In conjunction with Infinite Journeys' second anniversary, Singapore Airlines as well as Shangri-La Hotels and Resorts are offering members double rewards between 04 October 2018 to 31 October 2018. The double rewards only affect point conversions between KrisFlyer Miles and Golden Circle (GC) Points (and vice versa) - all the other benefits (e.g. fast track to KrisFlyer Elite Gold) remain status quo at the time of writing.
While I have previously mentioned how bad an idea it is to convert KrisFlyer Miles into GC Points under this partnership, being offered double rewards now makes it a decent idea if you have KrisFlyer Miles expiring and you do not have any other use for it. If you currently hold elite status in the Golden Circle program (Jade and Diamond), your GC points are worth even more when you use it for dining. Remember, if you hold The Platinum Card from American Express, you will have instant Jade status in the Golden Circle program.
Under the current promotion, KrisFlyer members will be able to convert KrisFlyer Miles into GC Points at an exclusive 12:2 ratio for now. Since a minimum of 20,000 KrisFlyer miles are required for each conversion, they can be converted into at least 3,333 GC Points under this promotion. If you were to utilise these GC points for dining, they will be worth approximately USD 333.30 (SGD 460). The widely-accepted valuation of miles is at $0.02 so 20,000 KrisFlyer miles are worth roughly SGD 400 - exchanging this for SGD 460 worth of dining credit is not a terrible idea if they are going to waste anyway (e.g. expiring). If you hold elite status in the Golden Circle program, 3,333 GC Points are worth roughly USD 416,60 (SGD 575) if you use them for dining. Once again, it is not an awful idea depending on the situation that you are in.