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Be careful with investing your money in sOmething heavily promoted by TH-camrs. Remember they are paid and doesn’t care if you got burned. I remember some famous football clubs were sponsored by some investment funds, in the end, it’s their fans who got hurt, some losing their life saving, while the scammers drove their exotic sport cars and travelling in private jets.
The analyst in this video has missed the core reason why Hyflux failed. It is not financial mismanagement. It is the TuasSpring power plant project. They ventured into an industry in which they had no expertise, one which the pricing of electricity is very complicated and convoluted, dependant on the tariff structure. They entered the power generation industry at a time when prices were highest but by the time Hyflux's power plant became operational the market was already opened up and there was oversupply. Hyflux was thus unable to compete at prices that was lower than its unit cost. Just imagine this, nobody wanted to buy over their power plant. Only their water treatment business was still a viable business. The lesson to be learnt is, of course, never indulge in non-core business that constitute a bigger liability than its core business, and especially when it is into an industry that is about to experience a change in market structure.
I suspected that something fishy was happening. Suddenly more electricity suppliers were allowed, thus depressing the price of electricity and of course Hyflux lost money resulting in the loss for the company and confiscation of the plant by PUB, which is the main asset. A con scheme to rob the retirees of whatever money they have to keep themselves alive. No pity for the old as in these days one cannot rely on children for support.
@@chiaoengchia7507 It's not more electricity suppliers were allowed it's opening up the power supply industry to a free market system. Previously it was a monopoly enjoyed by Singapore Power only. By opening up to open economy it is making the market to be competitive and efficient hence lower prices for consumers. Notice those who did not switch and stayed with Singapore Power continue to pay higher prices (Sing Power has been skimming consumer all this while
@@CCLow-jr7um Fishy that opening the power supply industry at the time when Hyflux was in trouble. With the demise of Hyflux, then PUB could take away the purification plant as planned.
@@chiaoengchia7507 There is nothing fishy about opening up of electricity market. Hyflux was aware of this government decision which was the reason why they went in. But one of the factors behind Hyflux's decision was because they thought they could use power from their own Tuas plant to generate their water purification business and at the same time generate new revenue source by selling electricity to retailers. Their fault did not lie in making this decision. Their fault is they didn't do enough due diligence in studying how the electricity market pricing system is being operated under the floating tariff structure which is not fixed but governed by variables, one of which is the price of gas, which in itself, is also a variable. The electricity market involves power generators,, distributors, and retailers, all of which have different price and risk factors. Unlike the cost structure of other types of businesses where forecasting of cost is relatively easier, the cost of electricity market is very complicated. And, if there are more power plants (power generators) the field of competition widens excacerbating retail price stability, which is already a chess game involving hedging decisions and some element of forecasting costs and tariff movements over quarterly periods, etc. Hyflux knew this risk. But they thought they could absorb this risk because they could reduced their water treatment production cost using power generated by their own power plant. However, the cost being saved was not enough to cover the loss in power generating cost and sales, and their books had taken on an additional liability in capital cost (Tuas plant) which was not core to their main business and was financed by additional loans. In other words, from a very elementary viewpoint they could not continue to throw good money over bad money. The power plant operation was killing the goose that lay their golden egg (the water generation business). Remember one director hinted in the press that they were misled (by government officials). Maybe Hyflux management was cajoled into building an additional power plant by the government and given some form of unofficial "guarantee" of a lifeline should they encounter financial hiccups, or it was just a misunderstanding by Hyflux management who view it to be so, we don't know because we are not privy with the discussions Hyflux had with government officials, notably from Singapore Energy Authority, which regulates power resources in Singapore not PUB (which only governs water resources and supply). Just to show how complicated the pricing system in the electricity market is, last year when there was a pricing crisis with a rise in tariff and hence overall cost, several retailers dropped out of the market and their clients had to emigrate to other retailers. That's how complicated it is to forecast electricity cost.
@@CCLow-jr7um But the investors in particular the retirees, who invested heavily in the perpetual bond, didn't know of this collusion. The collusion with PUB is confirmed by you as you reveal that fact.
Two things sank Hyflux. The first was governent push to use LNG for power generation instead of fuel oil. The incentives to switch was so attractive power generating companies increase thei capacity lead to excess capacity and a drop in power prices. The 2nd mistake was failure of Hyflux in its feasibility study to build a power plant. It assumed the price of power will not decline. It did because of over-capacity in the power generation in Singapore. Hyflux had a dysfunctional board. Independent directors assumed CEO knew what she was doing because she was the largest shareholder - a big mistake.
I bought one of their water purifiers and a few months later they upgraded their replacement filters which doesn't fit the existing ones. Which means I had to buy a new water jug. Short story I was fucked. Way to screw with your customers.
Why is the highly paid Auditing companies did not find the mistakes much earlier...after all they signed off on the annual financial report...what is their responsibility in misleading the public? The company is still listed....the bleak outlook of ever getting back any money back to investors weigh heavily..why were the directors and bank and auditors all made this mistake...i remember one of the directors was a prominent law professor and many would have been sufficiently knowledged in accounting to know what is being reported etc....There is no information on what exactly happened...how no one knew of these mistakes...bith within and outside like auditors???...
In terms of audit, auditing is based on sample, there are no mistakes in audits. It is so easy for companies to falsify documents and transaction records provided that the company knows all the loop holes and covers it perfectly. In this case, this woman must be very good in covering up her tracks and she knows the ins and outs of what the auditor's are verifying and looking for.
Hyflux’s eventual fate came as no surprise, given its mismanagement over many years, and business decisions were pretty much a one-person show. What’s really troubling was how it marketed itself to the public as a “sustainable” company investing in essential services, misleading many John Doe investors into putting their life savings in hoping for stable returns to serve their retirement needs. A good cautionary tale to those who think too highly of large businesses claiming themselves to be future-ready seeking long term growth.
ASSISTED BY THE GOVT WHOSE LEADERS GRACED HER OPENING CEREMONY AND GAVE HER PUBLICITY THROUGH TALKS AND THUS LED TO MANY RETIREES TO INVEST IN THE PREFERENCE SHARES. SOME SAID THE RETIREES WERE GREEDY, WHICH IS NOT TRUE, AS INFRASTUCTURE SHARES SHOUD BE SAFE AS TEMASEK HOLDING ALSO INVESTED.BUT TEMASEK LEFT WITHOUT INFORMING THE RETIREES WHO WERE LEFT HOLDING THE BABY. WORSE PUB TOOK THE DESALINATION PLANT, WHICH IS THE AGREEMENT WITH THE COMPANY, AN AGREEMENT UNKNOWN TO THE INVESTORS BEFORE THE COLLAPSE. FAIR TO THE INVESTORS? NO, AS THE SHARES WERE SOLD AS SAFE WHICH IT SHOULD BE AS PUB IS A BUYER OF THE WATER AND DURING BAKRUPTCY THE PLANT SHOULD BE ABLE TO REPAY THE PREFERNCE SHARE HOLDERS. BUT THE AGREEMENT WITH PUB WAS NOT DISCLOSED TO THE PUBLIC SO INVESTORS OF THE PREFERENCE SHARES LOST THEIR MONEY.
Till date nothing is paid to preference shareholders despite fake reporting of financial data. Given the judgement is done, when will the Hyflux perp holders get back their funds? A fraction is still better than nothing!
I was headhunted once by hyflux. I went on time for the interview but I had to wait one hour for the HR. She apologized for the delay, siting another meeting overrun. But my opinion of the corporate culture already evaporated. Punctuality is the most basic respect anyone can give to another human beings Later, I monitored Hyflux closely. Its fall can be contributed to the CEO iron hand mgmt + working too closely with Chyna which really sucks up their cash flow dry. I hope singapore government can take over the hyflux technology bec it is a cool idea.
I don’t agree. Theranos was a dud from the start whereas Hyflux has a viable membrane technology. Olivia Lum made several risky gambles and lost. Businesses are all about risk taking. Had Olivia Lum survived those mistakes she could have been hailed as a visionary businesswoman. Elizabeth Holmes was a fraud from Day 1 and no chance at all to win.
Not con women, but a female corp boss who rejected and refused herself coaxed into politics, under thumb of Tumasek, turn Hyflux to GLC add all the legally added multi-lateral / levels of corruptions enriching the cunniest elite. See what happens to the Lee siblings. Who forced opened LYK's attache? And can't shut it back? LKY had better precisional engineers vs. James Bond 007 toys inventors. No doubt Hyflux Dame was stigmatised, for refusing to be lured into political career with legally endowed mega corporate tricks and the killings and defamations process was applied. Truth will prevails, nothing is permanent vs. impermanence i.e Annica.
They started to fall the moment they start listing in stock market. This is not an isolated case theres handfull of companies who started to fall after listing in stock market
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Skip the waitlist and invest in blue-chip art for the very first time by signing up for Masterworks: www.masterworks.art/behindasia
Purchase shares in great masterpieces from artists like Pablo Picasso, Banksy, Andy Warhol, and more. 🎨
See important Masterworks disclosures: www.masterworks.com/cd
Getting sponsored by this company could severely harm your reputation, masterworks is seen as shady.
Be careful with investing your money in sOmething heavily promoted by TH-camrs. Remember they are paid and doesn’t care if you got burned. I remember some famous football clubs were sponsored by some investment funds, in the end, it’s their fans who got hurt, some losing their life saving, while the scammers drove their exotic sport cars and travelling in private jets.
😊
😑😑😑
The analyst in this video has missed the core reason why Hyflux failed. It is not financial mismanagement. It is the TuasSpring power plant project. They ventured into an industry in which they had no expertise, one which the pricing of electricity is very complicated and convoluted, dependant on the tariff structure. They entered the power generation industry at a time when prices were highest but by the time Hyflux's power plant became operational the market was already opened up and there was oversupply. Hyflux was thus unable to compete at prices that was lower than its unit cost. Just imagine this, nobody wanted to buy over their power plant. Only their water treatment business was still a viable business. The lesson to be learnt is, of course, never indulge in non-core business that constitute a bigger liability than its core business, and especially when it is into an industry that is about to experience a change in market structure.
I suspected that something fishy was happening. Suddenly more electricity suppliers were allowed, thus depressing the price of electricity and of course Hyflux lost money resulting in the loss for the company and confiscation of the plant by PUB, which is the main asset. A con scheme to rob the retirees of whatever money they have to keep themselves alive. No pity for the old as in these days one cannot rely on children for support.
@@chiaoengchia7507 It's not more electricity suppliers were allowed it's opening up the power supply industry to a free market system. Previously it was a monopoly enjoyed by Singapore Power only. By opening up to open economy it is making the market to be competitive and efficient hence lower prices for consumers. Notice those who did not switch and stayed with Singapore Power continue to pay higher prices (Sing Power has been skimming consumer all this while
@@CCLow-jr7um Fishy that opening the power supply industry at the time when Hyflux was in trouble. With the demise of Hyflux, then PUB could take away the purification plant as planned.
@@chiaoengchia7507 There is nothing fishy about opening up of electricity market. Hyflux was aware of this government decision which was the reason why they went in. But one of the factors behind Hyflux's decision was because they thought they could use power from their own Tuas plant to generate their water purification business and at the same time generate new revenue source by selling electricity to retailers. Their fault did not lie in making this decision. Their fault is they didn't do enough due diligence in studying how the electricity market pricing system is being operated under the floating tariff structure which is not fixed but governed by variables, one of which is the price of gas, which in itself, is also a variable. The electricity market involves power generators,, distributors, and retailers, all of which have different price and risk factors. Unlike the cost structure of other types of businesses where forecasting of cost is relatively easier, the cost of electricity market is very complicated. And, if there are more power plants (power generators) the field of competition widens excacerbating retail price stability, which is already a chess game involving hedging decisions and some element of forecasting costs and tariff movements over quarterly periods, etc. Hyflux knew this risk. But they thought they could absorb this risk because they could reduced their water treatment production cost using power generated by their own power plant. However, the cost being saved was not enough to cover the loss in power generating cost and sales, and their books had taken on an additional liability in capital cost (Tuas plant) which was not core to their main business and was financed by additional loans. In other words, from a very elementary viewpoint they could not continue to throw good money over bad money. The power plant operation was killing the goose that lay their golden egg (the water generation business). Remember one director hinted in the press that they were misled (by government officials). Maybe Hyflux management was cajoled into building an additional power plant by the government and given some form of unofficial "guarantee" of a lifeline should they encounter financial hiccups, or it was just a misunderstanding by Hyflux management who view it to be so, we don't know because we are not privy with the discussions Hyflux had with government officials, notably from Singapore Energy Authority, which regulates power resources in Singapore not PUB (which only governs water resources and supply). Just to show how complicated the pricing system in the electricity market is, last year when there was a pricing crisis with a rise in tariff and hence overall cost, several retailers dropped out of the market and their clients had to emigrate to other retailers. That's how complicated it is to forecast electricity cost.
@@CCLow-jr7um But the investors in particular the retirees, who invested heavily in the perpetual bond, didn't know of this collusion. The collusion with PUB is confirmed by you as you reveal that fact.
No. She was simply a fraud. Paid herself obscene bonuses even when the company was losing money. Falsified accounts with the auditors.
Two things sank Hyflux. The first was governent push to use LNG for power generation instead of fuel oil. The incentives to switch was so attractive power generating companies increase thei capacity lead to excess capacity and a drop in power prices. The 2nd mistake was failure of Hyflux in its feasibility study to build a power plant. It assumed the price of power will not decline. It did because of over-capacity in the power generation in Singapore. Hyflux had a dysfunctional board. Independent directors assumed CEO knew what she was doing because she was the largest shareholder - a big mistake.
I bought one of their water purifiers and a few months later they upgraded their replacement filters which doesn't fit the existing ones. Which means I had to buy a new water jug. Short story I was fucked. Way to screw with your customers.
Why is the highly paid Auditing companies did not find the mistakes much earlier...after all they signed off on the annual financial report...what is their responsibility in misleading the public?
The company is still listed....the bleak outlook of ever getting back any money back to investors weigh heavily..why were the directors and bank and auditors all made this mistake...i remember one of the directors was a prominent law professor and many would have been sufficiently knowledged in accounting to know what is being reported etc....There is no information on what exactly happened...how no one knew of these mistakes...bith within and outside like auditors???...
Singapore need to show Malaysia that Singapore can be independent of potable water supply from PUB waterworks in Kota Tinggi
In terms of audit, auditing is based on sample, there are no mistakes in audits. It is so easy for companies to falsify documents and transaction records provided that the company knows all the loop holes and covers it perfectly. In this case, this woman must be very good in covering up her tracks and she knows the ins and outs of what the auditor's are verifying and looking for.
She employed useless people which I had spoken to them previously extremely incompetent. I was laughing how long can they last … finally 🎉
You must be more brilliant than them.. U must be better than them now?
hyflux basically operated on an asset light venture model while being financed by debt.
Hyflux’s eventual fate came as no surprise, given its mismanagement over many years, and business decisions were pretty much a one-person show. What’s really troubling was how it marketed itself to the public as a “sustainable” company investing in essential services, misleading many John Doe investors into putting their life savings in hoping for stable returns to serve their retirement needs. A good cautionary tale to those who think too highly of large businesses claiming themselves to be future-ready seeking long term growth.
ASSISTED BY THE GOVT WHOSE LEADERS GRACED HER OPENING CEREMONY AND GAVE HER PUBLICITY THROUGH TALKS AND THUS LED TO MANY RETIREES TO INVEST IN THE PREFERENCE SHARES. SOME SAID THE RETIREES WERE GREEDY, WHICH IS NOT TRUE, AS INFRASTUCTURE SHARES SHOUD BE SAFE AS TEMASEK HOLDING ALSO INVESTED.BUT TEMASEK LEFT WITHOUT INFORMING THE RETIREES WHO WERE LEFT HOLDING THE BABY. WORSE PUB TOOK THE DESALINATION PLANT, WHICH IS THE AGREEMENT WITH THE COMPANY, AN AGREEMENT UNKNOWN TO THE INVESTORS BEFORE THE COLLAPSE. FAIR TO THE INVESTORS? NO, AS THE SHARES WERE SOLD AS SAFE WHICH IT SHOULD BE AS PUB IS A BUYER OF THE WATER AND DURING BAKRUPTCY THE PLANT SHOULD BE ABLE TO REPAY THE PREFERNCE SHARE HOLDERS. BUT THE AGREEMENT WITH PUB WAS NOT DISCLOSED TO THE PUBLIC SO INVESTORS OF THE PREFERENCE SHARES LOST THEIR MONEY.
Last year: We‘re green! Buy our stock.
This year: We’re AI! Buy our stock.
Next year: Any guesses?
Next year: this is the social issues we support! Invest in me! LGBT, feminism, shallow climate change activist supporter woo hoo
Lesson here: Fly too high, its a long way down.
And to think my secondary school made us read all about Olivia Lum, bet they didnt know what will happen in the future..
I was a intern here back in 2012 😂😂😂😂😂. It started smoking long ago
Just a chemist not a shrewd businesswoman!
Recommend that you also do coverage on Hin Leong also.
Kinda hard to take this seriously when my man pronounces it as "Ernest" and Young, and "Monterey" Authority of Singapore.
😂
She follows the China business model such as Evergrand
Never be greedy. Just look into the needs of the Republic & join hands with the Singapore Gov. Period
.... Promoting a scam like masterwork just put a big question mark on the channel.... Poor background check or no integrity, either way, nothing good
did you do background check on the people you did background check with?
Whether she gets jailed or not, she will still be a rich woman at the end.
This company over stretched into power generation instead of concentrating on it's core expertise. When the energy price drops, the company bled.
Till date nothing is paid to preference shareholders despite fake reporting of financial data. Given the judgement is done, when will the Hyflux perp holders get back their funds? A fraction is still better than nothing!
I was with you till the ending when you tied in the 34000 affected users to 2023 S&P performance??
Hyflux collapsed is due to GLC, with unlimited backing, coming into the market to compete with Hyflux.
Does she still worship at City Harvest ?
You mean New Creation Church, pls get your facts right.
Late = dead , Early not dead
Passed = dead , failed not dead
I don't understand English 😅🤣😂
I'm a Contracts Mgr Claims Consultant. Hyflux were inexperienced
Ernest and Young love her... That's all the evidence you need for fraud...
5 days a week
no homework
no assignment
assignment for weekend
weekend music sport projects
Fueled by false hopes
the CEO just take all profit and run off, thats all!
I was headhunted once by hyflux.
I went on time for the interview but I had to wait one hour for the HR.
She apologized for the delay, siting another meeting overrun.
But my opinion of the corporate culture already evaporated.
Punctuality is the most basic respect anyone can give to another human beings
Later, I monitored Hyflux closely.
Its fall can be contributed to the CEO iron hand mgmt + working too closely with Chyna which really sucks up their cash flow dry.
I hope singapore government can take over the hyflux technology bec it is a cool idea.
salim and medco group still hold the share ?
Trust the PAP they said, you will be successful!!!!
I still dunno what exactly went wrong. All your answers are so vague. "Financial mismanagement" lmao. So general and vague.
😂go ask Ho jink
You didn't mention the Temasek connection
This is where the money lost the most, bad investment
@@quekchittiew3173 But Temasek left, and the retirees were left holding the baby.
This is a Corporate World thingy. An Ordinary Joes don't bother much. 🧒👦🧔
this is what happens when you try to reinvent something as basic as water. New Water is a bad idea.
Another Elizabeth Holmes
I don’t agree. Theranos was a dud from the start whereas Hyflux has a viable membrane technology. Olivia Lum made several risky gambles and lost. Businesses are all about risk taking. Had Olivia Lum survived those mistakes she could have been hailed as a visionary businesswoman. Elizabeth Holmes was a fraud from Day 1 and no chance at all to win.
OK Lim, Hyflux, what next 😅
Hyflux is the younger sister of Electrolux 🤣
Malaysian origin
Yes
Corrupted mentality is prevalent among them...
@@bell-xk5dd bad karma for you
@@parnamsaini4751
Better than Malaysia going bankrupt...🤣
@@bell-xk5dd bad karma..more to come
Fake video
Ambitious = greed......?...i dont understand the difference.
Over-ambitious is equivalent to greed.
Bad investment that makes hyflux go bankrupt ,
Con women
I haven't figured out what happened so far.😂
Not con women, but a female corp boss who rejected and refused herself coaxed into politics, under thumb of Tumasek, turn Hyflux to GLC add all the legally added multi-lateral / levels of corruptions enriching the cunniest elite.
See what happens to the Lee siblings. Who forced opened LYK's attache? And can't shut it back? LKY had better precisional engineers vs. James Bond 007 toys inventors.
No doubt Hyflux Dame was stigmatised, for refusing to be lured into political career with legally endowed mega corporate tricks and the killings and defamations process was applied. Truth will prevails, nothing is permanent vs. impermanence i.e Annica.
Greed.
Common in Singapore an illusion of a nation
Pride & greed!
Situation
Content feels lacking in depth on research and substance. Akin to a 10sec tiktok shorts. Would prefer other channels for this genre.
What company is that ??? Never heard of this company in S'pore.
She spent more effort in promoting women empowerment than actually doing her job. 😅😂😂😂
Collapsed？
10:20 Looks like she is in Malaysia.
Its called tooas n masterworks be wary
last
HELLO NOT ONLY HYFLUX MANY MANY LISTED SINGAPORE HAD DISAPPEARED OR BANKRUPT. IN SINGAPORE ONLY PROPERTY CO. CAN SURVIVE ALL WILL SOON BANKRUPT.
They started to fall the moment they start listing in stock market. This is not an isolated case theres handfull of companies who started to fall after listing in stock market