A full service telecom company in Singapore, page-25

While you (sort of) "jest", you also make a valid point.

A further factor may be that on some trading days, TUA's scrip turnover is low, so that mitigates against a broker being easily able to scoop up many shares at what he or she considers an 'acceptable' price.

I completely agree with adam a - thus far, TUA has done well: it may soon be generating fair (not stunning, at least not initially) net profits that to my mind will be an outstanding achievement given the numerous substantial setup costs and how it's competing against companies that have been in Singapore for quite some time.