Singapore Exchange (SGX)

SGX reports 9% m-o-m higher total securities turnover value for Oct as risk appetite returns

SINGAPORE (Nov 8): Singapore Exchange says total securities market turnover value rose to $21.6 billion in October, up 9% against September.

In a 12 noon filing, SGX says a rebound in Asian stock market activity had led to a return of investor risk appetite.

This came amid signs of progress in US-China trade talks and easing uncertainties over the direction Brexit was heading.

Securities daily average value rose 4% m-o-m to $980 million in October while market turnover value for exchange-traded funds (ETFs) surged 55% m-o-m to $236 million.

Dark trading could give local stock market a boost

SINGAPORE (Nov 11): Singapore has been trying hard to reinvigorate its stock market, following the 2013 penny stock saga. Various measures mooted include a dual-class share structure, private-market platforms to build the IPO pipeline and cross-border partnerships. Unfortunately, the trading volume of securities continues to be listless. A growing list of delistings did not help either.

A recent MAS staff paper by the Monetary Authority of Singapore on dark trading could be worth pondering in the light of efforts to rejuvenate the local stock market.

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Singapore sees world's first digital aviation carbon exchange

(Oct 31) Singapore-based AirCarbon launched the world’s first blockchain-based carbon trading exchange, which will allow airlines and other corporate buyers to buy and sell tokens backed by carbon offset credits approved by the International Civil Aviation Organization.

The company is applying to the Monetary Authority of Singapore for a recognized market operator license and targets for the exchange to be fully operational in 2020, it said in a statement Wednesday.

SGX posts higher 1Q earnings, revenue after organisational revamp

SINGAPORE (Oct 24): Following a realignment of its organisational structure and businesses in July, the Singapore Exchange reported a positive set of results ended 1Q19 ended Sept 30.

The bourse operator’s earnings leapt 25% y-o-y to $114.2 million from $91.1 million – the highest quarterly earnings in more than 10 years.

Its revenue jumped 19% to $247.6 million from $208.9 million in the same quarter last year, but remained flat compared to the preceding quarter.

SGX declared an interim dividend of 7.5 cents a share, payable on Nov 11.

SGX poised for first fund-raising since IPO in 2000 with $1.5 bil debt programme

SINGAPORE (Oct 17): Singapore Exchange has established its $1.5 billion multi-currency debt issuance programme, giving it additional funding for potential investments and for general working capitals.

If and when SGX draws from this programme, it will be the exchange’s first fund-raising since its IPO in 2000.

The exchange, which is debt-free, holds a cash balance of some $666.7 million as at June 30, down from $831.6 million as at June 30 2018.

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.

SGX, independent auditors raise questions over health of Capital World's finances

SINGAPORE (Oct 14): Capital World, the property developer formerly known as Terratech Group, says it believes it is able to continue as a going concern, despite a disclaimer opinion by the company’s independent auditors Messrs Ernst & Young LLP in the group’s FY19 financial statements.

Going concern is an accounting term for a company that has the resources needed to remain in business for the foreseeable future.

SGX eyes smaller deals as bourse mergers implode

(Oct 14): As global bourses come to terms with the failure of the latest mega-merger, Singapore Exchange is sticking to its incremental approach.

SGX, which tried to buy ASX in a deal rejected by the Australian government in 2011, still wants to strike deals, though another blockbuster expedition is unlikely. Instead, it’s eyeing potential acquisitions in financial technology as well as of firms that complement existing capabilities, according to its recently appointed equities head.

SGX securities market turnover up 2% to $19.7 bil in September

SINGAPORE (Oct 11): The month of September saw total securities market turnover inch up 2% to $19.7 billion, according to the Singapore Exchange (SGX) monthly release of market statistics. 

In cash equities, securities daily average value (SDAV) in the Singapore equities market was down 3% y-o-y at $940 million. This was due primarily to declines in most Southeast Asian markets, despite the benchmark Straits Times Index registering a 0.5% increase in total returns. 

Briefs

SINGAPORE (Oct 14): “We have certainly received a lot of questions regarding the freedom to move money.” Clifford Ng, managing partner at Zhong Lun Law Firm in Hong Kong, whose clients are keen to shift assets to Singapore.

Singapore ousts US for top spot in competitiveness ranking

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