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Hyflux 6% Perpetual Securities

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Old 01-11-2019, 11:01 PM   #3796
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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
I think can extend one, already extend so many times. Haha
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Old 02-11-2019, 12:32 PM   #3797
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less than 48h left.
Time up now, right?
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Old 02-11-2019, 04:11 PM   #3798
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GG, DUMPED BY WHITE KNIGHT AGAIN .
if hyflux is being dumped by utico, how are they going to continue their business.
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Old 02-11-2019, 04:12 PM   #3799
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I think can extend one, already extend so many times. Haha
dont extend the deadline anymore, hyflux extend how many times already?
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Old 02-11-2019, 04:12 PM   #3800
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Time up now, right?
yes, time for hyflux to showhand.
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Old 03-11-2019, 07:13 PM   #3801
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Just got a feeling that with no news after the friday 5pm dateline, the deal probably collapsed.
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Old 04-11-2019, 10:24 AM   #3802
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What is wrong to get more extensions?
This Utico was obviously pressuring to close a good deal.
The court also sympathises as many shareholders are retail.

And you are 兴灾乐祸.

dont extend the deadline anymore, hyflux extend how many times already?

Last edited by Merg91; 04-11-2019 at 12:59 PM..
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Old 04-11-2019, 10:57 AM   #3803
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What is wrong to get the extension?
This Utico was obviously pressuring to close a good deal.
The court also sympathises as many shareholders are retail.

Only some like you are 兴灾乐祸.
The Judge is also quite fed up with Hyflux management as each time they get an extension, they didn't close any of the prior deals in place. Remember they killed the Salim deal which from the outside would have looked like a much better deal.

The past couple of months was just fighting over the issue of the Nicky Tan's fees which they finally agree to cap at $40 million. Probably he was asking for a lot more than that.

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

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".
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Old 04-11-2019, 12:11 PM   #3804
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What is wrong to get the extension?
This Utico was obviously pressuring to close a good deal.
The court also sympathises as many shareholders are retail.

Only some like you are 兴灾乐祸.
While they may be trying to get the best deal, your money is also stuck there and they are still burning money to keep everything going. Best is to take the best deal and move on.

BTW, I'm also one of their investor and I have already prepared myself to getting nothing back.
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Old 04-11-2019, 01:00 PM   #3805
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they are still burning money to keep everything going.
this is a very good statement. with the current situation, i am quite sure that hyflux cannot generate any more income.

the people that are dragging the case continues to draw salary. the building continues to incur rental and cost.

the longer this thing drags, the less hyflux will be worth when it liquidates.

if the investor is going to get nothing from liquidation, he would rather that it goes down quickly such that the people the caused the ship to sink will not get more benefits from it.
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Old 04-11-2019, 06:58 PM   #3806
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OLIVIA HUAT AH !
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Old 20-11-2019, 06:16 PM   #3807
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Does anyone still care?

CNA: SIAS says it is concerned about ‘lack of finality on Utico’s offer’ for Hyflux
Updated: 20 Nov 2019 04:00PM

SINGAPORE: The Securities Investors Association Singapore (SIAS) has said it is “seriously concerned” about the “lack of finality” on Utico’s offer for home-grown water treatment firm Hyflux, with the Middle Eastern investor repeatedly introducing changes to the deal at the last minute.

A press statement issued by SIAS chief David Gerald on Wednesday (Nov 20) read: “SIAS is concerned that while Hyflux, together with the various creditor groups, have been working within the timelines as required by the court to try and work out a deal acceptable to everyone, some deal changes have been repeatedly introduced at the eleventh hour by the investor.”

The investor advocacy group added that it hopes a deal – an outcome which would benefit many stakeholders, including retail investors – would not be scuttled by “such strategies designed to achieve advantages for one party only”.

“SIAS urges all parties, including the investor to continue negotiations with a view to achieve a commercially acceptable outcome for all stakeholders involved including in particular, the holders of the perpetual securities and preference shares.”

CNA has reached out to Utico for comments.

The United Arab Emirates utility firm has said in July that it is willing to take an 88 per cent stake in Hyflux through S$300 million in equity injection as well as a S$100 million shareholder loan.

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

Both parties have been in talks since and despite repeated deadlines issued by Utico, a definitive agreement has not been signed.

Hyflux's lawyer told the High Court earlier this month that some of the terms in the agreement are not “commercially acceptable” to the firm and its stakeholders.

The fallen water treatment giant, whose restructuring journey has been marked by several twists and turns thus far, has court protection from its creditors until Dec 2.

A High Court hearing has been scheduled on Nov 29 to consider any further applications or extensions of the debt moratorium.

Source: CNA/sk
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Old 25-11-2019, 08:35 PM   #3808
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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
One more week. OL is going to pull up another white knight story on the 11th hr?
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Old 26-11-2019, 07:51 AM   #3809
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One more week. OL is going to pull up another white knight story on the 11th hr?
I won't be surprised if request for another extension. This will likely drag on for some time.
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Old 26-11-2019, 08:39 AM   #3810
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This is not $2 deal and many Sinkie retailers got trapped.

The Judge is also quite fed up with Hyflux management as each time they get an extension, they didn't close any of the prior deals in place.
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