Stabilisation and Support Package

SIA plans to offer a three-for-two rights issue at $3 per share, which is a 53.8% discount off SIA’s last traded price of $6.50. It will also raise up to another $9.7 billion from a 10-year Mandatory Convertible Bonds (MCB).

Overall unemployment rates had edged up to 2.3% in 2019, with resident unemployment at 3.1% and citizen unemployment at 3.3%.

This comes barely a month after DPM Heng Swee Keat in his Budget 2020 speech on Feb 18 unveiled a $4 billion package to stabilise the Singapore economy and support local workers caught up in a swirl of near-term uncertainties.