| Latest Forum Topics / Hyflux Last:0.21 -- |
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Hyflux
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destinykraze
Elite |
22-May-2019 08:41
Yells: "Reality is only a matter of perception" |
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Sounds great for those working at the plant. Thats is a win.
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Stephenchow
Veteran |
21-May-2019 21:30
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Not sure worth $1b or not, should be less Hyflux' s completed projects in Singapore, China, Southeast Asia, the Middle East, and Algeria:- 
        - Tuas One Waste to Energy (75%)         -  Qurayyat Independent Water Project
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Stephenchow
Veteran |
21-May-2019 20:46
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destinykraze
Elite |
21-May-2019 10:39
Yells: "Reality is only a matter of perception" |
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Debts of $3b last year. This year should be way more than $3b. TS was hyflux biggest asset and some of the overseas assets are loss-making too.
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ysh2006
Supreme |
21-May-2019 10:12
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Heard Hyflux oversea assets still worth $1B......so with $400M can take $1B oversea assets still good ?....
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destinykraze
Elite |
21-May-2019 09:58
Yells: "Reality is only a matter of perception" |
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With TS assets gone, there would be no injection of few hundred million. Don' t think there are any stupid " white knights"
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Stephenchow
Veteran |
20-May-2019 10:17
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After this waterplant issue is settled, the white lightning strike party will come out and tell you:- if you don' t vote for me, Singaporean women will need to work as maids in South East Asia,  guys will need to work as cheap labours in South Continents and children will need to dig out trash from the bin and eat leftover  food from the trash can and when they grow up, they will need to work as public servant carrying  2 buckets of nightsoil a.k.a shit on the street. Sound familiar? No?  ![]() ![]()   |
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ysh2006
Supreme |
19-May-2019 19:43
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Now people might say ITE...
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Know-Your-Stuff
Senior |
19-May-2019 00:37
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Ppl still talking abt this dead company. No eyes to see. How is a few hundred million $ going to rescue a company that owrs a few billions? Amazing. | ||||
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Stephenchow
Veteran |
18-May-2019 13:43
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https://www.youtube.com/watch?v=_9YIZs3kEOc Can' t stop laughing, especially the guy acting as Crab 
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Stephenchow
Veteran |
18-May-2019 12:23
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All these are expected, with the election round the corner, they want to shut this case as soon as possible and don' t want people to attend the protestion at Hong Lim Park eating bento box and no time to attend their White Rally.  ![]() ![]() This is first time I see a govt agency in so awkward position, on the spot and has to come out several times to explain themselves definitely worst than the once in the 50 years flood  and Orchard road ponding incidents.  ![]() Guess the agency must be damn freaking angry.  ![]()     |
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MichaelSchenker
Master |
18-May-2019 11:03
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That is true, great to know the employees are safe. They are trained staff and the company needs them. Hyflux is not about to close. However, Olivia Lum and the existing board must go, along with a change in Auditors. Must be totally revamped. The current management smacks of deception.  
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enjoylife77
Veteran |
18-May-2019 10:50
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https://www.channelnewsasia.com/news/business/tuaspring-how-hyflux-desalination-plant-taken-over-by-pub-11535128 |
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AhLiang
Elite |
18-May-2019 10:37
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In Singapore, desalination of sea water has never been and will never be a profitable business. Many people knew about this and the gov knew about this but Hyflux was so daring to go big into it. Yes, water is strategic and politically important. But precisely because of this the gov has to make sure it is cheap. I use a lot of water to wash my yards and car everyday because water is cheap. Yet I don't think Hyflux has made any money from me. It subsidised me instead. | ||||
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Stephenchow
Veteran |
18-May-2019 08:55
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https://www.channelnewsasia.com/news/business/tuaspring-how-hyflux-desalination-plant-taken-over-by-pub-11535128 |
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Stephenchow
Veteran |
18-May-2019 08:39
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PUB also said then that it will keep employees with the relevant operational capabilities to run the desalination plant, and that it would facilitate a smooth transition. Employees at the waterplant should have a big relief now, out of the wood and the mess of the company and have a job till retirement if they want. Good for them, no longer need to worry about their jobs now. |
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Stephenchow
Veteran |
18-May-2019 08:33
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Troubled water treatment firm Hyflux has enough cash for two or three months following an aggressive cost-cutting regime, founder Olivia Lum said in court papers. The company should be out of cash or belly up by end of July or earlier.  Not sure what are those so called investors come for. Out of desperation, likely to accept whatever nonsense down the throat soon.    |
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Stephenchow
Veteran |
18-May-2019 07:54
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PUB takes over Tuaspring desalination plant from Hyflux
   
SINGAPORE - National water agency PUB has taken over the Tuaspring desalination plant from troubled firm Hyflux on Saturday (May 18). The transfer came after the water purchase agreement with Tuaspring was terminated on Friday. PUB said in a statement on Saturday that the move was " to safeguard Singapore' s water security" . It had said previously that it will keep employees with the relevant operational capabilities to run the desalination plant, and that it would " facilitate a smooth transition" .
The desalination facility is part of the Tuaspring Integrated Water and Power Plant that cost Hyflux $1.05 billion. Profits from the power plant were meant to subsidise the desalination plant' s running costs but lower electricity prices and operating losses from desalination operations sent Hyflux into debt. The firm filed for court protection to reorganise its debts in May last year. It had borrowings of $2.95 billion as at March 31 last year.
On Thursday, United Arab Emirates entity Utico said it had asked the PUB to delay the takeover as it was hoping to enter a deal with Hyflux to fix the operational and financial defaults at Tuaspring Integrated Water and Power Plant that Hyflux had failed to rectify.
The defaults, coupled with a failed $530 million rescue deal by Indonesian consortium SM Investments, resulted in PUB stepping in. Utico has offered to invest $400 million in Hyflux. Hyflux is also in talks with Mauritius-based multi-strategy investment firm Oyster Bay Fund, which could invest up to $500 million. A third suitor, said by Hyflux to be one of the world' s top 10 biggest desalination firms, has shown interest in acquiring certain Hyflux assets in the Middle East and North Africa. |
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lukewong82
Master |
18-May-2019 07:46
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BUT the billion debt is still there right??? how to be profitable when the billion of debt is still there?  
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Bkng595
Member |
18-May-2019 07:39
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Desal plant taken over by pub. Power plant taken over by maybank. The loss making TS now gone, the coy must be profitable now....😬 😬 😬 😬 😬 | ||||
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