| Latest Forum Topics / Hyflux Last:0.21 -- |
 Post Reply
|
|
Hyflux
|
|||||
|
ysh2006
Supreme |
30-Apr-2019 07:31
|
||||
|
x 0
x 0 Alert Admin |
Hyflux D day today whether Maybank will exercise power to take TP? | ||||
| Useful To Me Not Useful To Me | |||||
|
Stephenchow
Veteran |
29-Apr-2019 20:28
|
||||
|
x 0
x 0 Alert Admin |
Still got time ? still can decide? are you sure? Hyflux is forced to make more cost-cutting measures after the SM Investments deal fell apart. After a whirlwind of conflicts with investors and creditors and calls for resignation, the head of the embattled water treatment firm Hyflux, Olivia Lum, has declared that she will only draw a nominal annual salary of $1 until the company is successfully restructured. Lum also said in a court affidavit dated 23 April 2019 that the Hyflux board has agreed that no director fees will be proposed at the next annual general meeting for FY2018. Hyflux was forced to impose more cost-cutting measures after its previous deal fell apart with would-be white knight SM Investments, thereby breaking the restructuring agreement on 4 April. Lum noted that the company has reduced overheads (comprising payroll, rental, and other corporate costs) on a monthly basis from $5.9m in June 2018 to $3.3m in March 2019. &ldquo Overheads are projected to be further reduced to $2.5m in June 2019,&rdquo she said. Moreover, the number of employees has been slashed from 1,732 in March 2018 to 1,078 in March 2019 and is projected to shrink further to 980 in June 2019. Corporate headcount is expected to be reduced to 159 in June 2019. &ldquo I am fully cognisant of the patience and indulgence that has been shown to Hyflux by the various groups of stakeholders since the grant of the moratorium orders,&rdquo Lum said. |
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
Leehonghng
Member |
29-Apr-2019 16:14
|
||||
|
x 0
x 0 Alert Admin |
👍 👍 👍
OL, Please run faster!
|
||||
| Useful To Me Not Useful To Me | |||||
|
Starship
Supreme |
29-Apr-2019 13:49
|
||||
|
x 0
x 0 Alert Admin |
|
||||
| Useful To Me Not Useful To Me | |||||
|
Leehonghng
Member |
29-Apr-2019 13:42
|
||||
|
x 0
x 0 Alert Admin |
The company is closing down soon . . . . . They have to run first!
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
Nainai
Member |
29-Apr-2019 12:03
|
||||
|
x 0
x 0 Alert Admin |
Oh my... Hyflux innovations Center first 3 or years story clear out.... are these Hyflux office? |
||||
| Useful To Me Not Useful To Me | |||||
|
Leehonghng
Member |
28-Apr-2019 10:43
|
||||
|
x 0
x 0 Alert Admin |
Con people doing the con job! If you have S$ 2oo millions in your procession, do you : ［ 心 安 理 得 ？ ］ ❌
|
||||
| Useful To Me Not Useful To Me | |||||
|
Stephenchow
Veteran |
28-Apr-2019 09:52
|
||||
|
x 0
x 0 Alert Admin |
With innivation centre out of moratorium, is letter of demand coming soon? About S$120.9 million of claims has been filed by HSBC Institutional Trust Services (Singapore), the trustee of Ascendas REIT, for rent guarantee related to the lease of Hyflux Innovation Centre and the Hyflux Building at Kallang Bahru. Another landlord ESR REIT also had its trustee, RBC Investor Services Trust Singapore, file claims of S$150 million in relation to the lease of Tuas Hub. |
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
sheerluck
Supreme |
27-Apr-2019 16:32
Yells: "Work for your money first then let your money work for you" |
||||
|
x 0
x 0 Alert Admin |
That's why must be shameless to be rich. Taking a $1 salary after pocketing millions from the company that she built is like a big sacrifice compared to those who stand to lose their life saving from the same company that she built. What a gracious society we have.
Nicely done!
|
||||
| Useful To Me Not Useful To Me | |||||
|
Leehonghng
Member |
27-Apr-2019 14:12
|
||||
|
x 0
x 0 Alert Admin |
Hello JCV, after she have cleared with the Commercial Affairs Department, she will be bye-bye to all our us, and back to her home town with the so-called USD 200 millions.
|
||||
| Useful To Me Not Useful To Me | |||||
|
Leehonghng
Member |
27-Apr-2019 12:52
|
||||
|
x 0
x 0 Alert Admin |
Looking at the present situation, I believe the company will not be able to last for another month or so! God bless. | ||||
| Useful To Me Not Useful To Me | |||||
|
Leehonghng
Member |
27-Apr-2019 12:47
|
||||
|
x 0
x 0 Alert Admin |
She will be getting S$ 1.00 monthly salary for another month or so, then after that, the con company will close shop!
|
||||
| Useful To Me Not Useful To Me | |||||
|
|
|||||
|
Starship
Supreme |
27-Apr-2019 11:23
|
||||
|
x 0
x 0 Alert Admin |
This must be the Story of the Year................    Olivia Lum says she will take S$1 salary until Hyflux is restructured FRI, APR 26, 2019 - 5:50 AM AMID cries for her to step down or be replaced by a judicial manager, Hyflux chief Olivia Lum has decided to take a pay cut in another late show of solidarity with retail investors who face combined losses of more than S$900 million. " I have decided that henceforth, I................................ (BT Premium article) https://www.businesstimes.com.sg/companies-markets/olivia-lum-says-she-will-take-s1-salary-until-hyflux-is-restructured |
||||
| Useful To Me Not Useful To Me | |||||
|
Observers
Elite |
26-Apr-2019 21:53
|
||||
|
x 0
x 0 Alert Admin |
No more money for salary? VP for ops also leaving it seems.
|
||||
| Useful To Me Not Useful To Me | |||||
|
bicycle
Member |
26-Apr-2019 20:24
|
||||
|
x 0
x 0 Alert Admin |
Hats off to you for being able to remain positive and humourous, despite a bad investment. | ||||
| Useful To Me Not Useful To Me | |||||
|
Stephenchow
Veteran |
26-Apr-2019 20:14
|
||||
|
x 0
x 0 Alert Admin |
As shareholder, I think $1 is still to high, should only ask for $0.99 or 99 cents reasons being:- 1. Can claim to other CEOs that get $1 salary that her salary is still 1c lower or cheaper 2. More innovative 3. She will needs to check with her truck load of lawyers whether this $1 strategy is copyrighted by those old uncle/aunties that sell 3 packs of tissue paper of $1 at hawker centres or not $1 startegy will give people wrong impression that CEO also need to sell tissue paper for living
|
||||
| Useful To Me Not Useful To Me | |||||
|
guards80
Supreme |
26-Apr-2019 17:56
|
||||
|
x 0
x 0 Alert Admin |
After Hyflux' s fall, Singapore debt buyers are scrutinizing these firmshttp://www.businesstimes.com.sg/companies-markets/after-hyfluxs-fall-singapore-debt-buyers-are-scrutinizing-these-firms |
||||
| Useful To Me Not Useful To Me | |||||
|
investshare
Supreme |
26-Apr-2019 17:22
|
||||
|
x 0
x 0 Alert Admin |
Why this guy jump from ST Aero to Hyflux??? Hyflux vice president for operations Chang Cheow Teck to step down He held the position for more than a year from November 2017. The group executive vice president of operations at Hyflux, Chang Cheow Teck, is slated to resign on April 30 amidst the firm?s restructuring process to pay out its debts, an announcement in SGX revealed. Chang held the position for more than a year from November 2017. He was responsible for overseeing the TuasOne project before looking after the execution of Oman Qurayyat, Algeria and Saudi Arabian projects, He was previously the president of Singapore Technologies Aerospace Ltd. |
||||
| Useful To Me Not Useful To Me | |||||
|
like2learn
Veteran |
26-Apr-2019 12:53
|
||||
|
x 0
x 0 Alert Admin |
http://investors.hyflux.com/news.html/id/714063
Change - Announcement Of Cessation :: Announcement Of Cessation Of Group Executive Vice President, Operations Role and responsibilities : Assisted the Group CEO in designated areas/issues. From November 2017 till April 2018, was overseeing the execution of the TuasOne project. From May 2018, apart from overseeing the TuasOne project, began overseeing the execution of the Oman Qurayyat project, Algeria project and the Saudi Arabian projects. |
||||
| Useful To Me Not Useful To Me | |||||
|
Leehonghng
Member |
26-Apr-2019 09:58
|
||||
|
x 0
x 0 Alert Admin |
MBB already served hyflux notice to take procession on the subject plant MBB incurred a big loss on this project financing!
|
||||
| Useful To Me Not Useful To Me | |||||