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Old 26-07-2019, 09:57 AM   #3631
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Happy ending? ??
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Old 26-07-2019, 11:34 AM   #3632
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Better siam far far away from anything with hyflux connection
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Old 26-07-2019, 12:24 PM   #3633
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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.
So they want to use the cash raised from the IPO to pay the bond holders?
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Old 26-07-2019, 12:36 PM   #3634
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U wait long long man
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Old 26-07-2019, 08:47 PM   #3635
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swee lah... white knight help sinkies bail out sinkies
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Old 31-07-2019, 04:09 PM   #3636
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https://www.channelnewsasia.com/news...-with-11769032

Hyflux applies for another moratorium extension as talks with potential investors continue

Updated: 31 Jul 2019 01:56PM

SINGAPORE: Embattled water treatment firm Hyflux has applied to the Singapore High Court for a further extension of its debt moratorium as discussions for potential investments continue, it said in a filing to the Singapore Exchange on Wednesday (Jul 31).

The applications, filed by Hyflux and three of its subsidiaries, will be heard at the upcoming case management conference scheduled on Aug 2 – the day its court-approved protection from creditors will expire.

Hyflux did not specify how long an extension it is seeking.

The debt-laden firm has been under a court-supervised restructuring process since May 2018.

Founded in 1989, Hyflux made a name for itself with its proprietary membrane technology and was regarded one of Singapore’s most successful business stories, before a heavy reliance on borrowing and a failed venture into power generation hurt its finances.

Over the past year, the home-grown firm has been granted four moratorium extensions, but it will unlikely have it easy for its latest application.

During the previous case management conference in May, it had sought for a four-month extension but was only granted two months by Justice Aedit Abdullah, who said he was “concerned about giving four months (extension) at a go”.

“(An) extension should be much more controlled,” he had said, amid objections from some bank creditors who wanted the company to be kept on a tighter leash.

Hyflux on Wednesday also updated that it continues to be in discussions with potential strategic investors and stakeholders, “with a view to entering into a binding agreement for an investment in the group”.

Among those announced over the past months include a possible S$400 million investment from United Arab Emirates utility firm Utico.

In a joint statement on Jul 11, both companies said they were working towards a binding deal that will see Utico invest S$400 million for an 88 per cent stake in Hyflux. However, some confusion emerged a few days later when Utico announced in a statement valuing the rescue deal at S$535 million. Hyflux said on Jul 17 in a bourse update that it has sought clarification from the potential white knight on that.

Advanced negotiations with global multi-strategy investment fund Oyster Bay Fund over a possible investment of up to S$500 million has also been ongoing. Hyflux also said in June that it has received a non-binding letter of intent from an unnamed China-based suitor.

Hyflux said it will make the appropriate announcements as and when there are any further material developments.
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Old 02-08-2019, 06:18 PM   #3637
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https://www.channelnewsasia.com/news...nsion-11776378

Hyflux has until Aug 16 to sign definitive deal with Utico; secures 2-month moratorium extension
Updated: 02 Aug 2019 06:00PM

SINGAPORE: United Arab Emirates utility firm Utico has given distressed water treatment firm Hyflux two more weeks to consider its S$400 million investment offer and sign a “definitive agreement”.

The deadline is now Aug 16, "failing which, they will walk", WongPartnership lawyer Manoj Sandrasegara, who represents Hyflux, told the Singapore High Court during a case management conference on Friday (Aug 2).

The debt-laden firm, which has been under a court-supervised restructuring for more than a year now, was back in court as it sought another extension of its debt moratorium.

Speaking to reporters after the court hearing, Utico’s chief executive Richard Menezes said the company “reserve(s) the right” to walk away if a deal is not signed within two working weeks.

“But where we are standing now, we are just a millimetre away from signing. It depends on them,” he added.

Utico, which first signalled its interest in Hyflux back in May, announced the details of its S$400 million investment offer last month.

In the joint statement with Hyflux on Jul 11, both parties said they were “progressing” towards a deal that would see Utico take an 88 per cent equity stake in Hyflux for S$300 million as equity and S$100 million as a shareholder loan.

Utico also said it intends to offer the cash equivalent of a 4 per cent stake in the enlarged Utico group, plus additional cash to the holders of Hyflux preference shares and perpetual securities.

On why discussions have taken so long, Mr Menezes cited fees for Hyflux’s professional advisers as among the sticking points.

“The longer it takes, the fees will go up,” he said.

There are also disagreements with Hyflux’s unsecured working group of financial creditors, although he noted that “the deal is agreed, except some language, monitoring and reporting structure”.

Founded in 1989, Hyflux made a name for itself with its proprietary membrane technology and was regarded one of Singapore’s most successful business stories, before a heavy reliance on borrowing and a failed venture into power generation hurt its finances.

The mainboard-listed firm sought court protection to reorganise its business and obligations last May.

Since then, its restructuring journey has been marked by twists and turns, including a rare public protest by retail investors and the sudden abortion of a deal with would-be white knight SM Investments in April.

As it continues its search for a new rescue investor to meet billions in liabilities, Hyflux sought for yet another extension of its debt moratorium on Friday.

It was hoping for a prolonged reprieve from creditors until the end of November, but was granted just two months until Sep 30.

This marks the fifth extension of Hyflux’s debt moratorium, which restricts creditors from taking actions against the company.

In making the decision, Justice Aedit Abdullah said: “I do expect to see more definitive agreements … before the next hearing date. But if neither occurs, I would see that would be difficult for me to extend any further but I will take the arguments at that point.”
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Old 02-08-2019, 07:03 PM   #3638
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Extended. ......
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Old 02-08-2019, 07:48 PM   #3639
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Can just keep extending and extending... Why is there no final deadline?
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Old 02-08-2019, 07:50 PM   #3640
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So they want to use the cash raised from the IPO to pay the bond holders?
And I was just wondering why tf would Unico pay off the bondholders when it has not made a single cent off Hyflux....
Sooooo here's my answer hahahhahaha
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Old 07-08-2019, 08:16 PM   #3641
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The banks can take massive amount of losses and these bank can still survive




Last edited by dreamwork7878; 07-08-2019 at 09:08 PM..
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Old 07-08-2019, 08:17 PM   #3642
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but the banks and organization they have other business and these banks they can come back with huge profits.

but for us retailer once we make loss we are totally wipe out




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Old 07-08-2019, 08:20 PM   #3643
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Look at May bank huge profits.

They are armed with analysts, they have lawyers, they have full armies of professional in their organization and back yard. Arent these people suppose to help open eyes big big ?

but they did not use the analyst but instead they used laws and clauses to their advantages. The analysts in fact can sleep on their job. any issues on the loan they can fall back and make use of the the laws and clauses as guards.

And for retailer, what can we fall back ?
nothing. We get accusation we are greedy. never open eyes big big.

But the banks they are collecting bigger interest from hyflux isn't it ?
And yet they have all the advantages and clause as guard.
isn't this call bullying the retailer.

This unfair practice should be stopped.
Stop robbing and stealing from the retailer.
This should be stop !!!!!!!!!!!!!!

Yet our sgx, mas allow these banks and organization to cheat our money using clauses to their advantages. allow the bank to rob the retailer. allow the listing company to rob the citizen with unfair clauses and laws.
stealing money from the retailer with ease simply by crafting some clauses to the bank and senior advantages . do the banks even need to open their eyes ?


Any problem with the bad loans the banks are the first to get their money back.
senior get back first

look at the banks quarterly earning reports.
Do you see any sign that the bank will die next year ?
look at their huge profits and huge earnings.
can the retailer even make such earnings ?

What are their analyst who works in the bank for ?
no need to open eyes big big. use the legal law clauses will do ?



During good times these bank can make billions and any bad loans this can be covered.

But for us retailer we get 90% hair cut and wipe out.

why is this so unfair ?

SGX, MAS !!! why is this so ? why are you doing this to us ?

why why ?

Look at the banks quarterly earning report.
Look at their earnings

is there sign the banks are dying or the retailer are dying ?








Last edited by dreamwork7878; 07-08-2019 at 09:20 PM..
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Old 07-08-2019, 08:27 PM   #3644
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Look at DBS huge profits.


Look at the billions in profits.
Loss in hflux they can cover back else where.

Yet these banks choose to snatch the pie from the retailers for the bad loan.

We retailer are totally wipe out
Don't you understand.

This sh it product is come out by you


How unfair


Last edited by dreamwork7878; 07-08-2019 at 08:34 PM..
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Old 07-08-2019, 08:40 PM   #3645
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And how can PUB take away Tuaspring Desalination Plant for free without paying a single cents to the retailer.

This is really call robbing us ?

When we have supported PUB all this time



this is seriously unfair
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