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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)
"... but quitting while you're ahead is not the same as quitting." - Quote from the movie American Gangster
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02-02-2018, 07:19 PM
(This post was last modified: 02-02-2018, 07:21 PM by sgdividends.)
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 !
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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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Guess she is really vested into hyflux now...hope she bucks up and push her managers to execute properly
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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
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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 ?
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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