• About Us
    • Fact Checking Policy
    • Ownership & funding information
    • Volunteer
  • Subscribe
  • Letter submission
    • Submissions Policy
  • Contact Us
The Online Citizen Asia
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Letters
    • Comments
  • Current Affairs
    • Singapore
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Arts & Culture
    • Consumer Watch
    • NGO
    • Lifestyle
    • Travel
  • Politics
    • Civil Society
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
No Result
View All Result
The Online Citizen Asia
No Result
View All Result

Retired banker Chris Kuan wonders if Hyflux was a victim of regulatory excesses like awarding too much contracts to ensure a peak reserve margin of 30%

by Rubaashini Shunmuganathan
06/03/2019
in Comments
Reading Time: 3 mins read
0

Photo of TuasSpring power plant from Hyflux's website

On Tuesday (5 March), the national water agency Public Utility Board sent a default notice to Tuaspring Pte Ltd (TPL), a subsidiary of Hyflux, to fix defaults arising under the Water Purchase Agreement (WPA) between PUB and TPL.

The authority announced that TPL is to resolve all defaults within the default notice period and failing to do so, will result to PUB terminating the WPA and take control of the plant.

It appears that TPL has not been able to keep up to various contractual obligations under the WPA, especially failing to keep the plant reliably operational as required. On top of that, TPL has also been unable to produce financial evidence to demonstrate its ability to keep the plant running for the next six months.

Responding to this event, retired banker Chris Kuan took his Facebook account on Wednesday (6 March) to raise a few questions on this matter.

He started his post by saying that this whole incident does not mean national water security is at risk and “Hyflux needs to be bailed out” but rather just PUB may be taking over the water facilities. This is because many people have been requesting the Government to help “bail out Hyflux on the issue of water security”.

However, he noted that although he feels sorry for Hyflux’s investors, but he wondered if the company is also “a victim of regulatory excesses like awarding too much contracts to ensure a peak reserve margin of 30% which eventually resulted in a 80% reserve margin, causing process to fall?”

He further questioned if the “consumers are actually subsidising the power companies when the wholesale prices fell below regulated prices since before deregulation, bulk buyers can buy at the former but consumers at the latter?”

On social media, netizens felt that PUB should take control of Hyflux as the company is a “mess”.

Over 50 comments were received regarding this topic on the Facebook pages of Channel NewsAsia and The Straits Times.

However, some questioned the need to use taxpayers’ money to “bill out a private company”.

But, Michelle Tan opined that Hyflux might be too ambitious with rapid overseas expansion which has now resulted in a huge problem for them.

For just US$7.50 a month, sign up as a subscriber on The Online Citizen Asia (and enjoy ads-free experience on our site) to support our mission to transform TOC into an alternative mainstream press.

Related Posts

258 BTO flats and 168 resale flats returned to HDB due to non-fulfillment of Minimum Occupation Period
Politics

Desmond Lee files Ministerial Motion to affirm commitment on affordable public housing in Singapore

31/01/2023
Keppel O&M’s involvement in Brazil’s massive corruption scandal
Business

Keppel Offshore & Marine paid fines and damages of US$65 million to Brazilian authorities over corruption case

30/01/2023
Malaysian PM Anwar Ibrahim arrives in Singapore for one-day official visit
Malaysia

Malaysian PM Anwar Ibrahim arrives in Singapore for one-day official visit

30/01/2023
TikToker alleges being “thrown in airport jail” for going on a 10 hours day trip to Changi Airport
Comments

TikToker alleges being “thrown in airport jail” for going on a 10 hours day trip to Changi Airport

30/01/2023
Workers’ Party Sengkang MPs receives a “mountain of rice pack” from public after donation call for needy families in CNY
Politics

Workers’ Party Sengkang MPs receives a “mountain of rice pack” from public after donation call for needy families in CNY

30/01/2023
Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber
Comments

Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

30/01/2023
Subscribe
Connect withD
Login
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
Notify of
Connect withD
I allow to create an account
When you login first time using a Social Login button, we collect your account public profile information shared by Social Login provider, based on your privacy settings. We also get your email address to automatically create an account for you in our website. Once your account is created, you'll be logged-in to this account.
DisagreeAgree
0 Comments
Inline Feedbacks
View all comments

Latest posts

258 BTO flats and 168 resale flats returned to HDB due to non-fulfillment of Minimum Occupation Period

Desmond Lee files Ministerial Motion to affirm commitment on affordable public housing in Singapore

31/01/2023
Keppel O&M’s involvement in Brazil’s massive corruption scandal

Keppel Offshore & Marine paid fines and damages of US$65 million to Brazilian authorities over corruption case

30/01/2023
Malaysian PM Anwar Ibrahim arrives in Singapore for one-day official visit

Malaysian PM Anwar Ibrahim arrives in Singapore for one-day official visit

30/01/2023
TikToker alleges being “thrown in airport jail” for going on a 10 hours day trip to Changi Airport

TikToker alleges being “thrown in airport jail” for going on a 10 hours day trip to Changi Airport

30/01/2023
Workers’ Party Sengkang MPs receives a “mountain of rice pack” from public after donation call for needy families in CNY

Workers’ Party Sengkang MPs receives a “mountain of rice pack” from public after donation call for needy families in CNY

30/01/2023
Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

30/01/2023
Opposition parties greet Singaporeans during CNY festive season

Opposition parties greet Singaporeans during CNY festive season

30/01/2023
Big C and DHL Supply Chain Thailand deploys electric trucks in joint collaboration to reduce carbon emissions

Big C and DHL Supply Chain Thailand deploys electric trucks in joint collaboration to reduce carbon emissions

30/01/2023

Trending posts

Two Indian nationals paid about S$330 and S$730 respectively for forged certificates submitted in their S-Pass application

MOM found issuing EPs meant for foreign PMETs to PRC waitress and general worker

by Correspondent
26/01/2023
41

...

Earning only S$400 a month, delivery-rider turned hawker threw in the towel after two years of running a rojak stall

Earning only S$400 a month, delivery-rider turned hawker threw in the towel after two years of running a rojak stall

by Yee Loon
26/01/2023
24

...

Ho Ching breaks silence over Temasek’s write down of its US$275 million investment in FTX, says it “can afford to be contrarian”

US regulator questions VCs’ due diligence work prior to investing in FTX; Ho Ching says Temasek can afford to be contrarian

by The Online Citizen
24/01/2023
28

...

Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

Former Singaporean shares change of life in Australia with annual pay of S$80,000 as a plumber

by Yee Loon
30/01/2023
13

...

Indian rupee falls 60% since signing of CECA while Singapore becomes top investor in India

by Correspondent
25/01/2023
59

...

Temasek and GIC reportedly in talks with Adani Group accused of “brazen” market manipulation and accounting fraud

Temasek and GIC reportedly in talks with Adani Group accused of “brazen” market manipulation and accounting fraud

by The Online Citizen
26/01/2023
49

...

March 2019
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Feb   Apr »

The Online Citizen is a regional online publication based in Taiwan and formerly Singapore’s longest-running independent online media platform.

Navigation

  • Editorial
  • Commentaries
  • Opinion
  • Politics
  • Community

Support

  • Contact Us
  • Letter submission
  • Membership subscription

Follow Us

  • Facebook
  • Twitter
  • YouTube
  • Instagram
  • Fact Checking Policy
  • Privacy Policy

© 2022 - 2023 The Online Citizen Asia

No Result
View All Result
  • Opinion
    • Editorial
    • Commentaries
    • Comments
  • Current Affairs
    • Malaysia
    • Indonesia
    • China
    • ASEAN
    • Asia
    • International
  • Finance
    • Economics
    • Labour
    • Property
    • Business
  • Community
    • Civil Society
    • Arts & Culture
    • Consumer Watch
    • NGO
  • Politics
    • Parliament
    • Transport
    • Education
    • Environment
    • Health
    • Housing
  • Law & Order
    • Legislation
    • Court Cases
  • Lifestyle
    • Travel
  • Subscribers login

© 2022 - 2023 The Online Citizen Asia

wpDiscuz