Blumont

Singapore Exchange (SGX) will lift the suspension of securities in Blumont Group Ltd (Blumont) on Monday, 7 October 2013, at 8.30am.

SGX concurrently declares Blumont and its related securities as Designated Security with the following trading restrictions:-
(i) Prohibited sale of shares unless the seller holds the Designated Securities in the quantity to be sold; and
(ii) Prohibited purchase of shares unless the buyer makes cash payment at the time of order execution.

SGX will continue to monitor the trading of Blumont and review the circumstances in due course to end the declaration.


Does anyone know how to make cash payment at the time of order execution? U have to be at the broker and hand over the cash???

With restrictions like this, Blumont will resume diving into the deep pool. Hit bottom @ 20 cents?

yr acc hv to be funded first b4 u can buy. else trade get rejected.

I heard you have to have transferred money either by cash or EPS into your account first before can buy. This is very artificial market for Blumont. It creates a powerful downward pressure on the stock price. Hmmm.... I am thinking of picking up some Blumont if it falls to below 8 cents.

Be wary of entering the stock, even if it falls another 30%. After a plunge like the one it went thru, Blumont could have many ripple effects that we can't see. For ex., what is going to happen to the many millions of dollars of Blumont stock bought on the way up and on the way down too? When do they come due and what is on the minds of the holders? Lots of volatility and uncertainty.

Why join after the party is over?

RED FLAG:

Insider Executive Chairman Neo Kim Hock had been selling rights & shares even BEFORE the suspension of 4 Oct without reporting to SGX till yesterday nite at 2336 hrs (Co Announcement no.171):

Wed (2 Oct): 4.0m rights at $2.2956 = $9,182,400

Thurs (3 Oct): 3.445m rights at $2.14 = $7,374,022

Fri (4 Oct): No announcement. Suspension day.

Mon (7 Oct): 500,000 shares at $0.1844 = $553,200

According to the sgx filing on 7 Oct, it was " sales due to Bank forced selling"

xtraderx ( Date: 07-Oct-2013 23:15) Posted:

The SSHs are holding over a billion shares of blumont, they are dead if blumont goes back to $0.02, this is an exercise to support the price, but will confidence return so easily?

Jackpot2010 ( Date: 07-Oct-2013 22:46) Posted:



Beware. Insider run road liao - Executive Chairman Neo Kim Hock is the 1st person to jump this (sinking) ship.

Neo Sold 95m of his shares to one ang moh who is taking over his post. Neo then redesignated to Non-executive director (i.e. hands-off day to day operations). Another insider also sold 40m shares to this same ang moh. This person is not named but could be Ng Su Ling (just wild guess).

The indicative price for the above sale @ 40c is questionable - its shows that insiders gave a low valuation of Blumont Group, nothing close to its previously traded price before its collapse of over $2. Even then why should the ang moh buy at 40c instead of 13c via open market transaction.

There are still lots of unanswered question on this co.