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From SGX :
RESPONSE TO SGX QUERIES ON UNUSUAL TRADING ACTIVITY
The Board of Directors of SIA Engineering Company Limited (the &ldquo Company&rdquo ) refers to the
queries from the Singapore Exchange Securities Trading Limited (&ldquo SGX-ST&rdquo ) on 5 July 2019
regarding the unusual price and volume movements in the Company&rsquo s shares and wishes to
respond to the queries as follows:
Question 1: Are you (the issuer) aware of any information not previously
announced concerning you, your subsidiaries or associated companies which, if
known, might explain the trading? Such information may include events that are
potentially material and price-sensitive, such as discussions and negotiations that
may lead to joint ventures, mergers, acquisitions or purchase or sale of a
significant asset. You may refer to paragraph 8 in Appendix 7.1 of the Mainboard
Rules for further examples.
Response:
The Company is not aware of any information not previously announced concerning the
Company, its subsidiaries or associated companies which might explain the trading today.
The Company will, in compliance with the Corporate Disclosure Policy of the SGX-ST Listing
Manual, make the necessary disclosures (if any) at the appropriate time.
Question 2: Are you aware of any other possible explanation for the trading? Such
information may include public circulation of information by rumours or reports.
Response:
The Company is not aware of any other possible explanation for the trading.
Question 3: Can you confirm your compliance with the listing rules and, in
particular, Mainboard Rule 703?
Response:
The Company confirms its compliance with the listing rules, in particular, listing rule 703.
The Board of Directors collectively and individually takes responsibility for the accuracy of the
aforesaid replies to the queries raised by the SGX-ST.
By Order of the Board
Lu Ling Ling
Company Secretary
5 July 2019
RESPONSE TO SGX QUERIES ON UNUSUAL TRADING ACTIVITY
The Board of Directors of SIA Engineering Company Limited (the &ldquo Company&rdquo ) refers to the
queries from the Singapore Exchange Securities Trading Limited (&ldquo SGX-ST&rdquo ) on 5 July 2019
regarding the unusual price and volume movements in the Company&rsquo s shares and wishes to
respond to the queries as follows:
Question 1: Are you (the issuer) aware of any information not previously
announced concerning you, your subsidiaries or associated companies which, if
known, might explain the trading? Such information may include events that are
potentially material and price-sensitive, such as discussions and negotiations that
may lead to joint ventures, mergers, acquisitions or purchase or sale of a
significant asset. You may refer to paragraph 8 in Appendix 7.1 of the Mainboard
Rules for further examples.
Response:
The Company is not aware of any information not previously announced concerning the
Company, its subsidiaries or associated companies which might explain the trading today.
The Company will, in compliance with the Corporate Disclosure Policy of the SGX-ST Listing
Manual, make the necessary disclosures (if any) at the appropriate time.
Question 2: Are you aware of any other possible explanation for the trading? Such
information may include public circulation of information by rumours or reports.
Response:
The Company is not aware of any other possible explanation for the trading.
Question 3: Can you confirm your compliance with the listing rules and, in
particular, Mainboard Rule 703?
Response:
The Company confirms its compliance with the listing rules, in particular, listing rule 703.
The Board of Directors collectively and individually takes responsibility for the accuracy of the
aforesaid replies to the queries raised by the SGX-ST.
By Order of the Board
Lu Ling Ling
Company Secretary
5 July 2019
BUSINESS TIMES :
THE Singapore Exchange (SGX) on Friday morning queried SIA Engineering for " unusual price and volume movements" in its shares after the market opened.
As of 10.07am, SIA Engineering shares were trading at S$2.89, up 17 Singapore cents or 6.3 per cent. On Thursday, the counter closed 8.4 per cent or 21 Singapore cents higher at S$2.72 on high volume.
The spike in SIA Engineering shares may indicate the possibility of privatisation by parent company Singapore Airlines (SIA), DBS analysts said on Friday morning in a research note before the SGX query was issued.
DBS analysts Paul Yong and Suvro Sarkar called the stock&rsquo s volatility " uncharacteristically high" , which they believe could have been fuelled by renewed talk of privatisation by SIA.
" SIA Engineering&rsquo s stock price has performed poorly of late, and could thus provide a value-for-money privatisation target for SIA,&rdquo they said.
For the past 12 months, SIA Engineering&rsquo s share price has trended down 20 per cent to S$2.51 prior to the sharp rise, on " uninspiring" quarterly results and lower dividend expectations, said the analysts.
With SIA&rsquo s close to 78 per cent stake in SIA Engineering&rsquo s maintenance, repair and operations (MRO) unit and the stock&rsquo s low liquidity, the rationale for privatisation would be " pretty strong" , DBS said.
In addition, SIA being a cash rich company means it would not have to leverage on the equity capital markets for financing, along with not having any significant acquisitions under its belt.
However, remaining separately listed from SIA will give SIA Engineering an &ldquo aura of independence&rdquo , important in retaining perception as an independent MRO provider, said the analysts. This is because it has to bid for work from other airlines, which currently accounts for around 40 per cent of its revenue.
Should the privatisation materialise, DBS is estimating a premium of around 10 to 30 per cent above the last closing price, translating to an offer price of between S$2.75 and S$3.26 per share.
DBS has thus upgraded SIA Engineering to " buy" based on the M& A or privatisation premium, with a raised target price of S$3.01. It said current valuations for the firm are at multi-year lows of about 16 times forward price-to-earnings, and dividend yield is healthy at close to 4.5 per cent. Downside risks are thus limited even if the privatisation does not materialise, it said.
DBS added that it would cost SIA S$748 million to privatise SIA Engineering at S$3.01 per share for remaining shares it does not already own, which is 22 per cent.
A privatisation would also buy more time for SIA to restructure or streamline SIA Engineering as needed.
For SIA&rsquo s own earnings, privatisation can provide a marginal one per cent uplift to the airline&rsquo s fiscal 2020 earnings, and two per cent to its fiscal 2021 earnings, assuming the cost of debt of 3 per cent and six months contribution in the financial year ending March 2020, said DBS.
Yup, there are signs of funds flowing to other markets. DYODD.
AttasBoss ( Date: 05-Jul-2019 11:55) Posted:
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the Company already made the clarification, dont catch at the peak!
AttasBoss ( Date: 05-Jul-2019 11:43) Posted:
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Not sure, but currently retracing a little to recharge bullets.
stockgurus ( Date: 05-Jul-2019 11:35) Posted:
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RESPONSE TO SGX QUERIES ON UNUSUAL TRADING ACTIVITY
The Board of Directors of SIA Engineering Company Limited (the &ldquo Company&rdquo ) refers to the queries from the Singapore Exchange Securities Trading Limited (&ldquo SGX-ST&rdquo ) on 5 July 2019 regarding the unusual price and volume movements in the Company&rsquo s shares and wishes to respond to the queries as follows:
Question 1: Are you (the issuer) aware of any information not previously announced concerning you, your subsidiaries or associated companies which, if known, might explain the trading? Such information may include events that are potentially material and price-sensitive, such as discussions and negotiations that may lead to joint ventures, mergers, acquisitions or purchase or sale of a significant asset. You may refer to paragraph 8 in Appendix 7.1 of the Mainboard Rules for further examples.
Response:
The Company is not aware of any information not previously announced concerning the Company, its subsidiaries or associated companies which might explain the trading today.
The Company will, in compliance with the Corporate Disclosure Policy of the SGX-ST Listing Manual, make the necessary disclosures (if any) at the appropriate time.
Question 2: Are you aware of any other possible explanation for the trading? Such information may include public circulation of information by rumours or reports.
Response:
The Company is not aware of any other possible explanation for the trading.
Question 3: Can you confirm your compliance with the listing rules and, in particular, Mainboard Rule 703?
Response:
The Company confirms its compliance with the listing rules, in particular, listing rule 703.
The Board of Directors collectively and individually takes responsibility for the accuracy of the aforesaid replies to the queries raised by the SGX-ST.
By Order of the Board
Lu Ling Ling
Company Secretary
5 July 2019
The Board of Directors of SIA Engineering Company Limited (the &ldquo Company&rdquo ) refers to the queries from the Singapore Exchange Securities Trading Limited (&ldquo SGX-ST&rdquo ) on 5 July 2019 regarding the unusual price and volume movements in the Company&rsquo s shares and wishes to respond to the queries as follows:
Question 1: Are you (the issuer) aware of any information not previously announced concerning you, your subsidiaries or associated companies which, if known, might explain the trading? Such information may include events that are potentially material and price-sensitive, such as discussions and negotiations that may lead to joint ventures, mergers, acquisitions or purchase or sale of a significant asset. You may refer to paragraph 8 in Appendix 7.1 of the Mainboard Rules for further examples.
Response:
The Company is not aware of any information not previously announced concerning the Company, its subsidiaries or associated companies which might explain the trading today.
The Company will, in compliance with the Corporate Disclosure Policy of the SGX-ST Listing Manual, make the necessary disclosures (if any) at the appropriate time.
Question 2: Are you aware of any other possible explanation for the trading? Such information may include public circulation of information by rumours or reports.
Response:
The Company is not aware of any other possible explanation for the trading.
Question 3: Can you confirm your compliance with the listing rules and, in particular, Mainboard Rule 703?
Response:
The Company confirms its compliance with the listing rules, in particular, listing rule 703.
The Board of Directors collectively and individually takes responsibility for the accuracy of the aforesaid replies to the queries raised by the SGX-ST.
By Order of the Board
Lu Ling Ling
Company Secretary
5 July 2019
Offer price how much? 3.01?
Singapore airline parent company will benefit alot from this
Singapore airline parent company will benefit alot from this
JesseTyler ( Date: 05-Jul-2019 11:27) Posted:
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$2.96 hit, going for today' s closing target @ $3.04
JesseTyler ( Date: 05-Jul-2019 10:08) Posted:
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Yup hope so, aim higher lah~ $3.50 :D
I am already looting so much from SIA Engineering since $2.3+
I am already looting so much from SIA Engineering since $2.3+
halleluyah ( Date: 05-Jul-2019 11:15) Posted:
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hope privitization px of 3.20-3.35....hope hor....
SIA Engineering is testing $2.96 now.
JesseTyler ( Date: 05-Jul-2019 10:08) Posted:
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gd div n lagi cash rich coy.............
JesseTyler ( Date: 05-Jul-2019 10:31) Posted:
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Yup, potential privatization. At this rate of rumour, I believe $3.50 is possible before ex-D dividend on 24 July.
The backing on SIA Engineering is really strong, with no sign of retracement. I rarely see this sign.
The backing on SIA Engineering is really strong, with no sign of retracement. I rarely see this sign.
privatisation in tok...hope go back to 3.20....div 8ct....
$2.89 hit
Next target for lunchtime: $2.96 to $3.10
Closing target for today: $3.04 to $3.15 (+- 0.05 --> $3.20)
Next target for lunchtime: $2.96 to $3.10
Closing target for today: $3.04 to $3.15 (+- 0.05 --> $3.20)
JesseTyler ( Date: 05-Jul-2019 09:16) Posted:
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Go gogogogoogoggo!!! thomas the train !!!
bishan22 ( Date: 05-Jul-2019 09:55) Posted:
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Seow liao....
bishan22 ( Date: 04-Jul-2019 11:54) Posted:
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Still very strong today, target price for lunch time: $2.82 to $2.89
JesseTyler ( Date: 04-Jul-2019 17:09) Posted:
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Nice, closed at highest of the day @ $2.72, with no sign of retracement.
Looks like SIA Engineering can expect to see $3 next week.
Looks like SIA Engineering can expect to see $3 next week.