Press Releases

Questions for SIA’s EGM

April 22, 2020

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

April 17, 2020

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

April 8, 2020

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

March 25, 2020

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

March 12, 2020

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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Letter to Hyflux Board dated 5 March 2020: Outstanding queries

March 6, 2020

Dear Members of Hyflux Board, We refer to our email dated 13 January 2020 (timestamped 3:29pm) and your email dated 19 February 2020 (timestamped 7:19pm). A: Outstanding queries...

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Letter from Hyflux Board to SIAS – Queries relating to the Utico Offer

March 4, 2020

Reply from Hyflux to SIAS Queries Hyflux Board for P&Ps on 13 January 2020 Dear Mr. Gerald, Thank you for your letter dated 13 January 2020, with reference to which this mail is sent on behalf of the Board of Directors (“Board”)...

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Press Statement: Time for virtual AGMs

February 27, 2020

SIAS welcomes the decision by SGX RegCo and ACRA to allow companies to postpone AGMs up to 30 June 2020 due to concerns about large-group meetings amid Covid-19. This is in response to concerns by shareholders who want to participate...

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Press Statement: SIAS and its advisors will remain independent in the face of statements made to incentivise them to promote the Utico deal

February 21, 2020

SIAS refers to the letter from Utico FZC’s (“Utico”) dated 28 January 2020 which was enclosed in an announcement made by Hyflux Ltd on the same day (the “Letter”). In the Letter, Utico refers to the monies it will contribute...

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Press Statement: Clarification on certain points raised at Utico FZC’s (“Utico”) town hall session for the holders of the perpetual securities and preference shares (“P&P holders”) held on 20 January 2020 (“Utico Townhall”)

February 4, 2020

Utico Townhall SIAS refers to the Utico Townhall meeting held on 20 January 2020. Certain statements were made at the Utico Townhall by the Utico team, which were either different from what SIAS understands the position to be or require clarification. ...

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