A belated update relating to the cash call done by SIA in March 2020.  The cash call consisted of 2 parts :-

  1. Rights issue with 3 rights share for every 2 ordinary share at an issue price of $3
  2. Rights MCB at an issue price of $1 on the basis of 295 Rights MCB for every 100 ordinary share

As existing shareholders after holding it for more than 10 years, I have 2 options either to take up the offering or ignore it.  At the end of the day, I decided to take up the offering to subscribe for both the Rights and the Rights MCB.  A bold move ?  Probably since most of the feedback I have gather was pretty negative about SIA amid the Covid-19.  In fact, SIA just registered its first ever FY loss since listed in 1985.  On 29th Jul 2020, SIA reported its 1Q FY20/21 earning with a S$1b loss for the quarter.  The dark cloud circling around it definitely not over very soon.

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