Misplaced Pages

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45-465: In December 2021, the company announced a reorganisation under the newly formed parent company Caldecott Music Group (CMG). BandLab Technologies is the music technology division of CMG. BandLab Technologies was founded in 2015 by Kuok Meng Ru and Steve Skillings. Kuok was a Singaporean mathematics graduate from Cambridge University who is the son of agribusiness conglomerate Wilmar International 's billionaire founder and CEO Kuok Khoon Hong , and Skillings

90-529: A dark pool trading platform. On 8 June 2010, SGX announced it has opened an office in London. This is part of SGXs move to invest S$ 250 million into its Reach initiative. By implementing this initiative, SGX plans to create the world's fastest trading engine and a data centre as well as further connecting trading communities in the world to Singapore. The new trading platform, SGX Reach, will be delivered to SGX by NASDAQ OMX , Voltaire and HP . This platform

135-745: A 4.99% stake in SGX. Since then the value of the shares has declined and the Tokyo Stock Exchange, Inc. has made a decision to sell the shares it holds in SGX to its parent company, the Tokyo Stock Exchange Group, Inc. On 31 January 2008, SGX acquired a 20% stake in Philippine Dealing System Holdings Corp , which has become an associated company of SGX. On 18 April 2008, SGX opened a representative office in Beijing . At

180-493: A No Deforestation, No Peat & No Exploitation Policy (NDPE policy) for both its own operations and third party suppliers. It promised to stop buying from suppliers who cleared forest, drained peat land, or exploited locals. This was lauded as a transformational step towards responsible and sustainable palm oil development. Preliminary analysis estimated that Wilmar's commitment would eliminate more than 1.5Gt CO 2 emissions in total between 2016 and 2020. In 2015, Wilmar won

225-592: A joint venture between SGX and Chicago Board of Trade (CBOT) became operational. However, this joint venture was cancelled in November 2007, with CME Groups selling of its 50% stake in the joint venture to SGX. The contracts previously traded on JADE were transferred to SGX's QUEST trading platform. In March 2007, SGX bought a 5% stake in Bombay Stock Exchange for 42.7 million dollars. On 15 June 2007, Tokyo Stock Exchange, Inc. announced that it had acquired

270-960: A multinational workforce of more than 100,000 people. Wilmar's merchandising and processing segment encompasses merchandising of palm oil and laurics -related products, operations of palm oil processing and refinery plants and crushing, further processing and refining of a range of edible oils, oilseeds , grains and soybean . Its consumer products include edible oils, rice, flour and noodles in China, Indonesia, Vietnam and India. Its plantation and palm oil mills segment engages in oil palm cultivation and milling . Wilmar has come under criticism for its exploitation of child labour and slave labour , as well as unsafe working conditions on its plantations amidst other worker mistreatment incidents. The company has also been exposed for its environmentally degrading practices, and forced displacement of poor populations, amongst other unethical behaviours. Unilever

315-508: A suite of OTC derivative products to reduce counter-party risks and increase liquidity. It introduced OTC trade registration and clearing for a wide range of forward freight agreements (FFA), and oil swaps. Shortly thereafter, it launched the world's first clearing and settlement of iron ore swaps and has since become the world's largest clearer of iron swaps. On 25 September 2006, the Joint Asian Derivatives Exchange (JADE),

360-582: Is a Singapore -based exchange conglomerate, operating equity , fixed income , currency and commodity markets. It provides a range of listing, trading, clearing, settlement, depository and data services. SGX Group is also a member of the World Federation of Exchanges and the Asian and Oceanian Stock Exchanges Federation . It is ASEAN 's second largest market capitalization after Indonesia Stock Exchange at US$ 609.653 billion as of September 2023. SGX

405-601: Is a Singaporean food processing and investment holding company with more than 300 subsidiary companies. Founded in 1991, it is one of Asia's leading agribusiness groups alongside the COFCO Group . It ranks amongst the largest listed companies by market capitalisation on the Singapore Exchange (SGX), being the second largest as of September 2010. It was ranked 211th in the Fortune Global 500 list in 2020. It

450-442: Is a substantial shareholder with a 5% stake or more. Relationships between chairman and CEO must be disclosed if they are immediate family members. There will be a proposed 9 year limit on independent directors as a hard limit, or the appointment of independent directors who have served more than nine years to be put to an annual vote requiring approval from majority of all shareholders and majority of non-controlling shareholders, with

495-453: Is a threat to endangered species . In 2013, Wilmar changed its approach and endorsed sustainability principles, and now encourages their suppliers and customers to do likewise. Wilmar was founded by Kuok Khoon Hong and Martua Sitorus on 1 April, 1991 and commenced operations as a palm oil trading company. Forbes named Kuok the twelfth richest person in Singapore in 2021 and Martua is

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540-667: Is based on GENIUM , a trading platform developed by NASDAQ OMX. In November 2016 the Singapore Exchange (SGX) acquired the Baltic Exchange , headquartered in London. In February 2011, SGX has entered a partnership with NASDAQ OMX to provide a suite of tools and solutions for companies, which is designed to support listed companies in Asia. SGX plans to introduce dual currency trading of securities, which includes stocks, bonds and other listed investments in two different denominations,

585-721: Is one of the main customers of Wilmar. Unilever and Wilmar are members of the Roundtable on Sustainable Palm Oil (RSPO) which brings together retailers, producers and NGOs like Oxfam and WWF . Palm oil , extracted from palm fruit pulp, is Wilmar's main product. Palm oil is the most widely used edible oil, and there are 42 million acres under cultivation worldwide. Commercial production has helped many communities in Africa and South-east Asia tackle local poverty. However, environmentalists have been concerned that such widespread cultivation has led to deforestation and air pollution , and

630-408: Is used by the exchange for derivatives and securities trading. As of 31 January 2010, SGX had 774 listed companies with a combined market capitalisation of S$ 650 billion. The revenues of SGX are mainly from the securities market (75%) and derivatives market (25%). SGX reported a net profit of $ 165.8 million for the first half of its financial year 2010. Excluding non-recurring items, net profit

675-507: The Tokyo Stock Exchange , which is the second largest shareholder in SGX. A representative of the TSE said SGX's bid for ASX "would flag off a race to consolidate". TSE chief Atsushi Saito fears isolation of the Tokyo Stock Exchange as a result of the takeover. SGX revised its initial takeover proposal in an attempt to overcome some of the opposition to the plans. This would have decreased

720-663: The United Nations Development Programme (UNDP) received a petition from the Bugala Farmers Association in Uganda related to UNDP's association with Bidco Africa Ltd. A complaint was also received by the UNDP's Stakeholder Response Mechanism (SRM) and Social and Environmental Compliance Unit (SECU). In May 2016, UNDP visited Kalangala to further investigate the issues surrounding the matter. In November 2016,

765-740: The WWF Palm Oil Association. According to Friends of the Earth Netherlands, Wilmar International starts forest fires and violates the rights of local populations. In July 2007, Friends of the Earth and two local environmental organizations criticized Wilmar's illegal forest felling in Kalimantan , in Indonesia. As a result of this campaign against Wilmar's projects in Sambas , West Kalimantan ,

810-529: The Singapore and US dollar on 2 April 2012. In October 2013, excessive speculation led to the sharp price fall of three mainboard stocks, Blumont Group Ltd, Asiasons Capital Ltd. and LionGold Corp. SGX and the Monetary Authority of Singapore (MAS) launched a review of activities around the three stocks, and in February 2014 jointly issued a consultation paper setting out a number of enhancements to strengthen

855-619: The Special Recognition Award at the Singapore Apex CSR Awards 2015 organised by the Global Compact Network Singapore, Singapore Business Federation and The Business Times. It was hailed for being the first major palm oil player to step up to ensure its supply chain is de-linked from any forest destruction and human rights abuse. Singapore Exchange Singapore Exchange Limited ( SGX Group )

900-1289: The UNDP faulted a decision inviting Bidco Ltd into partnership with the United Nations Development Programme's Business Call to Action in Uganda. On 30 November 2016, Amnesty International published a report into working conditions on the Wilmar International plantations and refineries in Indonesia. It alleged human rights abuses, including "forced labour, low pay, exposure to toxic chemicals and discrimination against women". According to Amnesty International , Wilmar International profited from 8- to 14-year-old child labour and forced labour. Some workers were extorted, threatened or not paid for work. Some workers suffered severe injuries from exposure to herbicides containing paraquat . Wilmar customers include FAMSA , ADM , Colgate-Palmolive , Elevance , Kellogg's , Nestlé , Procter & Gamble , Reckitt Benckiser and Unilever . Wilmar palm oil may be used in popular products like Magnum ice-cream, Colgate toothpaste, Dove (toiletries) , Knorr soup, KitKat , Pantene shampoo, Ariel , and Pot Noodle . On 5 December 2013, Wilmar committed to

945-420: The app. In November 2021, BandLab acquired DIY artist services platform ReverbNation for an undisclosed sum. In December 2021, the company announced a new parent company, Caldecott Music Group. Caldecott Music Group (CMG) oversees three divisions: BandLab Technologies (technology and software), NME Networks (media), and Vista Musical Instruments (manufacturing, retail, and distribution). In February 2023, it

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990-498: The beginning of 2008, SGX reached an agreement to buy at least 95% of Singapore Commodity Exchange. On 30 June 2008, SGX completed the acquisition of Singapore Commodity Exchange Ltd (SICOM), which now is a 100% subsidiary. In August 2009, SGX formed a joint venture with Chi-X Global , called Chi-East. At the beginning of October 2010, this joint venture received approval from the Monetary Authority of Singapore to operate

1035-518: The case of forest fires in Indonesia that led to the island of Sumatra and Kalimantan burn and cause catastrophic smog In 2018, a Greenpeace International report asserted that Wilmar International is "the biggest and dirtiest palm oil trader in the world" In 2020, global campaign organisation Mighty Earth reported that Wilmar International was involved in cutting down of natural forests inside an oil palm concession in Indonesia's easternmost region of Papua, but Wilmar's investigation concluded that

1080-516: The companies listed on SGX NASDAQ . In order to be listed on the mainboard, a company has to fulfill some requirements set forth by SGX, while a listing on NASDAQ is not tied to the fulfilment of any additional conditions. SESDAQ was replaced on 26 November 2007 by the SGX Catalist after an extensive study of other market models and a public consultation in May 2007. The word "Catalist" is an amalgamation of

1125-484: The company acquired MONO Creators Inc, an American manufacturer of instrument cases, straps and accessories. Also in September, BandLab Technologies acquired 49% of American music magazine Rolling Stone from publisher Wenner Media . In September 2017, the company acquired Chew.tv, a video streaming service for DJs. The service was renamed Chew By BandLab, and was integrated into BandLab's web platform. Also in September,

1170-659: The company agreed to implement a number of new measures and policies. In July 2013, a report published by the WWF which documented that Wilmar (as well as the Indonesian company Asian Agri ) were purchasing palm oil fruit which was grown illegally in Tesso Nilo National Park , Sumatra. According to the Roundtable on Sustainable Palm Oil , both Wilmar and Asian Agri took immediate action to stop this illegal sourcing. In October 2015, Wilmar and Sinarmas, reportedly involved with

1215-458: The company announced that it was integrating its livestreaming service Chew into BandLab and renaming it as BandLab Live. In July 2020, the company released BandLab Albums, software for digital distribution for independent artists. In October 2020, the company reported that 22 million people were using the BandLab app. In March 2021, BandLab Technologies reported that there were 30 million people using

1260-464: The company signed a sales and marketing partnership with Heritage Guitars. In November, the company announced it was relaunching the Harmony Company guitar and Teisco musical instrument brand names. In February 2018, BandLab Technologies acquired digital audio workstation Sonar from musical instrument company Gibson , after Gibson acquired and closed Sonar's developer, parent Cakewalk . Sonar

1305-470: The crops she had grown in a bid to make way for palm oil plantations." Bidco Africa and Wilmar have made no recorded statement on these matters. Again according to Friends of the Earth International , the projects implications include: Forced displacement, poor labour standards, deforestation, and insecurity amongst other. The community have now taken the conglomerate to court. In February 2016,

1350-504: The deforestation is smaller than alleged and done by smallholder farmers. According to Friends of the Earth , Wilmar and Bidco Africa through Bidco Uganda, have been involved in long running dispute over land with local communities. According to The Guardian in March 2015, the land grab issue has plagued the community of Kalangala for a number of years. In July 2011, residents awoke to "find yellow machines churning up her land and razing

1395-460: The depth of the peat being four meters, whereas such land is actually protected under Indonesian law. Nevertheless, in 1997 Wilmar received permission to plant there despite it being peat land. According to locals, the plantation endangers the Sumatran tiger population that inhabits the area, and this became a point of conflict with Wilmar in 2004. Soon after, Wilmar sold PT Jatim Jaya Perkasa and joined

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1440-459: The link will cover the clearing and settlement of traded stocks, procedures required for post-trading arrangements. Before the launch of the link, cross-border supervisory and enforcement arrangements will be worked upon by the Monetary Authority of Singapore and Securities Commission Malaysia . After the results of the 2018 Malaysian general election , plans for the stock market link were put on hold. On 21 January 2020, Singapore Exchange (SGX)

1485-497: The number of Singaporean citizens on the board of the combined company and would have given addition seats to Australians. However, on 8 April 2011, the Treasurer of Australia , Wayne Swan , made the decision to block the merger between the two exchanges. Upon the announcement that the federal government would block the merger, SGX retracted its bid for ASX shares and decided to seek growth opportunities elsewhere. As of July 2012, SGX

1530-550: The securities market and protect investors from speculative and market manipulative behaviour. Enhancements included implementing a minimum trading price for mainboard listed issuers, requiring reporting of short positions and the creation of three independent regulatory bodies. On 6 February 2018, the Singapore Exchange (SGX) and Bursa Malaysia announced a proposed stock market trading link which will be operational by end-2018. The new link will allow investors to conduct trading of shares in an efficient manner. In addition to trading,

1575-634: The third exchange in Asia-Pacific to be listed via a public offer and a private placement after Australian Securities Exchange; which listed in 1998 and Hong Kong Stock Exchange earlier in 2000. Listed on its own bourse, the SGX stock is a component of benchmark indices such as the MSCI Singapore Free Index and the Straits Times Index . In May 2006, SGX launched Asia's first over-the-counter (OTC) clearing platform named SGX AsiaClear for

1620-671: The twelfth richest person in Indonesia . In 2004, Friends of the Earth Netherlands performed a review of Wilmar's palm oil operations in Sumatra Riau as undertaken by PT Jatim Jaya Perkasa. Wilmar had 20,800 hectares of land there and the operation was financed by the Dutch Rabobank and the International Finance Corporation . Satellite photos proved that in 2004, the plantations were on sea shore peat rain forests ,

1665-543: The words "Catalyst" and "List", to reflect the idea that the Catalist board could be used as a catalyst to propel growth upon listing. Catalist differs from SESDAQ primarily in its use of a sponsor system to determine a prospective company's suitability to list and as a corporate advisor to advise on listing and corporate governance issues. The exchange launched SGX QUEST (SGX Quotation and Execution System) in August 2004. The system

1710-589: Was 7% higher compared to 1H FY2009 ($ 159.2 million). In the second quarter of the financial year 2010, excluding the non-recurring items, net profit of $ 77.0 million was 3% higher than a year ago. Operating revenue increased 6% to $ 324.0 million (1H FY2009: $ 304.9 million). Numerous guidelines are set to be shifted to SGX Listing Rules. At least one-third of the board members are to be independent directors. The shareholding threshold for assessing director independence has been lowered to 5% from 10%. A director will no longer be independent if he or any immediate family member

1755-714: Was announced BandLab had acquired the beat marketplace company, Airbit. Brands within the BandLab Technologies division of CMG: Brands now under NME Networks, a division of CMG (previously part of BandLab Technologies): Brands now under Vista Musical Instruments, CMG (previously part of BandLab Technologies): BandLab Technologies does not charge for its software or digital musical content, but instead focuses on retail, manufacturing and media advertising sales. Wilmar International Wilmar International Limited ( simplified Chinese : 丰益国际 ; traditional Chinese : 豐益國際 ; Pe̍h-ōe-jī : Hong-ek Kok-chè )

1800-642: Was formed on 1 December 1999 as a holding company. The share capital of some former exchange companies, namely Stock Exchange of Singapore (SES), Singapore International Monetary Exchange (SIMEX) that was founded in 1984 and Securities Clearing and Computer Services Pte Ltd (SCCS) were cancelled and new shares issued in these companies were fully paid up by SGX. In this way, all assets previously owned by these three companies were transferred to SGX. The shareholders previously holding shares in SES, SIMEX and SCCS received newly issued SGX shares. On 23 November 2000, SGX became

1845-531: Was in merger talks with the London Stock Exchange (LSE) and the two exchanges already signed a cross trading agreement. However, on 20 July, SGX said there are no plans for a takeover of or merger with LSE. SGX operates several different divisions, each responsible for handling specific businesses. The companies listed on SGX belong to one of two groups: the companies listed on the SGX Mainboard and

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1890-604: Was listed in the Bloomberg Gender-Equality Index (GEI) for the first time in recognition of gender equality , as well as its commitment to diversity and board representation. SGX was in merger talks with Australian Securities Exchange (ASX), which would have created a bourse with a market value of US$ 14 billion had the deal been successful. The Australian Competition & Consumer Commission said on 15 December 2010 that it would not oppose SGXs takeover of ASX. SGX's plans to buy ASX have drawn criticism from

1935-695: Was ranked 3rd in the World's Most Admired Company (Food Production) by Fortune in 2019. Wilmar International business activities include oil palm cultivation, edible oils refining, oilseeds crushing, consumer pack edible oils processing and merchandising, specialty fats, oleochemicals , and biodiesel manufacturing, grains processing and merchandising, and sugar milling and refining. In 2021, Wilmar placed 2nd on FoodTalks' Global Top 30 Specialty Oil Companies list. It has over 500 manufacturing plants and an extensive distribution network covering China , Indonesia , India and some 50 other countries. The group employs

1980-469: Was renamed Cakewalk by BandLab . In October, the company acquired brands including The Guitar Magazine and MusicTech from UK-based publisher Anthem Publishing. In January 2019, BandLab Technologies sold its 49% stake in Rolling Stone to American publishing company Penske Media . In May, the company bought the music publications NME and Uncut from United Kingdom publisher TI Media . In August,

2025-449: Was the developer of the JamHub audio mixer. Kuok is also the owner of music retailer Swee Lee, acquired in 2012. BandLab Technologies' first product, a Cloud Digital Audio Workstation (DAW) called BandLab, was released in November 2015. In July 2016, the company acquired Composr, an iOS app for recording audio and making music. The app and its users were integrated into BandLab. In September,

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