The Singapore Exchange has had a string of bad news in recent months. It missed out on some high-profile stock listings such as home-grown mobile gaming device company Razer that chose to list in Hong Kong, delistings, and losing the MSCI indexing license after 23 years.
All these were put to CEO Loh Boon Chye in an interview on ChannelNews Asia, and he maintained a positive and enthusiastic disposition while responding to difficult questions with ease, which is why he is our shortlisted nominee for the Hong Bao Media Savvy Awards 2020.
Read on for my assessment below.
We launched the Hong Bao Media Savvy Awards in 2018 to recognise local business leaders for their media interview skills, and to showcase authentic and credible home-grown communicators.
Supported by the Asia Pacific Association of Communications Directors, we highlight shining examples for other local business leaders to follow, and to build a culture of excellence in communication, to maximise the potential of Asian companies in the Asian Century.
Nominations close October 31, 2020 at www.mediasavvy.asia.
Loh backed up his points with numbers. Explaining why FX futures is a growth area for the SGX, he said the overall FX market is the largest globally, with trades worth US$6.6 trillion daily, while the FX futures market is a small percentage of that, at about 2%.
In answer to a question about an acquisition, Loh flagged that he would talk about three points. He said the future of the FX market depends on:
- Price transparency
- Bigger pools of liquidity
- How the workflow process for customers can be more effective and efficient
- Credible responses to difficult questions
Loh was asked by interviewer Dawn Tan how MSCI ending its 23-year partnership with SGX will affect its derivatives business. Instead of being hung up on the loss of MSCI, Loh mentioned that the exchange’s existing businesses and new divisions are expected to grow, and SGX is offering new products such as ESG variations of their benchmark contracts.
Tan also asked how SGX is dealing with companies delisting from the exchange. Loh did not get stuck and instead said companies see an IPO as the first step in a journey, and pointed to the fact that companies listed on the SGX have in the last five years raised “four times in the secondary market compared to when they first listed.”
If you know Loh Boon Chye, share this article with him and congratulate him on being nominated for the Hong Bao Media Savvy Awards 2020.
If you have what it takes, nominate yourself or your senior business leader for the Hong Bao Media Savvy Awards 2020!