SIAS clarifies comments made by Mr Johnny Widjaja

Date: 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 creditors”, SIAS’s meeting with Mr Widjaja was much more in the nature of an introductory courtesy call by Mr Widjaja on SIAS without discussion of detailed terms. Mr Widjaja also did not propose any terms for the P&P holders during the meeting. While SIAS is happy to meet with interested investors, SIAS strongly repeats its earlier call that any proposal by investors must include a firm offer for P&P holders and that the P&P offer terms should be made public as soon as possible for P&P holders’ consideration.


David Gerald
Founder, President & CEO