A lot has been said about the Hyflux saga thus far, and if its investors have their say, they would be talking till the cows come home, even if the barn is now empty and the cows have bolted into the sunset.
In fact, there is even going to be a planned protest by retail investors tomorrow at Hong Lim Park, whereby the objective is to appeal to the Public Utilities Board (“PUB”) to reconsider its intention to takeover the Tuaspring Desalination Plant (“Tuaspring”) at donut.
Well I suppose even Tuaspring can’t desalinate any bit of saltiness these investors have. After all, this is an even worse proposition than having potential investor SM Investments (“SMI”) come into the picture, where the retail perp and pref shareholders will get a max of 10 cents on the dollar for recovery.
My personal view is that the latest move by PUB is borne out of protecting