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1. |
How can I check on the number of discounted SingTel (ST) shares that I am holding? |
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2. |
Why are my discounted ST shares not reflected in my Central Depository (CDP) statement? |
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3. |
How can I sell my discounted ST shares? |
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What happens when I sell my discounted ST shares? |
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5. |
Can I withdraw the sale proceeds or my investment profits? |
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6. |
How would I know if I would make a gain or loss if I were to sell my discounted ST shares now? |
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7. |
What are the dividends rates declared by SingTel for the discounted ST shares to-date? |
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8. |
Are the dividends received from the discounted ST shares subject to tax? |
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9. |
Can my discounted ST shares be released to me when I reach 55 years old? |
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10. |
What happens to the discounted ST shares if a member passes away? |
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11. |
Under what conditions would the Board sell the shares which the nominees are entitled to receive? |
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12. |
Can the nominee instruct the Board when to sell the shares and at a certain price? |
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13. |
Where can I find more information about SingTel shares? |
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A |
Singapore Exchange (SGX) Broking Firms for Retail Clients |
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1. |
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| To check your discounted ST shareholdings, please click here. |
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2. |
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Discounted ST shares are held by the Board on behalf of its members. Thus, your discounted ST shareholdings are not reflected in your individual monthly CDP statement. |
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You can sell your discounted ST shares through any Singapore Post office (Tel: 1605). You would need to bring your identity card or passport to sell your shares. If you are unable to call in person, you may authorise someone to sell the shares for you. The authorised person must also bring along his and your identity cards. Your signature on the original post office application form is also required.
Please click here for more information on selling the shares through the post office.
If you have a trading account with a broking firm, you may sell your discounted ST shares through your stockbroker. Alternatively, you can also open a trading account with any of the Singapore Exchange (SGX) broking firm listed in Annex A if you do not have an existing trading account. However, if you intend to trade through the internet, please check with your stockbroker before selling as broking firms generally do not allow internet trading for discounted SingTel shares. |
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4. |
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When you sell the discounted ST shares, the sale proceeds will be refunded to your CPF Ordinary Account. |
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5. |
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No. Withdrawal of sale proceeds or investment profit goes against the primary objective of saving for old age and does not help to enhance your CPF savings for retirement. You can apply to withdraw the sale proceeds if you meet the CPF withdrawal conditions (such as reached age 55) by completing Form RSD-55. |
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6. |
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For every sale of discounted ST shares made under the Special Discounted Shares scheme, you may use the weighted average cost (WAC) method to determine whether you would make a gain or loss. (see example A).
EXAMPLE A - CALCULATION OF GAIN (LOSS) FOR SHARES USING THE WEIGHTED AVERAGE COST METHOD
1. Discounted ST shares (ST A and ST 2)
Date
(1) |
Qty
bought/sold
(2) |
Cost
bought /
(sold)($)
(3) |
Cumulative Qty
(4) |
Cumulative Cost ($)
(5) |
WAC ($)
(6)=(5)/(4) |
| 1/12/93 |
Bought 600 ST A shares @$1.90 each |
1,140 |
600 |
1,140 |
1.9000 |
| 1/11/94 |
60 ST A Loyalty shares |
- |
660 |
1,140 |
1.7273 |
| 1/11/95 |
60 ST A Loyalty shares |
- |
720 |
1,140 |
1.5833 |
| 30/08/96 |
Bought 500 ST2 shares @ $2.50 each |
1,250 |
1,220 |
2,390 |
1.9590 |
| 1/11/97 |
60 ST A and 50 ST2 Loyalty shares |
- |
1,330 |
2,390 |
1.7970 |
| 1/11/98 |
50 ST2 Loyalty shares |
- |
1,380 |
2,390 |
1.7319 |
| 1/11/99 |
60 ST A Loyalty shares |
- |
1,440 |
2,390 |
1.6597 |
| 1/11/2000 |
50 ST2 Loyalty shares |
- |
1,490 |
2,390 |
1.6040 |
| 1/11/2002 |
50 ST2 Loyalty shares |
- |
1,540 |
2,390 |
1.5519 |
For example, if the ST share price is $3.50. Then you would gain* $1.9481 ($3.50 - $1.5519) for each discounted ST share sold.
*excluding brokerage fees and other charges |
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7. |
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The dividends rates paid by SingTel are as follows:
| Date of dividend crediting |
Dividend Per Share |
| Sep 1994 |
$0.030 |
| Oct 1995 |
$0.035 |
| Oct 1996 |
$0.040 |
| Oct 1997 |
$0.045 |
| Oct 1998 |
$0.050 |
| Oct 1999 |
$0.055 |
| Jan 2000 |
$0.120 |
| Oct 2000 |
$0.055 |
| Jan 2001 |
$0.075 |
| Sep 2001 |
$0.055 |
| Sep 2002 |
$0.055 |
| Sep 2003 |
$0.055 |
| Aug 2004 |
$0.064 |
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Sep 2005 |
$0.080 (Final) |
| $0.050 (Special) |
| Sep 2006 |
$0.100 |
| Jan 2007 |
$0.046 (Interim) |
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Aug 2007 |
$0.065 (Final) |
| $0.095 (Special) | |
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8. |
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Dividends received are taxable at your individual tax rate. Dividends that are credited into the Ordinary Account are before tax unlike other dividends which are after tax. In your annual Notice of Assessment sent by Inland Revenue Authority of Singapore (IRAS) the dividends received in the year will be reflected accordingly and subjected to the normal tax treatment. |
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9. |
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Yes, your discounted ST shares will be released to you upon request provided you have set aside the CPF Minimum Sum and Medisave Required Amount when you reach age 55.
The Central Depository (Pte) Ltd (“CDP”) imposes a transfer fee of $10.70 (inclusive of GST). Please make the cheque payable to "CPF Board" and send it to us together with your completed Form ST/CDP.
However if you are unable to set aside the Required CPF Minimum Sum and the Required Amount in your Medisave Account, the discounted ST shares will not be released to you. Upon liquidation of the discounted ST shares, the proceeds will be credited to your CPF Ordinary Account. Up to half of all your new contributions (including your proceeds from sale of the discounted ST shares) will be transferred to top-up the shortfall in your Retirement and/or Medisave Accounts. The remaining proceeds will be paid to you, at your next withdrawal age, or if you are continuously unemployed for 6 months. |
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10. |
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If a member passed away on or after 1 January 1996, his discounted ST shares, including the loyalty shares, would be distributed to the nominees in the proportion indicated in the nomination form.
However, these shares would form part of his estate and would be distributed accordingly to the beneficiaries of the estate if the member passed away before 1 January 1996. |
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11. |
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The Board will sell the shares which the nominees are entitled to receive if the nominee:
- is of unsound mind;
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- under the age of 21 years at the time of the transfer of the shares by the Board;
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- does not have a CDP account number and fails to open such an account within the time stipulated by the Board;
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- cannot be contacted or traced; or
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- is unable to receive the shares and the Board is for any reason not able to transfer them in this name.
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12. |
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No. The nominee should request for the shares to be transferred to his CDP account if he wishes to sell the shares at a certain time or price. |
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13. |
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You can refer to SingTel's website for more information. |
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Annex A
Singapore Exchange (SGX) Broking Firms for Retail Clients |
| 1. |
AmFraser Securities Pte Ltd
4 Shenton Way, #13-01 SGX Centre 2 S'pore 068807
Tel: Tel: 6534 5345 |
| 2. |
CIMB-GK Securities Pte Ltd
50 Raffles Place, #19-00 Singapore Land Tower S'pore 048623
Tel: 1800 538 9889 |
| 3. |
DBS Vickers Securities (Singapore) Pte Ltd*
8 Cross Street, #02-01 PWC Building S’pore 048424
Tel: 6533 9688 |
| 4. |
DMG & Partners Securities Pte Ltd
20 Raffles Place, #22-01 Ocean Towers S’pore 048620
Tel: 6438 8810 |
| 5. |
Kim Eng Securities Pte Ltd
9 Temasek Boulevard, #39-00 Suntec Tower 2 S’pore 038989
Tel: 6231 6688 |
| 6. |
Lim & Tan Securities Pte Ltd
10 Collyer Quay, #12-00 Ocean Building S’pore 049315
Tel: 6533 2070 |
| 7. |
OCBC Securities Pte Ltd*
18 Church Street, #06-00 OCBC Centre South S’pore 049479
Tel: 1800-338 8688 |
| 8. |
Phillip Securities Pte Ltd**
250 North Bridge Road, #06-00 Raffles City Tower S’pore 179101
Tel: 6531 1555 |
| 9. |
UOB Kay Hian Pte Ltd*
80 Raffles Place, #30-01 UOB Plaza 1 S’pore 048624
Tel: 6536 9338 | |
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*Opening of Trading Account service is available at the broking firms' associated bank branches, DBS Bank, OCBC and UOB respectively |
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**Investor Centres are also located at Raffles Place, Marine Parade, Toa Payoh, Bukit Batok, Yishun and Boon Keng. Please call Phillip Securities for more details |
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CONTACT US FOR ENQUIRIES, PLEASE CALL THE CPF CALL CENTRE AT 1800-227-1188 OR E-MAIL TO Investment@cpf.gov.sg |
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