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

frontier said:
NOW IS NATIONAL DAY. FEEL SO SAD TO SEE THIS TYPE OF NEWS. Release this type of news to hint that TuasOne will be next to be confiscated?
Hyflux is so loyal to Singapore, investors believed in the importance of water to Singapore. GOOD FOR NOTHING CIVIL SERVANTS JUST THINK OF SWALLOWING MORE HYFLUX ASSETS FOR THEIR KPI?
Click to expand...

The government is like those useless family men who sleep with women outside. They rather spend all their money on mistresses and steals from the family.

Singapore government rather loses $4bn, billions and billions overseas and not spend $400m to match Utico or SMI to help our 50,000 of our own people. Worst of all, instead of helping, NEA is just there to confiscate Tuaspring Desalination and potentially TuasOne next.



Latest: SG High Commissioner seeks mercy from new Indian state govt after SG plonks $4B into state https://www.theonlinecitizen.com/20...ian-state-govt-after-sg-plonks-4b-into-state/

9th Aug: Singapore Ready To Invest More in Andhra Pradesh
http://www.newindianexpress.com/sta...to-invest-more-in-andhra-pradesh-2016830.html
 
Just Released: Many units available in Hyflux Innovation Center at Bendemeer Road
https://www.commercialguru.com.sg/listing/21753948/for-rent-hyflux-innovation-centre

Choice Units Available
10 Storey Hi Spec Industrial Bld
Immediate Available
Sizes available for Lease:
1,000 to 60,000sqft

Hyflux reducing their floorspace in Hyflux Innovation Centre? Is that why the AGM for HyfluxShop Elo Water is at Tuas and not Belvedere Close or Bendeemer Road?
 
Last edited:
In a recent article on Hyflux written by the first author, it was mentioned that BDO Raffles was providing IA services to the company at least from FY2005 to FY2008, while its then partner, Lee Joo Hai, was chairing the company's AC. Since the AC is supposed to oversee IA, there was clearly a self-review threat.

Hyflux subsequently moved its IA function in-house. However, during the period from May 2013 to December 2015 when its non-executive director Gary Kee was re-designated to executive director, he had responsibilities for Corporate Finance, Information Technology, IA and Corporate Marketing functions. This may raise doubts about the independence of the IA function during that period, given that he was overseeing various support functions that IA would be expected to review as part of its work.

https://www.businesstimes.com.sg/opinion/many-sgx-listed-firms-not-getting-internal-audit-right
 
JustLikeThis said:
In a recent article on Hyflux written by the first author, it was mentioned that BDO Raffles was providing IA services to the company at least from FY2005 to FY2008, while its then partner, Lee Joo Hai, was chairing the company's AC. Since the AC is supposed to oversee IA, there was clearly a self-review threat.

Hyflux subsequently moved its IA function in-house. However, during the period from May 2013 to December 2015 when its non-executive director Gary Kee was re-designated to executive director, he had responsibilities for Corporate Finance, Information Technology, IA and Corporate Marketing functions. This may raise doubts about the independence of the IA function during that period, given that he was overseeing various support functions that IA would be expected to review as part of its work.

https://www.businesstimes.com.sg/opinion/many-sgx-listed-firms-not-getting-internal-audit-right
Click to expand...

Hyflux directors should be investigated!
 
Huatable said:
Hyflux directors should be investigated!
Click to expand...

It is a cover up by authorities. Let me put it this way, even good suitors have to pre-approved by government to avoid splitting the beans. Therefore, as long as the local and china state bidder are still in the game, we still have a chance. As mentioned since the beginning, Utico is just an attention-whore who wants to capitalize on the situation. They just don't have the money.
 
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I understand that the legal team representing a group of MTN holders led by @Maybe is defunct due to the drag by Olivia. They did not attend or brief that group since the Aug 2 hearing.

attrition warfare
 
JustLikeThis said:
I understand that the legal team representing a group of MTN holders led by @Maybe is defunct due to the drag by Olivia. They did not attend or brief that group since the Aug 2 hearing.

attrition warfare
Click to expand...

A few of the MTN noteholders decided to participate in either or both of the two legal groups that PNP trying to form and left us because they thought it is cheaper.

Nothing materialized for the two proposed legal groups. One group talk and talk, and only a few from another met a peanut lawyer, that's all.
 
Maybe said:
A few of the MTN noteholders decided to participate in either or both of the two legal groups that PNP trying to form and left us because they thought it is cheaper.

Nothing materialized for the two proposed legal groups. One group talk and talk, and only a few from another met a peanut lawyer, that's all.
Click to expand...

So your legal support is still there? If yes, then why no review after last hearing?
 
JustLikeThis said:
This is bad.
Click to expand...

From the way things go, we expect that they will come out with something that will deny PNPs to vote. Already hinted about this regarding their Special Purpose Vehicle proposal. Keep you in old hyflux + a negligible allocation in New Hyflux. They hum chee after the last voting.

Look, you are a preference SHAREholder, if you are sharp, today's announcement is meant for you and ordinary SHAREholders. If that is the case, PNPs will depend on MTN noteholders to deter any unfair restructuring.

For Securities in the announcement
HYFLUX 6% CUM PREF CLASS A 10 - SG2D17969577 - N2H
HYFLUX LTD - SG1J47889782 - 600
HYFLUX S$500M6%PERPCAPSEC - SG31B4000005 - BTWZ

https://links.sgx.com/1.0.0/corpora...2ec12679becb43a580f1da32ca085be19927f0f85810f
 
Maybe said:
From the way things go, we expect that they will come out with something that will deny PNPs to vote. Already hinted about this regarding their Special Purpose Vehicle proposal. Keep you in old hyflux + a negligible allocation in New Hyflux. They hum chee after the last voting.

Look, you are a preference SHAREholder, if you are sharp, today's announcement is meant for you and ordinary SHAREholders. If that is the case, PNPs will depend on MTN noteholders to deter any unfair restructuring.

For Securities in the announcement
HYFLUX 6% CUM PREF CLASS A 10 - SG2D17969577 - N2H
HYFLUX LTD - SG1J47889782 - 600
HYFLUX S$500M6%PERPCAPSEC - SG31B4000005 - BTWZ

https://links.sgx.com/1.0.0/corpora...2ec12679becb43a580f1da32ca085be19927f0f85810f
Click to expand...

hahaha means MTN is the kingmaker again? Just pacify you all is enough
 
Lee Hsien Loong going to walk about Global Warming on National Day Rally

Come On! I need you to talk about the recession ahead and HYFLUX. So many SIngaporeans affected.
 
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