Buy USD denominated stock

[pai000000]

Hi,
Some newbie questions, please bear with me.

I am think of buying Diary Farm 900USD. This stock is denominated in USD, but as I understand I can settle the trade in SGD or USD.
Since I do not hold any USD, I am thinking of settling in SGD. Is the exchange rate OK if I do this?

By the way, what does 900USD mean?

Sorry if these questions have already been asked. I tried searching but couldn't find anything.

 

[SpeedingBullet]

Hi,
Some newbie questions, please bear with me.

I am think of buying Diary Farm 900USD. This stock is denominated in USD, but as I understand I can settle the trade in SGD or USD.
Since I do not hold any USD, I am thinking of settling in SGD. Is the exchange rate OK if I do this?

By the way, what does 900USD mean?

Sorry if these questions have already been asked. I tried searching but couldn't find anything.

What do u mean exchange rate OK if i do this?

If u settle in SGD, they'll use ur SGD, convert it to USD and buy the stock itself. Then when u sell, and u decide to settle in SGD, they'll convert from USD to SGD. The conversion itself will be set on the bid/ask price of both currencies at the time when you execute ur trade.

900USD means one lot = 900 shares.

 

[C32B]

Hi,
Some newbie questions, please bear with me.

I am think of buying Diary Farm 900USD. This stock is denominated in USD, but as I understand I can settle the trade in SGD or USD.
Since I do not hold any USD, I am thinking of settling in SGD. Is the exchange rate OK if I do this?

By the way, what does 900USD mean?

Sorry if these questions have already been asked. I tried searching but couldn't find anything.

Is this counter under SGX de ?

 

[pai000000]

What do u mean exchange rate OK if i do this?

If u settle in SGD, they'll use ur SGD, convert it to USD and buy the stock itself. Then when u sell, and u decide to settle in SGD, they'll convert from USD to SGD. The conversion itself will be set on the bid/ask price of both currencies at the time when you execute ur trade.
900USD means one lot = 900 shares.

Thanks for the reply.
What I meant is, if I settle in SGD, is the exchange rate that SGX use favorable, as compared to the exchange rate used by money changer or bank etc? Like, do they impose any surchange for helping you do the auto-conversion?
If there is not much difference, I would just settle in SGD since that is more hassle free.

Is this counter under SGX de ?

Yes, symbol D01.SI.

 

[C32B]

900USD means one lot = 900 shares.

How come is odd lot ?

 

[IronMac]

For that small amount of money I don't think it's worth the hassle to run around the moneychangers.

 

[SpeedingBullet]

Thanks for the reply.
What I meant is, if I settle in SGD, is the exchange rate that SGX use favorable, as compared to the exchange rate used by money changer or bank etc? Like, do they impose any surchange for helping you do the auto-conversion?
If there is not much difference, I would just settle in SGD since that is more hassle free.



Yes, symbol D01.SI.

You're not using the exchange rate in SGX, you're using the one your broker sets. You go see the spread for USD/SGD your broker offers vs a money changer lor . Common sense tells you which is better.

No surcharge.

How come is odd lot ?

It isn't odd lot. Why is it odd lot? I already said one lot = 900.

 

[pai000000]

Thanks!
Will check it out.

 

[pai000000]

Hi

I have another question.
If I buy a USD denominated stock like dairy farm, the dividend I get will also be in USD by default. Do I need to open a USD bank account, or will it be automatically open when I get my first dividend payout?

Thanks!

 

[alexchia01]

Hi

I have another question.
If I buy a USD denominated stock like dairy farm, the dividend I get will also be in USD by default. Do I need to open a USD bank account, or will it be automatically open when I get my first dividend payout?

Thanks!

This kind of question should ask your broker.

That's what you pay him commission for.

If you ask us, we are not your broker or using the same brokage firm as you, can't give you the accurate answer.

 

[SpeedingBullet]

Hi

I have another question.
If I buy a USD denominated stock like dairy farm, the dividend I get will also be in USD by default. Do I need to open a USD bank account, or will it be automatically open when I get my first dividend payout?

Thanks!

K so say u stay for the dfih payout (which isn't much), they will send you a form asking if u wish to receive ur dividend in sgd or usd.

If you opt sgd, they'll just credit it into your account but you're at the mercy of grand canyon-wide fx conversion spreads.

If you opt usd(like i did), they simply send you a USD cheque.

I opened a DBS Multi-Currency Account (MCA) just for this lol

 

[pai000000]

Thanks!
Looks like it is better to take the default USD dividend.
If I open a DBS Multi-Currency Account, will CDP deposit it directly into it, or must I cash the cheque manually?

K so say u stay for the dfih payout (which isn't much), they will send you a form asking if u wish to receive ur dividend in sgd or usd.

If you opt sgd, they'll just credit it into your account but you're at the mercy of grand canyon-wide fx conversion spreads.

If you opt usd(like i did), they simply send you a USD cheque.

I opened a DBS Multi-Currency Account (MCA) just for this lol

 

[SpeedingBullet]

Thanks!
Looks like it is better to take the default USD dividend.
If I open a DBS Multi-Currency Account, will CDP deposit it directly into it, or must I cash the cheque manually?

cash it in manually.

Remember, at the back of the cheque u MUST indicate ur bank a/c number AND the currency, if not they'll auto-convert to SGD for you.

Example: XXX-XXXXX-X (USD)

I once talked to their CSO and they said foreign cheques take up to 21 working days to clear, it took about 3 working days for me.

 

[pai000000]

Thanks SpeedingBullet!