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Technology Stocks : Creative Labs (CREAF) -- Ignore unavailable to you. Want to Upgrade?

To: Terry Jackson who wrote (9461)	2/9/1998 4:23:00 PM
From: prakash	Read Replies (2) \| Respond to of 13925

How about 429,500 for today's volume? Down a bit on low volume. BTW where is everybody on this thread. The last message posted was at 9.25am. Prakash

To: Terry Jackson who wrote (9461)	2/10/1998 12:31:00 AM
From: Savoirman	Read Replies (1) \| Respond to of 13925

Tranches (in Singapore and Malaysia) are segregated portions of the same stock. For example, Singapore Press Holdings had 49% of its shares designated FOREIGN (meaning anybody can buy them) and the rest (51%) designated LOCAL (meaning only locals can buy them). Historically, the reason was to protect "national interests" in defense-related industries, media, banking or aviation. But new methods of preventing "foreign hostile takeovers" have been invented (like the use of a Golden Share) so such so tranches have ceased to be useful. Singapore Press Holdings has successfully got shareholders approval of a plan to compensate Foreign shareholders with extra shares (because the Foreign price is higher) before abolishing the two tranches. This means more liquidity and people like the MSCI will view this favourably. Both tranches were strongly higher today, showing the market viewing the whole exercise positively, regardless of whether local or foreign.