Singapore Airlines

[Shiyi]

"MOST directors of Singapore Airlines (SIA) have chosen to let their rights mandatory convertible bonds (MCBs) lapse without exercising them, despite proposing the MCB rights issuance to shareholders as part of larger cash call in April.
SIA chief executive Goh Choon Phong let his provisional allotments in respect of 3.34 million rights MCBs lapse last week, according to a Singapore Exchange filing on Monday.
SIA non-executive chairman Peter Seah also let his allotment of 73,160 rights MCBs lapse last week, filings showed. However, both Mr Goh and Mr Seah have applied to take up all their rights shares, and their actual allocations will be decided at a later date. "

SIAS needs to questioned the CE and chairman already... what this is?? :O :O :O
help the moms and pops opmi!!!!! :O

SIAS chief has had a Q&A session with SIA chief.
And he apparently was very pleased with the conversation. Toward the end, SIAS chief said to the effect that we small shareholders are behind you, SIA, the national icon. And he looks forward to taking SIA flight to Australia to visit his daughter.

[¯|_(ツ)_/¯]

2 June 2020 SQ rights and MCB result
(click for sgx announcement)

Valid acceptance - 96.2%
Excess applications - 23.3%
Total - 119.5%

CDP will send by ordinary post to inform you on the number of rights shares allocated to you.
Refund for invalid or unsuccessful application will be within 3 business days after trading start.
Trading start on 8 June 2020 9am.

MCB
Valid acceptance - 59%
Excess applications - 0.6%
sub-total - 59.6%
Undertaking subscription - 40.4%
Total - 100%

Stay home and stay safe, valuebuddies.

[¯|_(ツ)_/¯]

8 Jun 2020 $10b liquidity secured SIA
https://links.sgx.com/FileOpen/NE-0920.a...eID=616760

8.8b Rights issued
0.9b Long Term loans secured on aircraft
0.5b Short Term unsecured loans
1.7b Roll over Line of Credit due in 2020 to 2021 and beyond

Options to raise MCB $6.2b

Note that new shares started to trade in SGX yesterday, MCB will start today.

Stay home and stay healthy, everyone.

[john]

"MOST directors of Singapore Airlines (SIA) have chosen to let their rights mandatory convertible bonds (MCBs) lapse without exercising them, despite proposing the MCB rights issuance to shareholders as part of larger cash call in April.
SIA chief executive Goh Choon Phong let his provisional allotments in respect of 3.34 million rights MCBs lapse last week, according to a Singapore Exchange filing on Monday.
SIA non-executive chairman Peter Seah also let his allotment of 73,160 rights MCBs lapse last week, filings showed. However, both Mr Goh and Mr Seah have applied to take up all their rights shares, and their actual allocations will be decided at a later date. "

SIAS needs to questioned the CE and chairman already... what this is?? :O :O :O
help the moms and pops opmi!!!!! :O

SIAS chief has had a Q&A session with SIA chief.
And he apparently was very pleased with the conversation. Toward the end, SIAS chief said to the effect that we small shareholders are behind you, SIA, the national icon. And he looks forward to taking SIA flight to Australia to visit his daughter.

SIA MCB
I am allotted the MCB shares but not neatly in multiple of 100 lots, so I have an odd lot of 50 MCB shares. How do I get rid of this odd lot or buy another odd lot of 50 to round off my holding? Don't the SGX provide at least temporarily for traders to do this? Any advice from the experienced forums will be greatly appreciated
John

[money]

"MOST directors of Singapore Airlines (SIA) have chosen to let their rights mandatory convertible bonds (MCBs) lapse without exercising them, despite proposing the MCB rights issuance to shareholders as part of larger cash call in April.
SIA chief executive Goh Choon Phong let his provisional allotments in respect of 3.34 million rights MCBs lapse last week, according to a Singapore Exchange filing on Monday.
SIA non-executive chairman Peter Seah also let his allotment of 73,160 rights MCBs lapse last week, filings showed. However, both Mr Goh and Mr Seah have applied to take up all their rights shares, and their actual allocations will be decided at a later date. "

SIAS needs to questioned the CE and chairman already... what this is?? :O :O :O
help the moms and pops opmi!!!!! :O

SIAS chief has had a Q&A session with SIA chief.
And he apparently was very pleased with the conversation. Toward the end, SIAS chief said to the effect that we small shareholders are behind you, SIA, the national icon. And he looks forward to taking SIA flight to Australia to visit his daughter.

SIA MCB
I am allotted the MCB shares but not neatly in multiple of 100 lots, so I have an odd lot of 50 MCB shares. How do I get rid of this odd lot or buy another odd lot of 50 to round off my holding? Don't the SGX provide at least temporarily for traders to do this? Any advice from the experienced forums will be greatly appreciated
John

I dont think it is a good idea to just buy 50 shares to make it a nice figure. The brokerage involved will be costly in terms of percentage. Similarly to sell 50 shares also dont look like a good idea, I would suggest you forget about owning the MCB in the first place

But if you are buying 4950 shares, or 9950 shares, perhaps the commissions will appear more worth it. i usually try to trade a minimum of 10k

i am using ocbc platform, they have this thing called the SGX unit shares that i can click on and trade like 1,2, 57 or 92 or any other ugly number of shares

[john]

"MOST directors of Singapore Airlines (SIA) have chosen to let their rights mandatory convertible bonds (MCBs) lapse without exercising them, despite proposing the MCB rights issuance to shareholders as part of larger cash call in April.
SIA chief executive Goh Choon Phong let his provisional allotments in respect of 3.34 million rights MCBs lapse last week, according to a Singapore Exchange filing on Monday.
SIA non-executive chairman Peter Seah also let his allotment of 73,160 rights MCBs lapse last week, filings showed. However, both Mr Goh and Mr Seah have applied to take up all their rights shares, and their actual allocations will be decided at a later date. "

SIAS needs to questioned the CE and chairman already... what this is?? :O :O :O
help the moms and pops opmi!!!!! :O

SIAS chief has had a Q&A session with SIA chief.
And he apparently was very pleased with the conversation. Toward the end, SIAS chief said to the effect that we small shareholders are behind you, SIA, the national icon. And he looks forward to taking SIA flight to Australia to visit his daughter.

SIA MCB
I am allotted the MCB shares but not neatly in multiple of 100 lots, so I have an odd lot of 50 MCB shares. How do I get rid of this odd lot or buy another odd lot of 50 to round off my holding? Don't the SGX provide at least temporarily for traders to do this? Any advice from the experienced forums will be greatly appreciated
John

I dont think it is a good idea to just buy 50 shares to make it a nice figure. The brokerage involved will be costly in terms of percentage. Similarly to sell 50 shares also dont look like a good idea, I would suggest youC forget about owning the MCB in the first place

But if you are buying 4950 shares, or 9950 shares, perhaps the commissions will appear more worth it. i usually try to trade a minimum of 10k

i am using ocbc platform, they have this thing called the SGX unit shares that i can click on and trade like 1,2, 57 or 92 or any other ugly number of shares

Thanks for the advice. Yes if I buy will certainly get much more than 50 shares. This bond pays more than keeping money in the bank with low low interest, so I don't mind holding it.

[Squirrel]

"MOST directors of Singapore Airlines (SIA) have chosen to let their rights mandatory convertible bonds (MCBs) lapse without exercising them, despite proposing the MCB rights issuance to shareholders as part of larger cash call in April.
SIA chief executive Goh Choon Phong let his provisional allotments in respect of 3.34 million rights MCBs lapse last week, according to a Singapore Exchange filing on Monday.
SIA non-executive chairman Peter Seah also let his allotment of 73,160 rights MCBs lapse last week, filings showed. However, both Mr Goh and Mr Seah have applied to take up all their rights shares, and their actual allocations will be decided at a later date. "

SIAS needs to questioned the CE and chairman already... what this is?? :O :O :O
help the moms and pops opmi!!!!! :O

SIAS chief has had a Q&A session with SIA chief.
And he apparently was very pleased with the conversation. Toward the end, SIAS chief said to the effect that we small shareholders are behind you, SIA, the national icon. And he looks forward to taking SIA flight to Australia to visit his daughter.

SIA MCB
I am allotted the MCB shares but not neatly in multiple of 100 lots, so I have an odd lot of 50 MCB shares. How do I get rid of this odd lot or buy another odd lot of 50 to round off my holding? Don't the SGX provide at least temporarily for traders to do this? Any advice from the experienced forums will be greatly appreciated
John

I dont think it is a good idea to just buy 50 shares to make it a nice figure. The brokerage involved will be costly in terms of percentage. Similarly to sell 50 shares also dont look like a good idea, I would suggest youC forget about owning the MCB in the first place

But if you are buying 4950 shares, or 9950 shares, perhaps the commissions will appear more worth it. i usually try to trade a minimum of 10k

i am using ocbc platform, they have this thing called the SGX unit shares that i can click on and trade like 1,2, 57 or 92 or any other ugly number of shares

Thanks for the advice. Yes if I buy will certainly get much more than 50 shares. This bond pays more than keeping money in the bank with low low interest, so I don't mind holding it.

I would recommend you go back on the thread and read it through. The MCBs are not capital guaranteed and can result in significant losses under certain situations when its converted to equity.

If you are approaching this as if it’s a fixed deposit or a typical bond, please think twice.

[Porkbelly]

As the name suggests, the MCB will be converted into ordinary shares upon maturity, which means that instead of cash, bondholders will be paid an equivalent amount of SIA shares based on a conversion price of SGD 4.84 (subject to adjustments by SIA).
I think there is too much speculation about the MCB being redeemed before maturity. This is probably the 'hook'... But, yes... I would second Squirrel's recommendation to go back to read the thread.
Or you can read Fundsupermart's write up:

https://secure.fundsupermart.com/fsm/art...ghts-issue

[john]

SIAS chief has had a Q&A session with SIA chief.
And he apparently was very pleased with the conversation. Toward the end, SIAS chief said to the effect that we small shareholders are behind you, SIA, the national icon. And he looks forward to taking SIA flight to Australia to visit his daughter.

SIA MCB
I am allotted the MCB shares but not neatly in multiple of 100 lots, so I have an odd lot of 50 MCB shares. How do I get rid of this odd lot or buy another odd lot of 50 to round off my holding? Don't the SGX provide at least temporarily for traders to do this? Any advice from the experienced forums will be greatly appreciated
John

I dont think it is a good idea to just buy 50 shares to make it a nice figure. The brokerage involved will be costly in terms of percentage. Similarly to sell 50 shares also dont look like a good idea, I would suggest youC forget about owning the MCB in the first place

But if you are buying 4950 shares, or 9950 shares, perhaps the commissions will appear more worth it. i usually try to trade a minimum of 10k

i am using ocbc platform, they have this thing called the SGX unit shares that i can click on and trade like 1,2, 57 or 92 or any other ugly number of shares

Thanks for the advice. Yes if I buy will certainly get much more than 50 shares. This bond pays more than keeping money in the bank with low low interest, so I don't mind holding it.

I would recommend you go back on the thread and read it through. The MCBs are not capital guaranteed and can result in significant losses under certain situations when its converted to equity.

If you are approaching this as if it’s a fixed deposit or a typical bond, please think twice.

Thanks all for your good advice. I read the terms again, yes if the bond not called before redemption, it is converted to SIA shares at around $4.84 each. I tend to believe Govt will support SIA comes what may and suitable talents will be seconded or recruited if need be to ensure best possible performance if current management unable to. So, company should be worth more than $4.84 in 10 years time. Anyway, as a precaution, will not buy any more, just put it aside and keep fingers crossed.

[oys-ter]

SIA MCB
I am allotted the MCB shares but not neatly in multiple of 100 lots, so I have an odd lot of 50 MCB shares. How do I get rid of this odd lot or buy another odd lot of 50 to round off my holding? Don't the SGX provide at least temporarily for traders to do this? Any advice from the experienced forums will be greatly appreciated
John

I dont think it is a good idea to just buy 50 shares to make it a nice figure. The brokerage involved will be costly in terms of percentage. Similarly to sell 50 shares also dont look like a good idea, I would suggest youC forget about owning the MCB in the first place

But if you are buying 4950 shares, or 9950 shares, perhaps the commissions will appear more worth it. i usually try to trade a minimum of 10k

i am using ocbc platform, they have this thing called the SGX unit shares that i can click on and trade like 1,2, 57 or 92 or any other ugly number of shares

Thanks for the advice. Yes if I buy will certainly get much more than 50 shares. This bond pays more than keeping money in the bank with low low interest, so I don't mind holding it.

I would recommend you go back on the thread and read it through. The MCBs are not capital guaranteed and can result in significant losses under certain situations when its converted to equity.

If you are approaching this as if it’s a fixed deposit or a typical bond, please think twice.

Thanks all for your good advice. I read the terms again, yes if the bond not called before redemption, it is converted to SIA shares at around $4.84 each. I tend to believe Govt will support SIA comes what may and suitable talents will be seconded or recruited if need be to ensure best possible performance if current management unable to. So, company should be worth more than $4.84 in 10 years time. Anyway, as a precaution, will not buy any more, just put it aside and keep fingers crossed.

The most important thing is to be able to distinguish between surviving and prospering. Certainly, Govt will ensure that SIA survives but prospering is another totally different matter.