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Showing posts from April, 2014

Firms in trouble over high-speed trading

Exchanges, brokerages and traders are sued by city of Providence

CEO cites divorce in bid to free assets

Penny stock fallout exec wants to transfer 2 properties to ex-husband

High speeds, high stakes

In June, the Singapore Exchange (SGX) will enjoy a boost in liquidity as lowered fees and new discounts and rebates entice market makers and high-speed traders to set up shop here.

T+3 settlement period should remain: remisiers

They also ask MAS, SGX to require collateral only for big trades

Commodities seen picking up from next year

New equilibrium between demand and supply being established: Westpac

Australian bourse rife with rogue trading

Market manipulation appears to be rife on the Australian Stock Exchange (ASX) when compared with other major markets around the world, the Sydney Morning Herald (SMH) reported yesterday.

Goldman, Client Trade Lawsuits Over Singapore Stock Rout

Goldman Sachs Group Inc. (GS) and Lynne Ng Su Ling, an independent director at LionGold Corp., traded lawsuits in London over payment demands after shares owned by Ng and held by the bank as debt collateral plunged in an October stock rout.
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Family of Asia’s richest man sells US$928m Beijing property

A company controlled by the family of Asia’s richest man Li Ka-shing has sold a landmark Beijing property for more than US$900 million, it said, adding to speculation he is cashing out of Chinese property.

The princeling of private equity

AmFraser suing former client over trading debts

Brokerage seeks $1.89m repayment over losses from share meltdown

RBC Joins Goldman in Suing Clients After Singapore Crash

Royal Bank of Canada sued three private wealth clients in Singapore, joining companies including Goldman Sachs Group Inc. seeking money owed by customers after an October stock rout.
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Molyneux scraps plan to buy Blumont shares

No reason provided; canned deal is fresh blow for firm

Deadbeat Chinese shipyards stick banks with default bill

Chinese banks are stuck in a lose-lose legal battle between domestic shipyards and foreign buyers over billions of dollars in refund guarantees that are supposed to be paid out if shipbuilders fail to deliver on time.
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Police impound passports of top executives amid penny stock crash probe

The police have impounded the passports of at least three corporate executives as they continue to probe into last October’s penny stock crash.

Legal tangles add to woes of half the execs under investigation

Affected firms try to convince market business is as usual, but realities tell something else

Noble shares continue to ride on deal with Cofco

Counter jumps 10% in 2 sessions to pass $1.30, a level last seen in Oct 2012

Penny stock investigations widen

More than 10 top execs from seven firms, several subsidiaries being probed for possible breaches of Securities and Futures Act

CAD seeks data on 3 ITE Electric officers

White-Collar investigators have asked ITE Electric Co for information on three key officers as part of an investigation into possible breaches of the Securities and Futures Act (SFA), the electrical equipment supplier announced on Thursday.

Tighten SGX’s gatekeeper role in placements

CAD probes trades in penny stock rout

It has asked for access to all data and equipment belonging to senior execs

CAD probes LionGold, Blumont executives

Singapore’s white-collar crime fighters have sought information about key executives and directors of Blumont Group and LionGold Corp, amid investigations into suspected trading irregularities, the Commercial Affairs Department (CAD) and the companies announced on Wednesday.

Investors get fingers burned as yuan declines

Beijing scores victory over speculators by widening trading band as losses from betting on an appreciation of the currency hit US$5.5b

Troubled LionGold banking on Daim Zainuddin’s son

Wira Dani Abdul Daim is exec deputy chairman as well as exec director of firm

Singapore bourse performance raises questions

For a market wallowing in poor liquidity and lukewarm interest, some degree of speculative activity is necessary. It adds a dose of infectious vibrancy which can spread to the broader market and draw more equity market participation - a stated objective of SGX. While oversight is needed, neither should one take a hammer to swat flies.

Court orders Quah Su-ling to pay up $1.8m debt owed to bank

She owes Bank of East Asia the money from share margin facility