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one-time highflux is now lowflux - may go belowflux
- Thread starter eatshitndie
- Start date
+2 billion market cap lost from top. Sinkies hong gan liao
Yes, the departure of COO and exit of Saudi business is not an overnight decision. Hyflux even communicated with the Saudis and received some reimbursement. These announcements appeared to be timed after the trading halt to avoid market disruption.
Anyway WTE depends on Japanese tech engineering, not the COO. In this project, Hyflux is just like main (local) contractor.
Should be 25-35000 sinkies + CPF nominees affected. MAS's silence is deafening.
Rumour is confirmed to be at least half correct for Maybank
http://www.theedgemarkets.com/article/maybank-down-concern-over-exposure-singapores-hyflux
OCBC also hopes to use Hyflux to dent DBS.
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Yes, it will be running two power plants in singapore and 20-25% of our water supply.
Many retirees vested their money with Hyflux and Hyflux has many suitors.
Your lords did save Olam. If they don't want to save Hyflux, at least, don't stop the Chinese and Japanese from taking over the company and its assets. Our government might stop foreigners from controlling Hyflux because of ownership clauses of Hyflux's electrical and water assets in Sinkapore.
Here's example of another example today, of another Malaysia bank screwing local companies in biased Malaysian court to swallow local companies
http://infopub.sgx.com/FileOpen/FEG_annt_24May18.ashx?App=Announcement&FileID=507244
There may be more than meet the eyes. Olivia can't be that dumb. It will be saved but not the shareholders.
Shows the mettle of sinkee CEOs and it is obvious to all now that they are far from world class. Something is bloody wrong with our system. After 50 years of existence, sinkapore can't even produce a world class company.
A lot more sinkies bought Hyflux perps and bonds in the past 3-4 years, largely because Hyflux was identified as a Temasek-affiliated company and it was still making money, though its profits have been shrinking for years. GE is about 2 years away. If the government allows Hyflux to go under, many of the bond and perp holders may have to take a huge haircut on their bonds. This could affect votes in the GE, and also affect confidence in the local market should other GLCs wanto to sell perps in future.
My guess is that Temasek will intervene somehow, allow Hyflux to sell off tuaspring, redeem the recently delayed perps and calm the markets a bit.
Nobel's problems were way too huge to save. Hyflux, excluding its tuaspring problems, is actually profitable. It only made a recent FY loss of $22M. Hyflux's problems is much less severe than Nobel's.
I hope you r right
Wonder how surbana is doing.
If bankrupt, shareholders lose all.
Preference share holders also ?
Hyflux has been losing money for the past 4 years. It has managed to stay profitable on the books only because of an accounting treatment which allows them to charge substantial sums of funding costs under the P&L statement as an earnings appropriation. The bankers are not stupid and know full well what's really going on over there.
I have learned my lessons ...can I have my money back from Hyflux?
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