SINGAPORE: Singapore Exchange Ltd’s role as the city-state’s equity market regulator is coming under increasing scrutiny in the fallout from a penny stock crash earlier this month.
The sudden implosion of Blumont Group Ltd, LionGold Corp and Asiasons Capital Ltd after huge run-ups in their share price earlier in the year had turned them briefly into billion dollar companies – left many in the market mystified and raised question marks over whether the exchange missed red flags and was too slow to act.
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