- Joined
- Oct 5, 2018
- Messages
- 18,387
- Points
- 113
A month later, it will be the 6-year anniversary of Hyflux's Collapse.
- Outright False Accounting: $3 billion in assets valuation vanished overnight - KMPG, CFO, CEO, Directors not arrested for six years.
- Outright Conflict of Interest: Director Simon Tay brought his own firm, Wong Partnership to initiate the restructuring the company. Hindered prospective foreign white knights by limiting information disclosure. Heliconia Capital sheltered former Hyflux Director and managers.
- Outright Non-Compliance of Listing Rules: Hyflux issued Dividends to ordinary shareholders before paying perpetual bond/preference shareholders
- Outright Misinformation: DBS issued retail bonds to bail out their secondary market accredited Hyflux investors, mislead about nature of business and failure to disclose nature of business and primary risks in prospectus of retail bonds
- Outright Betrayal by The State: Regular PUB confiscated Hyflux's largest asset for free, not to save retail investors. Government raped retail investors to save their own ass, in this PPP venture (Private-Public Partnership)
Where did the “missing” $3 Billion go? Some investigations drag out for years and such mysteries never get solved.
- Outright False Accounting: $3 billion in assets valuation vanished overnight - KMPG, CFO, CEO, Directors not arrested for six years.
- Outright Conflict of Interest: Director Simon Tay brought his own firm, Wong Partnership to initiate the restructuring the company. Hindered prospective foreign white knights by limiting information disclosure. Heliconia Capital sheltered former Hyflux Director and managers.
- Outright Non-Compliance of Listing Rules: Hyflux issued Dividends to ordinary shareholders before paying perpetual bond/preference shareholders
- Outright Misinformation: DBS issued retail bonds to bail out their secondary market accredited Hyflux investors, mislead about nature of business and failure to disclose nature of business and primary risks in prospectus of retail bonds
- Outright Betrayal by The State: Regular PUB confiscated Hyflux's largest asset for free, not to save retail investors. Government raped retail investors to save their own ass, in this PPP venture (Private-Public Partnership)
Where did the “missing” $3 Billion go? Some investigations drag out for years and such mysteries never get solved.
