Despite the two town hall meetings with stakeholders facilitated by the Securities Investors Association (Singapore) recently, many relevant questions regarding Hyflux's past operations and financial performance were not answered satisfactorily.
Hence, it is heartening to read that Sias has followed up with a letter and a list of questions to Hyflux's board of directors (Hyflux queried over CEO's remuneration, Feb 11).
Many mom-and-pop investors have poured their money and life savings into perpetual securities after being enamoured with Hyflux's earlier performance and public pronouncements.
In the light of the many unanswered questions, the relevant authorities should initiate an investigation into Hyflux's past operations and financial performance.
In addition, the restructuring process should not be allowed to proceed till the investigations are completed.