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Bad News for Some Capital Plus Applicants
The recent tranche of Capital Plus by NTUC was so popular that $80 million of subscriptions came in on the last day itself. Regretfully, the management of NTUC Income had to return the cheques to some of these applications which came in at the last minute as the limit of $80 million for the tranche had already been reached.
The good news is that NTUC has decided to prepare another tranche of Capital Plus which has a tentative launch date of end August 2009. All earlier unsuccessful applicants will be given priority to this upcoming tranche of Capital Plus.
The yield for the new series is likely to be less or at best similar to the tranche which has just closed. ie 1.8% p.a.