In order to short a share in Singapore, one has to borrow from SGX CDP or their brokers first, before selling the shares. This is called 'covered' short. He will then have to pay a borrowing fee ranging from a low of about 1% pa to as high as 10% pa on the average daily market value of the share. This borrowing fee is split between the owner of the share and the broker or CDP.(Due to the lack of transparency on the percentage split of the fees, i really do think i have been short changed by my broker but im digressing. Will complain another day.)

Another way is to do a 'naked' short. What this means is you do not borrow a share, but just sell the shares in the open market. This is stupid as you MUST buy the shares back within the same day ...