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Showing posts from May, 2016

Lots of trouble brewing at Technics Oil & Gas

At a low of seven Singapore cents, to which it had dived on Friday after falling 18 per cent and drawn the second trading activity query from the Singapore Exchange in three months, one would need binoculars to see its high of 74.5 cents reached last November.

Foreland: SGX studies special auditor's report

A special auditor's report into a deal that went bad for Foreland Fabrictech has suggested the company may not have conducted proper due diligence before paying out compensation.

Jason Holdings suspends two key executives

Flooring specialist Jason Holdings has suspended its chief executive Jason Sim and operations director New Sze Wei over allegations of improper transactions.

Defaulting Chinese firms resort to tricks

Missing corporate stamps, shuffled assets and disappearing executives have become the hallmarks of debt distress in China. Investors are starting to lose patience.

Periodic regulatory updates needed for TWC stocks

There should, therefore, be periodic updates on the status of these stocks, say every six months. If investigations are still ongoing, then that should be said. The alternative is silence that can drag on for years, which runs counter to the imperatives of a disclosure-based market.

Shunfu Ville sold for S$638m to Qingjian

Shunfu Ville was sold to developer Qingjian Realty for S$638 million on Thursday, marking the largest collective sale since 2007.

The party is over for hedge funds. And the hangover could hurt

The hedge fund industry's golden age of fat fees and superior returns is over. And the future looks decidedly less fun.

CNN Money

Traders puzzled by rally in stocks linked to 2013 penny crash

A number of penny stocks linked to the 2013 penny stock crash saw their share prices jump on Monday amid heavy volumes, leaving traders mystified about who was doing the buying.

Latest SGX ‘hollowing out’ is different - and troubling

Whichever way you lean, one thing is for certain - the present hollowing out of the market, while reminiscent of previous episodes, is sufficiently different to be very troubling.

YuuZoo down 12% after auditors' disclaimer of opinion

Yuuzoo was down 2.4 Singapore cents or 12 per cent to S$0.176 on Thursday at 12.42 pm, after its auditors, Moore Stephens LLP, in its finalised auditors' report included a disclaimer of opinion over the firm's audited FY15 consolidated financial statements.

Noble Group set to clinch US$3b credit facilities

Noble Group is set to clinch about US$3 billion in bank credit facilities, sources close to the matter said, but it will have to offer the highest interest rate it has ever paid as lenders are wary after its ratings downgrades to junk status.

Noble Group slumps most since 2011 after Fitch debt ratings move

Noble Group Ltd plunged the most in more than four years after Fitch Ratings Ltd placed the company's debt ratings on negative watch as Asia's largest commodity trader was seen facing less financial flexibility amid a challenging market.

Midas touch gone, hedge fund industry's influence may be waning

After a decade in which hedge fund assets nearly doubled, there are several signs that the golden era for the US$2.9 trillion industry may be on the wane, draining the influence of fund managers who once considered themselves masters of the universe.

Firm fails to lift stay on $8m suit against its trader

An appeal to lift the postponement of an $8 million lawsuit brought by a stockbroking firm against one of its remisiers was struck out by Singapore's apex court last month.

Fitch puts Noble on negative rating watch

The last remaining credit rating agency with whom Noble Group still enjoys an investment-grade rating might now be changing its mind.

YuuZoo surges in brisk trading on stronger Q1 profit, revenue

This came on the back of what YuuZoo described as "very strong" results for the first quarter ended March 31, 2016, which it announced late on Thursday.

Rising market fails to lift MTP laggards

A rising tide ought to lift all boats. The recent tentative recovery in the local stock market, however, seems to have left a pool of laggards languishing behind.

Ex-CFO of Sinomem to pay S$316,000 penalty to MAS for insider trading

The Monetary Authority of Singapore (MAS) on Tuesday said that it has taken civil penalty action against Pu Weidong and Triumpus Assets Management Pte Ltd (Triumpus) for insider trading in the shares of Sinomem Technology. They will pay S$316,000 as a civil penalty.

The impact of short selling on insider trading

History is replete with examples of insider trading, globally and in Singapore.

More opportunities for PMETs to convert to infocomm technology sector

Professionals looking to make the switch to infocomm technology (ICT), or to upgrade their skills in the sector, can now sign up for eight new ICT conversion programmes.

A price war among mainland China’s brokerages is growing as they rush to cut fees for securities trading

A price war among the mainland’s brokerages is escalating as they rush to cut the fees charged on securities trading amid a slumbering stock market.