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$SIA (C6L.SG)$ :$9.40 for SIA next year end. Just my analysi...

$SIA(C6L.SG)$ :$9.40 for SIA next year end. Just my analysis, correct me if I am wrong. Below is my reasoning and analysis.
We had received a total of $0.38 of dividends this year. Based on $6.38 today's closing price, that work out to be 5.95% return for your capital. Compare to fixed deposit and bond interest of around 4%, which is not bad ! It's a job well done.
On the other hand, if SIA redeem 50% of its 2021 MCB, that means SIA have the means to recuperate itself from huge debt without any difficulties and become cash rich again. Liability is reduced by another 50% of MCB.
By then, hopefully, SIA can declare a full year dividends of at least $0.56. If that is the case, and if maintaining at 5.95% return, then SIA would be doing around $9.40 per share.
Unless income and dividends drop. Or Federal Reserved hike interest rate to 8%, or India Airline in trouble, else end of next year SIA will be doing $9.40.
Is my calculation correct ? This is just my opinion. Correct me if I am wrong.
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