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Hyflux 6% Perpetual Securities

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Old 03-10-2019, 04:45 PM   #3781
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hyflux owes $2950m. how are they going to pay?
Probably they won't. Can get back a small portion already lucky.
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Old 03-10-2019, 07:13 PM   #3782
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Lol this thread still in first page after so Long
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Old 03-10-2019, 11:20 PM   #3783
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Probably they won't. Can get back a small portion already lucky.
what, u mean hyflux not going to pay the $$ they owe the banks/investors? wtf man.
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Old 04-10-2019, 06:41 AM   #3784
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what, u mean hyflux not going to pay the $$ they owe the banks/investors? wtf man.
There isn't enough money to pay everyone. Why do you think they are taking so long to settle this? They are trying to find the best deal to get out of this situation.
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Old 05-10-2019, 12:28 AM   #3785
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think there will be some horror stories 2 months later.
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Old 31-10-2019, 02:03 PM   #3786
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Does anyone still care?

https://www.channelnewsasia.com/news...-deal-12050228

Less than 48 hours for Hyflux to sign definitive restructuring agreement with Utico
Updated: 31 Oct 2019 12:20PM

SINGAPORE: United Arab Emirates utility firm Utico has given Hyflux until 5pm on Friday (Nov 1) to accept the terms in Utico’s latest draft of a definitive restructuring agreement, the Singapore High Court was told during a case management conference on Thursday.

Failing which, Utico will walk away from the restructuring deal.

WongPartnership lawyer Manoj Sandrasegara, who represents Hyflux, told the court that some of the terms in the agreement are not "commercially acceptable" to Hyflux and its stakeholders.

He elaborated that during a stakeholders meeting convened on Wednesday, stakeholders had said that the latest agreement does not "address their concerns".

For now, embattled water-treatment firm Hyflux will engage Utico to further extend the Friday deadline so that negotiations can be continued, said Mr Manoj.

The original proposed rescue package involves Utico taking an 88 per cent stake in Hyflux through a S$300 million equity injection for senior unsecured creditors, as well as a S$100 million shareholder loan.

Mr Manoj also told the High Court that Hyflux will continue to engage potential investors, adding that one potential investor could come forth with a debt restructuring proposal by the end of this week. He did not reveal details about this potential investor.

CNA understands that Hyflux chief executive Olivia Lum is currently overseas, negotiating with potential investors.

Mr Eddee Ng, senior partner at Tan Kok Quan Partnership, who represents a group of seven unsecured banks, said the group is very concerned about the "slow progress of negotiations" and added that the details of the other potential investors thus far have been "hazy, vague and unclear".

During the case management conference, Justice Aedit Abdullah stressed that Hyflux’s debt moratorium, which is slated to expire on Dec 2, cannot be extended unless there is a "concrete proposal on the table" so that there is "prospect of a plan being put forward".

Hyflux will have its next court hearing on Nov 30, which could be brought forward if required.

Source: CNA/hm
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Old 31-10-2019, 02:17 PM   #3787
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waste time
lawyers earn gao gao
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Old 31-10-2019, 06:01 PM   #3788
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Totally forgot this **** was still ongoing
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Old 01-11-2019, 04:07 PM   #3789
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less than 48h left.
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Old 01-11-2019, 04:50 PM   #3790
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Lapse also like that. No consequences, can just keep request for extension can liao.
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Old 01-11-2019, 05:58 PM   #3791
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what, u mean hyflux not going to pay the $$ they owe the banks/investors? wtf man.
Yeah it's all part of investing. Sometimes you get burnt
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Old 01-11-2019, 07:34 PM   #3792
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hey isnt the 48h deadline over already?
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Old 01-11-2019, 07:34 PM   #3793
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so what happened?
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Old 01-11-2019, 07:40 PM   #3794
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ultimatum is on 2/12/2019.

During the case management conference, Justice Aedit Abdullah stressed that Hyflux’s debt moratorium, which is slated to expire on Dec 2, cannot be extended unless there is a "concrete proposal on the table" so that there is "prospect of a plan being put forward".
Read more at https://www.channelnewsasia.com/news...-deal-12050228

https://www.channelnewsasia.com/news...-deal-12050228
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Old 01-11-2019, 10:26 PM   #3795
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GG, DUMPED BY WHITE KNIGHT AGAIN .
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