Friday, 26 June 2009

Officer asked about genital size

The woman, who alleged that a senior anti-graft officer had hit her during questioning, testified on Friday that he asked her about the size of her husband’s penis.

You can’t have decoupling in an age of globalisation

With Asia showing signs of clawing its way out of the slump ahead of the developed world, there has been a sudden rebound in talk about decoupling: the idea that East Asia can unshackle its economic performance from that of the rich countries and achieve sustainable growth independently.

A Sad Day

I grew up watching Charlie's Angels and Michael Jackson's MTV. Both icons passed away yesterday. I have the same depressing feeling as when 梅艳芳 and 张国荣 passed away few years ago. It's a sign that I am ageing? Life is short, really short. Got to treasure every moment before I close my eyes.

Bribe-taking forces Ikea to halt investment in Russia

Ikea said on Tuesday that it was suspending further investment in Russia, apparently because of pervasive corruption and demands for bribes.

Linking of HK, Shenzhen bourses mulled

Hong Kong and Shenzhen could integrate their equity markets into one financial market to attract investors from both areas, said Lawrence Lau Juen-yee, vice-chancellor of the Chinese University of Hong Kong.

Buy gold to hedge dollar fall, urges party official

Mainland should buy more gold because the dollar is poised for a fall and the metal is needed to support the greater international role envisaged for the yuan, a senior researcher with the ruling Communist Party said on Thursday.

Thursday, 25 June 2009

CLSA chief slams HK’s complacency, red tape

Rob Morrison says Hong Kong's bureaucracy has driven CLSA to pick Singapore for expansion.

Hong Kong is too complacent about its cosy status as the financial gateway to the mainland and faces plunging into obscurity if Shanghai becomes the mainland’s leading capital market, a senior local banker says.

Data-miners doubt whether China’s recovery is for real

There is an old joke about proud parents: they all insist their children are above average. You could equally well make it about men. Every man alive is convinced he is a better than average driver.

Audi speeds past rivals in mainland elite fleet deal

Audi speeds past rivals in mainland elite fleet deal

Senior CPIB officer on trial for hurting China suspect

A senior anti-graft officer who allegedly flung a plastic file at a suspect he was interviewing told a court yesterday it was actually his shoe that hit her.

Will the upward trend continue to bend?

Last week’s column recommended investors to be aware of what could cause the upward trend to bend, which as it turned out, was probably timely advice given the sharp fall over the week.

Catalist Index to be launched on Monday

A new index to track stocks on the Singapore Exchange’s (SGX) secondary Catalist board will be launched on Monday.

Time to revamp the Strata Titles boards

It appears that there is an urgent need to review the role of the Strata Titles Boards (STB), especially regarding collective or en bloc property sales in the light of recent court judgments that saw the board come under criticism.

Japan, China gear up for industrial makeover

Economists warn that export demand in many industries will just ‘never come back’

Why men should not be entitled to alimony

The reason usually given is that alimony represents remuneration for the woman’s uncompensated work of childcare and home-making. Eager perhaps to overcome this picture of male-providers and female-receivers, ex-Nominated Member of Parliament Kanwaljit Soin said at a recent forum that ‘maintenance should be on the basis of need and not on the basis of sex’. Men here can receive no alimony in the current law but Dr Kanwaljit argued that an ex-husband should be entitled to alimony if his ex-wife earned more than he did.

Mainland luxury home prices surge

Mounting concerns over inflation and stock market volatility help bolster demand

Laying hypocrisy on with a trowel over ‘Buy China’

Over the past week, we’ve heard a lot of complaints about Beijing’s “Buy China” policy. We’ve also heard quite a few complaints about those complaints.

Most of both have carried more than a whiff of hypocrisy.

China thirst for foreign red wine apparent at Vinexpo

Much to the delight of French winemakers, China confirmed its passion for red wine within the first 24 hours of the opening of the world’s largest wine exhibition here, Vinexpo.

Jim Rogers says he has no short positions and is selling US dollars

“I’d rather be a farmer than a stockbroker for the next couple of years,” he said. “No-one you went to school with became a farmer... so we have a shortage of farmers.”

Wednesday, 24 June 2009

S-chips: More clarity and greater enforcement needed

The problem with the local corporate regulatory regime is that it has plenty of rules in some places but not enough action or clarity in others. For instance, much has been written in the past few months about the need to tighten disclosure/ governance rules because of various lapses by mainly S-chips (or companies listed here with predominantly China operations) and the Singapore Exchange (SGX) has duly responded with various consultation/ discussion papers aimed at tightening the rules.

Private equity players sniff for deals again

This time they’re on the lookout for defensive sectors instead of riskier plays

Two Chinese IPOs set to test US stock market

IPO market has begun to rebound recently with some successful deals

Asia’s Biggest Iron Deposit Found in China

June 24 (Bloomberg) -- Asia’s biggest iron ore deposit, with reserves of more than 3 billion metric tons, has been found in China’s northern province of Liaoning, the China News Agency reported, citing the local government.

The Dataigou deposit, located near Benxi city, has both magnetite and hematite material with iron content of between 25 percent and 62 percent, the report said.

The reserves at Dataigou are equivalent to the combination of all iron ore reserves in Liaoning’s Anshan and Benxi cities, the report said.

SGX’s public rap for China Yongsheng

China Yongsheng, the former Global Ariel, received a public reprimand from the Singapore Exchange (SGX) yesterday for breaching its listing rule on timely disclosures.

SGX’s light touch regime hinders national aim

The risk of overreaction to corporate governance failures seems to be a constant theme in articles, and in speeches by regulators and government ministers here. We are often told that no amount of rules will prevent fraud and wrongdoing, and therefore there are limits to what regulation can do.

The many faces of an income statement

At the end of the day, it is important for financial statement readers to understand that there is no one better format than another. Done correctly, both function (with cost of sales) and nature (without cost of sales) offer useful information to financial statement readers.

3 factors to tell if you have been a nun or a monk in your previous life time?

1) That when you go for a buffet spread, you would love to put all your main dishes as well as the dessert all on the same plate! You know monks or nuns go around asking for alms in their empty bowl and so people would usually just put all kinds of food into ONE single bowl.

2) That whenever you buy a new pair of shoes, they hurt for many months - that is because in your previous life, you only wore slippers.

3) That when you are watching TV, you love to sit on the floor rather than on the sofa - it is because you used to meditate on the floor for long hours before!

Tuesday, 23 June 2009

China Steelmakers Resisting BHP/Rio Dominance, Reaching Out to Diversify Ore Sources

According to the current situation, if China does reach a long-term supply contract with Vale and FMG, and its negotiation with BHP and Rio breaks up, the future iron ore supply and pricing system will gain diversity.

Green Dam and Leaky Dam: Public Power and Social Rights

Mandatory installation of blocking software is an administrative act without sufficient moral and legal ground. From a legal point of view, this is a tussle between public power and social rights.

Raffles Education

1) Falling wedge.
2) Support at 0.535 50EMA.
3) Stochastic at over sold level.
4) Reversal if price goes above 0.555 with more than 20m daily volume.


Risk/reward favours long now.

1) Previous reversals on 40EMA.
2) Closed with Doji Star.
3) Stochastic looking to crossover from oversold level.
4) Found strong support at 1.25 today.
5) Tomorrow's volume must be higher than today's volume (25m).
6) Will know tomorrow if this reversal will happen.

Foreigners turn lukewarm on China stocks

Data shows first capital outflow since March; Asian bull trend at an end?

Chen’s children own up to perjury

Chen's daughter Hsing Yu, seen confronting the media

Beauty China faces winding-up in Hong Kong

Alleged default on on HK$133m loan may derail rights issue rescue plan

Saxo Capital launches commodity CFDs

SAXO Capital Markets is launching up to 20 commodity contracts for difference (CFDs) this year that will give traders leveraged access to energy, metal, soft commodity and grain markets worldwide.

Big investors place premium on good investor relations

Most institutional investors are willing to pay a quantifiable premium for good investor relations (IR) but they view the standard of IR among Singapore Exchange-listed companies as ‘average’.

State firms told to transfer shares to pension fund

Beijing orders move as part of efforts to cope with rising numbers of retirees

Important to guard against overreaction

In Singapore, regulatory authorities are also under pressure to tighten the rules following a disconcerting rise in the number of China-based corporates - or S-chips as they are popularly known - which are reporting accounting irregularities that have cast doubt on whether these firms can continue as going concerns.

Despite Law, Job Conditions Worsen in China

80% of S-chips pass bank balances test: SGX

The bank balances of 80 per cent of S-chips pass muster, said the Singapore Exchange (SGX), citing feedback from auditors - amid growing anxiety over the reliability of accounts.

Recession hits young lawyers

Amid downturn, more pupils not offered full employment, asked to foot law course fees of $5,000

Shipbuilding industry may see pick-up in orders

The mainland shipbuilding industry, hit by the global financial downturn, may be about to show some tentative signs of recovery.

Launch of official complaint hotline proves too hot to handle

The mainland’s top prosecutorial body’s first hotline for the public to report violations of party discipline or law proved so popular when launched yesterday that it crashed.

Shanghai migrants denounce complex residency scheme

Migrants to Shanghai hoping to qualify for a pilot scheme offering permanent residency have complained that the rules are opaque and criteria too difficult to meet, the city’s official media reported yesterday.

Just 29 and already mayor. The big question is: who is his father?

Zhou Senfeng , born in Henan and a masters graduate from Tsinghua University, was named mayor of Yicheng city, Hubei , on Sunday after receiving the unanimous approval of its 221-member People’s Congress.

Daughter and son plead guilty to perjury, claim they were trying to protect Chen

The daughter and son of former Taiwanese president Chen Shui-bian pleaded guilty yesterday to perjury charges relating to the embezzlement scandal implicating their father.

Tai tai tie-ups

Monday, 22 June 2009

Chen family admit lying

Chen Chih-chung (above), Chen Hsing-yu, and Chao Chien-ming are all suspected of perjury during a probe into alleged embezzlement by Chen and his wife.

China June Auto Sales Likely to Slide

June car sales in major Chinese cities are falling, mainly due to the fading impact of policy support.

Carmakers target global component producers

Chinese car and vehicle component makers are expected to speed up acquiring global technologies as the quickest route to expanding their operating scale, market watchers say.

Plenty to play for in targeting the wealthy

Marketers are aware of the sudden and fast-growing prosperity enjoyed by Chinese consumers, and many are already seeking to serve the wealthiest. Our study of 1,750 wealthy households highlights just how much there is to play for.

As China forecasts rise, is the joke on investors?

Almost everywhere you looked last week, people and organisations were scrambling to revise up their forecasts for China’s economic performance.

PLA to recruit 120,000 grads

Chinese military in big drive to trim ranks of first-time job seekers

Fighting big tobacco

Mainland anti-cigarette campaigners want to scrap the state tobacco monopoly but find little support for their cause

Building of dams goes on despite halt order

TV report reveals watchdog ignored

Clashes end in Shishou as curfew imposed

The standoff between authorities and thousands of residents outside a hotel in Shishou has ended, after officials imposed a curfew, reportedly made dozens of arrests and retrieved the body of the young man whose mysterious death had sparked the protest.


Standoff triggered by simmering anger

We’ve had enough, Shishou residents say

Five easy steps to check your mid-year portfolio

Many of the basic rules of investing are counterintuitive. For example, rising interest rates may be good news for those shopping for certificates of deposit and other short-term savings vehicles, but they are generally bad for bond funds. And here is another zinger: the lazy investor is often more successful than the hard-working one.

Market Mood

According to modern portfolio theory, if a portfolio has different assets such as commodities, bonds, currencies and stocks, risk can be minimised because different assets have different growth trajectories and are not highly correlated.

Sunday, 21 June 2009

A Lesson in a Runway Crash

CEO of Vizio, a consumer electronics company in Irvine, Calif.
AGE 45
BIRTHPLACE Taipei, Taiwan
FAVORITE QUOTE “If you build it, they will come.”

My ex-boss... when we were selling to Gateway 2000 faster than the factory could make.

Why Inflation Isn’t the Danger

Some people with hypersensitive sniffers say the whiff of future inflation is in the air. What’s that, you say? Aren’t we experiencing deflation right now? The answer is yes. But, apparently, for those who are sufficiently hawkish, the recent activities of the Federal Reserve conjure up visions of inflation.

Why the ‘Buy & Hold’ mantra doesn’t always work

Short-term trading may not always be a sure bet, but be careful when making any long-term investments too

What being bankrupt means

Lawyers say the new Debt Repayment Scheme (DRS) gives debtors more freedom to deal with their assets and personal affairs, as compared to a bankrupt.

New scheme is turning out to be a LIFESAVER

Fewer bankruptcy applications since start of plan to help people repay troublesome debts

Debt Repayment Scheme (DRS)

What’s the difference between repaying my debts under the DRS and being declared a bankrupt?

A bankrupt is legally and publicly acknowledged to be insolvent.

China-driven commodities rally nearing end

China has been driving up commodities prices by stockpiling to prepare for global recovery, but with inventories overflowing and no end to the crisis in sight, analysts say the rally may soon end.