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Full Version: Resources Prima Group Limited (formerly: Sky One Holdings Limited)
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I think I need to record this event for a learning and future reference.

Sky One Holdings opened at 46 cents in the morning. Just in a matter several hours, the counter lost 90.9% of market capitalization. Ended at 4.3 cents at 10:50:08 and halted. The lowest was 4 cents at around 10:49:58.

<not vested>
another syndicated stock?! :O
What a roller coaster.

Trading halt was lifted at 15:15:00. It went to 14 cents before closed at 9.2 cents today.
Amazing. Anyone knows the story behind?
Total number of issued shares : 316,399,998

Total volume of shares traded : 389,811,000

389,811,000 - 316,399,998 = 73,411,002

The reason I suspect for its movements was due to institutions trading on it
Sky One latest to see sharp drop in share price

SINGAPORE — Shares in Catalist-listed Sky One Holdings plunged as much as 91 per cent yesterday, with the company becoming the latest to see a sharp drop in market value despite an apparent lack of negative drivers.

The Hong Kong-based logistics provider saw its share price fall as low as S$0.043 before requesting a trading halt so it could respond to the Singapore Exchange’s (SGX) queries about the massive price drop.

Before yesterday’s decline, Sky One’s shares had been trading in a fairly narrow band. In the last three months, its closing price had stayed between S$0.435 and S$0.48.

In response to those queries, it said “all known information has been duly announced in accordance with the listing rules” and “we are not aware of any possible explanation for the trading”.

The company announced in September last year plans to acquire Indonesian miner Energy Prima for S$400 million in a reverse takeover. Due diligence for the deal is still ongoing, it said in its response to the SGX yesterday.

While Sky One’s shares came off their intraday low after resuming trading, the market was not reassured enough for them to see much more than a token recovery.

The counter ended the session 80.43 per cent lower at S$0.092. The company was the most active counter yesterday by volume, with 389.8 million shares changing hands.

Sky One’s fall mirrors what happened earlier this month to Blumont, Asiasons and LionGold, which collectively saw S$8.6 billion in market value wiped out over three days. Voyage Research Chief Executive Roger Tan believes Sky One has become the latest counter to be targeted by disruptive manipulation.

“We’ve been seeing small- to mid-cap as well as Catalist companies all coming off and it looks to me that shortists are picking off one company after another,” Mr Tan told TODAY. “They are becoming easy prey as confidence in the small- to mid-cap segment has hit a bottom, following the troubles of Blumont, Asiasons and LionGold.

“That a counter can drop by 80 to 90 per cent shows the existing system has room for improvement to prevent such things from happening. One way is to introduce a good and fair circuit breaker — one that allows investors to calm down and assess without over-interfering (in) the market,” he added.

The SGX has said it plans to introduce circuit breakers by early next year. The system will halt the trading of a counter for five minutes if it breaches 10 per cent in either direction. The bourse also said late last week it is conducting an extensive review on the impact of the recent volatilities.

Meanwhile, the market uncertainty surrounding Blumont, Asiasons and LionGold continued yesterday, with all three coming under selling pressure. Blumont fell 21.4 per cent to S$0.128, LionGold dropped 16 per cent to S$0.21 and Asiasons declined 22.2 per cent to S$0.147.
A closer look at Sky One's price chart over the last 2 years will point towards a possibility that the counter is 'managed', likely by some parties trading it in volume on a daily basis and supporting the share price and guiding it upwards higher and higher, likely through the help of some friendly remisiers. So very likely when the syndicate falls apart under the recent great stress in the market, every syndicate member becomes for himself, and the share price has fallen back to earth again.
lim and tan restrict 1 whole big list of counters.

max $30k buy limit.

• Amplefield Ltd
• Artivision
• AsiaMedic
• Asian Micro
• Asiasons
• A-Sonic
• Aussino Grp
• Blumont
• Cedar Strategic
• CEFC International
• Centurion
• Chasen Holdings
• Chaswood Resources
• China Environment
• China Great Land
• China Oilfield
• CNMC Goldmine
• Digiland
• Elektromotive
• EMS Energy
• HL Global
• Infinio
• InnoPac Holdings
• Ipco Intl
• ISDN Holdings
• ISR Capital
• JK Tech
• Koyo
• Lereno
• Lifebrandz
• Lindeteves-Jacob
• Liongold
• Metech Intl
• Mirach Energy
• Next-Gen Satellite
• OSSIA International
• Polaris
• Singapore Kitchen
• Singapore Medical
• Sitra Hldg
• Stratech
• Sunmoon
• SurfaceMT
• Transcu
• TT International
• Tung Lok
• Unionmet
• United Fiber
• Vallianz
• W Corp
• WE Holdings
• YHM Group
• ZhongminBH
• Zhongxin Fruit&Juice
Same goes for UOBKH

Quote:Please note that only the following stocks are restricted from online trading:

AdvSCT (5FH)
Albedo Group (5IB)
Amplefield (C60)
Artivision (5NK)
AsiaMed (505)
Asian Micro Holdings Limited (585)
Asiasons (5ET)
Blumont (A33)
Cedar (530)
CEFC Intl (Y35)
Chaswood Resources Holdings Ltd (5TW)
China Great (D50)
China Oilfield Technology Services Group Ltd (DT2)
Digiland (G77)
ElektromotiveGrp (5VU)
ElektromotW150710 (5VWW)
EMS Energy Ltd (5DE)
HL Global (L18)
Infinio (5CS)
Innopac Holdings Ltd (I26)
Ipco Intl Ltd (I11)
IP Comdty.ETN.100US$ (J1QZ)
ISR Capital Ltd shares (5EC)
JK Tech (5TS)
Koyo (5OC)
Lereno (587)
Lereno W150430 (5QSW)
LifeBrandz (L20)
Lindeteves-Jacoberg Ltd (L15)
LionGold (A78)
LionGold Warrants (R5UW)
Metech Int^ (QG1)
Mirach Ener (C68)
NexGenSCom^ (B07)
Rowsley Ltd (A50)
Rowsley W161003 (T5MW)
Singapore Kitchen Equipment (5WG)
Singapore Medical Group (5OT)
Sitra Holdings (International) Ltd (5LE)
Stratech Systems Ltd (S73)
SunMoon Food Company Ltd (F06)
SurfaceMT^ (Q7Q)
Transcu (E15)
TT Int (T09)
TungLok (540)
United Fiber System Limited (P30)
Vallianz (545)
W Corp (OJ4)
WE Holdings (5RJ)
YHM Group Ltd (5QT)
Zhongmin Baihui Retail Group Ltd (5SR)
Zhongxin Fruit & Juice Ltd (5EG)
Covered Warrants

Please contact your Trading Representatives for trading assistance.
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