Press Releases

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

July 30, 2020

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...

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Press Statement: Carve out application

July 27, 2020

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...

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SIAS clarifies comments made by Mr Johnny Widjaja

July 21, 2020

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...

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Press statement: SIAS raises concerns over potential Hyflux offers

July 19, 2020

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...

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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

July 14, 2020

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...

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

June 9, 2020

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...

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

June 3, 2020

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...

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

May 28, 2020

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...

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Press Statement: Dialogue session between SIAS and CEO, Mr Goh Choon Phong of SIA on SIA’s Rights Issue

May 13, 2020

Many SIA shareholders have contacted SIAS to question the rationale for the large cash call that SIA is making with the 3 for 2 shares rights issue and the mandatory convertible bonds (MCBs) rights issue. SIAS has reached out to...

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Responses from SIA to SIAS – Questions for SIA’s EGM

April 24, 2020

Reply from SIA to SIAS Questions for SIA’s EGM published on 22 April 2020 1. Why is SIA raising such a large amount? How did you determine this amount? The COVID-19 pandemic has led to a global collapse in the demand for...

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