Posts

Showing posts from 2012

New Bull

The end of Mayan calendar marks the beginning of the Bull calendar. 大难不死必有后福

China to overhaul struggling solar panel industry

China’s government says it will encourage mergers among producers of solar panels to strengthen an industry that has suffered huge losses due to excess production capacity and price-cutting wars.

Smoking gun on Olam still missing

Muddy Waters may lose credibility unless it proves aggressive claims

Time to rethink rules on short-selling

Regulations that transcend national borders may be necessary

Olam hits out as stock sinks in Muddy Waters

It denies charges, threatens legal action; says US short-seller visited its office incognito He went on to describe an extraordinarily secretive visit that Mr Block had made to Olam's office on Nov 1 along with representatives of a hedge fund. "He impersonated somebody else. When we pushed him, he didn't give us a card - he said he didn't carry a card. He said he was an investor of the hedge fund that came to us, and that as an investor he made a practice of knowing what the hedge fund was investing in."

Block raises stakes with attack on Olam

Image
Carson Block is going after bigger game

Million Dollar Traders

Image
Part 1 Part 2 Part 3

胡立阳的投资秘笈系列:量价关系

Video

Eye on conservation shophouses

There are investment opportunities in this unique segment of the property market

Indonesia’s Geo Energy prices IPO at 32.5¢ a share

Indonesian coal-mining company Geo Energy Group is heading for a Singapore Exchange (SGX) mainboard listing with an initial public offering of 289.26 million shares at 32.5 cents each.

Indonesia digs hole for itself with new mining laws

For decades explorers have enjoyed a place on the cutting edge of the country’s mining boom as they scoured the earth for fresh mineral deposits, a process that can take years and cost hundreds of millions of dollars before payback. But now they complain that new rules aimed at boosting state revenue from natural resources have slashed investment in mineral prospecting and could threaten the entire US$93 billion sector.

FX traders seek coaching in battle for dominance

In the take-no-prisoners world of foreign exchange dealing, asking traders to look inside themselves and confront their inner demons may seem a forlorn endeavor. Read more...

US hedge funds play ‘catch-up’ after missing rally

* Hedge funds reverse bets against stocks * Funds fall far short of S&P gains in 2012 -Credit Suisse * Hedge funds increase bets on volatile, higher-risk stocks

Disclosure guidance welcome

Key concepts and principles arising out of CJ’s decision in Airocean directors case should be noted

Pan-El case: Tan Koon Swan won’t sue

A prominent Malaysian businessman and politician imprisoned for commercial crimes that led to the collapse of Singapore-based Pan-Electric Industries (Pan-El) in the 1980s will not take legal action against his prosecutors, despite suggestions that he may have been wrongly convicted.

Spotlight falls on low-profile Hotel Properties

The recent successful listing of Far East Hospitality Trust (FEHT) - which attracted a subscription rate of over 30 times - has thrown the spotlight on the somewhat low-profile and under-researched Hotel Properties Ltd (HPL).

Hedge funds boost commodity bets

Long positions raised before talk of moves by Europe, US, China to revive global growth fuelled surge in prices for a sixth week

Financial traders share traits with psychopaths

Recent research suggests that not only are financial traders wired differently, but that they have a lot in common with psychopaths

Jim Rogers: Historic Shift Coming in 2013

Image

Chinese companies pull out of US stock markets

Just a few years after Chinese companies lined up to sell shares on Wall Street, a growing number are reversing course and pulling out of U.S. exchanges.

Developers keen on Myanmar projects

Foreign firms’ influx creates demand for housing, offices

Small dealerships being driven out

Liquidity problems, lower profits and a policy of industry consolidation are making it tough for smaller car dealers to survive on the mainland

SGX should not punch above its weight

It should focus on enhancing quality of listings through enforcement, before scandals drive away high quality foreign firms

Hedge funds up their bets on commodities

Hedge funds raised commodity bets in the longest bullish streak in three years as speculation that policymakers will increase economic stimulus drove prices towards the biggest monthly rally since last October.

China's Answer to Subprime Bets: The 'Golden Elephant'

The Chinese investment vehicle known as "Golden Elephant No. 38" promises buyers a 7.2 percent return per year. That's more than double the rate offered on savings accounts nationally. Read on...

Harder to prosecute IDs in wake of Airocean ruling

Independent directors emit sigh of relief

Brokers wary of costs, contra as SGX plans margin rules

Proposed new margin will be first line of defence if member defaults

Seven years on, Airocean ex-IDs get clean chit

Mr. Madhavan - This verdict has gone a long way to correct a grave injustice that all three of us suffered and this matter took a long, long time to resolve

Understanding High Frequency Trading

Image

Wall Street: The Speed Traders

Image

Aussie miner prepares for legal battle over Indonesian asset

Intrepid Mines forced to quit Java project worth US$5b

How China law interprets ‘misappropriation’ of funds

Analysts shed light on an issue close to the heart of many S-chip investors

Sinking orders for China’s shipyards

A mix of factors including overcapacity and low freight rates are setting the country’s shipbuilding industry on course for its worst year in a decade

China’s economy cools, shows need for policy action

China’s growth rate slowed for a sixth successive quarter to its slackest pace in more than three years, highlighting the need for more policy vigilance from Beijing even as signs emerge that action taken so far is beginning to stabilize the economy.

China’s slowdown spreads pain despite stimulus

China’s economic slowdown slammed into Li Fangliang, cutting sales at his Shanghai auto parts store by half.

Confidence is Everything! - Joe Fahmy

From all the reading I’ve done, amazing people I’ve talked to, and my own life observations, I’ve come to the conclusion that: Confidence is everything! No matter what you do in life, you have to believe in yourself and maintain a strong state of mind…especially if you’re a stock trader.

How Bernanke will cause the next crash before 2014

Rich will lose 50% in massive wealth destructi on   Read on...

Joining hands - but for how long?

Foreign firms are turning their attention to China’s hinterland, but now their mainland partners are not so needy - and tie-ups can easily go sour

China seeks to wrest offshore rig crown from Singapore, South Korea

China is emerging as a strong contender to the traditional offshore oil rig manufacturing powerhouses of Singapore and South Korea as shipyards such as COSCO Corp fight for a bigger market share in a deepwater exploration boom.

Equinix plots new investments in China

US-based data-centre provider is eyeing more Chinese cities, including expansion in Hong Kong, after a Shanghai acquisition

Arming leaders with the China quotient

Because the country is so complex, top executives need to grasp its political, social, cultural and historical paradigms when trying to unravel its economics, says LOW YEN LING

Independent US report points to pickup in China

Official data may lag behind findings of private survey based on Fed’s ‘Beige Book’ by one to three months

Time to ‘bottom fish’ commodity stocks?

Views mixed; some see firms doing better, others cite China uncertainty

Timing Your Investment In the Singapore Property Market

Image
If you’ve been in the market long enough, you’d have noticed that property prices go up and down in stretches over varying periods of time. In markets as in real life, gravity rules – what goes up must come down. Read on...

The battle to rein in wayward local officials

Jury is still out on who will win the all-important struggle for control of the property market

Short shrift for Chinese firms

Mainland companies looking to raise money on offshore exchanges increasingly run the risk of attracting the critical attention of short sellers

Lower interest rates may do little to boost China’s growth

With a decline in demand for new loans many analysts doubt that any further reductions on the mainland will do much to revive interest in bank lending

Big losses for more than a third of mainland investors

More than one-third of mainland investors say they have lost at least 30 per cent of their equity investments in the first half of this year, an embarrassment for chief securities regulator Guo Shuqing.

Wen pledge to keep property market curbs

Premier insists Beijing will not relax campaign to restrain prices and limit speculation in wake of central bank’s second interest rate cut in a month

Hit at home, China’s ghost fleet sails high seas

China’s huge fleet of coastal ships, usually confined to plying the Chinese seaboard, has sailed out of the shadows to seek international business in yet another sign that China’s economy is slowing.

Li Ning shares jump after CEO quits

China’s best known local sportswear group Li Ning Company Limited, grappling with a slowdown that has halved its share price in recent months, replaced its chief executive on Thursday and said it will focus more on its business in China.

Evergrande reports fraud claim to police

Evergrande Real Estate, the second-largest mainland developer by sales, has reported accusations made against it by United States-based short seller Citron Research to the Hong Kong police.

Barclays was desperate, Diamond says

The former boss of Barclays said yesterday that the British bank illegally reported low borrowing rates in October 2008 because other banks were reporting even lower ones, making Barclays look bad and threatening efforts to attract investment from Qatar.

A matter of great interest

The scandal over Barclays’ efforts to rig interbank rates has put the relationship between big banks and financial regulators under the microscope

The rate that sets the lending standard

The London interbank offered rate, or Libor, touches many aspects of people’s lives, from their investments to home mortgages.

Home prices pick up as demand rises

China, Singapore and Australia see home prices rise on the back of low interest rates and investors’ appetite for returns

Reminder of Macau’s violent past

The recent assault on VIP junket operator Ng Man-sun recalls the Macau casino industry’s less than savoury past, an era largely left behind as profits have risen

Da Vinci loses first lawsuit for deceiving customer

Consumers won their first lawsuit against a luxury furniture retailer as a district court in Hangzhou, Zhejiang ordered Da Vinci to pay 3.23 million yuan (HK$3.94 million) for making false claims about its goods.

Chongqing investors eye shops for best returns

The retail sector is seen as being more competitive as government cooling measures, including loan restrictions, curb demand and prices for homes

Dealing with a Double Whammy

In the past decade China gained Western jobs and exports markets, but the loss of both means that serious systemic flaws are being laid bare

Mixed picture on accuracy of China’s economic data

The true depth of the economic slowdown on the mainland has come under the spotlight following a report in the New York Times claiming that China had falsified data to understate the severity of the downturn.

A message in conflicting data from China

Two rival measures give different diagnoses of the mainland’s economic health but each has a point

To Save the Euro, Leave It

A better, bolder and, until now, almost inconceivable solution is for Germany to reintroduce the mark, which would cause the euro to immediately decline in value. Such a devaluation would give troubled economies, especially those of Greece, Italy and Spain, the financial flexibility they need to stabilize themselves.

Cosco looks more vulnerable than Yangzijiang

Woes in Greece and the dry bulk shipping sector have simultaneously, and finally, washed up on the shores of Singapore-listed shipbuilder Yangzijiang.

Flaws in China’s economy mean tough times ahead

Shujie Yao says serious structural flaws in the Chinese economy mean the days of near-double-digit growth are over. The nation must now prepare for three years of hardship, which will be felt by the rest of the world

China Equity Bulls Still Wait For Their Moment in the Sun

Low valuations, market reforms and the prospect of monetary easing were all supposed to bring about a long-awaited turnaround for China’s languishing stock market this year, but halfway into 2011 and Chinese stocks have failed to live up to their promise.

Resurgent China to Lead Asia Growth in Second Half: HSBC

Economic growth in Asia, which has been slowing in recent months, is set to recover in the second-half of the year, on the back of a rebound in China, say economists at HSBC.

Investor finds exit blocked

Actis’ problems cashing out its stake in the mainland’s Xiabu Xiabu restaurant chain illustrate common issues facing private equity in China

Looming US dollar shortage could wreak massive damage

The strengthening of the greenback in recent months might be the start of more financial trouble as businesses and speculators rush to cover their short positions

Xiao Nan Guo reheats IPO at lower offering price

Restaurant chain trims its fund-raising goal by one-fifth to make it more attractive to investors, nine months after the group shelved listing plans

Hontex told to pay back HK$1b to investors

High Court makes landmark ruling backing SFC after company was found to have put misleading information in its HK listing prospectus in 2009

China’s ‘Amazon’ to delay I.P.O.

Jingdong Mall develops cold feet amid market uncertainty and pushes back US$5 billion Nasdaq listing, which was to be launched by September

US asks Big Four to hand over audit papers on China firms

The Chinese arms of all of the Big Four audit firms have been asked by US regulators to turn over documents related to audits of China-based companies listed in the United States, a person familiar with the matter said on Tuesday.

US Heads for Showdown With China Over Auditing

The Chinese arms of all of the Big Four audit firms have been asked by U.S. regulators to turn over documents related to audits of China-based companies listed in the United States, a person familiar with the matter said on Tuesday.

Asiasons PE fund buys Hi-5 pre-school TV show

A Singapore-based private equity fund is now the proud owner of the outstretched arms and slapping palms of popular children’s entertainment brand Hi-5 Australia.

Yangzijiang head clears air on donation

He gave dividends to foundation, and not stake in firm

Noble Ex-Chief Leiman Seeks Bonus And Shares in Lawsuit

Ricardo Leiman, who quit Noble Group Ltd. (NOBL) the day it posted its first quarterly loss in about 14 years, sued a unit of Asia’s biggest commodity supplier, claiming his shares and 2011 bonus were wrongfully withheld.

Former China Sky Chemical Fibre executive director sued over unpaid bank loan

Huang Zhong Xuan, former executive director and CEO of China Sky Chemical Fibre, has been accused of defaulting on a $7.5 million loan from a bank. The bank has filed a lawsuit against Huang and three guarantors, including his wife, in the High Court to seek the return of the amount owing.

Yangzijiang Shipbuilding Chairman donates 27.83% equity stake

Yangzijiang Shipbuilding’s founding Chairman, Mr Ren Yuanlin, has donated US$750 mln worth of his stocks in the group to Yuanlin Charity Foundation which helps senior citizens in China.

Li Ning Profit Warning Sends Shares to 6½ Year Low

Private equity-backed Chinese sportswear brand Li Ning warned of a "substantial decline" in profit for 2012 due to weaker sales and higher marketing costs, knocking its shares to a 6-1/2 year low. Read more...

Chinese Banks Told to Review Risk

China's banking regulator has told banks to assess loans to credit guarantee firms and step up checks on the sector, sources who have seen the documents told Reuters on Monday. Read more...

China rate cut sparks fears of grim May data

Global cheers over China's decision to cut interest rates faded on Friday as investors and economists worried that the move signalled the impending release of grim economic data.

U.S. coal exports to China may double in 2012: Xcoal

U.S. coal exports to China could more than double to over 12 million tonnes in 2012 thanks to depressed freight rates and a fall in domestic demand in the United States, the chief of top U.S. coal exporter Xcoal Energy & Resources said.

Australia’s Coal Mining Boom Ends as Prices Tumble

Falling coal prices and soaring costs have forced Australia’s producers to start trimming output and letting go of some workers, hurting miners, rail and port operators and potentially threatening plans for more than $30 billion of investment in new mines.

Need for caution on investing in Myanmar

By all accounts, Myanmar opposition leader Aung San Suu Kyi had a successful visit to Thailand in what was her first trip abroad after 24 years. The 66-year-old parliamentarian enjoyed a superstar-like welcome and made the most of her short trip to highlight the plight of her fellow countrymen overseas, such as exploited migrant workers and war refugees.

Myanmar may find property bubble a key challenge

High-end property prices in Mandalay, Yangon soaring

SembMarine loses fight for remaining PPLS stake

High Court judge dismisses its claims in their entirety, orders it to pay defendants' costs

China shipyards slash prices to survive

Chinese shipyards are offering to sell vessels at discounts of more than 20 per cent as builders look to protect market share from higher quality Asian rivals and stay afloat amid a wave of consolidation, industry sources said.

Some Key Dates for June

June 1 - U.S. May employment report, China PMI June 6 - European Central Bank rates meeting June 7 - Fed Chairman Ben Bernanke Congressional testimony June 8 - China economic releases June 17 - Greek election June 18/19 - G-20 in Mexico June 19/20 - FOMC Meeting June 28/29 - European leaders summit

US$500m in Asian private equity headed for Myanmar

Investors including Faber-backed fund eye 30% returns but heavy risks exist

Chinese buyers default on coal, iron ore shipments

Chinese buyers are deferring delivery or have defaulted on coal and iron ore deliveries following a drop in prices, traders said, providing more evidence that a slowdown in the world’s second-largest economy is hitting its appetite for commodities.

Beijing likely to free up interest rates this year

Experts say trial liberalisation would allow banks more freedom to set lending and borrowing levels

China Buyers Defer Raw Material Cargos

Chinese consumers of thermal coal and iron ore are asking traders to defer cargos and – in some cases – defaulting on their contracts, in the clearest sign yet of the impact of the country’s economic slowdown on the global raw materials markets.

China's towering metal stockpiles cast economic shadow

When metals warehouses in top consumer China are so full that workers start stockpiling iron ore in granaries and copper in car parks, you know the global economy could be in trouble.

Far East buyers beware in London property rush

When Hong Kong businessman Mr. He paid a 35,000 pound deposit on a four-bedroom apartment in Britain, he believed it was a 40-minute walk from central London, his lawyer says. In fact it was a 40-minute journey by high-speed train.

Getting to know perpetual securities

They offer regular payouts at fixed rates, but are not like regular bonds

Stocks battered by macro gloom, capping bad week

Hong Kong had a bad day yesterday, capping a bad week.

Yards in line for huge ship orders

Once massive ships are allowed into mainland ports, shipyards could see big orders for them, analysts say

Indonesia to impose 20 pct tax on raw metal exports

Indonesia's government will impose an average 20 percent duty on 14 mineral ore exports including copper, gold and nickel from Sunday, slightly lower than expected but enough to hurt miners in one of the world's major metals exporters.

Chongqing taps Hong Kong firms to buy distressed assets

Cheung Kong, Hutchison, Shui On approached to buy real estate: source

China's shipyards founder as building boom ends

Welder Zhang fires up his blow torch and looks up at the towering, 8,800-tonnes oil tanker that is likely to be his last job at China's privately owned Qiligang Shipbuilding Co.

Avoiding a hard landing was easy - now for reform

Delivering Beijing’s agenda for change will be no mean feat, and politics will only complicate things

Chinese yards making strong market gains

Mainland companies facing rising demand from operators to build floating, production, storage and offloading vessels

Mainland shipbuilders on consolidation course

State-owned shipyards tipped to take over smaller private operators as dearth of new orders hits hard

Alarm as top mainland developers go into red

Weak sales, credit crunch take toll as most top 30 firms record negative cash flow and rack up debts

Myanmar Sanctions Lifting a Boon and Test for China Firms

The lifting of decades of broad Western sanctions on Myanmar will prove to be both a boon and a test for China, for years the former Burma’s top investor and trading partner, bringing both risk and opportunity for long-established Chinese firms.

A Failure in China Policy

China must address its lack of globally competitive companies to meet the next challenge to its development   Read more...

Drama and violence in battle over a China firm

It may be a tiny Chinese educational company worth a little more than US$200 million, but the ChinaCast Education Corp has found itself embroiled in a battle worthy of a John Grisham novel. Its ousted chief executive Ron Chan has been accused of aiding in the disappearance of ChinaCast’s chops - ornate corporate seals that are needed to approve everything from paychecks to contracts.

Jakarta mulling export tax on thermal coal

Proposal not ruled out as reported earlier, clarifies trade ministry

Bar raised for investors in search of PR status

Company turnover must be at least $200m in property sector, $50m in others

Lawyers clash over the root of SGX’s powers

Is it a public body issuing reprimands or a private club?

SGX rap not open to judicial review: counsel

A former China Sky director has chosen the wrong process in bringing his case against the Singapore Exchange (SGX) to court, the lawyer representing SGX argued yesterday.

How even the savviest get conned

Slick operators abound, building trust with their smooth ways. An Indonesian businessman tells TEH HOOI LING how he and his son were taken for a ride here

Investors shun China IPOs as disputes erode valuations

Profit warnings, auditor disputes and delistings involving Chinese companies trading on foreign exchanges are fuelling investor distrust, wiping out valuations and poisoning the market for new listings.

Hong Kong moves closer to bank liability for IPOs

Hong Kong’s financial market watchdog is launching a public consultation process in the next couple of weeks that seeks to toughen rules for banks sponsoring initial public offerings, including holding them liable for faulty deal documents.

Bankers could be jailed over dodgy listings

Proposals being drawn up by Securities and Futures Commission, after cases of misleading prospectuses, would mean company sponsors becoming liable

Many prefer brokers to online trading

Image
They stick to traditional way despite higher commissions

6 Chinese private equity funds eye undervalued stocks

They are on lookout for S-chips and firms with ethnic Chinese management

MAS seeks court order to freeze former China Sky CEO’s funds

High Court’s interim order prohibits him from sending any money out of Singapore

Indonesia Eyes 25% Mining Export Tax in 2012

Indonesia plans to impose a 25 percent export tax on coal and base metals this year, jumping to 50 percent in 2013, an industry ministry official said on Tuesday, as the major producer of raw materials looks to boost domestic investment and take a bigger slice of mining profits.

China doomsayer sees crash coming

China’s consumption boom is drawing to a close, according to one economist’s contrarian view, which calls for no growth — or even a contraction — in the Chinese economy and the advent of an era of deflation and weaker spending.

Yoma and Interra gain from Myanmar fever

Both see share prices soar due to exposure to country but some analysts cautious

Valuations of Chinese Stocks ‘Below Lehman Levels’: DBS Strategist

Chinese stocks are the cheapest that they have been since the last financial crisis and investors should be positioning for a rebound, which a senior strategist says will happen in the second half of the year.

Role of CFOS

Investor relations (IR) has traditionally been a role outside the perimeter of responsibilities of the chief financial officer (CFO). But this appears to have changed, with the CFO doubling up as an IR officer in many cases.

MCL Land sells 270 Ripple Bay condos

Jury out on whether softening secondary market prices are spreading to new launches

Pitfalls remain as Myanmar steps into sun

Govt signals economic reform but illegal foreign currency market, poor infrastructure are barriers

Directorships and SGX’s dual roles

How independent are independent directors and should the exchange drop its regulatory role?

Investor rush into Myanmar bears little fruit

Sanctions, capital curbs, untested legal arena hold back foreign businesses

Singapore's Temasek: evolution not revolution

Temasek Holdings , the smaller but more visible of Singapore 's two sovereign funds, is moving into a new phase with its investment strategy, and could look more like Blackstone Group , another $160 billion institution, which has grown from a focused private equity firm to a global asset manager. Read more...

New Indonesia law irks foreign investors

Foreign investors are bemoaning a new law in Indonesia that strips them of control over mining assets, the latest in a rash of regulations that reflect what they see as growing ‘resource nationalism’.

RWS gets licences for 2 junket operators

Twelve other applications rejected, reflecting the government’s stringent standards

Olam sees limited downside for arabica coffee futures prices

Singapore commodity firm Olam International sees limited further downside to ICE arabica coffee futures prices, with global supply and demand expected to be balanced until mid-2013, its managing director of coffee said yesterday.

Chaswood shares up 5% in trading debut

Shares of Malaysian-based casual dining operator Chaswood Resources Holding were robust in their trading debut on the Singapore Exchange (SGX) Catalist yesterday.

Chaswood begins trading on SGX today

A Malaysian restaurant operator that aims to be the leading casual dining player in South-east Asia by 2015 begins trading on the Singapore Exchange today with shares issued at 30 cents a share.

Daim’s son takes $4m stake in Asiasons WFG

Mohd Wira Dani Bin Abdul Daim, son of former Malaysian finance minister Daim Zainuddin, is making a $4 million investment in Singapore-listed Asiasons WFG Financial.

Why I Am Leaving Goldman Sachs

Today is my last day at Goldman Sachs. After almost 12 years at the firm — first as a summer intern while at Stanford, then in New York for 10 years, and now in London — I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.

Goldman manifesto echoes past questions about bank

The young banker whose dramatic public resignation stung Goldman Sachs this week joins officials from every corner of the government in questioning whether the august investment house deals honestly with all its clients. Read more...

Departing Goldman banker slams ''rip-off' culture

Goldman Sachs faced an unprecedented assault from one of its own on Wednesday after a banker published a withering resignation letter in the New York Times, calling the Wall Street titan a "toxic" place where managing directors referred to their own clients as "muppets." Read more...

See Hup Seng to build $27m chemical hub

Construction work will begin towards year-end, and the hub is expected to be completed and operational in 2015

IIFL lays off 11, suspends trading, research ops

Singapore’s first Indian broker is suspending its securities trading and research operations here, just over a year after joining the exchange.

Has Singapore Exchange shifted its stand?

Did SGX lie to the public? Nowhere to hide now!

Ex-China Sky director rejects SGX offer

Yeap Wai Kong calls it an affront to common sense, sticks to court action

Judge raises fairness question in sentencing of Airocean directors

Image
  (From left) Madhavan, Ong and Chong are appealing against their convictions and sentences in a case over Airocean's disclosures about a late-2005 corruption investigation of former Airocean chief executive Thomas Tay, who was later found guilty

Is a CPIB probe necessarily material and disclosable info?

Just the fact that a company chief executive is called for questioning by the Corrupt Practices Investigation Bureau (CPIB) doesn’t automatically make it material and disclosable information, lawyers for former directors of Airocean argued in court yesterday.

SGX must just hit offenders hard

In her excellent commentary, ‘Why S-chip fraud cases keep cropping up’ (BT, Feb 17), NUS finance professor Qian Meijun identified the local market’s low valuation as one reason for the scandals relating to China stocks that investors have had to endure over the past five years.

Jim Rogers bets big on Myanmar

Investor Jim Rogers, the chairman of Rogers Holdings who predicted a global commodities rally in 1999, said Myanmar is embracing reform as China did decades earlier and he’s optimistic about the resource-rich nation’s prospects.

Court on why it rejected appeal against insider trading ruling

The Court of Appeal issued a landmark grounds of decision yesterday detailing why it dismissed a bid by Kevin Lew to overturn a High Court ruling that found him liable in Singapore’s first civil penalty action for insider trading.

Trading in SIPs: fine-tuning needed

In last week’s ‘Trading in SIPs: all concerned have to raise their game’ (BT, Hock Lock Siew, Jan 25), we made the point that new rules governing the trading of Specified Investment Products (SIPs) that require investors as well as dealers to pass exams before trading in SIPs could do with a bit of fine-tuning in order to be truly useful in safeguarding investors’ interests. Two areas spring to mind - the present inclusion of stocks that are listed on foreign exchanges as SIPs and the people who are exempt from the exams.

Why S-chip fraud cases keep cropping up

Introduced with the purpose of riding on China’s economic growth and to develop Singapore’s financial market, the listing of Chinese firms in Singapore (S-chips) has, unwillingly and sadly, resulted in a heartbreaking experience for many Singapore investors and Chinese firms themselves.

Put 100% of investment in equities: BlackRock CEO

Investors should have 100 per cent of investments in equities because of valuations and higher returns than bonds, said Laurence Fink, chief executive of BlackRock Inc, the world’s largest money manager.

Asiasons hires auditor to study licence lapse

Asiasons WFG Financial has hired a Big Four independent auditor to investigate the lapse of its broking arm’s licence, and a report is expected around the end of January, chief executive Quah Su-Yin told BT.

S-chips not seen regaining favour in Dragon year

Governance issues and shaky Chinese economy put investors in cautious mood

China to skid, then rebound in Q3

Policy easing will take time to kick in, cushion weak global demand: economists

China Sky saga: Quo vadis, SGX?

Perhaps it's time to consider alternative adjudication mechanisms that serve to enhance confidence of all stakeholders

China eyes pension fund boost for bourse

China’s local governments could plough up to 360 billion yen (S$73 billion) into the domestic stock market under a proposal, which sources familiar with the matter say is with the Cabinet, to allow them to allocate some of their pension funds into shares.

Noble’s Elman prepares CEO succession

Billionaire Richard Elman said that he will soon install a new chief executive officer at Noble Group Ltd as the 71-year-old founder and chairman of Asia’s biggest commodity supplier prepares to ease his managerial control.

SGX silence over China Sky about-face too deafening

Worry is, move may send wrong signals; with implications for S-chip governance

Local yards may be STX OSV suitors

Sembcorp Marine and Keppel Corporation may be in the running to pick up a majority 50.75 per cent share of Norwegian shipbuilder STX OSV.

SGX backs down from court action against China Sky

Both sides’ lawyers have met but China Sky directors were absent at hearing

Tightening of rules seen testing directors

The worry now is that they may be asked to do too much

STX OSV’s rise spurs stake sale expectation

Complete transfer of 50.75% parents’ stake likely: analyst

Did China Sky, SGX meeting breach code?

Meeting notes show major shareholder’s representative there

China Sky-SGX saga a test case

Investors of China Sky Chemical Fibre are caught in the stand-off between the Singapore Exchange (SGX) and China Sky Chemical Fibre. And there appears to be no easy way out of the mess.

2011 is likely Wall Street’s worst year since 1938

For most Wall Street bankers, 2011 was a year they would rather forget. Investors will soon find out just how bad that year was for America’s biggest financial institutions.

Hang Seng Index creator, Stanley Kwan, dies at 86

Image
Stanley Kwan, the banker whose 1969 creation, the Hang Seng Index, became a widely used gauge for the Hong Kong Stock Exchange, has died. He was 86.

China Sky’s independent directors step down with immediate effect

The board split at China Sky Chemical Fibre came to a head yesterday after the group failed to appoint special auditors by the final deadline set by the Singapore Exchange.

SGX asks for court order in China Sky case

In what could be an unprecedented move, Singapore Exchange (SGX) has resorted to applying for a court order to enforce its directive on a defiant S-chip company.

CAD seeks KXD Digital documents in probe

China-based KXD Digital Entertainment has been ordered by the Commercial Affairs Department (CAD) to produce company documents in a probe by the white-collar crime buster under the Securities & Futures Act.

Hot investment trend of 2012 a good way to lose your shirt

Beware of jumping on the repatriation of US-listed Chinese companies - there may be diamonds among them but identifying them has defeated professionals

SGX seeks to remove ‘iceberg order’ function

The Singapore Exchange (SGX) is seeking to remove a trading-engine function provided to market participants in both the securities and derivatives markets to slice large orders into smaller ones.

SGX seeks to remove ‘iceberg order’ function

The Singapore Exchange (SGX) is seeking to remove a trading-engine function provided to market participants in both the securities and derivatives markets to slice large orders into smaller ones.