Read? Saving, Lending and Investing (6) SINGAPORE - The High Court has approved an application by embattled water treatment firm Hyflux and three of its subsidiaries for leave to convene a scheme meeting with all its creditors over its proposed restructuring. It can now proceed with a scheme meeting on April 5 with unsecured creditors including noteholders and 29 banks, which make up one creditor class, as well as perpetual securities and preference shareholders, who make up another creditor class. Under the reorganisation plan, filed with the High Court last week, some 34,000 registered holders of Hyflux perpetual securities and preference shares, which are owed $900 million, will receive a total of $27 million in cash and a 10.26 per cent share of the reorganised company. CW8888: This Hyflux has re-enforced Uncle8888' own belief in lending and investing. As retail, we have control over lending and investing; till now he never believe in lending his money in hope of Return of Capital and get caught in the illusion of safety of money. In the market; by nature nothing is safe from predators wiping out helpless minority to enrich themselves!
Lehman Brothers minibond; and Hyflux Perf and Perp will go into History to show that no one can see that far into future to ensure safety of our money. At least in investing; there is still some hope for multi-baggers :-)
Last updated : 14 Sep 2019
I am 63 yrs old uncle living in HDB heartland who has achieved financial independence @ 56 and finally retired @ 60 from full-time job as employee on 1 Oct 2016.
Single household income since 1995 with three children.
Currently, two sons and one daughter are working.
I have been doing 20 years of long-term investing and short-term trading in Singapore stock market only since Jan 2000 so I am that so-called Panda or Koala in the investment world.
I am currently executing my Three Taps solution model to maintain sustainable retirement income for life till 2041 @ 85 yrs old.
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