Press Releases

Press Statement: Offer by Keppel/SPH Deal

The privatisation offer by Keppel for SPH, values SPH shares at $2.099 per share. While offer price is above current trading price of SPH, it does represent a slight discount to NAV of $2.26 per share. However this is conditional...

Read More

Press Statement: Utico’s intended offer

UTICO FZC Attention: Mr. Richard Menezes Dear Richard, SIAS refer to: the hearing of HC/CWU 89/2021 and HC/CWU 90/2021 held before the Honourable Justice Aedit Abdullah (“Judge”) on 12 July 2021; and your draft affidavit which was circulated to the...

Read More

Press Statement: Questions to Sembcorp Marine on its latest proposed Rights Issue

To Sembcorp Marine Ltd Attn: Mr Wong Weng Sun, President & CEO There is great concern amongst Sembcorp Marine’s (SCM’s) minority shareholders. With the previous major S$2.1 billion rights issuance in 2020 barely reached its first-year mark, SCM is reaching out to...

Read More

Press Statement – ecoWise shareholders should allow time for company to address SGXRegCo’s directives

SIAS is seriously concerned with the developments at ecoWise and is aware of shareholders’ concerns regarding the issues and the disagreements between Mr Lee Thiam Seng (“Mr Lee”), who is the Chief Executive Officer, and Mr Cao Shixuan (“Mr Cao”),...

Read More

Responses from SIA to SIAS – Questions on MCB Issuance

Reply from SIA to SIAS Questions on MCB Issuance published on 27 May 2021 1. Regarding your intentions to exercise the rights Mandatory Convertible Bond (MCB) issue of S$6.2 billion, in a bid to strengthen the Singapore Airlines (SIA) Group’s financial...

Read More

Press statement – Questions to SIA on MCB Issuance

To: The Board of SIA Through: The Chief Executive Mr. Goh Choon Phong SIA announced its intention to issue an additional S$6.2 billion of mandatory convertible bonds (MCBs), which according to the announcement allows it to navigate the prolonged COVID-19 uncertainty, and to...

Read More

Press Statement – SIAS calls on Sakae to improve internal controls and implement internal audit reporting to AC

Highlights concerns in its review of Sakae 2020 annual report SIAS is seriously concerned about the erroneous accounting entries and internal control weaknesses in Sakae Holdings. The recent announcement by SGX Regco dated 12 May 2021, calls for Sakae Holdings Limited...

Read More

Press Statement – SGX Consults On SPACS Listing Framework

The Consult paper on SPACS Listing framework is now  and open for discussion. In recent years the interest in SPACS in US market has been exponential and within the first three months of this year alone SPACS...

Read More

Press Statement – Jardine Strategic – independent shareholders can invoke their rights to object to the offer

Independent minority shareholders of Jardine Strategic Holdings have raised concerns about their holdings in Jardine Strategic following the announcement of the acquisition and amalgamation by Jardine Matheson. They contend that the offer price of US$33 per share Jardine...

Read More

Letter to GuocoLeisure Holdings Limited – Appeal on behalf of minority shareholders of GL Limited

The Board of Directors GuocoLeisure Holdings Ltd c/o DBS Strategic Advisory Institutional Banking Group Dear Sirs, RE: Appeal on behalf of minority shareholders of GL Limited Shareholders of GL Limited, have reached out to SIAS, highlighting their concern that the current offer price of...

Read More