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MAS calls on Hong Leong Finance, Singapura Finance, Sing Investments to cut dividends too

The Edge Singapore
The Edge Singapore8/7/2020 7:22 PM GMT+08  • 2 min read
MAS calls on Hong Leong Finance, Singapura Finance, Sing Investments to cut dividends too
The finance companies are also encouraged to offer scrip in lieu of cash.
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Just nine days after calling banks to curb their dividend, the Monetary Authority of Singapore is urging finance companies to similarly cap their dividends this year to 60% of what they paid last year.

The finance companies are also encouraged to offer scrip in lieu of cash.

On July 27, Sing Investments and Finance reported 1HFY20 earnings of $3.9 million, down 22.2% y-o-y. No interim dividend was declared. For FY2019, it paid six cents, down from seven cents paid in FY2018.

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