The unfolding Hyflux saga is like a cheesy Taiwanese drama series – so bad that its good. Why is that so, if you may ask? After all, 34,000 investors had lost their life savings investing in Hyflux preference shares and perpetual securities. In my opinion, there are plenty of important lessons to be learned out of this fiasco. And Hyflux investors had better learn from this episode or it would be like throwing good money after bad.
From the implosion of Lehman Brothers’ Minibonds in 2009 to the toxic gold buy-back schemes to the outrageous Swiber junk bond defaults, Singapore had witnessed numerous investment tragedies. Some of the investment schemes were so downright ridiculous that you would be surprised many Singaporeans actually bought into