Hyflux New Investor

Meanwhile, Hyflux's shares and capital securities on SGX continue to be suspended from trading until further announcement. When you look at the balance sheets, income statement, it does not give you good account that you should further explore this business. If success has many fathers, failure in financial markets is no orphan either: It almost always ends up in the lap of retail investors. I will be more concerned with the current shareholders. Or Hyflux raised equity or debt to fund itself. The Indonesian consortium did not specify what the new information is, but said that it "significantly increases" the working capital requirements of Hyflux group. New: Announcement Sub Title: Announcement Regarding Hyflux Membrane Manufacturing (S) Pte. post-9002323510692171448 2019-07-16T18:40:00. Utico said the deal, subject to completion of approvals of the creditors, the Singapore Stock Exchange, investors and the court, will lead to giving a new lease of life to Hyflux. 0m, also up nearly 5% QoQ, boosted by EPC revenue from the TuasOne Waste-to-Energy (WTE) project and the Qurayyat Independent Project (QIWP). Hyflux said the possible injection of S$400 million will be used for equity and working capital purposes and possible urgent interim funding. Not having to reissue a new tranche could save Hyflux the issuance expenses. HYFLUX LTD (Company Registration No. Investors must be wondering how on earth did the former A-list company come to such a sorry state. "The new investor isn't a white knight when it only wants the assets but not the debt," said Seow, a home-maker in her 50s who owns Hyflux shares and bonds, and intends to vote against the deal. This shift has the. If we take a simplistic view that SMI (the new investor) is coming in with S$400 million for a 60% stake, that would value the restructured Hyflux at S$666. Hyflux's bankruptcy affected 34,000 investors. Apparently, there has been financial (due to lack of money) and operation defaults going on at Tuaspring de. Hyflux is playing a dangerous game of ring around the rosies with investors, using 1 issue to redeem another issue due for step-up. I don't have a lot of friends I know who invested in the Hyflux Cumulative Perpetual Preferred Shares (CPS) or the Hyflux Perpetual Bond. Hyflux added that SMI has met with Maybank to discuss on possible ways to move forward, and the lender appears to be comfortable with the new investor's plan. The discussions with these investors are taking place concurrently with efforts to. As the name implies, the focus is more on Singapore related matters. But perhaps, the biggest irony out of this corporate fiasco must be that the ones paying the highest price are often those who know the least, and also the last to know. HYFLUX - 14th April 2016 Hyflux is a global leader in sustainable solutions, focusing on the areas of water and energy. A bonus is that Hyflux has a time bomb on this preference share because it has until Apr 2018 to redeem it, if not it will step up to 8%. Hyflux's investor reviewing terms of restructuring plan due to ‘new material information’ The headquarters of Singapore water treatment firm Hyflux on Bendemeer Road. Hyflux on Tuesday published a list of frequently asked questions about its deal for strategic investor, consortium SM Investments, to invest a total of S$530 million. Singapore's national water agency said it might take control of a water treatment plant owned by Hyflux as the company had been unable to fulfill its contractual obligations. Hyflux investors could end up losing 90 percent of their capital in upcoming restructuring. 54, or an implied return rate of 10. Both referring to myself as well as that of Hyflux. Name) Adrian Chui: Designation: CEO & Executive Director: Description (Please provide a detailed description of the event in the box below) Please refer to attached announcement. The only lifeline for Hyflux has ceased. A big portion of the investments were made. Back to our Facebook messenger, after awhile, we decided to release our conversation content. The investor, whose identity was not revealed, has shown interest in acquiring Hyflux. David Gerald, following the United Arab Emirates-based company’s offer to hold a town hall for PNP investors, and reiterated its commitment to work for a win-win resolution as an ethical investor…. 2 million ( 1. Hyflux - Sustainable Solutions That Transform Lives. The fall from grace of one of Singapore's homegrown companies, and the entire restructuring process, has been incredibly informative because it will likely serve as a template for future restructurings in Singapore where retail investors are involved. Will Hyflux be delisted? There are no plans to delist Hyflux Ltd. The divestment is not expected to have a material impact on the Group. com,1999:blog-1116715919006939960. A lot of investors thought they were investing in "water" sector at the desalination plant, but Hyflux was actually betting on the "energy" market when it won the bid for the desalination project at Tuaspring. See: Hyflux races to find new investors as time for moratorium runs out. Hyflux's stumble has spotlighted the plight of about 34,000 retail investors who were lured by the promise of a 6 percent annual return forever from a company that seemed to have a gold seal of. (MHI) Group of Japan are joining together to construct a municipal solid waste. Page 1 of 10 - Hyflux shareholders to stage protest at Hong Lim - posted in Lite & EZ: SINGAPORE - Several Hyflux investors will be staging a protest at the Speakers Corner at Hong Lim Park on Saturday (March 30) to vent their anger over the state of affairs at the troubled water treatment company, The Straits Times has learnt. So suddenly, Hyflux found itself caught in a situation where its power generation cost exceeded its revenue. post-9002323510692171448 2019-07-16T18:40:00. Hyflux called the potential white knight in an. Hyflux investors stage protest at Hong Lim Park on 30 March. But if the deal sounds too good to be true, it likely is. Apr 16, 2019 · Hyflux is currently under a court-supervised restructuring process and its recently called-off rescue by an Indonesian investor has thrown the future of the debt-laden company further into doubt. Welcome to Martin Lee @ Sg, a place where I pen my thoughts on investing, trading, insurance and all other types of financial matters. Since the post 2 years ago, has Hyflux's financial strength improved and do its 6% perps have sufficient margin of safety? Based on Hyflux's latest financial statements, the computation of the earnings coverage and stock value ratio are as follow. Head Of Investor Relations and Corporate Communications, Corporate Marketing at Hyflux Ltd Singapore Utilities 1 person has recommended Dawn. From there, Hylux began exploring the possibility of new investors until finally choosing SMI as a strategic investor who bought a number of shares representing 60 percent worth S$530 million for 60 percent of shares of Hyflux, and provided loans of S$130 million under a shareholder loan agreement. If we take a simplistic view that SMI (the new investor) is coming in with S$400 million for a 60% stake, that would value the restructured Hyflux at S$666. The latest news is that PUB will take over the Tuasspring plant and there could be a new investor. I won't be concerned over the preference shares issue. SINGAPORE: Hyflux on Thursday (Apr 4) cancelled a restructuring agreement with the Salim-Medco consortium SM Investments (SMI), saying it has “no confidence” the Indonesian investor will complete the deal. View 4 Hyflux Ltd jobs at jobsDB, create free email alerts and never miss another career opportunity again. Short of a government bailout, along with regulatory oversights and indifference of political leaders, Hyflux's retail investors are now trapped with no-one on their side. is an investment holding company, which engages in providing water and energy solutions for communities and industries. If you are the Creditor or Investor,. Dividends are not guarantee, though some company might have a guidance on the min amt given. Meanwhile, Hyflux’s shares and capital securities on SGX continue to be suspended from trading until further announcement. Meanwhile, there are 28 surprising and important things we think every Singaporean investor should know—and we’ve laid them all out in The Motley Fool Singapore’s new e-book. Even so, he told Hyflux to focus on assuring its investors and if progress continues to be made, the date may be extended beyond the set date. THE BUSINESS TIMES Hyflux - Find Hyflux News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. Hyflux turned out to be a high risk, low return proposition that burnt many fingers. Desalination Plant Overview. 6 cents on the dollar. Following the collapse of the proposed deal with Indonesian white-knight investor, SM Investments (SMI) earlier this month and the demand of the Public Utilities Board (PUB) to take control of Hyflux's flagship Tuaspring desalination plant,. It certainly looks like it is much better buying the preference shares compared to the common stock. Water treatment firm Hyflux Ltd (SGX: 600) announced on Tuesday that it will be offering S$300 million worth of perpetual securities that will yield their investors a 6. As it continues its search for a new rescue investor to meet billions in liabilities, Hyflux sought for yet another extension of its debt moratorium on Friday. Hyflux Updates – PUB, Salim and Hong Lim Park (30 Mar 2019) - It has been an eventful few weeks for Hyflux. After working for many years, he has built up a nice portfolio mix of blue chips and reits. Source : Bloomberg With just 15 IPO listings in 2018 for just S$710. Hyflux Updates – PUB, Salim and Hong Lim Park (30 Mar 2019) - It has been an eventful few weeks for Hyflux. is an investment holding company, which engages in providing water and energy solutions for communities and industries. In 2010, Hyflux rewarded the shareholders with bonus shares at 1 bonus share for 2 shares held by investors. Our Conversation. Name) Adrian Chui: Designation: CEO & Executive Director: Description (Please provide a detailed description of the event in the box below) Please refer to attached announcement. Its filing also said a group of banks wants the High Court to place Hyflux and its subsidiary Hydrochem under judicial management, or an interim one. On 11 Feb 2019, Investor watchdog asked Hyflux to explain why huge dividends and executive salaries, benefits and bonuses were still paid. Xylem recognized at the annual Global Water Awards, which highlight important achievements in the international water industry. On May 3, Hyflux announced it had received a non-binding letter of intent from new suitor and UAE-based investor Utico FZC for a possible injection of $400 million. I don't think hyflux has it. (less than 1% return for PnP in the above assumption). The investors were unhappy with Hyflux's restructuring plan and PUB's decision to take back the Tuaspring water desalination plant at zero dollars. I don't think there's any protection for investors of hyflux ordinary shares. Hyflux Ltd began in 1989 as Hydrochem (S) Pte Ltd, a trading company selling water treatment systems in Singapore, Malaysia and Indonesia and later, China. Or Hyflux raised equity or debt to fund itself. 000+08:00 2019-07-16T18:40:49. (Bloomberg) --Singapore’s Hyflux, the water and power company battling for survival, said that it is in talks with UAE based utility Utico about securing SGD 400 million ($294 million) of funds, disclosing the identity of the potential investor after receiving a non-binding letter of intent. See: Hyflux races to find new investors as time for moratorium runs out. They could come in as a strategic investor or be the buyer for the Tuas Plant. Hyflux noted: "There can be no assurance that the company will be successful in securing a new investor or in finding a viable alternative to execute the restructuring. , has stunned debtholders, who stand to lose about 90 percent. Back to our Facebook messenger, after awhile, we decided to release our conversation content. A lot of investors thought they were investing in "water" sector at the desalination plant, but Hyflux was actually betting on the "energy" market when it won the bid for the desalination project at Tuaspring. , has stunned 34,000 retail investors who were lured by the promise of a 6 percent annual return forever from a company that seemed to have a gold seal of government approval. The organiser, 43-year-old Alex Leong, told The Straits Times that he received. Packed with information and insights, we believe this book will help you be a better, smarter investor. Investing 5 Investments In Singapore That Caters To Every Investor’s Risk Profile. This booklet served as a reminder about the bet that went wrong - Hyflux. The shares, which had been down 44% for the year, were suspended May 23, affecting more than 50,000. The Investor Protection Bureau is charged with enforcing the New York State securities law, commonly known as the Martin Act. There’s an additional 10. Amid debt issues and deal cancelations, Hyflux said operations at Tuaspring and its power plant are expected to push through as usual. In the recent extension of court moratorium, Hyflux proposed a New Hyflux and Old Hyflux arrangement. 6 mio, 19 companies delisted for a new outflow of S$ 19. New: Announcement Sub Title: Announcement Regarding Hyflux Membrane Manufacturing (S) Pte. Hyflux's Fall. Head Of Investor Relations and Corporate Communications, Corporate Marketing at Hyflux Ltd Singapore Utilities 1 person has recommended Dawn. Maintain HOLD with TP $0. See: Hyflux races to find new investors as time for moratorium runs out. A lot of investors thought they were investing in "water" sector at the desalination plant, but Hyflux was actually betting on the "energy" market when it won the bid for the desalination project at Tuaspring. Singapore, May 26, 2019: Hyflux white knight investor Utico met with Securities and Investors Association Singapore (SIAS) CEO Mr. Number of Investors. Hyflux noted: "There can be no assurance that the company will be successful in securing a new investor or in finding a viable alternative to execute the restructuring. Many investors and financial bloggers had been seduced by the high yields of such bonds and were caught with their pants down when both Swiber and Hyflux defaulted their coupon payments. 18 per share in open market sale at own. I like to believe that this couple isn’t the only one that invested in Hyflux just because Temasek apparently had a stake in the water and power company. Hyflux's financial restructuring revolves around the sale of Tuaspring. SINGAPORE — Hyflux on Thursday (April 4) cancelled a restructuring agreement with the Salim-Medco consortium SM Investments (SMI), saying it has "no confidence" the Indonesian investor will. Embattled water treatment firm Hyflux, which is in the midst of a court-supervised reorganisation, is set to receive a S$530 million investment from a consortium comprising Indonesia's Salim Group. It is not about finding someone who will bail-out the creditors and investors. From my understanding the request by SIAS to avoid any haircut and keep the P&P whole in the books would be accommodated in the new plan. S is a dividend investor. IN June, the Securities Investors Association (Singapore) (SIAS) appealed to stakeholders of troubled water treatment firm Hyflux to give the company the time it needs to try and get its affairs in order ("Saving Hyflux: Stakeholders, patience is vital now", BT, June 18, 2018). Hyflux will remain as a separate listed company with Utico owning 88 per cent. Hyflux chief Olivia Lum 'deeply saddened' by losses suffered by investors, lenders (The Straits Times, 15 Feb 2019) Yes, she should be ! even with all the losses she made and donating the share subsequently , she is still a multi-millionaire and have huge stake in privately own Hyfluxshop , also collecting fat pay till now. In today's Take Stock, I want to share the lessons investors can take away from the company's recent saga. Hyflux’s shares remain suspended on the Singapore Exchange. Hyflux investors stage protest at Hong Lim Park on 30 March. Hyflux's investor reviewing terms of restructuring plan due to ‘new material information’ The headquarters of Singapore water treatment firm Hyflux on Bendemeer Road. We have noted a general absence of coverage of Hyflux Ltd (Hyflux, SGX:600) in the media and decided to break the media silence regarding this well know company. The Municipal segment supplies a range of infrastructure solutions, including water, power, and waste-to-energy to municipalities and governments. This booklet served as a reminder about the bet that went wrong - Hyflux. Hyflux, a Singapore-based, environmental solutions company, aims to provide cost-effective solutions that contribute to resource optimization and sustainable growth for the communities and industries it serves by way of its water recycling and desalinization plants. On May 3, Hyflux announced it had received a non-binding letter of intent from Utico FZC, a Middle Eastern investor, for a possible injection of $400 million. If not, the situation will be bad also. 8 billion ($2. Oyster Bay Fund, a global multi-strategy investment fund, is mulling an investment and has given Hyflux a non-binding letter of intent, the firm said on Friday. Page 9 of 10 - Hyflux shareholders to stage protest at Hong Lim - posted in Lite & EZ: dont blame Temasek hor Temasek and its unit have not had investments in Hyflux since 2006 We refer to the article which mentioned Temaseks investment in Hyflux (Temasek invested, so couple did so too; March 31). is an investment holding company, which engages in providing water and energy solutions for communities and industries. It was one of biggest nightmare for Singaporean Investors. Hyflux is a water treatment firm that is based in Singapore and over the past few years, it has risen to greatness. The Hyflux restructuring plan unveiled For every S$1,000 invested, a holder of Hyflux’s perpetual securities and preference shares will recover S$106. The Indonesian consortium did not specify what the new information is, but said that it "significantly increases" the working capital requirements of Hyflux group. AdvertisementThe organiser, a perpetual securities and preference shareholder who wished to be known only as Alex, said that a group of retail investors like him had been discussing the idea. So PUB had taken over Tuaspring Desalination Plant in May 2019. I will be more concerned with the current shareholders. Perhaps Temasek or GIC might come in and be the white knight as lots of retail investors are affected. SINGAPORE - Troubled water treatment company Hyflux is in talks with a new white knight investor - one that may provide Hyflux with $400 million. 75% and Hyflux coupon rate of 6% should have been a warning sign that these are junk bonds that come with high default risks. Reply Delete. Name) Adrian Chui: Designation: CEO & Executive Director: Description (Please provide a detailed description of the event in the box below) Please refer to attached announcement. 75 Perpetual Capital Securities (ISIN: SG6OE1000007) (The "Capital Securities") Of Hyflux Ltd (The "Company"). I’ve been following the recent Hyflux saga with much interest. Sections of this page. Unfortunately, investors had "brand recognition" when it came to Hyflux. 6 million net of issue expenses. Prefer China Everbright Water (BUY, TP$ 1. Approximately 34,000 retail investors in troubled homegrown water treatment firm Hyflux are at risk of losing up to 90 per cent of their capital in the company's new restructuring plan. See: Hyflux races to find new investors as time for moratorium runs out. Hyflux turned out to be a high risk, low return proposition that burnt many fingers. Hyflux will remain as a separate listed company with Utico owning 88 per cent. I will be more concerned with the current shareholders. Over at our local front, the Hyflux saga has been creating waves as this could be one of the first retail offerings to be on the brink of default. Hyflux's Fall What kickstarted the whole chain of events was Hyflux's announcement on 22 May 2018 that it would enter a court-supervised process to reorganise its liabilities and businesses. channelnewsasia. Xylem Named Water Technology Company of the Year. Local lawyer and Peoples' Voice Party leader Lim Tean says he has agreed to help a group of Hyflux investors seek legal redress. Hyflux subsequently sued SM investments for its repudiation of the rescue deal and for the deposit of S$38. About 400 to 500 of those individual investors gathered in a downtown park known as the Speaker's Corner on Saturday, carrying placards and posters. The company operates through two segments, Municipal and Industrial. In a statement, Utico said that this announcement should also include. Hyflux had asked for a four-month extension on its debt moratorium, saying it was in discussions with other. On May 3, Hyflux announced it had received a non-binding letter of intent from new suitor and UAE-based investor Utico FZC for a possible injection of $400 million. Water treatment firm Hyflux Ltd (SGX: 600) announced on Tuesday that it will be offering S$300 million worth of perpetual securities that will yield their investors a 6. Hyflux noted: "There can be no assurance that the company will be successful in securing a new investor or in finding a viable alternative to execute the restructuring. SINGAPORE - Several Hyflux investors will be staging a protest at the Speakers' Corner on Saturday (March 30) to vent their anger over the state of affairs at the. $10m will go to Old Hyflux, which will be shared by $900m of PnPs, unsecured debts, legal debts, and Old Hyflux management. 2 trillion in 2014 at its peak to less than $17 trillion now. 55 years old is the earliest age at which you can opt to join the CPF Life plan. While the spotlight had been on the Tuaspring Desalination Plant, it is important to note that Hyflux is more than just Tuaspring alone. SINGAPORE -- Hyflux creditors will ask the Singapore High Court to appoint new managers to guide a restructure of the troubled water treatment company. "This 70 year old investor invested his life savings of $250,000 into Hyflux Bonds because his financial advisor told him it was 'very safe' and 'sure to make money'. With the collaboration's termination, Hyflux will have to submit to an execution of a binding agreement if it secures a deal with a new investor. The Martin Act gives the Attorney General broad law-enforcement powers to conduct investigations of suspected fraud in the offer, sale or purchase of securities. This booklet served as a reminder about the bet that went wrong - Hyflux. 5 million) they plonked down in the troubled Singaporean water and power firm’s preference and perpetual shares. It is a must that a fair and quick resolution is found for investors in the preference shares and perpetual bonds. Recently , 1 day ago, investor relations reply. Hyflux posted an announcement on 3 May 2019, finally revealing the name of the mystery new investor, albeit, still a non-binding offer. Hyflux (OTCPK:HYFXY) Enterprise Value Explanation When an investor buy a company, the investor needs to pay not only the common shares, he/she also needs to pay the shareholders of Preferred Stocks. 0% annual “dividend. Deployment to be the CFO / CIO of a new wholly owned subsidiary of Hyflux Ltd, scheduled to be listed at SGX. To attend the free Masterclass by Resh, click on the link below. Hyflux called the potential white knight in an. On Monday, Hyflux. 04% of $500 million for BTWZ) and given the likelihood that the coupon for the new issuance will be higher than 6% pa, there is not much advantages to redeeming N2H. The Investor Protection Bureau is charged with enforcing the New York State securities law, commonly known as the Martin Act. Apr 04, 2019 · Hyflux, which is saddled with S$2. 0m, also up nearly 5% QoQ, boosted by EPC revenue from the TuasOne Waste-to-Energy (WTE) project and the Qurayyat Independent Project (QIWP). Funding Rounds. Retail investor watchdog group, The Securities Investors Association Singapore, has written an open letter the Public Utilities Board questioning its 600 percent. According to Hyflux, it has received a non-binding letter of intent from one such party - a developer and owner of water and power utilities based in the Middle East with a "reputable track record". Over at our local front, the Hyflux saga has been creating waves as this could be one of the first retail offerings to be on the brink of default. Investing The Lesson Of The Hyflux Saga: Here's What Water Utilities And Diversification In Investing Have In Common. " In swiftly delivered response on Thursday, Salim-Medco said: "SMI has been waiting for Hyflux to disclose further material information following multiple requests for such. I guess everyone by now knows that its is a perpetual bond that has a step up in 4 years time. However, it added that "there can be no assurance that the company will be successful in securing a new investor or in finding a viable alternative to. Even investment bloggers who are supposed to be savvy enough to know the risk/reward are caught in Hyflux and lost their money. New: Announcement Sub Title: Announcement Regarding Hyflux Membrane Manufacturing (S) Pte. In fact, there is even going to be a planned protest by retail investors tomorrow at Hong. A little more than a decade later, Hyflux Ltd became the first water treatment company to be listed on the Singapore Stock Exchange in January 2001. Perhaps Temasek or GIC might come in and be the white knight as lots of retail investors are affected. A male investor, who spoke after Tan, argued that investors are not informed of material information in a timely manner, hampering their ability to decide how to vote on the restructuring plan April 5. On March 30, a planned protest against Hyflux’s restructuring plans took place at Hong Lim Park from 3pm to 4pm, consisting of the. In April 2011, Hyflux used a new form of financing through a preference share issue of $400 million, raising $392. The fall from grace of one of Singapore’s homegrown companies, and the entire restructuring process, has been incredibly informative because it will likely serve as a template for future restructurings in Singapore where retail investors are involved. Back to our Facebook messenger, after awhile, we decided to release our conversation content. We also believe that Hyflux would need to pay out around S$49m for its share of the transaction, although this is likely to be in tranches. Debt-laden water treatment firm and genco Hyflux has received yet another non-binding letter of intent from its third potential white knight investor, which has yet to be named. " In swiftly delivered response on Thursday, Salim-Medco said: "SMI has been waiting for Hyflux to disclose further material information following multiple requests for such. Raffles Medical Group First Quarter Financial Results Q1 2019. Create New Account. 7 percent of their original investments. One of the biggest lessons from the painful Hyflux saga is the need for diversification, which is as important to one's well-being as water. com Blogger 249 1 25 tag:blogger. Hyflux's shares remain suspended on the Singapore Exchange. Hyflux operates two of Singapore's three desalination plants that together can meet up to 30% of the country's water needs. Swiber bond’s high coupon rate of 7. EMA: Hyflux’s financial situation ‘a result of its own commercial decisions’ More Related ArticlesSias has written an open letter to PUB about its… by TODAYonline March 26, 2019 Investor watchdog questions PUB after ‘serious concerns’ raised over takeover move for Tuaspring plantTroubled water treatment company Hyflux may have had… by SGSME April 18, 2019 Chances […]. Jul 25, 2018 · Hyflux's market cap stands at $121 million, a steep fall from the 2010 peak of $1. Lead Investor. Updates On Reorganisation Process - Exclusive Dealing With Utico FZC ("Utico") Until 26 August 2019. Recently , 1 day ago, investor relations reply. The new deal is among other plans Hyflux is discussing with potential overseas investors, including those from North Africa, the Persian Gulf and Australia. Perhaps Temasek or GIC might come in and be the white knight as lots of retail investors are affected. Investors. With the revelation of the financial health of last Fiscal Year, potential suitor is now assessing if they should go public to make a hostile offer. Hyflux's investor reviewing terms of restructuring plan due to ‘new material information’ The headquarters of Singapore water treatment firm Hyflux on Bendemeer Road. Page 4 of 10 - Hyflux shareholders to stage protest at Hong Lim - posted in Lite & EZ: why some of the comments are so harsh? its not as though they speculated in some risky stocks (eg S-chips last time) or bet big in Bitcoins this is supposed to be a relatively safer investment no wonder the protection of small retail investors is always so weak you die your business because some of your. Hyflux called the potential white knight in an. White Knight Investor Throws Singapore's Hyflux Rescue Into Doubt Search An Indonesian white knight, whose proposed investment in Hyflux is crucial for the beleaguered water treatment company’s rescue, said on Thursday that conditions for a deal to restructure the firm had not been met, Reuters reported. “SMI recently became aware of new material information on the Hyflux group that significantly increases the working capital. So suddenly, Hyflux found itself caught in a situation where its power generation cost exceeded its revenue. The distressed firm has prioritised discussions with investors that are willing to keep the Hyflux group intact, as opposed to those that prefer to "cherry-pick" parts of its business, Hyflux lawyer Manoj Sandrasegara said at the May 29 hearing. Why does Hyflux willing pay additional fund of $4. I do have fellow bloggers or investing friends that I am acquainted with, that are caught in. I've been following the recent Hyflux saga with much interest. (less than 1% return for PnP in the above assumption). Hyflux posted another strong 174% YoY surge in revenue to S$260. Hope the new style is better. More importantly, let us consider the worst case outcome. Hyflux investors stage protest at Hong Lim Park on 30 March. Water Solutions The Hyflux Advantage. A lot of investors thought they were investing in "water" sector at the desalination plant, but Hyflux was actually betting on the "energy" market when it won the bid for the desalination project at Tuaspring. See more of Hyflux Retail Investor Group on Facebook. Hyflux is a small company in this industry and to win contracts, it has had to undercut it's competitors (much like what all tech startups do) - this was always a recipe for disaster and something I could never understand when investors lined up to invest in Hyflux. Let's see what happens this year. Hyflux called the potential white knight in an exchange filing on Thursday (April 25) "a developer and owner of water and power utilities based. The company operates through two segments, Municipal and Industrial. Amid debt issues and deal cancelations, Hyflux said operations at Tuaspring and its power plant are expected to push through as usual. It is a must that a fair and quick resolution is found for investors in the preference shares and perpetual bonds. ” Mr Khoo posted the photo (below, apparently from a Chinese newspaper) with his post. is an investment holding company. Back to our Facebook messenger, after awhile, we decided to release our conversation content. Hyflux may have been overzealous in its business strategy to derive more stable recurring income by entering into a long term concessionary agreement with an overly optimistic water tariff rates. The catastrophic slump of Singapore's Hyflux Ltd. Hyflux's retail investors are making their unhappiness heard. 3 billion in book value if time is on their side. David Gerald, following the United Arab Emirates-based company’s offer to hold a town hall for PNP investors, and reiterated its commitment to work for a win-win resolution as an ethical investor. The High Court of Singapore agreed April 25 to a 30-day extension of troubled environmental solutions company Hyflux Ltd's debt moratorium. I like to believe that this couple isn’t the only one that invested in Hyflux just because Temasek apparently had a stake in the water and power company. Hyflux saga stinks to the high heaven. 8 billion ($2. Business News - Hyflux yesterday aborted a key investment deal with would-be saviour SM Investments (SMI) and cancelled a critical creditors' vote scheduled today, throwing its future in doubt. Create New Account. ” The company said it will hold meetings with creditors on April 5 and April 8 as scheduled. In a submission to TOC on Sun (31 Mar), a disgruntled Hyflux perpetual capital securities investor had shared what he deemed to be “very important information that was not revealed in the prospectus”, that is the firm’s failure to disclose Tuaspring’s status as “a genco with a minor portio. com Fri, 03 May 2019 23:48:00 +0800 Hyflux late on Friday (May 3) revealed United Arab Emirates utility company Utico FZC as the new white knight that could give it a potential S$400 million lifeline. Investing The Lesson Of The Hyflux Saga: Here's What Water Utilities And Diversification In Investing Have In Common. On May 3, Hyflux announced it had received a non-binding letter of intent from Utico FZC, a Middle Eastern investor, for a possible injection of $400 million. See: Hyflux races to find new investors as time for moratorium runs out. HYFLUX LTD (600) latest news: 2019-08-16 - Utico claimed that Hyflux is delaying the disclosure of assets and ignoring their proposal. Utico, which recently unveiled a S$400 million binding offer White Knight investment to Hyflux, said that this bonafide endeavour of inviting retail investors for a town hall meeting was intended. , has stunned debtholders, who stand to lose about 90 percent. Let’s look at some of KRIS information about Hyflux since 2013. Hyflux & Tuaspring: How a business giant came undone,'A big shock': Retail investors in Singapore caught out by Hyflux woes,'A big shock': Retail investors in Singapore caught out by Hyflux woes,SIAS raises questions about Hyflux CEO's remuneration amid financial troubles,I am deeply saddened for the pain and loss suffered by investors lenders: Hyflux CEO,I am deeply saddened for the. "The new investor isn't a white knight when it only wants the assets but not the debt. See more of Hyflux Retail Investor Group on Facebook. The divestment is not expected to have a material impact on the Group. 8 billion ($2. It certainly looks like it is much better buying the preference shares compared to the common stock. The founder of Singapore-based water and power company Hyflux Ltd, which could see its court. The previous public offer of Hyflux preference shares was back in April 2011. In the answers, Hyflux said it was approached by many potential investors, with 16 signing non-disclosure agreements to conduct due diligence and with discussions held with eight parties. The Accounting for Hyflux's Water Treatment Plants Hyflux develops and operates various types of water treatment plants for municipals and industrial companies in concessions of 20 to 30 years. Hyflux looks like it will be shut down and liquidated, but there is still one winner to this fiasco: Olivia Lum. 3 billion in book value if time is on their side. The equity valuation of the company is set at S$340 million though the total deal value could be S$535 million, higher than an earlier failed deal of S$530 million of. According to Hyflux, it has received a non-binding letter of intent from one such party - a developer and owner of water and power utilities based in the Middle East with a "reputable track record". New Hyflux will be shared by (old)Hyflux and new (majority) investor. Apparently, there has been financial (due to lack of money) and operation defaults going on at Tuaspring de. 5 million) they plonked down in the troubled Singaporean water and power firm’s preference and perpetual shares. READ: Beyond scarcity and security, does Singapore need a new water narrative? A commentary A Hyflux retail investor speaking to the crowd at Hong Lim Park on Saturday (Mar 30). Water Solutions The Hyflux Advantage. On Monday, Hyflux. Desalination Plant Overview. Announcing this in a Facebook post on Tuesday (30 Apr), Lim said: "Over the past several weeks, many Hyflux retail investors have met with me to seek my advice on how. Hyflux wasn't in a good position. 90 per share, it was a growth company. Meanwhile, Hyflux's shares and capital securities on SGX continue to be suspended from trading until further announcement. Analyst View. Jul 25, 2018 · Hyflux's market cap stands at $121 million, a steep fall from the 2010 peak of $1. Utico said the deal, subject to completion of approvals of the creditors, the Singapore Stock Exchange, investors and the court, will lead to giving a new lease of life to Hyflux. As the name implies, the focus is more on Singapore related matters. THE BUSINESS TIMES Hyflux - Find Hyflux News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. In the process, we have shown our commitment to safeguarding families, serving communities and strengthening society as a whole. Hyflux investors can forget about getting a cent, the bondholders, who are also badly burnt, will swallow up every bit. Its filing also said a group of banks wants the High Court to place Hyflux and its subsidiary Hydrochem under judicial management, or an interim one. Hyflux Ltd began in 1989 as Hydrochem (S) Pte Ltd, a trading company selling water treatment systems in Singapore, Malaysia and Indonesia and later, China. I was skeptical on this Hyflux preference shares as I was wrongly comparing European sovereign bonds with it… Spain 10 years bond is now yielding 6. 16)What other Water Companies did that Hyflux didn't - Question 16 17)Why a debt to equity option for retail investors is not right 18) Consolidated Questions For Hyflux Townhall Meeting on 19 and 20 July 2018 - Hyflux 19)Consolidated Questions For Hyflux Townhall Meeting on 19 and 20 July 2018 - Hyflux- continued. 2 bio, Singapore has fallen behind the Vietnam and Thai exchanges as former SGX companies successfully relist themselves in Hong Kong for 8 times their former value. I guess everyone by now knows that its is a perpetual bond that has a step up in 4 years time. We have noted a general absence of coverage of Hyflux Ltd (Hyflux, SGX:600) in the media and decided to break the media silence regarding this well know company.