“There are a lot of questions that need answers,” said Ray Ho, a 65-year-old retiree who has invested in the company’s perpetual bonds. Investments were “a leap of faith. These are people’s life savings. How can you expect retail investors that are not-so-sophisticated to make the distinctions?”
SINGAPORE (April 1): A rare public protest in Singapore on Saturday underscored mounting anger among investors set to suffer sharp losses in one of the country’s highest-profile corporate debt restructurings.
The catastrophic slump of the once-vaunted water and power company, Hyflux Ltd., has stunned debtholders, who stand to lose about 90%. About 400 to 500 of those individual investors gathered in a downtown park known as the Speaker’s Corner on Saturday, carrying placards and posters.
