Securities Investors Association Singapore (SIAS)

General Manager, Securities Investors Association Singapore (SIAS)

Richard Christopher Dyason

General Manager

Investor Education, Corp Governance & Transparency

Securities Investors Association (Singapore) or SIAS, was founded unexpectedly in June 1999 to champion the CLOB issue. 172,000 retail investors were suddenly stranded when the Malaysian Government froze their investments on Malaysian stocks in September 1998, amounting to US$5 billion. A group of civic-minded citizens lead by Mr David Gerald got together and took on the challenge to help free the frozen shares with an initial backing by 49,880 retail investors as members of the non-profit organisation. Their resoluteness and unity helped to resolve the issue on our terms.

Today, SIAS is a Charity and an Institution of Public Character (IPC), and the largest organized investor group in Asia, with almost 71,000 retail investors as members. It is run by an elected Management Committee comprising of professionals who are volunteers. It actively promotes Investor Education, Corporate Governance and Transparency and is the advocate for Investor rights in Singapore. To-date, SIAS has successfully organized over 1000 investor education programmes ranging from basic investment seminars for novices to certificate courses for investment savvy investors. Thus far, more than 140,000 retail investors have benefited from these programmes that are offered largely free. Members are educated on the features of investment products, and the attendant risks involved in each product. Investors are taught to make informed decisions on investing. SIAS is able to provide a variety of investor education programmes to its members and the investing community at large through collaborative arrangements with financial institutions and listed companies interested in investor education as part of its corporate social responsibility agenda.
SIAS is "the voice" for minority shareholders and has already engaged with corporations falling short of good Corporate Governance practices. However, its preferred approach to resolve investors’ right issues is to do so in the boardroom and not in the courtroom. Many SIAS investors have sought protection also from errant traders. SIAS conducts dispute resolution sessions regularly to assist investors to resolve issues. Annually, SIAS tracks and grades listed companies for their Corporate Governance practices and rewards those who have excelled with the Singapore Corporate Governance Award. 

SIAS also works with Public Listed Companies to reach out to retail investors through its corporate communication programme to enable investors to determine the fundamentals of a company and take a long-term view of the company for investment.

<a href="https://www.smartkarma.com/entities/622" target="_blank" data-smartkarma-citation="entities:622:1">SMRT</a> and Temasek recently announced the privatisation of SMRT with the rationale that while the New Rail Financing Framework (NRFF) would relieve SMRT from heavy capital expenditure requirements and reduce the risk of the company, there are still other business risks and uncertainties that SMRT faces and privatisation would provide SMRT with greater flexibility to focus on providing safe and high quality rail service, without short term pressures of being a listed company.SIAS has received…

SMRT and Temasek recently announced the privatisation of SMRT with the rationale that while the New Rail Financing Framework (NRFF) would relieve SMRT from heavy capital expenditure requirements and reduce the risk of the company, there are still other business risks and uncertainties that SMRT faces and privatisation would provide SMRT with greater flexibility to focus on providing safe and high quality rail service, without short term pressures of being a listed company.SIAS has received…

Press Statement: SMRT Privatisation Offer

Special Situations, Content Strategist, Smartkarma

Crispin Francis

Special Situations, Content Strategist

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Event-Driven

As widely expected, Temasek and SMRT have jointly <a href="http://infopub.sgx.com/FileOpen/Press%20Release.ashx?App=Announcement&amp;FileID=413485" target="_blank">announced</a> a privatization of SMRT via a scheme of arrangement.This announcement came on the back of SMRT remaining suspended following the earlier announcement that LTA, under the New Rail Financing Framework ("NRFF"), would acquire certain rail assets for a total consideration of SGD 991 Mn.In this insight, we look at what the terms and conditions of the offer are, and certain other nuances of the transaction.

As widely expected, Temasek and SMRT have jointly announced a privatization of SMRT via a scheme of arrangement.This announcement came on the back of SMRT remaining suspended following the earlier announcement that LTA, under the New Rail Financing Framework ("NRFF"), would acquire certain rail assets for a total consideration of SGD 991 Mn.In this insight, we look at what the terms and conditions of the offer are, and certain other nuances of the transaction.

Equity Bottom-Up

On 15 July 2016, SMRT <a href="https://www.smrt.com.sg/Portals/0/Announcement/2016/2016-07-15%20-%20Media%20Release.pdf" target="_blank">announced </a>that it had completed the transition of three MRT lines to the New Rail Financing Framework (NRFF).As part of the transition, Singapore's Land Transport Authority (LTA) would acquire associated operating assets at the estimated Net Book Value as at 30 September 2016 of SGD 991mm, thus transforming SMRT into an asset-light OpCo.In this insight, I examine the transaction in detail and present its net impact on minority shareholders. I admit: the transaction is fancy, the results might not be so.

On 15 July 2016, SMRT announced that it had completed the transition of three MRT lines to the New Rail Financing Framework (NRFF).As part of the transition, Singapore's Land Transport Authority (LTA) would acquire associated operating assets at the estimated Net Book Value as at 30 September 2016 of SGD 991mm, thus transforming SMRT into an asset-light OpCo.In this insight, I examine the transaction in detail and present its net impact on minority shareholders. I admit: the transaction is fancy, the results might not be so.

SMRT: Once a Landlord; Now a (Mere) Lessee

We ask the questions that need to be asked, Hong Bao Media Holdings Pte Ltd

Mark Laudi • Investor Central

We ask the questions that need to be asked

Hong Bao Media Holdings Pte Ltd

An analysis of SMRT's Annual Report indicates that it is still cleaning up after high profile breakdowns and a focus on maintenance.But the document also has some positive highlights which indicate that there is light at the end of the tunnel for the operator of Singapore's suburban rail network.

An analysis of SMRT's Annual Report indicates that it is still cleaning up after high profile breakdowns and a focus on maintenance.But the document also has some positive highlights which indicate that there is light at the end of the tunnel for the operator of Singapore's suburban rail network.

Co-founder & Managing Director, Marketnomix 

Rajan Govil

Co-founder & Managing Director

Marketnomix 

Macroeconomics

Singapore’s GDP grew by 1.8% y-o-y in 1Q2016 similar to the growth experienced in the previous two quarters. Private consumption expenditure contributed about one-percentage points while government expenditure contributed 0.7 percentage points to the growth. Net exports detracted 3.8% from GDP growth the in quarter ended March 2016.While services sector remains a major contributor to overall GDP, 1Q2016 saw its contribution decelerate from 2.8% in 1Q2015 to 0.9% in 1Q2016 while that of goods…

Singapore’s GDP grew by 1.8% y-o-y in 1Q2016 similar to the growth experienced in the previous two quarters. Private consumption expenditure contributed about one-percentage points while government expenditure contributed 0.7 percentage points to the growth. Net exports detracted 3.8% from GDP growth the in quarter ended March 2016.While services sector remains a major contributor to overall GDP, 1Q2016 saw its contribution decelerate from 2.8% in 1Q2015 to 0.9% in 1Q2016 while that of goods…

Singapore: GDP Grows by 1.8% in 1Q2016 Driven by Consumption Expenditure

Singapore

SMRT Corporation Ltd. operates the Mass Rapid Transit (MRT) system and LRT (Light Rail Transit) system in Singapore.  The Company also provides bus, taxi, charter hire services, and consultancy and project management services.  SMRT Corporation rents taxis and leases commercial space, kiosks and advertising panels at the MRT and LRT stations as well as in train, buses, and taxis.

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SMRT Corp Ltd (MRT SP)

Press Statement: SMRT Privatisation Offer

SMRT and Temasek recently announced the privatisation of SMRT with the rationale that while the New Rail Financing Framework (NRFF) would relieve...

Securities Investors Association Singapore (SIAS)

SMRT - Privatization Offer from Temasek

As widely expected, Temasek and SMRT have jointly announced a privatization of SMRT via a scheme of arrangement.This announcement came on the back...

Crispin Francis

SMRT: Once a Landlord; Now a (Mere) Lessee

On 15 July 2016, SMRT announced that it had completed the transition of three MRT lines to the New Rail Financing Framework (NRFF).As part of the...

Crispin Francis

SMRT: Is It as Bad as It Looks?

An analysis of SMRT's Annual Report indicates that it is still cleaning up after high profile breakdowns and a focus on maintenance.But the...

Mark Laudi • Investor Central

Singapore: GDP Grows by 1.8% in 1Q2016 Driven by Consumption Expenditure

Singapore’s GDP grew by 1.8% y-o-y in 1Q2016 similar to the growth experienced in the previous two quarters. Private consumption expenditure...

Rajan Govil

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