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

[Dr Christopher Cheok C S]

also rumour that Keppel is merging with SembMarine

Keppel dropped 5% today, because of rumours that they will bail out Hyflux?

I read that it is because of corruption issues in Keppel. They wouldn't be so kind to save hyflux and sembmarine

 

[JustLikeThis]

UWG had been briefed about Hyflux's potential investors this week in Court.

 

[Filloz]

UWG had been briefed about Hyflux's potential investors this week in Court.

Only the committee members know, you are in the committee?

 

[Dr Christopher Cheok C S]

imho, Simon Tay is spared. When they are investigated (eg. New Silkroutes, IPC, etc), they have to step down from their directorships in other companies and organizations. Despite leaving Hyflux for a year after being exposed about his relationship with Wong Partnership, Simon Tay is not asked to step down from his positions in numerous companies and organizations.

Simon Tay is probably a whitehorse, got spared.

 

[Dr Christopher Cheok C S]

UWG had been briefed about Hyflux's potential investors this week in Court.

Will temasek bail us out like Olam?

 

[JustLikeThis]

Only the committee members know, you are in the committee?

Sorry, I can't disclose.

Been feeling very depressed, walk around in hot day sun, can feel weak and cold sweats. can't sleep well at night, sometimes just a 2 hours after knowing that the priority is not to save retail investors.

Still the same, strike us off to cover up.

 

[Filloz]

Sorry, I can't disclose.

Been feeling very depressed, walk around in hot day sun, can feel weak and cold sweats. can't sleep well at night, sometimes just a 2 hours after knowing that the priority is not to save retail investors.

Still the same, strike us off to cover up.

Please go see a doctor.

 

[Filloz]

Simon Tay is probably a whitehorse, got spared.

If you are a whitehorse, eg if you screw up SPH like Ng Yat Chung, you will still get bailed out.
SPH's balance sheet is very ugly now, it will delist like SMRT and Ng will be posted to a non-listed company because he is HC's people.

 

[JustLikeThis]

Still the same, strike us off to cover up.

Bloomberg: Hyflux, which was put under judicial management in November last year, currently has at least seven non-binding offers from potential investors, according to two people familiar with the matter.

Borrelli Walsh isn't yet able to determine whether the company will be restructured in entirety or its assets will be sold piecemeal, according to the people.

 

[Filloz]

Bloomberg: Hyflux, which was put under judicial management in November last year, currently has at least seven non-binding offers from potential investors, according to two people familiar with the matter.

Borrelli Walsh isn't yet able to determine whether the company will be restructured in entirety or its assets will be sold piecemeal, according to the people.

What I understand from MTN chatgroup, is that BW found the reason why cannot press charges against Simon Tay, Lum Suat Wah, and Olivia Lum, that's why CAD can't take action against them. Take note.
Looks like Government just want to close this scandal and move on. The plan is to shut the senior creditors up with recovery from remaining assets because we are the group with legal power (thanks to UWG). Nothing for junior creditors.

If you think government will help you, you'll fall for anything, including false hopes from BW.​

Assets for senior, if juniors get anything, it is from state bailout. I got non-MTN friends who are affected too, this weekend is the last chance if any retail investors want to beg their MPs.

 

[Filloz]

What I understand from MTN chatgroup, is that BW found the reason why cannot press charges against Simon Tay, Lum Suat Wah, and Olivia Lum, that's why CAD can't take action against them. Take note.
Looks like Government just want to close this scandal and move on. The plan is to shut the senior creditors up with recovery from remaining assets because we are the group with legal power (thanks to UWG). Nothing for junior creditors.

If you think government will help you, you'll fall for anything, including false hopes from BW.​

Assets for senior, if juniors get anything, it is from state bailout. I got non-MTN friends who are affected too, this weekend is the last chance if any retail investors want to beg their MPs.

They reported to UWG earlier this week. That was what we gathered. PUB can't shake off their misguidance, PUB got to stand trial next week.

 

[Empower]

They reported to UWG earlier this week. That was what we gathered. PUB can't shake off their misguidance, PUB got to stand trial next week.

Tell us more if you know more, the media should cover this. No wonder government want to sweep it under the carpets.

 

[Filloz]

Tell us more if you know more, the media should cover this. No wonder government want to sweep it under the carpets.

I understand that SMI will eventually sue PUB for some misrepresentation issues which got Hyflux into this mess.I guess we got into this mess because of PUB too.

This is why media dares not report this.

 

[JustLikeThis]

I understand that SMI will eventually sue PUB for some misrepresentation issues which got Hyflux into this mess.I guess we got into this mess because of PUB too.

This is why media dares not report this.

My personal take is that PUB will help SMI (not help Hyflux), so that they can cover SMI's mouth. PUB wouldn't want SMI to make them lose face, same reason why ACRA or CAD cannot touch the management.

At this stage, PUB is just involved in the case but not suing or being sued yet. Depending on their interests, they can choose to support Hyflux or SMI eventually, if any side dares to embarrass them.

Simple as that.

 

[JustLikeThis]

Heard in the pre-trial conference this week 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.

 

[Dr Christopher Cheok C S]

My personal take is that PUB will help SMI (not help Hyflux), so that they can cover SMI's mouth. PUB wouldn't want SMI to make them lose face, same reason why ACRA or CAD cannot touch the management.

At this stage, PUB is just involved in the case but not suing or being sued yet. Depending on their interests, they can choose to support Hyflux or SMI eventually, if any side dares to embarrass them.

Simple as that.

FUCK SGX ACRA AND CAD
Police don't catch thieves, JAIL CAD then

 

[Filloz]

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.

Seniors can get more back in liquidation. Nothing left for Juniors because Temasek rather save Sembcorp, Olam, SIA and not Hyflux.

 

[Focus]

FUCK SGX ACRA AND CAD
Police don't catch thieves, JAIL CAD then

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.

 

[Dr Christopher Cheok C S]

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.

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.

 

[Dr Christopher Cheok C S]

Actually, the police co-op also lost money in hyflux bonds