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Observers Elite	22-Mar-2019 08:48        Observers About Contact  Quote this Post!
x 0   x 0  Alert Admin	I' m more interested in the valuation of Tuaspring. If PUB' s valuers put Tuaspring desalination portion at negative value to justify a purchase price of a big fat kosong, how did Hyflux manage to keep Tuaspring IWPP valuation at $1.4bil(?) on the (audited?) books?
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lukewong82 Master	22-Mar-2019 08:41        lukewong82 About Contact  Quote this Post!
x 0   x 0  Alert Admin	BUT if they sell to those low ballers who bid very low price for the water plant, say $200M.. then after selling to those low bidder, they can pare down the debt right? Better than giving free to PUB? I still dun understand why it is a good thing to give the water plant to pub for free leh? Still dun get it... becos that time alot of low balls bidders for their assets, thats why Hyflux dun want to sell.. Now they give it to PUB for free, they think is a good thing?? why not sell it to those low bidder, at least u get back some $$$ and get rid of a $$$ losing asset? Can explain?? kerier      ( Date: 22-Mar-2019 08:23) Posted: Its a good thing because it reduces the cashburn (ie: more cash can be used for other purposes). Right now the water plant is not commercially viable and is not even operating at breakeven hence Hyflux incurs daily operational costs to keep the plant going on top of the loan payments. lukewong82      ( Date: 22-Mar-2019 08:05) Posted: can anyone explain why hyflux and some ppl say is a good thing that pub buy the water plant for $0??? I still dun get it... IF pub buys over water plant at market price, i still can understand is a good thing even if the market price is much lesser than costs. But how come is a good thing if pub gets it for free basically. Just like the Condo A example..
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lukewong82 Master	22-Mar-2019 08:38        lukewong82 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Ok.. let say Hyflux takes loan of $500M from Maybank to build/operate the water plant. If they can find a buyer who is willing to pay say  $300M for the water plant, Hyflux can pare down the debt and perhaps survive with reduced debt. Now without water plant (given free to PUB) means they have to pay up the full amount of $500M to maybank on top of other debtors.. Where can they find the $$$ to pay back so much $$$? Observers      ( Date: 22-Mar-2019 08:30) Posted: More like Condo A is a joint-tenancy that comes with a rental guarantee to the 2nd owner (PUB). The problem is the rental guarantee is higher than the market rental rate. No tenant, lose more, got tenant, lose less. So 2nd owner say, since you no money already, then offer to buy over for $0 and he will waive the rest of the rental guarantee of the 25year leasehold Condo. No mortgage on Condo A, only personal loan taken from Maybank by 1st owner. (because PUB is ultimate beneficiary of strategic asset Tuaspring desalination plant and can veto any ownership transfers) lukewong82      ( Date: 22-Mar-2019 07:57) Posted: let me use a simple example: u bought 2 condos. Let call them condo A and B. Condo A (water plant) and Condo B(power plant). U bought both for $1.6 million. ie: NTA $1.6 million. U intend to use the rental to fully fund the purchase and hopefully can earn some profit. Now suppose due to bad market, u cannot rent out the condos but u still have to pay for daily operation costs like maintenance charges (money losing asset) on top of paying back the loan instalment, jialat right? becos it means u will have no $$$ to pay for daily operation costs means u are operating a money losing asset, dun forget on top of the loan and sooner or later u will go bankrupt. Then one day a guy comes to u and suggest he buying over Condo A for $0 and  take over the daily operation  (he will pay for  maintenance charges). He says this will help to alleviate the burden on u becos now u no longer losing money as you no longer holding a money losing asset aka dun have to pay for maintenance charges etc... (by the way that guy is not going to settle the loans for u, he is buying ur condo A for $0, so u have to continue paying the loan for condo A). I rephase it to Hyflux case ok. Then one day  PUB  goes to  Hyflux and suggest  they buy over  water plant  for $0 and  take over the daily operation  (PUB will pay for  operation/maintenance charges).Hyflux then  says this will help to alleviate the burden becos now  Hyflux no longer losing money as  Hyflux no longer holding a money losing asset. U think it sounds logical???? Note: PUB is NOT going to settle the loans for the water plant !
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Observers Elite	22-Mar-2019 08:30        Observers About Contact  Quote this Post!
x 0   x 0  Alert Admin	More like Condo A is a joint-tenancy that comes with a rental guarantee to the 2nd owner (PUB). The problem is the rental guarantee is higher than the market rental rate. No tenant, lose more, got tenant, lose less. So 2nd owner say, since you no money already, then offer to buy over for $0 and he will waive the rest of the rental guarantee of the 25year leasehold Condo. No mortgage on Condo A, only personal loan taken from Maybank by 1st owner. (because PUB is ultimate beneficiary of strategic asset Tuaspring desalination plant and can veto any ownership transfers) lukewong82      ( Date: 22-Mar-2019 07:57) Posted: let me use a simple example: u bought 2 condos. Let call them condo A and B. Condo A (water plant) and Condo B(power plant). U bought both for $1.6 million. ie: NTA $1.6 million. U intend to use the rental to fully fund the purchase and hopefully can earn some profit. Now suppose due to bad market, u cannot rent out the condos but u still have to pay for daily operation costs like maintenance charges (money losing asset) on top of paying back the loan instalment, jialat right? becos it means u will have no $$$ to pay for daily operation costs means u are operating a money losing asset, dun forget on top of the loan and sooner or later u will go bankrupt. Then one day a guy comes to u and suggest he buying over Condo A for $0 and  take over the daily operation  (he will pay for  maintenance charges). He says this will help to alleviate the burden on u becos now u no longer losing money as you no longer holding a money losing asset aka dun have to pay for maintenance charges etc... (by the way that guy is not going to settle the loans for u, he is buying ur condo A for $0, so u have to continue paying the loan for condo A). I rephase it to Hyflux case ok. Then one day  PUB  goes to  Hyflux and suggest  they buy over  water plant  for $0 and  take over the daily operation  (PUB will pay for  operation/maintenance charges).Hyflux then  says this will help to alleviate the burden becos now  Hyflux no longer losing money as  Hyflux no longer holding a money losing asset. U think it sounds logical???? Note: PUB is NOT going to settle the loans for the water plant !   bicycle      ( Date: 22-Mar-2019 01:11) Posted: PUB taking over the water plant means Hyflux (or the white knight) do not have to continue to operate a money losing asset (bcos of the low water tariff, plus operation issues) until 2038. So it does help to alleviate the burden on Hyflux. You cannot based on the NAV of the plant as Hyflux' s accounting has account for the concession profit during plant contruction period. In any case, if the operator keeping losing money until 2038 by supplying water to PUB, the water asset will continue to be a cash burner, not profit generating. And by 2038, have to trasfer the plant to PUB for free anyway. But I' m also curious how does Maybank secured loan pan out if PUB take over water plant? Power pant still can auction off. What about the balance? Where to claim?
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kerier Veteran	22-Mar-2019 08:23        kerier About Contact  Quote this Post!
x 0   x 0  Alert Admin	Its a good thing because it reduces the cashburn (ie: more cash can be used for other purposes). Right now the water plant is not commercially viable and is not even operating at breakeven hence Hyflux incurs daily operational costs to keep the plant going on top of the loan payments. lukewong82      ( Date: 22-Mar-2019 08:05) Posted: can anyone explain why hyflux and some ppl say is a good thing that pub buy the water plant for $0??? I still dun get it... IF pub buys over water plant at market price, i still can understand is a good thing even if the market price is much lesser than costs. But how come is a good thing if pub gets it for free basically. Just like the Condo A example... lukewong82      ( Date: 22-Mar-2019 07:57) Posted: let me use a simple example: u bought 2 condos. Let call them condo A and B. Condo A (water plant) and Condo B(power plant). U bought both for $1.6 million. ie: NTA $1.6 million. U intend to use the rental to fully fund the purchase and hopefully can earn some profit. Now suppose due to bad market, u cannot rent out the condos but u still have to pay for daily operation costs like maintenance charges (money losing asset) on top of paying back the loan instalment, jialat right? becos it means u will have no $$$ to pay for daily operation costs means u are operating a money losing asset, dun forget on top of the loan and sooner or later u will go bankrupt. Then one day a guy comes to u and suggest he buying over Condo A for $0 and  take over the daily operation  (he will pay for  maintenance charges). He says this will help to alleviate the burden on u becos now u no longer losing money as you no longer holding a money losing asset aka dun have to pay for maintenance charges etc... (by the way that guy is not going to settle the loans for u, he is buying ur condo A for $0, so u have to continue paying the loan for condo A). I rephase it to Hyflux case ok. Then one day  PUB  goes to  Hyflux and suggest  they buy over  water plant  for $0 and  take over the daily operation  (PUB will pay for  operation/maintenance charges).Hyflux then  says this will help to alleviate the burden becos now  Hyflux no longer losing money as  Hyflux no longer holding a money losing asset. U think it sounds logical???? Note: PUB is NOT going to settle the loans for the water plant !
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lukewong82 Master	22-Mar-2019 08:05        lukewong82 About Contact  Quote this Post!
x 0   x 0  Alert Admin	can anyone explain why hyflux and some ppl say is a good thing that pub buy the water plant for $0??? I still dun get it... IF pub buys over water plant at market price, i still can understand is a good thing even if the market price is much lesser than costs. But how come is a good thing if pub gets it for free basically. Just like the Condo A example... lukewong82      ( Date: 22-Mar-2019 07:57) Posted: let me use a simple example: u bought 2 condos. Let call them condo A and B. Condo A (water plant) and Condo B(power plant). U bought both for $1.6 million. ie: NTA $1.6 million. U intend to use the rental to fully fund the purchase and hopefully can earn some profit. Now suppose due to bad market, u cannot rent out the condos but u still have to pay for daily operation costs like maintenance charges (money losing asset) on top of paying back the loan instalment, jialat right? becos it means u will have no $$$ to pay for daily operation costs means u are operating a money losing asset, dun forget on top of the loan and sooner or later u will go bankrupt. Then one day a guy comes to u and suggest he buying over Condo A for $0 and  take over the daily operation  (he will pay for  maintenance charges). He says this will help to alleviate the burden on u becos now u no longer losing money as you no longer holding a money losing asset aka dun have to pay for maintenance charges etc... (by the way that guy is not going to settle the loans for u, he is buying ur condo A for $0, so u have to continue paying the loan for condo A). I rephase it to Hyflux case ok. Then one day  PUB  goes to  Hyflux and suggest  they buy over  water plant  for $0 and  take over the daily operation  (PUB will pay for  operation/maintenance charges).Hyflux then  says this will help to alleviate the burden becos now  Hyflux no longer losing money as  Hyflux no longer holding a money losing asset. U think it sounds logical???? Note: PUB is NOT going to settle the loans for the water plant !   bicycle      ( Date: 22-Mar-2019 01:11) Posted: PUB taking over the water plant means Hyflux (or the white knight) do not have to continue to operate a money losing asset (bcos of the low water tariff, plus operation issues) until 2038. So it does help to alleviate the burden on Hyflux. You cannot based on the NAV of the plant as Hyflux' s accounting has account for the concession profit during plant contruction period. In any case, if the operator keeping losing money until 2038 by supplying water to PUB, the water asset will continue to be a cash burner, not profit generating. And by 2038, have to trasfer the plant to PUB for free anyway. But I' m also curious how does Maybank secured loan pan out if PUB take over water plant? Power pant still can auction off. What about the balance? Where to claim?
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lukewong82 Master	22-Mar-2019 07:57        lukewong82 About Contact  Quote this Post!
x 0   x 0  Alert Admin	let me use a simple example: u bought 2 condos. Let call them condo A and B. Condo A (water plant) and Condo B(power plant). U bought both for $1.6 million. ie: NTA $1.6 million. U intend to use the rental to fully fund the purchase and hopefully can earn some profit. Now suppose due to bad market, u cannot rent out the condos but u still have to pay for daily operation costs like maintenance charges (money losing asset) on top of paying back the loan instalment, jialat right? becos it means u will have no $$$ to pay for daily operation costs means u are operating a money losing asset, dun forget on top of the loan and sooner or later u will go bankrupt. Then one day a guy comes to u and suggest he buying over Condo A for $0 and  take over the daily operation  (he will pay for  maintenance charges). He says this will help to alleviate the burden on u becos now u no longer losing money as you no longer holding a money losing asset aka dun have to pay for maintenance charges etc... (by the way that guy is not going to settle the loans for u, he is buying ur condo A for $0, so u have to continue paying the loan for condo A). I rephase it to Hyflux case ok. Then one day  PUB  goes to  Hyflux and suggest  they buy over  water plant  for $0 and  take over the daily operation  (PUB will pay for  operation/maintenance charges).Hyflux then  says this will help to alleviate the burden becos now  Hyflux no longer losing money as  Hyflux no longer holding a money losing asset. U think it sounds logical???? Note: PUB is NOT going to settle the loans for the water plant !   bicycle      ( Date: 22-Mar-2019 01:11) Posted: PUB taking over the water plant means Hyflux (or the white knight) do not have to continue to operate a money losing asset (bcos of the low water tariff, plus operation issues) until 2038. So it does help to alleviate the burden on Hyflux. You cannot based on the NAV of the plant as Hyflux' s accounting has account for the concession profit during plant contruction period. In any case, if the operator keeping losing money until 2038 by supplying water to PUB, the water asset will continue to be a cash burner, not profit generating. And by 2038, have to trasfer the plant to PUB for free anyway. But I' m also curious how does Maybank secured loan pan out if PUB take over water plant? Power pant still can auction off. What about the balance? Where to claim?
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ysh2006 Supreme	22-Mar-2019 07:16        ysh2006 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Maybank maybe given too long extension again and again now govt come in to force take it at zero value ... See how Maybank answer to it investors during AGM. ysh2006      ( Date: 22-Mar-2019 07:09) Posted: Maybank can exercise the force sell clause quickly sell TS away to take back the noney ?...rather zero value taken by PUB ?.... Observers      ( Date: 22-Mar-2019 06:56) Posted: So in the default event, PUB will only take over the desalination plant and leave Hyflux with the power plant in an oversupplied electricity market? One good thing is PUB has given notice it' s willing to waive compensation (contingent) based on the WPA, investors and creditors should be able to extract more value from Tuaspring.  But now does it mean we(the public) will have to pay more for water if PUB no longer has Tuaspring' s $0.45 per cubic metre tap
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fatpanda Supreme	22-Mar-2019 07:15        fatpanda About Contact  Quote this Post! Style: Technical   Mood: Yells: "Another wonderful day!"
x 0   x 0  Alert Admin	Also, is the tax payers goint to absorb part of the Hyflux debts as PUB waived the compensation?
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ysh2006 Supreme	22-Mar-2019 07:09        ysh2006 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Maybank can exercise the force sell clause quickly sell TS away to take back the noney ?...rather zero value taken by PUB ?.... Observers      ( Date: 22-Mar-2019 06:56) Posted: So in the default event, PUB will only take over the desalination plant and leave Hyflux with the power plant in an oversupplied electricity market? One good thing is PUB has given notice it' s willing to waive compensation (contingent) based on the WPA, investors and creditors should be able to extract more value from Tuaspring.  But now does it mean we(the public) will have to pay more for water if PUB no longer has Tuaspring' s $0.45 per cubic metre tap? bicycle      ( Date: 22-Mar-2019 01:11) Posted: PUB taking over the water plant means Hyflux (or the white knight) do not have to continue to operate a money losing asset (bcos of the low water tariff, plus operation issues) until 2038. So it does help to alleviate the burden on Hyflux. You cannot based on the NAV of the plant as Hyflux' s accounting has account for the concession profit during plant contruction period. In any case, if the operator keeping losing money until 2038 by supplying water to PUB, the water asset will continue to be a cash burner, not profit generating. And by 2038, have to trasfer the plant to PUB for free anyway. But I' m also curious how does Maybank secured loan pan out if PUB take over water plant? Power pant still can auction off. What about the balance? Where to claim?
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Observers Elite	22-Mar-2019 06:56        Observers About Contact  Quote this Post!
x 0   x 0  Alert Admin	So in the default event, PUB will only take over the desalination plant and leave Hyflux with the power plant in an oversupplied electricity market? One good thing is PUB has given notice it' s willing to waive compensation (contingent) based on the WPA, investors and creditors should be able to extract more value from Tuaspring.  But now does it mean we(the public) will have to pay more for water if PUB no longer has Tuaspring' s $0.45 per cubic metre tap? bicycle      ( Date: 22-Mar-2019 01:11) Posted: PUB taking over the water plant means Hyflux (or the white knight) do not have to continue to operate a money losing asset (bcos of the low water tariff, plus operation issues) until 2038. So it does help to alleviate the burden on Hyflux. You cannot based on the NAV of the plant as Hyflux' s accounting has account for the concession profit during plant contruction period. In any case, if the operator keeping losing money until 2038 by supplying water to PUB, the water asset will continue to be a cash burner, not profit generating. And by 2038, have to trasfer the plant to PUB for free anyway. But I' m also curious how does Maybank secured loan pan out if PUB take over water plant? Power pant still can auction off. What about the balance? Where to claim?
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fundamentalhero Veteran	22-Mar-2019 01:42        fundamentalhero About Contact  Quote this Post! Style: Fundamental   Yells: "I NEED HONEYS AND MONIES"
x 0   x 0  Alert Admin	lost writedown [aka bad debts aka debt provision writeoff into actual bad dent aka loss for maybank] bicycle      ( Date: 22-Mar-2019 01:11) Posted: PUB taking over the water plant means Hyflux (or the white knight) do not have to continue to operate a money losing asset (bcos of the low water tariff, plus operation issues) until 2038. So it does help to alleviate the burden on Hyflux. You cannot based on the NAV of the plant as Hyflux' s accounting has account for the concession profit during plant contruction period. In any case, if the operator keeping losing money until 2038 by supplying water to PUB, the water asset will continue to be a cash burner, not profit generating. And by 2038, have to trasfer the plant to PUB for free anyway. But I' m also curious how does Maybank secured loan pan out if PUB take over water plant? Power pant still can auction off. What about the balance? Where to claim?
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bicycle Member	22-Mar-2019 01:11        bicycle About Contact  Quote this Post!
x 0   x 0  Alert Admin	PUB taking over the water plant means Hyflux (or the white knight) do not have to continue to operate a money losing asset (bcos of the low water tariff, plus operation issues) until 2038. So it does help to alleviate the burden on Hyflux. You cannot based on the NAV of the plant as Hyflux' s accounting has account for the concession profit during plant contruction period. In any case, if the operator keeping losing money until 2038 by supplying water to PUB, the water asset will continue to be a cash burner, not profit generating. And by 2038, have to trasfer the plant to PUB for free anyway. But I' m also curious how does Maybank secured loan pan out if PUB take over water plant? Power pant still can auction off. What about the balance? Where to claim?
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enjoylife77 Veteran	22-Mar-2019 00:55        enjoylife77 About Contact  Quote this Post!
x 0   x 0  Alert Admin	The Maybank' s officers that approved the $518 m so-called secured loan are in big trouble.
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Starship Supreme	22-Mar-2019 00:23        Starship About Contact  Quote this Post!
x 0   x 0  Alert Admin	PUB is very    仁 慈 ........................... PUB says Salim-Medco should not use it as excuse to pull plug on Hyflux deal THU, MAR 21, 2019 - 9:18 PM HYFLUX' s reluctant white knight should not use PUB as an excuse to back out of their investment agreement with the water company, the national water agency said on Thursday. PUB clarified on Thursday that if Hyflux subsidiary Tuaspring Pte Ltd is unable to cure its defaults by April 5, PUB will only take control of Tuaspring' s desalination plant, and not its 411 megawatt power plant which sits on the same site. This transaction would occur at zero cost to Hyflux, even though the desalination plant is expected to have negative value based on calculations done in accordance with the Water Purchase Agreement (WPA). PUB is willing to waive the compensation sum, given Tuaspring' s financial position. PUB said in a statement on Thursday night: " Hyflux itself has noted that PUB&rsquo s actions, in the event PUB elects to terminate the WPA, would be favourable to Tuaspring Pte Ltd, as this alleviates the pressure on the rest of the Hyflux Group, and also positively impacts Hyflux' s value and hence the value of the Hyflux shares being offered. " This will also increase the chances of Hyflux being successfully restructured. PUB' s actions should therefore not be used as the basis for SMI' s decision to withdraw from the restructuring agreement." The desalination plant is determined to have negative value because PUB is entitled to recover the cost of restoring the plant to good operating conditions from the concession company. The projected costs also take into account the burden PUB has to take to maintain and run the plant. In any case, PUB is waiving its compensation claim from Tuaspring Pte Ltd, which is understood to be a three-digit million figure, since it faces a low chance of recovery as an unsecured creditor. Besides, even if PUB were to pay Hyflux anything for the desalination plant, the proceeds would go towards settling Maybank&rsquo s S$518 million secured loan, leaving nothing for junior creditors. PUB&rsquo s statement comes after Salim-Medco, the Indonesian investor group led by billionaire Anthoni Salim, indicated on Monday that it is thinking about backing out of a deal to recapitalise Hyflux that it had tabled in October last year, in light of PUB&rsquo s default notice. On Wednesday, Tuaspring Pte Ltd wrote to PUB to clarify what happens if its defaults are not cured. If the defaults are not cured, PUB will exercise its right to terminate the WPA, it said. PUB also clarified that it will purchase and run the water desalination plant only: " PUB has the operational capabilities, experience and manpower to run the Tuaspring desalination plant.&rdquo A termination of the water contract &ldquo may entitle&rdquo Salim-Medco to terminate the rescue deal, Hyflux said. Hyflux added on Thursday that it has reached out to the investor, though it is unclear if Salim-Medco is open to restructuring the original deal to account for the loss of asset. " The company acknowledges... that there is no obligation on the investor to vary the restructuring agreement," Hyflux said. On Thursday, PUB once again emphasised that it was guided by the need to safeguard Singapore&rsquo s water security. Under the water contract, Tuaspring is required to deliver up to 70 million gallons of desalinated water per day to PUB over a 25-year period from 2013 to 2038. Its plant capacity is equivalent to 16 per cent of Singapore&rsquo s daily water demand of 430 million gallons a day (mgd).Since early 2017, the plant has been facing operational issues. It was unable to replace poor-performing membranes promptly, which affected the quantity and quality of of the water produced. It has failed to supply PUB with 70 mgd of desalinated water on numerous occasions. Hyflux also lacks the necessary funds to resolve its operational issues, unless it gets a cash injection. Salim-Medco had earlier agreed to throw Hyflux a S$530 million lifeline in exchange for a 60 per cent stake in the restructured company. But it remains to be seen how Salim-Medco will react to the new developments. Unlike the power-generation portion of Tuaspring, which is loss-making due to an oversupply of power capacity in Singapore, the desalination portion is loss-making by contract. The desalination plant is expected to keep running at a loss unless the concession company is able to bargain with PUB for higher water tariffs. This is because when Hyflux bid for the water contract in 2010, its business model was to use profits from its power plant&rsquo s electricity sales to subsidise the operating costs of the desalination plant. PUB said on Thursday: " Tuaspring Pte Ltd stated that the Tuaspring desalination plant has been and will continue losing money for the next few years. The power plant is also incurring losses and the market condition is not expected to significantly improve in the near future." While PUB is optimistic that taking one loss-making plant off of Hyflux&rsquo s hands without claiming a compensation sum sweetens the deal for Salim-Medco, industry observers are less sure. Independent energy consultant Martin van der Lugt told  The Business Times: &ldquo PUB taking over the desalination plant makes sense. However, the power-plant is still worth very little. I can&rsquo t see the margins improving before 2023, and after 2023 it is yet to be seen that the situation improves. The fact remain that there is too much CCGT (combined cycle gas turbine) generation capacity competing for market share." If Tuaspring does not cure its defaults by April 5, PUB has the right to terminate the WPA by giving written notice of not less than 30 days to Tuaspring. PUB is expected to take over Tuaspring' s desalination plant in early May if the contract is terminated. https://www.businesstimes.com.sg/companies-markets/pub-says-salim-medco-should-not-use-it-as-excuse-to-pull-plug-on-hyflux-deal
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Goldfinger Supreme	22-Mar-2019 00:14        Goldfinger About Contact  Quote this Post!
x 0   x 0  Alert Admin	Game over - deserted at time of need.
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Bkng595 Member	22-Mar-2019 00:02        Bkng595 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Your logic same as mine.....can&rsquo t see how this is better off for shareholders, pnp, and creditors etc.  lukewong82      ( Date: 21-Mar-2019 23:48) Posted: Quote: "   Hyflux itself has noted that PUB' s actions, in the event that  national water agency elects to terminate the water purchase agreement, would be favourable to TPL" Why Hyflux only mention PUB terminate the water purchase agreement but never say PUB is taking over Tuaspring Plant at zero dollars? PUB Taking over Tuaspring plant at $0 means effectively Hyflux writing off $1.2billion right? They only written off $916M for Tuaspring.. now if given free to PUB means they have to write off $1.2billion, isn' t it worse? https://www.businesstimes.com.sg/companies-markets/hyflux-reports-s916-million-impairment-for-tuaspring-other-assets Bkng595      ( Date: 21-Mar-2019 23:13) Posted: A real lifesaver even the company said so below......😇 😇 😇 &ldquo However, Hyflux itself has noted that PUB' s actions, in the event that  national water agency elects to terminate the water purchase agreement, would be favourable to TPL, as this alleviates the pressure on the rest of the Hyflux Group, and also positively impacts Hyflux' s value and hence the value of the Hyflux shares being offered.    This will also increase the chances of Hyflux being successfully restructured.........&rdquo
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fundamentalhero Veteran	21-Mar-2019 23:51        fundamentalhero About Contact  Quote this Post! Style: Fundamental   Yells: "I NEED HONEYS AND MONIES"
x 0   x 0  Alert Admin	sounds like zero dollars to shareholders still and/or worse off [ not that something can be done to rectify this though ] less than 40% recovery for loans. [ unless restructuring continues then maybe increase - which it does not look like it will ] based on debt outstanding and etc. this is the most confusing turn of events. tryng to make out something only make me more lost.
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lukewong82 Master	21-Mar-2019 23:48        lukewong82 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Quote: "   Hyflux itself has noted that PUB' s actions, in the event that  national water agency elects to terminate the water purchase agreement, would be favourable to TPL" Why Hyflux only mention PUB terminate the water purchase agreement but never say PUB is taking over Tuaspring Plant at zero dollars? PUB Taking over Tuaspring plant at $0 means effectively Hyflux writing off $1.2billion right? They only written off $916M for Tuaspring.. now if given free to PUB means they have to write off $1.2billion, isn' t it worse? https://www.businesstimes.com.sg/companies-markets/hyflux-reports-s916-million-impairment-for-tuaspring-other-assets Bkng595      ( Date: 21-Mar-2019 23:13) Posted: A real lifesaver even the company said so below......😇 😇 😇 &ldquo However, Hyflux itself has noted that PUB' s actions, in the event that  national water agency elects to terminate the water purchase agreement, would be favourable to TPL, as this alleviates the pressure on the rest of the Hyflux Group, and also positively impacts Hyflux' s value and hence the value of the Hyflux shares being offered.    This will also increase the chances of Hyflux being successfully restructured.........&rdquo runaway      ( Date: 21-Mar-2019 22:14) Posted: It is free for PUB!   NGAPORE: National water agency PUB said on  Thursday (Mar 21) it is willing to purchase the Tuaspring Desalination Plant (TDSP) at zero dollars, if the company is unable to fulfil  its commitments under a water purchase agreement. PUB had on Mar 5 issued a  default notice to Hyflux subsidiary Tuaspring Pte Ltd (TPL), to remedy defaults under a water purchase agreement (WPA) between them.   Under the deal signed with PUB in 2011, Tuaspring has to deliver up to 70 million gallons of desalinated water per day to PUB for a 25-year period from 2013 to 2038. Tuaspring, however, has failed to keep the plant reliably operational as required,  PUB said earlier this month.  If  Tuaspring is still unable to fully resolve all defaults within the notice period, PUB said it will terminate the agreement and  take over only the desalination plant within the Tuaspring integrated water and power project. PUB added that it has the operational capabilities, experience and manpower to run the plant.   Read more at https://www.channelnewsasia.com/news/business/hyflux-tuaspring-pub-take-over-desalination-plant-zero-dollars-11367034
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Nainai Member	21-Mar-2019 23:23        Nainai About Contact  Quote this Post!
x 0   x 0  Alert Admin	Take over the plant not the company. Debt stay with company. kerier      ( Date: 21-Mar-2019 22:04) Posted: Does PUB have to take over the debts? Stephenchow      ( Date: 21-Mar-2019 21:56) Posted: If PUB bought only the desalination plant, there is a high likelihood that TPL  will have to pay PUB a compensation sum under the agreement.
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