These people think we are dumbfucks.
We did some maths yesterday afternoon. Our legal did speculate that Aqua Munda's offer target the small businesses with exposures to Hyflux and desperate noteholders to get headcounts.
An insider told our us at Sheraton that a local bank (is it DBS?) is in talks with Utico and Aqua Munda to offload Hyflux notes held in their nominee accounts. Many AI investors bought Hyflux's notes with bank leverage. Now, the bank owns many of these notes because many AI couldn't pay up fully when Hyflux defaulted. She said the bank is also trying to get higher considerations for the those unpaid Perpetuals and Preference Shares owned by the AI.
At the same time, the leader from another notes legal group shared with us that their lawyer highlighted that Utico or whoever takes over Hyflux can make quick bucks from contingency claims that does not materialize.
Having said gathered these insights, I HAVE TWO IMPORTANT MESSAGES
To the Note-holders,
Unlike the SMI situation, this time, our bargaining power is affected by the above situation and those who give in to Aqua Munda. Please don't be stupid and bear in mind, you can get similar returns or higher under Juridical Management.
OR just think like Utico, we can make additional money from unsuccessful contingency claims. This is pure Maths. No fancy accounting. Don't let people fool us, do not agree to Utico.
To the PnPs,
There is no incentive for Utico to manage Hyflux's main business path, because clearly they will only make money from any contingency claims that are not successful. Seriously, who will trust Hyflux to manage their infrastructures after all these shit and Hyflux has no cutting-edge technology. Don't be stupid and believe in the second deferred payment option that they will list eventually and issues you shares that will surge a few thousand percent to help you recoup 50%. This is common sense.