180805 Hyflux timeline Chng - The Straits Times · 8/5/2018 · Source: HYFLUX PHOTOS: ST FILE,...
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Key milestones 1989 Ms Olivia Lum incorporates Hydrochem (S) Pte Ltd, the predecessor of Hyflux Pte Ltd, on June 20, 1989, and begins operations with two employees. 2000 In preparation for a public listing, Hyflux Pte Ltd is incorporated on March 31, 2000 to assume the role of an investment holding company for the group. Hydrochem becomes a wholly owned subsidiary of Hyflux. On Dec 20, 2000, Hyflux Pte Ltd is converted to a public limited company and the name is changed to Hyflux Ltd. Hyflux is the first water treatment company to be listed in Singapore. • Jan 9, 2001: Hyflux launches its initial public offering. • Jan 17, 2001: Hyflux shares begin trading on the secondary board of the Singapore Exchange (SGX). • April 14, 2003: Hyflux is promoted to the SGX mainboard. 2001 Hyflux awarded its first municipal water treatment project in Singapore to supply and install the process equipment for the Bedok Newater Plant, the country’s first Newater plant. June 2011 Hyflux chairman and group CEO Olivia Lum becomes the first Singaporean and the first woman to win the prestigious Ernst & Young World Entrepreneur of the Year. Feb 27, 2018 Hyflux posts its first full-year net loss since listing of $116.4 million for FY2017, due to weak electricity prices across the Singapore power market. Tuaspring registers net loss of $81.9 million for FY2017. May 2018 Hyflux suspends trading of its shares and related securities and starts a court-supervised reorganisation process. In June, the High Court grants the firm a six-month lifeline until around mid-December to stave off its creditors. October 2018 Maybank, Hyflux’s largest secured lender, gives the firm until Oct 15, 2018 to find a buyer for Tuaspring. The proceeds will be used to pay 29 lenders and other creditors. Binding bids have to be made by Oct 1. April 2011 The group secures Singapore’s second and largest seawater desalination project and proposes to incorporate an on-site 411MW combined cycle power plant to produce electricity for Tuaspring Integrated Water and Power Project. The power plant becomes fully operational in 2016. January 2003 Hyflux is named the preferred bidder by PUB to build, own and operate Singapore’s first seawater reverse osmosis desalination plant – SingSpring. Source: HYFLUX PHOTOS: ST FILE, ERNST & YOUNG, HYFLUX SUNDAY TIMES GRAPHICS
Transcript of 180805 Hyflux timeline Chng - The Straits Times · 8/5/2018 · Source: HYFLUX PHOTOS: ST FILE,...
Key milestones1989Ms Olivia Lum incorporates Hydrochem (S) Pte Ltd, the predecessor of Hy�ux Pte Ltd, on June 20, 1989, and begins operations with two employees.
2000In preparation for a public listing, Hy�ux Pte Ltd is incorporated on March 31, 2000 to assume the role of an investment holding company for the group. Hydrochem becomes a wholly owned subsidiary of Hy�ux. On Dec 20, 2000, Hy�ux Pte Ltd is converted to a public limited company and the name is changed to Hy�ux Ltd. Hy�ux is the �rst water treatment company to be listed in Singapore. • Jan 9, 2001: Hy�ux launches its initial public offering.• Jan 17, 2001: Hy�ux shares begin trading on the secondary board of the Singapore Exchange (SGX). • April 14, 2003: Hy�ux is promoted to the SGX mainboard.
2001Hy�ux awarded its �rst municipal water treatment project in Singapore to supply and install the process equipment for the Bedok Newater Plant, the country’s �rst Newater plant.
June 2011Hy�ux chairman and group CEO Olivia Lum becomes the �rst Singaporean and the �rst woman to win the prestigious Ernst & Young World Entrepreneur of the Year.
Feb 27, 2018Hy�ux posts its �rst full-year net loss since listing of $116.4 million for FY2017, due to weak electricity prices across the Singapore power market. Tuaspring registers net loss of $81.9 million for FY2017.
May 2018Hy�ux suspends trading of its shares and related securities and starts a court-supervised reorganisation process. In June, the High Court grants the �rm a six-month lifeline until around mid-December to stave off its creditors.
October 2018Maybank, Hy�ux’s largest secured lender, gives the �rm until Oct 15, 2018 to �nd a buyer for Tuaspring. The proceeds will be used to pay 29 lenders and other creditors. Binding bids have to be made by Oct 1.
April 2011The group secures Singapore’s second and largest seawater desalination project and proposes to incorporate an on-site 411MW combined cycle power plant to produce electricity for Tuaspring Integrated Water and Power Project. The power plant becomes fully operational in 2016.
January 2003Hy�ux is named the preferred bidder by PUB to build, own and operate Singapore’s �rst seawater reverse osmosis desalination plant – SingSpring.
Source: HYFLUX PHOTOS: ST FILE, ERNST & YOUNG, HYFLUX SUNDAY TIMES GRAPHICS
