Converting ANZ Black Reward points to Singapore Airlines KrisFlyer points (KF).

Converting ANZ Black Reward points to Singapore Airlines KrisFlyer points (KF). The conversion rate is 3:1, i.e., 3 ANZ points are equal to 1 SQ KF point. The conversion rate for Velocity point is 2:1, while the rate for converting Velocity points to KF points is 1.35:1. Based on my calculation, to maximise the amount of KF points, it is best to convert the ANZ points to Velocity, then to KF. Can anyone please confirm whether or not I'm correct in my assumption?

Assuming what you are saying is true (as I'm not in tune with ANZ rewards), then I would also suggest your calculation is correct.

3 ANZ points = 1 Krisflyer points

OR

2.7 ANZ points = 1.35 Velocity points = 1 Krisflyer point