Other than the above, we are now slipping down the ladder. In an article today in the Today paper, it has this headline, ‘Thailand topples Spore as SE Asia’s king of IPOs’. If this is not bad enough, we have even fallen behind Malaysia and Jakarta. We only had 13 IPOs listed in the SGX with only one in the main board and the 12 in the Catalist board. The funds raised in SGX are less than 10% of Thailand, one third of Malaysia’s and half of Indonesia’s.
What is happening? No one wants to list in the best managed stock market in Asia with leading edge super speed computers, computer trading and non stop trading? Oh, the regional bourses are promoting themselves and encouraging their local companies to list at home. Great reasoning, we should also do that. The only principle that business people swear in is to make money. If the local bourses are shitty, would their companies list in them to get shit?
If SGX is where they can make money, that alone will be the reason for companies to flock here. No need any funny promotion. What is happening to the SGX? Retail investors fleeing the market, companies refusing to list and there is a new beginning when companies are starting to delist from the exchange. And the broking houses are as quiet as the cemetery and remisiers and dealers are calling it a day with increasing numbers. Nothing to worry about, it is the new norm.
Is there anything wrong with the stock market? Why is the stock market called a moribund market? Why is the best stock market in Asia, or wanting to be the best stock market in Asia, falling into such a deplorable state? No, it is a wrong perception. The market is in the pink of health. Everything is fine. They are encouraging the remisiers to go for more training to be the best remisiers to service the clients, and maybe help the clients to make more money. There are even specialists in the business, not just ordinary remisiers.
Not to worry, everything is fine, just fine. The SGX is the best stock market in Asia. It would be nice if there is a Times Ranking system like how they ranked the universities and SGX would definitely rank at the top.
How to run down a stock market to ground zero? Impossible! We have the money to buy the best talents from the whole world to manage the stock market. We are paying very good money. We will overcome and be the best we can be. The best is yet to come. The stock market is in good hands.