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Hyflux 6% Perpetual Securities

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Old 02-04-2019, 02:37 PM   #2806
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Good. Chop chop for PUB to recover the plant.

PUB has no obligation to explain in length to these investors. No business dealing between both parties.

Resistance is fruitless.
When PUB have no Hyflux to chop, eventually will chop us.
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Old 02-04-2019, 02:43 PM   #2807
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When PUB have no Hyflux to chop, eventually will chop us.
PUB chop you with or without Hyflux.

Hyflux is never a factor.
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Old 02-04-2019, 02:44 PM   #2808
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PUB chop you with or without Hyflux.

Hyflux is never a factor.
Ya hor...........
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Old 02-04-2019, 03:14 PM   #2809
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When PUB have no Hyflux to chop, eventually will chop us.
Doesn't make any difference. Chopping started long ago.... before hyflux.
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Old 02-04-2019, 03:40 PM   #2810
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Hyflux's financial woes 'a result of its own commercial decisions', says EMA

Hyflux's financial woes 'a result of its own commercial decisions', says EMA

https://www.straitstimes.com/busines...decisions-says

SINGAPORE - The Energy Market Authority (EMA) of Singapore said on Tuesday (April 2) that Hyflux's present financial situation was the "result of its own commercial decisions".

The gas industry regulator was responding to a reader's letter, "Time for a close look into why Hyflux tanked. This was no typical business failure", published in The Business Times on March 26. In the letter, reader Leong Mun Wai suggested that vesting contracts and policy changes led to lower electricity prices and Hyflux's current situation.

In its letter to BT, EMA said: "Hyflux's present financial situation is a result of its own commercial decisions, with full knowledge of the gas supply situation and electricity generation market."

On the vesting contracts, EMA said that in 2009, it offered the liquefied natural gas (LNG) vesting scheme to generation companies (gencos) as a voluntary option to encourage the uptake of LNG. It said that the gencos opted into the scheme "based on their own commercial considerations".

While EMA offered only up to 1.2 million tonnes per annum (mtpa) of LNG under vesting contracts, the gencos bought more than twice as much LNG. They then made their commercial decisions to build additional generation capacity to consume the LNG that they had bought. This led to the overcapacity situation in the electricity market, which depressed wholesale electricity prices.

The agency added that Hyflux does not have any LNG vesting contracts and had decided to build its power plant after the LNG vesting contracts were awarded to other gencos. Thus, when Hyflux made its decision, it would also have been aware of other gencos' plans to increase their generation capacity, as this was publicly available information published by EMA, it said.

The spokesman added: "EMA will continue to promote economic efficiency and competition, and ensure a level playing field for stakeholders in the electricity market."

In Mr Leong's letter, he had suggested that Hyflux's management was perhaps "blinded by the potential huge profits if electricity prices had stayed at around $200 per MWh, the price level in 2012 when the decision was made". He added that the company committed to a high-priced gas supply contract with no corresponding mechanism to protect itself against the decline of the electricity price.

Mr Leong also said the collapse in electricity price was the "direct result of the vesting contracts given to the other gencos in return for their support to sign long-term take-or-pay gas supply contracts from the LNG terminal, itself another national project".

He added that as a result of the vesting contracts, existing gencos expanded their capacity rapidly. This resulted in a reserved margin of 80 per cent instead of the normal 30 per cent, precipitating the price collapse. The letter also said that EMA "did not render relief to Hyflux at an early stage" to buffer it from the unintended results of the vesting contracts.

On Monday, Minister for the Environment and Water Resources Masagos Zulkifli said the Government cannot use taxpayer money to help retail investors recoup losses from the beleaguered water treatment firm.

Hyflux faces the prospect of selling its biggest asset, its Tuaspring desalination plant, to PUB for zero dollars if it fails to rectify defaults at the plant by April 30. PUB will take over only the desalination plant, and not the gas turbine power plant which sits on the same site.

The Hyflux make-or-break scheme meetings when the firm's restructuring plan will be put to a vote are set for Friday (April 5).
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Old 02-04-2019, 07:04 PM   #2811
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Doesn't make any difference. Chopping started long ago.... before hyflux.
Any data to show?

I looked through the past few years financial statements of PUB.

Before government grants, PUB had been posting losses.
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Old 03-04-2019, 10:33 PM   #2812
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https://theworldnews.net/sg-news/boa...e-remuneration

Director of a Temasek subsidiary also on hyflux board as chairman of it's Renumeration committee
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Old 04-04-2019, 07:27 AM   #2813
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Was there any letter on how to vote? Or giving proxy on how to vote? I didn't think I receive anything on that.
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Old 04-04-2019, 08:29 AM   #2814
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Was there any letter on how to vote? Or giving proxy on how to vote? I didn't think I receive anything on that.
Check on their website

https://www.hyflux.com/financial-reo...heme-meetings/

All the forms and documents there to download. Probably no money to pay for printed documents or not enough time to do so

CHANGE OF MEETING VENUE ON 5 APRIL 2019

Dear Scheme Parties of Hyflux Ltd,

Please note the change of meeting venue on 5 April 2019. Meeting timings remain the same.

New Meeting Venue

The Star Performing Arts Centre
The Star Vista
1 Vista Exchange Green
Singapore 138617

Nearest MRT Station: Buona Vista

Should you require more clarification or information, please contact Hyflux’s support hotline at (+65) 3157 7999 from Monday to Friday, 9am to 5pm (Singapore time)

Thank you.
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Old 04-04-2019, 09:02 AM   #2815
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Ah shxt... Miss the deadline for submitting the proxy vote
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Old 04-04-2019, 09:37 AM   #2816
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Ah shxt... Miss the deadline for submitting the proxy vote
Voting is 7pm this Friday for pnp if u can make it.
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Old 04-04-2019, 09:41 AM   #2817
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Voting is 7pm this Friday for pnp if u can make it.


Probably not. Wonder what's the likely outcome tonight given the recent coverage
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Old 04-04-2019, 09:57 AM   #2818
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do we need to bring the printed form down tomorrow or CDP statement? or we just go show NRIC can already? first time voting
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Old 04-04-2019, 11:12 AM   #2819
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do we need to bring the printed form down tomorrow or CDP statement? or we just go show NRIC can already? first time voting
For AGM, your NRIC would do as they should have your details. No harm bringing your CDP statement but should not be needed. But never know if their computers break down. Lol
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Old 04-04-2019, 11:42 AM   #2820
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For AGM, your NRIC would do as they should have your details. No harm bringing your CDP statement but should not be needed. But never know if their computers break down. Lol
or power blackout bcos tspl never deliver enough electricity. Lol
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