Members of the SAS that will provide this service are DBS Vickers Securities (Singapore) Pte Ltd (which has provided this service since 30 September 2004), DMG & Partners Securities Pte Ltd, Fraser Securities Pte Ltd, G K Goh Stockbrokers Pte Ltd, Lim & Tan Securities Pte Ltd. The details of the participating brokerages can be viewed on clicking here.
The procedure for the opening of such trading accounts has been simplified. SingTel shareholders will need to provide their NRIC together with the following:
- For those using CPF savings, their latest CPF statement showing SingTel shareholdings after capital reduction (STA and ST2 shares)
- For SingTel B shareholders (using cash), their SingTel notification from the CDP on capital reduction and shareholdings
These rates are comparable with Authorised Trading Centre (ATC) rates. This express service and special commission rate is exclusively made available to SingTel shareholders from 7 October to 30 December 2004 after which SingTel shareholders will still be able to sell their shares at the brokerages, but at normal rates.
SGX has made this joint effort with SAS in addition to its earlier decision to extend the ATC facility at DBS Bank's Shenton Way Branch till 30 December 2004. However, SGX and SAS would like to clarify that this effort is not intended to encourage sale of SingTel shares. They would like to assure SingTel shareholders that they can sell their shares anytime even after 30 December 2004 at any of the broking houses, so there is no need to rush to do so.