Even as the water treatment firm Hyflux comes under the spotlight with the reported loses of $115.6m and when they are reported to be losing huge amounts of cash and building projects, the founder of the firm, Olivia Lum, received more than $60m in dividends from her 34% ordinary shareholdings.
This is also reportedly on top of her receiving a further slary, benefits and bonuses of between $750,000 and $1 million in 2017. This has prompted the Singapore investor watchdog to ask why she is paid such exhorbitant amounts when the company is making huge loses and needs to be bailed out. The company currently has a debt of $2.95 billion as of March 2018. The company also has been generating negative cash flow every year since 2009.
Hyflux though, have been reporting profits in each year prior to 2017, despite their mouth watering negative operating cash flow. Is there something they are hiding?