Singapore Exchange (SGX)

Seriously?

Why do SGX want to consider getting inputs in the first place? This is no brainer a big "NO"

Like what the Chinese saying goes "千年修道, 不如一夜成魔". Seems like SGX is trying (desperately) to grow...

Half yearly is good enough. I don't see why I need to read quarterly financial statements.

(11-01-2016, 10:59 PM)marandaz Wrote: Seriously?

Why do SGX want to consider getting inputs in the first place? This is no brainer a big "NO"

Like what the Chinese saying goes "千年修道, 不如一夜成魔". Seems like SGX is trying (desperately) to grow...

"A no brainer"? There are already different opinions in this tiny thread. 

IMHO, less disclosure, means less updated information, more uncertainty and less interest from risk aversion, hence less liquidity.

SGX says public consultation. But the fact that they bring out this means >90% they already decided. I cannot recall if they consulted public on the MTP but it went thru. In SG, public consultation is wayang. Just to show there is a process for democracy but no true democracy in reality.

(11-01-2016, 04:18 PM)CityFarmer Wrote: I am against the change. Quarterly report is required, for a fast-moving biz environment today. The ”short-termism” is always there, with MAS disclosure-based regime in Singapore. Cost of compliance should be acceptable, since I have never seen company with significant expense in the compliance cost.

What do you think?

(not vested)

Singapore Exchange reviewing quarterly financial reporting rule

SINGAPORE (Jan 11): Singapore Exchange Ltd. ( Valuation: 2.10, Fundamental: 2.30) is reviewing a 13-year-old rule requiring listed companies to provide quarterly financial reports in light of moves by other regulatory jurisdictions including the U.K. to drop the practice.

“We are aware that there are strong proponents and arguments on both sides of the quarterly reporting debate,” SGX said in an e-mail Monday. “The arguments need to be viewed against a regulatory landscape that has changed since 2003. We will consult the public if there is to be any change in the listing rules.”

Companies with a market value of at least $75 million are currently required to provide quarterly financial reports.

Proponents of maintaining the rule argue that quarterly reports give more timely disclosure in volatile markets and instil financial discipline, said the bourse. Those calling for the scrapping of the requirement point to the risk of ”short-termism” that quarterly reporting may encourage as well as the cost of compliance, it added.
http://www.theedgemarkets.com/sg/article...rting-rule

(12-01-2016, 09:09 AM)CityFarmer Wrote:

(11-01-2016, 10:59 PM)marandaz Wrote: Seriously?

Why do SGX want to consider getting inputs in the first place? This is no brainer a big "NO"

Like what the Chinese saying goes "千年修道, 不如一夜成魔". Seems like SGX is trying (desperately) to grow...

"A no brainer"? There are already different opinions in this tiny thread. 

For some it makes no difference (no change to risk-reward).  For some it makes a lot of differences (more risk).  So there is a net dis-benefits to the investing community but will SGX care? The answer is a no-brainer "NO".

(12-01-2016, 10:23 AM)GPD Wrote: SGX says public consultation.  But the fact that they bring out this means >90% they already decided.  I cannot recall if they consulted public on the MTP but it went thru.  In SG, public consultation is wayang.  Just to show there is a process for democracy but no true democracy in reality.

For punters , even reporting once a year is also ok for them , after all most of them don't even look at ARs. For serious investors , if monthly reporting is available, they will vote for it .

SGX must wayang that they are very consultative , public opinions are always important . Even if it is a done deal  ,  they can always say it is the public that agree to this fantastic proposal.

Since they are running out of ideas in attracting new IPOs ,  they just have  to flick flock ( 炒冷饭 ) to make SGX more ''attractive'' .
Like they changed to allow substantial shareholders that they don't have to declare any single trade,  unless its holding cross another percentage point.

(12-01-2016, 01:53 PM)cfa Wrote:

(12-01-2016, 10:23 AM)GPD Wrote: SGX says public consultation.  But the fact that they bring out this means >90% they already decided.  I cannot recall if they consulted public on the MTP but it went thru.  In SG, public consultation is wayang.  Just to show there is a process for democracy but no true democracy in reality.

For punters , even reporting once a year is also ok for them , after all most of them don't even look at ARs. For serious investors , if monthly reporting is available, they will vote for it .

SGX must wayang that they are very consultative , public opinions are always important . Even if it is a done deal  ,  they can always say it is the public that agree to this fantastic proposal.

Since they are running out of ideas in attracting new IPOs ,  they just have  to flick flock ( 炒冷饭 ) to make SGX more ''attractive'' .
Like they changed to allow substantial shareholders that they don't have to declare any single trade,  unless its holding cross another percentage point.

One thing I really love to see in the quarterly report are shareholder's holding and also SGX please have shareholders declare who their shares are with especially those in nominees acct!!!!  Really don't know what these banks/houses are doing with those shares.  Everything is in the dark.

Why SGX don't want to take the lead in requesting for more transparencies from the company as example to show to the world?  I thought the world like to study the success of SG but why our SGX is only capable of studying and following (blindly) other countries?

(12-01-2016, 02:03 PM)GPD Wrote:

(12-01-2016, 01:53 PM)cfa Wrote:

(12-01-2016, 10:23 AM)GPD Wrote: SGX says public consultation.  But the fact that they bring out this means >90% they already decided.  I cannot recall if they consulted public on the MTP but it went thru.  In SG, public consultation is wayang.  Just to show there is a process for democracy but no true democracy in reality.

For punters , even reporting once a year is also ok for them , after all most of them don't even look at ARs. For serious investors , if monthly reporting is available, they will vote for it .

SGX must wayang that they are very consultative , public opinions are always important . Even if it is a done deal  ,  they can always say it is the public that agree to this fantastic proposal.

Since they are running out of ideas in attracting new IPOs ,  they just have  to flick flock ( 炒冷饭 ) to make SGX more ''attractive'' .
Like they changed to allow substantial shareholders that they don't have to declare any single trade,  unless its holding cross another percentage point.

One thing I really love to see in the quarterly report are shareholder's holding and also SGX please have shareholders declare who their shares are with especially those in nominees acct!!!!  Really don't know what these banks/houses are doing with those shares.  Everything is in the dark.

Why SGX don't want to take the lead in requesting for more transparencies from the company as example to show to the world?  I thought the world like to study the success of SG but why our SGX is only capable of studying and following (blindly) other countries?

 
Another nonsense is that MTP , does it change the fundamentals of the companies with this MTP implementation ?

Re : Holdings under Nominees , thought the substantial shareholders also declare their interests in their total shareholding ? Can they really hide their share holdings ?

(12-01-2016, 02:12 PM)cfa Wrote:

(12-01-2016, 02:03 PM)GPD Wrote:

(12-01-2016, 01:53 PM)cfa Wrote:

(12-01-2016, 10:23 AM)GPD Wrote: SGX says public consultation.  But the fact that they bring out this means >90% they already decided.  I cannot recall if they consulted public on the MTP but it went thru.  In SG, public consultation is wayang.  Just to show there is a process for democracy but no true democracy in reality.

For punters , even reporting once a year is also ok for them , after all most of them don't even look at ARs. For serious investors , if monthly reporting is available, they will vote for it .

SGX must wayang that they are very consultative , public opinions are always important . Even if it is a done deal  ,  they can always say it is the public that agree to this fantastic proposal.

Since they are running out of ideas in attracting new IPOs ,  they just have  to flick flock ( 炒冷饭 ) to make SGX more ''attractive'' .
Like they changed to allow substantial shareholders that they don't have to declare any single trade,  unless its holding cross another percentage point.

One thing I really love to see in the quarterly report are shareholder's holding and also SGX please have shareholders declare who their shares are with especially those in nominees acct!!!!  Really don't know what these banks/houses are doing with those shares.  Everything is in the dark.

Why SGX don't want to take the lead in requesting for more transparencies from the company as example to show to the world?  I thought the world like to study the success of SG but why our SGX is only capable of studying and following (blindly) other countries?

 
Another nonsense is that MTP , does it change the fundamentals of the companies with this MTP implementation ?

Re : Holdings under Nominees , thought the substantial shareholders also declare their interests in their total shareholding ? Can they really hide their share holdings ?

SGX thought by setting a MTP, it ensures values for investors because coy should (a very big and obviously flawed assumption) work hard to improve business and hence share price.  SGX really living in their own world.  This world has all sort of people.  SGX has all sort of companies.  Many already proven to be fraud and they know this.  Still they implement the stupid MTP.  Whole world tells them they cannot accept.  SGX is really the new Emperor's new cloth... fairy tale now...