Singapore HY Shares

[dundas666]

Hi all,

I've been looking at investing in a couple of Singaporean high yield shares, namely DBS Bank and Singtel, partly as I grew up there and know how stable the country is and might be a good way to diversify my portfolio away from the UK.

However when I try to search for Singtel in my ISA or trading account nothing comes up, though if I search for "Singapore" i get "Singapore Telecom 1 ADR". Does anyone know if it's possible to buy these shares in an ISA? I'm with Selftrade. Thanks.

Also are there any disadvantages to owning Singaporean shares? I understand there's no withholding tax in Singapore. Also I understand there's the currency fluctuation to consider.

Many thanks,
Pete

[snagga]

The Selftrade website says you can only trade overseas shares that can be settled/held through the UK Crest system. I don't know what Singapore shares this might include or how you would find out. Maybe ask Selftrade.

ADR = American Depositary Receipt. An ADR is a security that can be bought / sold in the US and represents an interest in a specified number of shares in a non-US company. The underlying shares are held by a US bank that issues the ADR. The depositary bank charges a fee for its service. The Singtel website says the depositary bank for its ADRs is Citibank and has contact details. If a non-US person holds an ADR, I don't know whether they would suffer US withholding tax. Citibank should know.

Shares can only be held in an ISA if listed on a recognised stock exchange as designated under UK tax law. The main board of the Singapore Exchange is so recognised per the HMRC website. The Singtel ADRs appear to be traded only OTC; however, I believe that they would be ISA eligible if the underlying Singtel shares are eligible.

You can trade Singapore shares through Interactive Investor and Degiro. Trades can only be done in designated lot sizes or multiples thereof - you can find the lot sizes on the SEX website.

[dspp]

I've been looking at investing in a couple of Singaporean high yield shares, Pete

Moderator Message:
Relocated here as non-UK outside HYP Practical Guidelines. dspp

[dundas666]

OK thanks, I'll ask Selftrade if they're able to sell Singaporean shares in my ISA.