Has SGX acted too late?

LAST Friday, the Singapore Exchange (SGX) took the drastic step of cleaning up what had been left smelling in its backyard over the years.

On Sunday, the local bourse operator allowed trading to resume in three stocks it had suspended trading in, albeit with restrictions against short-selling and taking on new contra positions.

SGX's unprecedented move to query a clutch of six companies - Asiasons Capital, Blumont Group, LionGold Corp, Innopac Holdings, ISDN Holdings and ISR Capital - last Friday morning and then suspend trading in three of them was largely welcomed by market observers who saw it as a clampdown on irrational stock movements.