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SGX
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SmallSmall
Supreme |
27-May-2020 13:03
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Buy for rebound :) | ||||
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smltimer
Senior |
27-May-2020 08:37
Yells: "So what does the crystal ball say ......." |
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Trading halt?? | ||||
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Joelton
Supreme |
21-May-2020 09:59
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Quarterly reporting has ended but top SGX-listed firms provide voluntary ' updates'THU, MAY 21, 2020 - 5:50 AM COMPANIES that place their profit and loss statement ahead of their balance sheet in their annual reports are focused on growth, while companies that do the opposite are more concerned about resilience. That old and obscure piece of market folklore is probably complete nonsense. Yet, the underlying point - that companies reveal their true nature in what they choose to hide and highlight - might have some merit. Since February, Singapore Exchange-listed companies no longer have to do quarterly reporting, unless they do not have a clean audit opinion or face regulatory compliance issues. The timing could not have been worse, given the Covid-19 pandemic. Fortunately, many leading SGX-listed companies have chosen to continue engaging the market with quarterly " business updates" . And some of these updates appear to be good substitutes for full financial reports. In particular, the three banks - DBS, OCBC and UOB - each published Q1 2020 updates that were much more concise than their traditional quarterly financial reports, but still covered most things relevant to investors. Their abridged income statements and balance sheets were informative, and they highlighted the key metrics that investors closely watch, from loan growth and net interest margins to return on equity and capital adequacy ratios. Recognising concerns in the market about rising bad loans, the three banks also provided information on their exposure to potentially troubled industries - especially to the oil and gas sector. Interestingly, UOB also provided information on its exposure to Greater China. While all three banks made reference to their digital capabilities helping to facilitate business in the midst of the Covid-19 crisis, it seemed to be an especially big deal at DBS. The banks also summarised support they extended to their customers, staff and communities in the face of the pandemic, with UOB choosing to address the topic early in its presentation deck. Room for improvement However, there is room for improvement with some of the quarterly updates. Singapore' s two leading home-grown property development groups - CapitaLand and City Developments (CDL) - rolled out Q1 2020 updates that were brimming with information on the impact of Covid-19 on their various investment properties and development projects. CDL offered information on the operational status of its hotels around the world, including room occupancy and average room rates by country. CapitaLand included charts on shopper traffic at its malls in Singapore and China, and data on its residential sales data around the region. Yet, small-time investors looking for a quick top-down sense of what it all means for shares of these companies would probably have been left frustrated. Neither company provided an income statement with revenue or earnings figures. And only CapitaLand provided a net asset value per share figure. This seems a strange omission given the information that the companies did provide. Both companies included information on their balance sheet strength, including interest cover ratios, which would have required items from their income statement like Ebitda (or earnings before interest, tax, depreciation and amortisation) in order to be calculated. Would their Q1 updates have been much more difficult or expensive to produce if they included abridged balance sheets and profit and loss statements? Why withhold information useful to investors if it can be easily provided? Similarly, some of the leading real estate investment trusts (Reits) - Ascendas Reit and Manulife US Reit - provided lots of information on their properties, their tenants, and their balance sheets. Ascendas Reit even provided its NAV per unit as at March 30. But neither Reit provided an income statement, with information like revenue, net property income or distributable income, which would have given small-time investors a better sense of how to value their units. Leadership opportunity Many leading locally listed companies were doing quarterly reporting long before the practice was made compulsory in 2003 for companies with market capitalisations above S$75 million. And some of them evidently recognise the risks of now suddenly denying investors information they have long relied upon. CapitaLand Mall Trust and CapitaLand Commercial Trust both stated in February that, unlike the other units of the CapitaLand group, they would continue with quarterly reporting in the light of their proposed merger. Keppel Corp said in March that it would continue with quarterly reporting in view of the voluntary pre-conditional partial offer by a unit of Temasek Holdings that was announced in October. It will subsequently move to half-yearly reporting, and provide interim business updates in between the half-year reports. SGX has couched the retreat from quarterly reporting as a shift from a size-based approach to financial reporting to a risk-based approach, pointing out that it is now only companies with audit or regulatory concerns that have to report quarterly. Yet, it is also an opportunity for the biggest locally listed companies that understand the importance of quarterly reporting to now experiment with alternative formats of providing investors with useful financial and non-financial information. They should seek feedback from the market on what information would be most useful, and not begin from the assumption that there should be less financial information in their Q1 and Q3 updates than their half-yearly reports if the marginal cost of providing the extra information is negligible. The reward for a company that makes the effort could be greater awareness in the market of its values and value, and shareholder expectations that are more in sync with its own long-term goals. https://www.businesstimes.com.sg/companies-markets/quarterly-reporting-has-ended-but-top-sgx-listed-firms-provide-voluntary-updates |
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Joelton
Supreme |
19-May-2020 09:45
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SGX RegCo reviews Universal Resource&rsquo s special-auditor report for rule breachesMON, MAY 18, 2020 - 9:08 PM THE Singapore Exchange Regulation (SGX RegCo) is reviewing findings by Moore Stephens, the special auditors of Universal Resource and Services, concerning irregularities in the cash and bank balances of the company&rsquo s Chinese subsidiary, Sky Petroleum Technology Development (Tianjin). In its report, Moore Stephens had highlighted material discrepancies between Sky Tianjin&rsquo s bank statements based on its records maintained in Singapore, and its bank statements extracted by Moore Stephens from the relevant banks in China. The auditors' findings indicate that the company and its management had questionable corporate governance practices and poor accounting practices, SGX RegCo said. Within the company&rsquo s internal controls, necessary checks and balances to guard against the concentration of power by a single individual also appear to be lacking. This resulted in a failure to ensure the accuracy and veracity of the company&rsquo s financial records over a significant period. Consequently, multiple false disclosures may have been made to the investing public under a systemic scheme of deceit perpetrated from within, it added. For instance, Sky Tianjin&rsquo s bank statements did not reflect any use of funds as payment for the consideration of three acquisitions it supposedly undertook, going by corporate announcements in 2014 and 2015. Based on the findings, these acquisitions were fictitious and inappropriately accounted for in the group&rsquo s consolidated financial statements. The group&rsquo s consolidated financial statements also did not disclose that Sky Tianjin had pledged 310 million yuan (S$63 million) and 90 million yuan in fixed deposits with Ping An Bank in June 2014 and January 2015 respectively, as security for loans taken by the company&rsquo s former 46.55-per-cent unit, Wenling Xinghai Ocean Shipping Co. Furthermore, the group did not have a robust and effective system of internal controls in respect of the custody and application of its common seal, legal representative seals and finance seals. SGX RegCo said: &ldquo The alleged corporate malfeasance, the substantial amounts involved and the period of time over which these suspected wrongdoings occurred and remained undetected - all of these point to possible non-compliance with many parts of our listing rules.&rdquo They may even contravene the law, it said. It added that it expects listed issuers to establish proper checks and balances to ensure the veracity of financial records and the factual accuracy of disclosures on SGXNet, as well as to guard against irregularities or fraud. If necessary, SGX RegCo will take disciplinary action and refer the matter to the relevant authorities, it said. https://www.businesstimes.com.sg/companies-markets/sgx-regco-reviews-universal-resource%E2%80%99s-special-auditor-report-for-rule-breaches |
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rexaze
Member |
12-May-2020 18:20
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steady for sgx though will be expecting to have another downturn to March low in few months time. just something to take note.
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trademaster
Supreme |
12-May-2020 13:50
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Target hit :)
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Joelton
Supreme |
12-May-2020 11:01
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Market turnover value of ETFs more than doubles to S$469m in April: SGXMON, MAY 11, 2020 - 2:49 PM THE market turnover value of exchange-traded funds (ETFs) on the Singapore bourse surged to S$469 million last month, up 140 per cent from the year-ago period, on the back of strong investment interest and capital inflow to Asia. Meanwhile, the total securities market turnover value rose 35 per cent on the year to S$29.6 billion in April, while the securities daily average value, or SDAV, grew by 35 per cent to S$1.41 billion, according to the Singapore Exchange&rsquo s (SGX) latest monthly market statistics report. &ldquo Global equities stabilised on early signs of market optimism, following the intense volatility in the first quarter,&rdquo SGX said on Monday. The traded volume of equity index futures on the SGX fell 25 per cent from a year ago to 12.3 million contracts in April. &ldquo The anticipated gradual reopening of the Chinese economy and optimism for more economic stimulus eased portfolio-hedging activity,&rdquo the bourse operator said. Last month, China became the first major economy to exit its coronavirus lockdown, even as it announced a contraction in its gross domestic product for the first quarter of the year. SGX Nifty 50 Index Futures&rsquo traded volume gained 24 per cent to 1.9 million contracts, while the SGX Nikkei 224 Index Futures climbed 18 per cent to nearly 1.8 million contracts. &ldquo Significantly, for the benchmark Japanese contract, volume surged 60 per cent year on year in the T+1 overnight session, underscoring demand for continuous price formation and round-the-clock risk management from investors in the US and European time zones,&rdquo SGX noted. As for foreign exchange (FX) futures, demand for currency risk management continued to grow. The total volume of FX futures that changed hands on the exchange increased by 13 per cent year on year to 1.7 million contracts in April. Volume traded for SGX&rsquo s USD/CNH (US dollar and offshore Chinese yuan) futures rose 14 per cent to 679,239 contracts, while month-end open interest jumped 57 per cent on the year to a notional US$6.27 billion. &ldquo Market participants noted an uptick in geopolitical tensions between China and the US, which in January signed what was billed as the first phase of a broader trade deal,&rdquo the bourse operator said. SGX&rsquo s INR/USD (Indian rupee and US dollar) futures saw their total traded volume increase by 9 per cent on the year to 980,379 contracts last month, despite reduced volatility in India&rsquo s currency as the government extended a nationwide lockdown. In commodities, disruptions in the physical market - particularly in global supply chains - continued to drive demand for risk-management solutions, although trading volumes moderated off the highs of March. The total commodity derivatives volume on SGX shrank by 9 per cent from the year-ago period to 1.7 million contracts in April, with the exchange&rsquo s bellwether iron ore derivatives declining 8 per cent to about 1.5 million contracts and Singapore Commodity Exchange rubber futures tumbling 17 per cent to 149,963 contracts. During the month, prices of West Texas Intermediate crude futures sank below zero for the first time, fuelling volatility across the energy complex and downstream petrochemical markets. SGX&rsquo s petrochemicals volumes were up 8 per cent in April to 2,492 contracts. Meanwhile, open interest in paraxylene and benzene derivatives, as well as coking coal futures and freight options, climbed to record highs, which indicates higher demand for price risk management, SGX said. Shares of SGX were up S$0.12 or 1.2 per cent to trade at S$9.93 as at 2.23pm on Monday. https://www.businesstimes.com.sg/companies-markets/market-turnover-value-of-etfs-more-than-doubles-to-s469m-in-april-sgx |
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Joelton
Supreme |
12-May-2020 10:21
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SGX RegCo to scrap minimum trading price rule on June 1SGX RegCo, the regulatory arm of Singapore Exchange, said it will scrap the requirement for companies to maintain a minimum trading price (MTP) on June 1. The MTP rule was adopted in 2016 to deter share price manipulation. It states that a mainboard-listed company must maintain a six-month volume-weighted average share price of 20 cents and a six-month average daily market capitalisation of at least $40 million. Companies that do not fulfil those criteria go on a watch list and are given three years to raise their share price and market cap, or face delisting. SGX RegCo now believes the rule is not required since implementation of a series of other tools - including the enhanced Trade with Caution alerts and Members' Surveillance Dashboard - has reduced the risk of manipulation. " The shares of most of the issuers in the MTP watch list have not been found to be manipulated. Yet these issuers are subject to risk of a delisting as a result of the MTP rule. Issuers on the MTP watch list have also faced challenges in borrowing from banks and developing business relationships," SGX RegCo said in a statement yesterday. The proposal to scrap the MTP was put up for public consultation late last year and SGX RegCo said it received broad support from market participants. The MTP watch list will cease to exist on June 1 and mainboard-listed companies on the list will no longer need to satisfy the exit criteria and apply for removal from the MTP watch list, it said. A spokesman for the Monetary Authority of Singapore (MAS) said the central bank supports SGX RegCo' s decision to remove the MTP requirement. " MAS and SGX RegCo have taken a more pre-emptive and targeted approach to address the risk of market manipulation," the spokesman said in an e-mail sent yesterday. Several measures have been introduced in the past few years to address the risk, including trading restrictions on accounts involved in unusual activities in a stock and issuing alerts to the investing public to trade in certain stocks with caution, MAS said. The Members' Surveillance Dashboard can now also alert SGX members to potential market misconduct relating to a member' s trades. In addition, SGX Trade Surveillance Handbooks and the MAS-SGX Trade Surveillance Practice Guide provide guidance to help brokerage firms improve their capabilities to detect and curb undesirable trading behaviours and disrupt potential market abuse as early as possible, MAS said. " MAS and SGX RegCo have also stepped up enforcement actions against market manipulation, and continue to work closely to enhance our toolkit to detect and deter market manipulation," the MAS spokesman said. https://www.straitstimes.com/business/companies-markets/sgx-regco-to-scrap-minimum-trading-price-rule-on-june-1 |
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Joelton
Supreme |
07-May-2020 12:10
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MAS, SIC, SGX RegCo to allow electronic rights issue and take-over documentsWED, MAY 06, 2020 - 7:42 PM THE Monetary Authority of Singapore, the Securities Industry Council and the Singapore Exchange Regulation today introduced measures that allow companies to temporarily do away with hardcopy offer documents for rights issues and take-over or merger transactions. With immediate effect and... https://www.businesstimes.com.sg/companies-markets/mas-sic-sgx-regco-to-allow-electronic-rights-issue-and-take-over-documents |
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rexaze
Member |
06-May-2020 09:52
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today' s target $9.8 , then $10!! goodluck | ||||
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Joelton
Supreme |
05-May-2020 09:28
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Shareholders should be updated on key milestones in general offer: SGX RegCo TUE, MAY 05, 2020 - 5:50 AM IN A general offer, shareholders should be kept updated via SGXNET when the offeror has achieved the 75 per cent acceptance condition, and when the issuer has lost free float, chief executive of the Singapore Exchange Regulation (SGX RegCo) Tan Boon Gin said in his latest... https://www.businesstimes.com.sg/companies-markets/shareholders-should-be-updated-on-key-milestones-in-general-offer-sgx-regco |
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Joelton
Supreme |
29-Apr-2020 10:14
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SGX announces two separate tie-ups for markets collaboration, Reit portfolioWED, APR 29, 2020 - 5:50 AM Singapore THE Singapore Exchange (SGX) on Tuesday announced two separate tie-ups - one with China securities firm Citic Securities and the other with digital wealth management company Syfe. The strategic collaboration with Citic Securities covers multiple areas including fixed... https://www.businesstimes.com.sg/companies-markets/sgx-announces-two-separate-tie-ups-for-markets-collaboration-reit-portfolio |
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Joelton
Supreme |
25-Apr-2020 12:28
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SGX Q3 net profit rises 38% on higher revenue from all three businessesFRI, APR 24, 2020 - 8:43 AMBOURSE operator SGX on Friday posted a 38 per cent rise in net profit to S$137.5 million for its third quarter ended March 31, from S$99.7 million a year ago. This was mainly due to revenue increases across all three of its businesses: equities fixed income, currencies and commodities and data, connectivity and indices, it said in a regulatory filing. Earnings per share stood at 12.8 Singapore cents for the quarter, up from 9.3 cents a year ago. Revenue for Q3 rose 29 per cent to S$295.8 million, from S$228.8 million in the year-ago period. An interim cash dividend of 7.5 Singapore cents per share has been declared for the quarter, the same as a year ago. The dividend will be paid on May 13. SGX chief executive Loh Boon Chye said trading activity outside of Asian trading hours by the bourse' s US and European clients had grown to 20 per cent of total derivatives volumes. " Amid the Covid-19 pandemic, our priority is to keep SGX' s markets relevant, resilient and fully accessible round-the-clock, to serve the heightened demand from market participants for risk management solutions and investment opportunities across our asset classes," he added. Mr Loh also said that the bourse operator would be adopting half-yearly financial reporting from July 1. Dividends will continue to be paid on a quarterly basis. SGX shares ended at S$10.16 on Thursday, down S$0.23 or 2.2 per cent. https://www.businesstimes.com.sg/companies-markets/sgx-q3-net-profit-rises-38-on-higher-revenue-from-all-three-businesses |
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satruz
Master |
24-Apr-2020 19:05
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Tks bro.... agree that this is better than the bank stocks, at least for now 😀
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spec008
Veteran |
24-Apr-2020 18:33
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Bro already up so much from 8 plus to 10 plus.... because people
Speculate on the results...BUY ON RUMOURS....then result come out
As expected very good.....SELL ON NEWS...this is how share mkt works
Compare to ocbc....dbs....etc etc...over last 2 months
SGX IS CHAMPION....
PLEASE NOTE this one not for contra...need to hold...but
Please do your own study and research i also NOT GURU😀 😀 😀
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satruz
Master |
24-Apr-2020 16:41
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But not recovering well from today' s drop leh
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spec008
Veteran |
24-Apr-2020 15:00
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This baby is the champion of blue chips....share market just like fish market always
Got business to do....sure huat one...
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spec008
Veteran |
24-Apr-2020 10:29
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4d toto soccer gambling and CASINO SHUT DOWN....
WHAT ELSE IN WORLD TO PLAY.....SHARES
all stuck at home cannot go out...
WHAT ELSE IN WORLD TO PLAY.... SHARES
HUAT TO SGX ....vested
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lighter87
Master |
24-Apr-2020 10:03
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bb system error? it should recover later, sgx is only going to go up when everday business so good
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uiop1223
Supreme |
24-Apr-2020 09:32
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What happen? How come drop so much today? | ||||
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