Press Statement: Time for virtual AGMs
February 27, 2020SIAS 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...
Read MorePress Statement: SIAS and its advisors will remain independent in the face of statements made to incentivise them to promote the Utico deal
February 21, 2020SIAS 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...
Read MorePress 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”)
February 4, 2020Utico 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. ...
Read MoreLetter to Hyflux Board – SIAS Queries Hyflux Board for P&Ps
January 13, 2020Board 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...
Read MorePress Statement: SIAS calls on Aqua Munda for more transparency
December 30, 2019We 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...
Read MorePress Statement: Offer by MEO to Bondholders
November 27, 2019SIAS 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...
Read MorePress Statement: Utico’s offer to Hyflux
November 26, 2019SIAS is pleased that a deal has been struck between Hyflux and Utico. We have always been against judicial management or liquidation which brings no benefit at all to retail investors, the P&Ps. When the first deal failed, many gave...
Read MorePress Statement: MAS Proposed Regulatory Approach for Derivatives Contracts on Payment Tokens
November 20, 2019SIAS notes that MAS proposes to regulate payment token derivatives contracts that are traded on Approved Exchanges in Singapore and will introduce additional measures for retail investors. SIAS has been noticing also interest from retail investors wanting to participate in...
Read MorePress Statement: Lack of finality on Utico’s offer – SIAS concerned
November 20, 2019SIAS has been closely monitoring the progress of the negotiations between Hyflux and Utico, the investor, in the last few months. SIAS is seriously concerned that there is no finality yet on Utico’s offer. SIAS is concerned that while Hyflux together...
Read MorePress Statement: SIAS clarifies UTICO’S Media Statements
September 29, 2019Clarifications to statements in the articles published in the Straits Times dated 28 September 2019 titled “Utico backs Hyflux debt moratorium extension” (“ST Article”); on CNA dated 27 September 2019 titled “Utico says it will support Hyflux’s moratorium extension...
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