WOTC - Low trading volume in SGX

I asked this question in the Wisdom of the Crowd:

What is the cause of the low trading volume in Singapore?

Here are the responses:

35 % - The practices are outdated
32 % - Singapore is a small country
25 % - The regulations are too strict
8 % - The regulations are too weak

See the pie chart at: 
http://www.wisdomofthecrowd.sg/chart.aspx?ID=771