Singapore Exchange (SGX)

Singapore's stock market is shrinking, but does it matter?
(Feb 12): Robson Lee had a decision to make. In his more than two-decade career as a capital-markets lawyer in Singapore, he’d helped more than 30 companies list on the country’s stock exchange, bringing to market everything from a grocery store chain to a pawnbroker. Business had been good, but it was starting to dry up. Lee decided he had to get out. “I saw the decline,” he says. ...
What is the future of the Singapore stock market?
Amid the slow pace of IPOs, the lure of private-equity funding, and a string of corporate scandals, it might seem like the local stock market has seen better days. Our distinguished roundtable panellists do not entirely share that perspective, but they do see some big challenges ahead. SINGAPORE (Nov 26): The health and vibrancy of the local stock market has always been close to the hearts of ...
No Signboard breached two Catalist rules in 24% price jump
SINGAPORE (Feb 4): No Signboard Holdings has admitted to breaching two Catalist board listing rules on Jan 31 following a query from Singapore Exchange (SGX). The seafood restaurant chain operator last Thursday triggered a query from SGX for unusual price movements after its shares jumped 24.0% to 15 cents, with close to 1.4 million shares changing hands by midday on Jan 31. Shortly after, ...
SGX kept on ‘buy’ on derivatives growth
SINGAPORE (Jan 25): RHB Research is keeping its “buy” call on Singapore Exchange (SGX) with an unchanged target price of $8.20, on the back of strong growth in its derivatives business. SGX on Thursday reported 2Q earnings of $97 million, 9% higher compared to a year ago. Total revenue for 2Q rose 9% to $224 million from a year earlier, led by a 35% increase in derivatives revenue to ...
A US$41 billion flash crash in Singapore gives traders a fright
SINGAPORE (Jan 25): What was shaping up to be a ho-hum market open in Singapore suddenly became the most dramatic session in years, with a haphazard spree of sell orders causing a US$41 billion ($55.8 billion) crash in the city’s biggest stock. Jardine Matheson Holdings, the flagship investment firm of a 186-year-old conglomerate that hadn’t posted a double-digit stock decline since ...
SGX reports 9% rise in 2Q earnings to $97 million as derivatives business set record for second straight quarter
SINGAPORE (Jan 24): Singapore Exchange reported 2Q earnings of $97 million, or 9 cents per share, 9% higher compared to a year ago. The board has declared an interim dividend of 7.5 cents per share, up from 5 cents last year. Total revenue for 2Q also rose 9% to $224 million from a year earlier. Revenue from derivatives increased 35% to $112.9 million and accounted for half of total ...
Ascott Raffles Place divestment in line with market & legal practices, maintains REIT manager
SINGAPORE (Jan 22): The manager of Ascott Residence Trust (Ascott REIT) has filed a clarification letter to the Singapore Exchange (SGX) in response to a letter published in the forum of The Straits Times on Monday, which questioned the gap between the valuation and buyout amount of Ascott Raffles Place. To recap, Ascott Raffles Place is being sold to a private investor at a consideration of ...
Why Mak Yuen Teen's latest study is causing such a stir among market watchers
SINGAPORE (Jan 18): On Tuesday, corporate governance advocate Mak Yuen Teen, an associate professor of accounting at the NUS Business School, released a study arguing that the reputation of the Catalist board has been hurt by recent transfers of underperforming companies from the Mainboard. In his report, Mak urges the Singapore Exchange to consider disallowing companies from transferring from ...
YuuZoo shareholders set up group to get SGX to lift trading suspension
SINGAPORE (Jan 17): Shareholders of investment holding company YuuZoo have formed an association to urge Singapore Exchange (SGX) to immediately lift its trading suspension. The association, named YuuZoo Shareholders Association (YSHA) and headquartered in Washington DC, US is also urging other shareholders to join the association to defend their rights. “YSHA’s immediate focus is to ...
Corporate governance advocate urges SGX to relook rules allowing companies to transfer to Catalist
SINGAPORE (Jan 15): Corporate governance advocate Mak Yuen Teen and undergraduate Mark Lai have published a study urging the Singapore Exchange (SGX) to consider disallowing companies from transferring from the Mainboard to Catalist. SGX in Jan 2016 had clarified and tightened the criteria for transfers from the Mainboard to Catalist, especially for loss-making companies. But Mak and Lai say ...