Hyflux: Good Friday cruxification

Christ and the two thieves were not the ones crucified yesterday.

Yesterday (yes on a public holiday), Hyflux said that MayBank had decided to appoint receivers and managers over the assets of Tuaspring, except for the desalination plant and shared infrastructure, and not to extend an agreement whereby it would not enforce its rights over Tuaspring to allow Hyflux to time to conclude a binding agreement with a successful bidder or investor for the plant. The agreement had been extended several times and expired on 16 April.

The integrated asset’s desalination plant is set to be taken over by PUB at zero dollars in May, after PUB issued a notice to Hyflux on 17 April to terminate the parties’ water purchase agreement.

But Hyflux is not dead. It’s juz hanging onto life on a cross

Hyflux said the termination of the collaboration agreement “is expected to have a material impact on the financial performance of the group”.

In the interim, the power plant at the Tuaspring integrated facility is expected to continue operations as usual, it added.

Read more at https://www.channelnewsasia.com/news/business/sm-investments-moves-to-terminate-hyflux-rescue-deal-in-11460852

Btw, can’t stop laughing:

Hyflux said the termination of the collaboration agreement “is expected to have a material impact on the financial performance of the group”

The “financial performance of the group” is one fat zero before this event.

Further reading:

Hyflux: Sue those with money

Hyflux: “going concern” BS/ KPMG again and again

Hyflux on investor losses: “Not our fault, banksters at work”

 

 

Cynical Investor

Cynical Investor blogs at Thoughts of a Cynical Investor

 

 

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14 Responses to “Hyflux: Good Friday cruxification”

  • LIONS:

    Oh well,HyFLUX just becomes hyCRUX?

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  • Flinstone:

    Is May bank going to place big stone

    Boulder outside kallang hyflux.?

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  • patriot of TUMASIK:

    From Race to Religion…what NEXT CI you cynical piece of SHIT!!!

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  • So ..... .... ?:

    So …. Mr TKL or Mr GMS , Will there be another gathering Hyflux 2.0 at HLP ?

    As Mr Roy highlighted, chopsticks muz unite.

    Looks bleak ?

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  • report ci to police:

    patriot of TUMASIK:
    From Race to Religion…what NEXT CI you cynical piece of SHIT!!!

    we are watching. He was caught racist once in TRE. before we could take a picture and report to police, the posting was removed.

    now we are prepared. the moment there is a post we can report to police, we do so. we are very free. being citizens with no job we just sit and wait for Ljs like ci to post racist stuff and take picture and report to police.

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  • HarderTruths:

    Remember good people of TRE – this is just ONE company that got caught with its pants down. There are many many more just like it.

    The truth will only come out when some major economic crisis reveals these zombie companies and that those citizens invested in them have just given their hard-earned money to the government. Again.

    So 70% – why so scared to VTO? Sooner or later your money will be taken by them.

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  • Regime change is the solution:

    Why did MAS allow Hyflux to sell “junk securities” to the public? Never learned the lesson from the sale of Lehman Minibonds to the public.

    The only “good result” of the Hyflux saga is at least 34,000 more votes for the Opposition at the coming GE.

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  • Guess:

    @@@ The only “good result” of the Hyflux saga is at least 34,000 more votes for the Opposition at the coming GE

    Could be reverse ?
    They need help from Pap or mp so instead vote for them ?

    GD Star Rating
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  • Deplorablly Dafts:

    Hahaha….These guys thought TRE readers are like them, fools.

    Hypocritically, behaved like ‘good’ Samaritan on the outside.
    Now DIAM DIAM as more cans of worms are opened. Let’s see whether he lose his deposit again. Pretend to garner for support where actually no one cares about their antics…..

    So ..... .... ?:
    So …. Mr TKL or Mr GMS , Will there be another gathering Hyflux 2.0 at HLP ?

    As Mr Roy highlighted, chopsticks muz unite.

    Looks bleak ?

    Looks bleak ?

    GD Star Rating
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  • Cynical Investor:

    report ci to police:U can go to https://atans1.wordpress.com/2019/03/12/watain-ban-playing-the-easily-offended-game-can-backfire/

    Contrary to the lies u tell, it’s been there since the day I published it.

    Go send it to the police if u got balls. LOL

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  • Boh Chee = Human Nature:

    Report police ?

    Unlikely , roy’s article already said it. “Why are they so stupid to get into trouble? Why can’t they do things in other ways?”

    Besides if reported CI show face , this reporter also has to show face.

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  • Python 5:

    those SG savings bonds, SIA bonds… IMO, are toxic beyond imagination. stay away!!!!!

    HarderTruths:
    Remember good people of TRE – this is just ONE company that got caught with its pants down. There are many many more just like it.

    The truth will only come out when some major economic crisis reveals these zombie companies and that those citizens invested in them have just given their hard-earned money to the government. Again.

    So 70% – why so scared to VTO? Sooner or later your money will be taken by them.

    GD Star Rating
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  • Python 5:

    simple. PAP MPs will tell them to vote for PAP so they can fight for their lost investment… after winning the election, they just walked off and say: sorry, top ppl say no bailout.”
    and 70% will fall for this!!!

    Guess:
    @@@ The only “good result” of the Hyflux saga is at least 34,000 more votes for the Opposition at the coming GE

    Could be reverse ?
    They need help from Pap or mp so instead vote for them ?

    GD Star Rating
    loading...
  • pap double standard:

    Report police?

    No. It must be a trap since pap takes care of own such as pap PA paid IBs.

    Moreover cannot trust anything pap or pap PA paid IBs. They tell lies like eating breakfast. Better to avoid. But may their balls rot.

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