| Latest Forum Topics / Hyflux Last:0.21 -- |
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Undervalued ?
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lukewong82
Master |
16-May-2019 19:52
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After Tuas Spring water and power both gone.. I wonder would it end up like Midas eventually. Look at Midas results below 
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Goldfinger
Supreme |
16-May-2019 19:20
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With such (non) sense, no wonder this company became a goner....
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guards80
Supreme |
16-May-2019 19:13
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http://www.channelnewsasia.com/news/business/hyflux-s-uae-investor-plans-to-meet-retail-investors-asks-pub-to-11540006
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Starship
Supreme |
16-May-2019 19:13
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Utico offers town hall for Hyflux investors, wants to restart talks with PUB THU, MAY 16, 2019 - 6:31 PM EMIRATI utilities group Utico has invited Hyflux' s junior creditors to meet with it in the coming days, as it seeks to rack up support for a potential investment in the insolvent water treatment company. In a statement to the media on Thursday, Utico said it wants to meet with Hyflux' s retail perpetual and preference share holders (PNP), who sunk a total of S$900 million into Hyflux. Utico' s gesture is " a strong sign of bonafide intent" , Utico said. It is one of three potential rescuers that Hyflux has recently deepened talks with. Discussions with Utico are based on a possible injection of S$400 million, but no binding offer has been signed yet, Hyflux said on Tuesday. Richard Menezes, chief executive of Utico, said on Thursday: " We understand that the (PNP) investors of Hyflux are the ones who will suffer the most as junior unsecured creditors and their position and support must be resolved first. " We will discuss and put a solid proposal after we hear them out. It is a fact that these investors are unsecured and/or any redemption or coupon must be a win-win deal," he added. Utico also wants to restart negotiations with national water agency PUB. The Tuaspring integrated water and power plant, though loss-making, was Hyflux' s largest asset. On Apr 17, PUB issued a notice to Tuaspring to terminate its water-purchase agreement. The termination notice provided a 30-day notice period before PUB takes over the desalination plant. Utico said it made a request to PUB on Wednesday to delay its seizure of the desalination plant. " This consensual settlement of the situation will build confidence and reputation." A Utico spokesman told The Business Times (BT): " PUB was requested yesterday officially and they are yet to respond." BT has reached out to Hyflux and PUB for comment. It is unclear if PUB' s earlier decision to take over ownership of the Tuaspring desalination plant for zero dollars and zero cost to Hyflux is open for negotiation. However, Utico has argued that allowing it to enter into a deal with Hyflux, " which would provide for remedial and rectification action of the plant to PUB' s satisfaction and goodwill" , will build confidence in Hyflux, which is a company that investors believed in. Mr Menezes said: " This was an asset built with PNP money. We feel PNP money and assets must be secured first since the (offering) prospectus stated the use of the funds for it." He said that Tuaspring was a strategic asset of Hyflux and for Singapore: " We are prepared to work with Hyflux to ensure it performs without compromising any security aspects and ensure that this asset provides a return as well with PUB support." As of last week, Utico was still doing its due diligence on Hyflux. Utico said: " Details of the PNP meeting with any regulatory approvals/permissions will be announced soon." Mr Menezes stressed: " A white knight investor cannot be an investor that only wants Hyflux and its assets or its businesses. It is a must that a fair and quick resolution is found for investors in the preference shares and perpetual bonds. Utico wants to be such a white knight investor." Hyflux is not legally obliged to pay its perp and pref share investors under current conditions, Utico noted. " This is compounded further if the company is either sold to funds, to investors seeking overseas assets or goes into judicial management." On Wednesday, a mystery investor sent Hyflux a non-binding letter of interest to acquire certain of its assets in Algeria, Oman, the Middle East and the North Africa region. Hyflux declined to identify this mystery investor, revealing only that it is one of the top 10 largest desalination companies globally, and a subsidiary of one of the world' s leading infrastructure firms. Separately, Hyflux is also in discussions with Oyster Bay Fund, a global multi-strategy investment fund incorporated in Bermuda, which Hyflux hopes could lead to a S$500 million investment, subject to due diligence and the execution of a definitive agreement. https://www.businesstimes.com.sg/companies-markets/utico%C2%A0offers-town-hall-for-hyflux-investors-wants-to-restart-talks-with-pub |
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guards80
Supreme |
16-May-2019 19:11
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Utico says it has asked PUB if it can delay the takeover of Tuaspring desalination plant, which is scheduled to happen this Saturday. | ||||
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investshare
Supreme |
16-May-2019 06:35
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Biggest question yet to be answered:
Why the Billion $ book value of TS was not impaired?
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ysh2006
Supreme |
16-May-2019 06:22
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x 0
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Those white knight outside Sg only interested Hyflux oversea assets not Sg TS...
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destinykraze
Elite |
16-May-2019 00:00
Yells: "Reality is only a matter of perception" |
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x 0
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What huge losses? perp securities holders would lose 100%. Should have put those money in Singapore savings bonds if they want it to be risk free.
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Bkng595
Member |
15-May-2019 23:38
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The cash incinerators are gone. Pub takes over the desal plant and Maybank takes over the power plant. Just like magic, $1.5b disappear in thin air and coy think this is a good development for the restructuring.....how sad can the saga get....... what else left? The remaining projects are not much better, many not operating per customer specs and have claims by customers. Now interested parties are like vultures looking for free meat.....call it fire sale, call it liquidation, call it restructuring, the bottom line is the same...perp, bond and shareholders will suffer huge losses...... who are responsible?????? |
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destinykraze
Elite |
15-May-2019 21:43
Yells: "Reality is only a matter of perception" |
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x 0
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Does not matter. Banks and PUB taking it apart. The rest may follow.
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Stephenchow
Veteran |
15-May-2019 20:49
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Is Losing plant FOC better than Fire Sales?   On 28 April 2018:- Chief executive and chairman Olivia Lum told a results briefing last night: " The last thing we want is a fire sale. We believe that we have a good asset, we have a good track record, still have a brand name. Why are we cornered? We know what we are doing." We have no shortage of interested parties talking to us. On 23 April 2019:- But the removal of Tuaspring IWPP is deemed positive by Hyflux founder Olivia Lum for the group' s restructuring. " By excluding loss-making projects such as the Tuaspring IWPP, potential strategic investors need not factor into their investment proposal the need to keep funding such assets," Ms Lum had said in court papers filed on April 23. |
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Starship
Supreme |
15-May-2019 19:28
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More suitors turned up for the wedding.......................  HYFLUX LTD Company Registration No.: 200002722Z (Incorporated in the Republic of Singapore) UPDATES ON REORGANISATION PROCESS &ndash RECEIPT OF NON-BINDING LETTER OF INTEREST FOR ACQUISITION OF SPECIFIED ASSETS Hyflux Ltd. (the &ldquo Company&rdquo , and together with its subsidiaries, the &ldquo Group&rdquo ) refers to its ongoing court supervised reorganisation process and announcements on 25 April 2019, 3 May 2019 and 10 May 2019 in relation to receipt by the Company of non-binding letters of intent from potential investors. The Company has received a non-binding letter of interest from a potential investor (the &ldquo Investor&rdquo ) stating its intention to acquire certain of the Company&rsquo s assets in Algeria and Oman, as well as other assets in the Middle East and North Africa region (the &ldquo Proposed Transaction&rdquo ). The Investor&rsquo s interest also includes the operation and maintenance activities relating to these assets. The Company understands that the Investor is one of the top 10 largest desalination companies globally. The Investor is a subsidiary of one of the world&rsquo s leading infrastructure companies which is highly ranked for its expertise in transportation and greenfield infrastructure with a presence and workforce spanning 5 continents. The Investor is a specialist in engineering, construction, operation and maintenance of water treatment facilities, in particular water desalination plants, with a focus on build-own-operate-transfer, management of concessions and related services. The Investor intends the Proposed Transaction to grow its portfolio of desalination plants. The Proposed Transaction is subject to regulatory clearance, due diligence and the execution of a binding agreement with terms to be mutually agreed. The Investor is conscious of the timeline and has indicated that it would be willing to devote all necessary resources to ensure that the due diligence process and the consummation of the Proposed Transaction (if any) are carried out in the shortest possible timeframe. While the Company will consider all serious offers and expressions of interest received, the priority remains for a strategic investor for the entire Group. The Company is continuing its engagement with all potential investors and will make the appropriate announcements as and when there are any further material developments on the above matter. BY ORDER OF THE BOARD Lim Poh Fong Company Secretary Submitted to SGX-ST on 15 May 2019 |
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like2learn
Veteran |
15-May-2019 19:21
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hyflux was suspended for quite long right ? how come suddenly got so many bidders ??? where were these bidders previously - not aware ? | ||||
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destinykraze
Elite |
15-May-2019 17:13
Yells: "Reality is only a matter of perception" |
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Means it is game over. Period. Finally, have closure on this issue already. Once liquidated, those investors can finally move on.
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Starship
Supreme |
15-May-2019 12:24
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Hyflux set to lose Tuaspring Integrated Water and Power Plant May 15, 2019 06:00 am Hyflux is set to lose its Tuaspring Integrated Water and Power Plant (IWPP), which was once its largest asset but has now been flagged by some analysts as a millstone around the embattled water treatment company' s neck. Yesterday, it announced that Maybank, Tuaspring' s only secured creditor, has appointed Mr Timothy James Reid, a partner of insolvency and restructuring company Ferrier Hodgson, and its executive director Theresa Ng Yau Yee, as receivers and managers, to take over the Tuaspring power plant. If the Tuaspring power plant is sold by the receivers, then it would no longer be part of the Hyflux group, Hyflux said. Last month, Maybank terminated a collaboration agreement relating to the divestment of the Tuaspring integrated plant, and had announced it intended to appoint receivers and managers over the facility' s remaining assets. This followed national water agency PUB' s notice to Hyflux that it will terminate the water purchase agreement on May 17 and take over the Tuaspring desalination plant - a key water supply source - as well as shared infrastructure and related assets on May 18. But the removal of Tuaspring IWPP is deemed positive by Hyflux founder Olivia Lum for the group' s restructuring. " By excluding loss-making projects such as the Tuaspring IWPP, potential strategic investors need not factor into their investment proposal the need to keep funding such assets," Ms Lum had said in court papers filed on April 23. Tuaspring, the first water plant in Asia to be integrated with power generation capabilities, cost Hyflux $1.05 billion in all. But it has been a drag on earnings since it began operations in March 2016. At the heart of Hyflux' s troubles lies its expansion into the energy business through Tuaspring, where profits from the power plant were to have been used to subsidise the desalination plant' s operation costs. But electricity prices collapsed and operating losses from the desalination plant caused Hyflux to sink into debt. Hyflux clarified yesterday it had received only a draft term sheet from potential white knight United Arab Emirates utility company Utico, contrary to a Reuters report on Sunday that said a binding offer to invest has been submitted. In the Reuters report, Utico managing director Richard Menezes had said a binding term sheet to invest $400 million in Hyflux has been submitted. Hyflux said yesterday it was told by Utico' s advisers this draft term sheet, sent to Hyflux on May 6, is to be regarded as a binding term sheet. But it clarified: " To avoid doubt, the company has not accepted or entered into the binding term sheet. The company' s advisors are engaged in active discussions with Utico' s advisers to finalise the proposed terms of Utico' s investment." https://www.tnp.sg/news/business/hyflux-set-lose-tuaspring-integrated-water-and-power-plant |
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Starship
Supreme |
15-May-2019 00:15
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Very soon we' ll even hear the Emperor Penguins from Antarctica are bidding for the company................... 
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Stephenchow
Veteran |
14-May-2019 21:36
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Is ithe draft term sheet handwritten with pencil? so that easy to erase off and recycle the paper in case no deal again? Also clarified on Tuesday that it had received only a draft term sheet on May 6 from the advisers of United Arab Emirates utility Utico. This is contrary to a Reuters report on May 12 that said a binding offer to invest had been submitted. |
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Bkng595
Member |
14-May-2019 21:00
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x 0
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Any news from sgx and acra on the investigation of the account? | ||||
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Bkng595
Member |
14-May-2019 20:57
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OL and her management team...lol
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enjoylife77
Veteran |
14-May-2019 20:47
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What assets still belongs to Hyflux?
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