Ash2017 Twincharged December 3, 2019 Share December 3, 2019 46 minutes ago, MQX87511 said: wonder how come hyflux still can survive must have friends in high places ↡ Advertisement 2 Link to post Share on other sites More sharing options...
Blueray Hypersonic June 2, 2020 Share June 2, 2020 Hyflux and its directors, including Olivia Lum, under criminal investigation for corporate governance breaches Quote SINGAPORE - Troubled water treatment firm Hyflux is under criminal investigation for false and misleading statements, as well as non-compliance with accounting standards, the authorities said on Tuesday (June 2). The investigation, which also involves the company's existing and former directors, follows a review of Hyflux-related disclosure and compliance with accounting and auditing standards which began in April 2019. The review, conducted by the Monetary Authority of Singapore (MAS), the Accounting and Corporate Regulatory Authority (Acra) and the Singapore Exchange Regulation, surfaced reasons to suspect that several offences may have been committed, the authorities said. https://www.straitstimes.com/business/companies-markets/hyflux-and-its-directors-including-olivia-lum-under-criminal Link to post Share on other sites More sharing options...
Wt_know Supersonic June 2, 2020 Share June 2, 2020 wah ... jit dong cheng liao! Link to post Share on other sites More sharing options...
Volvobrick Supersonic June 2, 2020 Share June 2, 2020 17 minutes ago, Wt_know said: wah ... jit dong cheng liao! Erections coming.... Must jiao dai. Link to post Share on other sites More sharing options...
Blueray Hypersonic June 4, 2020 Share June 4, 2020 Sias calls for Hyflux directors to step down amid probe over corporate governance lapses Quote SINGAPORE - The Securities Investors Association (Singapore), or Sias, is calling for the directors of embattled water treatment firm Hyflux to step down. "Directors must go because of poor credibility and they may not have the time for restructuring. They have taken too long and haven't displayed the ability to close a deal," said Sias president David Gerald on Wednesday (June 3). A number of perpetual securities and preference (PNP) shareholders have expressed their concerns about the current situation at Hyflux, he noted. Quote Directors involved in the probe include Hyflux's executive chairman Olivia Lum and lead independent director Teo Kiang Kok. https://www.straitstimes.com/business/companies-markets/sias-calls-for-hyflux-directors-to-step-down-amid-probe-over-corporate Link to post Share on other sites More sharing options...
Throttle2 Supersonic June 4, 2020 Share June 4, 2020 Huat ah! Link to post Share on other sites More sharing options...
Count-Bracula Twincharged June 4, 2020 Share June 4, 2020 Who auditor? Link to post Share on other sites More sharing options...
Blueray Hypersonic June 5, 2020 Share June 5, 2020 18 hours ago, Count-Bracula said: Who auditor? Acra inspects KPMG's 2011 to 2018 audit of Hyflux Quote THE Accounting and Corporate Regulatory Authority (Acra) is inspecting the audit work done by KPMG for Hyflux as part of a larger probe into the water treatment firm's compliance with accounting and auditing standards over a period of years from 2011 to 2018. KPMG was the auditor for Hyflux during that period. A spokesperson for the accounting watchdog told The Business Times on Wednesday: "Acra, under the Practice Monitoring Programme (PMP), inspects audits carried out by auditors registered with Acra to assess their compliance with Singapore Standards on Auditing. The inspection on the audit of Hyflux is carried out under the PMP and is currently ongoing." On Tuesday, Acra, together with the Commercial Affairs Department of the Singapore Police Force and the Monetary Authority of Singapore (MAS), said that Hyflux and its current and former directors are under investigation for suspected false and misleading statements and breaches of disclosure rules that may have taken place over a period of years. https://www.businesstimes.com.sg/companies-markets/acra-inspects-kpmgs-2011-to-2018-audit-of-hyflux 1 Link to post Share on other sites More sharing options...
Throttle2 Supersonic June 5, 2020 Share June 5, 2020 Wwwwwwoooooohhhhoooooo! Link to post Share on other sites More sharing options...
Victor68 Turbocharged June 6, 2020 Share June 6, 2020 On 6/4/2020 at 12:38 PM, Blueray said: Sias calls for Hyflux directors to step down amid probe over corporate governance lapses https://www.straitstimes.com/business/companies-markets/sias-calls-for-hyflux-directors-to-step-down-amid-probe-over-corporate I do hope whatever wrong doing only happen recently before audit. If the history gone beyond a few years, then the purpose of auditing and the people involved in governance need to be reviewed. Surely all the public awards issued were based hear say only lor. Link to post Share on other sites More sharing options...
Freeder Hypersonic June 6, 2020 Share June 6, 2020 21 hours ago, Blueray said: Acra inspects KPMG's 2011 to 2018 audit of Hyflux https://www.businesstimes.com.sg/companies-markets/acra-inspects-kpmgs-2011-to-2018-audit-of-hyflux 1 Link to post Share on other sites More sharing options...
Blueray Hypersonic June 6, 2020 Share June 6, 2020 Hyflux receives notice of termination for Algerian O&M contract Quote HYFLUX said on Friday that one of its units has received a notice of termination in respect of the operations and maintenance (O&M) contract for its Magtaa seawater desalination plant in Algeria. The notice was issued by the owner of the project, Tahlyat Myah Magtaa (TMM), and specifies that Hyflux Operation & Maintenance Algeria, a wholly-owned unit of Hyflux, has 40 days to cure certain purported events of default under the O&M contract, failing which TMM would terminate the O&M contract. Hyflux has a 47 per cent shareholding interest in TMM. Hyflux Operation & Maintenance Algeria said that it does not agree with or accept the allegations made in the notice and will seek advice on enforcement and protection of its rights in the project. The purported termination, if put into effect by TMM, is expected to have a material impact on the group’s financial performance for the year ending Dec 31, 2020. https://www.businesstimes.com.sg/companies-markets/hyflux-receives-notice-of-termination-for-algerian-om-contract 1 Link to post Share on other sites More sharing options...
Jusnel 6th Gear June 6, 2020 Share June 6, 2020 Will KPMG pee in its pants now? Link to post Share on other sites More sharing options...
inlinesix Supersonic June 6, 2020 Share June 6, 2020 37 minutes ago, Jusnel said: Will KPMG pee in its pants now? Why would they pee? Fraud detection is not part of job scope Link to post Share on other sites More sharing options...
Icedbs Turbocharged June 6, 2020 Share June 6, 2020 On 6/2/2020 at 9:26 PM, Blueray said: Hyflux and its directors, including Olivia Lum, under criminal investigation for corporate governance breaches https://www.straitstimes.com/business/companies-markets/hyflux-and-its-directors-including-olivia-lum-under-criminal I am not reading too much into this..... What happen to the Keppel Execs who kena investigated? The case was even debated in Parliment. No news about them anymore right? Link to post Share on other sites More sharing options...
Fcw75 Hypersonic June 6, 2020 Share June 6, 2020 (edited) Popcorn now... Edited June 6, 2020 by Fcw75 Link to post Share on other sites More sharing options...
Blueray Hypersonic November 17, 2022 Share November 17, 2022 2011 Olivia Lum is first woman to win Ernst & Young World Entrepreneur Of The Year Award https://sbr.com.sg/markets-investing/more-news/olivia-lum-first-woman-win-ernst-young-world-entrepreneur-year-award 2022 Ex-Hyflux CEO Olivia Lum, ex-CFO and four others charged with violations of Securities and Futures Act https://www.straitstimes.com/business/ex-hyflux-ceo-olivia-lum-ex-cfo-and-four-others-charged-for-violations-of-securities-and-futures-act 2 Link to post Share on other sites More sharing options...
t0y0ta Supercharged November 17, 2022 Share November 17, 2022 1 hour ago, Blueray said: 2011 Olivia Lum is first woman to win Ernst & Young World Entrepreneur Of The Year Award https://sbr.com.sg/markets-investing/more-news/olivia-lum-first-woman-win-ernst-young-world-entrepreneur-year-award 2022 Ex-Hyflux CEO Olivia Lum, ex-CFO and four others charged with violations of Securities and Futures Act https://www.straitstimes.com/business/ex-hyflux-ceo-olivia-lum-ex-cfo-and-four-others-charged-for-violations-of-securities-and-futures-act She looks like GRAB now ↡ Advertisement 1 Link to post Share on other sites More sharing options...
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