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Hi Forumers,
Does anyone know what are the SGX regulations for directors to trade before or after earning release? For e.g. are directors of the company not allowed to trade 2 weeks before and after earnings release? I tried to google but could not find anything quickly.
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SGX Rule Book or Listing Manual doesn't have? Sorry can't be of much help, just throwing up some avenues.
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(23-01-2013, 10:42 PM)mrEngineer Wrote: Hi Forumers,
Does anyone know what are the SGX regulations for directors to trade before or after earning release? For e.g. are directors of the company not allowed to trade 2 weeks before and after earnings release? I tried to google but could not find anything quickly.
The rulings is
2 weeks before first 3 quarters FR and 1 month before full year FR, for those required to announce quarterly reports
or
1 month before half year and full year FR, for those not required to announce quarterly reports
“夏则资皮，冬则资纱，旱则资船，水则资车” - 范蠡
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There are rules and regulations but the stock market is never as "transparent" as you can see or think. People will always look for loopholes if they are in the positions to do so. IMO.
WB:-
1) Rule # 1, do not lose money.
2) Rule # 2, refer to # 1.
3) Not until you can manage your emotions, you can manage your money.
Truism of Investments.
A) Buying a security is buying RISK not Return
B) You can control RISK (to a certain level, hopefully only.) But definitely not the outcome of the Return.
NB:-
My signature is meant for psychoing myself. No offence to anyone. i am trying not to lose money unnecessary anymore.
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Thanks Andrew for providing the link! Jus following on the biosensors case, if a director holds material information (like financial results) before the blackout dates and decides to continue to trade, is the director subjected to insider trading? Unless the director is able to prove that they are not in contact of such material information, which I think is highly unlikely as most companies are able generate monthly financial reports before the end of following month (although they can claim that the figures may be incorrect or not verified by auditors etc)
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Well i guess usually whether is it material information or not it is debateable, you see UOB-Kayhian.. Mr Wee Ee chao usually comes in to support the stock price when its trading near to 1xpbv and (most of the time start purchases in dec) before the FY results announcement due to be announced in feb. Is that insider trading or trading on material information? Unlikely as the company also puts up the outlook in their quarterly report and its public info that you could see the average turnover value and volume on the exchange together with monthly stats, and hence he could argue that he is acting on the outlook posted and on publicly available info.
for the biosensors case i am not sure of the facts at that time, cant retrieve the sgx announcement already I am not sure if the loss for biosensors that year could be anticipated or not (as in guided in the outlook forecast. i.e challenging year ahead, signs of biz turning south in earlier quarters). if it was probably unforeseeable, then its probably insider trading
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