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Hyflux 6% Perpetual Securities

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Old 26-02-2019, 10:13 AM   #2191
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for a $100k investment one can only get back $3k in cash, this is really derisory
Did you calculate with your mind or heart?

This means for every S$1,000 invested, a perpetual security and preference shareholder will only get back about S$107 in cash and equity, if the restructuring plan is passed Ė a steep haircut that some have lamented as "too much to swallow" and would rather see Hyflux be liquidated.
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Old 26-02-2019, 10:34 AM   #2192
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I remember people recommending Aspial sometime back, I wonder how they are doing?
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Old 26-02-2019, 10:39 AM   #2193
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Did you calculate with your mind or heart?
For now i am inclined to vote no. Will see how things develop. Anyway 3% cash 7% equity really nothing much to calculate.

Something is wrong if i vote yes and let mgmt continue drawing fat salaries. 3k i can forgo, i lost 3k but i uphold my ethics and dignity lol
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Old 26-02-2019, 11:04 AM   #2194
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They should be praying hard their bond can be redeemed when it's due.

I remember people recommending Aspial sometime back, I wonder how they are doing?
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Old 26-02-2019, 11:29 AM   #2195
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Hindsight is 20/20. All the investors were betting that oil prices will stay high.
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Old 26-02-2019, 11:39 AM   #2196
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Sad to see so many retirees losing their nest eggs, hope it'll be a good lesson for everyone else. Exposure to risks can be controlled.
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Old 26-02-2019, 12:00 PM   #2197
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For now i am inclined to vote no. Will see how things develop. Anyway 3% cash 7% equity really nothing much to calculate.

Something is wrong if i vote yes and let mgmt continue drawing fat salaries. 3k i can forgo, i lost 3k but i uphold my ethics and dignity lol
Recall in may2018, it went from CD to XD and after XD, hyflux withheld paying 3% for perps. In a way, the current 3% cash offer is iou, and hyflux is actually offering 0 cash in this scheme of arrangement.
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Old 26-02-2019, 12:21 PM   #2198
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For now i am inclined to vote no. Will see how things develop. Anyway 3% cash 7% equity really nothing much to calculate.

Something is wrong if i vote yes and let mgmt continue drawing fat salaries. 3k i can forgo, i lost 3k but i uphold my ethics and dignity lol
If they give u 30k then u donít care about your ethics and dignity?
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Old 26-02-2019, 12:56 PM   #2199
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i must have failed my business module. hw come equity still got value when perps has devalued so much. i tot bond safer than equity
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Old 26-02-2019, 12:56 PM   #2200
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Criminal charges only for illegal things. For Hyflux, it's just incompetence. And no punishment got that.
there is such a thing call criminal negligence,
not sure if hyflux's management was guilty but it can't be far even if they are not
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Old 26-02-2019, 01:01 PM   #2201
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Recall in may2018, it went from CD to XD and after XD, hyflux withheld paying 3% for perps. In a way, the current 3% cash offer is iou, and hyflux is actually offering 0 cash in this scheme of arrangement.
correct. But i am glad they did not redeem the unsecured MTN due in 2018, otherwise perps will really have nothing left, not even crumbs

If they give u 30k then u don’t care about your ethics and dignity?
for me maximizing recovery is first priority, so dignity takes a backseat. If no choice but to write down then ethics take driver seat. But for sure i will vote no if i can only recover 3k cash, i rather donate it away
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Old 26-02-2019, 02:23 PM   #2202
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i must have failed my business module. hw come equity still got value when perps has devalued so much. i tot bond safer than equity
The senior unsecured creditor also can ask this question, how come perps got value when they have to take haircut, I thought pay finish senior debt then can pay subordinated debt...
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Old 26-02-2019, 02:46 PM   #2203
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The senior unsecured creditor also can ask this question, how come perps got value when they have to take haircut, I thought pay finish senior debt then can pay subordinated debt...
then maybank also can raise same question, why they need haircut when they have TS as collateral, they are supposed to be first in line. Thats why getting approval of scheme wont be easy
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Old 26-02-2019, 06:44 PM   #2204
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Stocks and bonds can go to zero but not Forex. Unless the currency is from Zimbabwe or Japan WWII banana note.
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Old 26-02-2019, 06:58 PM   #2205
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Stocks and bonds can go to zero but not Forex. Unless the currency is from Zimbabwe or Japan WWII banana note.
But Forex is leverage beast. Event such as Swiss unpegged EUROS can be crazy shiat too.
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