$Hyflux(600.SI) , $Hyflux 6% CPS(N2H.SI) , $Hyflux 6% PerCapSec(BTWZ.SI)

Attached is the response I got from Hyflux's Investor Relations when I emailed them about keeping silent despite the recent plunge in their CPS/PCS:

" Thank you for your email. Unfortunately, we are unable to comment on the share prices and CPS prices as this is a function of the market. Hyflux Ltd is unaware of any news that has caused movement in the prices of the preference shares and perpetuals.

As we are in the mandatory blackout period prior to our FY2017 results announcement, we apologise that we are unable to answer any forward-looking financial questions.

We seek your kind understanding on this.

Thank you. "

Key thing to note is that they are not aware of any news and it seems the market is only speculating on some kind of doomsday scenario based on what I see. On a side note, I am impressed that I got a same day response from their IR. Good job!

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7 likes
74 comments
ThumbTackInvestor

lol I just started doing DD literally a few hrs ago
then it shot up.
Either someone's making a huge mistake....
or someone knows something that the markets don't

Zumou80

Reply to @ThumbTackInvestor : True. They do seem pretty on the edge when it comes to insolvency though.. usually dependent on the primary Banker.

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Cmlee

Who is buying today?

Master_GongJiaowei

this kind of chart see le will heart attack one

johnwang

Likely going to zero

TraderJedi

when is the result coming out?

TraderJedi

Reply to @SGPunter : This tranche was $200M... actually the volume transacted is very small.. Less than a $1M.

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SGPunter

Suddenly its the top gainer for the day. Best to ignore these intraday movements otherwise heart attack...

Looking forward to Hyflux's result. I anticipate a loss like most people due to Tuaspring but am hoping there will be some updates provided on its sale.

TheLoneWolf

I thought there were a 30% water fees hike after last year budget? Why isn't a portion of fees pass on to hyflux? Afterall, heavy reliance on NEWater and desalination were the justification for the increase in cost.

https://www.todayonline.com/singapore/wate...

tansiowc88

Standard answer from IR. Expecting losses for the coming quarter and full year. The worry is whether their cash flow can tie them over the difficult period..

GrandpaLemon

"Thank you for your email. We are indeed in deep shit. Why did you buy us in the first place, can you go big or go home"

no sane IR will write the truth

learnerlim

Reply to @GrandpaLemon : Already say blockout period they still comment . The problem is they cannot comment

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bgting

Losses are expected for FY results.

10. A commentary at the date of the announcement of the significant trends and competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months.

In line with the outlook shared last quarter, the Singapore power market continues to adversely impact results for the Group, with losses expected for the rest of 2017.

As previously announced, the Group is in the process of divesting its full interest in the Tianjin Dagang desalination plant in China, as well as partial divestment in the Tuaspring plant in Singapore. This is in line with the Group’s asset light strategy, and progress updates will be announced when available.

The Qurayyat IWP project in Oman is in the final stages of testing and commissioning. Construction of the TuasOne WTE project in Singapore is on track. Contract negotiations for the Ain Sokhna Integrated Water and Power Project in Egypt, which is converting from an EPC to a Build, Operate and Transfer structure, is in progress.

Subsequent to the close of the third quarter, the Group announced the sale and partial leaseback of its Tuas manufacturing facility, with an estimated net gain on disposal of S$39.6 mil. Completion of the transaction is pending approval of relevant authorities, upon which the Group expects to receive sale proceeds of S$95.0 mil.

In addition, the Group launched its flagship ELO Water Therapy Centre in central Singapore. This is a significant milestone for the Group’s consumer business.

The proposed spin-off of the consumer business, via dividend in specie, is in progress. Subsequent planned listing will unlock the value of this high growth business for Hyflux shareholders, and provide a dedicated management focus to this segment, which is distinctly different from its traditional municipal and industrial segments. More details will be shared in due course.

jeremyowtaip

Reply to @bgting : Yes, based on the notes attached in their 3Q and 9M reporting as well as the actual reported results, it is highly likely they may make a net loss for FY2017. The more immediate potential bright spot is on the approval by authorities for the partial sales and leaseback of Tuas manufacturing facility to unlock a net disposal gain of $39.6 million. Even though the amount is small, any cash they can receive on hand is better than none during a liquidity pressure. Let's hope the full divestment of Tianjin Dagang desalination plant in China and partial divestment of Tuaspring plant can also make progress to bring in cash for the group in good time to ease them over their current liquidity pressure.

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