It is considering a proposal to allow dual-class share listings. Garena’s reported decision to list in the US instead of in Singapore will be another blow. More recently, the exodus of companies from Singapore’s bourse has led to a shrinkage in the total market capitalisation of SGX. Subsequently, the glitches in the trading system drew international attention to SGX’s problems.
In 2013, the penny stocks crash wiped $8.7 billion off the markets in a few trading sessions. SGX has been confronted by one crisis after another in recent years. What can be done to restore confidence in SGX? Wong Kok Fai, a trader with Azurewing Asset Management said, “We’re badly affected, one minute means a lot to a high-frequency trader and it took SGX 30 minutes before it communicated there was something wrong.”
At that time the Monetary Authority of Singapore issued a rebuke and imposed a moratorium on fee increases.
GARENA CHINESE PATH OF EXILE WEBSITE SOFTWARE
In late 2014, there were two disruptions, one due to a software error and another because of a power failure. This was not the first time that SGX faced this type of problem. Trading remained suspended for the rest of the day. At 11.38am on the 14 th of the month, SGX authorities closed the exchange as duplicate trade confirmation messages were being generated. Last year in July, the Singapore Exchange crashed because of a hardware problem. Shutdown has undermined confidence in SGX The major shareholders were of the view that the companies were worth much more than what their share prices indicated. What has led to this exodus? One line of thinking is that privatisations have been more common in those industries where valuations have been low. In 2014, it started AirPay, a payment service, and in the next year, it launched Shopee, an ecommerce marketplace. Garena started as a chat platform in 2009 and then moved into the content and game delivery business. Two of the growth areas are expected to be ecommerce and financial services, both of which Garena has a presence in.Īccording to Group president Nick Nash, the Singapore-based company is like its Chinese investor, Tencent, in many ways. A study by Google and Temasek estimates that the internet economy in Southeast Asia will be US$200 billion by 2025. Garena is well-positioned to cash in on the internet boom that the region is witnessing. Tencent has provided the company with a licence for League of Legends for Taiwan and Southeast Asia. Its relationship with Garena is not limited to just a financial stake. It is estimated that Tencent holds about 30% in the company. In 2015, the company’s Garena+, its game and social platform had over 100 million users. While gaming is its mainstay, Garena is also active in communication tools, mobile social networks, and payments. There are four primary areas in which the tech company concentrates. The company’s gaming platform includes highly popular titles like League of Legends, Path of Exile, and FIFA Online. In March 2015, the Ontario Teachers’ Pension Plan took part in a round of funding when Garena was valued at US$2.5 billion. Southeast Asia’s highest-valued technology startup
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