Tag Archive | "SGX"

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’s securities & derivatives trading volumes rise

The Singapore Exchange’s securities and derivatives trading volumes increased in June from a year earlier.

In the securities market, SGX said the daily average value for June rose 8 per cent from a year ago to S$1.2 billion.

Meanwhile, turnover of exchange traded funds jumped 68 per cent on-year to S$795 million.

Derivatives daily average trading volume rose 17 per cent from a year earlier to over 281,000 contracts.

Overall, total derivatives trading volume also grew by 17 per cent in June to 6.1 million contracts.

China A50 futures trading rose 21 per cent from May to over 223,000 contracts, while MSCI Taiwan futures volume increased 25 per cent on-year to 1.6 million contracts.

Nifty futures trading volume was up 48 per cent from a year ago to 1.3 million contracts.

Meanwhile, agricultural commodity futures volume also increased 48 per cent year-on-year to almost 21,000 contracts following the consolidation of SICOM contracts onto the SGX platform.

SGX said clearing of OTC interest rate swaps continued to grow, with June volume at a notional US$11.6 billion.

Shares of the Singapore Exchange closed 0.20 per cent higher on Tuesday propped-up by news that securities trading value increased in June from a year earlier.

Adapted from CNA (By Jonathan Peeris)

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Singapore Stocks-Seen opening higher; SGX in focus

Singapore shares are likely to open higher on Friday as improved U.S. data and moves by the European Central Bank to support struggling Portugal lifts the mood.

Singapore Exchange may be in focus after announcing it is consulting on a proposal to bring in circuit breakers for its securities market as a safeguard to help prevent huge swings in stock prices during times of price volatility.

Stocks and factors to watch:

— TIGER AIRWAYS

– Singapore budget carrier Tiger Airways said on Thursday that forward bookings on its Singapore operation remain solid and in line with their recent trend, despite the grounding of its Australian operation.

— OVERSEA-CHINESE BANKING CORP

– OCBC, Singapore’s second-biggest lender, said on Thursday it has priced A$500 million ($534.8 million) of three-year notes in an offering targeted mainly at institutional and sophisticated investors in Australia and Asia.

— SIM SIANG CHOON

– Singapore’s Sim Siang Choon said on Thursday its oil and gas arm Loyz Oil had finalised an agreement with Rex Oil & Gas for exploration activities in 35 areas across the Asia Pacific region. Rex offers technologies that may reduce exploration risks and costs, the firm said.

– Singapore’s benchmark Straits Times Index rose 0.36 percent on Thursday to 3,125.87 points.

– The Dow Jones industrial average gained 0.74 percent to finish at 12,719.49. The Standard & Poor’s 500 Index rose 1.05 percent to 1,353.22. The Nasdaq Composite Index advanced 1.36 percent to 2,872.66.

ASIA-PACIFIC STOCK MARKETS:

Japan S.Korea China

Hong Kong Taiwan SE Asia

Australia/NZ India

OTHER MARKETS:

Wall Street Gold Currency

Eurostocks Oil JP bonds

ADR Report LME metals US bonds

Adapted from Reuters.

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SGX proposes circuit breakers to curb price swings

Singapore Exchange (SGXL.SI) said on Thursday it is consulting on a proposal to bring in circuit breakers for its securities market as a safeguard to help prevent huge swings in stock prices during times of price volatility.

Circuit breakers are being brought in by exchanges across the world following the so-called “flash crash” last year in the U.S. when the Dow Jones industrial average plunged 700 points in the space of a few minutes before rebounding.

Singapore Exchange said it is looking to apply the circuit breakers to all the stocks in the Straits Times Index and the MSCI Singapore Free Index.

The circuit breakers would kick in if an incoming trading order would cause a stock to trade outside of a 10% band around its reference price. The circuit breakers would block that trading order and implement a five minute cooling off period where trading could only take place within the original trading band.

After the five minute cooling-off period, a new reference band will be established at the upper or lower limit of the previous price band which was exceeded.

Adapted from i3investor & Reuters.

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CEI, Keppel Land, Kim Eng, Tat Hong

The following companies may have unusual price changes in Singapore trading today. Stock symbols are in parentheses and share prices are from the previous close.

Singapore’s Straits Times Index gained for a fifth day, climbing 0.5% to 3,153.44 yesterday.

CEI Contract Manufacturing (CEI SP): The maker of circuit boards named Sia Chee Hoe as chief financial officer. The shares dropped 7.7% to 12 cents.

Keppel Land (KPLD SP): The real-estate unit of Keppel Corp. (KEP SP) was initiated with a “buy” rating in new coverage by analysts at BNP Paribas Securities Asia on speculation that office rents will increase. The shares rose 3.5% to $3.80.

Kim Eng Holdings (KEH SP) said its shares will be suspended from trading on the Singapore stock exchange from July 5. The securities broker has been taken over by Malayan Banking Bhd., which controls 91.17% of its shares after an offer closed yesterday, it said.

Tat Hong Holdings (TAT SP): The supplier of cranes said it named Lional Tseng as chief financial officer to replace Wong Hein Jee, who resigned. The shares were unchanged yesterday at 78.5 cents.

Adapted from i3investor & Bloomberg

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Singapore stocks likely rise on US; Tiger Airways, Keppel in focus

Singapore shares are likely to open higher on Monday after US markets posted their best week in two years on easing debt and economic fears. Singapore’s benchmark Straits Times Index rose 0.6% on Friday to 3,139.01 points. Here are stocks and factors to watch:

Shares of budget carrier Tiger Airways (TAHL.SI) may be in focus after Australia’s airline safety regulator said it has grounded the airline’s Australian operations over “serious” safety concerns, disrupting thousands of passengers at the start of the school holiday season. Tiger said the halt of its Australia operations would cost an estimated $2 million a week.

Keppel Corp (KPLM.SI), the world’s largest oil rig builders, said on Sunday a unit of Singapore-listed Mermaid Maritime (MMPC.SI) has exercised the first of two options to build a jackup rig worth US$184 million ($225 million).

Mapletree Industrial Trust (MAPI.SI) said on Saturday it has bought a portfolio of flatted factories and amenity centres from JTC Corporation for $400.3 million.

Hi-P International (HIPI.SI) said it expects to report lower revenue and net profit after tax for the second quarter compared to the preceding three months, due to the delay of projects from its customers, and higher labour and material costs.

Chinese snack and candy maker Hsu Fu Chi (HSFU.SI) suspended trading in its shares following media reports that Nestle SA (NESN.VX) has been holding talks to buy the Singapore-listed firm.

Adapted from i3investor & Reuters

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Keppel says Mermaid Maritime unit uses option for US$184m rig

Keppel says Mermaid Maritime unit uses option for US$184m rig

Keppel Corp (KPLM.SI), the world’s largest oil rig builders, said on Sunday a unit of Singapore-listed Mermaid Maritime (MMPC.SI) has exercised the first of two options to build a jackup rig worth US$184 million ($226 million).

The latest deal took the total new orders of Keppel Offshore & Marine, 100 percent owned by Keppel Corp, for the year-to-date to $7.4 billion.

The rig, which will be delivered in the third quarter of 2013, will be able to operate in water depths of 350 feet (107 metres), drilling depth of 30,000 feet and accommodating 150 people.

Keppel said the exercise of the option is not expected to have material impact on its net tangible assets or earnings per share for the current financial year that ends in December.

Adapted from i3investor & Reuters.

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SGX to scrap trading lunch break from Aug 1 (All-Day Stock Trading)

The Singapore Exchange (SGX) will begin all-day stock trading from 1 August, dropping its usual 90-minute lunch break.

The SGX said all-day trade will help investors respond better to regional market movements and news flow.

But some market participants remain sceptical about the move and have called it a “radical change”.

It was a move twice delayed, first while reportedly waiting for official approval and then again when allowing market participants more time to adapt.

But the SGX said the time is right for securities to be traded all-day after gaining full support of its key stakeholders.

It added that by providing full-day access, investors will have more trading flexibility.

“Continuous all-day trading will offer all investors more opportunities to trade and manage their risks,” said SGX CEO Magnus Bocker.

He added by embracing trading hours which are aligned with those of other key markets, Singapore will make further progress as an international financial hub.

In Asia, Korea Exchange, India’s National Stock Exchange and Australian Securities Exchange already trade without breaking for lunch.

Hong Kong stock exchange expanded its trading hours earlier this year.

Other international exchanges such as New York Stock Exchange, Nasdaq, and London Stock Exchange operate continuous trading sessions while the Tokyo Stock Exchange plans to increase its trading hours to attract more investors.

David Gerald, the president of the Securities Investors Association of Singapore, welcomed SGX’s move.

“Continuous trading will give investors the ability to respond to regional market movements, and flexibility to execute orders any time during the trading day,” said Mr Gerald.

To handle trade during lunch hour, SGX said brokerages can make arrangements like having a central dealing desk to serve investors’ needs.

However, some brokers do not support the move, pointing out this will incur costs and they use the lunch hour to meet clients and build relationships.

But they are ready to comply with this new ruling.

Albert Fong, president of The Society of Remisiers (Singapore), said: “We have highlighted our concerns during the consultative stage. What we need to say have been said and a decision has been made. Yes, some are still very concerned. Who is not concerned about a policy change that will have an impact on their livelihood and income? But what to do? As much as we are against the no-lunch-break environment, we need to move forward in a fast-changing competitive business environment.”

Chew Sutat, SGX’s Head of Securities, said: “We have also supported The Society of Remisiers in various programmes to help them adapt to the changes in the market place, that they are actually able to participate in full flexible access from wherever they are.”

Meanwhile, SGX said that with mobile trading on the rise, investors and dealers will also be able to use online services in a continuous trading environment.

Looking ahead, the exchange reiterated its plans to reduce the minimum bid size for securities on 4 July and the rollout of Reach, the world’s fastest trading engine. But it added it has no plans to further extend its trading hours.

Adapted from CNA (By Travis Teo).

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Dot Commodity joins SGX as trading member

Singapore Exchange (SGX) on Wednesday welcomed Dot Commodity, one of Japan’s top commodity futures broker by volume, to its derivatives market as a trading member.

SGX is the first exchange outside of Japan that Dot Commodity has joined.

Dot Commodity’s president, Jin Funada, said the firm wants to expand its product offerings and looks forward to building a stronger presence in Asia.

The addition of Dot Commodity brings the number trading members in the derivatives market to 33.

SGX derivatives market also has 36 clearing members.

In addition, the SGX securities market has 30 trading members and 29 clearing members.

Adapted from CNA (By Julie Quek)

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Good branding, good sales

A strong corporate brand can boost sales and lead to higher revenue growth.

That is according to a recent study which showed that about 80 per cent of companies with a branding campaign achieve consistently higher incomes, compared to firms that don’t have a branding strategy.

The study by consulting firm StrategiCom surveyed the branding initiatives of about 100 companies listed on Singapore Exchange (SGX).

Companies that engage holistic branding that include internal communications, relationship management, and market communications have recorded a higher average annual revenue growth rate from financial year 2006 to 2009.

Most companies are still holding back from spending big bucks on branding, but experts at a branding seminar held Monday urged companies to “think big” and stressed on how vital it is for companies to build their brands to capture a bigger market share.

The seminar, ‘Create Your Brand Legacy’, was organised by The Association of Small and Medium Enterprises (ASME).

Some 200 participants attended the seminar held in conjunction with the Singapore Prestige Brand Award 2011.

A study by StrategiCom showed that about 80 per cent of listed firms had benefited with consistently higher revenues over a three-year period, after undergoing a holistic branding approach.

It also highlighted that the positive impact on branding strategies is not limited only to listed companies but will benefit small and medium enterprises (SMEs) as well.

But industry players said one of the biggest challenges companies face is a consistent brand message.

EpiCentre Holdings Limited executive chairman & CEO Jimmy Fong said: “The challenges involve how to communicate our brand to our employees, our stakeholders, and to the rest of the customers – why they should trust our brand, why they should continue to buy from us again and again”.

Experts said good brands are built on a two-way relationship.

Customers engage with brands and vice-versa, so branding needs to be emotionally connecting and interact on a personal level with customers.

Adam Khoo Learning Technologies Group co-founder & executive chairman Adam Khoo said: “Dare to invest in branding.

“I think a lot of people always think that advertisement is only for established, big companies.

“But unless you first think like a big company when you’re small, you never become a big company.

“So even if you are ‘one man show’, think about how you brand yourself in terms of not just your media but as well as the way you interact with your customers”.

Almost half, or 49 per cent, of the companies that participated in the study are engaged in all three areas of corporate branding.

These are internal communications, relationship management and market communications.

The most practised area of corporate branding is internal communications with 81per cent of the companies who participated in the study applying the approach.

Adapted from CNA (Nurul Syuhaida).

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SGX-listed firms to get sustainability guide

In a bid to boost transparency and stay ahead, the Singapore Exchange (SGX) has launched a sustainability guide for its listed companies.

This guide outlines best practices for companies with regard to sustainability reporting.

In 1992, there were only 26 sustainability reports world wide, compared to the more than 5,000 today.

While sustainability reporting within Asia is at a very early stage, in Malaysia, there is already mandatory requirements for companies to produce some form of sustainability reports.

The move by Singapore to launch a guide for sustainability reporting is seen as a necessary stepping stone.

At the launch of the guide on Monday, SGX CEO Magnus Bocker highlighted the importance of sustainability reporting to stay ahead.

“Hong Kong has said, and intends to do a consult on its reporting guide. I assume it will be later this year,” Mr Bocker said.

“Our neighbour Bursa Malaysia instituted four years ago for their CSR as part of listed companies reporting.

“We will never be leaders as a global exchange, unless our companies are global leaders in the way they report, in the way they do business.”

SGX said it is the company’s board that should guide such initiatives.

But it added it will take time for such a move to become mandatory.

SGX has however added that it is open to suggestions on how to improve the guide.

Analysts say that education is key.

KPMG Singapore head of climate change & sustainability services Sharad Somani said: “Rather than changing the guidelines, I would say they have to do more market education exercise.

“You have to teach the market what they need to do.

“If you ask the industries, I think majority of them are convinced about it, but… don’t know what to do.”

SGX said the Policy Statement and Sustainability Reporting Guide are applicable to Mainboard and Catalist companies listed on SGX.

Adapted from CNA (By Rachel Kelly)

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SGX will re-tool corporate governance

Singapore Exchange (“SGX”) is consulting the public on amendments to the listing rules to enhance shareholder engagement, encourage participation at general meetings and increase disclosure of voting outcomes. SGX is of the view that communication and engagement of shareholders by listed companies are important components of good governance. The proposed rule revisions are as follows:-

(i) Hold General Meetings in Singapore

General meetings are important avenues for shareholders to interact with the board and management of listed companies. Shareholders have the right to ask questions and gain a better understanding of the developments and plans of the companies. For SGX primary-listed companies with a majority of their shareholder base in Singapore, holding general meetings locally is one of the best ways to facilitate engagement with shareholders.

The Exchange notes that some foreign-incorporated issuers may be legally restricted from holding general meetings outside those jurisdictions. In such cases, the company should hold a meeting (not a statutory meeting) in Singapore at an appropriate time for shareholders to meet and hear directly from the Board and management on company matters. These meetings also facilitate questions and comments from shareholders to their Boards.

The Exchange proposes for all primary-listed companies to hold their general meetings in Singapore unless prohibited by relevant laws and regulations in the jurisdiction of its incorporation. This proposal is meant to encourage shareholders’ participation and enhance their empowerment.

(ii) Vote by Poll at all General Meetings

Voting by poll is one of the ways for shareholders, who are owners of the company, to exercise their interests and rights. Shareholders can be empowered to protect their own interest through their right to vote at general meetings. Voting by show of hand may be simpler to administer and in most cases, may not make a difference to the outcome. However, voting by poll more precisely allocates the rights to each vote according to the size of shareholding.

The Exchange proposes for all listed companies to adopt voting by poll and will provide sufficient time for administrative and logistics preparation in anticipation of the proposed rule amendments. Already, several companies in Singapore have adopted voting by polls at their general meetings.

(iii) Disclose Details of the Outcome of General Meetings

Many major decisions are made during general meetings. Shareholders should be informed on decisions made and the outcomes of their voting. The Exchange proposes a new rule for issuers to make prompt disclosure of the results of the polls, including details such as the number of votes for and against each resolution, as well as the number of proxy votes cast.

The proposed rule changes serve to enhance accountability and transparency of our listed companies. These amendments will apply to both Mainboard and Catalist companies.

The current proposal is part of the ongoing initiatives by SGX to strengthen governance among listed companies. SGX launched a series of programmes and initiatives, such as the online investors’ guide to reading annual reports and preparing for AGMs to educate investors. There was also a popular series of webclips on reading IPO prospectus.

Adapted from Futures Magazine.

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