Selling discounted Singtel shares through Singapore Post

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Selling discounted Singtel shares through Singapore Post

Postby Taurus on Sat 11 Nov, 2006 9:40 am

The discounted SingTel shares refer to A and SingTel 2 shares, offered to Singaporeans through their CPF accounts in 1993 and 1996, respectively.

To check your discounted ST shareholdings, please click here

The following info is extracted from the document:
http://mycpf.cpf.gov.sg/NR/rdonlyres/01 ... CPFFAQ.PDF

Singapore Post (SingPost) has been appointed as the facilitating agent for members who wish to sell their discounted SingTel shares. SingPost will offer this new service to members from 1 April 2005 to 31 March 2007.

They may also sell their shares through their brokers if they have existing trading accounts. After the SingPost arrangement ends on 31 March 2007, members will need to open trading account with brokers (if they do not have one) and trade through the brokers if they decide to sell their shares.

You are required to obtain and submit the sales Application Form personally at any one of the 62 post offices. You will need to sign the Application Form in the presence of the post office staff, who will act as the witness.

However, if you are unable to submit the Application Form in person at the post office, you may appoint another person to submit the Application Form on your behalf. The authorised person is required to obtain your signature on the Application Form and bring his and your NRIC to perform the transaction at the post office. He will also need to countersign on the Application Form in the presence of the post office staff.

The staff at the post office will check the number of SingTel shares against CPF Board’s records electronically when you submit your Application Form at the post office. There is no need for you to produce any documentary evidence of your shareholdings.

SingPost will forward your Application Form to Phillip Securities for processing. The sale transaction should be executed between the second and fourth trading day from the date the post office receives your Application Form. The sale price is based on the prevailing market price at the time that the sale is executed.


Note: Sale proceeds will be credited into your CPF Ordinary Account and subject to the CPF withdrawal conditions.
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Postby trinity on Mon 13 Nov, 2006 8:47 pm

How come I don't have any shares?
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Postby Taurus on Mon 13 Nov, 2006 9:08 pm

You are "underaged" when the discounted Singtel shares are issued in the nineties.
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Postby godfather on Fri 01 Dec, 2006 10:41 pm

Still got about 1810 shares, recent price has gone up above $2.90, should I sell or keep?
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SingPost will continue to handle sale of discounted SingTel

Postby Taurus on Fri 23 Mar, 2007 7:16 am

SingPost will continue to handle the sale of discounted SingTel shares at all its post offices.

The CPF Board said the decision follows CPF members' feedback that the service is useful.

There were initially plans to discontinue this service next month.

The current fees charged, at a flat rate of S$17.95 (before SGX fees and GST) for each sale transaction, and the procedures for selling SingTel shares through SingPost will remain unchanged.

Any future change to the fees will be announced by SingPost.

CPF said the continuation of this service would make it more convenient and accessible for the 910,000 members, who are still holding discounted SingTel shares, to sell their shares.
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