They just announced that they are prepared to confiscate more Hyflux's three other PPP assets in Singapore
. Dear noteholders, we have the upper hands. Government continue to engage in scare-tactics because we determine the outcome of the voting. Please stay united and vote No. We constitute a small part of the total debts, we can get 100% back, instead of 25%, if we vote No. Everyone will have to give in to us. This is our seniority and importance, in return for accepting a lower yield for our debts all these years. Even bankers get more than 4%. (Some of Hyflux's bankers charge more than 5% according to court documents).
If government dares to confiscate Tuaspring, SingSpring desalination plant, the Bedok Newater plant and the membrane bioreactor plant in Jurong,, let them face the anger from the PnPs retail investors and bankers. We just need to stand firm and united. Please pass the message to fellow noteholders. We will survive.
PUB monitoring Hyflux's other plants and will step in if they default https://www.sgsme.sg/news/pub-monitoring-hyfluxs-other-plants-and-will-step-if-they-default
National water agency PUB has been monitoring Hyflux's other facilities in addition to the Tuaspring water and power plant, and will invoke the same step-in rights if they should also default, Environment and Water Resources Minister Masagos Zulkifli said yesterday.
Mr Masagos was responding in Parliament yesterday to Workers' Party Non-Constituency MP Daniel Goh's questions on whether Hyflux's financial and operational woes will affect the SingSpring desalination plant, the Bedok Newater plant and the membrane bioreactor plant in Jurong, and in turn the water supply.
