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Showing posts from February, 2015

CEO exit seen perfect time for Singapore bourse to lose regulatory role

Singapore Exchange Ltd (SGX) may have just begun its search for a new CEO but investors and brokers already know what change they want to see: the bourse stripped of its regulatory powers and a rebuilding of its stock market business.

Reuters

SGX answers the shrill voice of remisiers

The Singapore stock market is continuously evolving, and all its stakeholders need to adapt to survive and thrive.

Noble says Iceberg author a former staff; group posts US$240m Q4 loss

Noble Group has fingered a former employee as the person behind Iceberg Research, as it reported on Thursday its first quarterly loss in three years due to a heavy impairment charge on an associate.

Swee Hong gets order against proceedings

New SGX CEO must accommodate all stakeholders

When a sample of brokers, investors and newsroom colleagues were asked for their opinions on what the next chief executive officer of the Singapore Exchange (SGX) should do, these were their varied responses - he or she should dismantle the existing self-regulatory commercial model, raise the quality bar for listing, bring back the lunch break, attract more big name IPOs, ban computerised, algorithmic as well as high-frequency trading, try not to over-regulate the market, introduce more interesting products that investors want to trade and ensure that investigations into possible wrongdoings are completed promptly so that investors aren’t kept in the dark for years on end.

Noble slump fails to draw short sellers after Iceberg report

Noble Group Ltd is getting a vote of confidence from an unlikely source: short sellers.

Magnus Bocker not renewing contract; exit set for end-June

The Swede is leaving amid widespread unhappiness over a moribund stock market; SGX mounts search for replacement CEO

Noble rebuts Iceberg’s claims

Commodity trader Noble Group on Tuesday defended its financial statements as its shares continued to reel for a second day following accusations of accounting malpractices by Iceberg Research, a little-known research firm. The two-day fall saw its market value plummeting S$1.05 billion.

Noble rejects accounting allegations

BBC

Ex-CEO of China Sky to pay civil penalty, give up 10% of his shares

Former chief executive of beleaguered China Sky Chemical Fibre, Huang Zhong Xuan, will pay a civil penalty of S$2.5 million and surrender 10 per cent of his shareholding in China Sky under a settlement agreement with the Monetary Authority of Singapore (MAS).

Two leading remisiers to face off in court

Protection order granted to one, pre-trial conference fixed for Feb 16

Stop the blame, work for mutual gain

Some BT readers and investors may be wondering how the dealing community’s view of the local stock market could be so diametrically opposed to that held by the Singapore Exchange (SGX).

Rowsley in proposed JV to build Myanmar project worth US$550m

Rowsley Ltd, a real estate and investment firm part-owned by billionaire Peter Lim, has entered into an agreement with Vietnam’s Hoang Anh Gia Lai Joint Stock Company (HAGL) to jointly develop a mixed-use development in Yangon, Myanmar.

Swee Hong proposes debt restructuring amid cash-flow woes

SGX and SIAS respond to remisiers’ grouses

SGX says some issues raised have been or are being addressed; SIAS says shift in investor profile could have added to woes

Remisiers write to Tharman to resolve issues plaguing market

Widespread unhappiness sees more than 1,000 stock traders, investors put pen to paper asking for separation of SGX roles, restoration of trust in market

Sino Construction unit in renewable energy venture

Sino Construction, which of late has been aggressively transforming itself into a resource play, on Tuesday announced that its wholly owned subsidiary, Magnum Energy, has entered into a joint-venture (JV) agreement with Primeforth Special Situation Fund, to establish and operate a company that generates and sells electricity from renewable energy sources, starting with palm biofuel.

Sino Construction unit in power generation joint venture

Mainboard-listed Sino Construction on Tuesday announced that its wholly-owned subsidiary Magnum Energy has partnered Primeforth Special Situation Fund to establish and operate Magnum Modular Power Generation, a joint-venture (JV) company in Singapore.