Stefanie Yuen Thio comments in LHZB: “凯发集团是否违反上市条例 (Did Hyflux violate listing rules?)”

CLOSE

Directory

Thio Shen Yi, SC

Joint Managing Partner

Litigation

Stefanie Yuen Thio

Joint Managing Partner

Corporate

Derek Loh

Partner

Litigation

Jennifer Chia

Partner

Corporate

Melvin Chan

Partner

Litigation

Ian Lim

Partner

Litigation

June Ho

Partner

Corporate

Kelvin Koh

Partner

Litigation

Ong Pei Ching

Partner

Litigation

Mark Jacobsen

Partner

Corporate

Felicia Tan

Partner

Litigation

Jeffrey Chan, SC

Senior Director

Litigation

Prof Tang Hang Wu, PhD

Consultant

Litigation

Prof Hans Tjio

Consultant

Corporate

Kenneth Chua

Director

Litigation

Mijung Kim

Director

Litigation

Tania Chin

Director

Litigation

Leon Lim

Director

Corporate

Nanthini Vijayakumar

Director

Litigation

Nicholas Ngo

Associate Director

Litigation

Kevin Elbert

Associate Director

Litigation

Timothy Yong

Associate Director

Litigation

Eugene Neo

Associate Director

Litigation

Benjamin Bala

Associate Director

Litigation

Vu Lan Nguyen

Associate Director

Litigation

Stephanie Chew

Associate Director

Litigation

Ernest Low

Associate Director

Corporate

Elizabeth Tan

Associate Director

Litigation

Crystal Tan Shi Ying

Associate Director

Litigation

Brenda Chow

Senior Associate

Corporate

Heather Chong

Senior Associate

Corporate

Nicole Lee

Senior Associate

Corporate

Tay Quan Li

Senior Associate

Litigation

Lyn Toh Leng

Senior Associate

Corporate

Angela Chai Rui Min

Senior Associate

Litigation

Arthur Chin Yen Bing

Senior Associate

Litigation

Joshua Phang Shih Ern

Senior Associate

Litigation

Chow Jian Hui

Senior Associate

Corporate

Jeanne Goh Enchi

Senior Associate

Litigation

Lau Tin Yi

Senior Associate

Corporate

Phoon Wuei

Senior Associate

Litigation

Terence Yeo

Senior Associate

Litigation

Juliana Lake

Senior Associate

Litigation

Kashib Shareef bin Ahmad Hussain

Associate

Corporate

Goh Min Yi

Associate

Corporate

Sherlyn Lim Li Xuan

Associate

Litigation

Vanessa Cheong Shu Qi

Associate

Corporate

Lee Shu Zhen

Associate

Corporate

Nikita Garg

Associate

Litigation

Annabelle Lee Jia Xin

Associate

Corporate

Ang Kai Le

Associate

Litigation

Glenn Ng Qiheng

Associate

Litigation

Isaac Tay Zhuo Yan

Associate

Litigation

Markus Low Yu Wen

Associate

Corporate

Nicholas Fu Wei Jun

Associate

Litigation

Krisly Aw Jiaxin

Associate

Corporate

Shawn Tan Yi Wei

Associate

Corporate

Stasia Ong Pei Qi

Associate

Litigation

Sarah Kim Mun Jeong

Associate

Litigation

News

17 April 2019

Stefanie Yuen Thio comments in LHZB: “凯发集团是否违反上市条例 (Did Hyflux violate listing rules?)”

Features Stefanie Yuen Thio

In a news article published on 17 April 2019 by Lianhe Zaobao on Singapore regulators reviewing disclosure issues involving struggling Singapore water and power firm Hyflux Ltd, Stefanie Yuen Thio commented: “该公司的披露和条规遵循遭受某些质问指责。作为负责任的监 管机构,金管局、新交所监管公司和会计与企业管制局得深入地检查 这些指责,包括投资者是否获得足够的信息评估他们的风险。虽然集 团一旦破产倒闭,利益相关者很不幸地将蒙受很大的损失,但并不是 每个企业失败都必定是一个管理不当的信号。小股东在找人怪罪是可以理解的,但管制者进行调查时 不能根据现在的条件来看以前的事。他们得了解管理团队当时面对的 情况。有些事情是可能无法预见的,例如电价大跌带来的如此灾难性 的影响。”

(Translation: “Some queries and allegations have been made about the disclosures and compliance by the company. As responsible regulators, the MAS, SGX Regco and ACRA have to look into these, including into whether investors have been provided sufficient information to assess their risks. And while it is unfortunate that stakeholders stand to lose a lot if the group is insolvent, not every corporate failure is necessarily a sign of mismanagement. It is understandable that retail shareholders are looking for someone to blame, but regulators cannot apply 20-20 hindsight when they investigate. They have to look at the circumstances facing the management team at the time. Some events were potentially not foreseeable, such as the tanking of electricity prices, which had such a catastrophic effect.”)

The story may be found here (LHZB)