asx not sing_sx, page-15

Hi IMunro,

Point 1: I dont see what a lack of corruption has to do with whether it is in Australias national interests. If it suited the leaders of Singapore to mess in the details of the running of a joint exchange, its nothing to do with anyone paying someone to ignore their duties. The Singapore leaders and government itself would just be playing by rules to weight the playing field in their favour which generally westerners are quite naive about.

Point 2: Stating it as just an IT company is simplistic. The ASX sets rules which list requirements for prospectuses read by mums and dads and upcoming retirees to invest their savings. Letting another country officiate that is clearly not in our national interests.


Who would set the rules for prospectusses on the joint exchange?.. Lets say the Lee Kwan Yew family or the Singapore Government was raising capital for a company of which it had a major shareholding.. What if Australian ASIC had an issue with the way the prospectus was worded... lets say it happenned to be deceptive. Lets say it was a rights issue on unfair terms to small investors. What could it do about it? Absolutley nothing. And if it asked the Australian government on its behalf, what could they do... or what would they do?.. nothing if the US says "shut up, Singapore is a nice place for docking our ships in South East Asia."

Id say it would be far simpler to keep our National interests safe and keep the ASX here. Our relationship with Singapore is best served by keeping the ASX here quite frankly.