A couple of micro-cap SGX companies are surging – but investors should think twice before biting

WHILE most Singaporeans are fretting over their ability to save S$1 million for their retirement, one Chinese private investor has made that amount on the Singapore market in the past week alone.

Former brand marketing consultant Cui Wenyan gained a cool S$1 million from having invested S$171,128 for some 4.3 million shares in little-known Singapore-listed company Acma , at S$0.04 apiece in a placement completed on Jan 14.

The issue price of the new shares represented a premium of approximately 29 per cent to Acma’s volume weighted average price of S$0.031 a share on Dec 29 – the day before the placement was proposed.