Announce review before lifting curbs
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THE disclosure by the Monetary Authority of Singapore (MAS) that Singapore Exchange (SGX) and it are conducting an extensive review of the recent saga surrounding the trading activities of Asiasons Capital, LionGold Corp and Blumont Group is thoroughly welcome but, like the queries from SGX, it has come a tad late.
The MAS announcement came after trading restrictions on the three stocks were lifted two weeks after SGX declared them as "designated securities" on Oct 6.
On Oct 18, SGX decided to lift the trading curbs in an announcement comprising three sentences: One announced the end of the designation on Oct 21, another said SGX would continue to monitor their trading and the third advised shareholders and investors to trade with caution.
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