Hyflux shareholders to stage protest at Hong Lim

[Angcheek]

Screenshot_20190401_084348_com.android.chrome.jpgScreenshot_20190401_084441_com.android.chrome.jpg

 

Wow this guy darn Pro.. Wonder what he work as..

 

the numbers all looked so good ......... at the end still die ..    

 

moral of the story ....... dont believe the numbers 

[Throttle2]

the numbers all looked so good ......... at the end still die ..

 

moral of the story ....... dont believe the numbers

The numbers didnt look good

It was clear cut over borrowing

But people keep making assumptions and correlations

 

Such as:-

Water wont die

Got govt behind

 

 

So there.

This is the difference between a solid investor and a mom & pop investor

 

No, its not about winning or losing

Ask monkey to flip coin can also win or lose

 

Its about knowing why you are taking the calculated risk and understanding where the downside is so that you wont be badly shocked should anything happen.

[Mahjong74]

https://www.todayonline.com/singapore/parliament-govt-will-not-use-taxpayers-money-bail-out-hyflux-investors

 

In Parliament: Govt will not use taxpayers’ money to bail out Hyflux investors

 

SINGAPORE — The Government cannot justify the use of taxpayer money to bail out retail investors who have been burnt by the financial woes of water treatment firm Hyflux, Minister for the Environment and Water Resources Masagos Zulkifli said in Parliament on Monday (April 1).

 

He was responding to a question from Mr Seah Kian Peng, a Member of Parliament (MP) for Marine Parade Group Representation Constituency (GRC), who asked if the Government could help out Singaporeans who have invested in the company.

 

But Mr Masagos said investors must understand that investments come with risks.

Even if water agency PUB’s planned takeover of Hyflux’s beleaguered Tuaspring desalination plant were to result in financial proceeds, investors have to remember that there is an order in which debtors and shareholders will be paid, he added.

 

“In this case, Maybank will still receive payments from TPL (Tuaspring Pte Ltd) before all other creditors, including PUB.”

Maybank is the secured lender of TPL.

 

Furthermore, Mr Masagos said, the planned PUB takeover of the desalination plant benefits Hyflux, as it alleviates the firm’s financial pressures.

On Saturday (March 30), some 300 people held a protest at Hong Lim Park against Hyflux’s restructuring proposal.

 

Many were Hyflux retail investors, some of whom called on the PUB to compensate them for the takeover of the Tuaspring desalination plant.

PUB is planning to takeover the plant at zero cost.

 

Mr Masagos pointed out that based on its current market valuation, the plant’s price is negative, which means that by right, TPL should have to pay PUB a compensation for the takeover. However, PUB is waiving the compensation sum.

 

He added that as the plant “has been and will likely continue to lose money for the next few years”, PUB would have to “incur costs to make good the plant”.

 

Nee Soon GRC MP Lee Bee Wah then asked Mr Masagos how the Government could justify using taxpayer money to buy over an asset that has negative value.

 

To that, Mr Masagos said that PUB decided not to claim the compensation sum as it was “likely not to get anything” even if it asserts its right to the compensation.

 

Workers’ Party chief and Aljunied GRC MP Pritam Singh asked if public safety was compromised at any point when Hyflux, due to its financial woes, was unable to replace poorly performing membranes at the Tuaspring plant promptly in early 2017, which had then affected the quality and quantity of water produced by the plant.

 

In response, Mr Masagos said: “PUB makes many, many tests in our water system to ensure water safety, including the one in TSDP (Tuaspring Desalination Plant). Therefore we are certain that water supplied to consumers is safe to drink.”

Edited April 1, 2019 by Mahjong74

[Windwaver]

Actually for IT like computing or comp engine, the govt sector hires quite a lot of locals. My wife is a comp engineer. Of the people she know that still does IT, I think at least 50% and above are employed by govt or stat boards.

 

Well, Mr. Goh was the one that decided to mass import foreign talent and a lot of those 'talents' are 'IT' people from India. Decades ago, Singaporeans in the IT sector were almost completely wiped out; Not many survived till these days.

 

It's funny how fresh grads tell me programming is tough when during my time, it was fun 

[Lala81]

Well, Mr. Goh was the one that decided to mass import foreign talent and a lot of those 'talents' are 'IT' people from India. Decades ago, Singaporeans in the IT sector were almost completely wiped out; Not many survived till these days.

 

It's funny how fresh grads tell me programming is tough when during my time, it was fun

If they don't find it satisfying, then likely they won't be good at it lor.

Anyway thinking like a computer/coder is not for everyone.

Edited April 1, 2019 by Lala81

[Enye]

https://www.todayonline.com/singapore/parliament-govt-will-not-use-taxpayers-money-bail-out-hyflux-investors

 

In Parliament: Govt will not use taxpayersâ money to bail out Hyflux investors

 

SINGAPORE â The Government cannot justify the use of taxpayer money to bail out retail investors who have been burnt by the financial woes of water treatment firm Hyflux, Minister for the Environment and Water Resources Masagos Zulkifli said in Parliament on Monday (April 1).

He was responding to a question from Mr Seah Kian Peng, a Member of Parliament (MP) for Marine Parade Group Representation Constituency (GRC), who asked if the Government could help out Singaporeans who have invested in the company.

But Mr Masagos said investors must understand that investments come with risks.

Even if water agency PUBâs planned takeover of Hyfluxâs beleaguered Tuaspring desalination plant were to result in financial proceeds, investors have to remember that there is an order in which debtors and shareholders will be paid, he added.

âIn this case, Maybank will still receive payments from TPL (Tuaspring Pte Ltd) before all other creditors, including PUB.â

Maybank is the secured lender of TPL.

Furthermore, Mr Masagos said, the planned PUB takeover of the desalination plant benefits Hyflux, as it alleviates the firmâs financial pressures.

On Saturday (March 30), some 300 people held a protest at Hong Lim Park against Hyfluxâs restructuring proposal.

Many were Hyflux retail investors, some of whom called on the PUB to compensate them for the takeover of the Tuaspring desalination plant.

PUB is planning to takeover the plant at zero cost.

Mr Masagos pointed out that based on its current market valuation, the plantâs price is negative, which means that by right, TPL should have to pay PUB a compensation for the takeover. However, PUB is waiving the compensation sum.

He added that as the plant âhas been and will likely continue to lose money for the next few yearsâ, PUB would have to âincur costs to make good the plantâ.

Nee Soon GRC MP Lee Bee Wah then asked Mr Masagos how the Government could justify using taxpayer money to buy over an asset that has negative value.

To that, Mr Masagos said that PUB decided not to claim the compensation sum as it was âlikely not to get anythingâ even if it asserts its right to the compensation.

Workersâ Party chief and Aljunied GRC MP Pritam Singh asked if public safety was compromised at any point when Hyflux, due to its financial woes, was unable to replace poorly performing membranes at the Tuaspring plant promptly in early 2017, which had then affected the quality and quantity of water produced by the plant.

In response, Mr Masagos said: âPUB makes many, many tests in our water system to ensure water safety, including the one in TSDP (Tuaspring Desalination Plant). Therefore we are certain that water supplied to consumers is safe to drink.â

ya lor ... use tax payers money to bail out investors is like raiding the reserves

 

 

[Windwaver]

 

Sometimes my friends and myself help to do some volunteer work for those 1 room rental flats elderly in their 70s or 80s. 

Like cleaning or sending food to the elderly. These pple more poor thing and most dun have have much $$$ to eat or enjoy. 

Majority of them dun even have $500 with them. 

 

These Hyflux shareholders although majority are retirees, but they are rich enough to invest 100k to 400k.

Which I believe its only 20 to 30% of their savings or retirement fund.

Who the hell will invest 90 or 100% of their savings in the first place???

 

So no need to be too worry for them. 

 

 

 

 

 

Yeah, me and my wife also go to old folks home to do simple cleaning, sometimes donate our old but still able to wear clothes.

 

Actually the old folks very cute, very happy to see us. Just peel an orange for them and they tell you their life stories  .

 

Unfortunately, many of them are not what they are now. Many of them only realize their mistakes and regret when they're in their golden years.

 

I know many people and colleagues around me think I'm without ambition and that makes me a weakling. That is partly true but I've come a long way to realize what the old folks in the homes are facing way before my golden years   .

 

I'm just happy the way things are for me  ; simple but enjoying every moment.

[Windwaver]

If they don't find it satisfying, then likely they won't be good at it lor.

Anyway thinking like a computer/coder is not for everyone.

 

Really respect your wife to be able to endure until now in IT.

 

Maybe I have a weird brain; my best subjects were always programming related but it's tough to find Singaporeans in the trade anymore because of the total wipe out decades ago.

 

I dare to say the brightest Singapore brains in IT was during those days when many of my classmates came in with single digits (cut off point). I bet your wife is one of those   .

[Mahjong74]

Yeah, me and my wife also go to old folks home to do simple cleaning, sometimes donate our old but still able to wear clothes.

 

Actually the old folks very cute, very happy to see us. Just peel an orange for them and they tell you their life stories  .

 

Unfortunately, many of them are not what they are now. Many of them only realize their mistakes and regret when they're in their golden years.

 

I know many people and colleagues around me think I'm without ambition and that makes me a weakling. That is partly true but I've come a long way to realize what the old folks in the homes are facing way before my golden years   .

 

I'm just happy the way things are for me  ; simple but enjoying every moment.

 

So nice of you and wife to do these for the elderly. 

 

And yes, the elderly always have lots of stories to tell me. Maybe they are also lonely and need someone to talk to.

 

Ultimately when we are old, what we need is very basic things. Health, food and able to sleep well without much regrets in our life. 

 

Nothing wrong of you to think simple and live simple. This is also the way of life for me nowadays. 

Really respect your wife to be able to endure until now in IT.

 

Maybe I have a weird brain; my best subjects were always programming related but it's tough to find Singaporeans in the trade anymore because of the total wipe out decades ago.

 

I dare to say the brightest Singapore brains in IT was during those days when many of my classmates came in with single digits (cut off point). I bet your wife is one of those   .

 

Well, I am also in IT since 1997. 

 

From technical engineer, blur blur become Technical manager, Project Manager and now kind of Programme Manager. 

Its like everything in life already programmed for me. 

 

Just a blink of the eye, can't believe I already in IT for 22 years. 

[Voodooman]

Really respect your wife to be able to endure until now in IT.

 

Maybe I have a weird brain; my best subjects were always programming related but it's tough to find Singaporeans in the trade anymore because of the total wipe out decades ago.

 

I dare to say the brightest Singapore brains in IT was during those days when many of my classmates came in with single digits (cut off point). I bet your wife is one of those .

True that FT are better in the IT game? Was told localsare not as creative and not able to think out of the box, hence kanna wiped out.

[L23]

True that FT are better in the IT game? Was told localsare not as creative and not able to think out of the box, hence kanna wiped out.

 

Are we ' faster, cheaper and more effective"?  

[Throttle2]

So nice of you and wife to do these for the elderly.

 

And yes, the elderly always have lots of stories to tell me. Maybe they are also lonely and need someone to talk to.

 

Ultimately when we are old, what we need is very basic things. Health, food and able to sleep well without much regrets in our life.

 

Nothing wrong of you to think simple and live simple. This is also the way of life for me nowadays.

 

 

Well, I am also in IT since 1997.

 

From technical engineer, blur blur become Technical manager, Project Manager and now kind of Programme Manager.

Its like everything in life already programmed for me.

 

Just a blink of the eye, can't believe I already in IT for 22 years.

 

Wah high flyer, big boss of IT dept

[Throttle2]

https://www.todayonline.com/singapore/parliament-govt-will-not-use-taxpayers-money-bail-out-hyflux-investors

 

In Parliament: Govt will not use taxpayers’ money to bail out Hyflux investors

 

SINGAPORE — The Government cannot justify the use of taxpayer money to bail out retail investors who have been burnt by the financial woes of water treatment firm Hyflux, Minister for the Environment and Water Resources Masagos Zulkifli said in Parliament on Monday (April 1).

He was responding to a question from Mr Seah Kian Peng, a Member of Parliament (MP) for Marine Parade Group Representation Constituency (GRC), who asked if the Government could help out Singaporeans who have invested in the company.

But Mr Masagos said investors must understand that investments come with risks.

Even if water agency PUB’s planned takeover of Hyflux’s beleaguered Tuaspring desalination plant were to result in financial proceeds, investors have to remember that there is an order in which debtors and shareholders will be paid, he added.

“In this case, Maybank will still receive payments from TPL (Tuaspring Pte Ltd) before all other creditors, including PUB.”

Maybank is the secured lender of TPL.

Furthermore, Mr Masagos said, the planned PUB takeover of the desalination plant benefits Hyflux, as it alleviates the firm’s financial pressures.

On Saturday (March 30), some 300 people held a protest at Hong Lim Park against Hyflux’s restructuring proposal.

Many were Hyflux retail investors, some of whom called on the PUB to compensate them for the takeover of the Tuaspring desalination plant.

PUB is planning to takeover the plant at zero cost.

Mr Masagos pointed out that based on its current market valuation, the plant’s price is negative, which means that by right, TPL should have to pay PUB a compensation for the takeover. However, PUB is waiving the compensation sum.

He added that as the plant “has been and will likely continue to lose money for the next few years”, PUB would have to “incur costs to make good the plant”.

Nee Soon GRC MP Lee Bee Wah then asked Mr Masagos how the Government could justify using taxpayer money to buy over an asset that has negative value.

To that, Mr Masagos said that PUB decided not to claim the compensation sum as it was “likely not to get anything” even if it asserts its right to the compensation.

Workers’ Party chief and Aljunied GRC MP Pritam Singh asked if public safety was compromised at any point when Hyflux, due to its financial woes, was unable to replace poorly performing membranes at the Tuaspring plant promptly in early 2017, which had then affected the quality and quantity of water produced by the plant.

In response, Mr Masagos said: “PUB makes many, many tests in our water system to ensure water safety, including the one in TSDP (Tuaspring Desalination Plant). Therefore we are certain that water supplied to consumers is safe to drink.”

 

They better not.

Hyflux expected to chwee more than quite some time ago....

These people think that they can have their cake and eat it .....forever.....

?

[Blueray]

don't blame Temasek hor ....

 

Temasek and its unit have not had investments in Hyflux since 2006

 

 

We refer to the article which mentioned Temasek's investment in Hyflux (Temasek invested, so couple did so too; March 31).

 

Temasek's investment in Hyflux was part of an initiative during the early 2000s to invest in Singapore small and medium-sized enterprises (SMEs), to support their growth in promising sectors, such as water technology.

 

Upon completion of its investment objectives, Temasek exited its Hyflux investment.

 

This was before 2006, as noted in the news article - well before the issuance of Hyflux preference shares in 2011 and their perpetual bonds in 2016.

 

Today, Temasek continues to invest in Singapore SMEs via an independently managed fund, Heliconia Capital Management.

 

Guided by its own board and management, Heliconia seeks to invest growth capital in Singapore-based SMEs.

 

In addition to risk capital, Heliconia management also works with its investee companies on strategies and opportunities for regional or international growth.

 

Neither Temasek nor Heliconia has had any investments in Hyflux since 2006.

 

https://www.straitstimes.com/forum/letters-in-print/temasek-and-its-unit-have-not-had-investments-in-hyflux-since-2006

[Ender]

I heard some people got say some of money raised will be used to pay pervious batches of people

If true mas should not allow for retail already

Like credit b pay credit a

Raise money to pay initial investors, isn't this a ponzi scheme.

[Mustank]

Raise money to pay initial investors, isn't this a ponzi scheme.

That time SIAS got ask Hyflux some questions

Then Hyflux got answer

I think the reply is found in Hyflux website one

I think a 5 page reply or something like that

[Knoobie]

don't blame Temasek hor ....

 

Temasek and its unit have not had investments in Hyflux since 2006

 

 

We refer to the article which mentioned Temasek's investment in Hyflux (Temasek invested, so couple did so too; March 31).

 

Temasek's investment in Hyflux was part of an initiative during the early 2000s to invest in Singapore small and medium-sized enterprises (SMEs), to support their growth in promising sectors, such as water technology.

 

Upon completion of its investment objectives, Temasek exited its Hyflux investment.

 

This was before 2006, as noted in the news article - well before the issuance of Hyflux preference shares in 2011 and their perpetual bonds in 2016.

 

Today, Temasek continues to invest in Singapore SMEs via an independently managed fund, Heliconia Capital Management.

 

Guided by its own board and management, Heliconia seeks to invest growth capital in Singapore-based SMEs.

 

In addition to risk capital, Heliconia management also works with its investee companies on strategies and opportunities for regional or international growth.

 

Neither Temasek nor Heliconia has had any investments in Hyflux since 2006.

 

https://www.straitstimes.com/forum/letters-in-print/temasek-and-its-unit-have-not-had-investments-in-hyflux-since-2006

 

Temasek must be saying "Heng ar! if not tio kp by people for losing CPF money again"

[Mockngbrd]

I thot temasek invest = don't invest?