Anshuman's Feed
Oct 27, 2013

Singapore’s penny stock mystery increases pressure on exchange

SINGAPORE (Reuters) – Singapore Exchange Ltd (SGXL.SI: Quote, Profile, Research, Stock Buzz)’s role as the city-state’s equity market regulator is coming under increasing scrutiny in the fall-out from a penny stock crash earlier this month.

The sudden implosion of Blumont Group Ltd (BLUM.SI: Quote, Profile, Research, Stock Buzz), LionGold Corp (LION.SI: Quote, Profile, Research, Stock Buzz), and Asiasons Capital Ltd (ASNS.SI: Quote, Profile, Research, Stock Buzz) – after huge run-ups in their share price earlier in the year had turned them briefly into billion dollar companies – left many in the market mystified and raised question marks over whether the exchange missed red flags and was too slow to act.

Oct 24, 2013

Singapore launches probe into penny stocks crash

SINGAPORE, Oct 24 (Reuters) – Singapore’s central bank and
stock market operator are conducting an extensive review of
recent share price volatility in three inter-linked Singapore
companies, which wiped out billions of dollars in combined
market value from the firms.

Singapore Exchange Ltd (SGX), which is both the
market operator and the regulator, suspended trading in shares
of Blumont Group Ltd, Asiasons Capital Ltd
and LionGold Corp Ltd on Oct. 4, after sharp declines
in their stock prices.

Oct 11, 2013

Del Monte Pacific buys U.S. canned food business for $1.7 bln

SINGAPORE, Oct 11 (Reuters) – Singapore-listed Del Monte
Pacific Ltd will buy the canned food business of
private equity-backed Del Monte Foods Consumer Products Inc for
$1.7 billion, gaining a direct presence in the key U.S. market
and reuniting a substantial portion of the Del Monte brand
family.

Shares in Del Monte Pacific surged 10 percent on the deal.

It said the acquisition will give it the No. 1 branded
position in major canned fruit and vegetable categories in the
United States as well as the opportunity to offer its some of
own products to the large and fast-growing Asian and Hispanic
populations there.

Oct 10, 2013

Grave digger to gold digger: Singapore business shifts feed governance worries

SINGAPORE, Oct 10 (Reuters) – A funeral parlour switches
into gold mining; a steel trader turns into a property
developer; and a food packaging firm ventures into resources.

Reverse takeovers and shifting corporate business strategies
on Singapore’s stock market have come under the spotlight in the
wake of a recent collapse in the share prices of three companies
listed on Southeast Asia’s biggest bourse.

Oct 4, 2013

Singapore bourse halts trading in three stocks after plunge

SINGAPORE, Oct 4 (Reuters) – The Singapore Exchange Ltd
suspended trading in three stocks on Friday, warning
the market may not be fully informed of the companies’ affairs
after a plunge in their share prices, with one falling more than
60 percent.

The bourse first halted trading in diversified company
Blumont Group Ltd, whose stock has risen as much as 12
fold this year, after it slumped 56 percent in morning trade. It
later suspended gold miner LionGold Corp Ltd and
investment company Asiasons Capital Ltd.

Oct 2, 2013

Coffee Bean plots Asia expansion, may consider IPO or strategic sale

SINGAPORE (Reuters) – The Coffee Bean & Tea Leaf, in which three private equity firms recently bought stakes, may consider an initial public offering or a strategic sale over the next few years as part of an exit strategy for investors, its CEO said.

The funding would allow the company to accelerate its growth plans in southern California and north Asia as it seeks to double its revenue from directly-owned and franchised-run stores in five years to a total of $1 billion, Mel Elias, also the president of the Los Angeles-based firm, told Reuters in an interview on Wednesday.

Sep 24, 2013

Singapore casinos trump Macau with tourism aces

SINGAPORE, Sept 24 (Reuters) – Casino operators and
regulators around Asia are watching Singapore’s two
multi-billion-dollar gaming resorts as they focus on tourists
and trade shows to boost revenue in response to restrictions on
gambling and a sluggish broader market.

The city-state has become a playground for Asia’s rich and
famous, with attractions ranging from fancy clubs and
restaurants helmed by Michelin-starred chefs to the world’s only
night-time Formula One race.

Sep 22, 2013

Third time lucky? Singapore Airlines sets sights on India

SINGAPORE (Reuters) – Almost 13 years after pulling the plug on its last attempt to enter the Indian market, Singapore Airlines Ltd (SIAL.SI: Quote, Profile, Research, Stock Buzz) is taking another stab at the country by again teaming up with the Tata Group as part of a broader strategic shift.

Last week, the two companies applied to set up a new New Delhi-based full-service carrier, pledging a combined $100 million to get it going. This follows an unsuccessful attempt to do the same in the mid-1990s and a failed attempt to buy state-owned Air India in 2000.

Sep 18, 2013

Asia business sentiment drops sharply in third quarter

SINGAPORE (Reuters) – Business sentiment among Asia’s top companies deteriorated in the third quarter, led by businesses in export engines such as China and South Korea, ending three consecutive quarters of improving sentiment, the latest Thomson Reuters/INSEAD Asia Business Sentiment survey showed.

The Thomson Reuters/INSEAD Asia Business Sentiment Index fell to 66 in the third quarter from 71 in the second quarter when it reached the highest level in more than a year. An index reading above 50 indicates an overall positive outlook.

Sep 18, 2013

Asia business sentiment drops, India optimistic

SINGAPORE (Reuters) – Business sentiment among Asia’s top companies deteriorated in the third quarter, led by businesses in export engines such as China and South Korea, ending three consecutive quarters of improving sentiment, the latest Thomson Reuters/INSEAD Asia Business Sentiment survey showed.

The Thomson Reuters/INSEAD Asia Business Sentiment Index fell to 66 in the third quarter from 71 in the second quarter when it reached the highest level in more than a year. An index reading above 50 indicates an overall positive outlook.

    • About Anshuman

      "Anshuman Daga has been with Reuters since 13 years, most of that tracking companies and equity markets. After joining in Mumbai, Anshuman did a stint in India's technology hub of Bangalore and then spent a few years covering European stock markets in London. He moved to Singapore in 2008, with a focus on news coverage of Southeast Asia and technology stories from Asia."
    • Follow Anshuman