HWZ Forums

Login Register FAQ Mark Forums Read

Hyflux 6% Perpetual Securities

Like Tree300Likes
Reply
 
LinkBack Thread Tools
Old 15-07-2019, 09:28 AM   #3616
Supremacy Member
 
Join Date: Jan 2007
Posts: 7,188
Previously, Utico chief executive Richard Menezes said in late May that as part of the overall deal, small investors of up to $2,000 to $3,000 could get 50 per cent cash redemption along with full redemption opportunity while the rest of Hyflux's investors could get a similar but staggered and cascade deal.
I don't get it
Why would Utico pay these bond n shareholders when Utico did not even get to use any of their investment money??
trailblaze is offline   Reply With Quote
Old 15-07-2019, 09:39 AM   #3617
Senior Member
 
Guojing88's Avatar
 
Join Date: Feb 2004
Posts: 1,323
I don't get it
Why would Utico pay these bond n shareholders when Utico did not even get to use any of their investment money??
So that they will vote yes to the deal
Guojing88 is offline   Reply With Quote
Old 16-07-2019, 02:09 PM   #3618
Senior Member
 
kehyi4's Avatar
 
Join Date: Aug 2010
Posts: 1,307
https://www.channelnewsasia.com/news...stake-11723780

Utico to buy 88% stake in Hyflux for S$535 million
Updated: 16 Jul 2019 01:18PM

SINGAPORE: United Arab Emirates (UAE) utility firm Utico is buying an 88 per cent stake in Singapore-based water treatment company Hyflux, the companies said in a joint statement on Tuesday (Jul 16).

Utico said the deal is subject to various regulatory approvals, as well as approval from creditors, the Singapore Stock Exchange, investors and the court. Hyflux will remain as a separate-listed company, the statement added.

According to Utico, the equity valuation of the company is set at S$340 million though the total deal value could be S$535 million, higher than an earlier failed deal of S$530 million of SM Investments.

“The aim is to save time and move expeditiously as both Utico and Hyflux, investors and creditors are aware of the fact that time is of essence in preserving the value of the Singaporean company and arrest further slide,” said Mr Richard Menezes, managing director of Utico.

Utico also intends to offer the cash equivalent of a 4 per cent stake in the enlarged Utico group plus additional cash payouts.

This, according to Mr Menezes, could give Hyflux’s perpetual securities and preference (PNP) shareholders “50 per cent of their first S$2,000 to S$3,000 as well as a cascade and staggered deal to the rest, thus offering them options to exit and hope for full redemption”.

In its statement, Utico cited Mr Menezes as saying that the aim for both parties is “to enter into a definitive agreement on the proposed investment with the approval of senior creditors at the earliest and hold a town hall for both PNP and medium term note holders” before the next court hearing on Aug 2.

Last Thursday, the companies said that they had held "informal discussions" after the Jun 27 deadline and were heading towards a deal, subject to approvals from all stakeholders and definitive documents being finalised and signed.

Hyflux, whose year-long restructuring journey remains closely watched by tens of thousands of retail investors, said last month that it had held talks with seven suitors since it fell out with former white knight SM Investments in April.

It previously named global multi-strategy investment fund Oyster Bay Fund and an unnamed desalination firm among its suitors.
kehyi4 is offline   Reply With Quote
Old 16-07-2019, 05:14 PM   #3619
Senior Member
 
Join Date: Jul 2010
Posts: 1,082
What's in it for Ultico in investing in Hyflux?
weng0202 is online now   Reply With Quote
Old 16-07-2019, 08:21 PM   #3620
Honorary Member
 
mrclubbie's Avatar
 
Join Date: Oct 2008
Posts: 137,969
https://sbr.com.sg/energy-offshore/n...n-hedging-deal
__________________
Hitori
Hitokoto
Hitorigoto
mrclubbie is online now   Reply With Quote
Old 22-07-2019, 10:44 PM   #3621
Arch-Supremacy Member
 
dreamwork7878's Avatar
 
Join Date: Nov 2011
Posts: 24,012
You choose to not only ignore the writer but went further to belittle the writer...So you can't claim to be not aware of the red flags raised on Hyflux as you choose to ignore it...
SGX and MAS ignored it.

what about people with little finance knowledge ?
dreamwork7878 is offline   Reply With Quote
Old 22-07-2019, 10:53 PM   #3622
Senior Member
 
FrostWurm's Avatar
 
Join Date: Feb 2009
Posts: 1,858
SGX and MAS ignored it.

what about people with little finance knowledge ?
stay out of the game
Hot_Dog likes this.
FrostWurm is offline   Reply With Quote
Old 23-07-2019, 05:20 AM   #3623
High Supremacy Member
 
ahboy82's Avatar
 
Join Date: May 2008
Posts: 42,810
U r just greedy

Now u hav to suffer the consequences

Theres no free lunch

Enuff said

SGX and MAS ignored it.

what about people with little finance knowledge ?
ahboy82 is offline   Reply With Quote
Old 23-07-2019, 05:43 AM   #3624
Master Member
 
Join Date: Nov 2002
Posts: 2,733
What you expect them to do? Monitor financial bloggers and take actions according to online post? As long as Hyflux is still solvent and abide by all listing rules, SGX can't do s.hit to them... and what has got MAS to do here? They have better things to do.... every damm single listed company they also need to monitor and manage, sibei bo eng to manage steering the nation's economy leh...

SGX and MAS ignored it.

what about people with little finance knowledge ?
Hot_Dog likes this.
madtari is offline   Reply With Quote
Old 23-07-2019, 06:45 AM   #3625
Senior Member
 
Join Date: Jul 2010
Posts: 1,082
SGX and MAS ignored it.

what about people with little finance knowledge ?
You seem to be blaming the whole world. But do you blame yourself for investing in this bond in the first place?
weng0202 is online now   Reply With Quote
Old 23-07-2019, 06:21 PM   #3626
High Supremacy Member
 
ahboy82's Avatar
 
Join Date: May 2008
Posts: 42,810
He thot he struck gold at 6% returns wat

You seem to be blaming the whole world. But do you blame yourself for investing in this bond in the first place?
ahboy82 is offline   Reply With Quote
Old 24-07-2019, 12:36 AM   #3627
Senior Member
 
sleepwell2nite's Avatar
 
Join Date: Apr 2019
Posts: 627
106% become 112% now ?
sleepwell2nite is offline   Reply With Quote
Old 24-07-2019, 06:34 AM   #3628
Senior Member
 
Join Date: Jan 2003
Posts: 611
It is like a pri sch kid who failed an exam, blaming the teacher for not teaching correctly. Poly/uni student wun do that.
wutawa is offline   Reply With Quote
Old 24-07-2019, 06:39 AM   #3629
Senior Member
 
Join Date: Jul 2010
Posts: 1,082
I think dreamwork7878 should let go of this matter and move on. Dwelling on it will not solve any problems, get on with life with what you have and rebuild from here. This Hyflux thing should drag on for some time.
weng0202 is online now   Reply With Quote
Old 26-07-2019, 09:55 AM   #3630
Senior Member
 
kehyi4's Avatar
 
Join Date: Aug 2010
Posts: 1,307
https://www.straitstimes.com/busines...t-in-singapore

Would-be Hyflux white knight Utico plans to list in Singapore

The Middle Eastern utility company that is lining up a rescue deal to save embattled water treatment firm Hyflux is planning to list here.

Utico hopes to raise $300 million to $500 million in an initial public offering, chief executive Richard Menezes told The Straits Times via e-mail yesterday. He added that the United Arab Emirates-based company is looking to invest in water, renewables and high-tech sectors here, without going into specifics.

Utico has made headlines as one of Hyflux's potential white knights with plans to acquire an 88 per cent stake in the firm, according to media reports. Hyflux and Utico told the Singapore Exchange earlier this month that they were progressing towards a $400 million binding deal. The amount includes an investment of $300 million as equity and a $100 million shareholder loan.

Mr Menezes had previously said the investment would place both Hyflux and Utico in a stronger position with their joint capabilities.

Home-grown Hyflux fell on hard times when it overestimated the ability of its integrated water and power plant, Tuaspring, to turn a profit.

Tuaspring, the first water plant in Asia to be integrated with power generation capabilities, cost Hyflux $1.05 billion in all. But it has been a drag on earnings since it began operations in March 2016. National water agency PUB has since taken over the desalination plant.

Hyflux's troubles centre on its expansion into the energy business through Tuaspring, where profits from the power plant were to have been used to subsidise the desalination facility's operational costs. But electricity prices plunged and, coupled with operating losses from the desalination plant, caused Hyflux to sink into debt.
kehyi4 is offline   Reply With Quote
Reply
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On