Investors take walk on wild side - CLSA Feng Shui Index

Zodiac signs in the Year of the Tiger suggest that investors hoping for a smoother ride in the markets will have to wait a bit longer, according to CLSA’s tongue-in-cheek fung shui index released yesterday.

Operators Pin High Hopes on Singapore Casinos

As Singapore gets ready to open its first casinos, there is little doubt that the controversial decision it made five years ago to allow gambling is going to pay economic dividends for the city-state. But whether the operators of the two giant resorts will be reaping jackpots anytime soon remains the big question.

Yin-yang contracts must be stamped out

The disclosure of fraudulent conduct often foreshadows the bursting of an asset bubble. If so, the revelation of widespread dodgy property transactions on the mainland designed to cheat the taxman may be a signal of worse news to come. So-called “yin-yang” contracts are a common but illegal practice to avoid paying taxes. Officials have long known about it, apparently, but have done little for fear of upsetting shaky market sentiment during the financial crisis. They may soon have to pay a much higher price for not cracking down on the practice.

The people’s will

Public sentiment can play a dangerous role in mainland justice

China’s clout doesn’t extend to ore price

China is pressing to turn its status as the world’s biggest steel producer into clout over global miners and cheaper iron ore prices. But its tactics failed in 2009 and there are few indications it will fare better this year.

Bank of China pulls back mortgage discount policy

Bank of China, the country’s third-largest bank by market capitalisation, said on Wednesday it had cut a discount on mortgage rates offered to home buyers, in an effort to optimise lending structures.

Feng shui master arrested in Hong Kong over tycoon’s will

Hong Kong police arrested a feng shui master Wednesday after the High Court dismissed as fraudulent his claim to the estate of eccentric property tycoon Nina Wang.

“Big bubble risk”

Fitch Ratings warned on Wednesday that banks in China face the greatest ‘bubble risk’ of any Asian country, one day after it downgraded two mid-sized Chinese banks due to the rising threat of bad credit.

Fung shui master Tony Chan arrested

Police arrested fung shui master Tony Chan Chun-chuen on Wednesday afternoon after searching his home on the Peak.

Chan’s chances of appeal win slim, lawyer says

Tony Chan Chun-chuen’s chances of winning an appeal against a court decision awarding control of Chinachem boss Nina Wang’s multi-billion-dollar estate to a family charitable trust are very slim, according to a senior lawyer who has read the more than 300 pages of judgment.

Court battle puts heat on fung shui masters

Regardless of whether Tony Chan Chun-chuen is a real fung shui master or not, his legal battle sent a shockwave through the trade and has resulted in many practitioners coming under scrutiny from tax officials.

Siblings say big sister is up there smiling

Joining him in the room packed with 100 journalists were his sisters, Dr. Molly Gong Chung-sum and Kung Yan-sum. “Like everyone, I feel very happy,” Kung said as he thanked company staff, lawyers and the public for their support during the trial. “I think my big sister up there will also smile. She must be extremely happy now.”

A will? No way

Police may probe Tony Chan after judge dismisses as forgery the will purported to leave him Nina Wang’s billions

Judge devotes a third of ruling to fake signatures

More than a third of the 300-odd pages of the judgment in the Nina Wang probate battle was devoted to analysing the signatures on the will fung shui master Tony Chan Chun-chuen claimed left him her fortune of at least HK$10 billion.

Excerpts from the judge’s ruling

‘The court does not believe that their relationship was such that Nina was prepared to give him her entire estate irrespective of her other commitments and responsibilities.

Tycoon Nina Wang’s lover loses claim to her fortune

Judge declares signature on 2006 will is forged; upholds previous will

Players at centre of Harry Elias storm tell their stories

Philip Fong, Latiff Ibrahim give their accounts of last week’s resignations

Trading secrets for business in China

Maze of purchase rules, joint venture demands frustrate foreign firms

Developer penalised in Beijing for land deal delay

A developer said on Tuesday it was penalised by mainland authorities for failing to complete a major Beijing land deal on time, as authorities clamp down on land purchase and development practices while moving to fend off property price bubbles.

What next for China’s monetary policy?

China has begun moving at the margins to withdraw excess cash from the financial system, as a spike in lending in the first few weeks of the year prompted concerns that credit growth was getting out of hand.