• IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here.

    The OTHER forum is HERE so please stop asking.

SIX YEARS INTO HYFLUX's COLLAPSE: Where did the “missing” $3 Billion go? Some investigations drag out for years and such mysteries never get solved.

Byebye Penis

Alfrescian
Loyal
A month later, it will be the 6-year anniversary of Hyflux's Collapse.

- Outright False Accounting:
$3 billion in assets valuation vanished overnight - KMPG, CFO, CEO, Directors not arrested for six years.

- Outright Conflict of Interest: Director Simon Tay brought his own firm, Wong Partnership to initiate the restructuring the company. Hindered prospective foreign white knights by limiting information disclosure. Heliconia Capital sheltered former Hyflux Director and managers.

- Outright Non-Compliance of Listing Rules: Hyflux issued Dividends to ordinary shareholders before paying perpetual bond/preference shareholders

- Outright Misinformation: DBS issued retail bonds to bail out their secondary market accredited Hyflux investors, mislead about nature of business and failure to disclose nature of business and primary risks in prospectus of retail bonds

- Outright Betrayal by The State: Regular PUB confiscated Hyflux's largest asset for free, not to save retail investors. Government raped retail investors to save their own ass, in this PPP venture (Private-Public Partnership)

Where did the “missing” $3 Billion go? Some investigations drag out for years and such mysteries never get solved.
 
Top