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HYFLUX NAMED PREFERRED BIDDER FOR SINGAPORE’S SECOND AND LARGEST SEAWATER DESALINATION PLANT BY PUB

http://info.sgx.com/webcoranncatth.nsf/V...penelement [Press Release]

http://info.sgx.com/webcoranncatth.nsf/V...penelement [PPT Slides]

A much needed boost to their order-book going forward.

(Not Vested)
In today's news, about few hundreds millions dollars of deal being settled, the stock went up by more than 5cents today.

I remember when news about the instability of the Africa's contract were published, even the day before, the price plunged by quite alot.
HYFLUX SEALS MEMORANDUM OF UNDERSTANDING WITH MIZUHO CORPORATE BANK

http://info.sgx.com/webcoranncatth.nsf/V...penelement
Hyflux issued trading halt.

Good news on new huge contract clinched?
6% yielding preference shares to be offered to retailers...anyone interested here ?
(13-04-2011, 11:33 AM)Nick Wrote: [ -> ]6% yielding preference shares to be offered to retailers...anyone interested here ?

After clinching large contracts, now it's time to raise money! Tongue Hyflux's projects are all very capital-intensive in the near-term and will only be cash-flow positive once the plants are running, hence I am not surprised by this announcement.

What is surprising, though, is that these CPS are cumulative and also non-dilutive to ordinary shareholders. 6% seems a very high yield to offer on a cumulative basis, and seems to signal that the Company is confident of its future prospects and ability to pay. If the shares are not repurchased before 2018, the yield scales up to 8%.
What does cumulative mean ?
(13-04-2011, 11:59 AM)Nick Wrote: [ -> ]What does cumulative mean ?

Basically it means if the dividend is not paid when it is due, it will then accumulate, so ordinary shareholders will not be paid any dividends until the entire amount payable to CPS holders are paid in full

Anybody knows whether can use CPF OA to buy the preference shares?
(13-04-2011, 12:40 PM)Bibi Wrote: [ -> ]Anybody knows whether can use CPF OA to buy the preference shares?


Quote:Members of the Central Provident Fund (“CPF”) may use up to 35% of their CPF investible
savings to apply for the Public Offer Class A CPS