Hyflux CEO grilled over being paid S$60mil in dividends while firm resorted to seeking protection from creditors

Troubled water treatment firm Hyflux’s Board of Directors, through its founder and…

Hiring international academics serves to reinforce conservatism in Singapore, says scholar

The hiring of international academics at universities in Singapore could reinforce the…

A “Sorry” that has little meaning

by Lim Tean Ng Eng Hen apologised in Parliament today for the…

Netizens not impressed with Defence Minister’s apology over National Servicemen training deaths

Defence Minister Ng Eng Hen said in Parliament on Monday (11 February)…

Ng Eng Hen apologises for recent deaths of national servicemen

“I am deeply sorry for the loss of four precious NSmen (national…

Comparison of public healthcare financing between Taiwan and Singapore

by Roy Yi Ling Ngerng In an article Channel NewsAsia wrote yesterday,…

Lam Pin Min informs that doctors do not need to inform patients of all possible side effect of a drug or treatment

Senior Minister of State for Health Lam Pin Min said that doctors…

证券投资者协会抛23问题质问凯发集团

新加坡证券投资者协会(SIAS)代表证券投资者,向凯发集团(Hyflux)董事会致函,对该集团的运营、估值和董事会信用责任问题表达严正关注,罗列23道问题,以让证券持有人知情并作出明智决定。 在由该协会主席大卫杰乐署名的信函提到,债权人和投资者们们整理出一些问题,要求凯发集团董事会回答,包括几乎所有凯发资产都存在严重缺陷,例如在阿曼 Qurayyat和Magtaa的海水淡化厂有运作缺陷,无法达到营运容量;大泉水电厂和天津大港新泉海水淡化厂蒙受亏损,以及Tuasone和阿尔及利亚的Tlemsen项目无法完成。 投资者质问凯发董事会,究竟对这些主要资产进行了怎样的监管?为何这些严重缺陷却没有在年报上公布? “凯发筹集了五亿新元的永久债券和四亿元的优先股,这些资金要如何使用?对比招股说明书的实际使用情况又是如何?”债权人也质问,来自股东500万元的贷款如何使用在大泉水电厂上。 负现金流仍支付股息 与此同时,凯发集团自2009年以来就呈现负运营现金流。但有没有把这种情况告知债权人和股东?何以在负现金流下仍能继续支付股息,至累积更多债务?在2017年前每年都报告盈利而非亏损,令投资者直问:这怎么可能? 协会也要求凯发出示大泉水电厂的现金储备和现有市值,并且质疑它的14亿元账面价值被高估了。”事实上,在2018年,凯发曾接受比马银行五亿元债务耕地的脱售献议,故此至少高估了九亿元。“再者,投资者们也不认为电价低是导致该厂亏损的原因。 亏损时总裁仍获高额薪酬 与此同时,协会也质疑当股东和债权人都在蒙受投资亏损时,总裁林爱莲仍能从34巴仙普通股权中获得6千万元的股息。在2017年的薪酬和分红分别达到75万元和1百万元。同年,凯发却亏损高达1亿1560万元。在这不久的五个月后,凯发集团就因为亏损巨额资金和建筑项目,向法庭申请保护令。 ”敢问林爱莲在凯发重组中扮演的角色?何以在重组过程中她没有将其所得收益贡献出来?“ 协会的信函也提到,在2017年凯发年报,支付给凯发关键领导层的总薪酬高达265万元。何以该集团可以在当下艰难财务环境下,仍能继续支付高额薪酬?这些公司领导理应清楚公司面对的情况,也要负上很大的责任。

Tensions between Singapore and Malaysia rekindled in the wake of Polaris-Piraeus collision in disputed waters off Tuas

Tensions between Singapore and Malaysia are on the rise again as Singapore has,…

Tan Kin Lian: Did not think Tan Jee Say would qualify as candidate in PE2011

Singaporean businessman and former Chief Executive Officer of NTUC Income Tan Kin…