[SINGAPORE] Singapore's stock market has seen on average two companies a month on track to relinquish their listing status this year. This trend may not be reversing anytime soon. Read more at The Business Times.
Singapore's stock market has seen on average two companies a month on track to relinquish their listing status this year. This trend may not be reversing anytime soon.[SINGAPORE] Singapore's stock market has seen on average two companies a month on track to relinquish their listing status this year. This trend may not be reversing anytime soon.
Delistings are expected to continue in the second half of this year even at higher prices, according to a poll of four analysts, because the rule change doesn't affect the persistently low valuations which continue to plague the Singapore market. The Straits Times Index is trading at one-year forward price-to-book ratio of 1.13 compared with 1.71 for the MSCI Asean Index, according to data compiled by Bloomberg.
He added that the benefits of keeping SIA Engineering listed is not clear given the stock's low liquidity and the fact it's already a cash-rich company.The event producer and promoter has the largest market share in Singapore for concerts, has strong connections with Canto-pop artists, and can offer Asia access to a larger foreign competitor, said RHB Securities analyst Jarick Seet.
RHB's Mr Seet says the plastic component manufacturer is an attractive target for larger competitors who want a South-east Asian exposure to diversify away from the US and China markets.
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