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Market manipulation is the deliberate attempt to interfere with the free and fair operation of the market by creating false or misleading appearances with respect to the price of or market for a stock, commodity, currency or product.
Stock market manipulation is the act of artificially inflating or deflating the price of a stock or otherwise influencing the behaviour of the stock market for personal gain. Manipulation is illegal in most cases, but it can be difficult for regulatorsand other authorities to detect.
Section 198(1) of the Securities and Futures Act provides that a person shall not carry out two or more transactions in securities of a corporation which will have the effect of affecting or maintaining the price of the securities, with intent to induce other persons to subscribe for, purchase or sell securities of the corporation or of a related corporation.
Types of manipulation
There are many ways of manipulating the stock market, limited only by the creativity of the perpetrators.
The box, “Types of Market Manipulations” describes the basics of four major types of stock market manipulation. Other types of manipulations go by labels such as “pools”,“lure and squeeze”, “quote stuffing” and “cornering the market”.
Download PDF to learn more about Stock Manipulation
GEM Exclusive- Investment Idea-PEC
PEC Ltd.
Price: $0.60; Mkt cap: $152.5m;
NAV: $0.898, Net cash/share: $0.255
P/B: 0.67x, 2018 P/E: 14.6x, Ex-cash PE: 8.4x,
Dividend yield: 3.3%
Free float: 33.4%
Value play- At 0.7x P/B, of which $0.255/share is net cash, $0.024 is investment property, $0.202 for accrued income (revenue from services earned but not invoiced yet), PPE of $0.304.
Receivables more than offset payable – Accrued income has been increasing from S$0.08/share (S$20m) in FY16 to currently S$0.184/share (S$47m) at end of FY18.
Maintenance income has been rising over the years- Rose by 50% from 2016 to $226m in FY18, 67% of total revenue. EBITDA margins for it has been stable to rising at 24.2% at 2018. The contracts due date maybe a risk to the Company
Solid order book of $279.4m as at end of 2018– This excludes maintenance contracts which form 67% of FY18 revenue. if we assume substantial of the order book will be recognised in 2019-2020, will translate to about $125m of annual revenue, (at least safely comparable to 2018). Orderbook is highest at least over the last 3 years. PEC recently secured another S$100m in new contracts in Apr 19.
A very positive outlook- Citing investments in Refining and Petrochem projects to come onstream in Asia and Middle east in next 5 years, and IMO decision to reduce bunker sulphur levels to 0.5% to result in investment by refiners to comply to the regulation.
Price supported by consistent share buybacks, In the meantime, 3% dividend yield to wait. Additionally, shareholders be rewarded with a small mini special dividend happened in 2016/2017, of 0.005 or 0.01, translates to 4-5%
Chartwise, after correcting from as high as $0.74, seem to have found a base at $0.56, amidst all the positive development and earnings, are prices ready to go higher? Prices have already broken higher with greater than average volume. If we assume profit revert back to about $18m (average of 2017 and 2016), it will be about 5-6x ex cash PE.
So far, profit has surged in 1H19, revenue +33%, GP +18%, Net profit +74%- attributable to revenue increase from project works and maintenance.
Synagie Expands its Footprint in Vietnam
- The Group marks its inaugural foray into one of the fastest growing e-commerce markets – Vietnam
- On boards one of the world’s biggest luxury beauty companies as brand partner for
Vietnam
Synagie Corporation Ltd. (SGX: V2Y) (“Synagie”, “思腾控股有限公司”, the “Company”, or the “Group”), Singapore’s No 1 fastest growing technology company in 2018 according to Deloitte Fast 500 Asia Pacific, is delighted to announce its inaugural foray into one of the fastest-growing e-commerce markets – Vietnam, as it extends its strategic regional expansion. The Company has signed on one of the world’s biggest luxury beauty companies as its first brand partner who will use the Company’s ecommerce enablement solutions to help them grow in the Vietnamese market.
Chief Executive Officer and Executive Director of Synagie, Mr Clement Lee commented, “In 2019, we have achieved another commendable milestone as we paved our way into Vietnam, one of the fastest growing e-commerce markets that is set to thrive and boom. Vietnam’s flourishing e-commerce landscape is undoubtedly poised for massive growth and we are well-positioned to benefit from it. As we chart further growth in the year ahead, we look forward to creating more revenue synergies and will continue to be on the lookout for opportunities to extend our business service offerings in other markets with untapped potential, especially Philippines.”
UnUsUaL is bringing Walking with Dinosaurs to Singapore from 29 Aug 2019
UnUsUaL Entertainment Pte. Ltd. (“UnUsUaL”), a wholly-owned subsidiary of UnUsUaL Limited, and Sliding Door Entertainment Pte Ltd, will be presenting “WALKING WITH
DINOSAURS – The Arena Spectacular” in an Asia Tour comprising 117 shows across a total of 11 cities. The Tour is expected to commence in the second half of 2019. See Press Release
WALKING WITH DINOSAURS – The Arena Spectacular” is based on the award-winning BBC Television Series and is produced by Global Creatures. The $20 million globally-acclaimed production has been watched by over 9 million people in more than 250 cities, underlining its position as the biggest and best dinosaur show in the world
HC Surgical will represent as AIA’s Sole Screening Service Provider for colorectal cancer
The Group has been appointed exclusively by AIA to provide health services for eligible policy holders (age 50 and above). This exclusive appointment is expected to generate additional recurring revenue stream for HCSS
On-demand app that targets the pocket insurance market – where premiums are low enough to be paid with pocket change
Instant protection for consumers’ digital lifestyle with policies that cover personal gadgets, family and cyber risks
Kiasu.me offering its first product – Device Shield, a 12-month accidental screen damage protection that comes with an app-based concierge service for free pick
ups and returns during repair
Singapore, September 25, 2018 – Vividthree Holdings (OMK:SI), a virtual reality (“VR“), visual effects and computer-generated imagery production studio (“Vividthree“, the “Company” or the “Group“) today made its successful listing on the Catalist Board of the Singapore Exchange Securities Trading Limited (“SGX-ST“). The placement of 51,800,000 new shares (“Placement Shares”) priced is expected to raise gross proceeds of S$12.95 million.
To read more about the press release, click here.