Phillip Securities Pte Ltd announced amendments to the Terms and Conditions and the Form of Master that govern its Singapore Depository Receipts (SDRs) covering underlying shares listed in Thailand, Hong Kong and Indonesia.
The revisions, effective Sep, 14 2026, will give the depository wider discretion when underlying issuers undertake share splits or consolidations. The updated clause allows Phillip Securities to adjust either the number of SDRs or their underlying share ratio so that each SDR continues to represent a whole share. Any fractional entitlements created by rounding may be retained by the depository.
The Form of Master will also change. Instead of recording SDR movements on an attached schedule, the depository will now notify holders of any increase or decrease in their SDR balance “in such manner as requested by the SDR Holder.”
Phillip Securities said the amendments will neither cancel holders’ entitlement to the deposited property nor restrict their right to withdraw the underlying securities. The changes cover 35 existing SDR programmes, including receipts linked to Advanced Info Service, Alibaba, Baidu, Bank Central Asia, China Mobile, Siam Cement and others.
The updated documentation will take effect on Sep, 14 2026. The announcement was dated Aug, 12 2026.