Saturday, 6 March 2010
Singapore is planning to create its own hedge-fund capital modelled after Greenwich, Connecticut, in a cluster of ex-British army homes called Nepal Hill, a 15- minute cab-ride from the city-state’s main banking district.
Shanghai’s economy exceeded the size of Hong Kong’s for the first time in at least three decades after stimulus spending helped China skirt the global crisis and lead the world out of recession.
“Salaries for political appointments – ministers, ministers of state and parliamentary secretaries – are estimated to be $58.28 million, or 8.8 per cent higher than last year.”
“The judiciary (also known as the judicial system or judicature) is the system of courts which interprets and applies the law in the name of the sovereign or state. The judiciary also provides a mechanism for the resolution of disputes. Under the doctrine of the separation of powers, the judiciary generally does not make law (which is the responsibility of the legislature) or enforce law (which is the responsibility of the executive), but rather interprets law and applies it to the facts of each case.
Even though Singapore is a Democratic Country, I am concerned that there little if not, no concept of Separation of Powers, which is a very critical but common trait of any democratic country. Please allow me to quickly introduce the concept to you and the basis of my concerns with application to my homeland, Singapore.
Friday, 5 March 2010
Where does one invest in China, which is such a vast market? One of Mapletree Investment’s strategies is to focus on second-tier cities with good growth potential, where it can find better value in real estate. And where growth has not fully taken off.
Twenty years ago, if you had asked any equity investor which bank’s shares were destined to outperform over the next two decades - HSBC or Standard Chartered - he would have laughed in disbelief at your question. The answer was obvious: HSBC, of course.
And if you were to ask almost any investor which of the two stocks is most likely to outperform over the coming years, they would stare at you in amazement and answer “StanChart, of course.”
Contra trading is here to stay but it is hurting the growth of equity derivatives here and will probably need to be re-priced, the new chief executive of the Singapore Exchange said yesterday.
Singapore’s largest law firms have upped the monthly salaries of their lawyers significantly, as they brace themselves for the onslaught of competition from the foreign law firms, amid the liberalisation of the legal industry here.
China must urgently address the physical fitness of the nation’s youth or run the risk of raising a generation incapable of fighting the Japanese in a future war, the head of the country’s top sports university said Thursday.
Premier Wen Jiabao calls China’s economic growth path “unbalanced, uncoordinated, and unsustainable.” This week’s annual parliament session may prove he is unable to change its course.
Lawyers who are familiar with Senior Counsel Sundaresh Menon, who takes over as Singapore’s Attorney-General in October, yesterday described him as a man with many qualities that make him the perfect choice for the job.
The People’s Liberation Army Navy is facing countless potentially fatal accidents at their bases, where boats and nets are illegally placed by fishermen, the PLA Daily said yesterday.
China replaced the United States as the world’s largest commercial real estate investment market last year and is likely to retain that position as global money flows improve as the country’s economy grows, according to a report by property consultancy Cushman & Wakefield.
Chen Mingjing’s entrepreneurial instincts vaulted him from a peasant upbringing to undreamed-of wealth, acquired in ventures ranging from making electric meters to investing in real estate. But when he was 44, the allure of making money for money’s sake began to wane. He wanted to run a business that accomplished some good.
The hackers behind the attacks on Google and dozens of other companies operating in China stole valuable computer source code by breaking into the personal computers of employees with privileged access, a security firm said on Wednesday.
China’s Ministry of Finance is taking the lead in drafting new rules to control fund-raising by local governments’ special purpose vehicles, a banking regulator said on Thursday.
A deputy secretary of the Communist Youth League committee in Shijiazhuang has been sacked and handed over to prosecutors for allegedly fabricating her age, resume and identity to win promotion and inherit a huge estate that her billionaire lover left to his daughter.
Thursday, 4 March 2010
China First Heavy Industries fell on its debut after raising US$1.67 billion in the mainland’s biggest initial public offering this year, as investors baulk at the high valuations pinned on a steady stream of new listings.
Wealthy European nations are moving closer toward swallowing a bitter pill: rescuing Greece from its overspending before its debts drag down the euro and stock markets all the way to Wall Street.
Beijing’s appetite for corporate America has expanded rapidly with the nation’s sovereign wealth fund holding investments of US$9.63 billion in 60 United States-listed companies, including icons such as Coca-Cola, News Corp and Apple.
Is the financial crisis over? Is the recovery for real and, if not, what are Americans’ prospects? The short answer is that the financial crisis is not over, the recovery is not real, and the U.S. faces a far worse crisis than the financial one. Here is the situation as I understand it:
The worldwide study conducted and released by UBS lately, titled “Price and Earnings 2009″ has some unflattering results for Singapore.
Wednesday, 3 March 2010
The Beijing-Shanghai High Speed Railway, which wants to raise up to 50 billion yuan in one of the world’s biggest initial public offerings this year and bring in strategic investors, has been hit by findings of financial irregularities by the national auditor.
China has weathered the global economic crisis better than other nations, but a significant proportion of the people are nonetheless suffering. About 23 million migrant factory workers lost their jobs as a result of Western demand for imports drying up. Their plight now, amid government concern about the widening gap between the urban rich and rural poor, has become the focus of a campaign in the media and policymaking circles to abolish the outdated residency permit system. National People’s Congress lawmakers should heed the calls and begin a concerted programme of reforms.
Although it’s been around for about 10 years now, it would be fair to say that the idea of a profit-maximising market regulator like the Singapore Exchange (SGX) has not gained widespread acceptance with a sceptical local public, because of the inherent conflict of interest in such an arrangement.
It is no surprise that China firms listed here have a yawning credibility problem, given the antics over the past 12 months. But what does amaze is their lack of effort in trying to improve their tattered image.
Many ambitious enterprises have dreams of going for a public listing. However, they may be clueless about how to prepare for the journey, or even when they should start to think about it.
The recent rise in the US dollar - a carry trade currency - bears a haunting resemblance to the sharp appreciation in yen in early 2007, which left stock market carnage in its wake on fears of the unwinding of the yen ‘carry trade’.
While it is good to know that the police are investigating the matter despite defining the matter as a non-seizable offence, it is disturbing to note that the man-in-the-street would not be accorded this privilege in the normal course of events.
Premier Wen Jiabao should be more upbeat than a year ago when he delivers China’s version of the state of the union address at the opening of the legislature’s annual session on Friday and then faces the media at its close.
Bo repeatedly drew attention to the reported support of Zhou Yongkang, head of the Central Commission of Political Science and Law, during the campaign, but he seemingly failed to secure any new endorsement of the sweeping crackdown from the central government in Beijing. Apart from Zhou, there have been no state media reports of any of the other eight members of the top decision-making Politburo Standing Committee either visiting the city or voicing support for Bo over the past eight months.
A joint editorial in 13 mainland newspapers has called on the nation’s top legislative body to abolish the hukou system - strict population controls that have split the country into rural and urban areas for decades.
On Feb 22, FibreChem entered into an investment agreement with Prima Andalan Sentosa for the latter to invest up to US$50 million via subscription of new shares. Prima is owned by Patrick Soetanto, a member of the Soetanto family of Indonesia that is involved in textile and fibre businesses.
Mining groups are on a collision course with Australia’s farmers in a battle for some of the country’s richest agricultural land, putting at risk its status as the one of world’s top producers of best-quality wheat.
Restaurants and office buildings in China’s commercial capital Shanghai are scrambling to set up non-smoking areas as the city bans lighting up in indoor public spaces ahead of the World Expo.
I have a personal dislike for the term “perfect storm”, because it is rarely accurate. However, the Spring Festival holiday break included some announcements and actions that bring together a previously loose collection of events into something that is perhaps more significant — an almost- perfect storm.
Tuesday, 2 March 2010
Monday, 1 March 2010
Israel’s Mossad has regularly faked Australian passports for its spies, an ex-agent said, as anger grew over the use of foreign travel documents for an alleged assassination.
While it is becoming clearer that Oxfam Hong Kong has fallen foul of the mainland’s education departments, crucial questions remain unanswered, including what the charity has done to deserve such treatment and what it means for other NGOs on the mainland.
The mainland property market will see a correction this year due to slower demand, higher supply, tightening liquidity and the effects of government measures to cool speculation, according to Standard & Poor’s Ratings Services.
Some hospitals in Malaysia are preparing to welcome more patients from Singapore. One has even tied up with tour operators to attract medical tourists from across the causeway.
Thailand’s Supreme Court on Friday confiscated $1.4 billion in frozen assets from the nation’s fugitive former Prime Minister, Thaksin Shinawatra, after finding him guilty of illegally concealing his ownership of a family company and abusing his power to benefit the companies he owned.
It strains credulity that a Chinese university would require an applicant to be tested in English, but not Chinese, to demonstrate knowledge of the humanities.
Your Money took these questions to some of the smartest financial minds in the market to see if we can borrow a page from their playbook for the coming months. The experts we talk to are Marc Faber, editor of the Gloom Boom & Doom report, billionaire investor Jim Rogers, Mark Mobius, executive chairman of Templeton Asset Management, and Peter Elston, chief Asia strategist at Aberdeen Asset Management. Here is their take:
The upsetting photo published around the world just before the Lunar New Year of two-year-old Chen Jingdan chained to a tree in Beijing was loaded with as many misconceptions as it was with shock, desperation, sadness and pity.
It was meant to be a show of wealth and to bestow good fortune in the Year of the Tiger. But a wealthy family’s firework display in a village in Guangdong went tragically wrong, triggering a huge explosion that killed at least 20 people, including children, and left nearly 50 injured, some critically.
Sunday, 28 February 2010
It did not bode well for Google’s trendy upstart image at first, finding out that its Singapore office is located in the steel cuboid jungle of Shenton Way - a sprint away from the Monetary Authority of Singapore, no less.
Supporters of populist former Thai leader Thaksin Shinawatra denounced a court order to seize $1.4 billion of his assets, and vowed Saturday to pursue a nonviolent struggle for what they said would be a people’s democracy.
Australia stepped up pressure on Israel Saturday over fake passports linked to the murder of a top Hamas commander, saying it was yet to receive a satisfactory explanation.