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Hyflux 6% Perpetual Securities

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Old 04-04-2019, 03:12 PM   #2836
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Follow MrIPO, switch into 'justice-seeking' mode

https://srsfund.blogspot.com/2019/02...one-wrong.html
Unfortunately Singapore where got serious bond vigilantes? I believe majority of retail investors would rather get back cents to the dollar than seeking justice.
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Old 04-04-2019, 04:53 PM   #2837
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Hyflux initiates termination, Salim expresses surprise and seeking legal advice as they have escrow money at stake.
Sias will chip in and have their say, pub take over on 30apr still on schedule? New parties waiting in the wings?
So intriguing...

Last edited by tmkedmw; 04-04-2019 at 05:01 PM..
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Old 04-04-2019, 05:12 PM   #2838
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So now proceed to liquidation?
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Old 04-04-2019, 05:46 PM   #2839
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Hyflux initiates termination, Salim expresses surprise and seeking legal advice as they have escrow money at stake.
Sias will chip in and have their say, pub take over on 30apr still on schedule? New parties waiting in the wings?
So intriguing...
What surprise?

Hyflux asks for confirmation. Salim does not give.

So terminate, see you in court loh.
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Old 04-04-2019, 05:52 PM   #2840
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Unfortunately the party who initiated the termination will be at the losing end.

What surprise?

Hyflux asks for confirmation. Salim does not give.

So terminate, see you in court loh.
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Old 04-04-2019, 05:57 PM   #2841
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Unfortunately the party who initiated the termination will be at the losing end.
What's there to lose in Hyflux?

queue behind preference share/bonds etc for payment, please.
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Old 04-04-2019, 06:15 PM   #2842
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By terminating, they stand to lose the escrow amount. I wonder why did hyflux made such a stupid move? What benefit does it stand to gain for terminating it? It is not as if they got enough time to wait for another white Knight to appear.

What's there to lose in Hyflux?

queue behind preference share/bonds etc for payment, please.
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Old 04-04-2019, 06:29 PM   #2843
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By terminating, they stand to lose the escrow amount. I wonder why did hyflux made such a stupid move? What benefit does it stand to gain for terminating it? It is not as if they got enough time to wait for another white Knight to appear.
SMI may be able to take back if Hyflux is found not making full disclosures earlier.
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Old 04-04-2019, 06:33 PM   #2844
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I don't think Hyflux made a stupid move to terminate.

They already knew the outcome.
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Old 04-04-2019, 07:05 PM   #2845
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By terminating, they stand to lose the escrow amount. I wonder why did hyflux made such a stupid move? What benefit does it stand to gain for terminating it? It is not as if they got enough time to wait for another white Knight to appear.
it is an escrow account, not Hyflux's to use anyway.

Now the escrow account is locked, wait for court decision for who it belongs to.

Salim now has to fight Hyflux in courts with nothing to win.
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Old 04-04-2019, 07:34 PM   #2846
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So now proceed to liquidation?
should be. and also fight for the escrow account at the same time lor.
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Old 04-04-2019, 07:36 PM   #2847
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No more options for existing holders?

Can try ask Olivia Lum to pay back perpetual holders using her past dividends and salary?
ask those bondholders to get OL to pay them back from her own pocket lor...
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Old 04-04-2019, 07:44 PM   #2848
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SMI may be able to take back if Hyflux is found not making full disclosures earlier.
I'd say

SMI has a case against Hyflux over the Escrow account.
(Hyflux didn't fully disclose material info).

But Hyflux very smart (unscrupulous).
terminate the agreement prematurely and point finger at SMI.
(so now Hyflux has a case that SMI terminate the agreement before 5Apr).
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Old 04-04-2019, 08:58 PM   #2849
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Since when not replying is the same as expressly saying no ?

Could it be they know voting will lose so they stop it to keep deposit ? Is Hyflux able to know the proxy results which close on 2 Apr ?
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Old 04-04-2019, 09:22 PM   #2850
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Since when not replying is the same as expressly saying no ?

Could it be they know voting will lose so they stop it to keep deposit ? Is Hyflux able to know the proxy results which close on 2 Apr ?
If scheme fails on 5apr vote, smi can take back escrow. Cancelling the vote meeting means still got chance to fight in court.
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