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Singapore brokers will announce and explain decisions to impose trading restrictions beginning Dec 31, the Securities Association of Singapore (SAS) announced on Tuesday.

Mainboard-listed Matex International, a manufacturer and supplier of speciality chemicals for the textile industry, has entered into a heads of agreement with Australian-listed coal producer, Blackgold International Holdings, in relation to the proposed acquisition of its wholly owned subsidiary, Blackgold Holdings Hong Kong, for a consideration sum of S$475 million.

Shares of the seven listed firms linked to the family of Ling Jihua fell yesterday as probes into the top aide to former president Hu Jintao prompted investors to cash out amid fears of a further slide.

An investigation into stock market manipulation in China is spurring concern of further losses for shares of smaller companies after a benchmark gauge plunged by the most in a year.

Memstar Technology - a cash company after selling its membrane manufacturing business to United Envirotech - has entered into a US$420 million reverse takeover deal with the owners of Longmen Group, a China-based developer of unconventional natural gas.

SGX’s daily Marking of Sell Orders report commendable; but more can be done to enhance its usefulness

Given the positive outlook for coal in Asia, those with an appetite for risk and deep pockets may get some bargains among the flurry of asset sales

Number of Chinese stocks bought with loaned money doubles in six months to 881b yuan

Buyer says acquisition allows it to invest in highly prospective mineral mining business

The Singapore Exchange (SGX) has taken a fair amount of criticism for the way trading has deteriorated over the past year since the penny crash of October 2013, a situation not helped by two high-profile computer glitches in the past five weeks.

Asia-Pacific Strategic Investments has picked up a stake in LionGold’s former Amayapampa Gold Project in Bolivia.

It’s a worrying situation that encapsulates the new “normal” the local stock market finds itself in.

Saying "sorry" is not good enough. What we need now is a thorough investigation - maybe even an independent committee formed to review the embarrassing incidents.

It would be somewhat unkind to conclude that this week’s market stoppage - the second in a month and third this year - is simply another dismal chapter for a market in malaise. But there is no denying that something is amiss. The numbers don’t lie.

Singapore Exchange (SGX) chief executive Magnus Bocker came out swinging at an hour- long press conference yesterday, explaining in painstaking detail what happened in the bourse operator’s latest “incident”, what it plans to do next, addressing whether he would step down from his job and apologising for good measure.

The apology and explicit acceptance of responsibility from Singapore Exchange (SGX) chief executive Magnus Bocker for Wednesday’s computer system breakdown was the first indication in many months that SGX is willing to concede that things are not at all right with many aspects of its business.

Software defect prompts SGX to delay market opening by 3-1/2 hours while market mulls the hit to confidence in and reputation of the exchange

Supplier of piping system components to the energy and marine sectors, mainboard-listed CosmoSteel Holdings on Monday announced it has entered into a subscription agreement with Tokyo-listed Japanese steel trader Hanwa to raise S$15.3 million.

We refer to the article by R Sivanithy, “Reinvent rules for remisiers” (BT, Nov 18).

Yuuzoo Corporation has signed a deal with Etisalat to bring its social e-commerce model to Nigeria, said YuuZoo on Wednesday evening, shortly after requesting a trading halt.

Mainboard-listed Sino Construction announced on Friday that operations at its Mongolian mine Baruun Noyon Uul (BNU) will recommence, following what it described as the “successful completion” of its first trial batches of coal.

Reuters

SGX’s update comes on the heels of the launch of the Shanghai-Hong Kong stock-trading link

Analysts cite continuing overcapacity; longer term demand hinges on India and China

Seizing opportunities in the bear market, Singapore mainboard-listed Sino Construction has been aggressively acquiring coal assets and is now on the hunt for more.

Link

As international investors get new access to the mainland market, its indifference to global events is partly why its equities are so attractive

Trade skewed heavily towards the northbound flow on the debut of the through train scheme as foreigners pile into railway and liquor plays

The Securities Investors Association of Singapore (SIAS) has hit one nail on the head with its call to revamp the way that remisiers, or retail trading representatives (TRs), are paid.

The Business Times used the Bloomberg machine to dig up companies trading at extreme financial ratios on the Shanghai Stock Exchange that investors could buy on Monday. Here is what we found.

Even non-investors can glean insights from the financial statements of the A-Share “small-caps”. Time to brush up on your Chinese and separate the wheat from the chaff

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I refer to Jimmy Ho’s letter, “It’s not a ‘quality market’ for investors” (BT, Nov 12). We appreciate Mr Ho’s feedback, but do not agree with his depiction of the Singapore stock market as suffering from a “malaise”.

Some analysts say trading tie-up will put pressure on SGX but most of them think impact may not be pronounced

The market was once again reminded of the shattered financials of the firms embroiled in last October’s penny stock crash with LionGold releasing its much-delayed first quarter results with an injurious outing, just one day after its counterpart Blumont reported dismal quarterly digits.

Vallianz Holdings reported on Friday that its net profit more than doubled to US$4.82 million for the third quarter ended Sept 30, 2014, compared to US$2.14 million a year ago. Earnings per share was 0.19 US cent, compared to 0.18 US cent a year ago.

A recent scoping study on its gold mine project in Ghana-Konongo Project - owned by Australian-listed Signature Metals - has come up with some “encouraging conclusions” after discovering that the area has “reasonable prospects of economic extraction”.

As it looks to boost membership count, association believes some firms afraid to offend SGX

October option deal includes chairman selling some shares at eight Singapore cents apiece

The SGX’s own figures tell a dismal story.

Delays in a fund-raising exercise - due to the surprise visit by the Commercial Affairs Department - had caused LionGold Corp to be unable to assess the impairment of the value of an asset in time.

Former Sembcorp Marine group finance director Wee Sing Guan pleaded guilty on Wednesday to a host of fraud charges relating to currency bets he took years ago that cost the group US$303 million in losses.

LionGold, which has failed to get a clean bill of health from auditors PwC for its latest full-year financial results, has sought to assure shareholders that it is able to obtain sufficient funding for its operations.

Singapore Exchange (SGX) chief regulatory officer Richard Teng has resigned, less than a year after being promoted, to become chief executive of the regulator of Abu Dhabi Global Market (ADGM).

Since early October, the Singapore Exchange (SGX) has been pushing out more initiatives to engage brokers to “give them a reason to start calling their clients”

Board chiefs lament ‘events that altered things considerably’ after FY2013

For much of this year, it has been fashionable to heap blame on Singapore Exchange (SGX) for the local stock market’s twin woes of poor liquidity and low volatility.

BBC Link

Mainboard-listed Sino Grandness Food Industry Group on Thursday refuted claims made about the company’s health in a report that was circulated on the internet.

Average net commission on the decline, slumping to about S$1,000 from around S$6,000 to S$8,000 a decade ago

CEO Magnus Bocker and head of sales and clients Chew Sutat point to integrity of the market and the ease of raising capital

Mainboard-listed Sino Grandness Food Industry Group, a food-and-beverage company based in Shenzhen, China, issued a business update on Thursday to counter a Sept 4 report containing negative statements on the sales and financial position of the group.

It has been nearly three long years since trading in the shares of China Sky Chemical Fibres was suspended. But the company’s shareholders continue to suffer from their inability to deal in its stock despite pleas by the company to restore trading.

Mainland developers’ plans to float themselves in the city dim hopes for massive asset injections

SGX’s head of surveillance regulation talks about one of the most exciting days of his 14-year career and what keeps him motivated at the Exchange

It is 15 months since the Singapore Exchange’s (SGX) most recent research initiative known as SERI ended in June last year. According to the exchange’s website, it is still “reviewing all options to enhance the level and type of research coverage for its listed companies”.

Ong Chow Hong, one of four former directors of Airocean Group who were charged and convicted over what was then deemed a misleading statement by the company, has had his five-year conviction overturned.

Valuetronics shares tumbled on Wednesday on worries that the company could lose its LED lighting business as a major customer, a Dutch conglomerate, announced its intention to restructure its own lighting business division.

Noble Group, which on Wednesday said it has received US$3.36 billion due to it, has had its ratings affirmed at BBB- by Fitch Ratings.

The response focuses on two proposed regulatory changes - the Minimum Trading Price of 20 cents and the Enforcement Frameworks that MAS and SGX first proposed in February this year.

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Investors are rethinking their exposure to emerging markets, focusing on countries likely to weather lean times with manufacturing exports to the United States while avoiding those that have thrived on sending commodities to a now slowing China. Reuters

The stock of electronics company Valuetronics Holdings on Tuesday collapsed six cents, or 15.8 per cent, to 32 Singapore cents on heavy volume of 26.3 million shares, an apparent casualty of concerns over its future earnings.

Major shareholders in more than 500 A-share companies have sold 37.4 billion yuan of shares since September 1

The Court of Appeal has upheld an order to freeze the assets of six individuals and two companies with exposure to the three listed companies in Singapore, which shook the stock market there last year. Link

There are more than 30 stocks listed on SGX with a market capitalisation above S$250 million that reported more than half their revenue or assets in China in the last financial year. Link

1) Raise cash 2) Keep positions light 3) Keep a watch list 4) Protect your confidence Joe Fahmy

Aa issue over the going-concern status of forestry and pulp firm United Fiber System (UniFiber), as well as its failure to provide for default interest, led the company’s auditor to refrain from expressing an opinion on its consolidated financial statements for the six months ended June 30, 2014.

Shares in offshore oil and gas stock Ezion Holdings plunged nine cents or 5.4 per cent to S$1.575, bringing its loss over the past three weeks to almost 18 per cent and taking it closer to its 52-year low of S$1.52.

Beijing is in talks with Singapore and Britain to let mainland investors buy equities in these markets, a move seen as the next stage of China’s opening up of the capital account and globalising the yuan as the Shanghai-Hong Kong stock connect scheme readies to start.

Fingers were pointed at Soh Chee Wen when Asiasons, Blumont and LionGold soared last year before collapsing on Oct 4. As the anniversary of the crash approaches, CAD and MAS might be getting closer to discovering what happened. Note: Some events in this article has been proven to be false. The Edge has acknowledged some of the false information. Blumont Group had commenced legal proceedings against The Edge for libel.

China, the world's top coal importer, will levy import tariffs on the commodity after nearly a decade, in its latest bid to prop up ailing domestic miners who have been buffeted by rising costs and tumbling prices. Reuters China coal tariff sends message to cut supply

Market is still confounded over what had triggered the meltdown and has yet to recover from the assault The Pounding of the Pennies

The Small and Middle Capitalisation Companies Association (SMCCA) has 22 founding members, including relatively high-profile firms such as Otto Marine, Q&M Dental Group and Cordlife Group.

Luxury boat maker Grand Banks Yachts is off the Singapore Exchange’s (SGX) watch-list from Thursday, marking a turnaround for the hitherto troubled firm which entered the list in 2011.

Legal wrangling over the ownership of a subsidiary has made it difficult for the auditors of Magnus Energy to determine the accuracy of certain parts of its financial statements.

Jury is still out on why SGX stock prices move before M&A deals are made public

Questions also remain as to how $8b was wiped out in such a short time

Fifteen years ago, a minority-investor rights group called the Securities Investors Association of Singapore (Sias) was born out of the cross-border debacle known as the Clob saga.

Fruition of Rexonic’s commercialisation plans, says Rex chairman

Mainboard-listed Sino Grandness Food Industry Group announced on Thursday that Thai conglomerates Thoresen Thai Agencies (TTA) and PM Group will take stakes of 9 per cent and 3.77 per cent respectively in the company through a private placement of newly issued shares.

James Hong, assisting probe into penny stock crash, owes bank $3m

CIC sold 300m shares at S$1.32 each; not known who buyer was

The Blumont Group has launched a libel suit against the publisher and editor of The Edge Singapore over an article on last October’s penny stock crash. Blumont told the Singapore Exchange (SGX) on Monday that it is seeking damages from The Edge Publishing and editor Benjamin Paul, and an injunction to stop the magazine from publishing similar claims made in the original article.

Japanese day trader plays Tokyo stock market from his bedroom, one of many individuals who have been pushing up local stocks higher

Trading tech vendor says settlement will be devolved to individual broking firms

Mainboard-listed Sino Construction Ltd intends to make an off-market takeover bid to acquire Australian-listed Guildford Coal (GUF).

Singapore Exchange (SGX) chief executive Magnus Bocker has pledged his commitment to eventually do away with board lots, and has spoken up for retail participation and sustainability as he outlined strategies to address lacklustre markets.

Singapore Exchange (SGX) is forecasting an end to a two-year hiatus for Chinese listings after regulators made it easier for companies from Asia’s biggest economy to sell shares in the city-state.

Short-sellers who profit from stock price declines have resumed targeting Chinese companies after a three-year lull, but many of the researchers who instigate the strategy are now cloaked in anonymity, shielding themselves from angry companies and Beijing’s counter-investigations.

Link

Vendors of combined 29.5% stake include David Lum and Raymond Lum

The Singapore Exchange’s (SGX) plan to boost its disciplinary powers to improve the quality of the market is long overdue - coming as it did after debacles such as the penny-stock collapse last year.

It also seeks more disciplinary powers and proposes industry-led committees SGX Link 1 SGX Link 2

A recent report from Greenpeace has found that China’s coal consumption declined in the first half of this year and new Chinese government data suggests that the country’s coal imports have dropped. Estimates indicate that by the end of the year, China’s coal imports could be 8 per cent below 2013 levels.

Earlier this year, a listed company here embarked on a non-underwritten rights issue to raise money for investment and working capital and, presumably to enhance the attractiveness of the offer, its announcements on the rights issue highlighted the fact that the company’s substantial shareholder had given an “irrevocable” undertaking to fully subscribe to its portion.

SGX says it will proceed to set a minimum trading price of 20 cents for mainboard-listed stocks given strong public support for the requirement, in a move aimed at curbing excessive speculation and potential manipulation.

Link

China Cosco Holdings has signed a landmark deal with Brazilian miner Vale for the transport of iron ore and the purchase of 14 very large ore carriers, which have been barred from entering mainland ports since early 2012.

A criminal case against Citic Pacific directors who oversaw huge losses would be far harder for the authorities to pursue than civil action

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Through train fails to impress some mainlanders, who say they are unfamiliar with local regulations and are put off by higher share prices

Eratat Lifestyle said on Friday that it has requested for more details on the investigations led by the China Banking Regulatory Commission (CBRC), which last month found a forged bank confirmation linked to the company’s subsidiary.

Blumont Group now holds a 43.08 per cent stake in privately held uranium miner Azarga Resources after converting US$19.1 million worth of convertible notes.

Blumont Group on Thursday said that its all-share bid for all of Australia-listed miner Genesis Resources has been extended because it is missing information from Genesis needed to produce a shareholder circular.

US judge’s move to sanction lawyers for their ‘reckless and frivolous’ claims against Pacific Bepure eases concern over securities litigation

Top fund manager says investors are underestimating growth prospects

And the best jokes are the financial figures of many mainland private enterprises, and the fact that some investors actually believe them.

When looking at ways to enhance disclosures in the Singapore stock market, it is often instructive to study practices in other stock exchanges to see if any can be adopted for the local bourse. One useful suggestion came from a BT reader a fortnight ago.

Shares of Fung Choi Media Group took a battering for a second straight session yesterday on speculation over the integrity of its accounts.

LionGold Corp has delayed a planned acquisition of Australian gold mining and exploration assets for a second time, with the new deadline pushed to the close of Sept 30.