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Sgsw0chh Member	25-May-2021 16:33        Sgsw0chh About Contact  Quote this Post!
x 0   x 0  Alert Admin	The worst is over. Time for the stock price to soar.....huat ah!!!!! RL16EGG      ( Date: 25-May-2021 16:06) Posted: any chance it will reach 5.7$    this week SembMarineLong      ( Date: 25-May-2021 15:47) Posted: Long to enjo
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SembMarineLong Veteran	25-May-2021 16:19        SembMarineLong About Contact  Quote this Post!
x 0   x 0  Alert Admin	Anything is possible in the world of stock market. One thing for sure is SIA is well supported even though covid is still on going. It will be a norm soon. Long to enjoy RL16EGG      ( Date: 25-May-2021 16:06) Posted: any chance it will reach 5.7$    this week SembMarineLong      ( Date: 25-May-2021 15:47) Posted: Long to enjo
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RL16EGG Veteran	25-May-2021 16:06        RL16EGG About Contact  Quote this Post!
x 0   x 0  Alert Admin	any chance it will reach 5.7$    this week SembMarineLong      ( Date: 25-May-2021 15:47) Posted: Long to enjoy investor999      ( Date: 25-May-2021 15:08) Posted: Finally we managed to steer SIA this giant around. As we turn up, once 4.84 is hit we can take off
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TigerPlay Master	25-May-2021 15:54        TigerPlay About Contact  Quote this Post!
x 0   x 0  Alert Admin	could it be those shorted need to buy back now if not they need to buy back the mCB right which they dun have?
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halleluyah Supreme	25-May-2021 15:51        halleluyah About Contact  Quote this Post!
x 0   x 0  Alert Admin	howcome no mati ???
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SembMarineLong Veteran	25-May-2021 15:47        SembMarineLong About Contact  Quote this Post!
x 0   x 0  Alert Admin	Long to enjoy investor999      ( Date: 25-May-2021 15:08) Posted: Finally we managed to steer SIA this giant around. As we turn up, once 4.84 is hit we can take off
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TigerPlay Master	25-May-2021 15:34        TigerPlay About Contact  Quote this Post!
x 0   x 0  Alert Admin	just now it suddenly surge to 4.80, then came down again. i dun understand the sudden run up as it near 27 may end date, it should come down right?
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investor999 Elite	25-May-2021 15:18        investor999 About Contact  Quote this Post!
x 0   x 0  Alert Admin	The shortists trying to keep price below 4.84 as they need to buy back the MCB rights
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investor999 Elite	25-May-2021 15:10        investor999 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Expecting a rough runway..many people trying to pull plane down investor999      ( Date: 25-May-2021 15:08) Posted: Finally we managed to steer SIA this giant around. As we turn up, once 4.84 is hit we can take off
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investor999 Elite	25-May-2021 15:08        investor999 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Finally we managed to steer SIA this giant around. As we turn up, once 4.84 is hit we can take off
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f16force Senior	25-May-2021 13:10        f16force About Contact  Quote this Post!
x 0   x 0  Alert Admin	" The MCBs are not immediately dilutive and will provide the Company with the flexibility to manage its capital structure, with partial or full redemption allowed on every six-month anniversary of the issue date at the Company&rsquo s discretion. The holders will be entitled to a yield that accretes and will be payable at the point of any redemption. The MCBs will be automatically converted to ordinary shares if they are not redeemed prior to the maturity date." my interpretation of the above is very direct, if there is any redemption, a yield will be paid. if there is no redemption, the McB will be converted to ordinary shares as highlighted above. mario1      ( Date: 25-May-2021 12:19) Posted: you need to take into consideration of the acreted value of the MCB which is to multiply by 1.806  before conversion. According for the interest that would otherwise have been paid if held to maturity ( 6% per annum for 10 years, compounded semi annually) Refer to page 25 of the rights issue presentation by SIA last year 2020 Apr 20th f16force      ( Date: 25-May-2021 09:42) Posted: Just curious.....how you arrive at 3.4 billion shares? $9.7 billion worth of McB, conversion price is $4.84,  my calculation is only about 2 billion new shares to be issued, if no redemption takes place
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mario1 Member	25-May-2021 12:19        mario1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	you need to take into consideration of the acreted value of the MCB which is to multiply by 1.806  before conversion. According for the interest that would otherwise have been paid if held to maturity ( 6% per annum for 10 years, compounded semi annually) Refer to page 25 of the rights issue presentation by SIA last year 2020 Apr 20th f16force      ( Date: 25-May-2021 09:42) Posted: Just curious.....how you arrive at 3.4 billion shares? $9.7 billion worth of McB, conversion price is $4.84,  my calculation is only about 2 billion new shares to be issued, if no redemption takes place. uiop1223      ( Date: 25-May-2021 09:35) Posted: The airline group may have to issue more than 3.47b new shares when all its MCBs mature in 2030 Just think of the massive dilution. Even if return to pre covid, whats the EPS? And biz travel cut down. Travel is more for holdiays.. pple wanna take budget airline or overpriced SIA?
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mario1 Member	25-May-2021 12:16        mario1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	This is the TERP after the issuance of $6.2b worth of MCB ? Adrianinsing      ( Date: 24-May-2021 22:50) Posted: Any guess on price of SIA ex rights ??
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mario1 Member	25-May-2021 12:07        mario1 About Contact  Quote this Post!
x 0   x 0  Alert Admin	hi Investor999, i think you are right !  The conversion will be based on acreted value which is 1.806 based on page 24 of the presentation slide for the rights issue, announced last year. The key question then: what will the fair value of the share price in 2030 if SIA decides not redeem and convert all the MCBs to shares ? Tranche 1 : Apr 2020 MCB = 295 is to 100,  i.e 1.28 * 2.95 * 1.806 / 4.84= 1.408b new shares Tranche 2:  May 2021 MCB = 209 is to 100,  i.e 2.98 * 2.09 * 1.806 / 4.84 = 2.324b new shares After Rights Issues: Apr 2020 =  2.98b share (current) Total Shares after MCB conversion ( assuming no further corp action ) = 6.712b vs 1.2b shares pre covid   investor999      ( Date: 24-May-2021 22:25) Posted: You pay $1 and at maturity it becomes $1.69797 But you get paid back as shares valued at $4.84 So $1.69797 / $4.84 = 0.35 shares So 1000 MCB = 350 shares. If the price of SIA is still $4.84 you sell and get $1698 mario1      ( Date: 24-May-2021 21:00) Posted: hi All, For the MCBs, if SIA did not redeem them at maturing date i.e. year 2030, does it mean each bond will be converted automatically at the  price of 4.84 bond is to 1 share ? What about the yield / interest that its supposed to have beeb paid if SIA had redeemed ? Are those not applicable at conversion, once the issuer decides to let it lapse ? Assuming a yield of 5% per annum, if SIA had opt to redeem, the share price during conversion time have better be at 4.84*(1.05)^10 = 7.84 per share.
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NT1825 Master	25-May-2021 10:45        NT1825 About Contact  Quote this Post!
x 0   x 0  Alert Admin	Sorry for all the confusion. Here is my clarification. My post was meant to be a question on TERP, hoping for a realistic answer. However, the members here have taken the post in bad faith and perceived it as a wish/ dream. Nothing wrong but the topic went into the wrong direction. Worst still another post accusing it as spreading good news with ID re quoted If needed I can withdraw the question Kai189      ( Date: 25-May-2021 10:34) Posted: if $2.20 i think funds will be scooping ..let alone retailers. i standby already to hoot at $2.20..    spreading the good news now that got ppl (NT1825  ) say can get $2.20  :)
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Kai189 Veteran	25-May-2021 10:34        Kai189 About Contact  Quote this Post!
x 0   x 0  Alert Admin	if $2.20 i think funds will be scooping ..let alone retailers. i standby already to hoot at $2.20..    spreading the good news now that got ppl (NT1825  ) say can get $2.20  :)
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TigerPlay Master	25-May-2021 10:02        TigerPlay About Contact  Quote this Post!
x 0   x 0  Alert Admin	i oso want, can start to dream now, hope it happen !!  SinglePore      ( Date: 25-May-2021 10:00) Posted: On 27/05 ex-right, many people dream to buy SIA at $2.2.    NT1825      ( Date: 25-May-2021 00:17) Posted: What will be the theoretical ex-rights price?  TERP = (Mkt Cap + Funds Raised ) / ( Existing shares + new shares) = $ 2.2
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SinglePore Member	25-May-2021 10:00        SinglePore About Contact  Quote this Post!
x 0   x 0  Alert Admin	On 27/05 ex-right, many people dream to buy SIA at $2.2.    NT1825      ( Date: 25-May-2021 00:17) Posted: What will be the theoretical ex-rights price?  TERP = (Mkt Cap + Funds Raised ) / ( Existing shares + new shares) = $ 2.2? Adrianinsing      ( Date: 24-May-2021 22:50) Posted: Any guess on price of SIA ex rights ??
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NT1825 Master	25-May-2021 09:44        NT1825 About Contact  Quote this Post!
x 0   x 0  Alert Admin	lol... If worst is over, SIA no need to ask for funding la TigerPlay      ( Date: 25-May-2021 08:27) Posted: $2.20 should be a dream in my opinion. Should be above $5 due to the fact that worst is over and they would have over $10 billions cash to tide over and soar, imho.We are all guessing nia NT1825      ( Date: 25-May-2021 00:17) Posted: What will be the theoretical ex-rights price?  TERP = (Mkt Cap + Funds Raised ) / ( Existing shares + new shares) = $ 2.2
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TigerPlay Master	25-May-2021 09:43        TigerPlay About Contact  Quote this Post!
x 0   x 0  Alert Admin	Actually why they set the mCB conversion at 4.84? Does it mean they dun expect SiA to go above 4.84 after 9 years? Because if say SiA at year 9 hit $10, SiA definately won' t let you convert/buy at 4.84, they will definitely redeem the bond, pay u back the principle plus some interest right? if SiA flop and by year 9 hit $2, definately they let u convert at 4.84 lor, that why this mCB no taker, is just excuse for TH to pump in money to SiA in my opinion. f16force      ( Date: 25-May-2021 09:19) Posted: The MCBs for conversion is $4.84, above the current share price. in my view, the effect on ex-rights is negligible. f16force      ( Date: 25-May-2021 09:15) Posted: $2.20? Ridiculous.....That is not the way to calculate the ex-rights price...
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