HWZ Forums

Login Register FAQ Mark Forums Read

Standard Chartered - Only Online Trading in town with no minimum commission

Like Tree964Likes
Closed Thread
 
LinkBack Thread Tools
Old 09-02-2015, 07:57 PM   #3436
Great Supremacy Member
 
Perisher's Avatar
 
Join Date: Jan 2015
Posts: 51,813
Dunno why this thread isn't a sticky yet.

Anyway,
Dear all, just to inform any MCD shareholder, I received a letter from SCB with regards to a tender offer from TRC Capital Corp offering to purchase my shares at $86.80USD per share, I dunno if it's a joke but it's horribly under market price, and why would anyone accept this offer? MCD afaik has not hit $86 since 2012...



This letter looks just like any other Dividends option letter so be careful when you receive letter that looks like the regular dividend options, taking cash may not be just that and SCB people won't know what is going on sometimes. Don't assume all dividends letter are just that, some are shares purchase letter from other corp trying to get your shares for cash below market price.

Last edited by Perisher; 09-02-2015 at 08:06 PM..
Perisher is offline  
Old 09-02-2015, 08:21 PM   #3437
Banned
 
Join Date: Aug 2008
Posts: 5,052
this its a mini tender offer, ya if price no good can just reject

but often more practical to take note and keep track
if suddenly market price become lower, can quickly take the offer before expiry

btw such corporate action, they no call you up to inform u all de meh?
or SCB too many customers nia, so they only issue letter... like that if big offer miss tiao, then super GG sia


http://en.wikipedia.org/wiki/Mini-tender_offer

The practice is frequently associated with a company called TRC Capital, a private firm founded by a Canadian securities lawyer.[5]

MacKenzie Capital Management, LP, based in Moraga, California, also conducts hundreds of mini-tender offers and SEC registered tender offers each year, but for illiquid limited partnerships, real estate investment trusts, and other securities, ones not traded on a national exchange.

The boards of target companies such as Adobe Systems, MetLife, AMD, Ford, and Kimberly-Clark have attempted to counter mini-tenders by issuing recommendations to reject such offers.[6][7][8][5] Brian Lawler of The Motley Fool recommends that investors avoid mini-tender offers.[4]
wahkao3 and Perisher like this.

Last edited by felixleong; 09-02-2015 at 08:25 PM..
felixleong is offline  
Old 09-02-2015, 08:29 PM   #3438
Great Supremacy Member
 
Perisher's Avatar
 
Join Date: Jan 2015
Posts: 51,813
My MCD was bought at about $80+, with all the dividends collected and in-between I sold some at higher price, now average price is about $70+, got margin of safety. The dividends champion, moat, blue chip status plus recent change of CEO all are positive signs. This counter won't have sudden big move down unless really jialat jialat stuff happens. This offer is really trying to catch people off guard.

SCB is really focus on being a cheap brokerage, doesn't provide this calling service. They do call back to confirm your instruction after you call them to give instructions which to me is not bad already.
Anyway, if you buy any counter, don't expect the brokerage to know the counter's actions, earnings, scandal etc. better than you do. This is afterall your $$.
Perisher is offline  
Old 09-02-2015, 10:28 PM   #3439
Arch-Supremacy Member
 
Join Date: Jan 2000
Posts: 17,816
Dunno why this thread isn't a sticky yet.

Anyway,
Dear all, just to inform any MCD shareholder, I received a letter from SCB with regards to a tender offer from TRC Capital Corp offering to purchase my shares at $86.80USD per share, I dunno if it's a joke but it's horribly under market price, and why would anyone accept this offer? MCD afaik has not hit $86 since 2012...



This letter looks just like any other Dividends option letter so be careful when you receive letter that looks like the regular dividend options, taking cash may not be just that and SCB people won't know what is going on sometimes. Don't assume all dividends letter are just that, some are shares purchase letter from other corp trying to get your shares for cash below market price.
this is a take-over bid or they just trying to buy from existing shareholders?
stam is offline  
Old 09-02-2015, 10:36 PM   #3440
Great Supremacy Member
 
Perisher's Avatar
 
Join Date: Jan 2015
Posts: 51,813
TRC Capital Corp is offering to purchase for cash up to 1.5mil shares of common stock of MCD corp at usd $86.80 net/share etc...

According to google finance, MCD has 973.20M shares, that 1.5mil is nowhere near takeover.

Besides, why would someone offer a price lower than market offer if it's a takeover? I rather sell to the market lor.
Perisher is offline  
Old 09-02-2015, 11:00 PM   #3441
Member
 
Join Date: Jan 2010
Posts: 277
buy US stock can only done through phone? i got an error when purchase a stock on nasdaq from online

call scb, they say all the operators are busy.... wah lao.
StaRChO is offline  
Old 09-02-2015, 11:28 PM   #3442
Senior Member
 
Gentleblade's Avatar
 
Join Date: Jun 2013
Posts: 1,498
buy US stock can only done through phone? i got an error when purchase a stock on nasdaq from online

call scb, they say all the operators are busy.... wah lao.
me too. 1st time try but. got this

Exchange is not available for trading. Please contact Phone Banking. (Msg Code: 1067)
Gentleblade is offline  
Old 09-02-2015, 11:29 PM   #3443
Great Supremacy Member
 
Perisher's Avatar
 
Join Date: Jan 2015
Posts: 51,813
buy US stock can only done through phone? i got an error when purchase a stock on nasdaq from online

call scb, they say all the operators are busy.... wah lao.
Nope, can done online, I have 30+++ US counters there 99% done by online trading. In fact, I just purchased APL 30mins ago. I don't really recall their calling thing ever work when their system is down.
Perisher is offline  
Old 09-02-2015, 11:41 PM   #3444
Member
 
Join Date: Jan 2010
Posts: 277
hmmm strange.. izzit because i entered total amount to close to whatever i have? I go try again..
StaRChO is offline  
Old 10-02-2015, 12:00 AM   #3445
Senior Member
 
Gentleblade's Avatar
 
Join Date: Jun 2013
Posts: 1,498
Nope, can done online, I have 30+++ US counters there 99% done by online trading. In fact, I just purchased APL 30mins ago. I don't really recall their calling thing ever work when their system is down.
hi peri,

side track abit. so i have to have fund trasnfer from my scb esaver account. to my SECURITIES TRADING ACCOUNT first? then after order is fufill. it will deduct off?

or transfer the $SGD to FCY SECURITIES SETTLEMENT ACCOUNT USD first?
Gentleblade is offline  
Old 10-02-2015, 12:26 AM   #3446
Great Supremacy Member
 
Perisher's Avatar
 
Join Date: Jan 2015
Posts: 51,813
hi peri,

side track abit. so i have to have fund trasnfer from my scb esaver account. to my SECURITIES TRADING ACCOUNT first? then after order is fufill. it will deduct off?

or transfer the $SGD to FCY SECURITIES SETTLEMENT ACCOUNT USD first?
There is the local one at the top which doesn't have the 'FCY', that is for you to put your $$ for buying local stocks.
The FCY one is for your other market, you have to convert before 8.30pm(I can't remember exact timing) on a weekday only, then put into the respective currency you want to trade.

All trading will deduct from your respective SECURITIES SETTLEMENT ACCOUNT.
Perisher is offline  
Old 10-02-2015, 12:31 AM   #3447
Master Member
 
EvilPaladin's Avatar
 
Join Date: Jul 2008
Posts: 4,245
There is the local one at the top which doesn't have the 'FCY', that is for you to put your $$ for buying local stocks.
The FCY one is for your other market, you have to convert before 8.30pm(I can't remember exact timing) on a weekday only, then put into the respective currency you want to trade.

All trading will deduct from your respective SECURITIES SETTLEMENT ACCOUNT.
What is the settlement date? T+3? T+5?
__________________
Rage is useful when used appropriately.
EvilPaladin is offline  
Old 10-02-2015, 12:47 AM   #3448
Junior Member
 
Join Date: May 2012
Posts: 87
Charges for Trading US market

Hi guys, wanna check with you

1. what is the currency exchange fee for trading in US market using SC platform?

2. are there any US stock holding costs?

3. how about the monthly service fees?

4. are the dividends from US stocks subject to 30% tax?

Thanks!
Soccer123321123 is offline  
Old 10-02-2015, 12:52 AM   #3449
Great Supremacy Member
 
Perisher's Avatar
 
Join Date: Jan 2015
Posts: 51,813
What is the settlement date? T+3? T+5?
As this is a cash upfront type of account, the cash is already deducted immediately when the trade is done, there is a refresh purchase power thing to the right in your online trading site you can use to see roughly how much purchase power you have.

Do not be fool by the cash you see in your home page, that one will be updated a few days later.

Hi guys, wanna check with you

1. what is the currency exchange fee for trading in US market using SC platform?

2. are there any US stock holding costs?

3. how about the monthly service fees?

4. are the dividends from US stocks subject to 30% tax?

Thanks!
Did you even try to search, this 4 q has been answered many times.
1. Currency exchange rate is +/-0.015 roughly. Horrendous, I know.
2. $0
3. $0
4. Yes
Perisher is offline  
Old 10-02-2015, 01:14 AM   #3450
Great Supremacy Member
 
Perisher's Avatar
 
Join Date: Jan 2015
Posts: 51,813
I ask a question too, see who can answer.

Can one open a company for the sole purpose of purchasing shares through SCB online trading account, enjoying the cheap cheap commission and not worry about the estate tax?
What are the cost involve in doing that?

Because if the cost is a token sum a year, this would be a perfect solution for so many people who are scare of the estate tax.

And if this is possible, wouldn't people just start a company to become a sort of hedge fund and gather $$ from friends and families?

Last edited by Perisher; 10-02-2015 at 01:16 AM..
Perisher is offline  
Closed Thread
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Terms of Service for more information.


Thread Tools

Posting Rules

Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are On