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Citigroup partners with SGX as new depository bank

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SGX is enhancing its suite of American Depository Receipts by adding new companies from other Asian countries and partnering a second depository bank.

Initially, the new ADRs to be added are from Focus Media Holdings (China), JA Solar (China) and POSCO (Korea). They will trade on SGX GlobalQuote from this quarter, joining 19 other ADRs from Chinese companies which debuted on GlobalQuote on October 2010.

Citigroup is the latest depository bank brining ADRs onto GlobalQuote, joining BNY Mellon which acted for the pioneer batch of 19 ADRs. Since the ADRs launch, GlobalQuote has achieved total turnover of $3.4 billion.

Mr Magnus Bocker, CEO of SGX said, “We are offering wider investment selection to our investors who have responded positively to the successful launch last October. By the end of the first quarter, GlobalQuote will offer a pool of the largest and most liquid securities in Asia, equivalent to more than a third of the companies in the benchmark MSCI Asia APEX Index which tracks Asia’s top 50 companies.”

Ms Nancy Lissemore, Global Head of Citigroup’s Depositary Receipt Service said, “Capitalising on our market leadership in depositary receipt services, Citi is delighted to partner SGX to facilitate the trading of selected depositary receipts on the GlobalQuote platform. We believe this will enhance liquidity and assist issuers in gaining access to new investors and the capital pool in the Asian Pacific region.”

Mr Michael Cole-Fontayn, CEO of BNY Mellon Depositary Receipts said, " We are delighted to partner SGX again on the innovative GlobalQuote platform after launching together last October. SGX GlobalQuote has allowed major Asian corporations to expand their shareholder base within Asia and enjoy even more liquidity in their local time zone. The positive effect on the initial 19 companies is apparent with over 4 million additional ADRs traded to date. We look forward to bringing even more ADRs from Asian companies to SGX's successful venue."

Tags: Singapore depository bank, Singapore investors, Singapore investments

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08-Apr-2011 13:09

SGX / SGX

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Singapore Exchange, Asia’s second largest listed bourse, will pay incoming CEO Magnus Bocker a guaranteed base salary of S$750,000 ($520,800) a year and a minimum variable bonus of S$933,000 for his first seven months… Bocker… will also get S$4.77 million over three years as compensation for loss of long-term incentives and bonuses at his present job. His other perks include a housing allowance of S$300,000 per annum for the first two years, a club membership, and a car and driver.

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The CEO Magnus Bockers - did he regret becoming CEO of SGX?

alexchia01 ( Date: 08-Apr-2011 11:10) Posted:

SGX seems about to Run...

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08-Apr-2011 13:04

SGX / SGX

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> > ASIAONE / BUSINESS / NEWS / STORY

Fri, Apr 08, 2011
AFP

Canberra blocks Australia-Singapore bourse merger

SYDNEY, Australia - Australian Treasurer Wayne Swan officially blocked the proposed merger of the Australian and Singapore stock exchanges Friday, branding it a takeover that would damage national interests.

" Let's be clear here: this is not a merger. It's a takeover that would see Australia's financial sector become a subsidiary to a competitor in Asia," he said.

" It was a no-brainer that this deal is not in Australia's national interest."

Swan said Australia's " economic and regulatory sovereignty over the ASX would be at risk" if the deal went through, making Australia's bourse a junior partner.

" (This) could only be justified if there were very substantial benefits for our nation, such as greatly enhanced opportunities for Australian businesses and investors to access capital markets.

" Given the size and nature of the SGX, the opportunities that were offered under the proposal were clearly not sufficient to justify this loss of sovereignty."

The ASX and Singapore Exchange Limited announced plans last October to create one of the world's largest and most diversified financial trading hubs in a Aus$8.4 billion ($8.7 billion) deal.

But the proposal hit hurdles in Australia, where concerns over foreign ownership and Singapore's democracy and rights record were raised.

Swan's decision was the first time since 2001 that an application has been rejected by the Foreign Investment Review Board and the Treasurer was at pains to make clear that Australia welcomed foreign investment.

" The Australian government's longstanding policy is to welcome foreign investment," he said.

" Such investments are subject to review on a case-by-case basis ... which allows the Treasurer to prohibit a particular acquisition on national interest grounds.

" It is important to emphasise that this occurs very rarely."

Nevertheless, Australia's attitude to the merger could see the ASX fall behind its peers, analysts say, amid a climate of global consolidation among exchanges.

Last week, the Nasdaq and Intercontinental Exchange joined forces to make an $11.3 billion bid for NYSE Euronext.

The London Stock Exchange has meanwhile proposed merging with the Toronto bourse to create one of the world's biggest trading platforms.

Swan though said the Australian Treasury, the Reserve Bank of Australia, and the Australian Securities and Investments Commission had all raised concerns about regulatory oversight when it came to SGX's takeover bid.

" It is important that we continue to build Australia's standing as a global financial services centre in Asia to take best advantage of the benefits of our superannuation savings system," he said.

" I had strong concerns that the proposed acquisition would be contrary to these objectives. "

In coming to a decision, he said he had to consider the proposal's potential benefits and implications for Australian businesses, investors and the community, and decided they were not enough to green-light the deal.

In particular, he pointed to the SGX being a smaller regional exchange, based on the number of companies listed and the value of those listings, and he was not prepared for the ASX to effectively become " a junior partner" .

" At the end of the day this takeover was more about growing Singapore's financial sector than Australia's," he said.

" The deal just doesn't stack up whatever yardstick you use."

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08-Apr-2011 12:42

User Research/Opinions / your biggest worries?

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BE very careful dealing with taiwanese business men............are we not learned enough from those stupid chinese soap operas .......爱 (never failed to listen to this song everywhere)

how they cheat each others and those politicians cheating spree to their own benefits and the slappings left and right like our indian friends making loti prata like this in hawker centres................lol!)

pharoah88 ( Date: 08-Apr-2011 12:36) Posted:

OVERHEARD:

TAIWANESE says

DON'T " A" me

DON'T TRY to " A"

TAIWANESE had ENOUGH of " A" s in earlier lives

TAIWANESE knows VERY WELL WHAT is the MEANING of " A"

" A" yourself wIll dO ! ! ! !

B to Z are nOt sO BAD ? ? ? ?

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08-Apr-2011 12:38

Genting Sing / GenSp starts to move up again

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The Malaysians aunties very clever,

They come to RWS, 2 person in a team, one buy big , one buy small (they suddenly stood behind me, then out of sudden, stretched their hands from my behind, this gave me a fright cos i suddenly saw a fat hand with some gold bangles appearing infront of me...... donno they got touch me or not..............lol!!!!)

The dealers said malaysians got some free voucher and they must play by table in order to redeem the vuocher and therefore, oen by big one buy small and sure gain, they then change the chips into S$, and go away.

pharoah88 ( Date: 08-Apr-2011 12:31) Posted:

It is SENSIBLE to BAN SINGAPORE AUNTIES & UNCLES

to VISIT the CASINO,

EVEN though they are allowed to GAMBLE EVERYDAY at the HEARTLAND Singapore Pool bOOths.

# # # #

It is CRAZY to issue CASINO LICENCE ? ? ? ?

and BAN JUNKET OPERATORS ? ? ? ?

# # # #

KNOW HOW TO OPERATE CASINO OR NOT ? ? ? ?

# # # #

Is this the " A" TEAM mentality ? ? ? ?

Raptor22 ( Date: 08-Apr-2011 11:50) Posted:

A junket is already operating here?

Singapore Stocks- Likely to rise on US Genting S'pore in focus

Wed Apr 6, 2011 8:36pm EDT

 SINGAPORE, April 7 (Reuters) - Singapore shares are likely
to rise on Thursday following gains on Wall Street overnight, as
stronger commodity prices and firm global markets help to
support investor confidence.

 Shares of casino operator Genting Singapore may be
in focus after the Business Times said Las Vegas Sands 
chief executive Sheldon Adelson suggested that a junket
representative could have been operating at its Singapore
casino, which is currently not allowed.

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08-Apr-2011 12:33

Informatics / Road to recovery in next 1-2 years

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I think he means naked short and takes chances to see if price will go down by 0.005. cover back same day, but, it looks hard to cover back on same day unless he shorted 0.125 and buoght back 0 125......lol!

AnthonyTan ( Date: 08-Apr-2011 12:29) Posted:

U r making noises oni. No action lah.

Just wondering how a trader can short

with this kind of share px. movement.

Anyway, u r a marvellous guy. Pl. post

more so tat others can learn yr trading

technique

saverman8 ( Date: 08-Apr-2011 11:35) Posted:

junk stock la!!! see how i short it down to jialat jialat.. :

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08-Apr-2011 12:21

Genting Sing / GenSp starts to move up again

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Worry about this recession later. The world will help Japan. Meantime, you shld enjoy the STI's historical (since 2009) high .

epliew ( Date: 08-Apr-2011 11:33) Posted:

one more disaster, japan will be recession?

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08-Apr-2011 12:16

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Dont worry, i can remember, the flourish of the Midas........lol!

Isolator ( Date: 08-Apr-2011 11:00) Posted:

Hey... don't forget my the other baby MIDAS leh... lol...

pharoah88 ( Date: 08-Apr-2011 10:55) Posted:

In every falling market,

there are always GEMS SOARING.

C O S C O looks like a GEMS ?

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08-Apr-2011 12:08

Informatics / Road to recovery in next 1-2 years

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CFD account doesnt allow penny stocks?

AnthonyTan ( Date: 08-Apr-2011 12:04) Posted:

saveman8, u did not answer my quiry.

I am doubting yr shorting in this counter.

AnthonyTan ( Date: 08-Apr-2011 11:21) Posted:

U mentioned a few times abt shorting this counter.

It's not in my broking firm,( philip securities) cfd

list. How do u short this counter whereby u must

cover by the end of the day. True or not, u really

short this counter???????

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08-Apr-2011 12:07

User Research/Opinions / your biggest worries?

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pharoah,

Are you serious you are using COURTS management system skill into Singapore politics system?

Courts offers 110% money back, but, on the other hand, those " buy back" are refurbished and sold to another buyer, 2nd hand, though, at cheaper rates.

How are you comparing this to the COURTs management system..

Interesting, can you elaborate.

Is it: When people vote oopposition party, but, after that, they regret, PAP take it back, then, ask people to " revote again" ?? hahahah!

pharoah88 ( Date: 08-Apr-2011 11:37) Posted:

dOes " A" TEAM ? ? ? ?

cOmmIt tO ? ? ? ?

110% mOney Back WARRANTY ? ? ? ?

lIke COURTS ? ? ? ?

OtherwIse ? WHAT Is the Use Of " A" TEAM ? ? ? ?

" A" prOmIses may be empty ? ? ? ?

sO COURTS is " AA" TEAM ! ! ! !

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08-Apr-2011 11:52

User Research/Opinions / BBs in places

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You bought GentingHK in US$?

I am thinking : Have you tried using S$ to buy, but, when you sell , have you tried asking your broker pay you back in US$ instead? boleh?

ruanlai ( Date: 08-Apr-2011 11:38) Posted:

BBs in places in Singapore Markets Favour in: Capital Land Capital Mall Asia Genting Sp Genting HK HPH Trust Worth watch.... buy at your own risk.....

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08-Apr-2011 11:50

User Research/Opinions / BBs in places

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2 of my counters got your BBs in it.

Thank you for your BBs huh!

ruanlai ( Date: 08-Apr-2011 11:38) Posted:

BBs in places in Singapore Markets Favour in: Capital Land Capital Mall Asia Genting Sp Genting HK HPH Trust Worth watch.... buy at your own risk.....

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08-Apr-2011 11:35

HPH Trust USD / HPH Trust US$

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may be can reach above ipo price...

alianto1969 ( Date: 31-Mar-2011 16:43) Posted:

Huat ah and USD going up too hehehehe. ABNORMAL times i like it. Cheong ah!

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08-Apr-2011 11:30

Genting HK USD / IR in Taiwan

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wowo now 0.45

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08-Apr-2011 11:10

User Research/Opinions / your biggest worries?

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Theirs is A laid back type of life style.

Is SGX in good hand if merger realises?

pharoah88 ( Date: 08-Apr-2011 09:07) Posted:

In AUSTRALIA

EVERY WEEKEND is

FAMILY WEEKEND !

One Nominal Price [Highly Subsidised] Family Ticket tO

RIDE ALL BUSSES, TRAINS and CRUISES.

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