SGX can and should do more to refine MTP scheme

YOUR recent editorial (The Business Times, Sept 2) on the Singapore Exchange's MTP initiative is indeed a timely reminder for all in the industry to pause and reflect on the underlying motives behind this unique scheme.

When most of the listed companies that are obliged to satisfy this requirement have done their consolidations, we could very well have a respectable bourse of counters with a minimum trading price (MTP) of at least 20 cents and the naysayers will then have to stop calling the local bourse a penny stock market.

While I applaud SGX for undertaking this bold initiative, I still feel that it has not done enough.