Singapore Exchange (SGX)

We do see bond listing has been increased both in number and value, base on SGX numbers...

Both offshore bonds and loans are popular means for Chinese companies for capital funding...

(vested)

Chinese tap Singapore wealthy in record bond sales

Singapore’s bond market is getting a boost from Chinese borrowers tapping the island’s millionaires for record amounts at rates almost 30% cheaper than home.

Private investors in Singapore took almost all of the $380 million of local dollar-denominated notes sold by mainland Chinese companies excluding banks last month, according to people familiar with the matter. Offerings in the currency by all Chinese borrowers rose to S$1.7 billion this year, almost double such sales for the whole of 2013, according to data compiled by Bloomberg.

China’s issuers are increasingly targeting Singapore’s surging millionaire base to raise funds amid record borrowing costs at home. Debut issues from offshore companies rose to 10 in 2014 compared with none five years ago, supporting a market that makes up just 20% of bond sales in the Asean region compared with about 32% each for Thailand and Malaysia.

“The future growth of Singapore’s bond market is dependent on making itself relevant to offshore issuers and investors, over and above the domestic market,” Clifford Lee, Singapore- based head of fixed income at DBS Group Holdings Ltd., the island’s top bond arranger, said in an interview. “It’s natural for Chinese issuers to sell Singapore dollar bonds as they continue to grow, as there’s the appeal of further diversification in an open and transparent capital market.”

Slowing China
Yields on yuan-denominated bonds are averaging at a record high of 5.87% this year, according to a Bank of America Merrill Lynch index, as China faces its slowest growth since 1990, plummeting deposits and rising soured debt amid a property slump. The average coupon on Singapore-dollar bonds in the same period is 4.16%, Bloomberg-compiled data show.
...
http://www.theedgesingapore.com/the-dail...sales.html

SGX's casino mentality and focus on short term returns will bring about a lot of rubbish and eventual pain.

Even eventual retail access on bonds will end in tears.

The state of the market since the CLOB demise, S Chip saga and even the most recent Msian punter busting of shell companies speak so much on the track record of SGX.

The whole board of top brass simply don't have the real feel of what it takes to be stockbrokers in my opinion.

There was even issue of corporate car for a top exec during the recent AGM.

Anyway, on a global basis, stockbrokers are all having a hard time.

Odd Lots Vested
GG

http://www.businesstimes.com.sg/premium/...r-20141004

PUBLISHED OCTOBER 04, 2014
Strong growth in SGX derivatives & commodities business in September
BYR SIVANITHY
sivan@sph.com.sg @RSivanithyBT

The exchange said its foreign exchange futures also notched up record volume for the month, with more than 100,000 contracts done as increased forex volatility raised hedging demand from investors. - ST FILE PHOTO
Singapore
THE Singapore Exchange (SGX) on Friday reported that average daily value traded in securities plunged 34 per cent in September compared to last year, but business in derivatives was up 18 per cent from September last year, while the number of contracts cleared on its Asiaclear commodities clearing service was more than six times the number last September.
In a news release, the exchange said total value traded in securities for last month was S$21 billion, a one per cent increase over August.
It said there were a total of 50 new listings comprising 48 bonds which raised S$23 billion and two initial public offers (IPOs): YuuZoo on the mainboard and Versalink on Catalist, which in total raised S$36 million.

(03-10-2014, 03:48 PM)greengiraffe Wrote: SGX's casino mentality and focus on short term returns will bring about a lot of rubbish and eventual pain.

Even eventual retail access on bonds will end in tears.

The state of the market since the CLOB demise, S Chip saga and even the most recent Msian punter busting of shell companies speak so much on the track record of SGX.

The whole board of top brass simply don't have the real feel of what it takes to be stockbrokers in my opinion.

There was even issue of corporate car for a top exec during the recent AGM.

Anyway, on a global basis, stockbrokers are all having a hard time.

Odd Lots Vested
GG

This explains why big reputable companies are shunning SGX.
Just look at the quality of the new listing companies .

If they cannot control the s-chips controlling share holders, I wonder how are they going to control the Chinese (Bond) borrowers ? What type of jurisdiction does the SGX invoke if problems arises such as defaults?

The new listings getting from bad to worse. Sgx is desperate to pump up revenues, they dun care if they bring in poison for retail investors. Maybe we can also consider investing overseas in markets such as US or HK

(04-10-2014, 06:43 PM)LLS Wrote: The new listings getting from bad to worse. Sgx is desperate to pump up revenues, they dun care if they bring in poison for retail investors. Maybe we can also consider investing overseas in markets such as US or HK

I don't think your statement is justifiable. I don't think SGX is really desperate to pump up revenue, and I absolutely do not agree with you that they bring in poison for retail investors. In fact, SGX has made considerable effort to educate the general public on investing, through various courses both on and off line. In case you are not aware, they are making contribution to SIAS every year to promote education to the general public.

I would agree if you say they did not do a good job in preventing fraud so far, but you make it sound like they are deliberate out to cheat the public for their own gains, which is definitely not the case. Look at some of the latest proposals by SGX, they are clearly taking actions to improve the reputation of Spore exchange. Effective or not is too early to say, but at least they are taking actions.

There may be just a teeny wee bit of every truths/rumours of all Exchanges in the World, are true. They existed not to just ensure all participants can make money. If that is so who lose money? You, you and you lol! Me sometimes lose sometimes make lol! It is really all up to you and me lol!
Proverbial saying, "if the stock doesn't goes up don't buy lol" - "KISS"

sorry for my comments earlier
I was angry with SGX because I got burned badly in a few S-chip scandals before
so sad... sobs sobs

(04-10-2014, 09:16 PM)LLS Wrote: sorry for my comments earlier
I was angry with SGX because I got burned badly in a few S-chip scandals before
so sad... sobs sobs

My sympathy.
But don't you think you are a donkey.
"Lau Cheow like me knew it was very dangerous in the first place so i nimble a bit here a bit there.
Why F&N AND DBS did it too.
Then finally i KK i trade (speculate) and i lost to the tune of $4XXXX.
NO!
Never AH TIONG coys for me anymore.
They can fake everything even their own CHENG HU can't do much anything in CHINA.
Now if you must get angry, i suggest you get even- don't ever touch AH TIONG again.
Not even ALIBABA -& the 40 thieves.
Ha! Ha!
Cheers!