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

JustLikeThis said:
Heard in the pre-trial conference this week that there are actually more than 7 offers. JM asked for time extension. However, the offers are either partial-asset purchase, not attractive or poor recovery for senior creditors.

Time extension could be the theme on actual hearing. UWG could be threatening liquidation and absolutely nothing left for junior creditors.
Click to expand...

Offer deadline is 31st March, but I wonder how many they will censor this time.
 
Last edited:
SOS said:
After CNY, my brother-in-law went to his GRC PAP MP for the second time about Hyflux. He was saddened that the non-singapore-born MP was indifferent and pretended never know about Hyflux's trouble. serious, it's true.

apparently hardly anyone bothered to speak to their MPs in the past two years.
Click to expand...

Not a wasted trip. at least your relative knows who to vote for, in future.
 
Focus said:
Hyflux sold the perpetuals to retail investors and went bust soon after that.
Money was used up damn fast, meaning that the hole was already deep when the regulators approved the debt instruments to be sold to public.
Click to expand...

Hin Leong boss got sued for 23 more charges. He hired his own lawyers.

Simon Tay and Olivia Lum are a bigger fraud, sold perpetuals to public then bankrupt. Went on to use company funds to hire their own restructuring managers to cover up. I want WONG PARTNERSHIP to be jailed with them together!!!
https://www.straitstimes.com/busine...hin-leong-founder-lim-oon-kuin-facing-23-more
 
SOS said:
After CNY, my brother-in-law went to his GRC PAP MP for the second time about Hyflux. He was saddened that the non-singapore-born MP was indifferent and pretended never know about Hyflux's trouble. serious, it's true.

apparently hardly anyone bothered to speak to their MPs in the past two years.
Click to expand...

PAP bailing put capitaland now. https://www.sammyboy.com/threads/ca...-finally-bailed-out-by-taxpayers-money.301593
They don't believe in losing Hyflux retail investors support.
 
actually if we look at who really benefited from this debacle, it was PUB who got a free desalination plant for doing nothing.

if PUB were to simply pay for the plant, the money could be used to pay off the debts. alas, the world isn't so simple and straight forward.
 
Focus said:
PAP bailing put capitaland now. https://www.sammyboy.com/threads/ca...-finally-bailed-out-by-taxpayers-money.301593
They don't believe in losing Hyflux retail investors support.
Click to expand...

Hyflux & Capitaland
MAS & SGX need to scrutinise CapitaLand’s latest restructuring plan, protect retail investors from its troubled assets - "This means the rich will become richer, and the poor will become poorer because our regulators are all either asleep or incompetent in regulating our stock exchange."

https://www.theonlinecitizen.com/20...ct-retail-investors-from-its-troubled-assets/
By merely assuming that just because a counter is approved under CPFIS is safe has taught many retirees a painful lesson when the embattled Hyflux was placed under judicial management, despite being an approved CPFIS counter.

As the assets of CapitaLand are likely to remain troubled for the foreseeable future, worse should we experience another pandemic, CLIM, the portion of CapitaLand to remain listed could just be as toxic as Hyflux, if not worse.

After Hyflux, how many more retirees must be hurt before MAS, SGX, SIAS, and CPF Board will act to protect the hard-earned savings of our retirees when they gullibility invest in these toxic equities?
 
Sorry, wish to share some personal things here, hope it will make me feel better.

Today, went back home to pray for Qing Ming, not at the usual temple cos social distancing. My father went into a rage, banged table. We were just eating together after praying.

He was angry, i guess life took a toll on him. His shoulders and legs are in pain due to old age, his savings were lost to Hyflux. He threw his anger on me because I told him to park the money in Hyflux. I shouldn't have given any advice, lose money he said he don't blame me, but I think it haunts him. I am not very angry about him but more worried about his mental state because he has no awareness now. Hyflux drove him crazy. This is why I hate the government so much for covering up.

Money just gone like that because of government cover-up.
 
When I was a child, my teacher told me the story of a man who behaved like an obedient child in front of his parents.
People asked him why he did so, despite being a 40 years old adult.

He said he behaved like a child, because he didn't want his parents to feel old.
He said he listened to them obediently, because he wanted them have self-worth.
He said he helped his parents take care of his parents, so that they would be free of troubles.

For years, I thought so. So much for confucius thinking

After doing so for years, all i get is humiliation, get blamed for everything,
scolded me in front of wife and kids,
win money never thank me, lose money blame me,
laughed at me for not being rich, told me that I had to sell my ass to buy big-ticketed items
and useless parents who don't care for their own parents.

Fuck you Hyflux for letting me realize how foolish I have been.
 
SOS said:
When I was a child, my teacher told me the story of a man who behaved like an obedient child in front of his parents.
People asked him why he did so, despite being a 40 years old adult.

He said he behaved like a child, because he didn't want his parents to feel old.
He said he listened to them obediently, because he wanted them have self-worth.
He said he helped his parents take care of his parents, so that they would be free of troubles.

For years, I thought so. So much for confucius thinking

After doing so for years, all i get is humiliation, get blamed for everything,
scolded me in front of wife and kids,
win money never thank me, lose money blame me,
laughed at me for not being rich, told me that I had to sell my ass to buy big-ticketed items
and useless parents who don't care for their own parents.

Fuck you Hyflux for letting me realize how foolish I have been.
Click to expand...

Sorry about the repercussions. Please keep a clear mind, think about your wife and kids. There are things that we cannot control. However, don't be angry with your parents, be angry with those who brought us to current state.
 
SOS said:
When I was a child, my teacher told me the story of a man who behaved like an obedient child in front of his parents.
People asked him why he did so, despite being a 40 years old adult.

He said he behaved like a child, because he didn't want his parents to feel old.
He said he listened to them obediently, because he wanted them have self-worth.
He said he helped his parents take care of his parents, so that they would be free of troubles.

For years, I thought so. So much for confucius thinking

After doing so for years, all i get is humiliation, get blamed for everything,
scolded me in front of wife and kids,
win money never thank me, lose money blame me,
laughed at me for not being rich, told me that I had to sell my ass to buy big-ticketed items
and useless parents who don't care for their own parents.

Fuck you Hyflux for letting me realize how foolish I have been.
Click to expand...

Take care bro
 
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