Lessons for PropNex from recent SGX queries
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WHEN the chief executive of PropNex let on during an event on Jan 10 that commissions from transactions handled by its salespeople last year had exceeded S$1 billion, the market barely took notice.
PropNex closed at S$1.67 that day, a Monday, up just S$0.03 from its previous close. Over the next few days, the stock slipped back down. On Friday, Jan 14, it closed at S$1.62.
More than a month later, on Feb 21, when PropNex responded to queries from the Singapore Exchange (SGX) about the comments made at the Jan 10 event, the market seemed to react more strongly.
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