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one-time highflux is now lowflux - may go belowflux
- Thread starter eatshitndie
- Start date
Don't forget the virtual peanuts conversion rate to Sing Dollars is 1 peanut = S$600,000. The common shareholders most likely will get mustard seeds 100,000 mustard seeds = S$1
like i said, they are where they are because of bad management..
There is a lot of growth potential with clean water and power companies.
either the govt or some big MNC will come in and bail it out..
my call to BUY when suspension is lifted...
There is a lot of growth potential with clean water and power companies.
either the govt or some big MNC will come in and bail it out..
my call to BUY when suspension is lifted...
I am very happy to read these news and that mean many highly-paid managers are going to lose their jobs soon 
Instead of sharing their wealth, jiuhukia, keep demanding and demanding for more. 30% cina in Msia. Quite alot. Its no secret Cina are much much more well off than the Mats.
This looks like one rich and fat m&d. Will he share his wealth?
Is that Optimus Prime?
From Proton?
Law amendment to block investors from filing for forced liquidation or to seize pledged assets,this country really know how to screw investors and citizens deep deep for the sake of businesses.....investing in this country is like asking for it.
This looks like one rich and fat m&d. Will he share his wealth?
Yes. He shared with his rakyat last month. I was tere too.
https://www.straitstimes.com/asia/s...ds-over-rm1-million-to-treat-grocery-shoppers
Cant be. DAP always stress on transparency and fair business to attract investors. How can DAP take back their words?
Or they just wayang to get votes.
likely "Change of Control" coming, they are not interested in such big project. I think they are unwinding and contended to just operate existing projects.
HYFLUX EXITS DESALINATION PROJECT IN SAUDI ARABIA
http://infopub.sgx.com/FileOpen/HL News Release 23 May 2018.ashx?App=Announcement&FileID=507138
HYFLUX EXITS DESALINATION PROJECT IN SAUDI ARABIA
http://infopub.sgx.com/FileOpen/HL News Release 23 May 2018.ashx?App=Announcement&FileID=507138
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Yes, 25000-35000 investors affected on paper (annual report)
Assume 1 family got 3 pax, up to 90-100K Singaporeans affected.
If we add CPF accounts investors in CPF nominee accounts, the number is staggering.
Dear all,
IN the last three decades, Hyflux has grown from a small start-up to a global leader in water infrastructure solutions. Venturing beyond Singapore, we have built landmark projects to deliver clean drinking water to people in China, the Middle East and Africa.
This would not have been possible without the strong support of our stakeholders. I sincerely thank all shareholders, clients, partners, suppliers and employees for their belief in us and the valuable roles each of you have played in the Hyflux growth story.
One of our landmark projects is Tuaspring, the first Integrated Water and Power Project in Asia, which is an important track record to boost the group's solution offering to its municipal clients. This innovative project which contributes significantly to our nation's water security, has, in recent years, not escaped the impact of depressed electricity prices in Singapore. As a result, 2017 marked the first full year of losses in our operating history. Although improvements in wholesale electricity prices have reduced losses in the last few months, a sharper rebound in prices is necessary to restore the group to its previous levels of profitability.
Operating in a capital-intensive industry, we have always adopted an asset-light strategy where we divest our completed projects to recycle capital into new investments. These successful divestments have funded our growth through the years. However, our recent plans to divest the Tuaspring project in Singapore and the Tianjin Dagang plant in China have taken longer given the prevailing market and this has added stress to the business.
SEE ALSO: Hyflux suspends trading of shares and perps
In view of the challenging environment, our options are to either maintain the status quo and hope to ride out the storm, or to step back and assess holistically how to reorganise our liabilities. This will not only protect our viable core businesses but position us for long-term sustainable growth.
We have therefore decided to be proactive, and have appointed Ernst & Young Solutions LLP as our financial advisers and WongPartnership LLP as our legal advisers. Based on their advice, we have commenced a court-supervised liabilities reorganisation exercise for certain entities within the group. The main objective of this exercise is to provide much-needed space and time for the group to focus on its ongoing discussions with strategic investors, optimise operations, target areas for growth and complete our projects to keep generating steady cash flow. Through this exercise, we believe that we will emerge stronger and be poised for sustainable growth in the years to come.
On the ground, it will continue to be business as usual.
We remain committed to our clients and key stakeholders, whom we will engage and work closely with throughout this reorganisation so as to achieve the best possible outcome in these challenging circumstances.
In the meantime, we have voluntarily suspended trading of our shares and related securities, in the interest of all stakeholder groups.
In line with our commitment to uphold corporate transparency, we are committed to maintaining open channels of communication with our stakeholders as we move through this process together. Should you need further information, please call our support centre at +65 3157 7999or visit our corporate website www.hyflux.com.
Olivia Lum
Executive chairman and group
chief executive officer
IN the last three decades, Hyflux has grown from a small start-up to a global leader in water infrastructure solutions. Venturing beyond Singapore, we have built landmark projects to deliver clean drinking water to people in China, the Middle East and Africa.
This would not have been possible without the strong support of our stakeholders. I sincerely thank all shareholders, clients, partners, suppliers and employees for their belief in us and the valuable roles each of you have played in the Hyflux growth story.
One of our landmark projects is Tuaspring, the first Integrated Water and Power Project in Asia, which is an important track record to boost the group's solution offering to its municipal clients. This innovative project which contributes significantly to our nation's water security, has, in recent years, not escaped the impact of depressed electricity prices in Singapore. As a result, 2017 marked the first full year of losses in our operating history. Although improvements in wholesale electricity prices have reduced losses in the last few months, a sharper rebound in prices is necessary to restore the group to its previous levels of profitability.
Operating in a capital-intensive industry, we have always adopted an asset-light strategy where we divest our completed projects to recycle capital into new investments. These successful divestments have funded our growth through the years. However, our recent plans to divest the Tuaspring project in Singapore and the Tianjin Dagang plant in China have taken longer given the prevailing market and this has added stress to the business.
SEE ALSO: Hyflux suspends trading of shares and perps
In view of the challenging environment, our options are to either maintain the status quo and hope to ride out the storm, or to step back and assess holistically how to reorganise our liabilities. This will not only protect our viable core businesses but position us for long-term sustainable growth.
We have therefore decided to be proactive, and have appointed Ernst & Young Solutions LLP as our financial advisers and WongPartnership LLP as our legal advisers. Based on their advice, we have commenced a court-supervised liabilities reorganisation exercise for certain entities within the group. The main objective of this exercise is to provide much-needed space and time for the group to focus on its ongoing discussions with strategic investors, optimise operations, target areas for growth and complete our projects to keep generating steady cash flow. Through this exercise, we believe that we will emerge stronger and be poised for sustainable growth in the years to come.
On the ground, it will continue to be business as usual.
We remain committed to our clients and key stakeholders, whom we will engage and work closely with throughout this reorganisation so as to achieve the best possible outcome in these challenging circumstances.
In the meantime, we have voluntarily suspended trading of our shares and related securities, in the interest of all stakeholder groups.
In line with our commitment to uphold corporate transparency, we are committed to maintaining open channels of communication with our stakeholders as we move through this process together. Should you need further information, please call our support centre at +65 3157 7999or visit our corporate website www.hyflux.com.
Olivia Lum
Executive chairman and group
chief executive officer
seriously, anyone called? Will we get our money back?
Hahaha.... the letter is saying thanks for your monies. But now we really no money and have armed ourselves with accountants and lawyers to protect us from you bunch of sharks. But if you want to get the satisfaction of calling someone to vent your anger, feel free to scold the receptionist!
I dun even waste my hp free outgoing call to call.
Well. Not sure how much I can get back from my preference shares lo
I trusted the PAP and invested in Hyflux ...90 percent wiped out. Thank you, PAP.
Why does sinkee company always falter. No world class company. Even SIA is crumbling. What does this tell us about the sinkapore culture or mindset?
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