Hyflux bond was in our red alert list long ago
We had posted this classification of bonds in our blog in mid 2017:
http://myasiaprivatebank.blogspot.sg/2017/05/my-own-classification-of-bonds.html?m=1
Hyflux bond is under our tier 5 category, which means Avoid.
If you have this bond in your portfolio, you should consider changing your private banker. You deserve a better banker to manage your portfolio and you cannot afford another defaulted / restructuring bond in your portfolio.
Write to us at metal.commodity@gmail.com, we can refer high quality bankers to you.
This news is not a surprise to us:
Singapore's water filtering corporation Hyflux had applied for court protection to make alternative payment arrangements when they were found unable to meet the debt obligations of their convertible bonds. The Temasek Holdings-owned company is scheduled to pay S$500 million of 6% bonds by next Monday (May 28), and S$100 million of 4.25% bonds by September. Hyflux is unable to meet the S$600 million payment in total.
The Singapore company posted it's first annual loss of S$22.2 million in March this year, blaming lowered electricity prices from "an oversupply" of natural gas.
http://myasiaprivatebank.blogspot.sg/2017/05/my-own-classification-of-bonds.html?m=1
Hyflux bond is under our tier 5 category, which means Avoid.
If you have this bond in your portfolio, you should consider changing your private banker. You deserve a better banker to manage your portfolio and you cannot afford another defaulted / restructuring bond in your portfolio.
Write to us at metal.commodity@gmail.com, we can refer high quality bankers to you.
This news is not a surprise to us:
Singapore's water filtering corporation Hyflux had applied for court protection to make alternative payment arrangements when they were found unable to meet the debt obligations of their convertible bonds. The Temasek Holdings-owned company is scheduled to pay S$500 million of 6% bonds by next Monday (May 28), and S$100 million of 4.25% bonds by September. Hyflux is unable to meet the S$600 million payment in total.
The Singapore company posted it's first annual loss of S$22.2 million in March this year, blaming lowered electricity prices from "an oversupply" of natural gas.
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