12-11-2014, 10:03 AM
(12-11-2014, 09:33 AM)Ben Wrote:(12-11-2014, 09:13 AM)CityFarmer Wrote:(12-11-2014, 07:55 AM)greengiraffe Wrote: List and bombed... that is a good example on why SGX has "failed" investors in recent times and hence why volumes has been on consistent decline...
http://www.businesstimes.com.sg/companie...3m-h1-loss
EuroSports Global posts S$3.13m H1 loss
By
Claire Huanghuangjy@sph.com.sg@ClaireHuangBT
12 Nov5:50 AM
Singapore
LUXURY lifestyle company EuroSports Global Ltd has reported a net loss of S$3.13 million for the first half of its fiscal year ended Sept 30, from a net profit of S$1.89 million a year ago.
The company, which is the only authorised dealer for Lamborghini cars in Singapore
I am wondering which stock exchange doesn't "fail" investors, by ensuring no listed company losses money? With my limited exposure, I can't find any.
Agree with CF. SGX will ensure that companies wanting to list must fulfil a set of criteria, including a track record of profitability. However, I don’t think it is the responsibility of the exchange to ensure that the company continue to make profit post IPO. This should be the duty of individual who wants to invest in the company.
If that is suppose to be the case, then investors should have recourse such as class action against management of companies that are not truthful...
There are plenty of such experience in matured and established markets...
Can't be always, head and tails bankers/operators/vendors win...
A recent example on ASX on a darling IPO then went soured - Vocation:
Maurice Blackburn considers class action on Vocation
• THE AUSTRALIAN
• NOVEMBER 12, 2014 12:00AM
Kylar Loussikian
Journalist
Sydney
LAW firm Maurice Blackburn will today call for investors in ¬beleaguered private education provider Vocation to express an interest in a potential class action over the company’s share price collapse, after being approached by more than 30 institutional investors wanting to proceed.
Jacob Varghese, who would lead any potential class action, said it was clear there was a level of concern in the investor community about how the company had “got it so wrong” on what information should have been disclosed to shareholders about a review into the company’s Victorian operations.
The company maintained it was unaware the Department of Education and Early Childhood Development review would be material, but eventually announced it would have to restructure its business and had lost a significant amount of government funding.
“It’s now time to take it to the next level and provide an opportunity for retail investors and other institutional investors to commit to a class action,” Mr Varghese said.
“It’s clear now that Vocation was under the microscope of regulators, and your newspaper in particular has uncovered that regulators were looking at entities that went into the float, so if it’s true that information was withheld, then it’s a very serious concern for the integrity of the market and every shareholder would have the right to feel aggrieved by that.”
The Australian Securities & Investments Commission is ¬already investigating the non-disclosure of materiality.