Authorities are investigating insider trading of SMRT shares.

[Merl Haggard]

Spike in transport shares being probed

The authorities are looking into why land transport stock prices soared just before a landmark restructure of the bus industry was announced.




By Christopher Tan, Senior Correspondent.



The authorities are looking into why land transport stock prices soared just before a landmark restructure of the bus industry was announced.

The Straits Times understands at least one police report has been filed pertaining to the spike in SMRT and ComfortDelGro shares on May 20. That was a day before the Government said it would assume ownership of all buses and depots, and that transport firms would bid for routes to operate in competitive tenders.

The investment community views the change as largely positive for transport companies.

Community worker and National Solidarity Party member Ravi Philemon, 46, lodged a police report last Saturday. He did so after reading a newspaper article on the share price spikes, "which troubled me a lot", he said yesterday.

 

[scroobal]

Wow they are trying front run Ravi Philomen by claiming that someone else reported it to the Police before he did. How about telling us who did.

Spike in transport shares being probed

The Straits Times understands at least one police report has been filed pertaining to the spike in SMRT and ComfortDelGro shares on May 20. That was a day before the Government said it would assume ownership of all buses and depots, and that transport firms would bid for routes to operate in competitive tenders.

The investment community views the change as largely positive for transport companies.

Community worker and National Solidarity Party member Ravi Philemon, 46, lodged a police report last Saturday. He did so after reading a newspaper article on the share price spikes, "which troubled me a lot", he said yesterday.

 

[rushifa666]

You beat me to it. Even in this kind of ugly news where there is no good angle they still try to polish a turd

 

[ReadySteadyGO]

Now still can buy the share?

 

[krafty]

smrt bus business is ok but it's brought down by the train business, too much overhead cost involved in the overhaul.
but australia bus company tower transit is coming to s'pore, expect fare hike again from the 3 bus operators.
having worked with them before, i doubt there is much to gain by buying their shares even in the long run.

http://www.channelnewsasia.com/news/singapore/australian-bus-operator/1117826.html

Now still can buy the share?

 

[ReadySteadyGO]

smrt bus business is ok but it's brought down by the train business, too much overhead cost involved in the overhaul.
but australia bus company tower transit is coming to s'pore, expect fare hike again from the 3 bus operators.
having worked with them before, i doubt there is much to gain by buying their shares even in the long run.

http://www.channelnewsasia.com/news/singapore/australian-bus-operator/1117826.html

Or maybe can long comfort and retired comfortably .

 

[frenchbriefs]

fuck sia,singapore so many insider trading case?how come i never get lobang?knn can give a peasant a chance boh?

 

[ReadySteadyGO]

fuck sia,singapore so many insider trading case?how come i never get lobang?knn can give a peasant a chance boh?

The market is always there, a lot of chances when you login your trading platform, and you would end up either positive or negative.

 

[sochi2014]

you want people here get arrested for insider trading?

 

[krafty]

the perception of these GLCs will always be flying high must be changed. flowers don't bloom everyday...

Or maybe can long comfort and retired comfortably .

 

[laksaboy]

Corrupt means corrupt. No need to talk so much. :kma:

 

[Michigan]

What is the price of the shares now?

 

[mojito]

People in the know,
Should never say no,
To a 20 percent grow,
In the stocks they hold!

 

[jw5]

Don't hold your breath in anticipation.

 

[bakkuttay]

the finding

everthing is in order, no misdemeanor.

 

[Papsmearer]

the finding

everthing is in order, no misdemeanor.

That is the plan already. The fact that CPIB and SES have not opened any investigation at all into this event prompted Ravi to file a police complain. All this is bullshit outright corruption.

April 23rd - Desmond Quack makes a presentation to the govt. to sell its money losing rail business to them.
April 25th- Stocks of SMRT, Comfortdelgro, and SBS Transit see very high trade volumes, and record one day increases in price. SMRT shares up 21% in one day, Comfortdelgro up 7%, and SBS Transit up 3%. If you tie up $500K in SMRT shares on the 24th, you make just over $100K in one day. Shiok or not?

The moment that Desmond Quack when to the govt. to propose the sale of all the rail assets, trading in the shares should have been suspended right away. The fact that it was not suspended is very suspicious and gives opportunity for insiders who know about the sale proposal to stock up on the shares first. In fact the correct procedure for Desmond to sell is to find a suitable buyer in the international or local market for the rail assets. whether there is one or not is irrelevant, he has to try to sell it to the highest bidder. This forces the true market value of the SMRT rail business to come out. If the highest bidder they can find is only willing to pay $1billion, and the Singapore govt ends up buying it for $2 billion, than we all know the taxpayers and citizens of singapore have just overpaid $1 billion for an asset. This kind of sale is just as bad as the insider trading component. For sure, Desmond has already send up the trial balloons long ago before he even dare to go to see them on April 23rd. The govt. must have been receptive it, and essentially, at this level, the proposal is a fait accompli. It will pass, and it will be accepted and there will be a sale. At a price that is almost certainly overpaying.

Once again, PAP screw citizens.

 

[mojito]

Nothong wrong with supporting home grown industries, and profiting from it. Disbelievers like Ravi are simply green eyed that they are left in the dust while patrotic singaporeans rake in the dough. Such is life!