Three-Quarters Of Retail Investors Want ASX-SGX Deal Blocked

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On paper the ASX-SGX merger seems a good deal for all shareholders, however the tie-up looks to have hit a hurdle on a "national interest" basis.

The national interest debate continues to rage over the pending sale of the Australian Stock Exchange to the Singapore Exchange. ShareScene.com, one of Australia's leading stock forums, has taken this question to its members through a poll and they have replied emphatically that the sale should be given the 'thumbs down'.

77% of ShareScene members have responded to the poll in the affirmative that the Sale of the ASX is a bad decision for Australia and Australian Investors.

ShareScene Director, Mr Tim Suter, said that "Our poll of ShareScene members has clearly shown, as it has with other leading stock market media companies that they are not in favour of the sale given that the Australia Stock Exchange is the key institution on which our capital markets revolve."

The final decision on whether the deal goes ahead will rest with the Federal Treasurer following consideration by the Foreign Investment Review Board. The deal also requires parliamentary agreement to drop the limit of 15 per cent foreign ownership in the ASX.

Mr Suter said, "For the transaction to take place, there are still a number of significant hurdles to clear. Whilst the ASX and SGX are making the case to all stakeholders that theirs is the best option available, clearly the government before making their final decision need to consider market and consumer sentiment which is clearly against the sale occurring."

About ShareScene.com:

ShareScene launched in 2001 and is now recoginised as the leading finance forum for the smart investor. ShareScene is an online networking and information website for Australian investors.

ShareScene enables investors in the Australian market to exchange ideas and opinions about companies and discuss issues regarding investment, events and the financial analysis of companies in a secure yet open environment.

ShareScene is frequented by high net worth individuals that are experienced long term investors. The membership primarily consists of company executives, experienced and professional investors.

Visit ShareScene at http://www.sharescene.com.

For any further information please call:
Mr. Tim Suter on (612) 9328 2901
Director
Digifi Group Pty Ltd

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