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MarketScreener Homepage  >  Equities  >  SINGAPORE EXCHANGE  >  Singapore Airlines Limited    SIAL   SG1V61937297

SINGAPORE AIRLINES LIMITED

(SIAL)
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Singapore Airlines : Calls Offer for Tiger 'Compelling'

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12/20/2015 | 08:32pm EST
    By Gaurav Raghuvanshi 
 

SINGAPORE--Singapore Airlines Ltd. (C6L.SG) said Monday its offer to buy all the shares of unit Tiger Airways Holdings Ltd. (J7X.SG) is "compelling," and asked shareholders to consider its rationale when deciding whether to accept the offer.

Singapore Airlines, which owns 56% of its unprofitable discount carrier unit, last month offered to buy the shares of Tiger that it doesn't own at 41 Singapore cents (29 U.S. cents) apiece, a 32% premium to Tiger's last traded price before the offer was made.

The Singapore flag carrier's comment was in response to an open letter last week from the Securities Investors Association (Singapore), a local body for the protection of retail shareholders' rights. SIAS said in the letter that Singapore Airlines should consider offering "better" terms to Tiger's minority shareholders and give them more time to decide on the offer.

Singapore Airlines said an independent financial advisor appointed by Tiger Airways to evaluate the offer has said the financial terms are "on balance, fair and reasonable."

Singapore Airlines also said Tiger's independent directors and the majority of analysts who cover the airline have recommended that shareholders accept the offer.

Write to Gaurav Raghuvanshi at Gaurav.raghuvanshi@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
SINGAPORE AIRLINES LIMITED 0.89% 9.1 End-of-day quote.-3.50%
TIGER AIRWAYS HOLDINGS LIMITED -2.13% 0.46 End-of-day quote.0.00%
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Financials (SGD)
Sales 2020 17 001 M
EBIT 2020 1 073 M
Net income 2020 697 M
Debt 2020 7 412 M
Yield 2020 3,53%
P/E ratio 2020 15,8x
P/E ratio 2021 13,8x
EV / Sales2020 1,07x
EV / Sales2021 1,21x
Capitalization 10 785 M
Technical analysis trends SINGAPORE AIRLINES LIMITED
Short TermMid-TermLong Term
TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 14
Average target price 10,41  SGD
Last Close Price 9,10  SGD
Spread / Highest target 29,7%
Spread / Average Target 14,4%
Spread / Lowest Target -1,43%
EPS Revisions
Managers
NameTitle
Choon Phong Goh CEO & Non-Independent Executive Director
Lim Huat Seah Independent Non-Executive Chairman
Chin Hwee Ng EVP-Human Resources & Operations
Stephen Barnes Senior Vice President-Finance
Wei Jun Wang Senior Vice President-Information Technology
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