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The Monetary Authority Of Singapore – Results Of The First Singapore Savings Bond Issue

World Affairs – Finance

Open Eyes Opinion {source: SGgov}

Singapore

The Monetary Authority of Singapore

Application results of the first Singapore Savings Bond issue Singapore, 28 September 2015

 

 

 

The Monetary Authority of Singapore (MAS) announced today that it has accepted $413,161,000 in applications from 19,505 individuals for the first Singapore Savings Bond issue. All applicants will receive their application amount in full, subject to the limit of $50,000 per individual

The Savings Bonds will be deposited into applicants’ Central Depository (CDP) Securities accounts on 1 October 2015.

Successful applications

Successful applicants of the first Savings Bond issue will receive a letter from CDP within three to five business days informing them of the amount of Savings Bonds they have received. They can also check their Savings Bonds holdings through the CDP internet service (www.sgx.com/cdp) or by calling the CDP hotline at 6535-75112 from the evening of 1 October. The Savings Bonds will pay interest every six months on the first business day of the month, with the first interest payment to be made on 1 April 2016.

The interest payments will be automatically credited into the bank account that is linked to the CDP Securities account under the Direct Crediting Service (DCS) arrangement.

Applying for the second Savings Bond issue

The next Savings Bond issue will be announced on 1 October 2015 and issued on 2 November 2015. MAS will publish on the Savings Bonds website (www.sgs.gov.sg/savingsbonds), the interest pay-out schedule and the amount on offer for the second Savings Bond, after 4.30pm on 1 October 2015. This information will also be carried in local newspapers the following day.

Applications for this issue will open at 6.00pm on 1 October 2015 and close at 9.00pm on 27 October 2015.

CDP Securities account and DCS activation

Investors are reminded that they must have an Individual CDP Securities account with DCS activated, to facilitate the crediting of Savings Bond interest payments into their bank accounts. Investors who already have Individual CDP Securities accounts should check that DCS has been activated before applying for Savings Bonds.

Investors without CDP Monetary Authority of Singapore accounts, and who wish to apply for the second Savings Bond issue, are advised to open their CDP accounts early as the process takes approximately two weeks. They can obtain more information through the CDP hotline and the CDP website. Alternatively, they can apply in person at CDP’s service counter or through a securities broker.

Savings Bonds website and hotline

For more information, please visit the Savings Bonds website at www.sgs.gov.sg/savingsbonds or call the Savings Bonds hotline at 6221-3682 3 .

{1 Individuals’ applications in excess of the $50,000 issue limit were not accepted. The amounts arising from such excess applications will be refunded to their bank accounts by the end of 29 September 2015. 2 The CDP hotline operating hours are: Mondays to Fridays (8.30am to 5.00pm), Saturdays (9.00am to 12.30pm), excluding Public Holidays}

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[photo credits: “Merlion statue, Merlion Park, Singapore – 20110723” by ペウゲオト. – Own work.. Licensed under CC BY-SA 3.0 via Wikimedia Commons – https://commons.wikimedia.org/wiki/File:Merlion_statue,_Merlion_Park,_Singapore_-_20110723.jpg#/media/File:Merlion_statue,_Merlion_Park,_Singapore_-_20110723.jpg]

 

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