Tuesday, March 29, 2011

Sarin Opens Service Centre in Russia

Mainboard-listed Sarin Technologies Limited, a global player in the

development, manufacturing and sale of precision technology

products for diamonds and gems, Monday announced that it has

opened its service centre in Moscow to serve the rough diamond

trade and diamond manufacturers in Russia.

The new Moscow service centre is the group’s fourth worldwide,
following those serving the Indian, Israeli and Belgian industry


Uzi Levami, Chief Executive Officer of Sarin, said: “We expect the

opening of the service centre in Russia to be followed shortly by

additional new service centres (that will) open in southern Africa to

address demand there.”

Wednesday, March 23, 2011

Heavenly King Andy Lau coming back to Singapore!

OSIM uDivine & Andy Lau

Press Conference

Date: 26 March 2011

Time: 2.30pm – 4.00pm

Venue: VivoCity Central Court B

Tuesday, March 22, 2011

Australia’s Treasurer Dismisses Reports on Possible Veto of ASX-SGX Merger

Australia’s Treasurer Wayne Swan on Monday dismissed reports that

the proposed A$8.4-billion (about S$10.6 billion) merger between the

Australian Securities Exchange (ASX) and Singapore Exchange (SGX)

is likely to be rejected.

In October last year, ASX and SGX announced plans to create one of

the world’s largest listed exchange groups with a broad international

shareholder base.
However, the proposal has faced political obstacles in Australia

due to concerns over issues such as the extent of foreign ownership.

The Australian Financial Review cited government sources on

Monday predicting the deal would not pass through parliament

after the proposal was submitted to Australia’s Foreign Investment

Review Board (FIRB) on March 11.

However, Swan dismissed such reports, telling ABC Radio he

had “no idea” where they came from.

He was quoted as saying that his decision would be based on

the FIRB’s recommendation, a thorough consideration of all

issues concerned, and national interest.

A key issue is whether to lift the 15-per cent cap on foreign

ownership for ASX.

In a bid to overcome the political obstacles, the exchanges

adjusted their merger proposal last month, promising an equal

number of directors from each country on the proposed ASXSGX


Additionally, both sides pledged that all physical assets required

for the operation of ASX’s businesses would continue to be

developed and located in Australia. They also agreed to develop

new products.

Friday, March 18, 2011

Japan’s Earthquake May Raise Insurance Premiums for Singaporeans

Japan’s recent earthquake might result in higher insurance premiums

for Singaporeans.

According to the General Insurance Association of Singapore (GIA),

the disaster is expected to seriously impact many global insurers,

leading to an increase in the cost of insurance protection for consumers.

In particular, motor insurance premiums in Singapore are expected to

continue increasing this year as insurers seek to recoup underwriting

losses, GIA said.

The motor insurance segment’s underwriting losses widened to

S$48.9 million last year from S$44.5 million in 2009. This was partly

attributed to the impact of major local flooding incidents.

GIA said that the major floods last year resulted in 428 motor insurance

claims totalling S$11.6 million.

The number of reported accidents involving motor vehicles in Singapore

also remained high at about 162,500 last year.

Saturday, March 12, 2011

SGX Lodges Application with Australia’s FIRB for Proposed ASX Merger

The Singapore Exchange (SGX) on Friday lodged a formal application

with Australia’s Foreign Investment Review Board (FIRB) for its

proposed merger with the Australian Securities Exchange (ASX).
This move came after both exchanges announced on February

15 amendments to the proposed merger implementation agreement

that also included new governance arrangements.

Under the revamped merger proposal, both sides pledged to

have an equal number of directors from each country on the

board of the merged entity in a bid to overcome political obstacles

in Australia.

While the FIRB has 30 days to decide on the merger, the deadline

may be extended if necessary.

Should the FIRB give its nod, the merger proposal will then go to

the Australian Treasurer, Wayne Swan, for final approval.

Swan will have to decide whether to lift the 15-per cent cap on

foreign ownership for ASX.

SGX said it will make announcements and update shareholders

as approval processes are cleared.

Tuesday, March 08, 2011


Today is international women's day !

In chinese "SAN BA" means a bitch !

Recently , cleavage is being linked to a woman's career line !

The deeper the cleavage a woman has , the better the career for her !

So for a man to have a great career , what must he have ?

Can we also have a international men's day ?

Wednesday, March 02, 2011

SGX Securities and Derivatives Trading Improves in February

Singapore Exchange (SGX) on Wednesday said its securities and

derivatives trading grew strongly in February from a year earlier, as

funds continue to pour in Singapore and the region.

The securities market was healthy with total market turnover of

S$31.5 billion, up 32 per cent year on year. This translates into daily

average value of S$1.7 billion for February.

Trading of exchange traded funds (ETFs) also recorded strong

growth as it tripled to S$628 million in February from a year earlier.

Five Asian sectoral ETFs were added last month, offering customers

the region's most comprehensive suite of sectoral ETFs. This brings

to 80 the total number of ETFs on SGX.

Meanwhile, overall derivatives trading volume rose 39 per cent year-
on-year to 5.2 million contracts in February. The average daily volume

was 300,493 contracts.

Nifty index futures volume grew 55 per cent year-on-year to 1.1

million contracts while FTSE A50 futures activity continued to

increase with volume of 221,729 contracts in February.

The OTC (over-the-counter) financial derivatives clearing business,

which began in November, showed good traction with a notional

US$24.2 billion of interest rate swaps cleared from the launch to

end-February. For last month alone, a notional US$10.2 billion of

swaps were cleared.

New data in the February monthly statistics report include data on

securities on loan under the CDP (The Central Depository) Securities

Borrowing and Lending programme and trading statistics for LMESGX

metal futures.

Tuesday, March 01, 2011

SGX Completes Disposal of New Industrial Road Property

Singapore Exchange Limited (SGX) announced that the sale of its

building at 18 New Industrial Road was completed on Monday at an

aggregate value of S$23.6 million.

SGX said the book value of the asset on disposal is S$21.7 million
and the latest available open market value of the asset as at 15

October 2010 is S$22 million.

After accounting for related costs, SGX said that it will make a gain

from the sale of approximately S$1.7 million.