Singapore takeover bid for ASX questioned
Friday, October 29, 2010
On Monday, the Singapore stock exchange (SGX) made a multi-billion dollar bid, which has yet to obtain regulatory approval, for the firm that owns the Australian Stock Exchange (ASX).
If approved, the $8.3bn (£5.2bn) deal would be the first stock exchange merger in the Asia Pacific region.
Whilst celebrating milestones in inclusivity, with notably P5 billion awarded to vulnerable groups, the report sounds a 'siren' on a dangerous and growing trend: the ballooning use of micro-procurement. That this method, designed for small-scale, efficient purchases, now accounts for a staggering 25% (P8 billion) of total procurement value is not a sign of agility, but a 'red flag'. The PPRA’s warning is unequivocal and must be...