First Sponsor Group Secures Favorable Tax Ruling on Convertible Securities

First Sponsor Group Ltd ( (SG:ADN) ) just unveiled an update.

First Sponsor Group Limited has announced that it has received a tax ruling from the Inland Revenue Authority of Singapore regarding its Series 3 Perpetual Convertible Capital Securities. The ruling classifies these securities as ‘debt securities’ for Singapore income tax purposes, allowing distributions paid on them to be treated as interest and thus eligible for certain tax concessions and exemptions under the country’s Qualifying Debt Securities regulations. This ruling potentially enhances the appeal of these securities to investors by providing tax benefits, which could strengthen the company’s financial position and attractiveness in the market.

More about First Sponsor Group Ltd

YTD Price Performance: -0.91%

Average Trading Volume: 13,137

Technical Sentiment Consensus Rating: Sell

Current Market Cap: S$1.23B

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