Did SGX publish a “fake news” on its website?

by Vincent Low

Yesterday (9 Feb), listed company Fraser Property published a public clarification with regard to a piece of false news on one of its listed entity, Frasers Centrepoint Trust.

Company Secretary Catherine Yeo, acting for Frasers Centrepoint Asset Management Ltd which is the manager of Frasers Centrepoint Trust, clarified that a posting appearing on Singapore Exchange (SGX) website did not originate from Frasers.

Most importantly, she said that the posting is not true.

“The Manager wishes to clarify that the Posting did not originate from the Manager and the information in the posting is untrue,” Ms Yeo said. “SGX has been informed.”

The said posting was published on SGX website with the title, “Frasers Centrepoint Trust (SGX:J69U) acquired one-third stake in Waterway Point from Frasers Centrepoint Limited (SGX:TQ5).”

Frasers, therefore, advised its unit holders to exercise caution when dealing in the units of Frasers Centrepoint Trust.

It’s not known how the “fake news” got onto SGX website.

SGX is an investment holding company located in Singapore and provides different services related to securities and derivatives trading and others

Govt sets up Select Committee to tackle fake news

Meanwhile, a Select Committee chaired by Parliamentary Deputy Speaker Charles Chong was set up last month to recommend how Singapore can tackle fake news. They can range from “rumour mongering” at the coffee shop to sophisticated state-sponsored disinformation campaigns with nefarious aims to harm Singapore, said Mr Chong. (source)

The committee has received more than 20 submissions so far and will conduct public hearings in the second half of March.

Mr Chong said he intends to invite tech giants Google and Facebook to give their views and added that he has asked his committee members to canvass for more views because just 20 submissions are hardly enough for two weeks of hearings of around eight hours per day.

The call for submissions ends by Feb 28, and the committee will meet on March 5 to review the submissions and decide who should testify at the public hearings.

PAP MP asks her friends to give views too

One of the committee members, PAP MP Rahayu Mahzam, told ST that she needs to double her efforts to get more views. “I have been telling my friends (that) it doesn’t have to be a well-researched paper. An experiential account can be useful for us to identify a range of views too,” she said.

“The more submissions and feedback we get, the better we can come up with recommendations,” another committee member PAP MP Seah Kian Peng said.

The committee of 10 is made up of 8 PAP MPs, 1 WP MP and 1 NMP. A decision is reached through a majority vote.

Ultimately, fake news affects everyone, said Mr Chong.