Singapore Exchange (SGX)

Behind the curve again... GG highlighted this concern long time ago... now bonds down in the dumps then they start to step up?

(03-08-2015, 03:53 PM)CityFarmer Wrote: More transparency in bond prices...

SGX introduces evaluation bond prices

SINGAPORE (Aug 3): Singapore Exchange (SGX) ( Financial Dashboard) has introduced evaluated bond prices on its website to provide independent evaluations of SGX-listed debt securities.

Bonds are generally traded over the counter (OTC) so there is a lack of public price information.

The evaluated bond prices will provide a reference point for both bond issuers and investors and help in their assessment of debt securities, SGX says on Monday.

The end-of-day evaluations are published on a one-day delayed basis at www.sgx.com/evaluatedbondprice

SGX has more than 1,900 bonds listed by issuers from more than 30 countries.
http://www.theedgemarkets.com/sg/article...ond-prices

The coming 1st S-Chip listing, under a newer framework. Will investor accept the "newer" S-Chip?

Jiangxi Jiangling Chassis to seek Mainboard IPO

SINGAPORE (Aug 12): Jiangxi Jiangling Chassis Co., a China-based manufacturer of car parts, has lodged its preliminary prospectus for a planned listing on the SGX Mainboard.

The company is the first seeking listing under the direct listing framework that was established between Singapore and China back in November 2013. Previous China-based companies listed in Singapore were structured in such a way that they are subsidiaries of entities incorporated in offshore regimes like British Virgin Islands.

This state-owned enterprise, based in Jiangxi province, is in turn a subsidiary of Jiangling Motors Co Group (JMCG), described as the largest mid- to high-end light automobile manufacturer in the province. JMCG is also the largest customer of Jiangxi Jiangling Chassis Co.

Besides its parent company, Jiangxi Jiangling Chassis also supplies its products to both domestic and overseas customers such as Zhengzhou Nissan, Beiqi Foton, Dongfeng Auto and Xiamen King Long, as well as Japan’s Isuzu Motors, Taiwan’s China Motor Corporation and Turkey’s Karsan.

For FY14, the company posted earnings of RMB104.5 million ($22.8 million), up from RMB77.6 million in FY13. Revenue in the same period was RMB1.4 billion, up from RMB1.16 billion. In the most recent 1Q15, the company’s net profit was RMB21.1 million on revenue of RMB350 million.

The company wants to raise funds to expand its production facilities. Specifically, it is planning an RMB260 million investment to build a new 23,000 sqm facility that will help increase its annual production capacity from 600,000 sets of axles to one million sets.

For the IPO, which is arranged by China International Capital Corporation (Singapore), the company plans to offer nearly 18.3 million new shares.
http://www.theedgemarkets.com/sg/article...nboard-ipo

Mata bochap liao???

Attacked by short sellers? Respond quickly, says SGX


603 words
21 Aug 2015
TODAY (Singapore)
TDAYSG

English
© 2015. MediaCorp Press Ltd.
SINGAPORE — Companies under siege from heavy selling by short sellers or triggered by analysts’ reports must respond quickly to prevent their share prices from being distorted, the Singapore Exchange (SGX) said yesterday.
“A company under attack by short-sellers, or through highly critical reports by research firms and even leading commentators, must be sensitive to the severity of the situation and must provide, as much and as quickly as possible, a full response so that shareholders have a complete picture and can make informed decisions,” SGX chief regulatory officer Tan Boon Gin said in the bourse’s Regulator’s Column.
“A few listed companies have recently become the subject of reports questioning the veracity of their financials and other disclosures, or other rumours and speculation. In some instances, their shares were sold down steeply, or bought up,” he noted.
Mr Sundaram Janakiramanan, finance professor at SIM University, said: “It seems that the timing of this column is the result of trading Noble Corp shares … As regulators, the exchange will have to protect the investors from the actions of a few who may misrepresent or provide misinformation.”
Noble, the worst performer in the benchmark Straits Times Index this year, has slumped more than 60 per cent since mid-February when its accounting methods came under attack by a group called Iceberg Research.
Since then, profit has been hurt by the slide in global commodity markets and the firm’s credit outlook has been cut to negative.
Noble released a 140-page presentation at an event on Monday to improve disclosure and transparency but investors were unimpressed, driving the shares down more than 12 per cent this week.
Short interest as a percentage of Noble’s outstanding shares climbed to a record 14.2 per cent on Monday, based on data from research group Markit tracked by Bloomberg, as brokerages such as Phillip Securities, UOB-Kay Hian and CIMB Securities stepped up trading restrictions on the counter.
For a market to function well, bullish investors should be able to buy securities and go long, while bearish investors should have the ability to short-sell.
This supports market liquidity and efficient price discovery, SGX said. But it reiterated that trading in a company’s shares may be halted to prevent price distortion.
“Short sellers, commentators and research firms should be aware that the company is entitled to a right of reply and SGX is willing to allow a halt or suspension pending the preparation of the reply, if necessary, to prevent prices from being distorted by sudden and one-sided criticism. The exchange will also take action if the criticisms contain false or misleading statements,” Mr Tan said.
“SGX will at the same time closely monitor the company’s disclosures and trading activities of its shares, and constantly engage with the company. We will take all action necessary to maintain a fair, orderly and transparent market including working with other regulatory bodies,” he added.
SIAS president and chief executive David Gerald said: “The comments made by Mr Tan in the Regulator’s Column is to clarify the role of the company and SGX in unusual trading and also the current rules relating to the orderly function of the market, specifically for short selling. This is something all investors should understand, if they want to invest in our market and is part of the market structure.”
“I call on all companies to be more transparent and swiftly disclose any activity that would affect the price of the shares,” he added. AGENCIES, WITH ADDITIONAL REPORTING BY LEE YEN NEE

MediaCorp Press Ltd

Document TDAYSG0020150820eb8l0001a

(26-08-2015, 11:46 PM)greengiraffe Wrote: Mata bochap liao???

Attacked by short sellers? Respond quickly, says SGX

See photo: Could this be the reason Mata respond slow?

In the past, police wears shorts, easy to run & catch thief faster. Nowaday, police wears tight pants __________________.

The update on the new STI weight-age...

SGX announces new STI weightings after review

SINGAPORE (Sept 9): Singapore Exchange is tweaking the constituents of its benchmark Straits Times Index and has published details on the new constituent weightings.

After changes are made on Sept 21, the banking sector's weight will increase to 36.3% from 33.8%, real estate will rise to 18.4% from 16% and industrials will decrease to 18.2% from 24.8%, among other tweaks.

As previously announced, UOL Group ( Valuation: 1.80, Fundamental: 1.40), SATS and Yangzijiang Shipbuilding (Valuation: 2.40, Fundamental: 1.90) will join the STI, while Jardine Matheson, Jardine Strategic and Olam International (Valuation: 1.40, Fundamental: 0.50) will be omitted.

The new constituents will each average approximately 1% weight on the STI.
http://www.theedgemarkets.com/sg/article...ter-review

ICE is finally starting in Nov this year, while Deutsche Boerse's derivative exchange has been delayed by 18months to end 2017.

http://www.bloomberg.com/news/articles/2...lse-starts

SGX derivative biz benefited by China regulator curbings...

(not vested)

China brokers shut out of own futures market turn to Singapore

SHANGHAI (Sept 15): Chinese brokerages ruing the collapse of futures trading in Shanghai are pitching clients similar contracts in Singapore.

"Goodbye, China Financial Futures Exchange; Hello, FTSE A50!" reads an advertisement by a unit of Shenzhen-based Essence Securities Co. on the WeChat messaging service, referring to Singapore-traded futures on an index of the biggest mainland companies.

China’s domestic equity futures market, ranked the world’s busiest as recently as July, has seen volumes plunge 99% since June as policy makers curbed leverage and position sizes and announced investigations into “malicious” short sellers. That’s left brokerages, which boosted staff numbers by 50 percent since 2011, turning to promoting contracts on the SGX FTSE China A50 Index as an alternative.
...
http://www.theedgemarkets.com/sg/article...-singapore

(15-09-2015, 10:11 AM)CityFarmer Wrote: SGX derivative biz benefited by China regulator curbings...

(not vested)

After the S-chip saga and realizing it can never take over HKEX as the 'gateway of China', it is the least i would expect to happen, with SGX now positioned as financial products supermarket, targeted at Asian in particular (so called 'gateway of Asia'). A little while ago, it was the Nikkei options/futures blooming when Abenomics triggered its own QE and now it is A50 futures after HK-Shanghai connect.
A financial equivalent of Sheng Siong i would say.

One of the key improvements, after the S-Chip saga.

Gautam Banerjee to chair SGX Listings Advisory Committee, Eric Ang to chair
Listings Disciplinary Committee, Francis Xavier, SC to chair Listings Appeals
Committee

Singapore Exchange (SGX) has set up the three independent Listings Committees to strengthen the listing policymaking
and review process, and enhance how Listing Rules are enforced. Public feedback on the establishment of
the Committees was sought last year.

Gautam Banerjee will chair the Listings Advisory Committee (LAC) while Eric Ang and Francis Xavier, Senior
Counsel (SC) will chair the Listings Disciplinary Committee (LDC) and the Listings Appeals Committee (LApC)
respectively. Their appointments were made in consultation with the Monetary Authority of Singapore (MAS).
...
http://infopub.sgx.com/FileOpen/20150915...eID=369602

We all know the sad state of SGX and the poor quality of new listings plus the lack of mataing... another high paying employee justifying his existence:

http://www.straitstimes.com/business/com...t-says-sgx

The Singapore Exchange has put in substantial efforts to support companies after they go public here, said SGX head of sales and clients Chew Sutat.
"A lot more needs to be done to raise company profile and attract investors of all types, and SGX has certainly gone the extra mile on that front," Mr Chew told The Straits Times on the sidelines of the Healthcare Corporate Day last Friday.
Organised with CIMB, the event was the latest in a long list of activities that the SGX has conducted in the past 12 months to connect companies with investors.

"Over the year, we have organised at least 66 events profiling over 120 listed companies. We have done six corporate days in not just Singapore, but also Tokyo and Kuala Lumpur, to reach out to institutional investors and private wealth. All these are very tangible."
The profiling events and road shows are free for both the listed companies and investors, he added.
Mr Chew made this comment when responding to market concerns over the lack of liquidity and new listings in Singapore's equities market. The notion that the SGX has not done enough to support the market is false, he noted.