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  • Bursa Malaysia Announces RM63.8 Million Profit After Tax And Minority Interest (“PATAMI”) For The First Quarter Of 2018

    Date 25/04/2018

    Bursa Malaysia Berhad (“Bursa Malaysia” or “the Exchange”) registered a Profit After Tax and Minority Interest (“PATAMI”) of RM63.8 million for the first quarter ended 31 March 2018 (“1Q2018”), an increase of 12.6% from RM56.6 million reported in the previous first quarter ended 31 March 2017 (“1Q2017”), and an increase of 15.4% compared to the preceding quarter ended 31 December 2017. Both cost-to-income ratio and annualised return on equity (“ROE”) saw improvements by 3 and 4 percentage points respectively. The growth in PATAMI is primarily due to higher operating revenue of RM144.8 million, a 7.5% increase from the previous corresponding quarter. Earnings per share for the first quarter rose to 7.9 sen from 7.0 sen in the previous corresponding quarter (after adjusting for the effects of the bonus issue).

  • Shenzhen Stock Exchange Keeps Intensifying The Regulation On Environmental Disclosure, With Resolutions To Win The Pollution Control Battle

    Date 25/04/2018

    Recently, there have been successive events of environmental violations happened among listed companies. CCTV reported on April 17 that Shanxi Sanwei Group made seriously damages to the surrounding ecology with illegal dump and discharge of industrial residues and wastewater. On April 20, the Ministry of Ecological Environment imposed a circular on Jiangsu Huifeng Agrochemical Co., Ltd. (referred to as “Huifeng”) for its violations of environmental regulations. According to the circular, Huifeng has issues of illegal disposal, transfer and storage of hazardous wastes, long-term secrete discharge of high-concentration toxic and harmful wastewater, as well as irregular running of treatment facilities.

  • Securities Commission Malaysia: The AOB Sanctions Auditor For Poor Quality Audit Work

    Date 25/04/2018

    The Securities Commission Malaysia’s (SC) Audit Oversight Board (AOB) reprimanded and fined Tang Boon Hiap of CHI-LLTC a sum of RM225,000 for failure to comply with the International Standards on Auditing when auditing a public-listed company. Compliance with auditing standards when auditing the financial statements of a public-interest entity is a condition of registration for AOB registrants.

  • Shenzhen Stock Exchange Further Optimizes Regulatory Procedures And Continues To Run The Market Based On The Rule Of Law

    Date 25/04/2018

    SZSE upheld and implemented comprehensive strict regulation according to law in 2017, issuing 103 disciplinary decisions and taking self-regulatory measures for 2282 times. Meanwhile, SZSE was also standardizing the regulatory procedures, trying to safeguard substantive justice with procedural justice. With the Self-disciplinary Regulation Hearing Procedure and Hearing Review Committee Working Procedure amended and released recently, SZSE has improved the hearing and review procedures for frontline regulation, a further step taken to govern the market by rule of law.  

  • Statement On Manufactured Credit Events By CFTC Divisions Of Clearing And Risk, Market Oversight, And Swap Dealer And Intermediary Oversight

    Date 24/04/2018

    The Commodity Futures Trading Commission (CFTC) Divisions of Clearing and Risk, Market Oversight, and Swap Dealer and Intermediary Oversight today issued the following statement regarding manufactured credit events in connection with credit default swaps (CDS):
     
    "The CDS market functions based on the premise that firms referenced in CDS contracts seek to avoid defaults, and as a result, the instruments are priced based on the financial health of the reference entity.  However, recent arrangements appear to involve intentional, or ‘manufactured,’ credit events that could call that premise into question. In a public statement dated April 11, 2018, the International Swaps and Derivatives Association’s (ISDA) board of directors criticized manufactured credit events, writing that they ‘could negatively impact the efficiency, reliability, and fairness of the overall CDS market,’ and ISDA’s board indicated that it advised its staff ‘to consult with market participants and advise the Board on whether...amendments to the ISDA Credit Derivatives Definitions should be considered’ to address manufactured credit events."