Thursday, 10 September 2009
Chongqing crackdown expanding
The crackdown on organised crime in Chongqing is being expanded, with increasing numbers of police officers involved.
China Gaoxian to raise $83.2m through mainboard IPO
China Gaoxian Fibre Fabric Holdings Ltd has launched its initial public offering to raise $83.2 million in what is Singapore’s biggest IPO so far this year.
Chinese woman spends $600,000 on dog
A millionaire in northern China paid four million yuan (600,000 dollars) for a dog and ordered 30 luxury cars to come to the airport to greet her and the animal, local media reported.
US recession may be over, says Fed survey
The recession is ending and the US economy is finally growing again.
Wednesday, 9 September 2009
The US taxman comes knocking on Asian doors
Green Card holders and US citizens with undeclared offshore assets have until Sept 23 to come clean
MAS bans use of ‘capital protected’
The Monetary Authority of Singapore has published the first set of new rules that it plans to implement to change the way financial institutions here treat customers in response to the recent scandal over mis-selling in the industry.
Americans in Singapore seek tax advice as US deadline nears
Tax experts say they are getting queries from United States citizens and US green card holders in Singapore, wanting to come clean over income they have not declared - before an imminent deadline.
China relaxes rules for inbound investment
Individual QFII quota limit up, minimum lowered; overall quota to stay intact
Chinese firms post strong Q2 results
China’s mainland-listed companies look set to avoid an earnings decline this year after strong second-quarter results, spurring analysts to raise their forecasts to a flat performance from a 10 per cent drop.
Economic Recovery Adjustment
After experiencing such a rapid recovery, China’s economy has begun an adjustment.
How much more upside is possible?
Here’s an interesting question that punters must surely be asking: how much more upside can there be in stocks, either for the rest of the year or the next 12 months?
Letting staff go with graceful exit
Badly handled exits can make it harder for companies to later recruit and retain talent
Local IPO market stirring back to life
Seven new listings since end June, compared to three in first half of year
MediaRing returns to limelight
Plans to grow profits by new chairman BK Modi has been read positively by investors
New department to develop bigger role for the yuan
Agency a key part of strategy to internationalise the currency
Next generation builders shaping family legacies
Young players in property groups making their mark in family business
No. 2 police officer held in Chongqing crackdown
The No. 2 police officer in Chongqing has been detained and placed under investigation as part of a sweeping clampdown on triads that has brought down hundreds of officers in recent months, a Hong Kong newspaper reported.
Death, jail threats hang over Urumqi offenders
The troubled far-western city of Urumqi has spelt out potential punishments for spreading rumours after days of sometimes deadly unrest and panic about reported syringe attacks that have fanned ethnic tensions.
Beijing and foreign banks row over airlines’ fuel bets
The central government and foreign banks are threatening legal action against each other in an escalating row over ballooning losses racked up by state-owned airlines which ran into the red on derivatives contracts.
Closely Watched Buffett Recalculating His Bets
Warren E. Buffett has two cardinal rules of investing. Rule No. 1: Never lose money. Rule No. 2: Never forget Rule No. 1.
Government Involves Itself in SOE Fuel Derivative Defaults
Last year’s commodity price plunge caught a number of Chinese state-owned enterprises (SOEs) flat-footed and they suffered huge losses in fuel hedging derivative trading with international investment banks. Both the SOEs and regulators are straining to explain the debacle, and there are even indications they are inclined to blame fraud and/or conspiracy by foreign investment banks.
Riots on rise as cadres at fault, magazine says
Outspoken article gives Beijing checklist to ease sweeping unrest
Surge in IPOs as Asian market recovery picks up speed
China, Hong Kong issues lead rush, with real estate, consumer-driven plays
Asia’s initial public offering market is booming as economies inch out of recession and equity markets improve, setting the scene for the region to emerge as the world’s top spot for firms rushing to raise money.
Asia’s initial public offering market is booming as economies inch out of recession and equity markets improve, setting the scene for the region to emerge as the world’s top spot for firms rushing to raise money.
Time to adapt to new accounting standards
Companies listed on Singapore Exchange are required to prepare their financial statements in accordance with the US Generally Accepted Accounting Principles (GAAP), the International Financial Reporting Standards (IFRS) or the local equivalent of IFRS, the Singapore Financial Reporting Standards (SFRS).
Trade war looms between Chinese, Western solar firms
Fair competition or save the planet? That could ultimately be at play as China and the West, long at odds over trade in steel, textiles and car parts, risk being sucked into a row over protectionism in renewable energy equipment such as solar panels.
Tuesday, 8 September 2009
Yunnan tourist area swept by unrest after policeman killed
Hundreds of armed police were sent to Yunnan's Shangri-La tourist area after unrest triggered by the killing of a local police officer, a human rights watchdog said yesterday.
Beaten to death at Wal-Mart
A woman in eastern China was allegedly beaten to death by five employees of a Wal-Mart store who accused her of shoplifting, a police report and state media said on Tuesday.
Stone sorry for ‘karma’ comment
Hollywood star Sharon Stone has apologised for her “bad karma” comments on the Sichuan earthquake, 15 months after the incident upset Chinese communities around the world.
Beijing to back state firms acting against banks
Beijing has publicly put its weight behind some state-owned firms struggling with oil derivatives losses, saying it will back them in legal action against the foreign banks that sold the products.
Monday, 7 September 2009
Hot Money Back on China’s Front Burner
Yet hot money’s shadowy nature makes it statistically difficult to document, raising questions about the phenomenon’s seriousness.
Monetary Policy Steers an A-Share Ride
Policy decisions and a lending spree lifted Chinese stocks to unwarranted heights before the ‘capital feast’ suddenly ended.
China Auditors Take Close Look at Bank Lending
China’s audit agency launched a probe into bank lending amid concerns that some of the lending ended up in stock and property markets.
Post-Lending Boom Blues for China’s Banks
Banks that issued a combined 7 trillion yuan in loans during the first half are now confronting earnings issues – and the future.
No reason for mainland stock jitters
Just as mainland stocks often rise without fundamental support, they are now tanking even though companies just had a better-than-expected earnings season.
Ignore the doomsayers - home prices will keep rising
“Bubble” may be the word on everyone’s lips when talking about spiralling housing prices on the mainland, Hong Kong and Singapore, but contrarians believe these fears are overblown and prices have yet to peak.
Food safety standards improved after a crisis that tarnished the nation’s image
Could another health crisis like the melamine contamination case happen again? How was it allowed to happen in the first place?
Secrets of Alleged Oil Price Manipulation Exposed
Its superfast, supersecret oil trading software was called the Hammer.
Sunday, 6 September 2009
Sacked Urumqi party chief is just a scapegoat
Beijing fired official ‘to ease public anger in Xinjiang’
Sensitive touch needed to soothe ethnic tensions
The sacking of Urumqi’s Communist Party Secretary Li Zhi yesterday, a rare move in response to public protests, reflects the gravity of the situation facing the central government in Xinjiang. Five people have been killed and scores injured in mass rallies triggered by Han Chinese who are angered at a failure by provincial authorities to secure their safety amid a wave of terrifying attacks with syringes.
Syringe attack victims worried about long-term health risks
Jiang Ye was waiting for a friend at the train station in Urumqi when she felt a sharp stabbing pain in her left arm.
Dairy industry now safer, but farmers feeling the pinch
In the first of a two-part series looking back at the milk contamination crisis, Al Guo revisits the dairy farms in Inner Mongolia to see what has changed.
Saturday, 5 September 2009
Liquidators suing Akai auditors for negligence
In the mid-1990s, Hong Kong tycoon James Ting was a credit to the city.
Be reasonable in exit offers, says SGX
Responsibility for this rests on board, independent financial advisers
Schoolgirl wants to be ‘corrupt official’
A six-year old girl has become a media darling in China on her first day of school by expressing her aspiration to become a ‘corrupt official’ when she grows up, state media said yesterday.
Moody’s, S&P lose free speech protection claim
Investors may pursue fraud lawsuit against the two agencies: US judge
The next big thing: markets in Indochina
With Cambodia, Laos and Vietnam growing rapidly, enterprising Singapore companies should ‘fly there tomorrow’
South Africa U-turn on apartheid lawsuits
South Africa’s government has backed a bid by apartheid victims to sue firms in the US - reversing the position of the previous administration.
Han Chinese unrest tests security troops’ mettle
Unrest in Urumqi, the capital of China’s frontier Xinjiang region, is testing Chinese security forces as Han Chinese demonstrators impugn their loyalty, two months after deadly ethnic rioting on July 5.
China official: 5 killed during Urumqi protests
Five people have died during mass protests sparked by a bizarre series of hypodermic needle stabbings in this western Chinese city that has been wracked by ethnic unrest, an official said Friday.
JPMorgan clears its name in China Hongxing share sale
It reveals details to show it notified China Hongxing within 2 days of each sale
HSBC faces problems going back to its Shanghai roots
In recent months bank executives have repeatedly said they want to list shares in HSBC Holdings on the Shanghai stock exchange.
Former justice chief had his own ‘Fort Knox’
The former justice bureau chief who fell in the Chongqing organised-crime investigation apparently had his own version of Fort Knox.
Ex-lovers in court battle over company shares
He claims she oppressed his minority rights; she claims he was given a stake only because of their relationship
Euphoria over small-cap stocks rising as risk appetite returns
Potentially lucrative small stocks outperform blue chips amid upturn
China drafts new partnership rules to draw foreign firms
In landmark move, foreign firms may set up registered partnerships locally
Backpedalling, China Eases Proposal to Ban Exports of Some Vital Minerals
Chinese officials said on Thursday that they would not entirely ban exports of two minerals vital to manufacturing hybrid cars, cellphones, large wind turbines, missiles and computer monitors, although they would tightly regulate production.
Friday, 4 September 2009
Addicted to the Internet? There’s rehab for that
Facility claims to be first in U.S. to offer Web, video game recovery program
$100 liability cap for lost credit cards
Cardholders protected from Nov 1 provided they are not negligent
Offshore private banking model is dead, say experts
A US tax probe against Swiss bank UBS has killed traditional offshore banking and wealth managers will have to improve their offers to survive, bankers and industry insiders said on Tuesday.
Is it next stop Beijing for Bo aboard the Chongqing express?
Chongqing party chief Bo Xilai, a princeling politician with a populist touch, is the biggest winner in the municipality’s war against organised crime gangs. The crackdown in the unruly southwestern municipality has won him public praise and political capital ahead of a gathering of top officials this month.
Defence moves to impeach own witness
Ex-Pheim fund manager tells court she didn’t give order to buy UET shares
SGX plans to cut bid sizes, raise forced order range
Feedback sought on changes; tighter bid-ask spreads seen boosting trading
Korean broker quashes talk of exit from Singapore
But Wisa confirms internal review after new team took over
Liquidity curbs in China unlikely: HSBC analyst
Recent fears among investors in the Shanghai stock market that the Chinese government is reining in liquidity are unfounded, said HSBC chief China economist Qu Hongbin.
Pay-back time at Phillip Securities
Commissions clawed back from staff who sold toxic products, but no decision yet on final sum
Politics Permeates Anti-Corruption Drive in China
China does not have an independent police or judicial system; party leaders order investigations. “It’s a very politicized process,” says Minxin Pei, a professor at Claremont McKenna College in California and author of numerous studies on corruption in China. “If your patrons do not protect you, you’re toast.” This may help explain one of the enduring contradictions of China’s political and economic system: the government regularly publicizes an astounding number of corruption cases, yet little progress seems to be made in uprooting corruption.
Private jet travel set to take off on revised rules
Beijing cuts approval time for flight plans to boost sector
Second Link to go cashless from Sept 14
It will be Touch ‘n Go for motorists using the Second Link to Malaysia from the middle of this month.
From Sept 14, the link at Tuas will accept only cashless payment for tolls.
From Sept 14, the link at Tuas will accept only cashless payment for tolls.
Unearthing the past leaves Wharf stymied
When archaeologists dug up evidence of a 1,000-year-old Tang-Song dynasty street in the middle of Chengdu two years ago - complete with house walls, a Buddhist temple and other relics - it was cause for celebration. Except that is for Wharf (Holdings), the developer.
China Relaxes Stock Market Limits for Foreigners
China announced new draft rules on Friday on inbound portfolio investments, increasing the amount some institutions can invest in the country’s stock markets, in a move likely to bolster market sentiment.
Tuesday, 1 September 2009
Who will succeed in the coming super-cycle?
Shift of economic power to the East will create huge opportunities for emerging economies
Wearing contact lenses for prolonged periods can damage cornea
Wearing contact lenses for prolonged periods can damage the cornea, a transparent layer covering the eye.
Stocks ‘in early phase of 3-5-year bull market’
Singapore expected to benefit from its direct domestic plays, says AMPCI
Smokers may face five days in jail
Five days’ detention for people who defy the smoking ban at indoor public places or fire-risk areas has been ordered by the Ministry of Public Security.
Foreign Employees Limited, Malaysia Is Suffering Through a Labour Shortage
Unable to find Malaysians willing to work as cooks, waiters or dishwashers, he is awaiting approval to employ more foreigners. But if he cannot get more workers soon, he says, he might close one of his outlets. Mr. Muneandy, an 18-year veteran of the industry, is even considering other business ventures.
China’s growth - economic or accounting miracle?
By now, most investors would be familiar with the China growth story - possibly 10 per cent GDP growth which has powered the country’s stock markets’ rise of more than 80 per cent this year alone. Even though there has been the occasional warning about a speculative stock market bubble, there is a smug belief that because this year is the 60th anniversary of the founding of the People’s Republic of China, an image-obsessed government keen to cement the country’s reputation as the next big economic powerhouse will do its utmost to ensure the party carries on - pretty much along the lines of the US, where the Treasury and Federal Reserve have pumped trillions into the system to keep Wall Street afloat and to keep up the appearance of a recovery.
China’s Exit Dilemma: Green Shooting, or Over Shooting and Hard Landing?
China’s economy is walking on the wild side. Prolonged loose fiscal policies can push the economy into uncontrollable inflation, while premature tightening of policies could stall it and topple it over into deflation. The banking sector, set off the leash by the central government, is the initiator of this cycle, but will also become its biggest victim if its profligate lending brings the wolf to the door.
China’s Distorted Economy: SOEs Crowd out Private Enterprise
The great adjustment of China’s macro-control policies in the global slowdown has turned out to be a huge boost for its state-owned enterprises (SOEs), unfortunately at the cost of driving out the private investment in companies the government claims it needs to set the economy to rights. The current active fiscal policy and loose monetary policy has been heavily slanted towards rapid investment growth by SOEs, fast expansion of SOEs, and the relative shrinking of private enterprise.
China Tightens Grip on Rare Minerals
China is set to tighten its hammerlock on the market for some of the world’s most obscure but valuable minerals.
China Must Adjust Model to Succeed
Beijing frets that the global economic slump is exacerbating unemployment. So it is. But the main culprit for the lack of jobs is China’s own development model.
Andy Xie said China Market may down another 25%
The Shanghai Composite Index, the world’s worst performer in August, may fall another 25 percent as China’s economic recovery isn’t “sustainable,” former Morgan Stanley Asian economist Andy Xie said.
Chinese factories face surprising labour shortage
Demand picking up, but rural workers worried after earlier mass layoffs
Taiwan’s former first lady sentenced on perjury charges
A Taiwan court on Tuesday sentenced the wife of ex-president Chen Shui-bian to a year in jail for perjury, as it passed the first convictions in an unprecedented case against the former first family.
Chinese Spend, Spend, Spend in London Luxury Shops
Gloom-defying shoppers from China are flocking to the luxury stores of London’s West End, outspending Arab royalty, replacing Russia’s departing super-rich and lifting spirits after nine months of recession.
Man in high-heel attack a top property agent
Monday, 31 August 2009
Investors who trusted the ‘experts’ end up losing out
More evidence of pitfalls of acting on “expert” advice in buying stocks. Anyone who did what Wall Street analysts advised last March, it appears, has only losses after the biggest stock market rally in seven decades.
Market rebound tests the faith of Dr. Doom’s disciples
Academic Nouriel Roubini has a mixed track record
Chinese Real Estate Enters a Twilight Zone
China’s real estate market is entering a biding time after this year’s surge. A large number of developers are still purchasing land and arranging finance, preparing for a new round of increases, but prices could also fall depending on the government’s credit policy.
Sunday, 30 August 2009
Drink driving crackdown changes lifestyle, business in China
Drink or drive? This is a dilemma for many Chinese in a society soaked in a centuries-old drinking culture which is now travelling in private motor cars.
Sorry, no English
Service staff from China have been the target of complaints for their poor command of English. The Sunday Times spoke to 15 and found that most had basic training in English before coming here. But they have problems understanding the way Singaporeans speak English. Some are taking language courses to brush up on their fluency.
What's the big deal about Singlish, filled with broken English punctuated with Malay and spoken in wrong intonation/pronounciation? Why look down on non Singlish speaking people? My grand father didn't know a word of English and yet he helped to build what Singapore is today by employing Singlish speaking Singaporeans! Those disgusting people (fake ang moh) who complained are just trying to copy and pretend they are on the same level as the elitists men in white.
What's the big deal about Singlish, filled with broken English punctuated with Malay and spoken in wrong intonation/pronounciation? Why look down on non Singlish speaking people? My grand father didn't know a word of English and yet he helped to build what Singapore is today by employing Singlish speaking Singaporeans! Those disgusting people (fake ang moh) who complained are just trying to copy and pretend they are on the same level as the elitists men in white.
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