Singapore Dividend Cheque in USD

[weijian]

I just tried out SGX direct crediting service for my J C&C shares dividend issued in USD. C&C gave at that point in time rate was 1.392. What I got in return from SGX DCS is 1.37+. Bad. Today the rate is 1.388.

I do have similar experience with my JCC shares. It seems like there is a spread of at least 1% to prevailing rates?

If we have a substantial share, might be more worthwhile to mail back the election form next time.

For JCC, it seems like there wouldn't be an election form moving forward:

1. The Company will not be offering a currency election for the Interim Dividend to be paid in S$.

2. Due to the CDP Currency Conversion Service, depositors who are on CDP’s direct crediting service (“DCS Depositors”) will nevertheless receive the Interim Dividend in S$ (at the exchange rate determined and applied by CDP’s partner bank) in their designated Singapore Dollar bank accounts. To receive the Interim Dividend in US$, DCS Depositors must opt out of the CDP Currency Conversion Service at least 3 business days before the payment date for the Interim Dividend.