Press Statement – About time Olivia Lum steps down and Hyflux needs to build trust
April 25, 2019It is now evident that the trust in the senior management and the board of Hyflux has weaned considerably. Understandably, stakeholders are getting tired of waiting for a concrete plan that would take the company out of its current woes...
Read MorePress Statement – Hyflux Perps & Preps likely to avoid haircut in new plan
April 22, 2019Ms 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,...
Read MorePress Statement – Patience and support needed
April 4, 2019SIAS 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...
Read MorePress Statement – Board and Management not absolved of accountability
April 1, 2019SIAS 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,...
Read MoreJoint Press Statement – SIAS and SID announce Guide on Best Practices for Shareholder Meetings
March 26, 2019The annual general meeting (AGM) of a company is a time for the company’s board members, management and shareholders to interact. It is usually...
Read MoreLetter to PUB – Hyflux Restructuring
March 26, 2019Chief 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...
Read MoreLetter to Hyflux Board – Status of Hyflux restructuring
March 25, 2019Board 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...
Read MoreLetter from Hyflux Board to SIAS – HYFLUX RESTRUCTURING
March 8, 2019Reply 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...
Read MoreLetter to Hyflux Board – SIAS Alternative Proposal
February 28, 2019The 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...
Read MorePress Statement – SIAS meeting with CAD and MAS on Midas
February 20, 2019SIAS 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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