SINGAPORE (Feb 25): On Feb 18, Finance Minister Heng Swee Keat took two hours to deliver the 2019 Budget speech. After Heng lauded the entrepreneurial grit of Creative Technology’s founder and CEO, Sim Wong Hoo, its shares jumped 3.6% in just 10 minutes.
Sim, who enjoyed success in Creative’s early years, has struggled to consistently deliver hit products — until perhaps recently. “I am happy that Mr Sim and his team are at the cusp of a major breakthrough. And I wish them every success,” said Heng, referring to Creative’s Super X-Fi advanced audio technology that was recently commercialised.
Heng delivered his closely followed Budget speech during market hours, and Creative’s shares surged from $4.69 to $4.86 at 4.26pm, ending the day at $4.85, or 3.4% higher.
