If you want a serious answer, this investment is contingent on getting greater equity in Airtel, which in turn is contingent on regulatory approval. In short, these large investors believe they’re making a good investment with the prospect of decent or better returns. They could be wrong, but that’s their assessment.
Temasek invested in Hyflux, made a little money, then exited — all years ago. Now Hyflux is not an attractive investment except perhaps at comparatively low valuations.
A Hyflux investor buying 6% coupon notes (in a ~1.5% government bond environment) was, by definition, taking a huge risk. They were junk bonds, and quite junky at that. That was and is patently obvious when the advertised yield is quadruple the safest available yield at the time. If you didn’t understand you were taking a big risk, you were either naive or delusional. No particular expertise was required: “just look at the yield.” No Ph.D in economics or finance required. And that high risk was realized/actualized, that’s all. Unless fraud was involved (doesn’t look like it), nobody owes the gamblers any chips — and that is what a 6% note is, a visit to the blackjack table. Even if fraud was involved, the gamblers are unlikely to recover much from fraudsters. Grandmothers simply won’t be paying higher water bills to bail out Hyflux gamblers. Singaporeans who all depend on the national sovereign wealth funds to deliver high and sustainable returns (to support well above market CPF yields and new polyclinics, as examples) won’t be bailing out Hyflux gamblers either, except to the extent all Singaporean gamblers have social service and CPF backstops to reduce rates of destitution.
If you think otherwise, then go sit down with half a dozen widows on low fixed incomes and explain to them why they ought to pay higher water bills to pay off your gambling losses.
I’ve lost money on investments in now defunct companies, more than once. I reacted very differently, though, before and after those investments. (They were all tiny, and I was keenly aware they were risky.) Based on your posts, it seems you have a gambling problem. Please, go seek professional help.