<div class=newsTextDataWrapInner><p>SINGAPORE (May 13): Esther Seet, executive director of brokerage firm Lim &amp; Tan Securities, reckoned "on hindsight" restrictions imposed by the Singapore Exchange on stocks of Blumont Group, Asiasons Capital (now known as Attilan Group) and LionGold Corp (BAL) could have caused the 2013 penny stocks crash.</p></div>

<div class=newsTextDataWrapInner><p>During cross-examination in the trial of the alleged masterminds of the crash on Monday, Seet agreed with Senior Counsel N. Sreenivasan (<em>pictured</em>) that an SGX designation would cause severe downward pressure on the three stocks. “Logically, any imposition of trading restrictions would definitely affect the market, because a restriction is quite negative,” said Seet.</p></div>

<div class=newsTextDataWrapInner><p>She also agreed that confusion during that time over whether contra-trading was allowed or not, as well as the “herd mentality” of the stock market, contributed to this downward pressure.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p><em>To read the full story, visit <a href="https://www.theedgesingapore.com/sgx-restrictions-could-have-caused-2013-penny-stocks-crash-says-lim-tan-director" target="_blank">www.theedgesingapore.com</a>.</em></p></div>


Esther Seet, executive director of brokerage firm Lim & Tan Securities, reckoned "on hindsight" restrictions imposed by the Singapore Exchange on stocks of Blumont Group, Asiasons Capital (now known as Attilan Group) and LionGold Corp (BAL) could have caused the 2013 penny stocks crash.

SGX restrictions could have caused 2013 penny stocks crash, says Lim & Tan director

Mergers and acquisitions (M&A) activities fell to the lowest in a decade in 2023. According to the “Global M&A Report” published by Bain & Co, the total M&A market fell by 15% year on year last year to US$3.2 trillion, the lowest in a decade.

M&A activities hit a low in 2023, pickup expected this year

(April 24): Goldman Sachs Group Inc. shares rose to a record on Tuesday, eclipsing their previous closing high set more than two years ago.

The investment banking giant reported first-quarter earnings last week that included a massive profit beat, which one analyst heralded as a “near-p...

Goldman Sachs shares rise to notch first record high since 2021

(April 24): Digital payments company Block Inc., formerly known as Square, has finished the development of its Bitcoin mining chip as Chief Executive Jack Dorsey continues to advocate for a more accessible and decentralized system — an effort he’s championed since 2021.

The three-nanome...

Jack Dorsey’s block finishes development of Bitcoin mining chip

(April 24): International Business Machines Corp. is in advanced talks to acquire software company HashiCorp Inc., according to people with knowledge of the matter.

IBM and HashiCorp could reach an agreement as soon as Wednesday, said the people, who asked not to be identified discussin...

IBM is in advanced talks to acquire software provider HashiCorp

(April 24): Tesla Inc. is accelerating the launch of more affordable models in a bid to arrest a deterioration in its profit margins and sales.

The electric-vehicle maker plans to start production on the cheaper cars before the second half of 2025, when it had previously pledged to begi...

Tesla to accelerate launch of cheaper cars after sales miss

(April 24): This was supposed to be the year that Vietnam reaped the benefits from one of its largest natural gas discoveries.

An estimated 150 billion cubic meters of the fuel, enough to power a city the size of Hanoi for decades, was discovered 50 miles (80 kilometers) from Vietnam’s ...

Xi’s armada is winning the battle for energy in South China Sea

SEOUL (April 24): Kim Yo Jong, the powerful sister of North Korean leader Kim Jong Un, said the country will continue to build overwhelming and the strongest military power to protect its sovereignty and regional peace, the North's KCNA news agency reported on Wednesday.

Kim said a seri...

North Korea leader Kim's sister: we will build overwhelming military power

(April 24): U.S. stocks closed higher on Tuesday following positive earnings from top-tier companies and as investors were focused on quarterly results from Magnificent Seven and other megacap growth stocks.

Tesla kicked off the earnings cycle for technology heavyweights after markets c...

Wall Street closes higher as investors digest earnings, megacap outlook

LONDON (April 24): Ruthless Arsenal threw down the gauntlet in the Premier League title race with a 5-0 thrashing of London rivals Chelsea to roar three points clear at the top of the table on Tuesday.

Any remaining doubts about Arsenal's staying power were answered emphatically as Lean...

Arsenal hammer Chelsea to move three points clear at the top

NEW YORK/LONDON (April 24): Global shares rose on Tuesday, with investors on Wall Street focused on earnings reports from the U.S. megacaps, and the yen tumbled to multi-year lows against the dollar and the euro.

Treasury yields dipped after data showed U.S. business activity cooled to ...

Stocks gear up for Big Tech earnings; yen touches multi-year lows

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.</p>


KomarkCorp, Topmix, PavREIT, Axis REIT, KIP REIT, Cypark, Crest Builders, Capital A, Gadang, Haily, DXN, Inta Bina, Comfort Gloves, AHB

<p>While the opening of The Exchange TRX is anticipated to intensify competition in the malls sector, Pavilion Real Estate Investment Trust (PavREIT) said footfalls at its malls nearby — Pavillion KL and the connected Pavilion Elite — remain unaffected, and they are still enjoying over 95% occupancy rates.</p>


PavREIT says Pavilion KL, Elite's footfalls unaffected by opening of TRX mall

<p>The fatal collision between two Royal Malaysian Navy helicopters that killed 10 personnel abroad could be due to a failure in the critical points of the aircraft structure, aviation expert Assoc Prof Maj Dr Mohd Harridon Mohamed Suffian said.</p>


Critical point failure could’ve led to fatal Lumut chopper crash, says expert

<p>The Malaysian Oil, Gas &amp; Energy Services Council (MOGSC) has called on oil and gas (O&amp;G) stakeholders, especially financial institutions, not to write off O&amp;G services and equipment (OGSE) players in the energy transition agenda, as they still have a role to play.</p>


Don't forget O&G services and equipment players in energy transition agenda, says industry association

<p>Chin Hin Group Bhd’s conditional mandatory takeover offer to acquire the remaining shares it does not own in Signature International Bhd has turned unconditional, after it aggregated more than 50% of the voting shares.</p>


Chin Hin's MGO for Signature International turns unconditional as shareholding surpasses 50%

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EVENING 5: Five things you need to know today

<p>KUALA LUMPUR (April 23): DXN Holdings Bhd posted a 43.23% rise in net profit to RM79.02 million for its fourth quarter ended Feb 29, 2024 (4QFY2024), from RM55.17 million a year ago, on the back of higher revenue.</p>

<p>Earnings per share rose to 1.59 sen from 1.14 sen, according to the healt...

DXN’s 4Q net profit up 43%, seeks to expand market presence in Brazil

<p>The M503-3 Maritime Operations Helicopter (HOM) that was involved in a crash Tuesday morning was used for the first time in the flyby for the 90th Royal Malaysian Navy (TLDM) Anniversary parade.</p>


Downed HOM chopper used for the first time in flyby, says defence minister 

<p>Sarawak’s strategic alliances with the UK's leading industry partners in the development of compound semiconductors will drive innovation to increase the capability of microchips to power new technologies and applications, said Sarawak Premier Tan Sri Abang Johari Tun Openg.</p>


Sarawak eyeing partnership with UK companies to boost semicon capabilities

<p>KOTA KINABALU (April 23): The Kibing Group has successfully exported its inaugural batch of solar glass manufactured in Sabah, totalling 672 tonnes, to Cambodia last Sunday (April 21).&nbsp;</p>


Kibing Group exports 672 tonnes of Sabah’s first batch of solar glass to Cambodia

<p>Inta Bina Group Bhd has bagged a contract worth RM169.67 million to develop a serviced apartment project in Country Heights.</p>


Inta Bina bags RM170m serviced apartment job in Country Heights

<p>IPOH (April 23): The post-mortems of 10 victims of the tragedy of two helicopters colliding near the Royal Malaysian Navy (TLDM) base in Lumut, currently being carried out at the Raja Permaisuri Bainun Hospital here, are expected to be completed by Wednesday (April 24) afternoon.</p>


Helicopter tragedy: Victims’ post-mortems expected to be completed on April 24 afternoon

<p>Wall Street's main indexes rose on Tuesday as some growth and chip shares gained, while stocks like General Motors and Spotify advanced on upbeat earnings updates ahead of quarterly reports from big technology companies.</p>


Wall Street gains on bright earnings, megacaps' support

<p>The FTSE Bursa Malaysia KLCI’s (FBM KLCI) rise to its highest level this year at 1,567.57 points under the administration of the unity government, led by the Prime Minister Datuk Seri Anwar Ibrahim, confirms that the Malaysian economy will continue to strengthen.</p>


Rafizi sees Malaysian economy strengthening alongside Bursa

<p>KOTA KINABALU (April 23):&nbsp;The Sabah government has not imposed state sales tax&nbsp;and the Royal Malaysian Customs Department has also not levied export duties on gold taken out of Sabah to Peninsular Malaysia, the Sabah State Legislative Assembly was told on Tuesday.</p>


No sales tax, export duties on gold taken out of Sabah to peninsula

<p>US business activity cooled in April to a four-month low due to weaker demand, while rates of inflation eased slightly even as input prices rose sharply, suggesting some possible relief ahead as the Federal Reserve looks for signs that the economy is ebbing enough to bring inflation down further.</p>


US business activity cools in April; inflation measures mixed 

<p>KOTA KINABALU (April 23):&nbsp;A total compensation of RM651 million has been paid to 1,591 landowners and stakeholders involved in the construction of the Pan Borneo Highway project in Sabah.</p>


RM651 mil compensation paid to landowners involved in Sabah’s Pan Borneo Highway

<p>(April 24): U.S. stocks closed higher on Tuesday following positive earnings from top-tier companies and as investors were focused on quarterly results from Magnificent Seven and other megacap growth stocks.</p>

<p>Tesla kicked off the earnings cycle for technology heavyweights after markets c...

<p>Office furniture maker AHB Holdings Bhd’s foray into the electric vehicles (EV) business has encountered a setback as its planned acquisition of a 51% stake in automotive distributor CAF Motor Sdn Bhd was mutually terminated.</p>


AHB's proposed acquisition of EV automotive distributor scrapped

<p>NEW YORK/LONDON (April 24): Global shares rose on Tuesday, with investors on Wall Street focused on earnings reports from the U.S. megacaps, and the yen tumbled to multi-year lows against the dollar and the euro.</p>

<p>Treasury yields dipped after data showed U.S. business activity cooled to ...