COMMENTARY

Hyflux saga: Judicial management not the panacea for company's restructuring

IT is almost exactly one year since water treatment firm Hyflux applied for a moratorium while it sought to restructure its finances. A crucial part of that restructuring process involved finding a suitable "white knight" investor who could inject much-needed cash into a business that although...

COMMENTARY

Can the Hyflux restructuring be resurrected?

IT was hugely disappointing to learn last week that troubled water treatment firm Hyflux Ltd has terminated its agreement with SMI, the only white knight that has emerged over the past year with funds to help Hyflux. Ever since SMI announced its S$530 million rescue package last October, Sias...

COMMENTARY

Hyflux saga: Focus needed despite the noise

IN the past few months, developments surrounding troubled water treatment firm Hyflux Ltd have accelerated to the point that stakeholders could be forgiven for being thoroughly confused as to the status of the restructuring that has been proposed, whether white knight investor SM Investments (...

COMMENTARY

Best armour against risk is an informed investor

THE collapse of water treatment firm Hyflux Ltd has raised many important questions, not least of which is whether retail investors who ploughed millions into the company's perpetual securities and preference shares truly understood the risks of what they were buying. Given our close and...

COMMENTARY

Hyflux should be given chance to survive amid restructuring

THE annals of Singapore's corporate history are filled with the names of companies that went bankrupt and had to be liquidated, much to the dismay of their shareholders and creditors. From Pan-Electric in the mid-1980s to the S-chips of the mid-2010s, many of these companies were badly...

COMMENTARY

LTC minorities should not hold out for SGX's proposed changes

SOMETIMES the best of intentions can lead to unintended outcomes.

Independent financial advisers can no longer hedge their bets when giving opinions

IN RECENT months, property firm Wheelock Properties and Norwegian shipyard Vard Holdings were subject to privatisation offers that involved seemingly confusing and possibly contradictory advice from the respective Independent Financial Advisers (IFAs) to their boards. If IFAs are to properly...

Harmony needed to achieve best results at AGMs

FOR shareholders of listed companies, the Annual General Meeting (AGM) offers a once-a-year opportunity to meet the company's directors and managements, and to ask questions about the state of their investments. There is no denying the value of such face-to-face encounters, which often can...

Where is Hyflux now?

IN June, the Securities Investors Association (Singapore) (SIAS) appealed to stakeholders of troubled water treatment firm Hyflux to give the company the time it needs to try and get its affairs in order ("Saving Hyflux: Stakeholders, patience is vital now", BT, June 18, 2018)....

SIAS' 9TH CORPORATE GOVERNANCE WEEK

How might the Code be tweaked the next time?

THE Singapore Code of Corporate Governance (SCCG) last month underwent its third revamp since it was first introduced in 2002. Throughout the past 16 years, these revamps have been aimed at adapting the Code to suit changing circumstances and to fit the best practices in other developed markets...