Press Release

Press Statement – Hyflux Perps & Preps likely to avoid haircut in new plan

Ms Olivia Lum, Executive Chairman & Group Chief Executive Officer, Mr Teo Kiang Kok, Lead Independent Director, Mr Gay Chee Cheong, Non-Executive Independent Director, Mr Christopher Murugasu, Non-Executive Independent Director, Mr Lau Wing Tat, Non-Executive Independent Director, Mr Nicky Tan,...

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Press Statement – Patience and support needed

SIAS notes with regret the cancellation of Hyflux restructuring agreement with the Salim-Medco consortium (SMI). This has come as an unexpected development. I had called Olivia Lum to determine whether there is an alternative solution that can be presented to the...

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Press Statement – Board and Management not absolved of accountability

SIAS is aware that some Hyflux investors are of the view that if they were to vote “yes” for the restructuring, all investigations against the board and management of Hyflux would stop and they will never find out if, indeed,...

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Commentary: Hyflux saga: Focus needed despite the noise

First published in The Business Times on 30 March 2019 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...

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Joint Press Statement – SIAS and SID announce Guide on Best Practices for Shareholder Meetings

The annual general meeting (AGM) of a company is a time for the company’s board members, management and shareholders to interact. It is usually...

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Letter to PUB – Hyflux Restructuring

Chief Executive PUB 40 Scotts Road #22-01 Environment Building Singapore 228231 Attention: Mr Ng Joo Hee Dear Sirs, HYFLUX RESTRUCTURING SIAS represent the interest of the investors, particularly the retail investors of Hyflux, who are now in a predicament, the possibility of the company facing liquidation. The only hope...

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Letter to Hyflux Board – Status of Hyflux restructuring

Board of Directors Hyflux Ltd Hyflux Innovation Centre 80 Bendemeer Road Singapore 339949 Attn: Ms Olivia Lum Dear Board Members, RE: Status of Hyflux restructuring Hyflux investors are seriously concerned arising from the current uncertainty caused by PUB’s notice of default, recent SMI’s notice to Hyflux and...

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Letter from Hyflux Board to SIAS – HYFLUX RESTRUCTURING

Reply from Hyflux to SIAS Alternative Proposal on 27 February 2019 Mr David Gerald President and CEO Securities Investors Association (Singapore) 7 Maxwell Road #05-03 MND Building Annexe B Singapore 069111 Dear Mr Gerald, RE: HYFLUX RESTRUCTURING We refer to your letter dated 27 February 2019 in respect...

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Letter to Hyflux Board – SIAS Alternative Proposal

The Hyflux board was handed the attached letter by me at a meeting with the Board yesterday afternoon. The Board informed me that in response to our letter, it will be taking action, through its advisors, to talk to the...

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Press Statement – SIAS meeting with CAD and MAS on Midas

SIAS officials met with officers from the Commercial Affairs Department (CAD) and Monetary Authority of Singapore (MAS) on 13 February 2019 to relay the concerns of Midas’ shareholders, who are anxious about the outcome of the police reports lodged with...

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