Ali: I
want and
should
be given
27% of
the pie
because
of ………
Ah
Chong: I
want and
should
be given
38% of
the pie
because
of ……..
Muthu: I
want and
should
be given
28% of
the pie
because
of ……
Sounds
familiar?
In short
everyone
in
Malaysia
irrelatively
of
ethnic
or race
is
asking
of
certain
of
percentage.
We can
see
people
demonstrating,
screaming
in
parliament,
water
cannon
and tear
gar
thrown,
FRU,
news
paper,
blog,
international
communities
and news
portal
and many
more all
talking
about
this.
While we
are all
fighting
on who
is
getting
the
bigger %
of the
pie, our
neighbors
are busy
making
their
pie
bigger.
You can
read the
article
in the
star
here.
Or
below.
Basically
in
summary,
‘According
to
Bloomberg,
there
are 736
companies
listed
with a
total
market
capitalization
of
S$824bil
on SGX
as at
Oct 3.
Of the
total
listed
companies,
272 are
foreign
companies
with
market
capitalization
of
S$273bil
while
local
companies
have a
market
capitalization
of
S$551bil.’
And how
is it
compared
to
Malaysia?
You can
check
out
Bursa
Malaysia
site
here,
it has a
complete
list of
Malaysia
IPO.
There
are only
about 27
companies
listed
in the
year
2007!!!
And I
think
there is
only one
foreign
company
listed
which is
the
latest
Aeon
Credit
Services
IPO. I
am not
too sure
if this
is the
right
comparison
and if
any our
readers
know
that the
comparison
is
wrong,
please
let us
know and
we will
gladly
correct
it.
So what
does
making
the pie
bigger
helps in
making
the
dividing
of the
pie
simpler?
Looks at
it this
way, if
KLSE
have a
market
capitalization
of
RM100 million.
Lets say
Chinese
have 40%
or
40million
Malay
have 18%
or
18million
Indian
have 5%
or
5million
And if
the
government
are
targeting
Malay to
have 30%
of the
pie or
30 million.
Wouldn’t
it be
simpler
if we
make the
pie
bigger,
or
rather
twice
the size
of it
today.
Based on
RM100 million,
Malay
would
have
RM30 million
and they
would
have 30%
of the
pie,
however
if we
would 2x
the pie,
making
it
RM200 million,
and
based on
18%,
that
would
means
the
Malay
would
36 million,
6
million
more
than
dividing
the
current
pie
J.
The
point we
are
trying
to make
if
rather
than
fighting
among
our self
on who
gets
chicken
pie,
apple
pie or
pineapple
pie, we
should
be
united
if
fighting
or
competiting
with our
neighboring
countries.
While we
are busy
demonstrating,
shooting
water
cannon
and tear
gas at
our
brother
and
sisters,
catching
demonstrator,
setting
up
hotline,
our
neighbors
are
laughing
all the
way to
the
bank.
We need
to wake
up, we
need to
unite,
we need
a strong
leader
that
have a
vision
to grow
the pie,
help the
poor
irrelative
of race
or
gender
and lead
us
competing
in the
globalize
world.
More
foreign
firms
drawn to
Singapore
exchange
By LEONG
HUNG YEE
Foreign
listings
account
for
about
one-third
of SGX’s
total
market
in terms
of
number
and
market
capitalisation.
SINGAPORE
is
increasingly
being
recognised
as
Asia's
financial
gateway
and many
companies
are
seeking
listing
on the
Singapore
Exchange
Ltd (SGX).
SGX
senior
executive
vice-president
and head
of
markets
Gan Seow
Ann said
its
listing
platform
currently
hosted
more
foreign
listing
aspirants
than
domestic
ones.
“This
year,
new
foreign
listings
accounted
for
about
70% of
the
total
number
of
listings.
“Overall,
foreign
listings
accounted
for
about
one-third
of
our
total
market
in
terms
of
number
and
market
capitalisation
and
we
expect
this
to
enlarge,
going
forward,”
Gan
said
on
the
sidelines
of
the
launch
of
SGX's
new
board,
Catalist
in
Singapoe
recently.
According
to
Bloomberg,
there
are
736
companies
listed
with
a
total
market
capitalisation
of
S$824bil
on
SGX
as
at
Oct
3.
Of
the
total
listed
companies,
272
are
foreign
companies
with
market
capitalisation
of
S$273bil
while
local
companies
have
a
market
capitalisation
of
S$551bil.
Chief
executive
officer
Hsieh
Fu
Hua
said
SGX
continued
to
be
well-positioned
as a
regional
hub
to
capture
trade
and
information.
He
said
trading
was
more
likely
to
remain
geographically
confined
and
time
zone
bound
for
global
stocks.
“Investors
naturally
have
better
access
and
accord
greater
mind-share
to
news
and
research
closer
to
home
hence
trading
within
the
region
or
time
zone
will
be
more
active
than
elsewhere,”
he
said.
Meanwhile,
analysts
said
in
the
Asia-Pacific,
Singapore
continued
to
be a
leader
and
a
high
growth
market
for
real
estate
investment
trusts
(REITs),
along
side
Japan
and
Hong
Kong.
They
said
Singapore's
tax-friendly
and
supportive
regulatory
framework
continued
to
spur
development
of
the
REITs
sector.
“REIT
dividends
in
Singapore
are
tax
exempted
and
provided
higher
yields
due
to
lower
inflation,”
an
analyst
said.
SGX
executive
vice-president
and
head
of
listings
markets
Lawrence
Wong
said
Singapore's
REITs
have
experienced
phenomenal
growth,
with
market
capitalisation
increasing
by
110%
per
annum
over
the
last
four
years.
He
said
the
main
drivers
of
growth
include
the
new
sector
REITs,
cross
border
REITs,
secondary
offerings
to
fund
new
acquisitions
as
well
as
capital
appreciation.
There
are
currently
17
REITs
listed
on
the
SGX
with
a
total
market
capitalization
of
about
US$27bil.
Meanwhile,
analysts
said
one
of
the
most
compelling
factors
that
led
companies
to
list
in
Singapore,
Hong
Kong
or
London
was
because
of
their
better
market
valuations.
“This
stems
from
the
fact
that
the
markets
are
supposedly
more
vibrant,
and
have
more
funds
buying
their
stocks
and
this,
in
turn,
leads
to
more
liquidity,”
an
analyst
said.
“In
some
cases,
it
makes
sense
to
list
on
London's
Alternative
Investment
Market
(AIM)
as
it
is
easier
to
raise
capital
with
a
good
business
plan
but
minus
a
historical
earnings
record.
“However,
companies
in
this
region
could
be
looking
at
Singapore
for
listing
from
now
as
Singapore
Exchange
Ltd
(SGX)
has
introduced
Catalist,
which
is
similar
to
AIM,”
an
investment
banker
said.
Analysts
said
generally
speaking,
markets
trade
at
different
price
earnings
(PE)
valuations,
as
do
different
sectors
within
those
markets.
“No
two
companies
are
exactly
the
same
or
have
the
same
news
flows
and
history
or
connections.
These
are
all
subjective
elements,
which
have
an
impact
on a
company's
valuation.
“Maybe,
it
is
the
perception
and
impression
that
markets
like
Singapore,
which
have
a
more
international
flavor
and
acts
as
an
entry
point
into
Southeast
Asia,
carry
a
premium,”
an
analyst
said.
