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Hyflux
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Starship
Supreme |
11-Jul-2019 14:31
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White Knights or fairy tale or what?...............................   Hyflux says ' progressing towards a deal' with Utico as binding agreement deadline lapses 11/07/2019, 1:02pm SINGAPORE (July 11): Hyflux says it has had informal discussions with United Arab Emirates utilities group Utico FZC, even after the extended deadline for entering into a binding agreement lapsed on June 27. The debt-ridden water treatment firm earlier announced had received a non-binding letter of intent from Utico for a possible $400 million injection to be used for equity and working capital purposes as well as possible urgent interim funding. The proposed investment will see Utico invest in an 88% stake in Hyflux for an investment amount comprising $300 million as equity and $100 million as a shareholder loan. Utico has also informed Hyflux that intends to offer the cash equivalent of a 4% stake in the enlarged Utico group plus additional cash to the holders of preference shares and perpetual capital securities. In a joint statement on Thursday, Hyflux and Utico say they are &ldquo cognisant of time being of the essence to preserve value&rdquo . &ldquo The parties are now progressing towards a deal subject to approvals from all stakeholders and definitive documents being finalised and entered into,&rdquo the statement added. Hyflux and Utico say they have been actively engaged in discussions over the past few weeks, including face-to-face meetings. Over the past two days, they have also met with representatives of various stakeholder groups to discuss the proposed investment for an agreement. Had the binding agreement been sign by the June 27 deadline, Hyflux was supposed to hold a town hall meeting with its perpetual securities and preference shareholders this week. The Singapore High Court had allowed Hyflux&rsquo s debt moratorium to be extended to allow the troubled water treatment company to postpone debt payment even as creditors of the work on another plan to avoid liquidation. This came after the previous rescue deal agreed upon between Hyflux and white knight investor SM Investments collapsed at the last minute. https://www.theedgesingapore.com/news/management-corporate-governance/hyflux-says-progressing-towards-deal-utico-binding-agreement  |
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ysh2006
Supreme |
10-Jul-2019 11:26
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No news in this case is bad news....If got good news she will happily announce it.
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Maller
Elite |
10-Jul-2019 10:08
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So any news? Wat will happen to the common shareholders? Any comments?? | ||||
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Belteshazzar
Master |
30-Jun-2019 06:58
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Deliberation with gov | ||||
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ysh2006
Supreme |
29-Jun-2019 18:30
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Why Hyflux didn't said it accept or reject offer ?... | ||||
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Starship
Supreme |
29-Jun-2019 17:17
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Hyflux gets deadline extensions to announce 2018/19 financial results FRI, JUN 28, 2019 - 5:20 PM HYFLUX has been handed further deadline extensions by the Singapore Exchange to announce its FY2018, first- and second-quarter 2019 financial results, and hold its FY2018 annual general meeting (AGM). The deadline for announcing its FY2018 results was extended by a further five months while its fiscal 2018 AGM deadline was extended by three months. The troubled water treatment firm' s 2019 first-quarter results announcement was given a further three-and-a-half month extension, while that for its second-quarter results got a three-and-a-half month extension. The three financial statements and FY2018 AGM must be announced and concluded by Nov 30 or before the lifting of the trading suspension, Hyflux said in its filing to the bourse on Friday afternoon. https://www.businesstimes.com.sg/companies-markets/hyflux-gets-deadline-extensions-to-announce-201819-financial-results |
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TonyGan
Senior |
29-Jun-2019 16:58
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AGM delayed again, probably year end | ||||
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ysh2006
Supreme |
29-Jun-2019 11:46
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ysh2006
Supreme |
28-Jun-2019 10:30
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😕 😕 🤧
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ysh2006
Supreme |
27-Jun-2019 19:31
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No news mean bad news ?....
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ysh2006
Supreme |
27-Jun-2019 13:20
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Today need to reply to suitor whether want or not, find another guy already ?...
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ysh2006
Supreme |
19-Jun-2019 20:53
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This chat site Hyflux forumers not interested whether alive or dead!....
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destinykraze
Elite |
19-Jun-2019 12:32
Yells: "Reality is only a matter of perception" |
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No point selling $1b worth of assets for $400m. They would be left with billions of debts, that doesn' t help. Have to see the actual agreement to know if it' s a decent deal for hyflux.
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ysh2006
Supreme |
19-Jun-2019 08:36
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$400M take lah.....wait for China company higher price or 8 banks apply JM again ?
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Stephenchow
Veteran |
18-Jun-2019 20:31
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SINGAPORE: United Arab Emirates utility firm Utico has extended the deadline for entering into a binding agreement with Hyflux to Jun 27, the embattled water treatment company said on Tuesday (Jun 18). Utico, one of seven potential investors, had previously given Hyflux until Jun 17 to sign a binding agreement for its S$400 million investment. |
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destinykraze
Elite |
18-Jun-2019 18:21
Yells: "Reality is only a matter of perception" |
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meanwhile, the company continues to rack up more debts. | ||||
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ysh2006
Supreme |
18-Jun-2019 18:13
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Apply for extension 10 days for Utico .....You think it will want or no ?
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ysh2006
Supreme |
18-Jun-2019 07:04
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No news mean bad news ?....JM applying in progress....
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ysh2006
Supreme |
17-Jun-2019 21:46
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No go application for extension another two months ?....
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Stephenchow
Veteran |
16-Jun-2019 13:36
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Likely to choose Tiong' s company that has tons of unknown money, can bankroll them like no tomorrow and can be huge quiet sitting duck losing big time but never made a single noise (e.g the Tiong that lost big time in Noble) 
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