Under The Angsana Tree: March 2019

31/03/2019

Wealth Planning Specialist

Ever wondered what happens to debt when someone passes on?

Or that the retirement and re-employment ages beyond 62 and 67 is set to be increased.

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30/03/2019

Being a South-African, you most probably know the term “load shedding” as everyone experienced that a few years ago. Living in Polokwane, you might also be used to frequent electricity problems. Therefore, to be at least one hour without electricity is not that unusual. Since we are very dependent on electricity, for charging our cell phones, watching television, or surfing the internet, we often find that we have nothing to do when the electricity is down. Although being in the dark is not ideal, it is also not the end of the world.

Once a year, for one hour, everyone on earth are expected to switch of their electricity and experience life without power, at night. This is called Earth Hour and this year it falls on Saturday, 24 March.

The first ever Earth Hour was held on 31 March 2006 in Sydney, Australia. San Francisco was the next major city to run a program related to saving power in October 2007. By 2008, 35 countries in the world were participating on all seven continents. Between 20:30 and 21:30, hundreds of cities in these 35 countries turned of their lights. In 2016, the number of countries participating grew to 170.

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How to explain Earth Hour to kids

Chicago will show its dark side on Saturday, and that’s a good thing. At 8:30 p.m. on Saturday, The Willis Tower, Navy Pier's Centennial Wheel, the Hancock Center, the Chicago Board of Trade, Northwestern University and other buildings around the city will turn off the lights for one hour as part of the World Wildlife Fund’s Earth Hour.

They are flipping the switch to show support for taking action to fight climate change and protect nature.

This is the twelfth year Earth Hour has taken place and landmarks across the country are participating, including the Empire State Building, the Superdome and the Space Needle. (You can find a full list of participants here)

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Earth Hour 2018

ON SATURDAY 24 MARCH 2018, MILLIONS OF PEOPLE AROUND THE GLOBE ONCE AGAIN CAME TOGETHER FOR EARTH HOUR. FROM COLOMBIA TO INDONESIA TO FIJI, EARTH HOUR 2018 MOBILIZED PEOPLE, FOR THE FIRST TIME, TO CONNECT2EARTH AND SHARE WHAT NATURE MEANS TO THEM, IN THE PLACES THEY LIVE IN AND CARE ABOUT.

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29/03/2019

Why some vacationers like to dress to impress

© Provided by AFPRelaxNews A global survey shows how some holidaymakers dress to impress when they travel

If you're the type of holidaymaker who spends as much time planning out your vacation wardrobe as your travel itinerary, the results of a new global survey show you're hardly alone.

With New York, Milan and Paris set to pull out the runways for fashion week season, Booking.com has released the results of a new travel and fashion survey that polled 21,500 travelers across 29 countries on what holidaymakers pack in their suitcases.

Turns out that for some, the holidays present the perfect opportunity to step out of their sartorial shell.

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28/03/2019

Latest Scoot flight incident is 12th major disruption in 5 months

Scoot CEO’s apology for service disruption wins praise from PR fraternity

Scoot’s CEO Lee Lik Hsin has apologised for the airline clocking at least 12 major flight disruptions caused by technical issues since November 2018. In an interview with The Straits Times, the CEO said that the brand has “heard the feedback [of the people] loudly and clearly” and noted that customer confidence in the brand has dropped. He also added that he was aware this might lead to customer purchasing decisions being affected.

In the interview, Lee also shared steps taken by the airline to intensify its aircraft maintenance and inspections, as well as to address engineering issues and service gaps.

His interview with the national paper, said Hilary Davies, managing director for W Communications Singapore, spoke volumes to help with public perception. It also shows the brand as an agile one, ready to act on issues. “Having [the CEO] front the communications around these updates speaks volumes, showing this isn’t just hot air. However having taken a step into the spotlight, Lee will need to remain visible to truly build and maintain public trust,” added Davies.

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Latest S’pore to Taipei Scoot flight incident is 12th major disruption in 5 months

Oxygen masks deployed by pilots as precautionary measure

Scoot has revealed that the activation of oxygen masks on board flight TR996 on Sunday, March 24 was initiated by its pilots. Flight TR996 was travelling from Singapore to Taipei when it experienced abnormal cabin pressure during descent.

Passengers were not informed about the exact nature of the difficulties until now, two days after the incident occurred.

CNA reported this latest incident is the 12th known major flight disruption caused by aircraft technical issues that Scoot has experienced in five months since November 2018.

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Pilots’ decisions contributed to loss of cabin pressure on flight TR996: Scoot

Oxygen masks activated on Scoot flight TR996 during landing at Taipei's Taoyuan International Airport. (Photo: 8WorldNews/张福麟)

Singapore Airlines’ budget arm, Scoot, has revealed that the activation of oxygen masks on board flight TR996 on Sun (Mar 24) was initiated by its pilots.

In a statement to Channel NewsAsia, Scoot said that “preliminary investigations indicated that the operating pilots made some procedural decisions in the descent phase of the flight that contributed to a slight loss of cabin pressure”. The pilots were flying an Airbus A320-200 from Singapore to Taipei, when the incident occurred.

The latest incident is among a string of at least 12 major flight disruptions caused by aircraft technical issues that Scoot has experienced since November last year.

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SIA and CAAS should look into long flight delays by Scoot

I refer to the news report on the latest flight delay by Scoot which saw passengers stranded for over two days in Greece due to a technical fault. This marked the third such significant delay of a Scoot flight in four weeks. All had similar characteristics - technical fault, communication shortfalls and long remedy periods – plus pro forma responses from the operator.

Surely these should be raising red flags to parent company Singapore Airlines and to the aviation regulator, the Civil Aviation Authority of Singapore.

There are several observations that are concerning. First, Scoot is not using antiquated aircraft. These are modern and fairly recent acquisitions. To have so many suffer various technical faults in a short period is surely concerning.

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Scoot to retrain pilots of Taipei flight whose decisions led to drop in cabin pressure

Singapore budget carrier Scoot will be retraining the pilots who operated Flight TR996 from Singapore to Taipei on Sun (Mar 24), after their decisions led to a drop in cabin pressure and the activation of oxygen masks.

In a statement to The Straits Times on Tuesday, Scoot said preliminary investigations revealed that the pilots had made some "procedural decisions" while the plane was descending that contributed to a slight loss of cabin pressure.

While the flight would have continued on safely, the pilots nevertheless decided to deploy the oxygen masks as a precautionary measure, Scoot added.

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Scoot apologises for oxygen mask incident on Taipei flight, pilots to be retrained

One passenger said there was a smell of "burnt wiring" when the oxygen masks were deployed.PHOTO: FACEBOOK

When oxygen masks were deployed on a Scoot flight as it was preparing to land, the passengers were puzzled.

Their confusion turned to concern when the pilot announced that problems with the aircraft had caused a drop in cabin pressure. They were told to put the masks on.

Fear then set in when the Airbus A320 descended rapidly & some passengers noticed a burning smell.

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Scoot flight from Taipei to Singapore delayed for over 10 hours

Scoot passengers travelling from Taipei to Singapore were stuck at the Taoyuan International Airport for more than 10 hours on Sunday (March 24) after they were told that their flight was delayed due to a technical problem.

The Singapore bound flight, TR997, was originally scheduled to depart Taipei, Taiwan, at 2pm local time, but passengers were informed by staff about 30 minutes before takeoff that the flight had been rescheduled to 12.45am on Monday morning.

Responding to queries from TODAY, a Scoot spokesperson said that the preceding Flight TR996 from Singapore to Taipei had been grounded at the Taoyuan International Airport for investigations after oxygen masks were activated during the flight’s descent.

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Scoot's Taipei-Singapore flight turned back due to 'slight vibrations' on board; passengers affected by 18-hour delay

More than 160 passengers on a Singapore-bound Scoot flight from Taipei were affected by a flight delay that saw them return home about 18-and-a-half hours later than scheduled.

The 163 affected passengers landed in Singapore at 6.54pm on Wed (Mar 13), according to flight tracking site Flightradar24.

Scoot Flight TR993, which left Taipei's Taoyuan Airport at 7.36pm on Tuesday, turned back about one-and-a-half hours later.

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Scoot flight to Singapore turns back to Bangkok due to unclaimed bag

A Scoot flight bound for Singapore was forced to turn back to Bangkok an hour into its journey on Wednesday (Jan 30) due to an unaccompanied cabin bag that was unclaimed.

The airline said Scoot flight TR607 landed safely at Bangkok Suvarnabhumi Airport at around 2.10pm local time (3.10pm Singapore time).

“Preliminary investigations revealed that before departure, our ground handling agent had seen an unattended bag in the gatehold room, and handed it to our cabin crew, in the belief that it belonged to one of the passengers from TR607.

related: Scoot flight from Gold Coast to S'pore diverted after passenger causes disruption

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295 passengers affected after Scoot flight from Melbourne to Singapore cancelled due to technical issues

Two hundred and ninety-five passengers on a Scoot flight from Melbourne to Singapore were left stranded for at least five hours on Sun (Jan 27), after their flight was cancelled.

Flight TR19 was due to leave Melbourne at 1.20pm locally, and was supposed to arrive in Singapore at 6.45pm local time.

In response to queries from The Straits Times on Sunday, the budget airline said that TR19 had to be grounded in Melbourne Airport for rectification works due to a technical issue.

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Scoot flight from Gold Coast to Singapore diverted after passenger causes disruption

A Scoot flight heading to Singapore from Australia's Gold Coast was diverted to Sydney Airport on Monday (Jan 21) after an Australian man caused disruption on board.

Flight TR7 was diverted to Sydney Airport about 1 hour and 20 minutes into its journey.

"During boarding and take-off, the passenger appeared normal. After take-off, he began to disturb surrounding passengers," Scoot said in a statement.

related:
Scoot flight turned back to Changi Airport due to weather radar fault
Technical issue with Scoot plane grounds Bangkok passengers for 29 hours

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Scoot flight turned back to Changi Airport due to weather radar fault

A Scoot airplane was forced to turn back to Changi Airport less than an hour into its flight to Melbourne on Tue (Jan 8) due to a fault in its weather radar.

Responding to Channel NewsAsia's queries, the airline said the Boeing 787-8 landed back in Singapore at about 12.49pm - just 48 minutes after take-off.

"Due to a fault detected with the aircraft's weather radar component after take-off, Scoot flight TR24 scheduled to depart Singapore for Melbourne on 8 Jan at 11am local time had to turn back to Singapore after 48 minutes into the flight," said Scoot.

related:
Scoot passengers stranded in Taipei on New Year's Eve after flight to S'pore delayed
"Never again" - Scoot passengers arrive in Singapore after 56-hour delay

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Scoot flight turns back to Changi soon after take-off

In the latest operational hiccup to hit Scoot, a Singapore-Melbourne flight which left Changi Airport yesterday morning had to make a U-turn shortly after take-off.

Flight TR24, which departed at 11am, was forced to return 48 minutes into the flight after pilots discovered a fault with the aircraft's weather radar component.

Confirming the incident, a Scoot spokesman told The Straits Times that the Boeing 787 landed safely in Singapore at 12.49pm.

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S’pore-bound Scoot flight from Greece delayed two days, passengers stranded

Barely a day after a Bangkok-bound Scoot flight from Changi Airport was delayed by 7 hours, passengers on another flight by the airline were hit by another delay on Monday (Nov 26), this time by 29 hours.

Flight TR869 was scheduled to depart from Bangkok’s Don Mueang International Airport for Singapore at 4.25pm on Monday, but was retimed to 10.10pm on Tuesday.

The airline said the plane was scheduled to depart from Tokyo for Singapore via Bangkok, when it encountered technical difficulties.

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Scoot flight to Bangkok delayed 7 hours at Changi Airport due to technical issue

Passengers on a Scoot flight to Bangkok on Sun (Nov 25) were stranded at Changi Airport for nearly seven hours due to a technical issue with the aircraft.

Flight TR616 was due to depart the airport's Terminal 2 at 5.30pm, but took off only at 12.28am, after travellers were transferred to a replacement aircraft.

As a result of this, the return Bangkok-Singapore flight was also delayed for about six hours.

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S’pore-bound Scoot flight from Greece delayed two days, passengers stranded

Passengers on a Scoot flight bound for Singapore have been stranded in Greece for more than 2 days after a technical fault saw them boarding and disembarking the aircraft multiple times.

Flight TR713, with 321 passengers, was originally scheduled to depart Athens at 11.20am local time on Dec 18, but has so far been delayed three times. It is due to depart Athens on Thursday (Dec 20) at 1.05pm local time (7.05pm Singapore time).

A Channel NewsAsia reader said that multiple Singaporean families were affected by the delay. The reader said: "We have many Singaporean families here stranded at Athens International Airport. We were supposed to take (the) Scoot flight TR713 that was scheduled to depart on Dec 18 at 1120hrs back to Singapore. But as of now, Dec 19, all of us are still stranded in the airport. It has been more than 24 hours."

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Technical issue delays second Scoot flight in two days, this time by 29 hours

Barely a day after a Bangkok-bound Scoot flight from Changi Airport was delayed by 7 hours, passengers on another flight by the airline were hit by another delay on Mon (Nov 26), this time by 29 hours.

Flight TR869 was scheduled to depart from Bangkok’s Don Mueang International Airport for Singapore at 4:25pm on Monday, but was retimed to 10:10pm on Tuesday.

The airline said the plane was scheduled to depart from Tokyo for Singapore via Bangkok, when it encountered technical difficulties.

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related:
Spate of Scoot 'flight disruptions'
Spate of Teacher-Student Misconduct
Spate of SingPost 'service failures'
Spate of Data Breaches In Singapore
Spate of Fire break outs
Spate of MOH's slip-ups
Spate of food poisoning cases
Spate of child abuse cases
Spate of molestation and outrage of modesty
Spate of MRT disruptions
Spate of e-bike accidents
Spate of cars flipping over
Spate of vehicles on fire
Spate of facade cladding falling off
Spate of Escalator accidents
Spate of lift accidents
Latest Scoot flight incident is 12th major disruption in 5 months
World's Best Airline 2019
Second Flight Delay In Two Days

27/03/2019

World's Best Airport 2019

Update 12 May 2020: Changi Airport’s T4 to be closed from May 16, second terminal shut in a month

Changi Airport will suspend its Terminal 4 operations from Saturday (May 16)

Changi Airport will be suspending its Terminal 4 operations from Saturday (May 16) due to the sharp fall in air travel caused by the ongoing Covid-19 pandemic.

This is the second terminal at Changi Airport to be shut in a month, after Terminal 2 was closed on May 1 to bring down running costs and speed up upgrading works there.

In a media release on Tuesday, Changi Airport Group (CAG) said the move will enable it to continue to save on running costs such as utilities and cleaning.

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Changi Airport T4 to suspend operations from May 16, following T2 suspension earlier; move will save running costs

The operation of Changi Airport Terminal 4 will be suspended to further consolidate airport operations.ST PHOTO: ALPHONSUS CHERN

Changi Airport will suspend operations at Terminal 4 from May 16, following a suspension of services at Terminal 2 earlier this month.

In a statement on Tuesday (May 12), Changi Airport Group said: "Changi Airport's terminal operations will be consolidated further to optimise resources in tandem with the sharp decline in flight movements because of the global Covid-19 pandemic.

"This move will enable CAG and its airport partners to continue to save on running costs such as utilities and cleaning."

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Singapore to shut Changi’s Terminal 2 for 18 months due to COVID-19

The departure hall of Changi Airport’s Terminal 2. Photo: Muhammad Hasbi

Singapore will shut Terminal 2 of the Changi Airport as part of a cost-cutting move due to the COVID-19 pandemic, which has seriously affected the country’s tourism industry.

All operations at the terminal, including retail, will be suspended for 18 months starting May, Transport Minister Khaw Boon Wan reportedly announced in Parliament today. He also hinted at more closures, noting that only one terminal has so far been enough to handle the traffic at the airport.

Airlines operating at the terminal will be transferred to Changi’s remaining three terminals next month. Singapore Airlines will operate from Terminal 3. “We will save on running costs – for the airport operator, retail tenants, airlines and ground handlers,” The Straits Times quoted him as saying.

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Singapore Changi Airport to close Terminal 2 due to drop in travellers

One of the world's busiest passenger hubs, Singapore Changi Airport, will reduce services and close Terminal 2 for 18 months due to a drop in demand. Courtesy Changi Airport Group

Operations at one of the world’s busiest airports are being consolidated due to a drop in demand because of travel restrictions designed to prevent the spread of the coronavirus. Terminal 2 at Singapore Changi Airport will close from Friday, May 1, and will remain closed for at least 18 months.

“In view of the steep decline in passenger traffic and the likelihood that air travel demand will not return to pre-Covid-19 levels in the near term, terminal operations at Changi Airport will be consolidated,” Changi Airport Group said. All flight operations will be consolidated across Changi’s other terminals. Details of which terminal airlines have been relocated to will be announced closer to Friday, May 1.

The decision is a way of cut running costs and to “optimise resources across the airport's terminals to better match the low travel demand”, CAG said. Operations at Terminal 4 have also been reduced and could be temporarily suspended if more airlines adjust their schedules.

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COVID-19: Operations at Changi Airport's Terminal 2 to be suspended for 18 months from May

Operations at Changi Airport's Terminal 2 will be redistributed across the other terminals, said Khaw. (PHOTO: Dhany Osman / Yahoo News Singapore)

Changi Airport will be suspending operations at Terminal 2 (T2) for 18 months from May, said Transport Minister Khaw Boon Wan in Parliament on Monday (6 April). “Right now, one terminal is enough to handle the current volume of demand. We can close down one or two terminals,” he said. “But we must think about post-pandemic recovery. While full recovery this year is unlikely, partial recovery next year is probable. We must be ready to lead, and to ride the recovery when it happens.”

The move comes amid plunging air traffic amid the global COVID-19 pandemic, which has severely impacted Changi Airport and businesses located there. “Changi Airport is deserted. Airlines, ground handlers, airport shops and restaurants have experienced a sharp fall in business. The workers have seen huge pay cuts, said Khaw. He spoke following Finance Minister Heng Swee Keat’s announcement of a $5.1 billion Solidarity Budget to help the Singapore economy tide through its one-month circuit breaker period. Khaw noted that T2 operations will be redistributed across the remaining terminals during the suspension period, with Singapore Airlines (SIA) consolidating its operations at Terminal 3.

“It will save on running costs for the airport operator, retail tenants (and) airlines. Importantly, it also allows us to speed up the current upgrading works at T2 and shorten the project time by up to one year,” he said. “We will ensure sufficient capacity for all airlines to grow when passenger traffic recovers,” he added. Khaw also said that the pandemic’s impact on air travel and airport operations would also affect the development of Terminal 5 (T5). “Fortunately T5 was designed to be modular so the construction can be scaled up and down as necessary,” he said.

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Covid-19: Changi Airport Group to close Terminal 2 for 18 months

Changi Airport Group (CAG) has announced that it will suspend operations at Terminal 2 of Singapore Changi Airport due to reduced passenger traffic amid the Covid-19 pandemic

CAG stated that it does not expect the passenger traffic at Changi Airport to return to the levels before the Covid-19 outbreak and consolidating its operations will help in saving on running costs and optimising resources. The operations at T2 will be suspended for 18 months from 1 May. This will help in accelerating the expansion works at T2, which are scheduled to complete in 2024 and bring forward the completion by one year.

CAG has started talks with the T2 airport partners and concessionaires about the available options. In addition, CAG has reduced operations at Terminal 4 due to significantly reduced flights. It has allocated a few boarding gates and has permitted shops to close after the last flight departs for the day.

CAG stated that it may temporarily suspend operations at T4 if the remaining airlines at the terminal change their schedules.

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Changi airport to close Terminal 2 for 18 months from May

The departure hall of Changi Airport’s Terminal 2 on 5 April

Singapore’s Changi airport is closing Terminal 2 (T2) for 18 months from May 1 due to the dramatic fall in traffic as a result of the coronavirus crisis.

Transport minister Khaw Boon Wan told parliament on 6 April that the impact on Changi was “severe”, describing the airport, which has four terminals, as “deserted”.

“Right now one terminal is enough to handle the current volume of demand. We can close down one or two terminals. But we must think about post-pandemic recovery.” The move will allow the airport operator, retail tenants, airlines and ground handlers to save on running costs, he added.

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COVID-19: Changi Airport's Terminal 2 To Suspend Operations For 18 Months From May 1

In a bid to save costs, operations at Changi Airport’s Terminal 2 will be suspended for 18 months from 1 May 2020

This move is made in the midst of the coronavirus outbreak that has hit the airline industry severely, as well as for Changi Airport, which has seen the number of passengers arriving at the airport fall by more than 90% since the outbreak.

“We will save on running costs — for the airport operator, retail tenants, airlines and ground handlers,” said Transport Minister Khaw Boon Wan in Parliament today (April 6).

With the suspension of T2 operations, airlines will be reallocated across the remaining three terminals. Singapore Airlines (SIA) will consolidate its operations in Terminal 3. Mr Khaw said that the suspension would allow speeding up of the current upgrading works at T2 and shorten the project time by up to one year.

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Singapore's Changi Airport to close Terminal 2 for 18 months

Singapore will suspend its Changi Airport Terminal 2 for 18 months from May 1 due to a massive downturn in traffic due to the coronavirus. The airlines in Terminal 2 will be reallocated across the remaining terminals. Its Terminal 4 operations have also been scaled down considerably. Changi Airport may consider suspending operations temporarily if the remaining airlines choose to suspend or adjust their flight schedules.

Singapore Transport Minister Khaw Boon Wan said the shutting of Terminal 2 will speed up current upgrading works. "Changi Airport is deserted. Airlines, ground handlers, airport shops and restaurants have all experienced a sharp fall in business," he said.

"Their workers have seen huge pay cuts. I met them often, face to face, at the airport. As the virus grew into a global pandemic, I saw increasing fear in their eyes," reported Today Online. The airport operator, Changi Airport Group (CAG), said air travel demand will not return to pre-Covid-19 levels in the near term.

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Covid-19: As demand falls, Singapore to close Changi Airport's terminal 2 for 18 months

One terminal is enough to handle the current traffic at the airport, says Transport Minister Khaw Boon Wan

Singapore will suspend operations of Changi Airport's terminal 2 for 18 months from the beginning of next month following a sharp drop in passenger traffic due to the novel coronavirus outbreak.

Changi Airport is Singapore's main civilian airport and is one of the largest transportation hubs in Asia. It has four terminals. "We will save on running costs for the airport operator, retail tenants, airlines and ground handlers," Transport Minister Khaw Boon Wan told Parliament on Monday, after announcing plans to halt operations at the airport's terminal 2 from May 1.

"While full recovery this year is unlikely, partial recovery next year is probable. We must be ready to lead and to ride the recovery when it happens," said the minister.

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The World’s Best Airports in 2019 are announced

Changi Airport Singapore is voted the World's Best Airport 2019 by international air travellers for the seventh consecutive year

This is the first time in the history of the awards that an airport has won this title for seven consecutive years. Changi Airport was also the repeat winner of the award for the Best Airport Leisure Amenities. The awards were held at Passenger Terminal EXPO in London, United Kingdom on 27th March 2019.

The World’s Top 10 Airports of 2019 are:

Singapore Changi Airport
Tokyo Haneda International Airport
Incheon International Airport
Hamad International Airport
Hong Kong International Airport
Chubu Centrair International Airport
Munich Airport
London Heathrow Airport
Narita International Airport
Zurich Airport

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NO ONE VISITS A CITY BECAUSE OF ITS AIRPORT

Singapore’s Changi has been voted the world’s best six years running — yet one observer says he remembers so little of it

Does it matter? No one visits a city because of its airport. Even the decision about where to connect usually rests on price, convenience, and possibly the quality of the airline, rather than the airport you are going to spend a little time in.

But, given the advances in aviation during the past few decades, it is strange that so little attention has been devoted to making the terminals more memorable.

Why is there no airport that matches the great railway stations’ sense of occasion? Where is the aviation counterpart to New York’s Grand Central Station or London’s St Pancras, or even its magnificently remodelled neighbour, King’s Cross?

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SIA Plans To Raise Up To S$15B From Existing Investors To Regain Its Wings Amid COVID-19

Troubled by deepening impacts of the Covid-19 outbreak, Singapore Airlines (SIA) is just at the beginning of a heavy blow. The national carrier has suffered a 95 per cent reduction in capacity so far, which severely puts a dent in revenue, while it still has to continue incurring fixed costs like manpower and parking charges. On Monday, SIA CEO Goh Choon Pong increased the company’s cost-cutting measures, including implementing no-pay leave for staff and larger pay-cuts for management, affecting about 10,000 employees in total.

Today, the airline said it will be raising up to S$15 billion from existing investors through the sale of shares and convertible bonds, to tide through the shock from the coronavirus. This comes as SIA’s shares fell to their lowest in 22 years. The firm, on Thursday morning, halted trading before revealing this announcement. SIA will issue up to 1.77 billion new shares to existing shareholders at S$3 per share. On the basis of three rights shares for every two existing shares held by shareholders, it expects to raise S$5.3 billion. This is about a 54 per cent discount from SIA’s last traded share price of S$6.50.

Another S$9.7 billion will come from issuing mandatory 10-year convertible bonds at $1 each, on the basis of 295 bonds for every 100 existing shares owned. In the meantime, SIA has also arranged for a S$4 billion bridge loan facility with DBS. This fundraising is being underwritten by Temasek Holdings, SIA’s largest investor which owns about 55 per cent of its shares.

related: Changi Airport's Terminal 2 To Suspend Operations For 18 Months From May 1

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