Ann: H1 FY21 Results Presentation, page-92

Feckin hell. If it lists here in Singapore that will be amazing. IPO season is Q2 and Q4 so looks like they will aim for the second window. A US listing could be a head fake or also on the cards although having 3 parallel listings seems insane and expensive.

I would think a Singapore listing strategy suggests they will have some imminent and huge announcements to make on the SE Asia business. Listing here with just a side operation in Indonesia really isn't going to make sense.

One other aspect about an SGX listing requirement if I understand it right is that any SGX listing company has to be profitable. Clearly they see reaching profitability by year end as on the cards.

KM