Press Release

Commentary: Considering the FLT-FCOT merger holistically

First published in Business Times on 7 March 2020 There should be a balance between the interests of both sides, especially when it is a merger of equals which have done well The consolidation in the S-Reits market that began two years...

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Letter to Hyflux Board dated 5 March 2020: Outstanding queries

Dear Members of Hyflux Board, We refer to our email dated 13 January 2020 (timestamped 3:29pm) and your email dated 19 February 2020 (timestamped 7:19pm). A: Outstanding queries...

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Letter from Hyflux Board to SIAS – Queries relating to the Utico Offer

Reply from Hyflux to SIAS Queries Hyflux Board for P&Ps on 13 January 2020 Dear Mr. Gerald, Thank you for your letter dated 13 January 2020, with reference to which this mail is sent on behalf of the Board of Directors (“Board”)...

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Press Statement: Time for virtual AGMs

SIAS welcomes the decision by SGX RegCo and ACRA to allow companies to postpone AGMs up to 30 June 2020 due to concerns about large-group meetings amid Covid-19. This is in response to concerns by shareholders who want to participate...

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Commentary: Covid-19: Important that retail investors do not panic

First published in Business Times on 22 February 2020 Markets trade on fundamentals over the long run so holding on to your positions makes the most sense The Covid-19 virus outbreak has complicated an investment scenario that was already difficult to read....

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Press Statement: SIAS and its advisors will remain independent in the face of statements made to incentivise them to promote the Utico deal

SIAS refers to the letter from Utico FZC’s (“Utico”) dated 28 January 2020 which was enclosed in an announcement made by Hyflux Ltd on the same day (the “Letter”). In the Letter, Utico refers to the monies it will contribute...

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Press Statement: Clarification on certain points raised at Utico FZC’s (“Utico”) town hall session for the holders of the perpetual securities and preference shares (“P&P holders”) held on 20 January 2020 (“Utico Townhall”)

Utico Townhall SIAS refers to the Utico Townhall meeting held on 20 January 2020. Certain statements were made at the Utico Townhall by the Utico team, which were either different from what SIAS understands the position to be or require clarification. ...

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Letter to Hyflux Board – SIAS Queries Hyflux Board for P&Ps

Board of Directors Hyflux Ltd Hyflux Innovation Centre 80 Bendemeer Road Singapore 339949 Dear Members of Hyflux Board, SIAS Queries Hyflux Board for P&Ps We have received a number of emails from members of the P&P ISC expressing their dissatisfaction with the Utico deal as currently proposed...

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Press Statement: SIAS calls on Aqua Munda for more transparency

We refer to Hyflux’s announcement on the SGX-ST dated 27 December 2019, disclosing Aqua Munda’s invitation memorandum dated 27 December 2019 (“Invitation Memorandum”). Aqua Munda has proposed to medium term noteholders and senior unsecured creditors of Hyflux...

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Press Statement: Offer by MEO to Bondholders

SIAS refers to the announcement by Miclyn Express Offshore Pte Ltd (MEO), on 20 November 2019, that it has improved the Early Bird Bonus terms as referred to in its Townhall Presentation dated 20 September 2019, after discussions with its...

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