Income Insurance Share

About Income Insurance Share Liquidity Program

SG Stocks Trading/Investing

The Income Insurance Share Liquidity Program (“IISLP”) is a bespoke solution offered by Phillip Securities Pte Ltd (“PSPL”) to provide shareholders of Income Insurance Limited (Reg. No. 202135698W) the opportunity to liquidate their Income Insurance Shares.

Step 1 : Guided Share Transfer Process

Visit our Investor Centre to assist you for this process.

Click here to view required documents.

Please be reminded to bring the physical copy of the announcement letter issued to you by Income Insurance Limited.

Step 2 : Experienced Custodian Team

Safekeeping your Income Insurance Shares with us, trusted broker, and access your assets 24/7.

Potential Liquidity

Submit sell orders whenever tranches of the IISLP are announced.

Phillip Securities Pte Ltd (“PSPL”) provides these services independently of Income Insurance Limited (“Income Insurance”) and no joint venture, partnership or agency relationship exists between PSPL and Income Insurance.

Income Insurance does not have control over and is not responsible for the contents of any materials prepared by PSPL, including but not limited to linked websites, or consequences of accessing such hyperlinks or contacting our hotlines.

Announcement

Phillip Securities Pte Ltd welcomes shareholders of Income Insurance Limited to register for the first tranche of the Income Insurance Share Liquidity Program. The opening date for the transfer of shares custody and submission of sell orders to Phillip Securities Pte Ltd is 12 January 2024 (Friday) at 9:00am. The registration for the first tranche of the Income Insurance Share Liquidity Program closes on 27 January 2024 (Saturday) at 1:00pm.

Please visit any of our Phillip Investor Centres (other than Phillip Investor Centre Lite) for registration, and be reminded to bring the physical copy of the announcement letter issued to you by Income Insurance Limited. It is advisable that you check the crowd status with the preferred Phillip Investor Centre before visiting.

The Trade Date of the first tranche of the Income Insurance Share Liquidity Program will be announced at a later date.

Research

Equity research reports for Income Insurance Limited are exclusively
prepared for shareholders of Income Insurance Limited

Fee Schedule

Custody Charges
Income Insurance Shares Custody Charges Waived
Corporate Action Handling Fee
Cash Dividend 1% on net dividend subject to min S$1.00 capped at S$50.00
Other than the above S$10.00
Income Insurance Shares Transfer In Charges (No Change in Beneficial Owner)
Other Parties → PSPL trading account Waived
Income Insurance Shares Transfer Out Charges (No Change in Beneficial Owner)
PSPL trading account → Other Parties S$200
Handling Fee
Income Insurance Shares Handling Fee 2% of contract value (min of S$100)

1. PSPL reserves the right to revise the published rates and charges for the Income Insurance Share Liquidity Program from time to time. Please check for updates on the POEMS website.
2. All fees and charges are subject to GST.

FAQs

Share Transfer

  • You need to:
    1. have a trading account with PSPL;
    2. be an existing Income Insurance Limited shareholder;
    3. complete the custody transfer of your Income Insurance Shares to PSPL;
    4. be residing in Singapore;
    5. have an email address to receive correspondence and updates from PSPL; and
    6. not be a bankrupt.
  • Please visit the nearest Phillip Investor Centre with your letter from Income Insurance Limited to complete the following:
    1. Open a PSPL trading account, if you do not have an existing PSPL trading account.
    2. Complete & submit a Share Transfer Form that will be provided to you during your visit. This is to transfer custody of your shares to PSPL..
    3. Complete & submit the Declaration of Selling Interest Form to indicate your Limit Sell Price and Sell Quantity.

The Official Assignee (OA) or Private Trustee in Bankruptcy (PTIB) is usually appointed to administer your affairs in bankruptcy. Please approach your respective OA / PTIB regarding the transfer of your Income Insurance Shares.

You will need to bring:
  1. your identification document for identity verification purposes;
  2. your Tax Identification Number(s) for the country(ies) where you are a tax resident;
  3. physical copy of the announcement letter issued to you by Income Insurance Limited;
  4. Income Insurance Limited physical share certificate (only if the certification is held in your own custody);
  5. supporting documents for account opening as listed in point 1D below.
  • You must be at least 18 years of age
  • Not be a U.S person (an individual who is a U.S citizen or U.S resident)
  • Not a bankrupt
  • For Singapore Residents:
    • Have Singpass account
    • Passport for non-Singaporean and non-Singapore Permanent Resident
    • Bank Account Information
      1. Singapore Bank Account Details (DBS/POSB/OCBC/UOB/MAYBANK)
    • If mailing address is different from that in your Identity Card, please provide supporting document(s) issued within the last 3 months such as:
      1. Telephone bills/Utility bills/Bank statement or
      2. Statement from any financial institution in your country or
      3. Correspondence from any government bodies in Singapore
    *All copies of documentation have to be scanned or photographed from the original document(s).
  • For Non Singapore resident:
    • Local identification document and passport and above
    *All supporting documents should be in English. Otherwise, there is a need to have each of these specific documents translated and certified by a qualified translator/translation company.
  • We are sorry to inform that currently we are unable to offer the Income Insurance Share Liquidity Program to customers residing outside of Singapore.
  • We are working to make the Income Insurance Share Liquidity Program available to Income shareholders residing outside of Singapore in the near future. Please stay tuned for further announcements on our POEMS website.

Your submission is final and you cannot cancel it once submitted. Please exercise caution before submitting your selling request.

  • You may visit any of the following Phillip Investor Centres other than Phillip Investor Centre Lite:
Phillip Investor Centre Address / Operating Hours Contact Details
Raffles City Tower 250 North Bridge Road,
#06-00, Raffles City Tower
Singapore 179101

Opening Hours:
Mon – Fri: 9.00am to 6.00pm
Tel: 6533 6001 / 6812 1551
Email: rc@phillip.com.sg
Ang Mo Kio Blk 710A, Ang Mo Kio Ave 8
#01-2631 Singapore 561710

Opening Hours:
Mon – Fri: 9.00am to 6.00pm
Sat: 9.00am to 1.00pm
Tel: 6812 1522
Email: amk@phillip.com.sg
Boon Keng Blk 102 #01-264
Towner Road
Singapore 322102

Opening Hours:
Mon – Fri: 9.00am to 6.00pm
Sat: 9.00am to 1.00pm
Tel: 6812 1599
Email: boonkeng@phillip.com.sg
Bukit Batok Blk 636, #01-10
Bukit Batok Central
Singapore 650636

Opening Hours:
Mon – Fri: 9.00am to 6.00pm
Sat: 9.00am to 1.00pm
Tel: 6812 1533
Email: bkbatok@phillip.com.sg
Holland Drive Blk 43 #01-47
Holland Drive
Singapore 270043

Opening Hours:
Mon – Fri: 9.00am to 6.00pm
Sat: 9.00am to 1.00pm
Tel: 6812 1544
Email: hollanddrive@phillip.com.sg
Jurong West Blk 501 #01-275
Jurong West Street 51
Singapore 640501

Opening Hours:
Mon – Fri: 9.00am to 6.00pm
Sat: 9.00am to 1.00pm
Tel: 6812 1511
Email: jwest@phillip.com.sg
Marine Parade Blk 80, #01-782
Marine Parade Central
Singapore 440080

Opening Hours:
Mon – Fri: 9.00am to 6.00pm
Sat: 9.00am to 1.00pm
Tel: 68121577
Email: marineparade@phillip.com.sg
Northpoint City 930 Yishun Ave 2 #02-168
Northpoint City, South Wing
Singapore 769098

Opening Hours:
Mon – Fri: 9.00am to 6.00pm
Sat: 11.00am to 6.00pm
Tel: 6812 1588
Email: northpoint@phillip.com.sg
Raffles Place 1 Raffles Place #03-20
One Raffles Place
Singapore 048616

Opening Hours:
Mon – Fri: 9.00am to 6.00pm
Tel: 6812 1500
Email: raffles@phillip.com.sg
Toa Payoh Blk 177, #01-132
Toa Payoh Central
Singapore 310177

Opening Hours:
Mon – Fri: 9.00am to 6.00pm
Sat: 9.00am to 1.00pm
Tel: 6812 1566
Email: tpy@phillip.com.sg

This information should be obtained from Income’s share registrar, Boardroom, which may be contacted via income@boardroomlimited.com or call (65) 6536 5355.

Share Custody

Upon successful transfer of custody, your Income shareholding will also be updated and reflected in your POEMS account. You may also receive a letter from Income Insurance’s share registrar after the transfer is successfully effected.

  • You may login to POEMS using your account number and view your shareholdings under “Account Details”. You may also view your shareholdings in the monthly account statement issued by PSPL to you, or you may contact the trading representative / advisor.
  • We encourage you to subscribe to e-Statements (electronic versions) for your monthly statements and contract notes. It is safe, secured and environmentally friendly, and you will be able to retrieve the e-Statements online via POEMS anytime, anywhere. You will be able to access up to 12 months for past monthly statements and up to 3 months for past contract notes.

If your Income Insurance Shares are in the custody of PSPL, and you hold Income Insurance Shares on, or one working day before, the corporate action record date (or date of record), dividends issued by Income in cash will be processed and credited into your trading account within 2 (two) working days after PSPL receives the dividend payment(s). Please note that handling fees will be levied on corporate actions. Corporate announcements will be made by Income Insurance Limited.

If you require assistance about the Income Insurance Share Liquidity Program, please do not hesitate to reach out to the nearest Phillip Investor Centre, or email to talktophillip@phillip.com.sg and/or call us at (65) 6531 1555.

Potential Liquidity

Please refer to the announcement page for latest update of the Income Insurance Share Liquidity Program.

Please refer to the announcement page for the latest update of the Income Insurance Share Liquidity Program.

Please refer to the Fee Schedule of the Income Insurance Share Liquidity Program.

Please note that Income Insurance Limited is a public non-listed company limited by shares, and Income Insurance Shares are not publicly traded or listed on a stock exchange. You may refer to the equity research reports on Income Insurance Ltd here.

  • PSPL acts as principal when buying the Income Insurance Shares from customers. It is important to know that there is no guarantee that PSPL will buy the customer’s Income Insurance Shares upon the customer submitting his/her selling order. PSPL is not obligated to purchase based on every selling interest request.
  • Your selling interest may only be processed on the day on which orders for Income Insurance Shares may be executed (“Trade Date”) based on price and time priority of your order submission.
  • Any portion of the sell order that can be bought by PSPL, will be executed. The remaining unexecuted selling order will be cancelled at the end of the Trade Date.
  • Your selling interest request will be cancelled in the event that PSPL is unable to execute your sell order by end of the Trade Date.
  • You will receive a contract statement from PSPL on Trade Date + 1, if any trade or partial trade has been executed.
  • Please note that you will not receive a contract statement from PSPL if PSPL is unable to execute your Day Limit Order on Trade Date.

Sales proceeds will be credited into your trading account by Trade Date + 3 Business Days. The sale proceeds are held by PSPL in a trust account on your behalf. The cash balance will be reflected in your monthly statement of account. You may also view your account balance online in POEMS.

  • PSPL provides a service to manage the cash balance in your trading account. You may wish to use your available cash to settle your future trade(s). No further settlement instruction is required so long as you ensure sufficient funds are available for settlement of your trades.
  • You may also withdraw your sale proceeds anytime with no lock-in period.
  • To withdraw your sale proceeds:
    1. Please login to POEMS and go to Stocks >> Acct Mgmt >> Online Forms
    2. You will need to indicate the amount you wish to withdraw and which bank account you want the funds to be credited into.
    3. The cut off time for submitting the online withdrawal form is 10am on workdays. In general, if you submit the request before 10am, the amount will be credited into your bank account on the same day or one working day later (time varies, depending on bank).
    4. If you submit the request after 10am, the amount will be credited into your bank account one to two working days later (time varies, depending on bank).

Please refer to the announcement page for the latest update of the Income Insurance Share Liquidity Program.

Please refer to the announcement page for the latest update of the Income Insurance Share Liquidity Program.

  • PSPL does not offer any share purchase option to retail customers.
  • You will only be able to liquidate your Income Insurance Shares currently.

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IMPORTANT INFORMATION

This material is provided by Phillip Capital Management (S) Ltd (“PCM”) for general information only and does not constitute a recommendation, an offer to sell, or a solicitation of any offer to invest in any of the exchange-traded fund (“ETF”) or the unit trust (“Products”) mentioned herein. It does not have any regard to your specific investment objectives, financial situation and any of your particular needs. You should read the Prospectus and the accompanying Product Highlights Sheet (“PHS”) for key features, key risks and other important information of the Products and obtain advice from a financial adviser (“FA“) pursuant to a separate engagement before making a commitment to invest in the Products. In the event that you choose not to obtain advice from a FA, you should assess whether the Products are suitable for you before proceeding to invest. A copy of the Prospectus and PHS are available from PCM, any of its Participating Dealers (“PDs“) for the ETF, or any of its authorised distributors for the unit trust managed by PCM.  

An ETF is not like a typical unit trust as the units of the ETF (the “Units“) are to be listed and traded like any share on the Singapore Exchange Securities Trading Limited (“SGX-ST”). Listing on the SGX-ST does not guarantee a liquid market for the Units which may be traded at prices above or below its NAV or may be suspended or delisted. Investors may buy or sell the Units on SGX-ST when it is listed. Investors cannot create or redeem Units directly with PCM and have no rights to request PCM to redeem or purchase their Units. Creation and redemption of Units are through PDs if investors are clients of the PDs, who have no obligation to agree to create or redeem Units on behalf of any investor and may impose terms and conditions in connection with such creation or redemption orders. Please refer to the Prospectus of the ETF for more details.  

Investments are subject to investment risks including the possible loss of the principal amount invested. The purchase of a unit in a fund is not the same as placing your money on deposit with a bank or deposit-taking company. There is no guarantee as to the amount of capital invested or return received. The value of the units and the income accruing to the units may fall or rise. Past performance is not necessarily indicative of the future or likely performance of the Products. There can be no assurance that investment objectives will be achieved.  

Where applicable, fund(s) may invest in financial derivatives and/or participate in securities lending and repurchase transactions for the purpose of hedging and/or efficient portfolio management, subject to the relevant regulatory requirements. PCM reserves the discretion to determine if currency exposure should be hedged actively, passively or not at all, in the best interest of the Products.  

The regular dividend distributions, out of either income and/or capital, are not guaranteed and subject to PCM’s discretion. Past payout yields and payments do not represent future payout yields and payments. Such dividend distributions will reduce the available capital for reinvestment and may result in an immediate decrease in the net asset value (“NAV”) of the Products. Please refer to <www.phillipfunds.com> for more information in relation to the dividend distributions.  

The information provided herein may be obtained or compiled from public and/or third party sources that PCM has no reason to believe are unreliable. Any opinion or view herein is an expression of belief of the individual author or the indicated source (as applicable) only. PCM makes no representation or warranty that such information is accurate, complete, verified or should be relied upon as such. The information does not constitute, and should not be used as a substitute for tax, legal or investment advice.  

The information herein are not for any person in any jurisdiction or country where such distribution or availability for use would contravene any applicable law or regulation or would subject PCM to any registration or licensing requirement in such jurisdiction or country. The Products is not offered to U.S. Persons. PhillipCapital Group of Companies, including PCM, their affiliates and/or their officers, directors and/or employees may own or have positions in the Products. Any member of the PhillipCapital Group of Companies may have acted upon or used the information, analyses and opinions herein before they have been published. 

This advertisement has not been reviewed by the Monetary Authority of Singapore.  

 

Phillip Capital Management (S) Ltd (Co. Reg. No. 199905233W)  
250 North Bridge Road #06-00, Raffles City Tower ,Singapore 179101 
Tel: (65) 6230 8133 Fax: (65) 65383066 www.phillipfunds.com