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Business

Delistings and system glitches are confounding SGX's efforts to reform itself

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  © Reuters

SINGAPORE A wave of delistings and system glitches are afflicting the management of Singapore Exchange (SGX) as the bourse struggles to revive its troubled stock market and its ability to compete against regional rivals such as Hong Kong Exchanges & Clearing.

The Singapore government investment arm, Temasek Holdings, announced on July 20 a plan to take local subway operator SMRT private. Temasek, which holds a 54% stake in SMRT, said it would pay 1.18 billion Singapore dollars ($868 million) to buy the shares held by the minority shareholders. The board of the transport company supported the plan. The aim of the offer is to delist the stock from SGX, Temasek said.

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