Sorry to have to reply to this again, but have re-read this.
If the opportunity arises, I have no doubt SQ will take control of VA .
They've had many opportunities over the years, they chose not to do so.
SQ's best opportunity was during the NZ sell-off, but NZ sold to Nanshan Group.
Then there was the "new share issuing" which led to HNA group coming in.
Per the previous reply to this post, there has been many "SQ to takeover VA" news articles over the years, which in all cases have been "fake news". Per SQ's previous track record in the past 5 years, I wouldn't take any further SQ interest in VA seriously.
There are so many strategic reasons for SQ to be the #2 airline operator in Australia.
Not to mention all the A359's they have on hand - replacing the VA 77W's at significant cost benefit.
As pointed out by others, the reason why SQ still has their VA stake is to access their FF base to fill their own planes, rather than be hands-on in the Australian market.
Should SQ still wish to be a #2 airline in Australia, it'll be more likely through a VA "asset sale", should "worse come to worse", as opposed to picking up VA in it's current form.
Picking up the owned VA 738s and some SYD/MEL slots would allow SQ to have their "3rd attempt" (after the NZ/AN debacle and Tiger Australia attempts) at the Australian Market through a bare-bones domestic operation.
Also, SQ aren't going to give/lease their 359s to VA for nothing. The 359s are for the SQ operation, not for any of their subsidiaries or their investments.