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The Illusion of High,Recurring Profits and Low Debt – Hyflux
By The Simplified Resource For Investing and Personal Finance  •  March 16, 2019
Disclaimer: I am not an investment advisor. Heck, i am not even working in the financial industry. Below are my interpretation and i am grateful if you will let me know if anything i say is wrong and i will correct it in a reasonable time. I am not an expert and don't wish to be assumed to be one. I make losses frequently.
Another anonymous Telegram member shared the article " Total Compliance in Financial Reporting, But is it misleading?"

In summary, i think this article can be distilled into 3 points:

An illusion of recurring, steady profits is shown as Hyflux is allowed to recognise financial receivables/intangible assets as profits over the 20 to 30 year concession period. This has the effect of "smoothening" the profits. However, this had no link to cashflow. Since the cash payments of Preference and Perpetuals (PnPs), which are actually financial liabilities, can be deferred...
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By The Simplified Resource For Investing and Personal Finance
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