SES not to blame for losses

SES not to blame for losses

SINGAPORE (Bloomberg): Investors who lost money in Singapore's over-the-counter, or Clob market amid the country's dispute with Malaysia shouldn't blame the Stock Exchange of Singapore, said Lim Choo Peng, the president of the exchange, the Straits Times reported Saturday.

Singapore regulators thought they had an agreement on the transfer of Malaysian shares traded in Singapore back to Malaysia after the country unveiled capital controls and new investment rules.

Lim said he does not know why Malaysian regulators now say there is no such agreement, and that the circumstances did not warrant a halt in trading this week.

More than 200 small investors went to the Stock Exchange of Singapore's offices yesterday to seek clarification on the new rules, which have sent the UOB OTC Index that tracks the exchange down 19 percent since the controls were unveiled.