| Latest Forum Topics / Hyflux Last:0.21 -- |
 Post Reply
|
|
Hyflux
|
|||||
|
lukewong82
Master |
05-Mar-2019 21:15
|
||||
|
x 0
x 0 Alert Admin |
If PUB buys Tuas Spring at market price just like how they buy over the land for MRT construction, then is not bail out liao.. BUT if PUB buys Tuas Spring at book value of around $1.47 billion, then is bail out ... BUT sure many ppl will protest why PUB buy at such a high price when market value is only $650 million. Based on what the govt offer land owners for MRT construction, is based on MARKET price and not based on book value...
|
||||
| Useful To Me Not Useful To Me | |||||
|
lukewong82
Master |
05-Mar-2019 21:12
|
||||
|
x 0
x 0 Alert Admin |
I think is based on market price just like those properties which are slated for MRT construction, govt will buy over the land at market price. So since Hyflux already mentioned that market price of the Tuas Spring is around $650million, PUB will buy at the market price of $650 million. So minus away the debt, Hyflux will be in net liability position aka bankrupt. Basically it means liquidation and PUB is the sole buyer. So in this scenerio, the bank especially Maybank will get back of most the $650million.. then nothing left for the rest liao.. https://www.theedgesingapore.com/hyflux-takes-916-mil-impairment-tuaspring-and-other-receivables Quote: " The Tuaspring plant is part of the Tuaspring disposal group which is classified under " held for sale" assets. At the end of March 2018, these assets were valued at $1.47 billion. At the end of September 2018, the assets were valued $824 million lower at $651 million. "
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
like2learn
Veteran |
05-Mar-2019 20:34
|
||||
|
x 0
x 0 Alert Admin |
Er, like that means what ? all along many people thought why garmen don' t bid to bail out Hyflux, now garmen trying to say actually it can seize i.e. FOC ? *confused* ?????
|
||||
| Useful To Me Not Useful To Me | |||||
|
Stephenchow
Veteran |
05-Mar-2019 20:27
|
||||
|
x 0
x 0 Alert Admin |
PUB issues default notice to Hyflux' s Tuaspring warns will take control of plant if defaults not resolvedhttps://www.straitstimes.com/business/pub-issues-default-notice-to-hyfluxs-tuaspring-warns-will-take-control-of-plant-if-defaults |
||||
| Useful To Me Not Useful To Me | |||||
|
Stephenchow
Veteran |
05-Mar-2019 20:22
|
||||
|
x 0
x 0 Alert Admin |
Hell break loose:-
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
john_ric
Supreme |
04-Mar-2019 11:07
|
||||
|
x 0
x 0 Alert Admin |
.money already conned by that jinx. lan lan must move forward.
|
||||
| Useful To Me Not Useful To Me | |||||
|
Stephenchow
Veteran |
03-Mar-2019 21:29
|
||||
|
x 0
x 0 Alert Admin |
HYFLUX has taken a S$916 million impairment for the nine months ended Sept 30, to adjust for a fall in carrying value of the Tuaspring water and power plant and other write-downs. This figure was released on Saturday, after Hyflux submitted its latest statement of financial position to the High Court. " The impairment loss . . . relates predominantly to the impairment loss arising from the assessment of the carrying value of Tuaspring and the impairment of receivables for previously completed projects," the water cleaning company wrote. Hyflux had asked a valuer to conduct an up-to-date valuation of the Tuaspring plant, but no exact figure was shared in the submission. The plant is part of the Tuaspring disposal group, classified under " held for sale" assets. At the end of March 2018, these assets were assigned a value of S$1.47 billion. In a court affidavit filed last June, Hyflux chief Olivia Lum said that the Tuaspring plant had a book value of S$1.3 billion.
At the end of September 2018, the value of Hyflux' s held-for-sale assets was S$651 million, or S$824 million lower.
Hyflux said: " This valuation is based on the most recent market study conducted by K4K Training & Advisory SL, the same consultant who did a similar market study in 2016 (which supported the valuation then). The view taken in this most recent market study is significantly different from that in 2016 due to . . . the losses in the electricity market in the recent years and the projected lower spark spreads for the remaining concession period." Noting that the current valuation is " significantly lower" than that adopted in 2016, Hyflux said that it intends to commission a further valuation to be undertaken by a different valuer for the purposes of finalising the 2018 full-year financial results. " As the carrying value is a reflection of the current depressed market, in the event that the Singapore power market recovers to provide generation companies with sufficient spark spread margins, the valuation might then be revised," Hyflux said. David Gerald, president of the Securities Investors Association (Singapore) or Sias, said that the provision for impairment was needed to reflect the " true value" of Hyflux' s assets amid the restructuring exercise.The impairment has put the Hyflux group in a net liability position of S$136 million, indicating that the group is insolvent. Mr Gerald said: " Hyflux will thus be valueless if no restructuring is done." If the Salim-Medco deal goes through, Hyflux' s debt securities holders and senior unsecured lenders will be cleaned off the balance sheet. Retail perpetual and preference share holders will have their S$900 million in claims swapped for S$27 million in cash and S$69.2 million shares, assuming that the shares are valued at 3.4 cents apiece. That works out to a 10.7 per cent recovery rate on their principal. Hyflux noted that the pro forma unaudited financials are for " illustrative purposes" and may not reflect the actual consolidated financial information of Hyflux after the restructuring. No cashflow projections have been shared yet. Hyflux will hold a third round of town hall meetings with retail creditors on March 13 to discuss the restructuring scheme. At a scheme meeting on April 5, creditors will decide whether Hyflux should be restrcutured or liquidated. |
||||
| Useful To Me Not Useful To Me | |||||
|
gravity8888
Supreme |
03-Mar-2019 14:38
|
||||
|
x 0
x 0 Alert Admin |
Since can't take back my investment.. I will vote to liquidate the company | ||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
Stephenchow
Veteran |
03-Mar-2019 11:53
|
||||
|
x 0
x 0 Alert Admin |
AngMo like to say:- Scare the sh*t and Scare the hell out of you Ah Tiong like to say: - 吓 尿 你 , Scare the urine out of you This saga really Scare the Urine, Sh*t and Hell out of you 
|
||||
| Useful To Me Not Useful To Me | |||||
|
Stephenchow
Veteran |
03-Mar-2019 11:28
|
||||
|
x 0
x 0 Alert Admin |
Assuming the successful completion of the Proposed Restructuring, the capital structure of the Company as of the Restructuring Effective Date is envisaged to be as follows: Current: Number of Shares :- 785,284,989 After the completion of the Debt Conversion Shares Issuance and the Investment Shares Issuance :-19,632,124,725 (19 Billion shares?)  After the completion of the Proposed Restructuring , Pro-forma NTA per Share (cents) :- 4.2 https://www.hyflux.com/wp-content/uploads/2019/03/Affidavit-1-March-2019.pdf Guess will need 100 trillion years to recover my investment.
|
||||
| Useful To Me Not Useful To Me | |||||
|
investshare
Supreme |
03-Mar-2019 11:14
|
||||
|
x 0
x 0 Alert Admin |
It confirms 2 things:
1. Tuaspring Book value was overstated, and not impair in time for past few years 2. Hyflux problem not limited to Tuaspring only
|
||||
| Useful To Me Not Useful To Me | |||||
|
alidaud
Senior |
03-Mar-2019 10:12
|
||||
|
x 0
x 0 Alert Admin |
http://cakap.net/gann-square-of-9/?s=hyflux& cp=0.21 | ||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
Stephenchow
Veteran |
03-Mar-2019 09:59
|
||||
|
x 0
x 0 Alert Admin |
凯 发 集 团 上 财 年 首 九 个 月 净 亏 高 达 11亿 元 ， 亏 损 暴 增 因 为 包 括 9亿 1600万 元 的 价 值 减 损 。 这 笔 巨 额 减 损 ， 主 要 来 自 大 泉 水 电 厂 账 面 价 值 以 及 早 前 完 成 项 目 的 应 收 账 项 。 凯 发 集 团 （ Hyflux） 上 财 年 首 九 个 月 净 亏 高 达 11亿 元 ， 亏 损 暴 增 因 为 包 括 了 9亿 1600万 元 的 价 值 减 损 。 这 笔 巨 额 减 损 主 要 来 自 大 泉 水 电 厂 （ Tuaspring） 的 账 面 价 值 ， 以 及 早 前 完 成 的 项 目 的 应 收 账 项 。 |
||||
| Useful To Me Not Useful To Me | |||||
|
Stephenchow
Veteran |
03-Mar-2019 09:56
|
||||
|
x 0
x 0 Alert Admin |
Loss big time:- $1.1B https://www.hyflux.com/wp-content/uploads/2019/03/Affidavit-1-March-2019.pdf Loss for the period (1,147,305) (435,893) |
||||
| Useful To Me Not Useful To Me | |||||
|
runaway
Senior |
03-Mar-2019 07:14
|
||||
|
x 0
x 0 Alert Admin |
Imvestment 101 will tell you this: High Return = Hig Risk. Hyflux pays 6-8% interest while Government bonds 3%. Take it as a lesson learned. There is no free lunch. |
||||
| Useful To Me Not Useful To Me | |||||
|
investshare
Supreme |
02-Mar-2019 17:21
|
||||
|
x 0
x 0 Alert Admin |
On your comment about bank, this is where LKY is smarter than MHT.
Think about it, the water plant essentially built using Maybank money, now no need to pay back.
|
||||
| Useful To Me Not Useful To Me | |||||
|
Investor8
Master |
02-Mar-2019 17:01
|
||||
|
x 0
x 0 Alert Admin |
Maybe retail investors should get together to consider if there is a possibility of suing any parties in this fiasco. A class-action perhaps? I have no vested interest but I feel much aggrieved for the huge number of mom-and-pop investors who only considered the high yields in the perpetual securities without considering the risks. I am also puzzled by the fact that the company had a set of unqualified accounts but became insolvent within 5 months of its published accounts. For such a big company, the deterioration in its financial health and solvency must surely be apparent to " insiders" long before then. Reminds me of a similar case, i.e. Enron, in the USA many years back. Nearer home, Noble Group is a more recent example.
|
||||
| Useful To Me Not Useful To Me | |||||
|
zillion
Master |
02-Mar-2019 16:46
|
||||
|
x 0
x 0 Alert Admin |
Agree govt must not bail out any private enterprises. But back in the early days, Hyflux was poster boy for govt in its water mission. Natually when the bonds/perpetuals were issued all the those elderly folks with their hard earned savings bought up the perps with higher yields than bank savings/deposit rates, believing in our govt' s mission of water as a very precious livelihood to all. Nobody is greedy in fact these old folks are supporting our basic neccessitiies. Do we hold SGX accountable for allowing companies to issue bonds/perps to con retail investors esp the elderly\ies who are looking for fixed income to supplement their daily needs? Banks are being conned thinking that water is a vital part for this tiny island and agreed to lend Hyflux. Here the difference is banks can write off against its whatever losses and pay lesser tax. Real Shame to our govt when it comes to our water survival. | ||||
| Useful To Me Not Useful To Me | |||||
|
gravity8888
Supreme |
02-Mar-2019 16:19
|
||||
|
x 0
x 0 Alert Admin |
https://www.straitstimes.com/asia/se-asia/johor-plans-to-stop-buying-treated-water-from-singapore-mentri-besar-osman-sapian
Hahah let maybank as the bigger creditor take hyflux to liquidation n then take over it.. Spore government dun like then bill out hyflux lo. Haha |
||||
| Useful To Me Not Useful To Me | |||||
|
Wind22i
Supreme |
02-Mar-2019 11:31
|
||||
|
x 0
x 0 Alert Admin |
Welcome to singapore !
|
||||
| Useful To Me Not Useful To Me | |||||