Tuesday, December 28, 2010

Great Eastern Gets ‘AA–’ Credit Rating from S&P

Great Eastern Life Assurance Company Limited has been assigned the financial strength and counterparty credit rating of ‘AA–’ with a stable outlook by Standard & Poor’s Ratings Services.

Fang Ai Lian, Chairman of Great Eastern Holdings, said: “This rating reflects our very strong business profile, our superior capitalisation, and well-developed risk management framework. It is also a testament to our very strong business position within Singapore and Malaysia, our excellent branding and diversified product offerings.”

“This rating will be helpful in giving greater formal assurance to the various counterparties and customers with which we have regular dealings in the course of our business. It will also provide better corporate transparency to the investing community and financial markets,” Fang added.

Friday, December 24, 2010

GLP buys stake in key logistic facility player

Global Logistic Properties (GLP) delivered an early Christmas gift to its shareholders

yesterday with an acquisition that will give it a stake in China's second largest logistic

facilities provider. The deal, however, received a lukewarm response from investors

who appear unwilling to take up new positions as the year draws close to an end. The

owner of warehouses and other logistic assets in China and Japan said it has bought

19.9 per cent of Shenzhen Chiwan Petroleum Supply Base Co (SCPSB) for HK$539.2

million (S$90.8 million). SCPSB is the parent of China logistic facilities player BLOGIS -

the No 2 provider of such properties in the country after GLP. The price means that

GLP will pay HK$11.75 for each share acquired, and is at a 1.4 per cent discount to

SCPSB's closing price of HK$11.92 on Dec 21. It will use the proceeds from its recent

initial public offering to pay for the acquisition.

Thursday, December 23, 2010

CapitaMalls Asia to Acquire Malaysian Assets

CapitaMalls Asia Limited (“CMA”) will acquire approximately 90.7 per

cent of the retail strata area (approximately 916,181 square feet) and

all car park spaces within Queensbay Mall in Penang, Malaysia

(“Properties”) through CMA’s subsidiaries and an asset-backed

securitisation structure at a purchase consideration of approximately

RM651.8 million, subject to all relevant regulatory approvals.

Pursuant to the right of first refusal granted by CMA to CapitaMalls

Malaysia Trust (“CMMT”) dated 10 June 2010, CMA has offered to

CMMT the first right to acquire the Properties.

CapitaMalls Malaysia REIT Management Sdn Bhd, the manager of

CMMT, announced that it has evaluated the offer and has decided

not to acquire the Properties at this juncture after taking into consideration

various strategic factors.

Sunday, December 19, 2010


Monday, 20 Dec

10:00am - Tony Moly Marina Square Outlet
Note: A closed door interview with media is held at this time and there will be barricades outside the store. Nevertheless, you can catch glimpses of SJK and take pictures of him.

4:00pm - SJK Tony Moly Fan Sign @ Bugis Junction Open Atrium
Note: Only fans with fan sign pass can meet SJK up close and personal.

The fan sign area will be barricade for media and fans with pass only. Fans without pass can only see SJK from far. If you do not have the pass, only be at the atrium around 3pm. You can't reserve standing place at the atrium because the area beyond the barricades is public walk way. Be prepared to squeeze and tip toe.

Thursday, December 16, 2010

Suntec REIT Gets ‘Stable’ Outlook Rating from Moody’s

ARA Trust Management (Suntec) Limited, as manager of Suntec

Real Estate Investment Trust, announced that its corporate family

rating was rated “stable” by Moody’s Investors Service.

The corporate family rating was rated Baa2, while its unsecured debt

rating was Baa3.

Moody’s recent rating review was initiated subsequent to the

announcement of the acquisition of a one-third interest in the Marina

Bay Financial Centre Towers 1 and 2 and the Marina Bay Link Mall.

Suntec REIR said the acquisition has been completed with partial

funding by a S$1.105 billion term loan facility, and the remainder is

funded by S$417.9 million of net proceeds derived from the private

placement of 313,000,000 new units in Suntec REIT.

Yeo See Kiat, Chief Executive Officer of ARA Trust Management

(Suntec) Limited, said: “The recently completed acquisition is a

strategic addition to Suntec REIT’s asset portfolio. It is a high-quality

asset with a blue-chip tenant base, and is expected to provide a

stable and sustainable income stream.”

Saturday, December 11, 2010

Great Eastern Launches Islamic Insurance Unit

Great Eastern Holdings Limited, together with Malaysian partner

Koperasi Angkatan Tentera (M) Berhad (KAT), on Friday launched

Great Eastern Takaful Sdn Bhd (GETSB).

GETSB will adopt a “Takaful for All” approach and provide comprehensive

Takaful products and services for all Malaysians, both

Muslims and non-Muslims alike.

Commented Mrs Fang Ai Lian, Chairman of Great Eastern Holdings,

“Malaysia is a key and significant market for the Great Eastern

Group. This makes it the perfect platform for us to launch our Takaful

business. The market penetration rate for the Takaful business in

Malaysia remains relatively low. This large untapped market presents

an enormous business opportunity for us, which we hope to translate

into a significant engine of growth for the Group.”

GETSB aims to achieve RM180 million (about S$75 million) in Total

Weighted Contributions in the first year of operations.

Takaful is a type of Islamic insurance, where members contribute

money into a pooling system in order to guarantee each other

against loss or damage. Takaful-branded insurance is based on

Sharia, the Islamic religious law.

Saturday, December 04, 2010

Raymond Lam Desire Tour Promotional Appearance

Calling all fans of TVB heartthrob Raymond Lam! Raymond Lam will be making his Promotional Appearance at Downtown East on 4 December!

Bring along your Desire Tour – Raymond Lam Live in Singapore 2011 ticket as only the first 150 ticket holders with an Autograph Pass will be entitled to the Autograph Session with Raymond Lam.

Limited edition merchandizes will be available for sale! So be the first to grab hold of your favourite item!

NTUC & nEb0 members can enjoy 10% discount on ‘Desire Tour – Raymond Lam Live in Singapore 2011’ concert tickets from 4 – 11 December 2010. Simply flash your NTUC or nEb0 member card at all SISTIC authorized agents or box office!

So make a date with Raymond Lam at the Event Square on 4 Dec!

Date : 4 December 2010
Time : 3pm
Venue : Event Square

Friday, December 03, 2010

Morgan Stanley Said to Sell 34.3-per cent CICC Stake to Various Parties

Morgan Stanley is selling its 34.3-per cent stake in China International
Capital Corp (CICC) to Kohlberg Kravis Roberts & Co (KKR),
TPG Capital, Singapore’s Great Eastern Holdings Ltd and the island
nation’s sovereign-wealth fund, four people with direct knowledge of
the deal said.
Morgan Stanley plans to sell stakes of about 10 per cent each to TPG
and KKR, and about a 5-per cent stake to Great Eastern, the insurer
controlled by Oversea-Chinese Banking Corp, said the people, who
declined to be identified because the matter is not public. Government
of Singapore Investment Corp (GIC) will buy the remainder, the
people said. The 34.3-per cent stake is valued at about US$1 billion,
two of the people said.
The sale will end Morgan Stanley’s 15-year involvement in CICC, the
first Sino-foreign investment bank and the top-ranked underwriter of
share sales in the country. The US firm, which ceded management
control of CICC a decade ago, plans to form a partnership with
Shenzhen-based China Fortune Securities Co.
CICC is 43.35 per cent owned by Central Huijin Investment Ltd, the
investment arm of China Investment Corp, the nation’s US$300 billion
sovereign fund, according to CICC’s website. GIC and closely held
Mingly Corp each own 7.35 per cent, while China National Investment
& Guaranty Co has 7.65 per cent.
A shareholder of Shenzhen-based China Fortune Securities Co said
this week it approved a plan by the Chinese brokerage to set up a
venture with Morgan Stanley.
Great Eastern was originally in discussions with CICC to buy Morgan
Stanley’s entire stake and the plan was blocked by Chinese regulators,
said one of the people.
Mark Lake, a Morgan Stanley spokesman; TPG spokesman Owen
Blicksilver; and Kristi Huller of KKR declined to comment. Great
Eastern spokeswoman Tan Seck Geok did not return telephone
messages left outside of normal business hours in Singapore and an
e-mail seeking comment was not immediately answered.

Tuesday, November 30, 2010

InnoTek Invests S$15.7 Million in Sabana REIT

InnoTek Limited has invested S$15.7 million in Sabana Shari’ah
Compliant Industrial Real Estate Investment Trust (Sabana REIT),
which was listed last Friday on the Mainboard of the Singapore
Exchange, in a move to enhance shareholder value by increasing the
return from its cash holdings.
InnoTek said it has been allotted 15 million shares at an issue price
of S$1.05 each in Sabana REIT, the first Shari’ah-compliant real
estate investment trust listed on the SGX and the world's largestlisted
Shari’ah-compliant REIT by total assets.
The precision metal components manufacturer, which has substantial
operations in China, held net cash of S$60.8 million or S$0.266
per share as at 30 September 2010. It disposed its data storage
business in FY2007 for US$133 million and has since paid S$0.3
dividends per share, including S$0.05 each year for FY2008 and
“InnoTek has a strong balance sheet and we are very careful how
best to return value to shareholders. While we are still looking to
acquire companies which can add value to our core business, we will
not be rushed. This investment in the REIT offers a much better
return than in bank deposits,” said InnoTek’s Managing Director Mr
Yong Kok Hoon.
According to Sabana REIT’s prospectus, its Reit manager Sabana
Real Estate Investment Management has forecast a distribution yield
of about 8.22 per cent for 2011 and 8.25 per cent for 2012.
InnoTek concurrently announced that it had commenced its share
buyback programme with the acquisition of a combined 583,000
shares so far in November.
It currently holds 19.03 million treasury shares, or 8.3 per cent of the
total issued capital of 227.6 million shares as at 26 November 2010,
after substantial buybacks since the financial year ending 31 December
2007 (FY2007).
Treasury shares are stocks bought back by the issuing company,
reducing the total number of issued shares in the open market. A
reduced issued share capital base increases the earnings per share
and saves the company in dividend payment, indirectly resulting in a
higher yield on net cash.

Monday, November 29, 2010

Ultimate Mnet Live in Asia- Flight details

Date: 1 December
Flight: SQ609
Terminal: T3
Time: 2150

2PM, Miss A, MBlaq
Date: 3 Dec
Flight: SQ603
Terminal: T3
Time: 1415

Date: 4 Dec
Flight: SQ 603
Terminal: T3
Time: 1415

Saturday, November 27, 2010

Star Search 2010 Top 10 《才华横溢出新秀 》10强Roadshow

28th November, Sunday

2.00pm, The Heeren

Our Star Search 2010 Top 10 will be meeting the public again. This time round, a few lucky ones will be able to come on stage to take photos with our Top 10 contestants! Games will be played and freebies will be given out! Someone asked if we’ll do a walk down Orchard Road again… Oh, come on! Give us credit, we’re definitely much more creative than repeating ideas yes?

Tuesday, November 23, 2010

AIA Group loses 2nd senior executive in a week

HONG KONG, Nov 23 - AIA Group Ltd <1299.HK>, the recently spun off Asia life insurance arm of American International Group , has lost another key executive with the resignation of its human resources head Margret Chiu, a spokeswoman told Reuters on Tuesday.

Chiu, an executive vice president and listed in the senior management group in the company's prospectus, resigned for personal reasons, the spokeswoman said, stepping down a week after AIA lost Chris Wei, its chief marketing officer. [ID:nTOE6AG01C]

The departures come after AIA's massive, $20.5 billion IPO, and after AIG put in place a new AIA CEO prior to the offering. Chiu had been with the company since 1991.

Wei, who was responsible for AIA's branding and product strategy, joined AIA two years ago and worked closely with former chief executive Mark Wilson in holding AIA together while AIG was on the brink of collapse.

In July, AIG boss Robert Benmosche removed Wilson as AIA CEO and replaced him with Mark Tucker, a move that followed the failed bid by UK insurer Prudential Plc deal to buy AIA.

Prudential's $35.5 billion initial bid for AIA was met with some opposition at the time, as AIA management was just weeks away from filing for an IPO. AIA lost two senior executives in March, soon after Prudential launched its bid for AIA.

The insurer is going through a transition under Tucker, who is credited with building Prudential's Asian business when he was the top executive there.

Saturday, November 13, 2010

NS Portal Go Beyond Event

DATE - 131110
TIME - ( 12PM TO 5PM )

Saturday, November 06, 2010

Star Search 2010

After nine installments and an illustrious list of alumni, MediaCorp Channel 8’s Star Search remains the definitive platform for talented youths to break into the entertainment scene.

Star Search 10 organised an exclusive shoot for photographers to showcase the different personalities of the 20 semi-finalists.

Of the 500 entries received, 11 outstanding images were chosen to be exhibited.

View the winning images at the Discovery Walk at Star Search 10 Photo Exhibition from 1-7 November.

Come on down to Orchard Central on Sunday, 7 Nov from 2.30pm to 4pm to catch the top 20 finalists live in person with host Pornsak!

Friday, October 29, 2010

CapitaMalls Asia 3Q2010 Net Profit Rises 14 Per cent

CapitaMalls Asia Ltd registered profit after tax and minority
interests (PATMI) of S$68 million for 3Q2010 (ending September
2010), 14 per cent higher than the S$59.6 million for the
corresponding period last year. Revenue under management
was S$325.6 million for the third quarter, 5 per cent higher
than the S$309 million last year.
Earnings before interest and tax (EBIT) came in at S$77.1
million for 3Q2010.
For the first nine months this year, the Group earned Net
Property Income of S$230.2 million, up 27 per cent from the
S$181.3 million registered in 2009. This was supported by
higher gross turnover and shopper traffic across the entire
portfolio of malls.
The Group said the successful listing of CapitaMalls Malaysia
Trust in July has enabled it to recycle its capital in the three
shopping malls in Malaysia for new investments, while creating
a fee income business in the country and a listed vehicle
for holding mature and stabilised assets.
This augurs well for CapitaMalls Asia to further grow its
business in Malaysia, the Group said.

CapitaMalls Asia Ltd closed on Thursday at S$2.140.

Wednesday, October 27, 2010


Q3 Gross Revenue: +2% to S$62.2 mln
Income for Distribution: -3% to S$46.2 mln
DPU: -14% to 2.502 cents

Suntec REIT’s manager says the increase in gross revenue was mainly due to the higher office revenue achieved during the quarter. Its gross office revenue was S$30 mln, which was 5% higher year-on-year. This was mainly due to higher rental income achieved for Suntec City office. Suntec City office contributed about S$27.8 mln in revenue whilst Park Mall office contributed S$2.2 mln in revenue for the quarter.

The trust manager says the pickup in confidence seen in Singapore’s business climate is expected to buoy a favourable outlook for the office market for the rest of the year.

Suntec REIT’s current ratios (by Reuters):
P/E: -
P/B: 0.87
Free cashflow for FY2009: S$26.4 mln

Analysts surveyed by Reuters have on average an OUTPERFORM call on the stock. It was last traded at S$1.56.

Saturday, October 23, 2010

ION Fashion Concert! 2010

Time 23 October · 19:00 - 21:00

Location ION Orchard (Outdoor area)
Created by: ION Orchard

More info Fashion and music come together as the latest runway looks blaze the catwalk, alongside music's hottest act - international star Van Ness Wu, at one of the largest open-air and free concerts along Orchard Road.

The first 50 American Express Cardholders who flash their card from 7pm onwards at the reception will gain entry to the VIP area!

Friday, October 22, 2010

INVEST Insight Seminar

Learn how you can position yourself with the relevant expertise and knowledge on the various investment tools - such as Stocks, Contracts for Difference (CFD), Wine Investment and Land Investment - so that you can build your portfolio as we move into a new year.

Join us and find out for yourselves how all these investment tools are relevant to you, regardless of your trading experience and exposure to date.

Date : 23 October 2010 (Saturday)
Time : 9.00am – 1.00pm
(Registration Starts at 8.30am)
Venue : Singapore Conference Hall,
7 Shenton Way,
Singapore (068810)

Tuesday, October 19, 2010

Global Logistic Properties’ IPO 11 Times Oversubscribed

Global Logistic Properties Limited (GLP), a market leader in

modern logistics facilities in China and Japan, announced that

its Initial Public Offering (IPO) for 13.02 million shares was 11

times oversubscribed, resulting in S$2.2 billion worth of application

monies for the Group.

The Group’s international placement tranche of

1,070,869,000 Offering Shares, being approximately 12 times

oversubscribed, also drew strong interest from institutional


Both the Group’s international placement and public offer

shares were priced at S$1.96 per share, and with the total

offering being about 12 times oversubscribed, gross proceeds

raised from the Global Offering amounted to S$3.9 billion

should the Over-allotment Option be fully exercised.

GLP attracted 10 cornerstone investors who had subscribed

for an aggregate of 588,976,000 shares, including Bosera

Asset Management Co Ltd, ING Clarion Real Estate Securities,

US investment management firm LLC, Lion Global Investors

Limited, CB Richard Ellis Global Real Estate Securities,

Alibaba Group Treasury Limited, Chow Tai Fook Nominee

Limited, and Jovina Investments Limited.

The total number of issued and outstanding shares immediately

after the IPO would be 4,506,689,664 shares. At the

price of S$1.96 per share, the Group would be worth S$8.8

billion, placing it among the top 30 largest companies listed on

the SGX-ST.

GLP’s shares commenced trading at 9.00 am on 18 October 2010.
Global Logistics Properties Limited closed on

Monday at S$2.170.

Saturday, October 09, 2010

Wilmar Undertakes Two Loan Facilities

Commodities trader Wilmar International announced that it

has inked a mandate letter to launch two syndicated loan


The first syndicated loan is a term loan facility worth US$1.1

billion (about S$1.4 billion) to finance the acquisition of

Australia’s largest refined sugar exporter, Sucrogen.

The Group also syndicated a revolving credit facility worth

A$600 million (about S$769 million) to finance the general

corporate and working capital requirements of Sucrogen.

Australia and New Zealand Banking Group and The Hongkong

and Shanghai Banking Corporation have been

appointed the mandated lead arrangers, bookrunners and

underwriters for the facilities. Rabobank International’s Singapore

branch has also agreed to participate in the facilities in a

senior position.

Friday, October 08, 2010

SMART Investment & International Property Expo 2010

The SMART Investment and International Property Expo will be held at Suntec Singapore International Exhibition & Convention Centre this weekend on 9 and 10th October 2010 from 11am to 8pm.

Other than the exhibition booths, there will also be a lineup of speakers giving presentations on different topics from property investment to stock/forex trading.

Some of the speakers include Mohamed Ismail Gafoore (CEO of Propnex), Raymond Chow (CEO of Ray International Real Estate Group) and Sean Niven (CEO of Australian Property Group).

Wednesday, October 06, 2010

Wilmar to Acquire Windsor & Brook Trading

Wilmar International Limited’s (the “Company”) wholly-owned
subsidiary, Wilmar Trading Pte Ltd, has entered into a sale
and purchase agreement to acquire the business of a Singapore
sugar trading company, Windsor & Brook Trading Pte
This acquisition is in line with Wilmar International Limited’s
plans to expand into the sugar business, the Company said.
The Company expects the transaction to be completed later in
the fourth quarter of this year, subject to certain customary
To be funded through internal sources of funds and bank
borrowings, the acquisition is not expected to have a significant
impact on the Company’s financial position.

Tuesday, October 05, 2010

Kuwait Commits US$1 billion to AIA IPO

American International Group Inc received a US$1.0 billion
commitment from Kuwait Investment Authority for the IPO of
its Asian unit, the first major investment inked before the mega
offering's roughly US$15.0 billion launch.
KIA, the country's sovereign wealth fund, is among the major
global institutions that have signed up as cornerstone investors
ahead of AIA Group Ltd's IPO, according to a source on
Monday. The source had direct knowledge of the matter but
was not authorised to speak publicly as the deal has yet to
AIA's IPO is set to start on Tuesday, with shares expected to
start trading on October 29. AIA IPO is likely to be world's
second-largest this year after Agricultural Bank of China Ltd),
which raised US$21.9 billion in Hong Kong and Shanghai in
The planned listing comes after a takeover attempt by British
insurer Prudential Plc collapsed in May over price disagreements.
The key question for AIG is whether the public markets will
give it the US$35.5 billion valuation originally offered by
Prudential. Prudential later dropped the offer to US$30.4
billion just before the bid failed.
"Considering that some of the Chinese insurers are trading
more than 2 times embedded value, I think AIA can get overall
value north of US$30 billion," said Sally Yim, vice president at
Moody's Investors Service in Hong Kong and senior analyst
who covers Asia-Pacific's insurance industry.
Prudential's initial US$35.5 billion bid for AIA was pitched at
1.67 price to embedded value. Embedded value is a measure
commonly used to gauge the value of insurance companies
that includes the present value of future profits from long-term
insurance contracts.
The FT was the first to report KIA's commitment. The paper
also said that the only way KIA agreed to the investment was
because AIG "was forced" to lower its valuation to US$30-$32
billion from US$35-$37 billion.
Research reports have put the valuation range of the offering
from US$29.5 billion to US$38.6 billion, which gives an
embedded value range of 1.1 times EV to 1.7 times.
Ultimately, the valuation is determined by the company and its
underwriters, who gauge the specific embedded value figure
that mutual fund investors are comfortable with.
A valuation that's too high raises the most money but risks an
opening day flop. Too low, and the banks are blamed for not
raising enough.
"AIA is operating in some of the more mature markets like
Singapore and Hong Kong. They have a little bit of a 'China
story', but not as much as the Chinese pure plays," Yim said.

Friday, October 01, 2010


Date: 2nd October 2010, Saturday

Venue: Lot1 Shopping Mall, Level 5, Roof Garden

Time: 4PM

Please don't forget to bring along your copy of Hangeng's album <<庚心>>!!

Tuesday, September 28, 2010

G.NA [Draw G's First Breath] Autograph Session

G.NA [Draw G's First Breath] Autograph Session

Date: 29th Sept (Wed)
Timing: 7pm
Venue: Bugis Junction, Bugis square Level 1

(***Buy G.NA mini-album, [Draw G's First Breath] to get her autograph***)

Singapore will release G.NA first mini-album, [Draw G's First Breath] on 17 Sept. Purchase her mini album in Singapore(Please check that it is in CD size packaging not DVD size package); G.NA will try her best to sign as many as possible within the time limitation on that day. Remember to keep your receipt and presents on the autograph day.

Mini album is on sale at all CD outlets(CD RAMA, Gramophone, Music Junction and HMV) – ON SALE @ S$17.90

*NOTE: Save your receipts when you purchase her album, and wait... there will be a little SURPRISE for some lucky winners in due time! Keep checking back here!*


Friday, September 24, 2010

我相信 張靓穎 簽唱會


時間:7 PM

地點:Bugis Junction Bugis Square 1樓

Thursday, September 23, 2010

楊丞琳 Singapore Concert Autograph Session

Date: 23 September 2010, Thursday

Location: Square2, Novena [Alight @ Novena MRT Station and walk up]

Time: 7PM – 8.30PM

Objective: Exchange your concert ticket for a poster to be signed

Wednesday, September 22, 2010

Insurer AIA sets date for $15 bln Hong Kong IPO

AIA, the Asian unit of troubled US insurer AIG, will launch a 15 billion US dollar share sale on October 29 in what could be the world's second-biggest stock offering this year, reports said Tuesday.

The insurer was seeking approval from Hong Kong's bourse on Tuesday with plans to set a price range next week, the Wall Street Journal and Financial Times reported, both citing unnamed sources.

If approved on Tuesday, AIA will start investor presentations on October 6, the Journal reported.

AIA is also hoping to sign an agreement next week with so-called cornerstone investors -- generally institutional buyers -- who could pick up as much as one-fifth of the offering, the Financial Times said.

AIG, which owes billions of dollars in US government bailouts, was forced to look again at the option of publicly floating AIA in Hong Kong after the collapse in June of Prudential's 35.5-billion US dollar takeover bid.

Chinese insurance companies and some of China's largest banks are said to be looking at both taking stakes and financing others, according to the Financial Times.

In July, Hong Kong's South China Morning Post newspaper reported that at least four consortia made up of private Chinese investors had approached AIG about buying its Asian business.

Sovereign wealth funds had also expressed an interest in AIA, including Singapore's GIC and Temasek, as well as funds in Abu Dhabi, Kuwait and Qatar, the Financial Times said.

Agricultural Bank of China claimed the world's biggest IPO in August when confirming it had raised 22.1 billion US dollars, after its shares debuted in Hong Kong in July.

The monster sale beat the previous world record set by the Industrial and Commercial Bank of China, which raised 21.9 billion dollars in 2006.

Tuesday, September 21, 2010

CPF to Extend 4 Per cent Interest

For the second time, Singapore’s government will extend the 4 per

cent floor rate for interest earned on all Special, Medisave and

Retirement Account (SMRA) monies for another year until 31

December 2011, the Central Provident Fund (CPF) Board

announced Monday. Thereafter, interest rates on all CPF account

monies will be subject to a minimum rate of 2.5 per cent per


Explaining the move, Mr Gan Kim Yong, Minister for Manpower,

said: “Despite our strong economic recovery, interest rates have

remained low this year. The sharp drop in interest rates at the

expiry of the 4 per cent floor rate may impact CPF members who

may not have benefited fully from the economic recovery yet.

Therefore, the Government has decided to extend the 4 per cent

floor rate on SMRA monies for another year.”

Since 1 January 2008, savings in the SMRA have been invested in

Special Government Securities (SSGS), which earn an interest

rate pegged to the 12-month average yield of 10-year Singapore

Government Securities (10YSGS) plus 1 per cent. This is a

market-based rate for instruments of comparable risk and duration,

and will ensure that members receive fair and reasonable interest

rates, according to the CPF Board.

However, to help members cope with the transition, the government

had committed to providing a 4 per cent floor rate for SMRA

interest for two years up to December 2009. This was extended to

December 2010, in light of the global economic conditions and

exceptionally low interest rate environment a year ago.

Sunday, September 19, 2010

NTUC Income Kite Festival Singapore 2010

NTUC Income Kite Festival Singapore 2010

Date : 18 & 19 Sep 2010, 4-8pm

Details : Get high on kites right in the heart of the city and enjoy free kites*, workshops, goodie bags* and performances!

Venue : The Promontory @ Marina Bay

Saturday, September 18, 2010

Wednesday, September 15, 2010

Asia Set for More Insurance IPOs After AIA

Asian bourses are bracing for more insurance IPOs over the

next year, after AIA Group Ltd's expected record offer next

month, with regulatory changes and higher capital requirements

forcing companies to tap stock markets.

Asia will account for up to 40 per cent of the global life insurance

market's growth over the next five years, according to a

McKinsey study last year. China and India will represent about

70 per cent of that growth, the study says.

Even for mature markets such as Singapore, analysts expect

an 11 per cent annual growth rate in life insurance premiums,

while bigger markets such as India and China are likely to

grow at about 15 per cent annum.

"This is going to be the age of IPOs. There is more to come in

Korea, China and India as well," one banker said.

Korea's Kyobo Life Insurance Co and Mirae Asset Life, India's

ICICI-Prudential and Reliance Capital's insurance unit as well

as Dutch bancassurer ING's Asian life insurance business are

among the sector IPOs waiting in the wings, bankers say.

That apart, China's Taikang Life and China Reinsurance

Group plan to list on the Shanghai stock exchange, which

bankers say have an estimated value of about US$7 billion.

"People are keen to invest in the life insurance sector as they

get comfort from the fact that this is a regulated sector. Fundamentally,

it's play on the growth of middle class and spending

power," said another banker.

IPOs in India, the world's 10th biggest insurance market, will

be sparked by the proposed increase in foreign investment

limits to 49 per cent from 26 per cent.

Asian insurance IPOs have already raised about US$16 billion

this year and AIA Group's US$15 billion float is set to make

2010 a record year for insurance IPOs in Asia.

AIA -- the Asian life insurance arm of American International

Group Inc -- is expected to list in October, in what is likely to be

Hong Kong's stock exchange's biggest-ever IPO.

Source: Reuters

M&A Bubbling Too

Apart from IPOs, dealmakers are also betting on a busy period

for M&A in the Asian insurance industry, which accounts for

about 30 per cent of global life insurance premiums.

Total insurance premiums in Asia rose by about 17 per cent to

US$696 billion in 2008 from a year ago, according to research

firm Celent.

One potential trigger is the recently announced Basel III regulations,

which makes it more onerous for banks to hold minority

stakes in other institutions.

"Banks holding minority stakes would have to decide whether

such investments are core or not. And you will see some M&A

activity based on that decision," said another banker.

British lender HSBC Holdings plc's 43 per cent stake in Ping

An Insurance Co of China is one such case which many bankers

point out.

Singapore lender Oversea-Chinese Banking Corp's majority

stake in insurer Great Eastern Holdings is another one, bankers


Another change set to reshape the Asian insurance landscape

is the redeployment of capital by foreign insurers, which will

result in foreign companies like New York Life Insurance

exiting certain markets to consolidate their position in others.

Tuesday, September 14, 2010

CapitaLand, CapitaMalls Asia Acquire Bedok

CapitaLand Limited and CapitaMalls Asia Limited have jointly

announced the proposed details of building a mall for the

acquired Bedok Town Centre Site.

The site, with a total Gross Floor Area (GFA) of 938,165, has

a 99-year lease term with an estimated yield of 562,899

square feet of Residential GFA and 375,266 square feet of

Commercial GFA and a maximum allowance for building 13

storeys above ground.

Located at the heart of the Bedok transportation hub, the

proposed shopping mall would have an estimated TOP

(temporary occupation permit) on 1H2014 and provide a

seamless link to Bedok’s bus interchange and MRT station.

Thursday, September 09, 2010

Australian regulator blocks NAB $12 bln bid for AXA

The Australian competition regulator has again opposed National Australia Bank's $12 billion bid for AXA Asia Pacific , dealing a blow to NAB's 9-month efforts to cement its dominance in the world's fourth-largest wealth management market.

The decision clears the deck for No.2 fund manager AMP to come back into the deal after it was trumped by NAB's offer in December last year.

But NAB could still hang on to the deal if AXA Asia's parent France's AXA gives it more time to convince the regulator by offering to sell more assets.

The ruling is also a blow to the French insurer, which is keen to shed its Australian operations and buy back its Asian businesses from the winner to concentrate on the fast-growing region.

The Australian Competition and Consumer Commission, which last month agreed to consult the market on NAB's plan to sell AXA's key assets to gain approval, said market participants had felt NAB's plan would not effectively address concerns.

The regulator had blocked the deal in April in favour of AMP's offer citing concerns over falling competition in retail investment platforms-- a portal that binds the wealth manager, financial products and customers.

Thursday, September 02, 2010

COMEX 2010


DIGITAL LIFE on 1st September 2010 (Wednesday)
THE STRAITS TIMES on 2nd September 2010 (Thursday )
TODAY Newspapers on 2nd September 2010 ( Thursday )

Tuesday, August 31, 2010

Taiwan rejects Hong Kong group's bid for AIG unit

Taiwanese authorities on Tuesday rejected a Hong Kong consortium's bid to buy ailing US insurance giant American International Group's Taiwan unit Nan Shan Life.

The application by Hong Kong-based China Strategic Holdings and Primus Financial Holdings "has failed to get the approval of the responsible authorities," the Investment Commission said in a statement.

Rejection of the bid will come as a blow to AIG, once the world's largest insurer, which has been selling assets to pay back US government loans since its rescue from collapse during the 2008 financial crisis.

The Hong Kong bidder is allowed to file an appeal within 30 days but analysts were not optimistic on the prospects for the deal.

"Even if China Strategic Holdings and Primus Financial Holdings appeal, the odds of success are slim," said Mars Hsu of Grand Cathay Securities.

Concerns that the Hong Kong consortium is short of experience to manage an insurer and its failure to provide a long-term management commitment were the main reasons that prompted the Financial Supervisory Commission -- the regulators that oversee Taiwan's insurance industry -- to block the deal.

"The decision has nothing to do with concerns that some shareholders of the consortium have Chinese capital," said Fan Liang-tung, executive secretary of the Investment Commission.

The Hong Kong consortium agreed to acquire Nan Shan Life from AIG for 2.15 billion US dollars in October last year, but the deal has been in limbo since November when China Strategic announced a plan to sell a 30 percent stake in Nan Shan to Taipei-based Chinatrust Financial Holding Co.

Rumours also surfaced late last year that Chinese capital was involved in the deal -- claims that the consortium has repeatedly denied.

Taiwan has partially lifted a decade-old ban on Chinese investment amid improving ties after President Ma Ying-jeou took office in 2008 on a China-friendly platform.

However, the government still imposes various restrictions in key sectors such as finance, flat-panel technology and telecommunications as it seeks to keep control of its economy.

Nan Shan Life was established in 1963, and now has a network of 24 branches and 450 agency offices, employing a staff of 4,000 and more than 34,000 agents.

As of September 2009, it had four million customers.

Wednesday, August 25, 2010

SGX Investor Day 2010

SGX Investor Day 2010 will be held this Saturday. It comprises an interactive exhibition and a series of talks by industry experts.

Date: 28th August 2010 (Saturday)
Time: 1200hrs to 2100 hrs
Venue: Suntec Convention Centre Level 2 Ballroom 1 and 3

Learn how:
to achieve your investment goals using SGX products
to trade beyond stocks
to identify the most suitable SGX product for capital gains or yield income

Talks from 1330hrs with seats allocated on a first-come-first-served basis.

1.30 pm – Welcome Address
Mr Magnus Böcker, CEO, Singapore Exchange

1.45 pm – Where Do We Go From Here?
Global markets and economies recently went through a dive on the back of the European sovereign debt issue. While this issue has receded somewhat, another issue has surfaced. And this is the fear of a double dip recession in the US economy. Is this a false alarm? Hear from economist Dr Tan Kee Wee who will tell you the various scenarios we all face.
Guest Speaker: Dr Tan Kee Wee, Independent Economist and Presenter of MediaCorp Radio 938LIVE’s ‘Money Talks’

2.30 pm – Beyond Volatility : Opportunities in Asia
As the fiscal positions of many European economies go under scrutiny one by one, and uncertainties cloud around the global growth trajectory, 3Q10 will likely present an inflection point. Buying opportunities will present once confidence drops to its lowest in the quarter. Cyclicals bear the brunt of earnings downgrades while Consumer sectors will be lifted by robust domestic economies, lower interest rates and oil prices. Opportunities are in Asia as focus switch to domestic demand theme in 2H10. Find out from Joanne Goh how to identify and tap on these bountiful opportunities.
Guest Speaker: Ms Joanne Goh, Regional Equity Strategist, Group Research, DBS Bank

3.15 pm – Broaden Your Investment Portfolio. Trade Beyond Stocks
To most people, SGX is a platform for trading stocks. But do you know that you can build a diversified portfolio using financial instruments listed on SGX? Find out from Elgin Ting how this can be done using ETFs, REITs and Structured Warrants.
Mr Elgin Ting, Vice President, Securities, Singapore Exchange

Monday, August 23, 2010

EUREX Builds Presence in Asia

Eurex AG, Europe’s largest derivatives exchange and the

second largest derivatives exchange in the world, is making its

way in Asia to take advantage of opportunities “in one of the

fastest growing regions in the world.”

“We’re expecting double-digit growth in Asia in the next two to

three years,” said Michael Peters, member of Eurex Executive

Board at a press briefing held Monday in Fullerton Hotel.

Currently, Asia contributes only 2-3 per cent of Eurex’s total

business mix.

The derivatives exchange, co-owned by Deutsche Borse AG and

SIX Swiss Exchange AG, said they saw encouraging signs from

the region as traded volume by its members from Asia tripled in

2009 compared with 2008. In May this year, a new monthly

record of 2.8 million contracts were traded by Asian members in

light of the Europe debt crisis.

Derivatives or futures market usually thrives on period of volatility

and uncertainty.

For 2010, Eurex is set to launch a derivatives product based on

South Korea’s KOSPI 200 Index on August 30. This will allow

investors to trade KOSPI 200 derivatives even after Korean

market has closed, and will extend to European and American

trading hours on the same day.

“Eurex and KRX expect trading volumes during after-hours to

grow approximately 2 per cent over the next three or four years,

creating a liquid and attractive trading opportunity for market

participants,” Eurex said in a statement.

Currently, KOSPI 200 option is the most liquid exchange-traded

derivatives product in the world in terms of trading volume, with

average daily volume of 13.3 million contracts as at 1Q2010.

Also in the pipeline is futures and options SENSEX index scheduled

to be launched on 4 October 2010. The product is in

partnership with India’s Bombay Stock Exchange Index. With

this, Eurex is the first exchange to list options on an Indian index

outside India.

Here in Singapore, Eurex and SGX are partnering to launch SGX

EURO STOXX 50 index futures and options on futures for the

first time in Asia. The US-dollar denominated index is expected

to be launched on the second half of 2010, subject to Monetary

Authority of Singapore approval.

Eurex and SGX will also jointly market and promote the index as

part of the collaboration efforts between the two exchanges.

Same with other index in the region, market participants will be

able to manage their European exposures during Asian trading


“We look at Singapore as a key regional hub due to its favourable

regulatory environment. It is also attractive due to its strategic

geographic location which will allow us to monitor activities in

other Asian markets as well,” said Peters.

Eurex’s Singapore office is responsible for the Middle East,

India, Australia, New Zealand and Singapore. The exchange

also has offices in Tokyo, Beijing, Taipei and Hong Kong.

Saturday, August 21, 2010


Since its inaugural investment event in August 2007, INVEST Fair has become a regular annual event for investors and traders alike. The event has gone from strength to strength in numbers: INVEST Fair’09, which featured more than 40 exhibition booths set up by both financial institutions and listed companies, attracted a record-breaking figure of 25,000 visitors. The annual event has also featured high quality interactive investment seminars on a broad spectrum of investment-related topics delivered by industry experts. 2009 was the first time ShareInvestor co-organised the event with The Business Times, a strategic collaboration which underscored both parties’ desire to enhance investor education.

ShareInvestor and The Business Times will jointly organize INVEST Fair 2010, which will be held on 21-22 August 2010 at Marina Bay Sands Convention Centre, Basement 2, Hall E. Positioned as a Meetings, Incentives, Conventions and Exhibitions (MICE) destination unlike any other in the region, Marina Bay Sand will certainly attract a significant group of visitors from the financial industry in this region. Besides a change in the venue, the fourth edition of INVEST Fair will also showcase exhibitors & public listed companies from the regional countries. Backed by the successes of the annual event over the past three years, INVEST Fair 2010 is ready to reach out to a larger and regional group of exhibitors and participants.

Friday, August 20, 2010

Get Up Close with CNBLUE

Get up close with CNBLUE (20 August Friday, 8pm City Square Mall, Level 1 Atrium)

Friday, August 06, 2010

US insurer AIG reports $2.65 bln quarterly loss

Ailing US insurance giant AIG swung Friday to a 2.65-billion-dollar loss in the second quarter from a year-ago profit, hurt by massive costs to be incurred in the sale of a key subsidiary.

American International Group, which was rescued by the government during the financial crisis, said the loss largely came from a 3.3-billion dollar "non-cash goodwill impairment charge" linked to the sale of Alico, AIG's second-largest foreign life-insurance business.

Excluding the charge, AIG said it made an adjusted net income of 1.3 billion dollars.

AIG president and chief executive Robert Benmosche said its "continuing insurance operating results remain solid, while the company continues to execute on its restructuring plans and prepares for separation from the US government.

"Our overall strategy remains unchanged. We remain focused on monetizing AIA and ALICO as quickly as possible in order to repay taxpayers, at values reflecting the unique strengths of these highly attractive franchises."

AIG received more than 180 billion dollars in government aid during the financial crisis as bad bets on mortgage-backed securities and other toxic assets threatened to engulf the company.

Wednesday, August 04, 2010


Further to the announcement on 22 July 2010, CapitaMall Trust Management Limited, as manager

of CapitaMall Trust (“CMT” and the manager of CMT, the “Manager”), is pleased to announce that

the actual quantum of distribution per unit in CMT (“Unit”) for the period from 1 April 2010 to 30

June 2010 is unchanged from the estimated distributable taxable income of 2.29 cents per Unit.

Thursday, July 29, 2010

CapitMalls Asia Has S$2.5B-$3B Warchest For Acquisitions

CapitaMalls Asia Ltd. (J58.SG) Chief Executive Lim Beng Chee said the property developer has a S$2.5 billion to S$3 billion war chest that it can use to acquire and build assets in Singapore, China and Malaysia, The Business Times reported Thursday.

The group has about S$1 billion in cash following the listing of its CapitaMalls Malaysia Trust (5180.KU) on the Kuala Lumpur exchange and the sale of Clarke Quay to CapitaMall Trust (C38U.SG), the report said, citing Lim at a media conference.

He also said the group is able to borrow another S$1.5 billion to S$2 billion, which would present "a very good opportunity" for acquisitions.

Saturday, July 24, 2010

One Million Star VII Singapore Audition 第七届超级星光大道海外选秀会:新加坡

Mandopop’s most acclaimed talent search programme One Million Star is back on E City (Ch 825) with its latest season! This time, the competition is extended to contestants from Singapore. The judges from One Million Star, Roger Cheng and Huang Yun Ling, will be making a special trip from Taiwan to judge at the Singapore rounds of Audition on Sunday 25 July. Only 500 candidates will be auditioned. So hurry now and you may be the next regional singing sensation!

华语乐坛最受好评的寻星节目《超级星光大道》的最新系列将通过都会台(Ch 825)隆重登场!第七届的《星光》将网罗新加坡的参赛者,在台湾飚歌,争夺冠军荣衔!想成为明日之星?那就赶紧报名试镜。《星光》评审Roger老師与黄韵玲将从台湾特意飞来新加坡,进行选秀。试镜名额只限500位!

Audition Details

Date: Sunday 25 July, 2010
Venue: City Square Mall,
B1 Fountain Square
Registration begins 11am

Wednesday, July 21, 2010

AIA Wants to Split from US Parent

American International Assurance (AIA), the Asian unit of US insurance giant AIG, is trawling for investors so it can split from its troubled parent as soon as possible, a report said Tuesday. Mark Tucker, the former head of British insurer Prudential who was named Monday as AIA's new chief executive, has sought assurances that AIA can "pursue independence immediately," the Financial Times reported, citing unnamed sources. Reports have said AIA plans to list more than half its equity in Hong Kong by October or November with the goal of raising as much as US$23 billion (about S$31.7 billion). Tucker -- who replaces AIA's current chief executive Mark Wilson -- was in talks with regulators and potential investors from Singapore, Hong Kong and mainland China, the paper said. Singapore's sovereign wealth fund Temasek has long coveted the Asian insurer, while Tucker has "good links" with Chinese insurance giant Ping An, the paper said. An independent AIA could be valued at more than US$34 billion and would be the only listed pan-Asian insurer. At least four consortia made up of private Chinese investors have approached AIG about acquiring AIA, Hong Kong's South China Morning Post reported last week. Tucker's hiring follows the collapse last month of Prudential's US$35.5 billion-takeover bid for AIA, which Wilson had opposed. The failure of the mega-deal forced AIG, which is seeking to repay billions of dollars in US government bailouts, to look again at a Hong Kong listing of AIA to raise fresh funds. AIG said it would "proceed as soon as practicable" with the listing plan. "After reviewing various options to monetize AIA's substantial value, we have concluded that an IPO is our best option," AIG chief executive Robert Benmosche said in a statement Monday.

Sunday, July 18, 2010

Monday, July 12, 2010


I woke up at 2.30am singapore time to watch the LIVE match. The fight is entertaining not in the number of goals scored but the number of FREE yellow cards given out by the referee. The dutch seems more aggressive as ALMOST all their players got booked compared to the spanish side. The drama sure makes the closing of WORLD CUP 2010 an unforgetable event for me !

Sunday, July 11, 2010

Y.E.S. 93.3 FM 亚洲街舞大赛2010 新加坡站 Y.E.S. 93.3 FM Asia Street Dance Competition 2010

广邀所有爱好街舞(Street Dance)的朋友/街舞达人组队来参加一场别开生面,首度在新加坡拉开帷幕的【亚洲街舞大赛-新加坡站】!在本地成功过关斩将的2支优胜队伍,将能代表新加坡出战台北8月的终极大决赛,机票住宿完全免费!你只需'付出'坚强的实力!

Y.E.S. 93.3 FM 亚洲街舞大赛2010 新加坡站 - 初选



Orchard Central

主持:志勇, 嘉蕙

Time to show your talent at the upcoming street dance competition and compete with the best in Taiwan! Taiwan's most influential hip-hop competition - "Metro Cup Street Dance Competition" is now into its sixth year. The competition now expands to the Asia region and invites participants from overseas area. The winner from the Singapore stop will be invited to the 『Taipei MRT Cup 2010 finals in Asia 』street dance on 21st August.

Y.E.S. 93.3 FM Asia Street Dance Competition 2010

Sun, 11 Jul


Orchard Central

Hosts : Cruz Teng, Jiahui

Saturday, July 10, 2010


Catch Show Luo at *SCAPE for the grand opening of Stage Singapore!

Sat 10 July, 1pm

Wednesday, July 07, 2010



This counter has reached a new high .
Yesterday closing price is $1.17 .
Counter moved up $0.07 today .
Based on technical analysis , breakout has occurred ?

Sunday, July 04, 2010

Peng Yu Yan Eddie's Inevitable Love Performance & Autograph Session

4 July 2010, JP1 Centrestage, 4pm

Don't miss the chance to catch Taiwanese heartthrob, Peng Yu Yan Eddie in person as he performs songs from his debut EP, Inevitable Love. Plus, get up-close and personal with him during the autograph session!

Saturday, July 03, 2010

Quan Yifeng grilled by police for six hours

Under-fire television host Quan Yifeng has been interviewed by police for six hours, following a much-publicised run-in with a taxi-driver.
The 36-year-old arrived at Bedok Police Division headquarters on Friday at close to 4pm on Friday and only emerged six hours later at 10pm.
The Straits Times reports that she told reporters outside the police station in Mandarin, “Thank you for being here, thank you for your concern. You have been working very hard, and I apologise for making you wait.”
When asked, the tired-looking star declined to say why she took so long to give her statement and left in a grey Mercedes.
Yifeng, who has hired top criminal lawyer Subhas Anandan to represent her, is involved in a huge dispute with a Comfort Delgro taxi driver named Mr Chan, who has accused her of thrashing his taxi when he refused to help her load her luggage into the boot.
In addition, the 52-year-old cabbie claims she hit him, locked him in the taxi, ripped out the fare meter in his cab and even poured water on his belongings before leaving in another cab.
She, meanwhile, says that Mr Chan had swung the taxi’s door on her, hitting her on the back and leg.
ComfortDelGro is backing the taxi driver involved in the incident. The company has described Yifeng’s incident as an “act of aggression”.
The case has put Yifeng front and centre in the media spotlight for the past week. Close to 3,000 Yahoo! Fit-to-Post users have given their thoughts on the case.
While the majority believe Yifeng is to blame, some also sympathised with her and called for police to conclude their investigations.
User Pretty One said, “All of us are 2-sided coins. The nice side and the ‘Incredible Hulk’ side. The TV showing (sic) the nice side of Yifeng and the cab-driver saw the Incredible Hulk side of her. It could be a misunderstanding between the two of them. Let the police settle it.”
Some users have also compared the case to a battle between the rich and the poor.
Poor commented, “This is a fight about the rich and the poor. Yifeng managed to get the No. 1 top criminal laywer in singapore… It is time to see if Comfort-Delgro will protect interest of the poor taxi drivers.”
Another user Lee added, “I have no reason to believe that the taxi driver would do all the damages to his taxi… and if she really kicked that poor old taxi man and messed up his taxi, then what a wild and uncivilised woman she is! And doing that in front of her daughter!”
Yifeng, a popular Taiwan-born TV host, is well-known for her quick temper and sharp tongue. In 1996, the star, who split from her ex-actor husband Peter Yu two years ago, was involved in a fight with a bowling alley attendant and was fined S$1,000.
According to a Lianhe Wanbao report, the recent incident began when Mr Chan failed to help the host with her luggage. Quan reportedly flew into a rage and demanded, “What sort of service attitude is this?”.
The driver claims that he did not help the star because he was recovering from an elbow injury.
Driving away from Hua Xin Court Condominium where he picked Yifeng, her 11-year-old daughter and a male friend up, he asked for directions to the airport, to which Quan allegedly snapped, “Are you from Malaysia? Don’t you know the way to the airport?”
Tensions reportedly reached boiling point when the driver braked hard at a junction and the star was thrown forward. The cabby said that Quan accused him of doing it on purpose and swore at him in Hokkien. She then insulted his mother and proceeded to shove and hit him, he told the paper.
With his word against hers in this dramatic case of he-said-she-said, it’s anyone’s guess whose version of events is true.
But one thing’s for sure – the beleaguered star will be steering clear of taxis for quite awhile.

Friday, July 02, 2010

CapitaLand eyes major boost in Vietnam property business

Southeast Asia's largest property developer, Singapore-based CapitaLand, says it plans to increase its assets in Vietnam tenfold and is building thousands of new homes.
"Vietnam has been earmarked as the group's most important overseas market in Asia, after China," the company said in a statement.
The firm will invest 299 million Singapore dollars (211 million US), and is looking to hold ten percent of its assets in the country within the next three to five years, said Chen Lian Pang, chief executive officer of CapitaLand Vietnam Holdings.
"The real estate market is supported by the country's strong economic growth, rapid urbanisation, and a young and growing population," said CapitaLand, which is building more than 4,000 residential units in Vietnam.
It says it is the largest owner-operator of international serviced residences in the country, with five under the Somerset brand and three others being developed under contracts.
Communist Vietnam has a population of almost 90 million people.
The economy grew by 5.32 percent last year despite the global economic and financial crisis.
Prime Minister Nguyen Tan Dung told global business leaders on Sunday that the economy is expected to expand 6.5 to seven percent this year, against a government target of 6.5 percent.
Singaporean firms are among the major investors in Vietnam.

Tuesday, June 29, 2010


MR TAN, a 52-year-old taxi driver, has accused MediaCorp artiste Quan Yifeng of wrecking his taxi and even kicking him in the groin.

But Quan Yifeng has come back with allegations of her own that he slammed his car door on her, and swore at her.

On Saturday, Lianhe Wanbao reported that a member of the public witnessed the taxi driver arguing with Quan Yifeng, who was accompanied by her daughter an unidentified man who looked to be in his 30s, around East Coast.

The taxi driver told Lianhe Wanbao that he picked up a male passenger on Saturday at 8.45am, who then asked him to go to Hua Xin Condominium to pick up more passengers, then head to Changi airport.

The two other passengers turned out to be Quan Yifeng and her 11-year-old daughter, who were heading to Mauritius where Yifeng was filming.

When he refused to help her with her luggage, the 36-year-old artiste lost her temper and continued to make things difficult for him as they drove towards the airport, including swearing at him in hokkien, shoving and hitting him.

After alighting, he said that she kicked his groin and a car door, then locked herself in the taxi for 15 minutes to thrash it.

The police has classified the case as theft because she left in another cab with his car keys, according to Lianhe Wanbao.

In a call from Mauritius, the MediaCorp artiste told Wanbao that she did not take his keys, nor thrash his taxi. She also said she was the one who called the police after their altercation, but had to leave to catch her flight.

She said she shoved him and kicked his car door because he blocked her as she was trying to get her luggage.

Quan Yifeng is now seeking legal advice, Wanbao reported.

Tuesday, June 15, 2010



Saturday, June 12, 2010

CapitaMalls Asia gets approval to list assets on Bursa Malaysia

SINGAPORE : CapitaMalls Asia (CMA) says it has received approval from the Securities Commission of Malaysia to list its assets across the Causeway.

It says CapitaMalls Malaysia Trust (CMMT) will hold its Malaysia shopping malls and be listed on the main market of Bursa Malaysia.

Some 1.35 billion CMMT units will be listed.

A total of some 786.5 million units will be offered for sale, with CMA retaining a 41.74 per cent in CMMT.

If an over-allotment option of up to 15 per cent of the proposed offering totaling some 117.9 million units is exercised, CMA will retain a stake of 33 per cent in CMMT.

CMA did not reveal the pricing of the shares.

But the Employees Provident Fund Board of Malaysia and Great Eastern Life Assurance Malaysia have signed up as cornerstone investors for the proposed offering.

They will buy 90 million shares, which is 11.4 per cent of the units being offered to investors in Malaysia and overseas.

The cornerstone investors have agreed to pay 1.1 ringgit per unit or the institutional price, whichever is lower.

CMMT will invest in a portfolio of income-producing real estate primarily used for retail purposes and located primarily in Malaysia for the long-term.

Its initial portfolio comprises three shopping malls - Gurney Plaza in Penang, an interest in Sungei Wang Plaza in Kuala Lumpur, and The Mines in Selangor.

The portfolio has a total net allowable area of some 1.88 million square feet.

CMA believes that if listed, CMMT will be Malaysia's largest listed "pure-play" shopping mall REIT by market capitalisation and property value.

CMMT will not be available to retail investors in Singapore.

CMA adds that its decision on whether to proceed with the proposed listing depends on factors, including prevailing market conditions.

Wednesday, June 09, 2010



Laptops and netbooks rank high on wish lists for The PC Show 2010

71% of respondents predict PC Show 2010 will see an excellent response

Singapore, 1 June 2010 – Singaporeans say that the top three consumer electronic gadgets that have changed their lives the most in the past 20 years are the laptop, mobile phones and smart phones, according to a survey conducted by The PC Show 2010. In celebration of its 20 th year in Singapore, Lines Exposition and management Services, the organisers of the PC Show commissioned a dipstick survey to see how Singaporeans’ love for consumer electronics has evolved over the years. Congruent with these findings, these gadgets were amongst the favourite purchase lists for this year too, with 22% consumers revealing that they hoped to bag a laptop or netbook, and 23% saying they hope to get a new mobile or smart phone at this year’s PC Show. With the event celebrating its 20 th year anniversary, an overwhelming majority (71%) of respondents are predicting the show will be an excellent one this year.

Ms Gillian Loh, project manager of show organiser, Lines Exposition and Management Services, said, “For the past twenty years, The PC Show has been growing with Singapore as a nation, responding to consumers’ demands for the latest electronic gadgets. Our lives are so integrated with technology that we’ve have even got digital photo frames and electronic books now. Our gadgets have changed our lifestyles so much that most people probably cannot imagine living 20 years ago without their laptop or mobile phone. The PC Show is a great place for consumers to grab hold of the latest gadgets at value for money prices and I hope people will come down and take advantage of the promotions.”

The Most Coveted IT Purchase of the Year

21% of consumers polled plan to purchase a laptop for their next gadget fix, with an equal number wishing to snag a mobile or smart phone.

The 34% consumers who shared that the smart phone was gadget that impacted their lives the most in the last 20 years will be happy to see the Garmin-Asus M10 at the show. The first smart phone to come with Windows® Mobile 6.5.3, it is a full-touch all-in-one smart phone featuring preloaded mobile navigation. Others exhibitors worth checking out include Samsung, and Acer amongst others.

Gadgets that have Grown with Consumers Habits

Besides the latest finds, the PC Show is also home to gadgets that have grown with consumer habits throughout their lives. The super slim and lightweight Greenbook ebook reader would be an attractive product for 6% of consumers who love to read on the go. People who enjoy games can look forward to old favourites from the Razer Gaming Mice collection as well as new products like the SMC CyWee, a revolutionary 3D motion-sensor controller that acts as both a gaming device and 3D mouse. Photo enthusiasts will also find great bargains for digital photo frames.

The PC Show 2010

Occupying halls on Levels 1, 3, 4 and 6 at Suntec Singapore, the PC Show will house four individual sections – The PC Show ’10, Digital Imaging ’10, Game ’10 and Consumer Electronics ’10 – over the span of four days from 10 to 13 June. The exhibition will be open daily from 12 noon to 9 pm. Admission is free.

There are more than 600 exhibitors this year where leading exhibitors include Acer, Apple, ASUS, Casio, Canon, Compaq, Dell, HP, Fujitsu, Lenovo, LG, Samsung, Sony and Toshiba among others.

Saturday, June 05, 2010

Asian Investment Conference and Exhibition 2010

The Asian Investment Conference and Exhibition 2010 (AICE) is organised by Securities Investors Association Singapore (SIAS) and will be held at Hall 601, Suntec International Convention & Exhibition Centre this weekend from 5th to 6th June 2010.

Registration is free and the exhibitors include:

• Public Listed Companies
– SIAS Investors’ Choice Awards Winners
– Good investment prospect listed companies shortlist by SIAS Research Pte Ltd and approved by SGX
– Yield Instruments (Reits and Business Trust)

• Financial Service Providers
– Banks
– Brokerage Houses
– Financial Planners
– Insurance Companies

• Exchange-Traded Funds (ETFs)

• Structured Warrants

• Property Developers

• Asset and Fund Management Companies

• Alternative Investments

• Publications and Education

Friday, June 04, 2010

Italy's Generali shows interest in AIA

ROME (AFP) - – Italian insurer Generali could be interested in "pieces" of AIG's Asian unit AIA after British insurer Prudential abandoned its ambitious takeover plan, daily Corriere della Sera reported on Thursday. "It is entirely premature to be talking about it," a spokesperson for the company told AFP. The newspaper, citing what it described as circles close to Generali, reported that Generali would be interested in purchasing AIA assets on the condition that American International Group cut the price and decide not to list the company. Last year, Generali had already tried to buy AIA's assets in the Philippines. Generali already has several subsidiaries in China. At the Milan stock exchange, Generali was gaining 2.1 percent as the market grew by 2.64 percent at around 0930 GMT. On Wednesday, Prudential ended its bid to become the world's top insurance firm outside China, after the troubled US group refused to cut the price tag from 35.5 billion dollars (29 billion euros) to nearer 30 billion dollars. The mammoth transaction would have been the biggest-ever takeover in the insurance sector. AIG, which was saved from bankruptcy by the US government in September 2008, announced last month it was selling AIA to Prudential and another unit, ALICO, to US rival MetLife to pay back a huge chunk of its government bailout.

Thursday, June 03, 2010

Sign Up For Last Tranche of GST Credits

The Government will be giving out the last tranche of GST credits on 1st July 2010 for all eligible Singaporeans who have already signed up or who sign up by 18 June 2010. Singaporeans can receive between $100 to $250 in GST Credits for 2010 if their Annual Assessable Income for Year of Assessment 2009 is not more than $100,000.

Singaporeans who have yet to sign up for their GST Credits have until 31st Dec 2010 to do so. Those who do not sign up by 31st December 2010 will not be eligible for the last tranche of the GST Credits.

Singaporeans who have already signed up need not do so again. Those who have not can do so through the internet, at If you have not sure whether you have signed up, you can also visit the website to check your sign up status.

Wednesday, June 02, 2010

Prudential fails in bid to buy Asian insurer AIA

LONDON (AFP) - – British insurer Prudential's attempt to buy the Asian unit of US group AIG has ended in failure, the BBC reported on Tuesday.

The deal collapsed after Prudential failed to negotiate a lower price for AIA, the BBC said.

Prudential had asked AIG (American International Group) to cut its asking price of 35.5 billion dollars (29 billion euros) to nearer 30 billion dollars, following a revolt by the British company's shareholders.

But AIG said that "after careful consideration, the company will adhere to the original terms of its previously announced agreement."

"The company will not consider revisions to those terms," it added.

If the collapse of the deal is confirmed, it would pile fresh pressure on Prudential's chief executive Tidjane Thiam, who wants to transform the 162-year-old British company into an international insurance powerhouse.

The takeover would have been the biggest ever in the insurance sector, transforming Prudential into the world's top non-Chinese insurer by market capitalisation, ahead of major competitors Allianz and AXA.