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

Maybe said:
JM is positive for investors.

If Hyflux is under JM, Olivia, Gay Chee Cheong, Lim Suat Wah and Simon Tay's dirty deeds will be exposed. Therefore, these four bastards will not let JM take place. Hyflux is clearly a replica of Enron and the bastards need time to bring their personal assets offshore legally due to Common Reporting Standards disclosure. It is believed that even some civil servants are involved in the scandal.
  • Just think about it, who got wind and led to the massive retail-bond selldown from Feb 2018 till suspension.
  • Think about it, why CPF board did not allow the 6% perpetual to be paid with CPF-OA when they allowed the CPF to be used for Preference Shares?
  • Investors were simply fooled to buy the 6% perpetuals so that DBS could bail out their AI investors who bought the earlier 5.75% and 4.8% preference shares.

Please ignore MAS's motherhood statement that DBS is innocent and Masago claiming that everything is commercial.

Did you realize that NEA stopped many investors to buy over Tuaspring in 2018 because they didn't want to open up the can of worms when (untrusted) new owners come in? Confiscating Tuaspring for zero-dollar because it was not well-maintenance is a lame excuse to cover-up. If you rented house's toilet is leaking and can you confiscate the toilet from your landlord? The regulators are just trying to silent Hyflux's investors.

Do you understand why CAD is holding back from revealing Hyflux's findings for two bloody years? CAD do not want to be flagged for covering up the shit for Hyflux if they don't disclose everything. Therefore, CAD rather delay filing charges. Having JM will allow the motivated creditor-teams to raid the Hyflux's past records.

As such, I do believe that the closer we are to JM, the more likely that we will be bailed out.

There is nothing wrong with begging for a state bailout.
Every investor should write to the Prime Minister and Minister of Finance personally, because saving Hyflux is a tiny fraction of the money they used for SIA and 10% of the funds that Temasek put aside for Keppel earlier. All we need is the PM and Finance Minister to forward your emails to their subordinates with just three letters, "FYA" and we will be saved.
Click to expand...

hahahahaha FYA!!! Good points. Anyway, an important announcement is coming.
 
Put things in perspective, Singapore airlines is run by a rouge management team and losing $10million A DAY!!!
 
SOS said:
I think this Johnny is acting on behalf of Oliva or Board of Directors. Got bank lawyers pointed out similarity of at least another prospect's offer as Johnny. Nothing tangible in his offer except emphasizing of Olivia and Board of Directors cannot be touched by CAD. Isn't that intervening criminal investigation?

Perhaps he is some sort of their friend or proxy cos he grew up in Singapore.
Click to expand...

the government probably won't risk more political capital to save the board after the recent election results.

if justice is not served in this case, PAP will lose another 2-3% vote share for the next round. or even double with the multiplier effect.
 
pvtpublic said:
the government probably won't risk more political capital to save the board after the recent election results.

if justice is not served in this case, PAP will lose another 2-3% vote share for the next round. or even double with the multiplier effect.
Click to expand...

I think they lose another 8% this year mainly because of Hyflux, despite distributing a lot of money.
 
SOS said:
I think they lose another 8% this year mainly because of Hyflux, despite distributing a lot of money.
Click to expand...


they would probably have lost another one or two GRCs if not for the 93bn giveaway. money well spent?
 
pvtpublic said:
they would probably have lost another one or two GRCs if not for the 93bn giveaway. money well spent?
Click to expand...
In 2015 elections, there was a lot of money give away and resulted in a crashing defeat for opposition. This year, they did the same but they lost another 8% so something very fundamental changed.

hyflux caused a change of heart for the most hardcore current and retired civil servant votes. Many still think government will bail out hyflux so I will expect the government to be stuck with less than 56% popular votes forever when Hyflux is gone by the next elections.
 
PROPERTY developer Oxley Holdings recorded a net loss of S$296.3 million for the second half of the financial year ended June 30. The H2 net loss was a sharp reversal from the S$62.5 million net profit in the year-ago period. The latest results take Oxley's full-year net loss to S$280.6 million, compared with full-year net profit of S$96.8 million the year before.
https://www.businesstimes.com.sg/co...-loss-for-h2-despite-gross-profit-quadrupling
 
Maybe said:
Earlier on 13 August, debt-laden water treatment firm Hyflux announced that the unsecured working group (UWG) of bank lenders has sought to place the firm under judicial management. The group – comprised of Mizuho, Bangkok Bank, BNP Paribas, CTBC Bank, KfW, Korea Development Bank, and Standard Chartered Bank – was granted to carve out of Hyflux’s debt moratorium by the High Court last month after it argued that Hyflux’s management is no longer reliable to lead any restructuring effort.
Click to expand...

Can you imagine if DBS and OCBC were part of this group? There would be Temasek/CAD level collusion with Olivia and the board.
 
Xisiqomelir said:
Can you imagine if DBS and OCBC were part of this group? There would be Temasek/CAD level collusion with Olivia and the board.
Click to expand...

DBS sold the toxic perpetuals to the retail investors to bail out their Accredited Investors, this is a fact.

As for OCBC, they took the chance to embarrass DBS and there were rumors that investigators found OCBC's clients short-sold before their negative report was unleashed and the days after that (chinese new year 2018), OCBC's clients accounted for a good portion of the buying at significant sub-par level to cover their earlier positions.
 
Xisiqomelir said:
Can you imagine if DBS and OCBC were part of this group? There would be Temasek/CAD level collusion with Olivia and the board.
Click to expand...

Simon and Olivia also colluded with Wong Partnership (restructuring manager). This is a clear breach of trust because they never declare the conflict of interest for 18 months. You see, the CEO, CFO, directors, lawyers, NEA, everyone was very enthusiastic about Hyflux's failure in 2018, trying to get something out of it.
 
SOS said:
more troublesome for preference sharesholders who bought with OA account to vote during restructuring. They need to contact their custodian bank to get proxy.
Click to expand...

Many votes were held by DBS due to CPF OA account and their clients had the largest leverage exposure, these are all held in nominee accounts. Prior to Salim's voting, DBS was less cooperative to these two group of investors whose voting rights were held in their nominee accounts, hoping to dictate the outcome. Standard Chartered, OCBC took the initiative to assist their clients and issued proxies to them.
 
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