Author: SGDividends

What did the founder/CEO/Chairwoman do to help Hyflux through the years?

As stated in my previous post, Hyflux sold $400 million preference shares (N2H) in 2011 to unsophisticated retail investors whom among them are retirees who used their CPF or SRS. After which,  Hyflux conducted a series of massive sharebuybacks starting in 2011 all the way to 2015 (except in 2013). In 2016, sold another $500 million perpetual securities (BTWZ) to, again, retail investors. In total, a grand total of about $900 million in such securities. All this done within a capital intensive industry structure. Disclaimer: I am not an investment advisor. Heck, i am not even working in the...

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What did the founder/CEO/Chairwoman do to help Hyflux through the years?

As stated in my previous post, Hyflux sold $400 million preference shares (N2H) in 2011 to unsophisticated retail investors whom among them are retirees who used their CPF or SRS.After which,  Hyflux conducted a series of massive sharebuybacks starting in 2011 all the way to 2015 (except in 2013). In 2016, sold another $500 million perpetual securities (BTWZ) to, again, retail investors. In total, a grand total of about $900 million in such securities. All this done within a capital intensive industry structure. Disclaimer: I am not an investment advisor. Heck, i am not even working in the financial...

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The Very Curious Case of sharebuybacks – Hyflux

In my previous posts, i wrote what management of other companies proactively did to try to save the sinking ship. Ezion – Proactively issued rights to access capital – A drastic reduction in management compensation and doing more with less people – Usage of family and personal assets as a collateral to gain more funds for the company – Acceptable terms for perpertual securities holders ( Accreditated investors) Tiger Air – Proactively issued rights to access capital – Capital injection by parent company – CEOs who were changed along the way ( ok i didn’t write this in my...

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The Very Curious Case of sharebuybacks – Hyflux

In my previous posts, i wrote what management of other companies proactively did to try to save the sinking ship.  Ezion – Proactively issued rights to access capital – A drastic reduction in management compensation and doing more with less people – Usage of family and personal assets as a collateral to gain more funds for the company – Acceptable terms for perpertual securities holders ( Accreditated investors) Tiger Air – Proactively issued rights to access capital – Capital injection by parent company – CEOs who were changed along the way ( ok i didn’t write this in my...

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A happy ending for retail perpertual securities – Tiger Air and Hyflux

What happened to actual retail perpetual securities holder in beleaguered local listed companies? In my previous posts, the perpetual securities holders were not retail ones, but generally accredited ones who traded in the wholesale market. As of now, i can only think of Tiger Air which was delisted in 2016. 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...

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A happy ending for retail perpertual securities – Tiger Air and Hyflux

What happened to actual retail perpetual securities holder in beleaguered local listed companies? In my previous posts, the perpetual securities holders were not retail ones, but generally accredited ones who traded in the wholesale market. As of now, i can only think of Tiger Air which was delisted in 2016. 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...

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Hyflux – loans and borrowings – A noob/layman’s interpretation – Pacific Radiance

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. Actually, i think i learnt a lot during this episode. A person will not have the motivation to read in detail the annual report unless sh**t hits the fan. But without reading in detail, there...

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Hyflux – loans and borrowings – A noob/layman’s interpretation – Pacific Radiance

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. Actually, i think i learnt a lot during this episode. A person will not have the motivation to read in detail the annual report unless sh**t hits the fan. But without reading in detail, there...

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Hyflux – Treatment of perpetual holders by Ezion

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. I don’t like to speculate what will happen. I guess it wouldn’t be totally nonsensical to look at what happened to perpetual holders in the case of Ezion. Now, it should be noted that Ezion...

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Hyflux – Treatment of perpetual holders by Ezion

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. I don’t like to speculate what will happen. I guess it wouldn’t be totally nonsensical to look at what happened to perpetual holders in the case of Ezion. Now, it should be noted that Ezion...

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Will Hyflux recover – the billion dollar question

I believe some investors are still in the state of numbness, while many others still believe that Hyflux is different from Noble  as Hyflux hold hard assets with strategic relevance to Singapore. Many others may not even know their investments are in trouble, especially those retirees. How am i affected?I don’t know frankly because i am still sleeping fairly well, but i am posting pretty fervently and finding out more. Its weird. I don’t understand myself…maybe it hasn’t sunk in. I don’t know. But i certainly hate to lose money. Anyway, is this a cashflow problem for Hyflux that...

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Will Hyflux recover – the billion dollar question

I believe some investors are still in the state of numbness, while many others still believe that Hyflux is different from Noble  as Hyflux hold hard assets with strategic relevance to Singapore. Many others may not even know their investments are in trouble, especially those retirees. How am i affected?I don’t know frankly because i am still sleeping fairly well, but i am posting pretty fervently and finding out more. Its weird. I don’t understand myself…maybe it hasn’t sunk in. I don’t know. But i certainly hate to lose money. Anyway, is this a cashflow problem for Hyflux that...

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Hyflux – where we stand

I think at this point of time, it would be good to know how much vested interest there is among the key stakeholders in Hyflux to help the preference shareholders ( N2H), perpetual shareholders (BTWZ)  and the ordinary shareholders (600). It would also be good to know as a really rough gauge, how many people are affected. I should make it clear that this number is just a very rough ball park figure because some of the securities( N2H, BTWZ, 600) are held in nominee accounts which can hold for many different shareholders, information is based on public available...

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Hyflux – where we stand

I think at this point of time, it would be good to know how much vested interest there is among the key stakeholders in Hyflux to help the preference shareholders ( N2H), perpetual shareholders (BTWZ)  and the ordinary shareholders (600). It would also be good to know as a really rough gauge, how many people are affected. I should make it clear that this number is just a very rough ball park figure because some of the securities( N2H, BTWZ, 600) are held in nominee accounts which can hold for many different shareholders, information is based on public available...

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The fate of Hyflux

Disclaimer: I am writing as a layman who do not work in this industry. What i write is what i read and interpreted. I am a noob. The poster child of Singapore has runned into difficulties. So what led to its fate? It has been stated that Tuaspring is the one that broke Hyflux due to the excess capacity in the local electricity market. Hyflux is unable to sell Tuaspring at book value due to losses, so she is unable to repay creditors, suppliers and other securities. So why is there excess capacity in the local market in first...

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