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Hyflux
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john8758
Member |
12-Feb-2018 18:11
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The Board of Directors of Hyflux Ltd (the " Company" or &ldquo Hyflux&rdquo ) refers to the Company&rsquo s announcement dated 28 December 2017 on the above proposed dividend in specie of shares in HyfluxShop Holdings Pte. Ltd., the notice of books closure date announcement dated 28 December 2017, the Company&rsquo s announcement dated 17 January 2018, the circular to Shareholders dated 17 January 2018 (the &ldquo Circular&rdquo ) and the Company&rsquo s announcement on 1 February 2018 at 12.49 pm and the online article by The Business Times dated 1 February 2018 titled &ldquo SIC: Hyflux&rsquo s Lum must make offer for HyfluxShop following dividend in specie&rdquo . Unless otherwise defined, all capitalised terms not defined herein shall have the same meanings ascribed to them in the Circular. Following further discussions with and guidance from the Securities Industry Council (&ldquo SIC&rdquo ), the Company wishes to clarify that on 31 January 2018, the SIC informed the Company, through the Company&rsquo s legal advisers, that the Controlling Shareholder Purchase which was made available to all HyfluxShop Shareholders as set out in the Circular constituted an &ldquo offer&rdquo under the Code. Accordingly, the specific requirements of the Code relating to an offer would apply to any purchases of HyfluxShop Shares made under the Controlling Shareholder Purchase. Examples of such requirements include safeguards such as providing minority shareholders with sufficient time and information (including independent financial advice) to enable them to reach an informed decision on an offer. The Company understands that the SIC had noted, and so informed the Company, that the Controlling Shareholder Purchase constituted an &ldquo offer&rdquo under the Code in the course of reviewing an application dated 19 January 2018 to seek a confirmation that the Controlling Shareholder would not be required to make a mandatory offer for HyfluxShop Shares in the event that, as a result of the Controlling Shareholder Purchase, she acquires HyfluxShop Shares which would result in her crossing the 30% mandatory offer threshold. The SIC was not consulted in respect of the Controlling Shareholder Purchase. For the avoidance of doubt, the ruling from the SIC dated 14 December 2017, as set out under paragraph 4.2 of the Circular, is separate, distinct and still applicable. It should also be noted that the intent of the Controlling Shareholder Purchase is to provide an avenue for HyfluxShop Shareholders to sell their unlisted HyfluxShop Shares, without having to search for willing purchasers, to the Controlling Shareholder, subject always to the applicable requirements of the Code and the ruling from the SIC as set out in paragraph 4.2 of the Circular. The Controlling Shareholder was not required to make a mandatory offer for HyfluxShop under Rule 14.1 of the Code following the dividend in specie. The Company understands that the Controlling Shareholder remains prepared to make an offer in compliance with the Code to all HyfluxShop Shareholders, save for all parties acting in concert with her (including the Company), for all the HyfluxShop Shares that they will hold following the completion of the Proposed Distribution, at the same price as applicable for the Controlling Shareholder Purchase, being S$0.1783 for each HyfluxShop Share. Consequently, on the launch of such a general offer, the 29.99% limit on the number of HyfluxShop Shares in respect of the Controlling Shareholder Purchase will no longer apply, and the procedures and settlement processes in respect of the Controlling Shareholder Purchase as set out in the Circular will be revised based on the requirements as set out under the Code. The Company will make appropriate announcement(s) in the event that there are any further material developments on this matter | ||||
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ysh2006
Supreme |
04-Feb-2018 09:28
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Singaporean buy from PUB,EMA lah all new HDB flat where got ask you buy from Hyflux power and water one ?....
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lionhill
Veteran |
03-Feb-2018 22:43
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http://aspire.sharesinv.com/40843/si-research-hyflux-water-probably-the-most-important-resource/ http://www.probutterfly.com/blog/hyflux-s-worrying-cash-flow-situation It seems Hyflux has difficulty in divesting Tuas Spring as it is loss-making? but it is strange that there is no news of the Tianjin project, either. On the other hand, if the loss in Tuas Spring is really due to low price in SIngapore, shouldn' t the goverment raise the price or increase the subsidy? After all, we need someone to provide water and electricity, and in the meantime, no company can sustain long-term loss. |
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john_ric
Supreme |
01-Feb-2018 15:39
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hmmm cant rule out paying bond by hyfluxshop.
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john_ric
Supreme |
01-Feb-2018 15:35
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dont know hyflux bb is ignorant or purposely act blur?? | ||||
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Just4win
Supreme |
01-Feb-2018 15:34
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Si mi da ji ? How does this affect the bond holders? Dividends in the form of fyfluxshop iso cash ?
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bernardc
Elite |
01-Feb-2018 15:18
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MOST PROBABLY...OLIVIER LUM OWNS MORE THAN 30% OF HYFLUX.. SO ON DIVIDEN IN SPECIE..OVER 30% HAVE TO MAKE OFFER.. WHITE WASH REQUEST LATER..
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bernardc
Elite |
01-Feb-2018 15:07
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EVEN BEFORE STSRTED TRADING..TAKE OVER..OFFER..FIRST TIME IN HISTORY
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john_ric
Supreme |
01-Feb-2018 14:51
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" Controlling Shareholder is prepared to make a general offer in compliance with the Code to all HyfluxShop Shareholders," who is the Controlling Shareholder? |
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john_ric
Supreme |
01-Feb-2018 14:38
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hyflux and bonds halted. H. another noble or o& G case?? dont feel good. |
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gigabite
Member |
30-Jan-2018 12:42
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Why is there a sudden drop today? Another quarterly loss? | ||||
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SuperLuckyCorn
Supreme |
25-Jan-2018 15:04
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Winwin....so nice Hyflux Percapsec# bond go up by so much...Bond much better than the Hyflux shares. Huat ah. \(^_^)/\(^_^)/
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john_ric
Supreme |
25-Jan-2018 12:44
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to redeem 6% PCS 100 in april?? | ||||
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investshare
Supreme |
17-Jan-2018 14:02
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Paid and spent?
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Just4win
Supreme |
17-Jan-2018 11:01
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Below was ciriculated from Maybank KE this morning.
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angmohlin
Veteran |
17-Jan-2018 10:25
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Had been paid the interim award? When? Why no announcement.
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Qanghoo
Supreme |
17-Jan-2018 09:45
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SGD abt 36 mil. Positive for bottomline. Also gain from sale n partial leaseback of Tuas property will show a gain of 39 mil. So, for the time being, loss, if any, will be limited. In any case, as I understand it, most of the losses arose from the challenging spore electricity mkt. With oil px on the up, n spore elec px following suit, this cld be a respite for Hflux. But then again, the further liberalisation of the elec mkt here cld be a fresh wild card n a new challenge for Hflux. Also, do note another contractual dispute looming - this time with Tuas One partner MHI (also going for arbitration as provided in the agreement).
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Just4win
Supreme |
17-Jan-2018 09:16
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*Hyflux - SEPCOIII Electric was ordered to pay Hyflux US$2.7m in interest and US$4.2m in arbitration costs following settlement of a dispute. - To recap, the dispute arose out of a contract involving EPC work for a desalination facility in Salalah, Oman. - This brought total payment to US$23m, of which US$16.1m had been paid under the interim award in Sep &rsquo 17 |
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angmohlin
Veteran |
16-Jan-2018 22:59
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Have to wait & see whether Hydrochem able to collect payment of USD 23,115,779.01 from SEPCOIII of Oman and/or whether SEPCOIII want to appeal or not. | ||||
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john8758
Member |
16-Jan-2018 18:29
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was commenced by Hydrochem (S) Pte. Ltd. (&ldquo Hydrochem&rdquo ), a wholly owned subsidiary of Hyflux Ltd (&ldquo Hyflux&rdquo ), against SEPCOIII Electric Power Construction Corporation (&ldquo SEPCOIII&rdquo ) in relation to disputes which arose out of an engineering and procurement contract dated 28 August 2009 for the development, design and manufacture of certain desalination units for a desalination facility in Salalah, Oman. On 31 August 2017, the Tribunal issued its Interim Award (on all issues save for interest and costs) in the arbitration. The Board of Directors of Hyflux wishes to announce that on 15 January 2018, the Tribunal issued its Final Award (on interest and costs) in the arbitration. In addition to the net sum of USD16,127,621.71 (the &ldquo Principal Sum&rdquo ) that the Tribunal has ordered SEPCOIII to pay Hydrochem under the Interim Award, the Tribunal has ordered SEPCOIII to pay Hydrochem (a) the total sum of USD2,741,944.40 by way of interest up to the date of the Final Award and thereafter (ie. from 16 January 2018) at the daily rate of USD1,791.80 until payment of the Principal Sum, and (b) the sum of SGD4,246,212.90 representing Hydrochem&rsquo s reasonable costs of the arbitration and the sum of S$402.52 per day as interest on such sum from 16 January 2018 until the date of payment thereof. | ||||
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