Hyflux

To add:

Hyflux has some preference shares with voting rights and liquidation preference after the spinoff.

Today is the last day for cum-rights.

(Not vested)

Seems the CEO got herself a bad deal and the common shareholders got a great deal.
Usually , the dividend is only $0.0025 abouts...now they get $0.01783.( 0.1783/10)..thats a lot more !

CY09, Thanks, thanks for taking time to elaborate it in such a detail, especially in an English that a layman like me can understand. Thank you very much.


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(02-02-2018, 07:19 PM)sgdividends Wrote: Seems the CEO got herself a bad deal and the common shareholders got a great deal.
Usually , the dividend is only $0.0025 abouts...now they get $0.01783.( 0.1783/10)..thats a lot more !

Really Puzzling. What is she up to or did she really badly advised ....

Even that business I find it doubtful....prospects.

Guess she is really vested into hyflux now...hope she bucks up and push her managers to execute properly

http://infopub.sgx.com/FileOpen/Hyflux%2...eID=490363

Based on Hyflux Full year results, excluding TuasSpring, its entity is already making accounting losses and even perhaps is cash flow negative. Hyflux mgmt desperately needs to make its oeprations cash flow generative for the company to be viable.

On the CPS front, Hyflux has perhaps made it clear that only after the divestment of Tuas Spring would they then redeem the Perps. This means it is likely for the Dividends to step up to 8% and the divestment of Tuas spring will be key. It looks like Hyflux plans to continue paying out dividends to perps and ordinary shareholders

Initially it was leaking....
Now it looks like it is sinking.....
Since Tuas Spring is bleeding quite heavily, if sold most likely to be lower than book.

Good time to really look at the company seriously if one is vested either in shares or convertibles

http://www.businesstimes.com.sg/companie...ted-hyflux

"Hyflux aimed to partially divest up to 70 per cent of Tuaspring water desalination and power plant last year, but has not. Tuaspring is held on its books at a value of S$1.3 billion.

Chief executive and chairman Olivia Lum told a results briefing on Tuesday evening: "The last thing we want is a fire sale. We believe that we have a good asset, we have a good track record, still have a brand name. Why are we cornered? We know what we are doing."

the performance of the asset speaks for itself.

How does companies account for their order books in the financial statement ?

Hyflux has about 2.6 billion of order book latest.

And how fluffy is order book ? How much commitment must be made by the customer before a company can declare it in their order book? Is there a standard definition ?

I am not an expert in hyflux operations but i would suggest not taking the book value of hyflux too seriously. (Look at noble, look at how management has been defending its assets on the balance sheet for the past few years, and how they have taken writedown again and again.) Everyone knows that Tuasspring is not making money, it is a fact already, so who will want to buy it at book value? I cant understand who will pay it for book value. Even if Temasek wants to privatise it, the gahmen will also be worried about opposition using it as a good reason to shoot them for using taxpayers money to bail out a company with terrible economics.

And so i will be very blunt here, apologies to those that are vested. If tuasspring cant be sold for book value, i feel that the company is worthless, shareholders will get back almost nothing, even preference shareholders will have to take a loss at today's price of 72 cents. Hyflux is still selling at 27-28 cents today, i think it is way too high, it should be selling at single digit. If current shareholders of hyflux think the company stand a chance of survival, i think they should just sell the mother shares and buy the preference shares or Perpcapsec.

Not vested at all. Just waiting to see how the company can find a way to survive