Singapore Exchange Regulation (SGX RegCo)

Mirach Energy triggers SGX query after shares surge 39%

SINGAPORE (Oct 18): Mirach Energy has triggered a query by Singapore Exchange Regulation (SGX RegCo), after its share price surged 38.9% within the span of half an hour on Friday afternoon.

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SGX RegCo strengthens cooperation with professional valuers

SINGAPORE (Oct 15): Singapore Exchange Regulation (SGX RegCo) has entered into an MOU with Singapore Institute of Surveyors and Valuers (SISV) to enhance standards of valuations of real estate and land.

This issue of property and business valuation has become pertinent as more listed companies do deals that need to be accorded valuations, which, by its nature, involves certain elements of subjectivity by the valuers engaged.

Hotel Properties triggers SGX query as shares jump as much as 7.6%

SINGAPORE (Oct 8): Hotel Properties (HPL) has triggered a query from Singapore Exchange Regulation (SGX RegCo), after its share price surged as much as 7.6% on heavy trading Tuesday morning.

As at 11.48am, shares in HPL are trading 22 cents higher, or up 6.2%, at $3.77. The counter has climbed 10.9% since closing at a 52-week low of $3.40 on Sept 5.

The market regulator at 10.53am asked HPL to declare whether the company was aware of any information not previously announced that might explain the “unusual price movements” in its shares.

DLF says SPA offer price 'reasonable' in response to SGX RegCo query

SINGAPORE (Sept 27): In response to queries from Singapore Exchange Regulation (SGX RegCo), engineering firm DLF Holdings said founder Fan Chee Seng believes the offer price of 8.1 cents per share he received in a sale and purchase agreement (SPA) was “reasonable”.

Under the Sept 20 agreement, QRC, a consultancy solely owned by one Enomoto Hiroyuki, had acquired a 57.16% stake in the company for $5.6 million, or 8.1 cents per share. This comprised 45 million shares from DLF's former chief executive Wong Ming Kwong and 24.2 million shares from Fan.

Trek 2000 confirms CAD charges related to forensic auditor's reports

SINGAPORE (Sept 30): Technology firm Trek 2000 International has confirmed that all the charges against chairman emeritus Tan Henry @ Henn Tan and three other former officers by the Commercial Affairs Department (CAD) are related to some of the matters highlighted in 2017 and 2018 by forensic auditor RSM Corporate Advisory.

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Mirach Energy shares plunge further as SGX RegCo flags suspicious trading activities

SINGAPORE (Sept 30): Shares in Mainboard-listed Mirach Energy nosedived 23.9% to close at 14 cents on Sept 25, just a day after Singapore Exchange Regulation (SGX RegCo) urged investors to exercise caution when dealing in the counter. On Sept 26, the company’s share price plunged a further 2.3 cents, or 16.4%, to close at 11.7 cents.

In an announcement on Sept 24, the regulator noted that Mirach Energy’s share price had more than doubled from 13 cents on Feb 8 this year to close at 29 cents on Sept 3.

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Trek 2000 confirms CAD charges related to forensic auditors' reports; says legal action against former management in their 'personal capacity'

SINGAPORE (Sept 26): Technology firm Trek 2000 International has confirmed that all the charges against chairman emeritus Tan Henry @ Henn Tan and three other former officers by the Commercial Affairs Department (CAD) are related to some of the matters highlighted in 2017 and 2018 by forensic auditors RSM Corporate Advisory.

SGX RegCo queries Trek 2000 on CAD charges against founder Henn Tan, 3 other former officers

SINGAPORE (Sept 25): Singapore Exchange Regulation (SGX RegCo) has queried Trek 2000 International following media reports that chairman emeritus Henn Tan and three former Trek executives have been slapped with charges by the Commercial Affairs Department (CAD).

Tan, the inventor of the ThumbDrive, was the founder of Trek, and its former CEO and chairman. According to media reports, the 63-year-old is said to be facing a total of 15 charges.

SGX RegCo urges caution in trading of Mirach Energy shares

SINGAPORE (Sept 24): Singapore Exchange Regulation (SGX RegCo) has urged investors to exercise caution when dealing in the shares of Mirach Energy.

In an announcement on SGX at 5.19pm on Tuesday, the regulator noted that Mirach’s share price had more than doubled from 13 cents on Feb 8 to 29 cents on Sept 3.

SGX RegCo says a review of the trades in Mirach in this period showed that a small group of individuals was responsible for over 69% of the buy volume of Mirach shares.

These individuals appear to be connected to each other, it adds.

SGX RegCo to focus on increasing regulatory presence across marketplace next year

In the open letter from SGX RegCo, chairman Tan Cheng Han & CEO Tan Boon Gin say the regulator plans to focus on three areas next year. These include the establishment of a whistle-blowing office for listed companies, codification of expectations of property valuers, and the enhancement of new rules governing Issue Managers in matters dealing with an IPO they sponsor. Here is the letter in full


Sept 9

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