Press Releases

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

July 15, 2021

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...

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

July 7, 2021

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”),...

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Responses from SIA to SIAS – Questions on MCB Issuance

June 1, 2021

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...

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Press statement – Questions to SIA on MCB Issuance

May 27, 2021

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...

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

May 17, 2021

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...

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Press Statement – SGX Consults On SPACS Listing Framework

March 31, 2021

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...

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

March 18, 2021

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...

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

February 26, 2021

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...

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Press Statement – Hope for Hyflux P&Ps with improved terms from SGI

November 15, 2020

As announced by Hyflux on 13 November 2020, SGI issued a non-binding and conditional term-sheet proposing various terms for Hyflux’s creditors.  In SGI’s term-sheet, P&P holders are offered a cash consideration of S$41 million (which represents a 4% recovery) and...

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Press Statement – SGI’s expression of interest to Hyflux

October 13, 2020

SIAS refers to the latest announcement by Hyflux regarding the expression of interest (EOI) by Strategic Growth Investments LLC (SGI). The EOI provides for a total of $32m in cash for PnPs and a 10% equity stake in the form...

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