A couple of years after The Edge Singapore came into existence in 2002, the darlings of the market were stocks of China-based companies that listed in Singapore, otherwise known as S-chips. Actively pursued by the Singapore Exchange to revive interest in the stock market, S-chips allowed investors the partake in China’s rapid economic growth during the lead-up to the Beijing Olympic Games in 2008.
The huge wave of listings of China companies slowed to a trickle after many of these so-called S-chips collapsed due to poor corporate governance, leaving investors with massive losses and driving them away from the market. More than a decade on, its effects are still being felt
Picture of Chen Wei Ping taken in 2007. He is the former chairman of Midas Holdings, which is under joint probe by MAS, CAD, and Acra.
