The following companies may have unusual price changes in trading today, say Bloomberg and Thomson Reuters. Share prices are from the previous close. Singapore’s Straits Times Index was little changed at 2,912.02.
Asian stocks are expected to open higher today, as European shares gained on the back of higher commodity prices, with trade to be thinned by a US holiday that kept Wall Street closed last night.
Singapore Exchange, the operator of the city-state’s securities and derivatives markets, said second-quarter net income fell 3.9% even as trading volumes rebounded.
Net income totaled $71.8 million, or 6.7 cents a share, in the three months ended in December, down from $74.7 million, or 6.97 cents, a year earlier, the company said in a statement. Operating revenue climbed 2.7% from a year before to $150.7 million. Shares worth $1.37 billion traded daily on average in the second quarter, compared with $1.07 billion a year earlier, according to data compiled by Bloomberg.
Singapore Exchange (SGX) today announced a net profit of $165.8 million for the first half of its financial year 2010.
Excluding non-recurring items, net profit was 7% higher compared to 1H FY2009 ($159.2 million).
In the second quarter of the financial year 2010, excluding the non-recurring items, net profit of $77 million was 3% higher than a year ago. Operating revenue increased 6% to $324.0 million (1H FY2009: $304.9 million).
Singapore Exchange today introduced changes to SGXNet announcement templates as part of its ongoing efforts in fostering a transparent and well-informed marketplace.
SGX says this is to assist investors in retrieving information crucial to their investment decisions and to increase the level of disclosure by issuers. These changes, which will be effective from Jan 10, comprise four new information categories and revisions to two existing announcement categories.
RSH Limited says the Singapore Exchange had on Dec 10 granted an extension of time of up to Dec 31 to restore the public float requirement under Rule 725 of the Listing Manual.
Under Rule 723, an SGX-listed company must ensure that at least 10% of the total number of issued shares (excluding treasury shares) that is listed is at all times held by the public.
Singapore Exchange is inviting public comments and feedback on proposed new measures to strengthen the practices of corporate governance, and rule amendments to foster greater disclosure. Some of the proposed amendments in the consult include:
The following companies may have unusual price changes in Singapore trading today, say Bloomeberg and Thomson Reuters. Stock prices are from the previous close. Singapore’s Straits Times Index fell 0.3% to 2,797.21. US stocks ended higher last night as the US dollar fell and investor’ appetite for risk returned, lifting shares of financial, technology and natural resource companies.
Bulk carriers: The Baltic Dry Index, which measures the cost of shipping commodities, dropped 2.8% in London yesterday, taking losses in the past three days to 7.7%.
Cosco Corp. Singapore (COS SP), a China-based shipbuilder that also operates bulk carriers, was unchanged at $1.08. Mercator Lines Singapore (MRLN SP), an Indian bulk carrier, was unchanged at 31 cents. STX Pan Ocean Co. (STX SP), South Korea’s biggest bulk carrier, rose 1.2% to $13.78.
Singapore Exchange (SGX) has successfully launched its new clearing system, SGXClear, on Dec 7.
The new clearing system, which is powered by Nasdaq OMX technology, has enhanced capabilities in terms of speed and functionality, and increased capacity to support significant growth in the derivatives business. This platform will also help SGX to clear more complex and diverse products.
Singapore Exchange will make the compulsory the marking of all short-selling orders in the first half of 2010 to increase market transparency.
SGX says it has provided the technical specifications to its members to facilitate this effort.
In addition, statistics of aggregate short-selling activity for each individual security will be published daily.
Singapore Exchange (SGX) has released a progress report on the transition by Catalist Non-Sponsored (NS) companies to the sponsor-supervised regime. Under this regime, companies are required to appoint a sponsor by Feb 5, 2010.
At the launch of Catalist on Feb 5, 2008, there were 154 companies listed. Out of these, 87 companies have now appointed a sponsor, 32 of them have transferred to the Mainboard while six companies were delisted. The remaining 29 companies have not appointed a sponsor, says SGX.
Singapore Exchange (SGX), the Society of Remisiers (Singapore) (SRS) and the Securities Association of Singapore (SAS) today launched a programme to enhance the profile and development of the remisier profession.
The initiative aims to raise awareness about the key market role of remisiers, promote the highly specialised profession and raise professional competency levels across the industry. SGX Academy will support these efforts with advanced programmes in high-velocity trading and sales delivered by practicing experts, in line with the Monetary Authority of Singapore’s (MAS) strategic thrust of building a greater pool of highly-talented financial professionals.
Singapore Exchange (SGX) and Taiwan’s GreTai Securities Market (GTSM) today signed a Memorandum of Understanding (MOU) to co-operate towards the development of their respective capital markets.
The MOU aims to foster greater communication between both exchanges through areas such as staff exchange, training and the sharing of information related to market development.
Singapore Exchange (SGX) and Singapore Press Holdings (SPH) today signed an agreement to develop a free financial portal, targeted for launch in the second half of 2010.
The portal aims to provide the investing public integrated content from both SGX and SPH. In one website, users will be able to obtain SGX’s live market data, company announcements, research reports, regulatory news as well as SPH’s breaking news on companies and stock markets.
Singapore Exchange Limited (SGX) has announced improvements to its clearing and settlement system for securities traded on SGX, to reduce the incidences of non-delivery of securities and imposition of the attendant penalties. These improvements will take effect on Nov 6.
SGX says it has revised the cut-off time for delivery of securities to 12 noon on T+3 to allow buy-in to be conducted in the afternoon for non-delivered securities to enable market participants to meet their delivery obligations. Only securities that are not successfully bought-in by the end of T+3 will be deemed to have failed.
Singapore Exchange (SGX) and Singapore Commodity Exchange (SICOM), an SGX unit, will launch a SGX-SICOM clearing arrangement on Oct 1.
The clearing arrangement will provide SGX trading members direct trading access into SICOM’s commodity derivatives market by becoming an affiliated trader of SICOM. All SGX trading members are eligible to become an affiliated trader of SICOM and will not be required to meet further financial obligations under this arrangement.
SGX Mainboard-listed Hi-P International, the global integrated electro-mechanics manufacturing solution provider, posted a 36.9% y-o-y fall in revenue to $177.6 million for the 3 months ended June 30, 2009 (2Q09).
But Hi-P says the group’s production efficiency and cost control measures have improved over the year and as a result, gross profit decreased only 19.6% y-o-y to $40.5 million.
Mary Chia Holdings, the provider of beauty, facial, slimming, spa and massage services for women and men, says it is seeking a listing on Catalist and has lodged its IPO document with the SGX.
Mary Chia will issue 24,565,000 new shares at 23 cents each by way of placement to raise $3.9 million in net proceeds. PrimePartners Corporate Finance has been appointed the manager and sponsor of the IPO and DMG & Partners Securities is the placement agent of the IPO.
