I read in Business Times (link) today that Hyflux perpetual security holders will only get a 3 per cent cash recovery under the current rescue plan. (I do not take the 7.6 per cent implied equity value into account. Unless Hyflux manages to dispose its loss-making Tusaspring project, I doubt there will be any value in the share post-restructuring.)
I was hoping for a 10 per cent cash recovery, but oh well, I have to accept the minuscule amount left after the entire saga. (That is, if the rescue plan goes through the approval on April 5.)
This is one of my regretful investment mistakes. The extremely high debt burden of the company had flashed out as a red flag to me during the initial public offering, but I had chosen to ignore it. The only consolation is that I did not put in a lot of money in the perpetual security.
I am thinking of compensating my wife for her hard-earned $5,000 when she had invested together with me. She had trusted me on my judgement and I had failed her.
It was a confluence of factors that resulted in the downfall of what was once a local stock market darling. But it is solely my fault for a lack of better judgement.
I was hoping for a 10 per cent cash recovery, but oh well, I have to accept the minuscule amount left after the entire saga. (That is, if the rescue plan goes through the approval on April 5.)
This is one of my regretful investment mistakes. The extremely high debt burden of the company had flashed out as a red flag to me during the initial public offering, but I had chosen to ignore it. The only consolation is that I did not put in a lot of money in the perpetual security.
I am thinking of compensating my wife for her hard-earned $5,000 when she had invested together with me. She had trusted me on my judgement and I had failed her.
It was a confluence of factors that resulted in the downfall of what was once a local stock market darling. But it is solely my fault for a lack of better judgement.
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