lead to a S$500 million investment, subject to due diligence and the execution of a definitive agreement. https://www.businesstimes.com.sg/companies-markets/utico%C2%A0offers-town-hall-for-hyflux-investors-wants-to-restart-talks-with-pub
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