<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Short selling
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<!-- START OF : div id="storytext"--><!-- 4 or less paragraphs so show all paragraphs first before showing the media and bkstry and stuffs --><!-- story content : start -->'SGX-listed companies must be appropriately ring-fenced.'
<!-- story content : start -->MR LEE CHOONG ONN: 'Ninety per cent or more of our listed companies are small or micro capitalisation companies which are exposed to all manner of opportunistic financial predators. When we first started developing Singapore as a regional financial centre, we took great care to ring-fence the Singapore dollar market by setting up a Domestic Banking Unit (DBU) and Asian Currencies Unit (ACU). This was to protect the Singapore dollar from financial predators, thereby letting us maintain an orderly exchange rate. We have succeeded to date. Hong Kong has uptick rules for naked short selling. And if the United States, by far the greatest champion of the capitalist system, considers it necessary to ban short selling, shouldn't the Singapore Exchange (SGX) immediately implement a full disclosure policy on short interest at the minimum, so that all market participants have equal information on the amount shorted by the market. We are a small market and our emerging companies should be given a chance to ride out the current financial tsunami. Like the DBU, SGX-listed companies too must be appropriately ring-fenced.'
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I welcum Hedge Funds and Shortists! They create jobs for Sporns! *hee*hee*<!-- Vodcast --><!-- Background Story -->
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<!-- START OF : div id="storytext"--><!-- 4 or less paragraphs so show all paragraphs first before showing the media and bkstry and stuffs --><!-- story content : start -->'SGX-listed companies must be appropriately ring-fenced.'
<!-- story content : start -->MR LEE CHOONG ONN: 'Ninety per cent or more of our listed companies are small or micro capitalisation companies which are exposed to all manner of opportunistic financial predators. When we first started developing Singapore as a regional financial centre, we took great care to ring-fence the Singapore dollar market by setting up a Domestic Banking Unit (DBU) and Asian Currencies Unit (ACU). This was to protect the Singapore dollar from financial predators, thereby letting us maintain an orderly exchange rate. We have succeeded to date. Hong Kong has uptick rules for naked short selling. And if the United States, by far the greatest champion of the capitalist system, considers it necessary to ban short selling, shouldn't the Singapore Exchange (SGX) immediately implement a full disclosure policy on short interest at the minimum, so that all market participants have equal information on the amount shorted by the market. We are a small market and our emerging companies should be given a chance to ride out the current financial tsunami. Like the DBU, SGX-listed companies too must be appropriately ring-fenced.'
<!-- story content : end -->
I welcum Hedge Funds and Shortists! They create jobs for Sporns! *hee*hee*
