Hyflux should consider approaching Tom Cruise to sell Tuaspring

Hyflux has been planning to sell Tuaspring at its book value of $1.3 billion since February last year.

Obviously no investors are stupid enough to buy Tuaspring at Hyflux’s price: Tuaspring has been losing money since 2013.

5 months ago, CEO Olivia had still refused to budge on Tuaspring’s selling price and boasted: “We believe that we have a good asset, we have a good track record, still have a brand name. Why are we cornered? We know what we are doing.” BT

3 months later, Hyflux announced its Q1 results: Tuaspring net loss of $23.25 million.

Good asset + good track record = Quarterly loss of $23.25 million for Tuaspring?

On 19 July, Olivia told investors that “We don’t have a restructuring plan to share yet .. “.  After 17 months, there is no guarantee that Tuaspring will not continue to bleed investors.

Olivia appears to be still in denial; it’s mission impossible to sell loss-making Tuaspring at book value of $1.3 billion.

Or maybe not.  I think there’s one person who could possibly sell Tuaspring for $1.3 billion: Tom Cruise.1tom

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3 Responses to Hyflux should consider approaching Tom Cruise to sell Tuaspring

  1. Gunny says:

    Book value $1.3 bil. Yet NPV (nett present value) @ $700 bil with offers under $450 bil.

    Its no wonder Ms Lum is balking at the “offers” as it leaves nothing for the shareholders.

  2. Sinkie says:

    Tuaspring is burning cash at the rate of $250,000 A DAY.

    It is worth more dead than alive! Nobody offering much more than scrap value for this stinking pile of dog shit.

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