Press Release

Press statement: Questions from SIAS and shareholders of Sembcorp Industries (SCI) and Sembcorp Marine (SCM) answered by the respective Boards

Attached please find the response from Sembcorp Industries (SCI) and Sembcorp Marine (SCM) to SIAS’ questions regarding the proposed renounceable underwritten SCM rights issue and proposed distribution in specie of shares of SCM. We also attach the questions raised by...

Read More

Press Statement: SIAS does not endorse any deal; calls on Utico to put proposal acceptable to all creditors

We refer to the Business Times article “Utico seeks Sias endorsement as Hyflux judicial management looms” dated 29 July 2020. SIAS wishes to clarify that SIAS’ role is to facilitate communication between the relevant stakeholders and the P&P Holders, and to...

Read More

Press Statement: Carve out application

SIAS notes the decision of the Court today to allow the UWG’s application for a carve out of the moratorium. This essentially allows the UWG to proceed to make the JM application. This does not necessarily mean JM is inevitable as...

Read More

Commentary: Hyflux’s PnP holders still waiting for concrete terms: Sias

First published in Business Times on 27 July 2020 MORE than two years after water treatment firm Hyflux announced it was in dire financial straits and unable to meet its debt obligations, the market is still no wiser as to what...

Read More

SIAS clarifies comments made by Mr Johnny Widjaja

I refer to the article “Potential Hyflux investor Johnny Widjaja says funds earmarked for deal; will address PnP holders” SIAS would like to clarify that although it was reported in the article that “Mr Widjaja engaged with SIAS over the subordinated...

Read More

Press statement: SIAS raises concerns over potential Hyflux offers

Over the past two weeks, Hyflux has made announcements on receipt of letters of interest and/or offers made by new potential investors, namely, Pison Investments Pte Ltd (”Pison”) and Unilegend Investments Pte Ltd. Previously, Aqua Munda Pte Ltd (“Aqua Munda”) had...

Read More

Press Statement: Questions to Sembcorp Industries and Sembcorp Marine on EGM for – Sembcorp Industries and Sembcorp Marine proposal for $2.1b recapitalisation of Sembcorp Marine and demerger to focus companies on their growth segments

To: Sembcorp Industries Ltd Attn: Mr Wong Kim Yin, Group President & CEO Sembcorp Marine Ltd Attn: Mr Wong Weng Sun, President & CEO Questions to Sembcorp Industries and Sembcorp Marine on EGM for - Sembcorp Industries and Sembcorp Marine proposal for $2.1b recapitalisation of...

Read More

Press statement: Aqua Munda meets SIAS to inform about an impending offer for P&Ps

Aqua Munda have reached out to SIAS on 8 June 2020 to inform us that they are prepared to make an offer to the P&Ps of Hyflux. They informed us that the purpose of the meeting was to understand the...

Read More

Press Statement: Great concern for P&Ps over Hyflux Director’s probe

A number of P&Ps have contacted SIAS to express their serious concerns about the current state of affairs at Hyflux. SIAS notes also with utmost serious concerns of the press reports that the company and some of its directors are...

Read More

Press Statement: Utico’s revised offer – a bombshell for P&Ps

We refer to Hyflux’s announcement on 27 May 2020 enclosing Utico FZC’s (“Utico”) letter dated 26 May 2020 (“26 May Letter”). SIAS understands Utico’s position to be that, because Utico’s deadline of 26 May 2020 (“Long-Stop Date”) has passed without, among...

Read More