| 1. Who can open a Share Financing Account?
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Anyone
who is above the age of 21 years old.
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| 2. Can I open a joint Share Financing
Account? |
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| 3. Can I open a corporate Share Financing Account?
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| 4. How long does it takes to start an account? |
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Your
share financing account will be ready for trading within five
working days from the day we receive your application, if it
is approved.
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| 5. What are the requirements to be able to open a Share
Financing Account from overseas?
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i. You need to be 21 years and above to open an account
with us.
ii. Your account opening documents need to be certified by
a public notary,
commissioner of oaths, or judicial officer.
iii. You are not blacklisted with the Singapore Exchange (SGX)
or with any other
securities firm nor have any delinquent
account with any other securities firm.
iv. You will need to place a minimum deposit of S$1000.
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| 6.
How long will it take to open an account from overseas?
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This
will depend on the postage time it takes to send the forms to
you and for you to send the completed forms back to us.
Furthermore, once the account is opened, we will send the
Internet password via mail. Thus, the whole account opening
process will take approximately two weeks or more.
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| 7. Can I sell my existing shares through Share Financing
Account?
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No.
You would have to transfer the shares into your Share
Financing Account before you can sell them.
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| 8. Can I sell those shares allotted (IPO Shares) through
Share Financing Account?
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No.
You would have to transfer the shares into your Share
Financing Account before you can sell them.
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| 9. How do I transfer the shares into my Share Financing
Account?
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You
can transfer the shares by signing the relevant forms. Please
contact your trading
representative for a copy of the form.
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| 10. How long does it take for shares to be transferred into
my account?
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It
will take about two working days for the shares to be
transferred into your Share Financing Account.
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| 11.
When must I deposit the required collateral for my
outstanding purchase?
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The
required collateral must be received by the due date (i.e.
T+3). Please take note that share transfer takes two working
days to be effective.
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| 12. Can I contra my trades? |
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Yes,
except for US trades.
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| 13. What are the charges for this account?
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Schedule
of Charges
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Type
of Service
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Charges
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Financing
Rate
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7%
per annum
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Quarterly
Maintenance Charge
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$15.00
per quarter
(Quarterly
trading activity is accessed at Mar, Jun, Sep, and Dec
month end)
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Phillip
Securities – Schedule of Charges
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Foreign
Share
Custody
Charges
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$2.14
per counter per month
(inclusive
of GST)
(subject
to max $160.50 per quarter)
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Dividend
Charges
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<S$100
-
$1.07 (inclusive
of GST)
>S$100
-
1%
of Net Dividend, max.
S$53.50 (inclusive of GST)
*In
addition, handling charges are also imposed by foreign
custodians for foreign shares
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Corporate
Actions
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Cash
offer, Capital Distribution, Redemption of Loan Stock/
Bonds, Scripless Conversion
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$10.70
(inclusive of GST)
(For
scripless conversion, there is an additional charge by
CDP of $20.70)
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Rights
Issue
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S$5.35
handling fee + S$5.35 cashier’s order per SGX
counter
(inclusive
of GST)
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CDP
Charges
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Share
Transfer Charges
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$10.70
(inclusive of GST) transfer fee per counter charged by
CDP
Additional
$10.00 handling charges per counter for transfer out
of Phillip.
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Sub
to Sub Transfer Charges
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$10.70
(inclusive
of GST) per
counter per 1000 shares charged
by CDP
(subject
to max S$107)
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Phillip
Financial Pte Ltd reserves the right to revise the published
rates and charges from time to
time.
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