Income Insurance Share

• 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.

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:

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

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.

Please download the relevant forms here.

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.