Saturday, 10 October 2009

China’s Economy: 60 Years of Progress (Part IV)

Comprehensive Reforms, 1994 to 2009. As reforms deepened, a battle between pro- and anti-reform factions became increasingly fierce.

China’s Economy: 60 Years of Progress (Part III)

Incremental Reform, 1979-’93. State and private sectors coexisted.

One-child policy gives birth to a selfish generation

Thirty years after the mainland began forbidding some families from having more than one child, in order to solve a dizzying population crisis, the country’s psychiatrists say the result has been a self-centred generation that, having grown up without siblings has never learned to share.

Lawsuit Barrage Exposes Credit Swindling Secrets

A businessman allegedly used bank credit, offshore companies and copper imports in a bogus financing scheme that soaked traders.

Strategic mistrust at the core of US-China relations

Suspicions about arms spending, containment fears underpin their ties

Patriotic capitalist’s son demands restitution

But almost all of the Kang family’s fortune was lost in the Communist Party’s nationalisation drive that targeted the “bourgeois” - mainly capitalists in the cities and landlords in rural areas - shortly after it took power on October 1, 1949.

Searches rise for all the tea in China

In a rebuff to the national drink of coffee, buyers in the United States have increased their online searches for Chinese tea to meet growing demand for the beverage, according to new data from

Whose recovery is it anyway?

Most Americans view the current recovery to be more statistical or technical than real

One ad, but 500 apply for private bank job

RBS Coutts Asia chief surprised by volatility in private banking market

Remisier king Peter Lim wins defamation suit

Billionaire investor Peter Lim has won a defamation suit against the main shareholders of Raffles Town Club (RTC), after the Court of Appeal ruled in his favour yesterday.

Thursday, 8 October 2009

Wynn debut may deal investors dud hand

Investors going all-in on Wynn Macau’s pricey HK$12.6 billion initial share offering could be left holding a busted hand unless the casino operator can beat the recent trend of disappointing trading debuts, analysts said.

SDP five cleared of illegal march

Three leaders and two supporters of the opposition Singapore Democratic Party (SDP) were acquitted in court yesterday of the charge of taking part in an illegal march in 2007.

If merger boom is imminent, we have learned nothing

Wondering what the next bubble might be? How about a merger boom? All the signs are that the global capital markets are gearing up for the next big thing: a wave of mergers and takeover bids.

Private banks yet to learn lessons from crisis: PwC

Private banks in Asia have not learnt the lessons from last year’s financial crisis, risking an even worse performance if the same mistakes are made ahead of the next economic downturn, PricewaterhouseCoopers said yesterday.

Smooth sailing or rough ride for CAC?

China Auto Corporation (CAC) has spent the past few years caught between a rock and a hard place - several hard places, in fact.

Wary Hong Kong gets ready for more IPOs

Three more firms will list on the Hong Kong stock exchange on Thursday, but analysts warned that cooling economic optimism and overpricing has been responsible for a series of disappointing debuts.

Oil states deny secret talks on dollar

Big oil-producing nations have denied a British newspaper report that Gulf Arab states were in secret talks with Russia, China, Japan and France to replace the US dollar with a basket of currencies in trading oil.

No sense in report of plot to engineer US dollar’s demise

That’s not to say the US currency won’t be deposed one day. But it is a safe bet it won’t be replaced any time soon by anything resembling Fisk’s basket. He might be an acknowledged expert on the conflicts of the Middle East, but it looks like Fisk’s lost the plot on this one.

New listings face up to harsh realities

More initial public offerings (IPO) are on their way to charm the stock market, but they may get the cold shoulder from investors if a recent trend is any guide.

Hong Kong luxury home sales soar on mainland deals

Hong Kong’s luxury home sales almost tripled in September from a month earlier, as mainland Chinese residents flocked to buy flats in the city.

Fine-tuning the board and its processes

SGX doesn’t look specifically for directors with speciality expertise, but with experience in running and managing a firm

China leads global IPO rebound

The number of initial public offerings (IPOs) rebounded sharply across the globe in the third quarter, led by mega-deals in China, as companies capitalised on rallying stock markets and growing optimism among investors.

China at 60: Still not a normal country

But the celebrations also succeeded in highlighting, perhaps inadvertently, the fact that China is still not a normal country.

Part of the reason the Communist Party refuses to transform the PLA into the state’s armed forces is that the party puts itself above the state. But it should understand that China cannot be a normal country as long as the party is above the state. There is no reason for the state to be subservient to the party forever.

The top 5 restaurants in China

This list of top 5 restaurants in China, where the gourmet scene continues to develop and innovate at a rapid pace, and is not endorsed by Reuters.

Infertility epidemic stalks the mainland’s one-child generation

They are one of an estimated 40 million infertile couples on the mainland, where the problem is seen as a serious threat to the nation’s population structure and social stability.

China’s Economy: 60 Years of Progress (Part II)

Decentralizing the Command Economy, 1958-’78. Multiple transfers of administrative power brought disorder and ended in a return to centralized power.

Part I

MCC Debut: Turning Point for China’s IPOs?

Dual IPOs that raised US$ 5.3 billion for Metallurgical Corp. of China could portend a big change for Chinese stock debuts.

Prestige, Pitfalls and Perils of a Reserve Currency

A currency with global reserve status can benefit the issuing country. But disadvantages and market decisions cannot be ignored.

Prepare to fight China, al-Qaeda figure tells Uygurs

A prominent al-Qaeda militant urged Uygurs in Xinjiang to make serious preparations for a holy war against “oppressive” China and called on fellow Muslims to offer support.

Taipei museum rejects looted Chinese relics

Taiwan’s National Palace Museum on Wednesday ruled out accepting looted relics, after a celebrity French collector said that his offer to donate two controversial animal heads had been turned down.

US court rejects Chen Shui-bian’s case

A US court has dismissed a petition by Taiwan’s ex-leader Chen Shui-bian which he filed in a bid to overturn his life sentence and secure his release from detention, Chen’s representative said on Wednesday.

Versace to Close Its Japanese Stores

Gianni Versace will close its Japanese stores and review its entire business strategy, as demand for luxury goods declines in Japan, which has the world’s second-largest economy.

Versace quits Japan after 30 years

Gianni Versace, the favoured brand of celebrities such as Elton John and Jennifer Lopez, is pulling out of Japan after nearly 30 years – highlighting the depth of the consumer slump in one of the world’s largest luxury markets.

Wednesday, 7 October 2009

Red miniskirts eclipse need for reality check

Just don’t let the show distract you from the daunting list of things China must pull off in order to thrive. It includes finding a new growth model, raising hundreds of millions more out of poverty, getting the state out of the economy, attacking corruption, saving the environment and figuring out what to do with more than US$2 trillion of currency reserves.

Offshore private banking will thrive, say wealth managers

Services such as estate planning will always be needed

The challenges facing post-crisis China

MASSACHUSETTS Institute of Technology (MIT) professor Huang Yasheng talks to BT associate editor VIKRAM KHANNA about China’s economy after the global financial crisis.

China in 2049 - enhancing quality

As the People’s Republic of China celebrates its 60th anniversary, it is tempting to ponder what the future holds for its centenary celebration some 40 years from now.

Trendy Shenzhen teenagers spearhead Cantonese revival

A new craze is sweeping through the ranks of Shenzhen’s teenagers. Whether it is in school, at the shopping mall or the KTV club, there’s only one way to prove you are a real “Shenzhener” - by speaking Cantonese.

Cantonese almost became the official language

Putonghua is the official language on the mainland, but if history had played out differently the vast majority could have been speaking Cantonese.

Ex-Ernst & Young auditor accused of siphoning assets

Christopher Ho Wing-on is a rich man, allegedly worth more than US$500 million. But he was accused in court of partially building his fortune by siphoning assets from disgraced tycoon James Ting’s failed electronics empire Akai Holdings in the late 1990s.

Hard work pays off for ‘vicious’ Akai liquidator

Cosimo Borrelli’s pursuit of truth unravels corporate collapse

Akai saga ends with ‘US$100m payout’

Almost a decade after the spectacular collapse of Hong Kong electronics conglomerate Akai, the saga has ended with the failed firm’s liquidators securing a major moral and financial victory for its creditors.

Darkest Before The Dawn - BNP

Last week’s disappointing non-farm payrolls report rounded off a week of relatively tepid US macro-data that has challenged the bullish foundations on which US equities continue to precariously reside.

Tuesday, 6 October 2009

Real lesson behind the Ris Low affair

To excuse her behaviour on account of her youth is an insult to all the young people who still believe in honesty and integrity

Party monitors untangle Web of disharmony

Mirky world of ‘commentators’ keeps forces of dissent quiet

Let’s level the playing field for listed firms

Investors in Bermuda-registered firms listed here now get less protection

Faith groups use English to draw devotees

Changing times have forced religious leaders in traditionally non-English-speaking faith groups to reconsider how best to reach new devotees, many of whom are young and English-speaking.

Contradiction in terms

Few could have foreseen the paradox presented by capitalism with Chinese characteristics

Changes in portraits yield a telling story

Displaying and carrying huge portraits of the great and the noble has long been an integral tradition of the elaborate celebrations of National Day holidays in communist countries.

Budding tycoon sets sights on big league

Former hairstylist has goals for Birmingham City

Chongqing on the mend after crackdown on criminal gangs

Chongqing has long been known for three characteristics - its mountainous landscape, attractive women and spicy cuisine. Unfortunately, in recent years, a fourth item could be added to the list - organised crime.

Analysts need to get real

While analysts have to rely on numbers, they also have an obligation to peer beyond their spreadsheets to take in the real operating circumstances of each company. As one wit put it, if you torture numbers long enough, they will give you the answers that you are looking for. And sometimes these answers can cause unnecessary alarm.

Monday, 5 October 2009

Australia singer asked Singapore Christians to step up evangelism

Well-known Australian Christian singer Roma Waterman urged Singapore Christians to step up evangelism during a performance at The City Church last Saturday.

She quoted in the Christian Post as saying:

“It is important that believers live with the perspective of eternity and share the Good News at the risk of offending some people rather than being polite to everyone and letting them go to hell.”

Those fucking self centred, self righteous and selfish christians go to hell.

Qingdao strives to boost economy beyond tourism

Qingdao is one of the mainland’s tourist Meccas, with tens of millions of visitors crammed on to the Shandong city’s sandy white beaches every year. But the city government believes its future is about much more than tourism.

Hong Kong's luxury living draws mainland Chinese

Mainland Chinese once fled to the slums of Hong Kong’s Kowloon to escape poverty, war and communism but many mainlanders in the district these days are seeking swimming pools and harbour views.

Sunday, 4 October 2009

Why the pain lingers for China and Japan

Young Chinese "comfort women", or sex slaves, with Japanese soldiers.

The atrocities of war, including the sufferings of ‘comfort women’, are not forgotten

Is your financial adviser really up to the job?

And that is the moral of the past year: when you find an adviser you think you can trust, check and check again.

Will SingTel keep its word on not charging consumers more?

Clearly, SingTel is now putting all its eggs in one basket and banking on sports to win over a still-sceptical public. All eyes will now be on whether it remains true to its word that consumers won’t have to pay more to watch sports than what they are currently forking out now.

Tycoon’s kids lose appeal in dispute over fortune

The children of the first wife of Singapore Crocodile Farm founder Tan Gna Chua failed yesterday in their final appeal to declare their father’s second marriage invalid.

Hengyang to be first Chinese firm to list on Catalist

Hengyang Petrochemical Logistics is on its way to become the first Chinese firm to list on the Catalist board.

It is offering 18 million new invitation shares at 38 cents apiece, and will be sponsored by CIMB Bank Berhad, Singapore Branch.

Feisty exchange at insider trading court case

The court hearing on the Monetary Authority of Singapore’s case against a former employee of WBL Corp resumed yesterday, starting with the cross-examination of an expert witness for MAS.

Consortium bids to snap up Sincere for $112.7m

Singapore’s largest watch retailer Sincere Watch has received a $112.7 million cash offer from a consortium largely made up of a unit of luxury group LVMH Moet Hennessy Louis Vuitton, a private equity arm of Standard Chartered, and former owner Tay Liam Wee.

Companies lacking in cash management

Most still focused on managing inventory rather than ways to release cash: survey

Oei Hong Leong settles suit with Citi

Business tycoon Oei Hong Leong has settled his multi-million-dollar lawsuit with Citigroup ‘amicably’ and says he will continue to work with the bank again.

Luxury brands doing brisk business in China

But wealth boom widens income gap further

Chinese Economic Juggernaut Is Gaining on Japan

For years, Japan has been readying itself for the day that it is eclipsed economically by China. But as a result of the global slowdown, Japan’s difficulty in managing its economy and China’s rise — on vivid display Thursday as Beijing celebrated the 60th anniversary of the founding of the People’s Republic — that day may come sooner than anyone predicted.

Hu may be wanting to maintain military hold

However, there is no such convention for the chairman of the military commission, and both Mao and Deng continued to serve in that post into their 80s; Jiang was in his late 70s before stepping down.

The wonder that is modern China

How it changed within one generation from being poverty stricken to a global force

While China will continue to learn from the West for its own benefit, it may be time now for the West, to use Deng’s famous phrase, to ‘emancipate the mind’ and learn a bit more about or even from China’s big ideas, however extraneous they may appear, for its own benefit.

One family, three different perspectives

Generation gap apparent as Beijingers recall dark days of the Cultural Revolution

Excited viewers filled with pride after tuning in

“I’ve got to say ‘very’ three times to describe how I feel at the moment,” he said. “China is very strong, we Chinese are very proud of our country, and we lead a very good life.”

Celebration that stopped the nation

China celebrated 60 years of communist rule yesterday with a spectacular parade and extravagant pageantry to display the country’s growing military and economic might and national pride.

Singapore PR took part in parade

Ms. Zhang Yuanyuan (above), a Singapore PR who returned to Beijing last year, underwent 10 months of hard training to take part in the parade.

赵娜 - 中国女民兵方队

张晓菲 - 中国女民兵方队

China’s iron roses

The 500 women of the militia formation were the most talked-about contingent at the parade celebrating the 60th anniversary of China. They stole the show just like their predecessors did at the last parade in 1999.



Militia in miniskirts steals show at parade

With impeccable make-up and eye-catching miniskirts, the phalanxes of female soldiers are the talk of the town after the massive military parade strode through Tiananmen Square on Thursday, impressing the world.

Pick winners, not whiners

Insights on how to improve one’s odds as a recruiter.

Guangzhou’s glittering financial centre turns into a ‘Lost City’

David Webb, an independent market researcher based in Hong Kong, categorically rejected Guangzhou’s chances of becoming a financial hub. “You can’t just build offices and put up a sign,” he said.

Gold tells you bubble hasn’t popped yet

Right now, the American economy is worth less than the value implied by the market value of its obligations and gold bugs will tell you, privately, that this is why they are buyers. Might as well stock up, they say, before gold becomes a controlled substance.

Curse of October? Let’s not be hasty

Further stock price falls may present buying opportunities for traders

Forged cheques: Should banks be liable for losses?

The president of the Law Society has pointed to a disparity between the law and how banks treat cases of forged cheques.

Tiger Airways ‘let us down’

Flight cancelled: Tourists fend for themselves

Six blocks in opposition-held Hougang selected for lift upgrading

Six blocks in opposition-held Hougang constituency have been selected for lift upgrading. This follows the announcement on Friday that Potong Pasir, another opposition ward, would also receive lift upgrading.

Wanted: Non-Singaporean

An electronics firm that advertised last week for a ‘preferably non-Singaporean’ engineer has added fuel to a worsening controversy in this migrant city.