Its time for Hyflux investors to decide to vote if they agree with the restructuring process.
Though I am now not holding any Hyflux counters, I am really disappointed with the management of Hyflux:
- Knowingly declaring a high valuation of TuasSpring every year when they knew they cannot sell anywhere near the valued price. Up till 2018, Tuaspring was still valued at $1.2B
- When they were bleeding, they continued to declare dividends yearly in cash and Hyfluxshop shares. This is unethical.
- In their latest annual report, their order book was S$1B. Where did it go?
I have come across many broker reports and blog post on Hyflux. Here are 2 of my favorites:
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