1 What are the minimum criteria to be quoted on OTC Capital ("OTC")?
The following are some of the key criteria (although not exhaustive) and these include the following: applicant must be incorporated in Singapore and must have a public company structure prior to be quoted on the OTC, and attractive business model. Please refer to OTC Capital-Minimum Admission Standards for a full listing of the criteria for admission to the OTC Capital.
2 What is the maximum amount of funds that I can raised through OTC Capital?
SGD 5m or less within 12 months
3 How long does it take to be quoted on the OTC Capital?
Timing varies from case to case. In general, the time taken to be admitted to the OTC Capital should be no longer than listing on the Main board or SESDA since quoting on the OTC does not require the filing of a prospectus with the Monetary Authority of Singapore("MAS"). On the average it should be around 4 months
4 What are the charges incurred to be quoted on the OTC Capital?
Click
here for more information
5 Can I issue Preferential Shares on OTC Capital?
Not for the time being. But if there is a requirement, we will look into it.
6 Can I use my own Corporate Advisor?
Yes. However, note that the appointed Corporate Advisor must hold a CMS (Capital Market Service) Corporate Finance License.
7 I do not have a Corporate Advisor. How can OTC Capital help?
OTC can recommend a Corporate Advisor who holds a CMS Corporate Finance License to assist the company in its admission to the OTC Capital. The appointed Corporate Advisor is to perform due diligence on the company amongst other functions.
8 What information needs to be provided after quoted on OTC Capital?
Companies quoted on the OTC Capital are required to submit their semi & annual financial reports twice a year, the annual report must be audited. Also timely submission of corporate news or event announcement relating to the company is required. News/announcements will be uploaded into restricted OTC module to keep investors updated on the latest events taking place in the company.
9 What is the tradable lot size?
There is no minimum or maximum investment lot size.
10 Are PRs and foreigners restricted from trading in securities quoted on the OTC Capital?
Singaporeans, PRs and foreigners can engage in trading of shares quoted on OTC. However, all investors regardless of nationality, have to open a securites trading account (POEMS) with Phillips Securities Pte Ltd ("PSPL") and register with OTC. Click
here for more information.
11 What is the trading session for the OTC Capital?
Trading days are from Monday to Friday and are closed on Saturday, Sundays and Singapore recognised public holidays. Trading sessions are broken up into morning and afternoon sessions. The morning trading session will commence from 9.00am - 12.30pm and the afternoon trading session will commence from 2.00pm - 5pm.
12 What is the timeline for share settlement?
All transacted shares are due for settlement on T + 3 basis. For example, settlement date for shares purchased on Monday, is on Thursday by 9.00pm. Should a public holiday fall within the 3 market days of the settlement period or on the due date, the settlement date will be the subsequent market day.
13 What happens if payments for shares purchased are not received by the settlement due date?
Transacted shares will be forced sold by Phillip Securities if payment is not received by the settlement due date.
14 How can I settle my trades?
There are several options available for making payments for purchased shares. Payments can be made through your bank's ATM via Electronic Payment for Shares (EPS) or GIRO if this arrangement is established. Cheque or cash payment at Phillip Securities cashier counter at the main office at Raffles City is another option. Payment at any other Philip Securities branches is not acceptable. Please note that NETS or payment by credit cards are not acceptable.
Alternatively, if you have applied for your bank's Internet Banking Services, you may make payments via Bill Payment function. Please note that this mode of payment will require 2 working days before payment is received by Phillip Securities Pte Ltd.
The consumer/bill reference code required for Bill Payment through the various participating banks is as follows:
DBS :20< TR* code>< Last 6 digits of Trading A/C No>
OCBC :20< TR* code>< Full 7 digits of Trading A/C No>
UOB :20< TR* code>< Full 7 digits of Trading A/C No>
Standard Chartered :< Full 7 digits of Trading A/C No>
Maybank :< Last 6 digits of Trading A/C No>
*TR: Trading Representative Code
15 When must settlement be done if EPS is used for payments?
Payment via EPS must be made by the due date (T + 3) before 9.00pm. Late payment does not provide sufficient time for banks to transfer the funds to Phillip Securities Pte Ltd.
16 When will the sale proceeds be credited to you for the shares sold?
If your EPS linkage has been established, Phillip Securities Pte Ltd would credit your sale proceeds into your bank account one market day after the due date (T+4). Your bank statements would only reflect this amount on the next market day (D+2).If you do not have EPS arrangement, a cheque will be mailed to you on T+4.
17 Can I use my GIRO for payment?
Yes. You may use GIRO for payment if you have either a POSB or DBS bank account. You must ensure your bank account has sufficient funds to pay for the shares on due date +2. Sign up for GIRO and receive your share proceeds a day earlier.
18 How does GIRO work?
GIRO is the easy and convenient way to pay for your share purchase and receive share proceeds. With GIRO, you will be able to receive sale proceeds a day earlier compared to the other existing mode of payments. To apply, simply fill in the GIRO application form and mail it back to 250 North Bridge Road, #06-00 Raffles City Tower, Singapore (179101).
19 How can I opt for this service?
You can choose to pay your bill through GIRO if you have a savings or current account with DBS or POSB. Fill in the GIRO application form to authorize the link between your trading account with Phillip Securities and your bank account.
20 Can I have both EPS and GIRO?
No. You can only opt for one service. If you are currently under the EPS and wish to switch to GIRO, you must first terminate your EPS linkage. After completing the GIRO form, please send it back to 250 North Bridge Road, #06-00 Raffles City Tower, Singapore (179101).
21 When will the GIRO service take effect?
It will approximately three to four weeks after submitting the GIRO application. Confirmation is upon Phillip Securities issuance of a confirmation letter to you.
22 When will the bank deduct the cost of my purchase from my account?
The bank will deduct the funds on the 2nd day after due date (D+2). However, please ensure that your bank account has sufficient funds by D+1. Insufficient funds on deduction date will result in your shares being forced-sold on D+2 afternoon.
23 When will I receive my sale proceeds?
The bank will credit the funds on the next day after due date (D+1).
24 Can I cancel my GIRO arrangment with Phillip Securities?
Yes. Fill in the GIRO termination form. Both parties, i.e. the account holder and Phillip Securities reserves the right to cancel the GIRO arrangement.
25 How does one become a registered investor to be able to trade securities quoted on OTC?
Every interested investor will be required to open a securities trading account (POEMS) with Phillip Securities Pte Ltd ("PSPL") and register with OTC.
Click here for more information.
26 What is the Corporate Advisor's annual retainer fee?
The estimated Corporate Advisor's annual retainer fee is S$20,000 - S$30,000. (Fees are not fixed by OTC, but by an agreement between OTC prospect and the Corporate Advisor)
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