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Lehman Bonds are no Hyflux Bonds – An Opinion

“I get emails from a raccoon, so nothing sounds crazy.”  —Natasha Romanof (Avengers:Endgame 2019) Disclaimer: I am not an investment advisor or lawyer. 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 guess reading a column by Straits Times Deputy Night Editor, Dennis Chan, sounds crazier to me. At the...

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Spotlight on the Singapore Regulators ( Hyflux Case) – SGX, MAS

Disclaimer: I am not an investment advisor or lawyer. 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. On 12 June 2018, i sent an enquiry email to Singapore Exchange (SGX) , Monetary Authority of Singapore ( MAS) and Securities Investors Association (Singapore) SIASĀ  on whether there were any grounds for...

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Protection of Retail Investors in Singapore – Noble and Hyflux – An Opinion

Disclaimer: I am not an investment advisor or lawyer. 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. “……The SGX and MAS have proven themselves incapable and impotent while greed has blinded the vast array of financial intermediaries who have enabled this tragedy. While I remain open to being proven wrong,...

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The Liquidation of California Fitness and the case of Hyflux

California Fitness In a Straits Times article on California Fitness, the liquidators said ,in their view, that there was a “fundamental failure” in the conduct of the companies directors, management and auditors to prudently and reasonably assess the veracity of the financial position of the company. California Fitness had accumulated losses as early as 2013, yet the auditor did not raise red flags. Instead, its financial statements were  prepared on the basis of ongoing concern which assumes the company will remain solvent and operational indefinitely until proven otherwise. The auditor also issued an unqualified opinion despite the company’s poor...

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How Effective are SGX Listing Rules Really ? – Hyflux

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. The ” white knight” may not rescue the princess after all.On 18 March 2019, Hyflux issued an announcement with the following paragraph: “Hyflux Ltd or Tuaspring Pte Ltd ceasing or threatening “to cease for any...

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Just what is Considered True and Fair? – Hyflux

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. On 16 February 2019, Hyflux uploaded a court affidavit. In it, information about key projects were highlighted. It came as a surprise that three of the key projects was last audited on Dec 2016. Of...

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The Illusion of High,Recurring Profits and Low Debt – Hyflux

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...

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When Exactly Did Tuaspring’s Operational Problems Start? – Hyflux

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. When PUB is asked about Tuaspring’s water capacity in relation to operational defaults and you are given such an answer. You know you are not dealing with a “commerical decision”  anymore.   It came as a...

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The Wrong Impression of the Revised Offer – Hyflux

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 think i have to correct the wrong impression that some people may have: that PnPs and unsecured banks/MTNs are sharing on a pro rata basis any of the upside that will happen if contingent...

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Why I Am Still Voting No To The Revised Offer – Hyflux

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. On 8 March 2019, an improved offer to the retail perpetual and preference (PnP) holders was out. Read here. Straits Times wrote that the PnP holders are now able to get up to 7.4% in cash,...

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The Curious and Disturbing Default Notice of PUB – Hyflux

Created by an anonymous person, not me, who shared in the Hyflux Retail Telegram group. PnP refers to the perpetual and preference share holders. 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. Desalination is one of the 4 National Taps of Singapore. The...

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The Failure of the much touted Public-Private-Partnership Model in Singapore – Hyflux

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. In 2004, the Ministry of Finance undertook a public consultation to seek views about the Public-Private-Partnership model. This initiative took root based on the studies about the successes of the PPP model in countries including...

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The ” not spoken much” dirty little thing about the Restructuring Proposal – the $82 million – Hyflux

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 think there is a psychological play going on here. It seems mostly everywhere is showing a 24.7% recovery to the unsecured banks ( meaning for every $100, they will get back $24.7). It is...

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On Why the Rich get Richer and the Poor get Poorer – The Hyflux Proposal Is Out!

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. In the vain attempt to make an emotional connection to the retail investors so that we would more likely accept her proposal, this woman called Olivia Lum says “she is deeply saddened”. And as an...

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Why Did So Many Singaporeans Invest in Hyflux – The Positive Image Illusion

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. The Genesis of the Positive Perception of Hyflux 1) Olivia nominated as member of the Corporate Governance Council of Singapore – playing an advisory role to MAS, ACRA and SGX From MAS Website, published in 2010...

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