The MTP requirement of 20 cents was proposed in February 2014 in the wake of the penny stock crash, over which alleged masterminds John Soh Chee Wen and Quah Su-Ling are facing trial. About $8 billion in total market value vaporised in October 2013 upon the collapse of the three stocks involved — Blumont Group, LionGold Corp and Asiasons Capital (now Attilan Group).
SINGAPORE (Dec 2): The Singapore Exchange RegCo, acknowledging that there are more effective ways to curb share price manipulation, has proposed to scrap the minimum trading price (MTP) framework that has been described by SGX itself as a “blunt tool” that needs to be refined.
“Market manipulation is a serious matter and we are always fine-tuning our regulatory tools to make them more targeted and efficient,” says SGX RegCo CEO Tan Boon Gin at a media briefing on Nov 27.
