Is share consolidation the way to go to achieve MTP?

WHAT is the main objective of Singapore Exchange (SGX) in its long-drawn-out campaign to introduce a minimum trading price (MTP)? It is beginning to look like a battle with small retail investors who, in numbers, surely outnumber all other groups interested in the issue. This group is the most affected, not by the concept of MTP, but rather the strategy chosen by SGX to achieve it - share consolidation. With companies left to decide on the ratio of consolidation, there seems to be a race to see which company can reduce its share capital the most.

I heard one company intended to use a 1,000-to-one basis, but eventually did a 500-to-one.

The SGX team pushing for MTP of 20 cents should pause and look at the possible effect on small shareholders, which are a large group.