Press Release

Press Statement: Utico’s revised offer – a bombshell for P&Ps

We refer to Hyflux’s announcement on 27 May 2020 enclosing Utico FZC’s (“Utico”) letter dated 26 May 2020 (“26 May Letter”). SIAS understands Utico’s position to be that, because Utico’s deadline of 26 May 2020 (“Long-Stop Date”) has passed without, among...

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Commentary: Shedding light on Singapore Airlines’ rights issue

First published in Straits Times on 21 May 2020 Many Singapore Airlines shareholders have approached the Securities Investors Association (Singapore), or Sias, seeking to clarify if they should subscribe to the upcoming rights issue. While Sias is not in a position to...

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Press Statement: Dialogue session between SIAS and CEO, Mr Goh Choon Phong of SIA on SIA’s Rights Issue

Many SIA shareholders have contacted SIAS to question the rationale for the large cash call that SIA is making with the 3 for 2 shares rights issue and the mandatory convertible bonds (MCBs) rights issue. SIAS has reached out to...

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Responses from SIA to SIAS – Questions for SIA’s EGM

Reply from SIA to SIAS Questions for SIA’s EGM published on 22 April 2020 1. Why is SIA raising such a large amount? How did you determine this amount? The COVID-19 pandemic has led to a global collapse in the demand for...

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Questions for SIA’s EGM

Introduction: The Covid-19 pandemic has crippled airline operations worldwide. Now  Singapore Airlines (SIA) is seeking to raise S$5.3 billion in new equity and S$3.5 billion via 10-year mandatory convertible bonds (MCBs). Its largest shareholder Temasek Holdings, has thrown its support to...

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Commentary: Understand firms’ cash needs when it comes to issue of dividends

First published in Straits Times on 21 April 2020 During this difficult time, it may be necessary to sacrifice short-term needs to ensure long-term corporate survival Market regulators have recently stepped up to the plate with timely measures to ease financial pressure...

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Press Statement: Guidance to REIT investors following Covid-19 pandemic measures

The effects of the Covid-19 pandemic is affecting all businesses including REITs. The current Circuit Breaker implemented on 7th April 2020 in order to pre-empt escalating COVID-19 infections, except for providers of essential services, all work and schooling is now...

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Press Statement: RegCo’s Initiatives

SGX RegCo has just issued an announcement just now, in which it says: "Accordingly, SGX RegCo will provisionally suspend the half-yearly reviews on the first market days of June 2020 and December 2020 to place issuers on the Financial Watch-List...

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Press Statement: Guidance to shareholders for AGMs during COVID-19 pandemic

The annual AGM season for companies will soon be upon us. As companies continue with their operations, they must also put in measures to ensure compliance with Ministry of Health’s (MOH) advisory notices like ensuring safe distancing. The latest MOH...

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Press Statement: SIAS to hold independent briefings to Hyflux P&Ps

Since the signing of restructuring agreement (RA) of Hyflux with Utico, many retail preference and preferential (P&P) holders have approached SIAS for clarification on the proposed scheme for P&P holders. To this extent, SIAS and it’s advisors, Drew & Napier...

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