I actually do not want to post any more topic on Hyflux as this subject has become very sensitive lately and stir up much negative feelings with the upcoming voting on creditor restructuring. But being an ex-auditor, I seriously think that our Singapore Authorities should re-look into the asset valuation framework and standard for all Singapore Companies listed on SGX so as to better protect retail investors. In June 2018, Tuaspring carrying book value was SGD 1.47 Billion. This plummeted by SGD 916Mil within half a year for the results released as at 30 September 2018. The key question is how can the valuation of Tuaspring just nosedive overnight? The weakness over the electrical tariff is a recurring issue since day one of Tuaspring operation. So, why was there no major impairment then but only took a big bath at this juncture? According to the accounting standard, an impairment...