Hyflux

[¯|_(ツ)_/¯]

agree.
my take is likely Hyflux will be selling to Utico (not sure timeline).
from the dance move, Utico is definitely courting Hyflux - by soft and by hard way.

Hyflux is playing the hard to get game and it's quite clear that Utico is falling into the trap.

For obvious reason, there is something worth pursuing.

In any case, in responding to Utico (yet) another letter dated 11 Oct 2020, Hyflux finally show her hand (a little bit).
https://links.sgx.com/FileOpen/Letter%20...eID=634992

Let's see whether Utico take her hint.


Stay home and stay safe, everyone.

[weijian]

It is about time.

End of the road for Hyflux board as court appoints interim judicial managers

https://www.businesstimes.com.sg/compani...l-managers

[¯|_(ツ)_/¯]

Hyflux
A virtual townhall meeting for all Holders is to be held on 14 January 2021 (Thursday), 6pm (Singapore time) (“Meeting”). 

Holders who are interested in joining the Meeting must register by 11 January 2021 (Monday), 6pm (Singapore time) at the following registration site: 

https://septusasia.com/hyflux-vtm-registration/

The Judicial Managers’ primary focus is to facilitate a successful restructuring and the Judicial Managers are also undertaking a review of the assets, business, affairs and dealings of the Hyflux Group.

Stay home and stay safe, everyone.

[¯|_(ツ)_/¯]

Hyflux
On 4 June 2021, the Judicial Managers filed an application to the Court to wind up the Company.
https://links.sgx.com/FileOpen/SGX%20Ann...eID=670283

Stay home and stay safe, everyone.

[dydx]

So much time - 4 years, or more? - and effort spent in vain trying to save the company and the group business, so that the innocent layman retail investors including those who bought into the perpetual securities, pref shares and notes, could get a fair amount back or at least some light at the end of the tunnel after a successful restructuring. In a winding up or liquidation to come, shareholders and unsecured stand to get very little. Clearly the restructuring exercise had taken too long, and at the end everyone including the advisers - who still got their fat fees! - lost interest and motivation.

[¯|_(ツ)_/¯]

Hyflux


Updates on Utico FZC (“Utico”) bid
10. The Judicial Managers also wish to address recent press reports in respect of Utico. The Judicial Managers had previously terminated discussions with Utico as Utico was unable to meet the conditions required by the Judicial Managers to consider any offer from Utico. Utico has contacted the Judicial Managers following the filing of the Winding Up Application.

11. Utico remains unable to meet the minimum conditions required by the Judicial Managers and Utico’s recent contact and the associated press reports have no impact on the Winding Up Application
https://links.sgx.com/FileOpen/SGX%20Ann...eID=670785

Stay home and stay safe, everyone.

[¯|_(ツ)_/¯]

Stay home and stay safe, everyone.

[weijian]

Re posted this from Prof Mak's website.

A MESSAGE FOR HYFLUX PREFERENCE SHAREHOLDERS AND PERPETUAL SECURITIES HOLDERS (PNPS) FROM THE LITIGATION COMMITTEE

Dear fellow Hyflux Preference shareholders  and perpetual securities holders (PnPs),

A group of volunteers have formed a litigation committee and this email is an invitation to fellow PnPs who are interested in joining.

We currently have a legal firm ready to commence on the legal opinion. With this legal opinion and the aid of the legal firm, we plan to source for litigation funders subsequently. The legal firm has not commenced on their work, pending this fund raising exercise.

We are seeking $50 from each PnP who chooses to join. The legal fee charged by the lawyer for the legal opinion is capped at SGD20,000.

Hence, we need at least 400 PnPs to join before we proceed.

Subsequently, only those who have funded, registered with complete, accurate details and shown their proof of holdings with their full name shown will be updated on the progress.

More details are provided below:

1) PnP letter

https://drive.google.com/file/d/1cczagzb...UzWC3/view

2) FAQs

https://drive.google.com/file/d/1OerGZMP...sp=sharing

Do contact hyfluxretailpnp@gmail.com for your enquiries.

Thank you

Litigation Committee

(Stephen Lim, Johnson Zheng, Simon Sim, Max Sze, Francis Teo and Lee Eng)

https://governanceforstakeholders.com/20...committee/

[weijian]

With most of us suffering from high (and higher) electricity rates, a buyer for TS is still only willing to pay 270mil, far cry from its billion dollar valuation assigned to/bought off/signed off by all the accredited parties previously.

YTL Power acquires Hyflux's Tuaspring power station for $270m in cash

In a statement on Wednesday (June 1), the international utility group said its wholly owned subsidiary, YTL PowerSeraya, had completed the purchase at $270 million in cash.

https://www.straitstimes.com/singapore/y...0m-in-cash

[edragon]

With most of us suffering from high (and higher) electricity rates, a buyer for TS is still only willing to pay 270mil, far cry from its billion dollar valuation assigned to/bought off/signed off by all the accredited parties previously.

YTL Power acquires Hyflux's Tuaspring power station for $270m in cash

In a statement on Wednesday (June 1), the international utility group said its wholly owned subsidiary, YTL PowerSeraya, had completed the purchase at $270 million in cash.

https://www.straitstimes.com/singapore/y...0m-in-cash

For this power station alone, a billion dollars ? Sure way to go bankrupt, no?