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30-Jun-2010 14:56

UIS / UIS' major shareholder (Laxey Partners) seeks EGM

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Does that mean ? ? ? ?

SINGAPORE's Financial Governance Standard is belOw PAR ? ? ? ?

hOw can SiNGAPORE ever becOme ASIA REGiONAL FiNCANCiAL CENTRE ? ? ? ?

WAiT lOng lOng lOng lOng ? ? ? ?

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30-Jun-2010 14:35

UIS / UIS' major shareholder (Laxey Partners) seeks EGM

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UIS defends its corporate governance ...

In response to calls by Laxey Partners to look into its independence

Jo-ann Huang

joannhuang@mediacorp.com.sg

SINGAPORE

This was in response to calls by United Kingdom-based hedge fund Laxey Partners, a major shareholder of UIS with a stake of over 10 per cent, that UIS’ board of directors should look into its independence and corporate governance.

In a statement to MediaCorp yesterday, UIS said that it is “subject to the Code of Corporate Governance and has fulfilled the requirements of the Code as to independence”.

It added that it also has on its board “several eminent persons, including Mr Wee Cho Yaw, chairman of UOB, whose reputation is well known in financial circles”.

Mr Andrew Pegge, chief executive officer of Laxey Partners, alleges that with four out of seven directors on UIS’ board linked to UOB and given the bank’s controlling stake in the fund, this may result in a “conflict of interest in terms of the fund’s management”.

Mr Pegge believes UOB holds a sway over the fund’s management direction and the bank’s stronghold over the board may block its efforts to reduce the discount in the fund’s share price to its net asset value (NAV) which is estimated to be about 20 per cent.

“We believe that we and all shareholders should be given the chance to exit at NAV,” said Mr Pegge.

UOB Asset Management is the appointed manager of the fund, which has interests in sectors such as financials, industrials and consumer goods.

The fund made a turnover of $71.6 million last year.

In a separate filing with the Singapore Exchange yesterday, UIS has also rejected Laxey’s requisition for another EGM which sought to remove four of UIS directors, which includes Mr Wee and UOB chief executive Wee Ee Cheong.

UIS also refuted Laxey’s claims and pointed out that the current board of directors were voted in by its shareholders.

With their 1 per cent management fee and higher-than averagedividend yield, most of their longterm investors have not had major objections to the fund’s management style, they added.

Based on its current share price of $1.35, the fund is producing an annualised yield of 4.4 per cent down from nearly 10 per cent in 2008, as a result of its exposure to the recent financial crisis.

* * * * * * * *

We believe that we and all shareholders should be given the chance to exit at NAV (net asset value).

Mr Andrew Pegge,

CEO of Laxey Partners

* * * * * * * *—Mainboard-listed United International Securities (UIS), a closed-end fund which is 49 per cent owned by United Overseas Bank (UOB), defended its corporate governance track record yesterday and maintained that its shareholders have supported its management strategy.

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30-Jun-2010 14:23

Others / DOW & STI

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Petraeus, the loneliest man in America

For the general, escalating an unpopular war in Afghanistan might be just as hazardous as not doing so

Simon Tisdall

pharoah88 ( Date: 30-Jun-2010 14:15) Posted:

Don’t blame the Germans

Working hard, making great products, living within your means —

these aren’t bad principles

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30-Jun-2010 14:18

Others / DOW & STI

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United States President Barack Obama suggests

the Germans are sending the world back into recession.

Billionaire investor George Soros says they are destroying the euro.

French Finance Minister Christine Lagarde thinks they are pushing the euro zone into deflation.

It is all crazy talk.

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30-Jun-2010 14:15

Others / DOW & STI

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Don’t blame the Germans

Working hard, making great products, living within your means —

these aren’t bad principles

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30-Jun-2010 14:05

Crystal / Stable income

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What is the DiVidend YiELD prOmised by K-GREEN ? ? ? ?

10% per annum ? ? ? ?

Guaranteed ? ? ? ?

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30-Jun-2010 13:34

Crystal / Stable income

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whenever something is OPEN to PUBLIC,

gOOd things are nO lOnger there already.

WHERE to find a STUPID OWNER to GIVE gOOd things away vOluntarily ? ? ? ?

UNlesss the OWNER is AUTISTIC ? ? ? ?

And the OWNER's ADVISORS are also AUTISTIC as well ? ? ? ?

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30-Jun-2010 13:29

Crystal / Stable income

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K-Green

Symbol:
LH4U

Currency:
Singapore Dollar

Last:

1.07

-0.04

Vol (K): 14340.0

Trading
Updated Time	30-Jun 12:48
Open	1.06	High	1.11	Low	1.06
Prev Close	1.11	Buy	-	Sell	-
Volume(K)	14340.0	Buy Vol(K)	-	Sell Vol(K)	-
52 Wk High	1.11	52 Wk Low	0.0	52 Wk Avg Vol	11211.0
All Time High	1.33	All Time Low	1.11
Comments	Near 52 wk high

*Technical Analysis Information is updated Daily

Technicals
RSI	-999.0	Williams %R	-999.0
Comments (RSI)	No Info	Comments (W%R)	No Info

Intraday Chart

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30-Jun-2010 13:19

Genting Sing / GenSp starts to move up again

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COSCO appeared to be cOrnered by BiLiONAiRES CARTEL fOr its HiGH PRiCE.

may be Citi and its KAKi want tO buy COSCO cheap cheap cheap cheapy.

I Will be very HAPPY if Citi and its KAKi can slUmp COSCO PRiCE to belOw YangZiJiang.

cheap cheap cheap cheapy COSCO ? ? ? ?

The QUESTiON iS WHEN ? ? ? ?

artng25 ( Date: 30-Jun-2010 12:57) Posted:

Genting Singapore a 'top sell', says Citi

Wed, Jun 30, 2010
my paper

CITI has identified Genting Singapore, which operates casinos in Singapore and Britain, as one of its "top sells", saying the firm's high valuations made it the world's priciest gaming stock.

"Growth rates (for Macau gaming firms) are much stronger. There's also some risk of earnings disappointment," Mr Markus Rosgen, Citi's head of Asia ex-Japan equity strategy, said during a conference call.

Citi also said Genting's casino visitations and gaming turnover were coming in below expectations.

The United States bank's other top sells among Singapore stocks are City Developments Limited, because of its high valuations, and Cosco, as it believes its high ship-repair margins are unsustainable.

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30-Jun-2010 13:12

Genting Sing / GenSp starts to move up again

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If Singapore IRs FAIL,

it WiLL be sEEn by the whole World as

SINGAPORE's World No. 1 ECONOMIC FAILURE.

Since 1980s, 30 years of DUE DILIGENCE had been dOne for a THEME RESORT in SINGAPORE.

First intended lOcatiOn was the East cOast Park but it eventually turned Out tO be a small SPLASH.

In 2010, dOUble IRs are cOmmissiOned sO that two IRs WiLL nOt FAiL alOne.

At least, there is a Second IR to keep cOmpany when One Of them FAiLS.

AlsO, when Only One Of twO theme resorts FAiLS, the BLAME can be placed On the FAiLED theme resort's PETERED Management.

And it WiLL nOt be because SINGAPORE is UNattractive to the World.

MBS alsO cOnfirmed that bOth IRs are in SINGAPORE tO make FRiENDS and nOt tO make ENERMiES.

WiLL SINGAPORE IRs ever FAiL ?

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30-Jun-2010 12:34

Straits Times Index / STI to cross 3000 boosted by long-term investors

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The SHEPHERD   dOes nOt MiLK the SHEEPS

The SHEPHERD   dOes nOt SLAUGHTER the SHEEPS

HEARD that OBAMA is  A LEGENDARY SHEPHERD

from 3rd World INDONESIA to 1st World AMERICA

WiLL The SHEPHERD SURVIVE in the SHEPHERDLESS AGE ? ? ?

WiLL The SHEPHERD  REVIVE the World Economy ? ? ?

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30-Jun-2010 12:15

Straits Times Index / STI to cross 3000 boosted by long-term investors

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I am in Search of The SHEPHERD

may be The SHEPHERDESS

may even be in "DOG" DiSGUiSE

des_khor ( Date: 30-Jun-2010 12:05) Posted:

So what to do ? so scary ! I got no million.. so that can't lose anything ...

pharoah88 ( Date: 30-Jun-2010 11:57) Posted:

1997 SINGAPORE was like HEAVEN

2009 SINGAPORE was like HELL

2010 DON'T LOSE your MiLLiONS to the BiLLiONAIRES

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30-Jun-2010 12:07

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Due tO "The FOXCONN LiMiT"

SUPER RiCH BiLLiONAiRES

are hunting dOwn

MiDDLE CLASS MiLLiONAiRES.

WiLL MiDDLE CLASS MiLLiONAiRES be

TERMiNATED ? ? ? ?

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30-Jun-2010 11:57

Straits Times Index / STI to cross 3000 boosted by long-term investors

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1997 SINGAPORE was like HEAVEN

2009 SINGAPORE was like HELL

2010 DON'T LOSE your MiLLiONS to the BiLLiONAIRES

des_khor ( Date: 30-Jun-2010 11:48) Posted:

So?? what to do now ? migrat ?

pharoah88 ( Date: 30-Jun-2010 11:45) Posted:

I remembered, SINGAPORE proclaimed itself to have the BEST UNDREGROUND DRAINAGE SYSTEM

cOllecting ALL the RAIN WATER intO the RESERVOiRS.

Am I RiGHT or wrOng ? ? ? ?

In the 1990s, SINGAPORE was CLOSE to PERFECTION.

* The ACID TEST 1:

SINGAPORE was ENJOYING the 1997 ASIA FINANCIAL CRISIS.

SINGAPOREANS enjoyed HiGH PURCHASING POWER all Over ASIA during 1998 to 2000.

Since then, the population growth DAMAGED the SINGAPORE ECONOMIC PERFECTION.

** The ACID TEST 2:

SINGAPORE was the WORST HIT by the World Financial Tsunamy SUB-prime CRISIS.

SINGAPORE's METRITOCRATIC SYSTEM had been DAMAGED.

***EVIDENCES:

World No. 1 MERITOCRACY JOKE: MAS SELAMAT "SO LAME" ESCAPE

World No. 1 SECURITY SHAME: SMRT RAFFITI

World No. 1 RESPONSIBILITY OFF-GUARD: ORCHARD ROAD FLOOD

WHEN WiLL sUch World Class FAILURES EVER END in SINGAPORE ? ? ? ?

Other DAMAGES dOne by the population growth:

Since 1970s, SINGAPOREAN was known to be most Proficient in English and Mandarin in ASIA.

Westerner tourists were very impressed by SINGAPOREAN's English Proficiency.

Today: COMPLAINTS from both foreign and local customers on service staff's inability to SERVE English Speaking customers.

SINGAPORE is DE-GRESSING with population growth ? ? ? ?

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30-Jun-2010 11:52

Straits Times Index / STI to cross 3000 boosted by long-term investors

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Singapore:

SIA is issuing $500m 10-year senior unsecured fixed rate note with a coupon of 3.22% (SOR+61bps).

Is SIA really sO prOfitable ? ? ? ?

Are SIA's prOfits earned in CASH ? ? ? ?

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30-Jun-2010 11:45

Straits Times Index / STI to cross 3000 boosted by long-term investors

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I remembered, SINGAPORE proclaimed itself to have the BEST UNDREGROUND DRAINAGE SYSTEM

cOllecting ALL the RAIN WATER intO the RESERVOiRS.

Am I RiGHT or wrOng ? ? ? ?

In the 1990s, SINGAPORE was CLOSE to PERFECTION.

* The ACID TEST 1:

SINGAPORE was ENJOYING the 1997 ASIA FINANCIAL CRISIS.

SINGAPOREANS enjoyed HiGH PURCHASING POWER all Over ASIA during 1998 to 2000.

Since then, the population growth DAMAGED the SINGAPORE ECONOMIC PERFECTION.

** The ACID TEST 2:

SINGAPORE was the WORST HIT by the World Financial Tsunamy SUB-prime CRISIS.

SINGAPORE's METRITOCRATIC SYSTEM had been DAMAGED.

***EVIDENCES:

World No. 1 MERITOCRACY JOKE: MAS SELAMAT "SO LAME" ESCAPE

World No. 1 SECURITY SHAME: SMRT RAFFITI

World No. 1 RESPONSIBILITY OFF-GUARD: ORCHARD ROAD FLOOD

WHEN WiLL sUch World Class FAILURES EVER END in SINGAPORE ? ? ? ?

Other DAMAGES dOne by the population growth:

Since 1970s, SINGAPOREAN was known to be most Proficient in English and Mandarin in ASIA.

Westerner tourists were very impressed by SINGAPOREAN's English Proficiency.

Today: COMPLAINTS from both foreign and local customers on service staff's inability to SERVE English Speaking customers.

SINGAPORE is DE-GRESSING with population growth ? ? ? ?

KuaiLAN ( Date: 30-Jun-2010 11:17) Posted:

when you have more people, your GDP is higher (*is this how we can growth?) so civil servant can get growth bonus, so Singtel can get more subscribers, so our banks have more deposits, so we have more bids for our bungalows, so you cannot find a place to park your car, so you cannot eat in comfort at the food centre..... so the night spots will not be empty.... all said, the nuts are at the wheels.

out-of-the-box ( Date: 30-Jun-2010 10:50) Posted:

Yes, pharoah88, you got the point. Why we need 6 million when we are very comfortable with 2.5 million in the 80s and early 90s? So to get more CPF? People to operate the guns or simply to increase income from levy and push the problem further.

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30-Jun-2010 11:17

Straits Times Index / STI to cross 3000 boosted by long-term investors

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TOP TIER BANKS all Over the wOrld

SUCKED UP MARKET LIQUIDITY in the BiLLiONS

when MARKET LOANS are CURTAILED.

WHAT is the IMPLICATION ? ? ? ?

TOP BANKS, CENTRAL BANKS, GOVERNMENTS

are TECHNICALLY BANKRUPT iN LiQQiDiTY.

WHERE DiD ALL the CASH LiQUiDiTY DiSAPPEAR tO ? ? ? ?

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30-Jun-2010 11:12

Straits Times Index / STI to cross 3000 boosted by long-term investors

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What an analyst says:

"Agricultural Bank’s IPO pricing is lower than what the market expected (or that the market has rumored about). It may give a perception that investors have become very cautious about ‘valuation’.

“So, they are looking for ‘cheap’ stuff and will only BUY when the stocks are ‘cheap’ enough. In such a case, market sentiment will naturally turn to a feeling that the current market is a bit ‘expensive’ or ‘not cheap.

"Finally, any selloff would then trigger a linked effect and it will cause some heavy selling pressure like what we have seen this afternoon."

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30-Jun-2010 10:55

Genting Sing / GenSp starts to move up again

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SUPER RICH BILLIONAIRES CARTEL

WiLL NEVER be BANKRUPT

because they are the CENTRAL BANKS and GOVERNMENTS

MiDDLE CLASS MiLLiONAiRES are the TARGET to be jUiced

MiDDLE CALSS MiLLiONaiRES are the TARGET to be BANKRUPTED

AnthonyTan ( Date: 30-Jun-2010 10:49) Posted:

BBs will go bankrupt when forced selling started

or cash call. Wait to sell lol

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30-Jun-2010 10:50

Genting Sing / GenSp starts to move up again

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In this AGE OF STUPID, there are nO mOre small fishes.

The SUPER RICH cannOt eXtract any mOre jUice frOm the DRiED pOOr

(The FOXCONN LiMiT: iNstead FOXCONN nOw has tO dOuble the DRiED pOOr's SALARIES and retUrn the jUice)

The NEXT WAVE for the SUPER RICH BILLIONAIRES is to

make the MiDDLE CLASS MiLLiONAiRES pOOr

MiDDLE CLASS MiLLiONAiRES are the ONLY jUice left

BEWARE

AWARE

SCARE

CARE

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