It has been an eventful few weeks:

1) PUB has indicated that they will be taking over Tuaspring (water component) for $0 if the defaults are not rectified (mostly a done deal). Whether it is due to our petition or not, we do not know as we have not gotten any official reply. In any case, our petition did not ask for a takeover for free.

2) Salim has indicated that they are not happy with the current developments and it is looking highly likely that they will walk away.

3) For now, voting on the existing deal is still happening on 5th April as originally planned (take note location changed to Star Vista). If Salim is insistent on walking away, the voting might become a meaningless exercise.

4) One of our fellow investors have gotten a permit for a Hyflux event (gathering, protest, meeting, call it whatever you want) on 30 March from 3-4pm at Hong Lim Park. If we want PUB to change their mind about taking over for free (no matter how remote the chance), please show up to support wearing a black top. We have arguments based on MOF guidelines for PPP projects that the takeover price should be fair (eg construction cost).

As things are pretty dynamic, please keep a lookout for latest updates here: 

https://www.hyflux.com/financial-reorganisation-exercise/scheme-meetings/

https://www2.sgx.com/securities/company-announcements?value=HYFLUX%20LTD&type=company

We are entering the final lap and I expect more twists to come.