Tag Archive | "SGX"

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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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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Symbol Bid Ask Spread
EURUSD 1.22940 1.22960 2
GBPUSD 1.39800 1.39830 3
USDCAD 1.26860 1.26890 3
USDJPY 106.830 106.850 2
USDCHF 0.93620 0.93650 3
AUDUSD 0.78080 0.78110 3
NZDUSD 0.72750 0.72800 5
EURGBP 0.87920 0.87950 3
EURCHF 1.15110 1.15140 3
EURJPY 131.340 131.370 3
AUDJPY 83.420 83.470 5
GBPJPY 149.350 149.410 6
XAUUSD 1328.64 1329.04 40
XAGUSD 16.535 16.585 5