I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


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"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Tuesday 1 February 2011

NOTICE OF ARBITRATION FILED BY HYFLUX LIMITED

The board of directors of Hyflux Limited (“Hyflux”) wishes to announce that on 1 February 2011, Hyflux filed a Notice of Arbitration (the “NOA”) with the Singapore International Arbitration Centre (“SIAC”) to resolve disputes arising out of and/or in connection with a Shareholders Agreement dated 17 October 2003 (the “SHA”) between Hyflux and Ashcraft Holdings Pte Ltd (“Ashcraft”) (collectively the “Parties”) relating to the establishment of Hyflux Filtech (Singapore) Pte Ltd (“HFS”).

HFS together with HFS’s subsidiaries carry out water treatment services, sale of water treatment devices, plants and systems for industrial users in China.

On 17 January 2011, pursuant to and in accordance with the provisions of the SHA, Hyflux served a Deadlock Put Option Notice (the “Put Option Notice”) on Ashcraft, requiring Ashcraft to purchase all of Hyflux’s shares in HFS (the “Shares”).

Ashcraft disputed Hyflux’s right and entitlement to issue the Put Option Notice. The Parties then attempted to resolve their disputes amicably but were not able to arrive at a resolution. In the circumstances, pursuant to the dispute resolution provisions in the SHA, Hyflux filed the NOA through its lawyers Drew & Napier LLC.

Hyflux does not expect the arbitration to have a material adverse effect on its operations and the financial performance of the Hyflux group. HFS group's net profits as at financial year ended 31 December 2009 are S$3.1mil representing about 4% of the Hyflux group's net profit.

Hyflux will keep shareholders updated as and when there are material developments concerning this matter.

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