Recently, we noted that there were 93 net-net stocks, as of 16 September 2019. To understand what a net-net stock is, you can head here. Here, let’s explore 20 of those cheapest stocks sorted out according to the following two lists: 1) The 10 net-net stocks with the largest market capitalisations; and 2) The 10 largest net-net stocks that have positive net income over the last 12 months, as well as more cash than debt on their balance sheets. Here are the 10 stocks on the first list: UOB-Kay Hian Holdings Limited (SGX: U10), Hong Leong Asia Ltd (SGX: H22), Sing Holdings Limited (SGX: 5IC), Hanwell Holdings Ltd (SGX: DM0), SLB Development Ltd (SGX: 1J0), YHI International Ltd (SGX: BPF), ISDN Holdings Limited (SGX: I07), Tiong Seng Holdings Limited (SGX: BFI), IFS Capital Ltd

I remembered once attended a seminar whereby the speaker put out a thought-provoking question to the audience – if there could be only just one stock that you can buy, what would it be? The answer was subsequently revealed to be Singapore Exchange (SGX), as the speaker went on to explain that SGX earns clearing fees from investors when they buy and sell shares. In other words, SGX could profit from both purchases and sales trades no matter which directions the market was going. Furthermore being the sole exchange in Singapore, SGX gets to enjoy a monopolistic advantage on all transactions executed.  This got us intrigued, and we dug deeper to explore if there could be any elements of truth to the above statement. Declining Securities Trading Volumes Securities trading volumes in the