https://www.todayonline.com/singapore/hy...fBHsEBJOdk
"Hyflux and its directors under probe for suspected breaches of disclosure requirements, non-compliance with accounting standards
Read more at
https://www.todayonline.com/singapore/hy...fBHsEBJOdk"
“The investigation will ascertain whether there were lapses in Hyflux’s disclosures concerning the Tuaspring Integrated Water and Power Project as well as non-compliance with accounting standards between 2011 and 2018,” the statement said.
2011-2018.....
gg liao.... CAD/MAS/ACRA .... :O
Maybe it's through this avenue then Olivia lum would have personality and criminal liability to cough out cash from her half a billion networth to repay opmi?
2 June 2020 Hyflux 2 annoucements on the same day:
Good news - Aqua Munda willing to inject $10m into Hyflux
(click for AM's letter)
Bad news - as valuebuddies already read from news, CAD investigation
(click for sgx announcement)
Stay home and stay safe, valuebuddies.
Hyflux continues to attract an array of suitors. It has demonstrated itself to have the relevant expertise that is attractive at the right price.
Receipt of a Letter of Interest from Mr. Johnny Widjaja who has 200mil ready to go:
https://links.sgx.com/FileOpen/Announcem...eID=623300
A client of ours is very interested in exploring the possibility of investing in the Hyflux Group. Our client has plans to carry out seawater desalination projects in Shandong and Tianjin in China and sees great synergies with Hyflux. We also wish to state that we would not consider making this investment if Ms Olivia Lum and her current Management and Board of Hyflux Ltd are removed, or if the Hyflux Group is placed into judicial management or liquidation
https://links.sgx.com/FileOpen/20200709%...eID=623307
Hyflux has lost its main asset to PUB. And it has had no new contracts coming since then.
What residual value in the company that attracts so many white knights knocking at its door?
Could it be a delay tactic to extend the debt moratorium?
24 July 2020 Binding Offer Utico for Hyflux
https://links.sgx.com/1.0.0/corporate-an...f6a2a59024
1. Previously Utico trying to convinced Hyflux that their RA is still effective
2. Hyflux felt otherwise
3. With today binding offer, it's clear that Utico knows it's stands
4. This binding offer will lapse on 31 July 2020 - which is a joke. How could it be possible for Hyflux to agrees to this deal so quickly?
5. However, if Hyflux did response to this binding offer, then something is going to happen very fast
Wear mask and keep your social distance, everyone.
26 July 2020 Spectrum Group for Hyflux
https://links.sgx.com/FileOpen/Announcem...eID=625029
Hyflux Ltd. (the “Company”) wishes to announce that it has received a letter (“Letter”) from The Spectrum Solutions Group (“TSSG”), expressing desire to engage with the Company to explore the possibility of investing in the Company, on behalf of a client, a North Americabased fund manager (the “Fund”), which has given to TSSG the mandate to so.
Wear mask and keep your social distance, everyone
(13-07-2020, 12:08 PM)Shiyi Wrote: [ -> ]Hyflux has lost its main asset to PUB. And it has had no new contracts coming since then.
What residual value in the company that attracts so many white knights knocking at its door?
Could it be a delay tactic to extend the debt moratorium?
From a balance sheet perspective, we understand TuasSpring to be a liability more than an asset. The last time VBs calculated this here, it was incurring consistent negative FCF - It was selling water to PUB at a loss and its power generation wasn't patching the loss (as it was supposed to). Accountants can put any number on an "asset" but it is up to the investor to judge their own.
From the previous breakup with
Pak Salim's SM investments to the current shaky relationship with their 2nd white Knight Utico, and the mushrooming of new suitors, it is becoming clear that Hyflux indeed has an asset, ie. its intangible brand, management know-how and business relationships. Of course, these are not evident on its balance sheet. Unfortunately, these were not enough to save Hyflux then but it may help to recover some money for existing investors (although for most investors, they will still only get back pennies for a dollar)
As for whether it is any delay tactic, it is hard to imagine that one has the clout to attract multiple parties to try to stage delay tactics unless there are genuine proposals in the first place.