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Showing posts from October, 2013

SGX seeks high-frequency traders

Singapore Exchange, Southeast Asia’s biggest bourse operator, wants to lure more high-speed traders onto its stock market as it grapples with lower volume.

Why SGX suspends, designates and investigates

The Singapore Exchange (SGX) has been asked about the differences in regulatory actions taken in the case of Sky One Holdings and in the case of Asiasons Capital, Blumont Group and LionGold Corp.

‘No threat’ to fair trading in Sky One, says SGX

Singapore Exchange (SGX) has found “no threat to fair, orderly and transparent trading” in the sharp drop of Sky One Holdings stock earlier this week.

Why SGX suspends, designates and investigates

SGX has been asked about the differences in regulatory actions taken in the case of Sky One Holdings Limited and in the case of Asiasons Capital Limited, Blumont Group Ltd and LionGold Corp Ltd. Our explanation is given below. We would also refer readers to our regulatory announcement of 25 October 2013 on “SGX corrects misconceptions.”

Brokers raise shields with Sky One falling

Sky One Holdings’ collapse on Monday prompted a number of brokers to update their lists of restricted stocks this week, raising questions about why the Singapore Exchange (SGX) did not impose trading curbs as it had done with three other stocks a few weeks earlier.

No issue with SGX on penny stocks action: Sias

Investor lobby group says it is satisfied with the explanation on steps taken

Take a holistic relook at HFT

Communication is key in penny regulation

Investors spooked by penny stock saga

Growing number of trading curbs seen as harbinger of more volatility ahead

Penny stock drama likely to hold traders’ attention

Many investors unhappy with how fiasco is being handled

Singapore’s penny stock mystery increases pressure on exchange

Singapore Exchange Ltd ‘s role as the city-state’s equity market regulator is coming under increasing scrutiny in the fall-out from a penny stock crash earlier this month.

Singapore’s penny stock mystery increases pressure on exchange

Singapore Exchange Ltd ‘s role as the city-state’s equity market regulator is coming under increasing scrutiny in the fall-out from a penny stock crash earlier this month.

Penny stocks drop on news of investigation

MAS and SGX to conduct review of activities leading to meteoric rise of Asiasons, Blumont and LionGold

MAS, SGX reviewing penny stock saga

Extensive and thorough review may lead to public consultation on broader issues raised

Singapore retail investors call for probe into penny stock crash

An association representing Singapore’s retail investors has called for a probe into a recent plunge in the share prices of three companies, putting more pressure on the Singapore Exchange Ltd (SGX) to explain the volatility.

Brokerages snowed under by cash influx

For two weeks, they had to verify money source for purchase of ‘designated’ stocks

Stock broking houses brace for hit from collapse of Blumont, Asiasons and LionGold

More than a week after the Oct 4 crash involving Blumont Group, Asiasons Capital and LionGold Corp, remisiers and securities houses are still counting their losses. Broking firms contacted by The Edge Singapore say their contra losses on the three counters are manageable, but the situation on the ground for other houses, as their traders tell it, is a lot messier.

Lim, Azlan claim no link to Soh

Datuk Jared Lim and Datuk Mohamed Azlan Hashim have denied any links to tycoon Datuk Soh Chee Wen, whose name has become a topic of conversation at coffee tables and trading rooms of late.

Board to focus on repairing damaged reputation

Asiasons is picking up the pieces after a spectacular collapse in its share price. The controlling owners of the company – Datuk Azlan Hashim, Datuk Jared Lim and Ng Teck Wah – have been fighting fire since the freefall of the company’s shares. Comforting investors, stakeholders and employees that nothing has changed within the operations of the company is the No. 1 priority as the company and its owners go about rebuilding their reputation. Below is an extract of an interview with StarBizWeek.

We’re not a bunch of cowboys

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Embattled Asiasons’ heads to close chapter on stock gyrations and move on

Contra trading is not the cause

In the past week, there has been significant press coverage on the now infamous trio of designated stocks - Asiasons Capital, Blumont Group and LionGold Corp.

Curbs lifted off Asiasons, Blumont, LionGold

SGX removes ‘designated stocks’ label as trading has stabilised; Blumont execs disclose forced selling of their shares

US-based bank triggered sell-down

The sell-down of three stocks two weeks ago on the Singapore Exchange (SGX) was mainly triggered by a leading US-based investment bank followed by a Singapore broker, said industry executives.
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Asiasons to relook Black Elk deal after SGX rejects new share issue

Asiasons Capital Limited said on Thursday that it would relook the terms and conditions of its planned purchase of 27.5 per cent of US Black Elk Energy Offshore Operations LLC.

The Big Crash

Blumont, Asiasons Capital and Lion Gold have lost billions  of dollars in market value this past week. Yet, they are still  pressing ahead with ambitious growth plans, with Blumont even claiming it is on its way to becoming Asia's BHP Billiton. Should investors give them a second chance?

Shares of Blumont execs hit by forced selling

Shares of key executives of Blumont Group have come under forced selling as Singapore Exchange (SGX) maintains trading restrictions on the company’s stock and those of two others for a fifth day today.

Malaysian play in Singapore gone awry

Linked stocks form a troubled past

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Cross-holdings, management relationships and Asiasons, Blumont and LionGold becoming ‘designated’ stocks

LionGold placement called off on stock price volatility

LionGold Corp said the trading restrictions imposed on its shares put it at a “significant disadvantage” as they hinder its efforts to acquire undervalued assets.

Blumont chairman sold stock days before plunge

Move due to ‘bank forced selling’, but investors question late disclosure

Circuit breakers cannot replace stringent policing

The rise and fall of Blumont Group, Asiasons Capital and other penny stocks have dominated the Singapore stock market, culminating in the Singapore Exchange (SGX) imposing restrictions on the trading of some of the stocks.

Circuit breakers cannot replace stringent policing

The rise and fall of Blumont Group, Asiasons Capital and other penny stocks have dominated the Singapore stock market, culminating in the Singapore Exchange (SGX) imposing restrictions on the trading of some of the stocks.

Confusion continues over trading curbs on ‘designated’ stocks

Confusion reigned for a second day yesterday over three stocks “designated” by the Singapore Exchange: Blumont Group, Asiasons Capital and LionGold Corp.

Blumont denies knowledge of stock price manipulation

Blumont Group said on Tuesday that it was not aware of any manipulation of its share price, calling it the job of the Singapore Exchange (SGX) to find out and not that of the management.

Fund managers hit by penny-stock crash

Retail investors are not the only victims feeling the pain after the share price plunges of LionGold Corp, Blumont Group and Asiasons Capital when they resumed trading yesterday.

Savage selling wipes $8.6b off 3 counters

SGX curbs on short-selling, contra trading also dent other small counters

Has SGX acted too late?

Last Friday, the Singapore Exchange (SGX) took the drastic step of cleaning up what had been left smelling in its backyard over the years.

Blumont, Asiasons, LionGold shares tumble as SGX lifts suspensions

Three Singapore-listed companies resumed their steep decline on Monday as trading halts were lifted - suspensions which have raised more questions than answers about the stocks as well as how the country’s exchange regulates sudden price moves.

Level the playing field on trading curbs

Advance notice on restrictions will add to transparency

Counters’ plunge raises questions

Not hard to grasp SGX’s concern over firms’ sharp share price falls

SGX suspends trading in three stocks

The share market was rocked yesterday when the Singapore Exchange (SGX) suspended trading in three stocks that have all recorded huge price swings recently.

Blumont scraps $146m bid for Cokal as shares dive

Blumont shares plummet 59% in the morning before SGX suspends trade

Dollar stocks built on penny towers in ruins

SGX suspends 3 of 6 firms it queries after their counters plummet overnight

Blumont beats retreat after relentless surge

Share trading halted today pending announcement by company

Blumont ‘could have attracted international interest’

In its second reply to a Singapore Exchange (SGX) query on the sharp rise of its share price since the beginning of the year, Blumont Group said its recent flurry of activities could have attracted international interest in its stock.

Blumont’s staggering stock performance raises many questions

Investors of Blumont Group, whose stock is arguably one of the best performing this year, would be laughing all the way to the bank had they held on to the shares they bought early this year.