SG Talk

In local SGX got what saga

i still got the fridge running

(30-11-2024, 06:50 PM)grotesqueness Wrote: [ -> ]i still got the fridge running

pan el is associated with MCA chief tan koon swan ncity dev make hugh gain buying orchard hotel fr pan el

(30-11-2024, 06:54 PM)talky Wrote: [ -> ]pan el is associated with MCA chief tan koon swan ncity dev make hugh gain buying orchard hotel fr pan el

I saw CNA remake this sage what saga? That time I still a xdd

Pan electric saga in our stock market history is very prominent one.

Heard from old tmers.

Had to do with the stock being pledge to borrow and buy other stocks. When collapse caused a chain effect drag collapsed a few brokerages.

Anyway malaysian side got MCA political star kena brought down and jailed by the saga. Later Glenn Knight admitted the conviction was wrong and later thatvperodn became very successful  cant remember his name.

(30-11-2024, 07:00 PM)[[ForeverAlone]] Wrote: [ -> ]I saw CNA remake this sage what saga? That time I still a xdd

pan el affairs also caused sgx for the 1st time suspended trading for 3 dys

remisers deposit could not get back fr broking house

remember carrian
developer no need to build property to make money. just over whole development then resell.

Pan-Electric Industries was a Singapore-based company that specialised in marine salvage work, and had 71 subsidiary companies, including hotel and property interests, with a market capitalization of S$230 million.[1][2] The company collapsed in December 1985[3] due to massive unsettled forward contracts, forcing the Stock Exchange of Singapore (SES) and Kuala Lumpur Stock Exchange (KLSE) to shut down for three days.[4][5] At its demise, the company had a total debt of S$480 million, and all its shares held by 5,500 shareholders were found to be worthless overnight. As of 2000, it remains the largest corporate collapse in Singapore's history, and the only instance where the SES had to be unexpectedly closed.[1]

In the aftermath of the collapse, key people in the company such as Peter Tham, Tan Kok Liang, and Tan Koon Swan were prosecuted and given varying jail sentences. The collapse of the company shook public confidence in the SES, causing prices of stocks to plunge and resulted in the bankruptcy of some stockbroking firms.[6] New securities laws were introduced in March 1986 to ensure that stockbroking firms could protect themselves against credit risks.[1][7]

https://en.m.wikipedia.org/wiki/Pan-Electric_Industries

Aiya anyb9dy still remember ABL saga in Singapore ? That Guy how got released from jail boh ?

The Pan Electric crisis was a major financial scandal that led to the closure of the Singapore stock exchange for three days. Here's a simplified explanation of the forward contracts that contributed to the crisis:

*Forward Contracts*

Forward contracts are agreements between two parties to buy or sell an asset at a predetermined price on a specific date. In the case of Pan Electric, the company's management entered into forward contracts with several brokerage firms to sell shares of Pan Electric at a fixed price.

*Over-leveraging and Margin Calls*

The management of Pan Electric had over-leveraged themselves by entering into these forward contracts, hoping to profit from the expected rise in the company's share price. However, when the share price began to fall, the brokerage firms issued margin calls, demanding that Pan Electric's management deposit more funds or sell the shares to cover the losses.

*Cascading Effect and Market Panic*

The management of Pan Electric was unable to meet the margin calls, leading to a cascading effect on the stock market. Other investors, who had also entered into forward contracts, began to panic and sell their shares, causing the stock price to plummet further. This led to a sharp decline in the overall stock market, prompting the authorities to close the stock exchange for three days to prevent a complete market collapse.

The Pan Electric saga highlighted the risks associated with forward contracts, over-leveraging, and market speculation. It led to significant reforms in Singapore's financial regulations and the establishment of the Monetary Authority of Singapore (MAS) to oversee the financial sector.

I guess those been involved get jail already RIP ? So long

(30-11-2024, 07:16 PM)ysh02 Wrote: [ -> ]Aiya anyb9dy still remember ABL saga in Singapore ? That Guy how got released from jail boh ?

This one how the story and whether those guys released from jail ?

(30-11-2024, 07:28 PM)[[ForeverAlone]] Wrote: [ -> ]I guess those been involved get jail already RIP ? So long

About 40 years only lah....many still alive now I think....

(30-11-2024, 07:34 PM)ysh02 Wrote: [ -> ]About 40 years only lah....many still alive now I think....

I doubt so , even yes must be already 90s

becos of this pan el affairs my boss(mgr post) n his wife loss a lot 
he mentioned to me pan el only theni i took notice n pay attention to its development