Tag Archive | "SGX"

Securities turnover on SGX down 3% in July

Securities turnover on the Singapore Exchange (SGX) fell 3 per cent in July to S$29.3 billion compared to a year ago.

In its monthly statistical report, SGX said this translated to an average of S$1.4 billion for securities traded daily.

The biggest decline in volume trading was in the healthcare sector, which fell 72 per cent to 309 million shares valued at S$244 million.

Financials and industrials came next with their share volumes declining 25 per cent and 13 per cent respectively.

However, despite the fall in volumes, the two sectors still led in terms of value, with financials leading at S$7.8 billion and industrials posting S$4.7 billion in July.

Oil and gas saw the biggest trading gain last month, rising 52 per cent to 1.5 billion shares valued at S$2.9 billion.

Meanwhile, trading volume for structured warrants increased 84 per cent on-year to 3.4 million units last month.

For derivatives, SGX said total volume increased 15 per cent on-year to 5.2 million contracts. On average, there were 252,751 contracts traded daily in July.

Nifty futures led the volume gain, growing 52 per cent from a year ago with 1.2 million contracts traded.

The monthly report said that volumes for agricultural commodity futures also grew a marginal 3 per cent on-year to 21,409 contracts after the consolidation of SICOM contracts onto the SGX platform.

More OTC commodity contracts were also traded in July as the volume inched 5 per cent higher from a year ago to 19,812 contracts.

All in, SGX also cleared some S$32 billion worth of OTC Interest Rate Swaps last month, which brings the total amount cleared at S$142 billion notional since its launch.

Adapted from CNA (By Millet Enriquez)

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SGX Securities Market Starts All-day Trading

Singapore Exchange’s (SGX) securities market successfully began trading continuously all day.

Turnover from 12.30pm to 2.00pm was $110 million, contributing to 6.4% of today’s trading.

All-day trading allows investors to respond more easily to regional market movements and news flows as Singapore’s securities market hours now overlap more with those of other Asian exchanges, including those in China, India and Japan. Investors face less risk as they will be able to access the market throughout the day to manage their Pan-Asian investments on SGX.

“With the securities market open all day, Singapore strengthens its position as a leading financial centre. At the same time, investors will benefit from increased investment opportunities which should eventually, help improve liquidity. SGX would like to thank investors, the Securities Investors Association (Singapore), Member firms and vendors for their efforts in ensuring a smooth start to all-day trading,” said Mr Nels Friets, Head of Securities at SGX.

Separately, SGX reduced minimum bid size for most securities from 4 July. Bid/ask spreads have narrowed, lowering trading cost for investors by 20% to 45%. Total savings for investors from the new bid sizes in July was about $130 million.

Spreads for shares priced below $0.20 have narrowed an average 53% compared with the June average. Trading volume for these shares in the four week from 4 July has risen 51% to 5.2 billion shares from June. Structured Warrants volume increased 50% to 3.4 billion in the same period.

Adapted from MarketWatch & Singapore Exchange.

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SGX posts 7.9% fall in full year profits

Singapore Exchange Limited on Monday posted a 7.9 per cent decline in fiscal 2011 profits from S$320.1 million in 2011 to S$294.9 million on higher expenses.

Revenue rose 3.3 per cent from S$639.7 million the previous year to S$660.7 million.

The group registered a 6 per cent increase in securities daily trading value to $1.6 billion and an unprecedented derivatives volume of 66 million contracts in the year.

Expenses, however, increased 10 per cent to S$287 million due to technology expenses incurred by its new platforms and its Reach initiative.

It said that it will continue to focus on expanding its Asian Gateway position through new customers and products and services.

SGX has made micro-market structural changes to in its Securities market, by lowering its minimum bid-ask spreads and, more recently, scrapping its lunch breaks for continuous trading.

Of its outlook, the company said that the market could be affected by macroeconomic factors in Asia, Europe and USA in the near term. It will, however, continue to roll out new initiatives to meet its client’s needs while strengthening its position, it said.

SGX declared an interim dividend of 12 cents and final dividend of 15 cents, resulting in a total of dividend of 27 cents, unchanged from last year.

Adapted from The Business Times.

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SGX launches online help for investment products

The Singapore Exchange (SGX) on Friday introduced two online initiatives, the “Customer Account Review Module” and the “SGX Online Education Programme”, both aimed at supporting retail investors in their understanding and trading of “Specified Investment Products” listed on SGX.

“Specified Investment Products” have terms and features that could be challenging for retail investors to understand. The products include Exchange-Traded Funds, Structured Warrants and Exchange-Traded Notes.

The SGX initiatives come in response to the Monetary Authority of Singapore’s (MAS) new requirements that broking firms have to assess a retail customer’s investment knowledge and experience before selling them certain investment products.

The interactive Online Education Programme, where investors are able to access information, requires them to take a quiz at the end of the programme to confirm their understanding.

The Customer Account Review lets investors furnish information such as their investment experience, education and professional qualifications, so that broking firms can assess if the customers have sufficient experience and knowledge to trade.

SGX’s chief regulatory officer Yeo Lian Sim said that SGX implemented such programmes as they hoped investors can be better informed of products before they invest in them.

“We will also update the Online Education Programme as and when we introduce new products on SGX,” she said. “We hope all investors will find the Online Education Programme useful.”

Adapted from CNA (By Amanda Feng).

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Singapore Exchange Welcomes Indonesia’s Malacca Trust to Catalist

Singapore Exchange (“SGX”) is pleased to welcome the listing of Malacca Trust Limited (“Malacca Trust”) on Catalist, under the stock code of “5TH”.

As one of Indonesia’s established financial services groups, Malacca Trust provides a wide range of financial services to a diverse customer base including both retail and institutional customers in the Indonesian market.

The group specialises in consumer financing, asset management, and securities brokerages via its subsidiaries of banks. The Group’s asset management arm has managed more than 40 funds and was ranked 7th largest fund manager based on assets under management for the period December 2009 to January 2011, according to 2011 Investor Magazine.

Mr Rudy Johansen, Chief Executive Officer of Malacca Trust, said, “We are delighted with our successful listing today on SGX today. This is a significant milestone and it marks the beginning of a new phase for Malacca Trust, providing us with a platform for future growth. We would like to thank our partners at the Singapore Exchange for assisting us in achieving this milestone.”

“We warmly welcome Malacca Trust to the SGX family. Its listing not only adds to our pool of listed companies from South East Asia but also the financial services cluster on SGX. We are pleased that Malacca Trust had chosen SGX to support its growth ambition” said Mr Lawrence Wong, Head of Listings, Singapore Exchange.

Malacca Trust, with an estimated market capitalisation of about S$76.3 million, brings the total number of banking and financial services companies on SGX to 30, with a combined market capitalisation of S$172 billion.

Adapted from Singapore Exchange & ACN Newswire

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SGX proposes new algorithm for equilibrium prices

Singapore Exchange said on Friday it is proposing a new algorithm to calculate the way trading orders are matched during opening and closing periods and during adjustment phases.

The exchange said its proposed algorithm will compute a price that is a better reflection of the market as it will allow for an improved calculation of the levels of demand and supply in the market.

SGX is proposing to implement the algorithm within its new trading engine Reach during the second half of 2011. (Reporting by Rachel Armstrong)

Adapted from Reuters.

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Share delisting trend seen to continue on SGX

Recent share delistings, especially among property counters on the Singapore Exchange (SGX), have raised the interest of small shareholders.

This is because delisting bids can come with attractive exit offers as high as a 20 per cent premium to the stock’s last traded price, according to Liu Jinshu, SIAS Research investment analyst.

Analysts expect the delisting trend to continue, given the lacklustre mood in the stock market.

The delisting bids of property counters MCL Land last November and Allgreen in May have left shareholders looking out for more counters that may follow suit.

Analysts said potential privatisation targets are usually those that have a majority shareholder owning between 50 and 70 per cent of the company and are trading at a steep discount to their book value or revalued net asset value (RNAV).

Liu said: “Recently we’ve seen several delisting cases on the SGX, and names have popped up as potentials…..for example Guocoland and Ho Bee.”

Analysts said listed companies may also want to take their companies private when their shares are thinly traded on the exchange.

They added that some companies may also choose to delist here but to be relisted on another bourse with more attractive valuations.

Terence Wong, co-head of research at DMG & Partners, said: “Some of the sectors that could likely see such privatisation would likely be in the consumer space, as well as some of the S-chips. Many of the S-chips are trading at just half of what they used to be trading at.”

Some non-property companies that have delisted include Chinese retailer Time Watch and Taiwanese lender Financial One.

Market watchers said one issue that may crop up during delisting is the protection of minority shareholders’ interests.

Nicholas Mak, executive director for research & consultancy at SLP International, said: “Let’s say the listed entity were (is) currently traded at a significant discount to their current IPO price, for some of their loyal shareholders who bought shares from the first day when it was listed, once it goes delisted, I think some of them may be deeply disappointed that they have suffered quite a significant loss.”

Besides ending up with a loss, minority shareholders may also be deprived of future share price gains when a company is delisted.

Adapted from CNA (By Linette Lim)

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Singapore Exchange Prepares for Growth by Selecting TNS for Co-Location Services

The Singapore Exchange (SGX) is preparing for anticipated growth by offering co-location services to their customers with the support of Transaction Network Services TNS
-1.54% .

TNS has been identified as an approved Network Service Provider for firms seeking to access the SGX co-location centre. Customers choosing TNS’ Secure Trading Extranet will benefit from the ability to connect to SGX to route orders and access market data in a secure, fast and low latency environment.

The partnership with TNS will enable SGX customers to benefit from the efficiency of co-location, which is becoming the industry preference for maximising connection speed and access to critical financial data. As a leading financial trading platform in Asia, SGX offers a range of products and information on securities and derivatives. With TNS, SGX customers can gain the advantage of a cost-efficient, fully-managed connectivity service, with dependable access to real-time market data to support activities needed in a fast-paced trading environment.

Dominic Lim, Vice President, Head of Market Access, said: “SGX is delighted to secure a reliable and well-known service partner such as TNS, a firm whose established provision within the financial services community brings a highly-available and dependable service to our customers. TNS helps SGX customers actualise the benefits of co-location by enabling a cost-effective solution for access to timely market information and opportunities to engage with other traders, brokers and investment firms connected on the TNS network.”

SGX customers using TNS Secure Trading Extranet will get real time information from SGX’s Securities Market Direct Feed, SGX Derivatives Quote, SGX News and others, as well as access to TNS’ trading community. The agreement with TNS provides SGX customers with an onsite direct route between the exchange and its trading facilities. A reliable, fast connection to market data is an essential requirement for traders who require speedy, informative decision making to capitalise on big trading volumes or pricing differentials.

Mr Lim added: “High-frequency trading depends on the ability of a secure, low-latency solution from a well-respected knowledgeable expert in financial data connectivity, which is why TNS was selected for our preferred suppliers list.”

TNS’ Secure Trading Extranet will enable SGX customers to access TNS’ 1,700-community endpoints, representing buy-side and sell-side institutions, market data and software vendors, exchanges and alternative trading venues, via more than 115 points of presence.

John Owens, TNS’ Vice President of Exchanges & ECNs, said: “The Asian market continues to evolve at a rapid rate, and TNS’ growing presence in this region is evidence of our capabilities in connecting global markets. In selecting TNS Secure Trade Extranet, SGX has put itself in a fantastic position to service its customers demand for a highly-available, cost-effective and reliable service, while at the same time offering increased trading opportunities between SGX customers and the greater TNS financial community.”

Adapted from MarketWatch & Transaction Network Services.

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Share delisting trend seen to continue on SGX

Recent share delistings, especially among property counters on the Singapore Exchange (SGX), have raised the interest of small shareholders.

This is because delisting bids can come with attractive exit offers as high as a 20 per cent premium to the stock’s last traded price, according to Liu Jinshu, SIAS Research investment analyst.

Analysts expect the delisting trend to continue, given the lacklustre mood in the stock market.

The delisting bids of property counters MCL Land last November and Allgreen in May have left shareholders looking out for more counters that may follow suit.

Analysts said potential privatisation targets are usually those that have a majority shareholder owning between 50 and 70 per cent of the company and are trading at a steep discount to their book value or revalued net asset value (RNAV).

Liu said: “Recently we’ve seen several delisting cases on the SGX, and names have popped up as potentials…..for example Guocoland and Ho Bee.”

Analysts said listed companies may also want to take their companies private when their shares are thinly traded on the exchange.

They added that some companies may also choose to delist here but to be relisted on another bourse with more attractive valuations.

Terence Wong, co-head of research at DMG & Partners, said: “Some of the sectors that could likely see such privatisation would likely be in the consumer space, as well as some of the S-chips. Many of the S-chips are trading at just half of what they used to be trading at.”

Some non-property companies that have delisted include Chinese retailer Time Watch and Taiwanese lender Financial One.

Market watchers said one issue that may crop up during delisting is the protection of minority shareholders’ interests.

Nicholas Mak, executive director for research & consultancy at SLP International, said: “Let’s say the listed entity were (is) currently traded at a significant discount to their current IPO price, for some of their loyal shareholders who bought shares from the first day when it was listed, once it goes delisted, I think some of them may be deeply disappointed that they have suffered quite a significant loss.”

Besides ending up with a loss, minority shareholders may also be deprived of future share price gains when a company is delisted.

Adapted from CNA ( By Linette Lim ).

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Ascendas REIT to develop Unilever Four Acres Singapore

Ascendas REIT said it will be developing a centre for Unilever Asia at an estimated development cost of S$32.3 million.

This is excluding the S$26.4 million premium for the underlying land located at Nepal Park.

In a filing with the Singapore Exchange (SGX), A-REIT said the property – called Unilever Four Acres Singapore – will also enlarge its presence in One-North.

Specifically, it said its third property within One-North will enhance its operational efficiency and economies of scales in operations.

The REIT added that the development is also in line with Singapore’s economic development direction to attract investment from value and knowledge intensive industries.

Going forward, A-REIT believes that the development of the site will provide shareholders with potentially greater returns compared to outright acquisitions of income-producing properties.

Adapted from CNA ( By Travis Teo ).

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SGX offers corporate solutions to listed firms

The Singapore Exchange (SGX) has partnered with NASDAQ OMX, the world’s largest exchange, to provide a platform of corporate solutions to locally listed companies.

Called Corporate Solutions, the software – which helps to enhance corporate activities of firms – is available to all SGX-listed companies. The price will depend on the number of services subscribed to.

“We have seen a workflow process that has come together across these areas. The convergence of three key areas – the intelligence area which feeds into the investor relations communications areas, the corporate communications world, and of course the governance space,” said Dan Wadsworth, Vice President, Asia, Global Corporate Solutions, NASDAQ OMX.

In particular, SGX said the local market requires more investor relations support services as more public companies look to strengthen communication with the financial community and its shareholders.

Investor relations (IR) is the responsibility of public companies to provide accurate financial communication with its shareholders, financial analysts, and investors.

“As companies become more aware of what they need to do in the area of IR, they will be out there looking for enablers, looking for tools to do it better. Depending on companies, sometimes they may not want to do everything in-house, or they are unable to do it in-house for various reasons,” said Lawrence Wong, Head of Listings at SGX.

The local bourse added that smaller cap companies can put the spotlight on themselves by utilising the very same platforms which larger companies also capitalise on for exposure.

“So I don’t have to use big communications department. The whole process might not be too expensive if you know how to actually do it,” said Kenny Yap, Executive Chairman of Qian Hu.

Aside from streamlining the various channels of financial communication under one roof, investor relations tools can mean cost savings. This will benefit companies with low headcount and budget constraints.

Adapted from CNA (By Stella Lee)

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SGX Appoints Dale Ginn as President and CEO

Hugh Wynne, Executive Chairman of SGX Resources Inc. (TSX-V: SXR) (“SXG” or the “Company”) is pleased to announce that the Board of Directors has appointed Dale Ginn President and Chief Executive Officer.

Mr. Ginn is a Professional Geologist who brings over 25 years of mine and exploration geology, mine management, and executive experience in precious and base metals to SGX. Mr. Ginn is Executive Vice-Chairman of San Gold Corporation’s (“San Gold”). Until December 2010, Mr. Ginn was President and Chief Executive Officer of San Gold, a title he had held since its inception as a developer of the Rice Lake Project in 2004.

Prior to San Gold, Mr. Ginn held a variety of senior roles with mining and exploration companies including Granges Exploration Ltd., Goldcorp Inc., Hudson Bay Mining and Smelting Company Ltd., Westmin Mining Corporation, and Harmony Gold Mining Company Ltd. Mr. Ginn holds a Bachelor of Science (Geology) from the University of Manitoba, is a registered Professional Geoscientist (“P.Geol.”) with the Association of Professional Engineers and Geoscientists of the Province of Manitoba, and is the longest serving board member with the Mining Association of Manitoba.

Commenting on Mr. Ginn’s appointment, Mr. Wynne stated, “Dale has a tremendous track record as a geologist and is an inspiring leader as evidenced by his contributions in the initiation and start-up of San Gold’s operations at the Rice Lake Gold Project. I believe that SGX’s shareholders will benefit greatly from Dale’s geologic, mine development, and capital markets experience as we develop the Timmins North gold deposit and other projects in our pipeline.”

Upon his appointment, Mr. Ginn stated “My initial objectives at SGX will be to direct the Company’s exploration and development efforts, with a focus on identifying other high-potential targets, while helping to improve the Company’s visibility with the capital markets.”

About SGX

SGX is a gold explorer and development company that owns a 50% interest in the Timmins North Gold Project. SGX was spun out of San Gold Corporation in 2009 as a gold exploration company focused on early stage and grassroots projects located outside of Manitoba’s Rice Lake Greenstone Belt, specifically in the Timmins area of Ontario. The Timmins North Gold Project is 50% owned by the San Gold Corporation and 50% by SGX Resources Inc., with SGX being the operator.

Adapted from CNW.

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