Hyflux Management

Reports Nine Month 2019 Net Earnings of $438 Million, EBITDA of $1,314 Million; CF Industries Holdings, Inc. The announcement follows the $110. 7%, under the company's newly announced restructuring proposal. NEA's latest move is designed to trigger creditor banks to call for management change. These “policies have developed an expertise in water management that has spawned a host of profitable companies” (Chowdhury, Singapore's All Wet- TIME, 2009) and one of the major companies in this industry is Hyflux. 8 per cent perps two years after they were issued to accredited investors. Completion Of Sale And Purchase Agreements In Relation To Sale Of Units Of Hyflux Water Trust By Hyflux Water Projects Ltd And Hyflux Water Trust Management Pte. The Business current operating status is live with registered address at HYFLUX INNOVATION CENTRE. DBS is the sole lead manager and bookrunner. The following day, Olivia Lum confounded investors by announcing the termination of a key restructuring plan with white knight, Salim-Medco consortium SM Investments. The Company's portfolio includes water treatment plants, wastewater treatment plants, water recycling plants. 4 million, and employs over 1,200 staff in China, India, the Middle East and North Africa region as well as Singapore and Southeast Asia. These banks now want to effectively drive the current Hyflux management out of the process. The applications, filed by Hyflux and three of its subsidiaries, will be heard at the upcoming case management conference scheduled on Aug 2 - the day its court-approved protection from creditors will expire. Hyflux Salaries trends. "All of these amounts will only be distributed to the project staff responsible for the extinguishment of the contingent claims," Hyflux said. He said the Hyflux board was holding back over issues such as advisors fees, board representation and management oversight. Keppel Infrastructure Fund Management, which holds the remaining 70%, has "buyout rights" to this project; Hyflux has assured its partner KIFM that SingSpring won't be affected by the restructuring deal. Hyflux has five board committees - audit, nominating, remuneration, risk management and investment. Hyflux Water Trust Management Pte. Working location near to mrt, lots of eateries and neighborhood shops Management Consulting. But analysts say such market volatilities should have been factored in by the firm's management. View harish kawade’s profile on LinkedIn, the world's largest professional community. , the embattled Singapore water-treatment and power company, is in advanced talks with at least two potential investors about taking a strategic equity stake in the group as part of a. In fact, the perpetual securities were so oversubscribed that Hyflux expanded the offering to $500 million. To Galaxy Newspring Pte. It did not give any details of the agreement signed. is an investment holding company, which engages in providing water and energy solutions for communities and industries. (Bloomberg pic) Singapore’s Hyflux Ltd, the water and power company battling for survival, said it is in talks with. The real trouble-maker is Hyflux's management because they created fake accounts, lied repeatedly and rejected initiatives from NEA after going to bed with Indonesians. Minister Masagos on Hyflux's challenges with Tuaspring desalination plant - Duration: Classroom Management Strategies To Take Control Of Noisy Students - Duration: 10:33. It is proven that the Hyflux management is very fearful of JM. The property is a 10-storey high specifications building with good corporate image. The Business current operating status is live with registered address at HYFLUX INNOVATION CENTRE. Revenue tumbled 32% YoY to S$60. To raise capital, Hyflux had jumped onto the bandwagon of issuing perpetual securities. Background of Ms Olivia Lum Ms Olivia Lum is the first female World Entrepreneur of the Year 2011. , Water, Sewage & Other Systems, Singapore. SINGAPORE: As Hyflux's bid to restructure its debt continues, authorities have been keeping a close eye on developments around one of the company's assets - a waste-to-energy plant in Tuas. Mr Kee was also previously the Chief Executive Officer of the Trustee-Manager and Non-Independent Executive Director of Hyflux Water Trust Management Pte Ltd. The reprieve will - once again - come as a relief for Hyflux, which is under intense pressure from creditors. Utico has resolved a key item of advisors fees for Hyflux Restructuring Agreement (RA) during the WETEX 2019 and IDA World Congress held in Dubai. The embattled water treatment firm applied for the. Hyflux was established in 1989 as an integrated water management company engaging in construction and operations of water treatment facilities, water supply businesses, desalination facilities, and other related activities. The company has been working with a team that is 16% smaller, Hyflux said. Prior to that, he held numerous senior regional management positions in Finance, Operations and Strategic Business Development in his 23-year tenure at Hewlett Packard. Principle 1: The Board's Conduct of Affairs. Hyflux described Utico as the largest private full-service utility and developer in the Middle East that counts sovereign institutions from Oman, Saudi Arabia, Bahrain and Brunei as its shareholders and investors. The two plants will provide a combined total of at least 900,000 cubic metres of drinking water every day. After a debt moratorium was imposed on Hyflux last year, the company let go of employees and reduced the salaries of its senior management team. This was before 2006, as noted in the news article - well before the issuance of Hyflux preference shares in 2011 and their perpetual bonds in 2016. -Ensure that training and competence programs are maintained in line with training matrix. Once every decade also, someone would definitely screw up and one or two badly designed contract put EPC firms at risk of bankruptcy. The property is a 10-storey high specifications building with good corporate image. The company, which has enhanced self. Lum started corporate life as a. Under the agreement, AEC holds 49% of the project. But Hyflux should manage to pull through either with bank credit lines or with the Singapore government awarding it yet another project. Jonathan Low is on Facebook. AEC and Hyflux also incorporated joint venture company Tahlyat Myah Magtaa. We estimate that shareholder equity made up around 15% of Hyflux’s total capital (the sum of equity, borrowings, perps, and pref shares). First and foremost, it is a business failure and the responsibility of the management led by Olivia Lum cannot be denied. Where it all went wrong, was the Tuasspring Integrated Water and Power Project in Singapore. What a finale. He will be ably supported by an experienced management team spanned across the geography where Hyflux operates in. View KANCHARANA APPALASWAMY’S profile on LinkedIn, the world's largest professional community. IT is almost exactly one year since water treatment firm Hyflux applied for a moratorium while it sought to restructure its finances. I REFER to the recent news reports on Hyflux. court granted an extension of moratorium for hyflux applicants to 2 december 2019. At that point in time, Hyflux was still very profitable, we were just starting out the power operations, so it wasnt apparent at that point in time that it would reach to this extent. The applications, filed by Hyflux and three of its subsidiaries, will be heard at the upcoming case management conference scheduled on Aug 2 - the day its court-approved protection from creditors will expire. Hyflux has at least 30,000 retail in their securities to whom just received the message that they will get zero if they do not agree to the restructuring. Alas, Hyflux was not spared. Jean has 6 jobs listed on their profile. We cover: The key takeaways and learning points of Hyflux; How to think about fixed income issues. My warning and alert LIVE on the blog to be alert of sellers prevails as now the sellers are truly in control. Utico added that with the support of Hyflux's board and management, "swift action" will be taken to bring all projects up to speed, as well as take on new projects. Soon after SIAS (Securities Investors Association Singapore) said that it is fully supportive of Hyflux’s request of the debt moratorium. 4 Nov 2010. The Hyflux Senior Management Team draws people from a wide background of expertise and experience, and boasts leaders who have made their mark in international financial institutions and MNCs like HP, GE, Dow Chemical and JP Morgan. Should it do so, the firm will have to present “something fairly tangible” to the Singapore courts in order to justify an extension grant, said Justice Aedit Abdullah at the April 11 conference. Planning and executing logistics requirements necessary for the successful export and import. 4 million contract by Snamprogetti Saudi Arabia Co Ltd to design, manufacture and supply a seawater reverse osmosis and sulphate removal facilities package in Khurais, Saudi Arabia. was incorporated on 28 September 2007 (Friday) as a Private Company Limited by Shares in Singapore. Singapore and SEA largest Sea Water Desalination Plant by this amazing Innovative Corporation, HYFLUX> Thank you for the project and opportunity! HYFLUX Tuaspring Desalination Plant Video on Vimeo Join. Presently working as Finance Manager with Hyflux Ltd leading end to end F & A functions for EPC and O&M entities of Desalination plant at Qurayyat. Hyflux Ltd (Hyflux) is a provider of engineering, procurement and construction (EPC) services for water treatment plants. Singapore water firm Hyflux will help to develop potable water and wastewater infrastructure as part of an integrated township project in the Morogoro District of Tanzania. The Business current operating status is live with registered address at HYFLUX INNOVATION CENTRE. com Singapore Images is a Singapore stock image library that archives one of the largest online images of Singapore. If a carve-out is approved, these banks plan to file applications for Hyflux and Hydrochem Singapore - its engineering, procurement and construction business - to be placed under judicial management. It is proven that the Hyflux management is very fearful of JM. Explore commentary on HYFLUX and hear what the experts at TheStreet are saying about HYFXY. February 5, 2016. About 800 holders of Hyflux's notes, perpetual securities and preference shares got their chance to meet the management for the first time since the company applied for court protection in May. All of these amounts will only be distributed to the project staff responsible for the extinguishment of the contingent claims. First published in The Business Times on 17 May 2019 It is almost exactly one year since water treatment firm Hyflux applied for a moratorium while it sought to restructure its finances. The struggling water treatment firm has called judicial management an expensive prelude to a long-drawn out liquidation, one that would destroy value which could otherwise be extracted for creditors under a restructuring scenario. In my view, Hyflux’s troubles should stem from crisis of confidence among its bank creditors. Hyflux's Key Management Committee is responsible for driving the Group's strategic vision, formulating business plans to achieve business goals, creating the conditions for successful day-to-day operation and delivering long-term value for all stakeholders. "With the support of Hyflux Board and management, swift action will be taken to bring all projects up to speed as well as take on new projects. - Continuous instable decisions and unclear policies and procedures. The Municipal segment supplies a range of water and fluid treatment solutions to municipalities and governments, including commissioning, operation and maintenance of a range of water treatment and liquid separation plants. Facebook gives people the power to share and makes the. Hyflux key financial statistics including returns, dividends, risk metrics, margins and valuation ratios. a case management conference. NEA's latest move is designed to trigger creditor banks to call for management change. At 16, the straight-A student came to study in Singapore, and then graduated in applied chemistry at National…. At 16, the straight-A student came to study in Singapore, and then graduated in applied chemistry at National…. WHEN any listed company, let alone one as prominent as water treatment specialists Hyflux, runs into financial problems and applies for court protection, it is only natural for stakeholders to worry about whether they will be able to recover their investments. Shareholders and investors are now asking why Hyflux’s audit firm gave the organisation a clean bill of health in its annual reports over the last decade, instead of failing to flag the risk. Replace Hyflux perpetual bonds / preference shares / stocks with ANY other investment, and you can see how ridiculous this notion is of thinking that the government has a role to play. WHEN Hyflux meets its retail stakeholders, as it eventually must to get their buy-in for any debt restructuring plan, founder Olivia Lum will have a lot of explaining to do. Strategic Analysis Presentation of Hyflux - Free download as PDF File (. Total pay cut of 71% , comparing 2014 to 2017. Poor risk management and unsuccessful risk investments led to the mess that they are in now. Hyflux Ltd (Hyflux) is a provider of engineering, procurement and construction (EPC) services for water treatment plants. 2009 – 2010 1 year. The swift turn of events caught shareholders by surprise and marked a treacherous chapter for Hyflux. Hyflux, debt moratorium, Utico, SM Investments, SINGAPORE (Sept 30): Distressed water treatment company Hyflux has bought itself yet more time, after the High Court on Monday granted another two-month extension of its debt moratorium to Dec 2. Glassdoor has 99 Hyflux reviews submitted anonymously by Hyflux employees. It just so happened that I came across this ST article on the Hyflux preference shares which I remember talking about in 2016 a while after they issued their perpetual bonds. Oh yes, KIT also owns a 70% stake in SingSpring Desalination Plant, which was built by Hyflux. 4 million, and employs over 1,200 staff in China, India, the Middle East and North Africa region as well as Singapore and Southeast Asia. Easy to execute and follow; Trend Following Signals generates buy and sell decisions designed to ride winners to the top and cut losers fast. No need to worry about fraud (Noble Group) and companies with absurd risk management (Hyflux). We cover: The key takeaways and learning points of Hyflux; How to think about fixed income issues. View Mark Edrian Andre-e’s profile on LinkedIn, the world's largest professional community. July 29: Hyflux redeems all S$175 million 4. Role and responsibilities Ms. Hyflux is playing a dangerous game of ring around the rosies with investors, using 1 issue to redeem another issue due for step-up. Utico informed Hyflux it plans to keep the company’s main businesses so they remain operational, and to retain current management, according to the statement. Qa Qc Manager EPC Dept Hyflux Ltd January 2018 - Present 1 year 11 months. 2 Key Points Singapore’s largest seawater desalination plant Hyflux’s largest project by value Second largest ultrafiltration membrane installation after Magtaa Seawater Desalination Plant 3. Back in Oct 2016, I talked about Hyflux and their recently launched 6% perpetual. Hyflux gets deadline extensions to announce 2018/19 financial results FRI, JUN 28, 2019 - 5:20 PM HYFLUX has been handed further deadline extensions by the Singapore Exchange to announce its FY2018, first- and second-quarter 2019 financial results, and hold its FY2018 annual general meeting (AGM). Hyflux said April 25 it had received a non-binding letter of intent from an undisclosed Middle East developer. As we all know, Hyflux is already facing a "one leg in the grave" situation. Online product catalogs, news, articles, events, publications & more. By now Lum was a high-flier, lauded by politicians, business groups and the media as a model female. The Hyflux Senior Management Team draws people from a wide background of expertise and experience, and boasts leaders who have made their mark in international financial institutions and MNCs like HP, GE, Dow Chemical and JP Morgan. These preference shares are cumulative so it means that if Hyflux do not pay a dividend this semi annual or annual it will accumulate. 19 per tonne, the Hyflux and MHI consortium submitted the most competitive offer for the development of a WTE plant and the provision of waste-to-energy services over a 25-year period,” explained NEA in a news release. The ultimate deal? Hyflux signed a deal with the PUB in 2011, 70 million gallons of desalinated water a day for twenty-five years. Utico added that with the support of Hyflux’s board and management, "swift action" will be taken to bring all projects up to speed, as well as take on new projects. Hyflux has recently amended the scheme to allocate a portion of contingency claims to the perpetual and preference shareholders. HYFLUX CONSUMER PRODUCTS PTE. Siddique was Group Executive Vice President of Hyflux Ltd, and CEO of Hyflux Water Trust, which he led the IPO of on the mainboard of the Singapore Stock Exchange. When it comes to ownership structure of a company, the impact has been obse. Hyflux was highly leveraged, they had a weak cash flow and was taking on more debt to pay off existing debt and added further financial burden to their liabilities. The representative for Hyflux, WongPartnership lawyer Manoj Sandrasegara told a case management conference on Thursday: 'I have no instruction at this stage to apply to extend the moratorium,' Business Times reported. 01 trillion. As a child, she peddled homemade ice-lollies. 2009 – 2010 1 year. This would give it a much needed financial lifeline that will enable it to continue its operations. Learn from the stories of 25 entrepreneurs who’ve built thriving businesses. An exclusive interview with Olivia Lum, Executive Chairman and Group CEO of Hyflux - learn more about the latest in water technologies and the future expansion plans of the company. 9 May 2018 1Q2018 Financial Results. At 16, the straight-A student came to study in Singapore, and then graduated in applied chemistry at National…. is an investment holding company. sept 30 (reuters) - hyflux ltd ::extension of moratorium to 2 december 2019. “At a first-year cost of S$55. To Galaxy Newspring Pte. This article was. Designed to deliver the convenience and efficiency of small water treatment system to end users, Hyflux's Standard Membrane Systems (SMS) are capable of treating water from a wide range of sources for various applications by industries and small communities. News Items (2 keywords) CF Industries Holdings, Inc. SINGAPORE — United Arab Emirates-based utility Utico FZC said on Tuesday (Aug 27) it had agreed a restructuring deal with Singapore's indebted water treatment firm Hyflux, giving it 88 per cent. Murugasu is a member of the Board's Nominating, Remuneration and Risk Management Committees. Today, Temasek continues to invest in Singapore SMEs via an independently managed fund, Heliconia Capital Management. 43% compared to 2016. Utico added that with the support of Hyflux's board and management, "swift action" will be taken to bring all projects up to speed, as well as take on new projects. My warning and alert LIVE on the blog to be alert of sellers prevails as now the sellers are truly in control. I wrote about how terrible it looks BEFORE the offer closed. ESR-REIT signed on a new tenant, P-Way Construction & Engineering Pte Ltd, at 8 Tuas South Lane – thereby reducing its Hyflux (SGX:600) exposure to 3% (2Q19: 3. In the last 12 months, Hyflux has begun to redeem some of its perps. It announced in an exchange filing that the application will be heard at the next case management conference on Thursday, just days before its court-sanctioned protection from creditors expires on 30 April. Hyflux management believes this could help the company find a new sponsor. These banks now want to effectively drive the current Hyflux management out of the process. Hyflux Salaries trends. Streetdirectory. By now Lum was a high-flier, lauded by politicians, business groups and the media as a model female. Applications RO Pretreatment Filtration. We cover: The key takeaways and learning points of Hyflux; How to think about fixed income issues. News Items (2 keywords) CF Industries Holdings, Inc. pdf), Text File (. Hyflux won the contract to design, build and manage the plant, which will use reverse osmosis (RO) technology. This is beneficial to Hyflux. This was before 2006, as noted in the news article - well before the issuance of Hyflux preference shares in 2011 and their perpetual bonds in 2016. IT is almost exactly one year since water treatment firm Hyflux applied for a moratorium while it sought to restructure its finances. If it was a party with experience in running water treatment plants, it is less likely that they will wish to retain Hyflux management, though they may offer a better deal than SM. Utico is a potential white knight in Hyflux's debt restructuring. (OTC Markets:HYFXF). Olivia Lum is the founder, group chief executive officer, and president of the Singapore-based Hyflux Group. Ms Lim was appointed Group Executive Vice President and Group CFO of Hyflux Ltd in May 2013. Gulp, all these sounds quite ominous right? Nonetheless, with sovereign wealth fund Temasek Holdings as backer, chances of KIT share suffering the same fate as Hyflux is low. Assuming Old Hyflux owns 20% of New Hyflux and makes $50m annually. Morogoro serves as the transit point for travellers commuting between neighbouring East African nations including Kenya, Zambia, Burundi and Uganda. The representative for Hyflux, WongPartnership lawyer Manoj Sandrasegara told a case management conference on Thursday: 'I have no instruction at this stage to apply to extend the moratorium,' Business Times reported. Quite liked how the presentation turned out and we did pretty well. 9 May 2018 1Q2018 Financial Results. 7%, Italy at 7%, and don't even mention Greece… I was "right" (face saving mode on now) to question something is not right when you have to. The government agencies ripped off Hyflux by first locking in Hyflux into long term fixed price contracts, then distorted water and electricity prices. Hyflux is one of the world's leading fully-integrated water solutions companies, with operations and projects in Southeast Asia, China, India, the Middle East and North Africa. The Accounting for Hyflux's Water Treatment Plants Hyflux develops and operates various types of water treatment plants for municipals and industrial companies in concessions of 20 to 30 years. The primary role of the Company's board of directors ("Board") is to protect and enhance long-term shareholders' value and to ensure that the Group is run in accordance with best international management and corporate governance practices, appropriate to the needs and development of the Group. She was responding to the queries raised by Securities Investors Association Singapore (SIAS) on behalf of. The property is a 10-storey high specifications building with good corporate image. Hyflux was established in 1989 as an integrated water management company engaging in construction and operations of water treatment facilities, water supply businesses, desalination facilities, and other related activities. Utico added that with the support of Hyflux’s board and management, "swift action" will be taken to bring all projects up to speed, as well as take on new projects. A lot of investors thought they were investing in "water" sector at the desalination plant, but Hyflux was actually betting on the "energy" market when it won the bid for the desalination project at Tuaspring. As we all know, Hyflux is already facing a "one leg in the grave" situation. An extended moratorium coupled with heightened conditions for disclosure and engagement with creditors, in our view, would provide creditors with the benefit of an orderly and transparent restructuring process, less the potentially negative effect of the judicial management on Hyflux's search for strategic investors as well as ongoing projects. Hyflux saga: Judicial management not the panacea for company's restructuring IT is almost exactly one year since water treatment firm Hyflux applied for a moratorium while it sought to restructure its finances. Hyflux said Friday it will negotiate exclusively with Utico FZC until the U. After a debt moratorium was imposed on Hyflux last year, the company let go of employees and reduced the salaries of its senior management team. Incorporated on 25 June 1974 as a Commercial Investment Company, Temasek owns and manages a net portfolio of $308 billion (as of 31 March 2018), with S$16 billion divested and S$29 billion invested during the year, and 68% exposure to Asia - 27% Singapore and. I have been working at Hyflux full-time for more than 3 years. Hyflux Innovation Centre is located within the Kallang Industrial Estate and at the junction of Bendemeer Road and Boon Keng Road, within walking distance to Boon Keng MRT and Bendemeer MRT. Learn about N2H with our data and independent analysis including price, star rating, valuation, dividends, and financials. Read more: Hyflux to negotiate with potential investor Utico FZC. Role – Joined as a project trainee (part of the syllabus), completed 2 months project in “Recruitment and Selection”, then was hired as fulltime recruiter, worked for a year in recruitment as a corporate recruiter got great experience of a PCMM level 5 company, also got a opportunity to work in the. The latest developments in the Hyflux saga come on the same day the company's applications for another extension on its moratorium will be heard by the Court at a case management conference, just days before Hyflux's court-sanctioned protection from creditors expires on April 30. Hyflux has recently amended the scheme to allocate a portion of contingency claims to the perpetual and preference shareholders. The reprieve will - once again - come as a relief for Hyflux, which is under intense pressure from creditors. The government agencies ripped off Hyflux by first locking in Hyflux into long term fixed price contracts, then distorted water and electricity prices. The second is whether Hyflux can come up with a good proposal for all its creditors so that nobody brings them to court. On 3 April, I wrote that Hyflux saga is so bad that its good. All of these amounts will only be distributed to the project staff responsible for the extinguishment of the contingent claims. ESR Funds Management (S) Limited, as the manager of ESR-REIT (the "Manager"), refers to the announcement released by Hyflux Ltd ("Hyflux") on 22 May 2018 entitled "Commencement of Court Supervised Process for Reorganisation" (the. Company will follow Singapore's government policies if it helps to save money but when it comes to rewarding employees the company will save every single cent. HYFLUX MEMBRANE MANUFACTURING (S) PTE. Hyflux Ltd is a global environmental solutions company listed on the Singapore Stock Exchange, with a market capitalisation close to S$735. Over time, they evolved to provide more integrated solutions, to cover water, power and waste management needs. In a year full of high-profile IPOs, WeWork takes center stage as it moves towards its offering date, offering a fascinating insight into corporate narratives, how and why they acquire credibility (and value) and how quickly they can lose them, if markets lose faith. Hyflux Case Study - Link. Established in 2011, Hyflux Energy is the electricity retail extension of Hyflux Ltd, a leading global fully-integrated provider of water and power management and innovative environmental solutions. 25 Jan 2013 20:36:26 UTC: All snapshots: from host www. Read more at. SGXnet Announcement. Facebook gives people the power to share and. Gireesh Bhat General Manager, Head of India Industrial Products Mr Bhat heads the India Industrial Products at Hyflux , and he oversees the development of large-scale water and wastewater projects in India. This dataset includes 1. Hyflux - Sustainable Solutions That Transform Lives. Even though Hyflux's management has vowed to complete its debt reorganization within six months, it remains to be seen on how creditors will respond. Hyflux estimates a gain of S$84 million on the divestment of the 10-storey property. But analysts say such market volatilities should have been factored in by the firm's management. Learn about N2H with our data and independent analysis including price, star rating, valuation, dividends, and financials. In a year full of high-profile IPOs, WeWork takes center stage as it moves towards its offering date, offering a fascinating insight into corporate narratives, how and why they acquire credibility (and value) and how quickly they can lose them, if markets lose faith. Role – Joined as a project trainee (part of the syllabus), completed 2 months project in “Recruitment and Selection”, then was hired as fulltime recruiter, worked for a year in recruitment as a corporate recruiter got great experience of a PCMM level 5 company, also got a opportunity to work in the. Prior to joining Hyflux, Mr Wong was the Country Managing Director for Philips Singapore. At that point in time, Hyflux was still very profitable, we were just starting out the power operations, so it wasnt apparent at that point in time that it would reach to this extent. But, the pro-activeness ( or rather lack of it) by the Hyflux management is pathetic. Hyflux Updates – PUB, Salim and Hong Lim Park (30 Mar 2019) - It has been an eventful few weeks for Hyflux. In fact, the perpetual securities were so oversubscribed that Hyflux expanded the offering to $500 million. Both companies are, however, in advanced discussions and. A lot of investors thought they were investing in "water" sector at the desalination plant, but Hyflux was actually betting on the "energy" market when it won the bid for the desalination project at Tuaspring. He said the Hyflux board was holding back over issues such as advisors fees, board representation and management oversight. She also heads the Research and Development function. In the latest town hall meeting on 18 January 2019, Hyflux management outlined the process of selection of the potential strategic investors, which numbered about 16, and they comprised Mainland. HYFLUX LTD (600. Hyflux was named preferred bidder in 2011, based on their proposal to build a desalination plant with an onsite power plant at Tuasspring. Mainboard-listed Yoma Strategic Holdings on Monday announced the opening of a potable water plant at Pun Hlaing Golf Estate, its development in Myanmar, which the company says is the first in the country to have its own water-treatment plant. Kang Thian Jian , Panel Chairman, Industrial Bus & Wireless Technology Conference 2009, Past President, Instrumentation and Control Society (ICS), Managing Director, Global Head of Electrical, Instrumentation & Control, System Manufacturing and Project Management, Hyflux Ltd Kang Thian Jian , Panel Chairman, Industrial Bus & Wireless Technology Conference 2009, Past President, Instrumentation. Hyflux management's reserve issue was undersubscribed and only $6m out of $20m reserved were taken. It was alleged that the predominately show stopper was the inability of the senior management of Hyflux to resolve the cap of S$25Mil imposed by Utico over professional and advisors’ fees in the restructuring agreement. Goh heads the overall financial management, funding, banking relationships, treasury functions, accounting, corporate compliance and internal controls of the Hyflux. 737 in FY09 was caused by a large increase in equity of S$137. 8% and the 5. Sale and Purchase Agreement entered into between its indirect wholly-owned subsidiary, Hyflux Asset Management Pte. Siddique previously worked with the International Finance Corporation (IFC), for more than 16 years, and before that, with Swiss Bank Corporation (now UBS) in New York. SINGAPORE - Hyflux chief executive Olivia Lum has volunteered to contribute her entire stake of 267 million Hyflux shares and securities as part of a proposed restructuring plan for the troubled. At the same time, we hope to be a force for positive change in communities in Asia. Head of Contracts for Department of Civil, Structural and Marine Hyflux is a leading provider of integrated water management and environmental solutions with operations and projects in Singapore, Southeast Asia, China, India, Algeria, the Middle East and North Africa. To Galaxy Newspring Pte. After Hyflux was granted a six-month moratorium that will last until mid-December, founder-CEO Olivia Lum said on Thursday (Jul 19) the management is working hard to keep the company afloat to. 'huge gap between written and practiced policies' - Never been recognized for the good work but always exposed for criticism even for good work 'not an employee oriented company'. Hyflux is playing a dangerous game of ring around the rosies with investors, using 1 issue to redeem another issue due for step-up. About 800 holders of Hyflux's notes, perpetual securities and preference shares got their chance to meet the management for the first time since the company applied for court protection in May. In the event that the earnings of the Trust falls short of its projected DPU, Hyflux (i. was incorporated on 25 January 2007 (Thursday) as a Private Company Limited by Shares in Singapore. Water Company Hyflux Moves into Waste to Energy 2015-10-26 20:41:52 120 MW Waste to Energy Contract for MHI in Singapore Japanese waste to energy technology supplier, Mitsubishi Heavy Industries (MHI) will participate in the development of a 3600 tonne per day combined heat and power waste to energy project in Singapore. Post date: 05 Jul 2012. Another investor who bought Hyflux at above $2. Hyflux Innovation Centre is located within the Kallang Industrial Estate and at the junction of Bendemeer Road and Boon Keng Road, within walking distance to Boon Keng MRT and Bendemeer MRT. See the complete profile on LinkedIn and discover Esther's connections and jobs at similar companies. Morogoro serves as the transit point for travellers commuting between neighbouring East African nations including Kenya, Zambia, Burundi and Uganda. HYFLUX MEMBRANE MANUFACTURING (S) PTE. Our projects and operations span across the globe, and include landmark projects such as some of the world's largest seawater reverse osmosis desalination plants in Singapore, China and Algeria. Hyflux recently announced that they will be issuing preference shares (perpetual securities) again. Prior to that, he held numerous senior regional management positions in Finance, Operations and Strategic Business Development in his 23-year tenure at Hewlett Packard. E developer's 26 August deadline to reach a definitive agreement for a potential investment into the troubled Singapore water infrastructure player. Watch Out for Hyflux's Omission of Ordinary Dividends Hyflux announced its half year financial results last month. “At a first-year cost of S$55. If granted more time, the insolvent water project developer hopes to reach a deal with its creditors via a court-sanctioned scheme of arrangement by April next year, a Singapore High Court heard on Wednesday during an interim update on the restructuring. Hyflux Ltd: Credit Initiation Report Important disclaimers at the end of this report Financial Analysis (Financial Risk Profile) We see Hyflux's overall financial risk profile as Highly Leveraged considering the below analysis and factors, and the quality of its management and ownership. That was after winning a big project in Egypt that was worth $500 million. You can see that she is already planning for an exit by paying dividends in both cash and stock in specie - Hyfluxshop even when the Company is performing very poorly and is too highly levered. " (The Edge, "Hyflux wins second contract for Iran desalination project despite restructuring," 7/11/2018. Hyflux said Friday it will negotiate exclusively with Utico FZC until the U. Hyflux Ltd, a leading provider of integrated water management and environmental solutions, has been formally awarded the Qurayyat independent water project by Oman Power and Water Procurement. Hyflux will have a 41. This table contains critical financial ratios such as Price-to-Earnings (P/E Ratio), Earnings-Per-Share (EPS), Return-On-Investment (ROI) and others based on Hyflux Ltd's latest financial reports. DBS is the sole lead manager and bookrunner. Join Facebook to connect with Jonathan Low and others you may know. Hyflux engineering India Private Limited Hyflux is a leading global fully-integrated water solutions company committed to producing water that is clean, safe, affordable and accessible. , Water, Sewage & Other Systems, Singapore. HYFLUX CONSUMER PRODUCTS PTE. Role and responsibilities Ms. After Hyflux was granted a six-month moratorium that will last until mid-December, founder-CEO Olivia Lum said on Thursday (Jul 19) the management is working hard to keep the company afloat to. Going forward, Hyflux continues to expect the short-term outlook for the region to remain uncertain although it does see pockets of opportunities. View Mark Edrian Andre-e’s profile on LinkedIn, the world's largest professional community. Welcome to How we made it in Africa! We thought you might be interested in our acclaimed book, published in association with the UCT Graduate School of Business and Business Partners. The setting up of the Trust allows Hyflux to 'cash out' of its fixed assets by selling these assets to the Trust in exchange for Units and enticing investors with the 'yield' carrot. The Board also wishes to announce the promotion of Mr Wong Lup Wai, currently Group EVP, to Group EVP and Group Chief Operating Officer. Hyflux's Tuaspring desalination plant. Management did note that there could be a possibility of Hyflux shares to re-start trading after April 2019, however this is contingent on the completion of the entire restructuring process, and the outcomes which management is striving to complete by end April 2019. NUS Risk Management Institute rmicri. The real trouble-maker is Hyflux's management because they created fake accounts, lied repeatedly and rejected initiatives from NEA after going to bed with Indonesians. Robust Performance in a Compact Design. SMI, a white knight, is a consortium formed between Salim Group and Medco. July 29: Hyflux redeems all S$175 million 4. Hyflux engineering India Private Limited Hyflux is a leading global fully-integrated water solutions company committed to producing water that is clean, safe, affordable and accessible. Hyflux, with its expertise in Water Treatment, owns many water treatment plants. He said that both Mitsubishi Heavy Industries (MHI) and Hyflux are acting in such a way ignoring Utico proposal to infuse funds by next month. Watch Out for Hyflux's Omission of Ordinary Dividends Hyflux announced its half year financial results last month. Richard Menezes, MD of Utico claimed that the Hyflux board and management is delaying to leak assets and there are gaps in disclosures and EPC credibility to remove corporate liability. Essentially, Hyflux was way too ambitious for their own good. SMI, a white knight, is a consortium formed between Salim Group and Medco. The High Court ruling on Tuesday evening (May 7) also extended the deadline for Hyflux' s debt moratorium with its creditors from May 24 to May 29. Highly effective Qualified Certified Management Accountant (CMA) from Institute of Management Accountants (US)having a total of 14+ years experience with local and MNC's in India and Middle East. Gireesh Bhat General Manager, Head of India Industrial Products Mr Bhat heads the India Industrial Products at Hyflux , and he oversees the development of large-scale water and wastewater projects in India. Replace Hyflux perpetual bonds / preference shares / stocks with ANY other investment, and you can see how ridiculous this notion is of thinking that the government has a role to play. Hyflux's top management is committed to conducting our business in a manner that protects the environment, health and safety of employees, customers, shareholders and the public; and complies fully with applicable laws and regulations. They are trying to strain us so that those represented by lawyers will exhausted. But, the pro-activeness ( or rather lack of it) by the Hyflux management is pathetic. $10m will go to Old Hyflux, which will be shared by $900m of PnPs, unsecured debts, legal debts, and Old Hyflux management. BOT and turnkey projects do not always generate consistent cashflow. 6m; mainly due to the divestment of its JV and associate with Marmon Water LLC group in 1Q14, but mitigated by a divestment gain of S$15. 4 million, and employs over 1,200 staff in China, India, the Middle East and North Africa region as well as Singapore and Southeast Asia. UAE's Utico signs restructuring agreement with Hyflux Utico says that with the support of Hyflux's board and management, "swift action" will be taken to bring all projects up to speed, as well as take on new projects. Hyflux chief Olivia Lum 'deeply saddened' by losses suffered by investors, lenders (The Straits Times, 15 Feb 2019) Yes, she should be ! even with all the losses she made and donating the share subsequently , she is still a multi-millionaire and have huge stake in privately own Hyfluxshop , also collecting fat pay till now. Not just one or two "very talented" individuals. The Board also wishes to announce the promotion of Mr Wong Lup Wai, currently Group EVP, to Group EVP and Group Chief Operating Officer. Just purely from a financial management point of view, why is Hyflux willing to raise perpetual at 6% to redeem perpetuals at lower coupon rates. Read more: Hyflux to negotiate with potential investor Utico FZC. Hyflux did not specify how long an extension it is seeking. is an investment holding company, which engages in providing water and energy solutions for communities and industries. " (The Edge, "Hyflux wins second contract for Iran desalination project despite restructuring," 7/11/2018. With Hyflux granted a six-month moratorium that will last until mid-December, founder-CEO Olivia Lum said on Thursday (Jul 19) the management is working hard to keep the company afloat to ensure fair treatment for all stakeholders, including retail investors. Explore commentary on Hyflux Ltd. 63 million, down 57. Mainboard-listed Yoma Strategic Holdings on Monday announced the opening of a potable water plant at Pun Hlaing Golf Estate, its development in Myanmar, which the company says is the first in the country to have its own water-treatment plant. Over time, they evolved to provide more integrated solutions, to cover water, power and waste management needs. I focus on what I can "control". Water Company Hyflux Moves into Waste to Energy 2015-10-26 20:41:52 120 MW Waste to Energy Contract for MHI in Singapore Japanese waste to energy technology supplier, Mitsubishi Heavy Industries (MHI) will participate in the development of a 3600 tonne per day combined heat and power waste to energy project in Singapore. Water-technology.