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Hyflux
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fundamentalhero
Veteran |
24-Mar-2019 00:01
Yells: "I NEED HONEYS AND MONIES" |
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not to make fun afterall, I also lost shht tons of monies in this Shhty bourse. just lamenting. complains aside though. those involved will probably be laughing and singing " the ants go marching one by one hurrah hurrah, the ants go marching two by two hurrah hurrah ......... the ants go marching down to the sound of my stomping foot while i step on them and take their monies and they all go running down....  "
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fundamentalhero
Veteran |
23-Mar-2019 23:49
Yells: "I NEED HONEYS AND MONIES" |
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time to put this classic picture hahaha all the monies paid to do marching last time. now 34000 + shareholders skully march to home of related parties to seek back said dividends or seek redress.  wha if these people march will be in the range of a corp already hahahaha. need 1 lieutenant general/ 3 star general to take command of 2+ division of older folks (probably a lot of pioneer + merdeka generation) though water/shade will be more in need hahahaha. Need to drink more water, terrible weather especially since this corp will compromise of older people. take care of health please. see the true face of people sitting at the top. no one will help us other than ourselves. take care of health and be critical and apply neutral emotions. Cause doubt those involved or authorities will help also. since this is not the first nor the last time. if they want to settle this long standing issue, long ago with so many problems like look at s-chip saga (midas yamada green etc), abl and noble along with all the low-ball offers saga (courts vard etc) it will have settled already or settle first before hyflux. but LOL TOTAL SILENCE. |
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Starship
Supreme |
23-Mar-2019 15:14
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It' s the evil Trump' s doing.  Squeezing every country to fill the coffers of USA. He actually thinks USA can do well even if other countries falter.  And he' s so egotistical that he thinks he will always get whatever he wants.  
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angmohlin
Veteran |
23-Mar-2019 15:00
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It seems to me that the Authorities (MAS, SGXRegco) should carry out an investigation on Hyflux to check whether any breaches under the ss 201(2) and 201(5) of the Companies Act and take enforcement action. The Companies Act requires a company&rsquo s accounts to reflect a true and fair view of its financial position and performance. Why Hyflux has had never reported that the Tuaspring Desalination plant has been losing money and only put a blame on the depressed electricity prices which has adversely impacted on the Tuaspring IWPP&rsquo s financial performance.
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moron101
Supreme |
23-Mar-2019 13:44
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Bad for bank stocks, good for property stocks?
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enjoylife77
Veteran |
23-Mar-2019 13:23
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Go read today' s Straits Times and Business Times to understand the mis-step undertaken by Hyflux over the decades. | ||||
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zillion
Master |
23-Mar-2019 12:10
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Independant Directors sleeping just want to collect fees only. Be wary when all these smes get well politically connected people to be independant directors as these bosses always get ' protection' if things go wrong. Also I noticed all these smes love getting involve in grassroots as it will help to raise their profile with such connections and some ' immunity' when things go wrong. | ||||
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fatpanda
Supreme |
23-Mar-2019 11:41
Yells: "Another wonderful day!" |
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Who messed up the economy? The Ang Moh screwed it up! And now they realised the seriousness of economy slow down...
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Starship
Supreme |
23-Mar-2019 10:14
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Temasek and GIC are concentrating on high-tech VC, investing in a whopping 60% of all VC deals worldwide in 2018. No time for Hyflux.................  Sovereign funds placed record amount in 2018 venture capital deals: report SAT, MAR 23, 2019 - 5:50 AM London SOVEREIGN wealth funds invested a record amount in venture capital last year, a report said on Thursday, as they seek early exposure to the next Airbnb, Uber or Ant Financial. There were 84 sovereign wealth fund deals in 77 different venture capital rounds in 2018, the report by IE University and ICEX said. In the five years up to 2018, there were 220 venture capital rounds, up from 14 in the previous five year period. Biotech and healthcare had dominated in the last five years, with 20 per cent of venture capital investment rounds, but there was now a growing interest in startups leading transformation of traditional sectors such as in fintech, mobility services and agriculture, the report said. Singapore funds GIC and Temasek Holdings were the first movers into venture capital among sovereign funds and in 2018 they still represented 60 per cent of all deals. https://www.businesstimes.com.sg/companies-markets/sovereign-funds-placed-record-amount-in-2018-venture-capital-deals-report |
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Stephenchow
Veteran |
23-Mar-2019 10:00
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many of Hyflux' s 34,000 investors appeared to have been caught unawares by the company' s precarious position, leading some to ask if there were any breaches of Singapore' s strict listing rules on continuous disclosure. Governance advocate and accounting professor Mak Yuen Teen said if there were breaches, they are likely to concern the type of disclosures made by the company while it was issuing around $900 million of bonds and instruments in two tranches in 2011 and 2016. " The question will be whether Hyflux had withheld information or had given wrong information to investors about the state of the company at the time of the fundraising," said Prof Mak in a phone interview. Water treatment company Hyflux' s Tuaspring desalination plant. Hyflux has spent the last 10 months trying to reorganise to keep itself going. Agreeing, Ms Elke Biechele, chief executive of financial crime intelligence firm RisikoTek, added that there was a high chance that SGX rules on timely disclosure of material information were not followed. These rules ensure the operation of a fair, orderly and transparent market for the trading of securities, said the former global head of operational risk at Standard Chartered. " Most suspect on Hyflux' part was that they did not disclose their true financial situation as, with the level of debt, Hyflux would not have qualified to raise further funds as its assets would have not been sufficient," she said. Ms Biechele also found it strange that Hyflux had been posting losses for 10 consecutive years, but was still able to finance Tuaspring with a $57 million shareholder loan. This could be a " red flag" , she said. A source, who declined to be named, added that regulators could be looking into the remuneration of Hyflux' chief Olivia Lum, who received more than $60 million in dividends from her 34 per cent shareholding in the company while it was making losses. Ms Biechele said the payment of such dividends could put the entire shareholding management team under scrutiny. Some potential regulatory issues were flagged in a letter to the Hyflux board by the Securities Investors Association Singapore (Sias) last month. In a commentary earlier this month, the Sias president David Gerald questioned how investors were sold these risky bonds and argued for a more informed investor as a defence against such risks, He also asked regulators to look at whether sale of Hyflux bonds through bank teller machines was suitable. " Our sympathies lie with these individuals, all 34,000 of them, especially since it appears as if they have no recourse because this is a caveat emptor (buyer beware) world that we live in and they are expected to familiarise themselves with all risks before investing." |
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ysh2006
Supreme |
23-Mar-2019 09:44
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Wow that is mean even water plant taken by PUB, the power plant will be no one taker ?...Maybank can' t sell to recover losses ?.....
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Bkng595
Member |
23-Mar-2019 09:43
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Bicycle Your analogy is v clear. Please help me to understand Point 6 = they recognise revenue (and profit?) even before they start operation? and the co did not receive any $$$ from pub for the construction? Point 7 = when operations start, they can not make enough $$$ to pay costs and pay loans. Also no more revenues and profits becoz already recognised during construction? Finally, if they have been burning cash, where did money to pay dividends come from? Borrow more? Those invested and let go during construction of TS are now ok. The rest is shitstory!!!
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Stephenchow
Veteran |
23-Mar-2019 09:29
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华 侨 银 行 债 券 研 究 部 接 受 《 联 合 早 报 》 询 问 时 说 ， 水 厂 出 现 负 值 ， 可 能 是 因 为 水 厂 已 经 面 临 营 运 问 题 ， 或 其 中 涉 及 罚 款 ， 而 这 笔 债 务 已 经 超 过 资 产 价 值 。 李 光 耀 公 共 政 策 学 院 水 资 源 政 策 研 究 所 联 席 主 任 梁 菁 助 理 教 授 接 受 访 问 时 说 ， 正 如 公 用 局 之 前 指 出 ， 水 厂 的 营 运 已 经 出 现 问 题 ， &ldquo 当 局 接 管 之 后 ， 需 要 花 钱 解 决 。 &rdquo 加 上 水 厂 已 经 投 入 营 运 五 年 ， 梁 菁 指 出 ， 厂 内 的 薄 膜 都 必 须 更 换 了 。 她 认 为 ， 目 前 的 经 营 者 既 然 已 经 无 法 履 行 购 水 协 议 下 的 多 项 合 约 义 务 ， &ldquo 要 求 它 更 换 这 些 薄 膜 ， 无 疑 会 造 成 更 沉 重 的 财 务 负 担 。 &rdquo 华 侨 银 行 债 券 研 究 部 指 出 ， 关 键 就 在 于 SM投 资 在 进 行 尽 职 调 查 （ due diligence） 以 及 和 凯 发 协 商 的 过 程 中 ， 是 否 知 道 水 厂 是 负 值 的 。 &ldquo 假 设 SM投 资 清 楚 知 道 ， 那 它 可 能 不 会 撤 资 ， 因 为 负 债 减 轻 很 多 。 不 过 ， 前 提 是 在 没 有 大 泉 水 电 厂 的 情 况 下 ， SM投 资 仍 愿 意 注 资 。 &rdquo 由 于 SM投 资 早 已 表 明 希 望 保 留 大 泉 水 电 厂 ， 研 究 部 说 ： &ldquo 如 果 它 和 我 们 一 样 ， 在 公 用 局 发 出 文 告 前 ， 不 知 道 大 泉 水 电 厂 问 题 的 严 重 性 ， 那 撤 资 的 可 能 性 提 高 许 多 。 &rdquo 研 究 部 也 指 出 ， 此 前 市 场 同 样 不 知 道 原 来 公 用 局 也 是 大 泉 水 电 厂 的 债 权 人 。 大 泉 水 电 厂 目 前 仍 欠 马 来 亚 银 行 5亿 多 元 ， 马 来 亚 银 行 是 大 泉 水 电 厂 的 唯 一 有 抵 押 债 权 人 。 研 究 部 说 ， 市 场 通 常 预 期 ， 接 管 的 一 方 会 赔 偿 有 抵 押 债 权 人 ， &ldquo 作 为 有 抵 押 债 权 人 却 无 法 获 得 任 何 赔 偿 是 罕 见 的 。 &rdquo 新 加 坡 国 立 大 学 商 学 院 副 教 授 麦 润 田 受 访 时 说 ， 理 论 上 马 来 亚 银 行 或 许 可 以 强 迫 凯 发 脱 售 电 厂 ， &ldquo 但 电 厂 和 水 厂 是 连 接 的 ， 假 设 公 用 局 接 管 之 后 ， 当 局 掌 控 水 厂 ， 谁 会 想 买 电 厂 ？ &rdquo 由 于 本 地 的 电 力 市 场 仍 有 供 过 于 求 的 问 题 ， 电 厂 对 买 家 的 吸 引 力 不 高 。 马 来 亚 银 行 发 言 人 受 询 时 表 示 ， 无 法 针 对 个 别 客 户 发 言 。 |
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Sgvale
Supreme |
23-Mar-2019 08:19
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Dow plunge 400+points. FED not raising interest rate for the rest of year. Economy no good, how to raise? | ||||
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Stephenchow
Veteran |
23-Mar-2019 08:15
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More troubles ahead? MAS and SGX keeping eye on Hyflux saga to see if company breached any rules SINGAPORE - The saga surrounding Hyflux has caught the eye of Singapore' s financial regulators, who are looking into whether the water treatment company has breached any rules. The Monetary Authority of Singapore (MAS) and the Singapore Exchange (SGX) said they are keeping a close watch on developments at the debt-laden business, whose shares have been suspended since May last year pending a restructuring effort.
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ysh2006
Supreme |
23-Mar-2019 08:10
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So Maybank take the power plant sell to either YKL or Sembcorp to get back some residure money ..😊
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Alvin2042
Master |
23-Mar-2019 08:00
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Rip....PUB only take back the desalination plant. The power plant still with hyflux.
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ysh2006
Supreme |
23-Mar-2019 07:56
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Will Maybank agree to the bankarupt ? Get nothing back ?
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Stephenchow
Veteran |
22-Mar-2019 22:11
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Legend of three kingdom has started with P.U.B , Malaysian bank and Indonesian in three corners fight Malaysian bank is in dam.n if I do, die if I don' t catch 22 dire straits situation. If extends, risk losing all, if doesn' t, risk unable to find a buyer and hold on to a money losing business End of month likely to be the judgement day for the company, will see whether the Malaysian bank or Indonesian blinks first Malaysian bank likely to repossess the plant to answer to their shareholders and Indonesian likely to walk away because a lot of recent ugly events not within their inital plan and t no smart invesor will want to clash with the authority no matter how small the clash is. |
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Bkng595
Member |
22-Mar-2019 19:53
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Observers makes a good observation...knowing the problems with TS since 2017, how did the company con the valuer, the auditor and the world TS is worth $1.4bil? Per PUB valuation, TS value should have been negative or big fat zero in 2017. company already insolvent in 2017? .... but company said no going concern issue until May 2018....🤔 🤔 🤔
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