Showing posts from December, 2013

Penny stock probe: don’t keep market guessing

In any discussion with retail trading representatives (TRs) about the current depressed state of penny stocks, the Singapore Exchange (SGX) is invariably singled out as being somehow responsible because of its sudden and unprecedented handling of the infamous trio of Asiasons, Blumont and LionGold on Oct 7 when it slapped a “designated” status on them and suspended trading in three stocks for two weeks.

Scrapping penny stocks not the solution

While equity markets around the world have been climbing steadily, led by Wall Street, amid signs of a recovery in economic conditions in key economies, the Singapore bourse has gone into something of a hibernation. Yes, the benchmark Straits Times Index has held steady but overall volumes have plunged, reflecting a major loss of trading interest over the past two months.

NY-based firms deny links to penny stock saga

Hedge fund Platinum Partners and financial adviser Jett Capital have rejected suggestions of links between the two firms and a share price dive in three penny counters in October.

Asiasons salvages deal with US oil firm

Black Elk agrees to sell smaller stake at reduced valuation to Singapore firm

Deadline passes for Blumont chairman-designate deal

A key deadline for a Blumont Group investor to buy 135 million shares of the company and become its chairman came and went on Friday without any official confirmation on whether the transaction had been completed.

China Rongsheng ghost town reflects shipbuilder's struggle to survive

Lawsuits cloud Blumont’s mining ambitions

Grand plans by Alex Molyneux, Blumont Group’s incoming chairman, to transform the struggling diversified business group into a full-fledged mining company may have hit more roadblocks.

Allow stop-loss, cash market for retail players

In a few months’ time, the local stock market should see the introduction of dynamic circuit breakers in daily trading, which are aimed at giving traders a five-minute cooling-off period to think about what they are doing when prices move by more than 10 per cent in either direction.

Coal miner seeks payment from Blumont

Resource Generation says A$22.6m payment for 15% stake not received on due date

Penny stock players named in lawsuits

Some of the parties in October’s penny stock collapse have popped up in a couple of soured deals making their way through Singapore courts involving Malaysian dealmaker John Soh Chee Wen.

LionGold partners new PE fund

LionGold Corp, together with a subsidiary of associated firm ISR Capital and Chinese firm Suzhou Power, is partnering a new private equity (PE) fund that invests in natural resources.