Last Updated on by Tree of Wealth
A strategy aimed at promoting asset growth and transforming Singapore into a nation of shareholders.
The Special Discounted Shares (SDS) Initiative falls under the broader umbrella of the government’s strategy aimed at promoting asset growth and transforming Singapore into a nation where the citizens have a more significant ownership interest in the country.
Singaporeans who are part of the Central Provident Fund (CPF) had the opportunity to acquire discounted shares from Singapore Telecom (Singtel) in 1993 (known as ST “A” shares) and again in 1996 (termed as ST2 shares). CPF members who decided to retain their discounted Singtel shares were then eligible to receive loyalty shares.
Monitoring Your Investments
In order to view your discounted Singtel shares and dividends, you need to utilize the ‘my cpf’ digital services. Start by logging in using your Singpass. Once logged in, navigate to the ‘my cpf’ section. From there, proceed to ‘My dashboards’. Here, you’ll find an option labeled ‘Investment’. By clicking on this, you can monitor the status of your discounted Singtel shares and dividends.
Disposing of Your Investments
When it comes to liquidating your discounted Singtel shares, there are three routes you can take. Upon successful sale, the proceeds will be directed back to your CPF Ordinary Account (OA). Should you meet the CPF withdrawal conditions, you can file an application to withdraw these proceeds from your OA.
The first method is the Internet-Based Sale Mechanism. To utilize this, you’ll need to log in to ‘my cpf’ digital services with your Singpass. Head over to ‘my cpf’, click on ‘My dashboards’, and then navigate to ‘Investment’. Here, you will find an option to ‘Sell your shares’ under the Discounted Singtel shares segment in the Investment dashboard.
The second option involves the Singapore Post Office. You can sell your discounted Singtel shares at any SingPost branch. However, please note that SingPost requires a minimum of 10 shares for sale and you’ll need to provide the following documents: your identification card and the most recent copy of your CPF Statement of Account that shows the number of discounted Singtel shares in your CPF account.
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The third and final option is through a Singapore Exchange (SGX) brokerage firm. If you have a trading account with a stockbroker, you can opt to sell your discounted Singtel shares through them.