Latest Posts By pharoah88
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| 07-May-2010 15:02 |
COSCO SHP SG
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CoscoCorp
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At this moment, YZJ is the better choice. S$0.035 Dividend EX on next Monday. Guaranteed S$0.035 CASH BACK. nOw S$1.30 is a gOOd PRiCE since this mOrning was S$1.34.
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| 07-May-2010 14:58 |
COSCO SHP SG
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CoscoCorp
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I was watching other counters. When i checked on COSCO, it was already S$1.52 / 3. Missed the cherries.
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| 07-May-2010 14:48 |
Genting Sing
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GenSp starts to move up again
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Genting SP needs a RE-CHARGE now | ||||
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| 07-May-2010 13:05 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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Pesek I It was then, a year before the region plunged into chaos, when investors were rushing to Asia with nary a concern about hot money overwhelming developing economies. It ended in tears for governments, households and financiers alike. The good news is that Asia is standing its ground amid the global crisis. The bad news is that Asia is home to the next great asset bubble as tidal waves of capital rush its way. Expect lots of interest-rate volatility as central banks search for a balance between healthy growth and too much. And don’t be surprised if capital controls are a big part of the process. Yes, that bane of investors’ existence is coming at least moderately into vogue. That was clear in Tashkent, Uzbekistan, this week as policy-makers at the International Monetary Fund (IMF) and Asian Development Bank (ADB) appeared less hostile to the idea of limiting the movement of money. As Asia goes full circle from the late 1990s when capital controls were the financial equivalent of a mortal sin, investors are left with no choice but to adapt. That may not be as big a problem as many think. Anything that provides a shock absorber to keep Asia from overheating will be welcome. “I, as an investor, loathe capital controls in all forms, but we will certainly see more of them,” Mr Robert Parker, London-based senior adviser at Credit Suisse Group, told me in Tashkent, where the ADB held its annual meeting. t feels a lot like 1996.CAPITAL CONTROLS When I asked Mr Naoyuki Shinohara, deputy managing director of the IMF, he admitted the institution is now more open to such barriers on capital. The key, of course, is not to go too far by inhibiting growth and scaring off foreign investment that’s needed to support it. It’s a breathtaking sea change when you consider how the IMF was militantly against controls 12 years ago. Back then, Malaysian Prime Minister Mahathir Mohamad was an international pariah for implementing them. In late 2006, investors chastised Thailand for slapping controls on markets. The shift speaks to Asia’s predicament over the next couple of years. Asia has weathered the financial crisis, as just about anyone visiting Tashkent agreed. China and India beat the odds and continue to grow strongly. South Korea confounded the sceptics anew, as did Indonesia. Japan’s persistent malaise aside, Asia is hot and getting hotter. The trouble is, all this good press means Asia may have too much of a good thing on its hands. GREE CE’S WOES As the United States grapples with unemployment, the euro area is trying to avoid disintegration. Greece’s woes are reverberating through markets. There’s little confidence in Asia that a recent US$146-billion ($203-billion) bailout will be the last in Europe. The buzz in Asia is who’s next? Even if concerns about contagion from Europe are overdone, Asia must brace itself for the opposite: Fast-accelerating capital flows from West to East. With official interest rates in the euro area, UK, US and Japan close to zero, world markets are awash in liquidity searching for higher yields. For many, that means Asia. Emerging markets need to take “urgent action” on the surge of liquidity and capital flowing into their economies because they could spur inflation and trigger another crisis, said a report by Standard Chartered. DEBT MA RKE TS One area of concern is debt markets. While vastly improved since the 1990s, Asia still hasn’t built the deep, liquid bond arenas needed to stabilise growth. It means that lots of the capital flowing Asia’s way will end up in stocks and property. In a perfect world, investors would move into bonds as asset prices get frothy. The lack of dynamic secondary debt markets means many may just leave Asia, as opposed to diversifying into the region’s fixed-income investments. It makes Asia more volatile than it should be this year. Capital controls could help ameliorate the problem. One way to go is to implement “targeted controls”, says Mr Masahiro Kawai, head of the Tokyo-based Asian Development Bank Institute. He points to Brazil as an example. Last year, Brazil implemented a tax on foreign purchases of stocks and fixed-income investment in a bid to stem the currency’s advance. Markets took the step much better than Thailand’s 2006 moves, which sent stocks plunging. A point lost on few is that China and India, which have more conservative regulations than the West, weathered the crisis. With the Group of 20 nations dragging their feet on crafting a safer international financial system, governments will feel pressed to do what they can to tame markets. Unlike in 1996, Asia knows a tsunami of cash is coming its way and that it comes with risks. Carefully employed, capital controls could siphon some of the heat from Asia’s latest hot-money challenge. Free-market champions are unlikely to concede that any curbs on money flows are appropriate. Smart people can, and will, debate this issue. It’s inevitable, though, and the sooner markets learn to live with it, the better. Bloo mberg The writer is a Bloomberg News columnist. The opinions expressed are his own.
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| 07-May-2010 12:58 |
Straits Times Index
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STI to cross 3000 boosted by long-term investors
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today Friday May 7, 2010 page comment A tsunami of cash is headed for Asia With interest rates in the West close to zero, markets are awash in liquidity searching for higher yields. William Pesek&analysis28 |
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| 07-May-2010 12:45 |
Others
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GIC and Temasek
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Singapore has nO prOtOcOl ? ? ? ? fOr fOreign Affairs ? ? ? ? fOr Embassy Governance ? ? ? ?
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| 07-May-2010 12:42 |
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GIC and Temasek
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P E R F E C T C O N C L U S I O N
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| 07-May-2010 12:39 |
Others
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GIC and Temasek
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Ionescu asks for cancellation of arrest warrant The former charge d’affaires at the Romanian Embassy in Singapore, Silviu Ionescu, asked the Bucharest Court of Appeal on Wednesday to cancel the arrest warrant against him. Romanian media Ionescu is wanted in connection with two hit-and-run accidents in Singapore last December that left one person dead. The 50-year-old also expressed his confidence that he won’t be brought to trial over the case as prosecutors lack evidence against him. Romania’s Last month, he filed a lawsuit against the state of Singapore, asking for the cancellation of the arrest warrant issued on April 9. Nine O’clock reported that he wanted it cancelled as the warrant has prevented him from leaving the country.Mediafax also reported that the country’s prosecutors had called on the courts to reject Ionescu’s request describing it as unacceptable. The court has yet to make a decision.Saifu lbahri Ism ail |
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| 07-May-2010 12:31 |
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GIC and Temasek
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PERFECT CONCLUSION | ||||
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| 07-May-2010 12:29 |
Others
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GIC and Temasek
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Are there such things as : Deputy Father or Mother or Brother or Sister ? Vice Father or Mother or Brother or Sister ? Assistant Father or Mother or Brother or Sister ? Associate Father or Mother or Brother or Sister ? ? ? ? ?
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| 07-May-2010 11:50 |
Ying Li Intl
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Ying Li
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China cuts Bond Yield in surprise move SHANGHAI unexpectedly cut the yield on its benchmark three-year bonds yesterday, sending a strong signal that Beijing was in no hurry to raise interest rates and preferred to use administrative measures to fend off inflationary pressures. The lower yield on the three year central bank bonds, sold via a regular bi-weekly auction, came as a surprise because traders had expected the central bank to raise or at least keep steady borrowing costs following its decision on Sunday to order banks to set aside more of their deposits as reserves. The People’s Bank of China (PBOC) sold 110 billion yuan ($22.4 billion) of three-year bonds at 2.72 per cent in its regular open market operation, below the 2.74 per cent yield on the threeyear bonds it last sold on April 22. The PBOC also sold 14 billion yuan worth of three-month bills at an unchanged 1.4088 per cent. “The central bank is trying to ease investors’ concerns about an imminent interest rate hike by allowing the three-year bond yield to fall,” said a Shanghai-based trader with a local bank, who declined to be named. Beijing is still unwilling to increase benchmark policy interest rates at the moment as such a move would likely trigger even stronger hot money inflows at a time when it is under tremendous international pressure to allow the Chinese currency to appreciate, the trader said. The PBOC said on Sunday the amount of money banks must keep in reserve would be hiked by 50 basis points from May 10 — the third increase since the beginning of the year. Major lenders will be required to hold 17 per cent of their deposits on reserve from Monday. — China’s central bankAgencies |
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| 07-May-2010 11:43 |
Others
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DOW
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Freddie horror show goes on WASHINGTON Freddie Mac said it would need another US$10.6 billion by June 30. The company has already received more than US$50 billion in taxpayer funds to cover losses from toxic mortgage assets. It also warned that even more aid would be needed, saying: “Freddie Mac expects to request additional draws. The size and timing of such draws will be determined by a variety of factors that could adversely affect the company’s net worth.” In 2008, the US government pledged to ensure that Freddie Mac, and its larger sister organisation Fannie Mae, kept a “positive net worth”. The deal was designed to prop up the vital US housing market from collapsing totally and pushing the economy over the precipice. But in a sign that the US housing sector is still in difficulty, Freddie said on Wednesday the percentage of its loans not paid on time or in full rose to 4.13 per cent in the first three months of the year, up from 3.98 per cent in the final quarter of last year. — Troubled United States government-backed mortgage firm Freddie Mac on Wednesday asked for additional funds from the Treasury Department as it announced a US$6.7-billion ($9.1-billion) loss in the first quarter.Agencies |
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| 07-May-2010 11:39 |
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It has two big dangers — destabilising and having the potential to bringing the world back into a financial crisis again. Mr Heiner Flassbeck, chief economist at the UN Conference on Trade and Development |
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| 07-May-2010 11:37 |
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‘Most serious problem in the world’ UN official says carry trade could send global economy into crisis GENEVA “If you asked me what is the most serious problem in the world now, I would say it’s the carry trade,” said Mr Heiner Flassbeck, chief economist at the United Nations Conference on Trade and Development. A carry trade involves the investor borrowing in a currency that levies low interest rates to invest in another that yields higher interest rates, profiting from the difference between the two rates. The gains are often magnified, depending on the degree of leverage used. With currencies across the developed world — such as the United States dollar and the Japanese yen — priced at low interest rates at the moment, carry traders find it attractive to borrow in these currencies and then selling them to invest in those of emerging economies, such as India, which pay higher interest rates. # WHY INDiA can Pay HiGH interest rate ? # “This dramatically destabilises economies, because capital goes from low interest rate countries which are low-inflation countries or deflation countries to high inflation countries and appreciates the currency higher (sic),” said Mr Flassbeck. “That is clearly a destabilising effect for global trade and has always been a danger of collapse of this trade later,” he added. “It has two big dangers — destabilising and having the potential to bringing the world back into a financial crisis again,” he warned. The dangers of the carry trade were raised by China’s deputy central bank chief Zhu Min at the World Economic Forum in Davos in January, when he warned that it would pose a “real risk this year for the economy”. — Carry trades — a widespread form of speculation on the currency markets — could sink the global economy back into crisis, a top United Nations economist warned yesterday.Agencies |
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| 07-May-2010 11:25 |
Others
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DOW
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ECB resists bond buys, holds key rate LISBON “We didn’t discuss the matter,” ECB president Jean-Claude Trichet said after the bank’s Governing Council left its benchmark interest rate at a record low of 1 per cent — a decision that was widely expected, with investor focus instead on the debt crisis that had been undermining the euro. The euro yesterday fell below US$1.28 for the first time since March 2009, hitting yet another 14-month low of US$1.2692. Yesterday’s ECB meeting was widely considered to be one of its most important since the euro was established in 1999, as the central bank’s governors sought to prevent the Greek debt crisis from overwhelming other eurozone countries. Stressing that Spain and Portugal do not have the same challenges as those faced by Greece, Mr Trichet said yesterday European officials should intensify efforts to cut budget deficits. One idea that had being openly discussed was that the ECB might introduce a new anti-crisis measure, such as supporting bond prices — and the balance sheets of banks holding them — by buying government bonds, even though the bank’s constitution says it cannot directly bail out profligate governments. But the ECB could, so the reasoning goes, buy them in the secondary market from banks, avoiding a direct loan to governments. While the ECB did not consider that option at yesterday’s meeting, analysts said the door remained open for such a move, especially after the central bank’s sharp U-turn on Monday, when it said it would accept junk-rated Greek bonds as collateral for loans. Mr Trichet said yesterday that a default by Athens on its debt is “out of the question”, even with the country barely two weeks away from having to repay €8.5 billion ($15 billion) on bonds maturing on May 19. The Greek government said in a heated parliamentary debate yesterday that the only hope of avoiding bankruptcy is to accept a joint EU and International Monetary Fund rescue package worth €110 billion over three years, despite having to impose harsh austerity measures, including slashing salaries and pensions and increasing taxes, to get the funds. — The European Central Bank yesterday resisted pressure to consider buying government bonds and did not unveil new measures to help relieve the eurozone’s deepening fiscal woes.Agencies |
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| 07-May-2010 10:34 |
StarHub
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Starhub
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# typO cOrrectiOn # Friday: 7 MAY 2010 10:32AM
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| 07-May-2010 10:33 |
StarHub
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Starhub
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Friday: 7 MAY 2010 10:32AM S$2.17 -S$0.01 STARHUB'S Q1 NET PROFIT DOWN ---------------------------- SINGAPORE - StarHub reported a 48.3-per-cent decline in its Q1 net profit to $42.7 million mainly due to higher cost of sales activities. However, revenue for Singapore's second largest telco for the quarter increased 5 per cent to... |
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| 07-May-2010 10:31 |
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US SENATE BANS BAILOUTS ----------------------- WASHINGTON - Spurred by deep election-year voter anger, the United States Senate voted on Wednesday to forbid government-funded bailouts of big banks like those blamed for the global economic meltdown of 2008. In their first substantive... |
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| 07-May-2010 10:26 |
YZJ Shipbldg SGD
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Cruising with the ship ..Yangzijiang
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since the last BreakOut YZJ vOlume was always HiGHER than COSCO. bUt since the cOrrectiOn, YZJ vOlume iS lOwer than COSCO. WHY ? |
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| 07-May-2010 10:21 |
COSCO SHP SG
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CoscoCorp
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Friday: 7 MAY 2010 9AM bOttOm chErriEs S$1.48 COSCO Q1 PROFIT SLIPS 4 PER CENT -------------------------------- Mainboard-listed shipping firm Cosco said its first quarter profit slipped 4 per cent on year to $31.7 million. The lower profit came on the back of a decline in turnover from ship repair, ship conversion and dry bulk shipping.... |
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