Regulators Refusing to Act - Hyflux & Noble Group's Decline

[JustLikeThis]

Pavilion Energy / Pavilion Gas

New Darling of Temasek - https://www.pavilionenergy.com.sg
https://www.pavilionenergy.com.sg/

 

[bic_cherry]

Hyflux exposed a lot of failures in our policies. So there are indications that it will be left to die so that the secrets get buried together, eg. Olam truly had issued with her valuations of agri assets, and SMRT, Tiger Airways, all got bailed out.

Then the 50,000 people pwned by the greed and stupidity of PAP policies will know which way to vote at the ballot box during GE I guess.

 

[JustLikeThis]

Still is PAP fault for HOODWINKING EVERYBODY into buying into their PONZI 8 million population scam.

Economy of Singapore has run aground because they are a one trick pony with GDP expansion vz population expansion as their ONLY STRATEGY.

Whatever it is, PAP 3/4 generation leaders have brought Singapore to it's knees and now 50,000 retail investors will have to pay for the PAP's retarded 8 million target population mistake.

Support for PAP will go DOWNHILL because PAP is unwilling to own up to it's mistakes.

That OCBC can topple Hyflux or cause Maybank to do a margin call on Hyflux only goes to show the ripple effect that bad PAP policies can have on the lives of Singaporeans. And the worst part, PAP is I'll aware of it's own INCOMPETENCE and greed.

Don't say that, if PUB does not hinder, many state-owned companies and conglomerates in the world will love to pay a premium to take over Hyflux and Tuaspring.

Hyflux has a lot of tangible values............. Tuaspring and Singspring dominates our desalination scene, Tuaspring is a power asset and next year Tuas-One will go live. Tuas-One is super valuable and they are on a huge hiring spree. It is a project with Mitsubishi that burns rubbish for energy.

As long as PUB don't hinder, foreigners will gladly pay a good price if Hyflux is allowed to be sold to them.

https://www.jobstreet.com.sg/en/job-search/jobs-at-hyflux-ltd

 

[bic_cherry]

During the Townhall meeting, Hyflux revealed that they are subjected to a use-or-burn contract with Temasek's natural gas subisidary. If they don't need so much natural gas, they still got to buy it (burn it), this constitutes the huge regular losses to Tuaspring because the low USEP pricing days in 2016/2017. USEP prices recovered above 100 in 2018 and continues to edge higher.

Please correct me if I didn't understand this part correctly during the Townhall meeting.

Then the Temasek subsidiary can either LOWER the gas price in line with lowered electricity prices due to surplus electricity supply or else, knowing that the over supply of gas stems from the PAP FAKE 8 million population target projection, then allow the contract to be rescinded in favour for either an equitably reduced gas supply amount or else lower prices in lieu of reduced electricity demand.

Temasek isn't taking responsibility for PAP policy mistakes and affected voters need to consider that when deciding whom to vote for during the general elections.

 

[JustLikeThis]

Then the 50,000 people pwned by the greed and stupidity of PAP policies will know which way to vote at the ballot box during GE I guess.

no comments, the lehmen investors made themselves heard.
Hyflux's investors are likely to be more passive, and the press did not publish such iconic photos for Hyflux investors

 

[JustLikeThis]

Then the Temasek subsidiary can either LOWER the gas price in line with lowered electricity prices due to surplus electricity supply or else, knowing that the over supply of gas stems from the PAP FAKE 8 million population target projection, then allow the contract to be rescinded in favour for either a lower supply amount or else lower prices in lieu of reduced electricity demand.

Temasek isn't taking responsibility for PAP policy mistakes and affected voters need to consider that when deciding whom to vote for during the general elections.

70% of Hyflux investors voted for it right? Many of them looked for MPs but only NMP Daniel Goh spoke on their behalf.

The indifference of the policymakers hinted that they are not keen to bail Hyflux like Olam.

 

[bic_cherry]

Don't say that, if PUB does not hinder, many state-owned companies and conglomerates in the world will love to pay a premium to take over Hyflux and Tuaspring.

Hyflux has a lot of tangible values............. Tuaspring and Singspring dominates our desalination scene, Tuaspring is a power asset and next year Tuas-One will be live. Tuas-One is also super valuable and they are on a huge hiring spree. It is a project with Mitsubishi that burns rubbish for energy. Foreigners will gladly pay a good price if Hyflux is allowed to be sold to them.

https://www.jobstreet.com.sg/en/job-search/jobs-at-hyflux-ltd

Oki, so it's PAP government number 1 (fake, ridiculous 8 million population guidance/target) and aggravated by PUB restricting sale of Tuas Spring at real market price without providing Hyflux with affordable loans to tide over the difficult period where by Tuas Spring is operating at a loss due to deception by PAP Singapore government about population targets and thus electricity consumption for Singapore. This is how PAP government treats it's trusted partners...

Guess PAP cannot blame anybody if they are voted out in general elections because they are an irresponsible party that gambles away citizen's life savings (vz defaulting or causing the default of Hyflux and other Singaporean companies perpetual securities).

 

[bic_cherry]

no comments, the lehmen investors made themselves heard.
Hyflux's investors are likely to be more passive, and the press did not publish such iconic photos for Hyflux investors

View attachment 47240

Lehman involved 10,000 people and $500 million.

Hyflux iirc is 50,000 people and $1,000,000,000....


PAP government has a big debacle up it's sleeve.

Time to book a slot at Hong Lim Park for at least 10,000 pax. I will be there to defend my rights (and the other innocent people that PAP defrauded).

 

[JustLikeThis]

Lehman involved 10,000 people and $500 million.

Hyflux iirc is 50,000 people and $1,000,000,000....

PAP government has a big debacle up it's sleeve.

closer to $1,500,000,000 if u include the Hyflux plain bonds that DBS sold to retirees in secondary market.
You see, for most young couples, they don't even have enough to pay up their car and housing loans or world-tour hahaha

Mainly retirees have that kind of 5 or 6 digits money to put aside in Hyflux bonds, preference shares and perpetuals.

 

[JustLikeThis]

Fucker Noble also defaulted a few billions worth of SGD to banks and investors.

 

[bic_cherry]

closer to $1,500,000,000 if u include the plain bonds that DBS sold to retirees in secondary market.
You see, for most young couples, they don't even have enough to pay up their car and housing loans or world-tour hahaha

Mainly retirees have that kind of 5,6 digits money to put aside Hyflux bonds, preference shares and perpetuals.

Hope to see some Hyflux perpetual securities holders rights movement activity at Hong Lim Park soon.

 

[JustLikeThis]

Hope to see some Hyflux perpetual securities holders rights movement activity at Hong Lim Park soon.

Rightfully, perpetual bondsholders have no say. It's ok not to pay coupons or redeem back perpetual bonds legally. However, they must get their coupons if Hyflux pays dividends and Hyflux XDed the perps without paying.

So thanks to the XD issue, perps holders need not go to Hong Lim, because they have a real case of a technical breach of bond term sheets and corporate lawyers can seek compensation or even redemption.

Because of these breaches, perpetual bondholders have more say now.

 

[Reddog]

There was this share market guru who swore that Noble will be more valuable than DBS. That was in 2014 and Noble was priced at $14. When the price started its decline, this same guru was declaring that Noble is a long-term investment. Today: $0.14

 

[borom]

I'm no fan of Hyflux or the malacca girl but I have always asked this question
" if Hyflux were to be run exactly the same way but has Temasek or GIC as its main shareholders-will it be in the same situation today ?"
What interest rates do GLC's or the govt pays compared to Hyflux?
Hyflux has been borrowing huge amounts at high interest rates-and this is its main problem.
If all these bonds were shares, how much would Hyflux have saved (by not paying dividends).
The fact that so many people were allowed to buy Hyflux papers is criminal as the company cannot afford to pay such high interest. Why should a company pay you so much higher rates than say a bank or the CPF (easier comparison for the simple mind) ?
High risk high returns -period

 

[Scrooball (clone)]

There are 2 types of investors:
- greedy fuckers who wanna earn more money. If not greedy, will just be content with fixed deposit right?
- stupid cunts who are too lazy and stupid to manage their money

 

[rushifa666]

She wanted to maintain control. As long as she refused to let go they cannot sell to raise money. So its all her fault

 

[JustLikeThis]

There are 2 types of investors:
- greedy fuckers who wanna earn more money. If not greedy, will just be content with fixed deposit right?
- stupid cunts who are too lazy and stupid to manage their money

fford to pay such high interest. Why should a company pay you so much higher rates than say a bank or the CPF (easier comparison for the simple mind) ?
High risk high returns -period

When Hyflux issued her preference shares in 2011, OCBC was paying about 5.1% for their preference shares under OCBC (parent company) and OCBC Capital (Subsidiary). Hyflux paid 6% for the 2011 preference shares so it wasn't perceived as high-risk, back then the market interest rates were a little higher, it was fair-market value.

Then when Hyflux paid 6% for her 2016 perpetual bonds, again top banks including Julius Baer just issued 5.75% perpetual SGD bonds, even SP Power's AusNet Services (Electricity Asset) issued at 5.5% for their perpetuals. Again, it was just market rate. In fact, there was PIIGS crisis in Europe and UK and German banks such as HSBC were paying more than 6% and Deustsche Bank issued at 7.5%.

Therefore, I don't think we can consider Hyflux investors are gamblers or risk takers.

 

[JustLikeThis]

There was this share market guru who swore that Noble will be more valuable than DBS. That was in 2014 and Noble was priced at $14. When the price started its decline, this same guru was declaring that Noble is a long-term investment. Today: $0.14

Noble is an outright fraud. I refer to the first post of this thread. Our regulators did not care much.
Now their stakeholders are forced to accept the new deal under a restructured "New Noble" for just one primarily underlying purpose - waiver of their rights to pursue the past wrongdoings of the management.

Shiok?

 

[JustLikeThis]

Temasek owns SP Group (SP Power), Temasek owns the regulators SGX


SP Group net profit averages almost $1 billion for past 13 years under the electricity tariff formula
https://www.theonlinecitizen.com/20...13-years-under-the-electricity-tariff-formula

 

[Scrooball (clone)]

When Hyflux issued her preference shares in 2011, OCBC was paying about 5.1% for their preference shares under OCBC (parent company) and OCBC Capital (Subsidiary). Hyflux paid 6% for the 2011 preference shares so it wasn't perceived as high-risk, back then the market interest rates were a little higher, it was fair-market value.

Then when Hyflux paid 6% for her 2016 perpetual bonds, again top banks including Julius Baer just issued 5.75% perpetual SGD bonds, even SP Power's AusNet Services (Electricity Asset) issued at 5.5% for their perpetuals. Again, it was just market rate. In fact, there was PIIGS crisis in Europe and UK and German banks such as HSBC were paying more than 6% and Deustsche Bank issued at 7.5%.

Therefore, I don't think we can consider Hyflux investors are gamblers or risk takers.

6% is easily 3 times more than the shitty less than 2% of fixed deposit these days.