Singapore’s Blumont Group slumps 80 percent after trading halt lifted; Asiasons Capital tumbles, requests trading halt continue

October 7, 2013 Leave a comment

Blumont Group slumps 80 percent after trading halt lifted

Monday, Oct 07, 2013, Reuters

SINGAPORE – Shares in Blumont Group Ltd fell 80 per cent in early trade to around S$0.18 after trading resumed following a halt imposed by Singapore Exchange on Friday. Singapore Exchange Ltd halted trading in Blumont, along with Asiasons Capital Ltd and LionGold Corp after their stock prices plunged. The bourse said on Sunday it would allow trading in those stocks to resume, subject to restrictions that included a ban on short selling. LionGold has requested its trading halt continue due to a pending announcement.

Asiasons Capital tumbles, requests trading halt continue

Monday, Oct 07, 2013, Reuters

SINGAPORE – The share price of Singapore-listed Asiasons Capital Ltd dropped as much as 90 percent to S$0.17  after a  trading halt was lifted on Monday. Singapore Exchange Ltd suspended trading in Asiasons and LionGold on Friday, along with Blumont Group Ltd after a plunge in their share prices. Blumont shares resumed trading, down 81 percent to S$0.167. Asiasons Capital Ltd requested on Monday that trading in its shares remain halted. Asiasons followed LionGold Corp in asking for trading halt due to a pending announcement. The bourse said on Sunday it would allow trading in those stocks to resume, subject to restrictions that included a ban on short selling.

Filed under Investing Process, Macro Trends

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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