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Showing posts from October, 2010

Something For The Weekend

Rich Girlfriends and AIA Asia IPO

AIA, the Asian life insurance arm of AIG, raised $17.9 billion by pricing its IPO at the top of its range. The pricing of the IPO, likely the world's third biggest, comes as new listings proliferate in Asia. The AIA IPO is expected to generate up to $355 million in fees for banks involved in the sale.

That's not the big news, not even Kuwait's $1bn investment in the IPO. There were some juicier news about some of the other IPO bidders.

The Standard / Mandy Lo

Thursday, October 28, 2010


Two girlfriends of tycoon Joseph Lau Luen-hung each plonked down a whopping HK$5.6 billion to grab a massive share of insurer AIA Group's retail tranche.The big-ticket subscriptions by the girlfriends of Chinese Estates (0127) chairman Lau account for more than 50 percent of AIA's retail tranche, sources told The Standard. And their personal bids to grab such a huge portion of the public offering could well be a world record. The women - Yvonne Lui Lai-Kwan and Chan Ho-wan - have emerged…

Mama, Don't Let Your Sons Grow Up To Be Scrabble Players

From Wall Street Journal:

Forum For Technical Chartists

Just doing my friends a favour here, if you are technically inclined, if you have lost hope on reading/predicting the markets via fundamentals ... this may be for you.
Day 1- ScheduleHere is the proposed schedule for Day 1, Saturday, Oct 30, 2010Please come early to register and pay at the door. We expect a large crowd on that day.A 2-DAY EVENT FOCUSES ON KLSE STOCKS, FKLI FUTURES & COMMODITIES AND U.S MARKETS.

Day 2- ScheduleHere is the proposed schedule for Day 2, Sunday, Oct 30, 2010:A 2-DAY EVENT FOCUSES ON KLSE STOCKS, FKLI FUTURES & COMMODITIES AND U.S MARKETS.

There are 3 types of ticket fee available:1) Special Invitation Fee (For TTR Subscribers, Book Buyer, Invitees, TG Users): RM 288 per paxEarly Bird Special Discount Cash (Bank-in before Oct 26, 2010) : RM 288 per pax2) Public, general audience and walk-in fee : RM 358 per pax3) Master the Markets Main Course Graduates Only : RM 188 per pax (Those graduates who attended Main Course Workshop conducted by Bill & M…

Kuan yew's Oktoberfest With Spiegel

SPIEGEL's Interview with Lee Kuan Yew"It's Stupid to be Afraid"Singapore's first-ever prime minister, long-time government head and current political mentor Lee Kuan Yew talks about Asia's rise to economic power, China's ambitions and the West's chances of staying competitive.

SPIEGEL : The political and economic center of gravity is moving from the West towards the East. Is Asia becoming the dominant political and economic force in this century?

Mr. Lee: I wouldn't say it's the dominant force. What is gradually happening is the restoration of the world balance to what it was in the early 19th century or late18th century when China and India together were responsible for more than 40 percent of world GDP. With those two countries becoming part of the globalizedTrading world, they are going to go back to approximately the level of world GDP that they previously occupied. But that doesn't make them the superpowers of the world.

S…

The Miele Guide, Asia's Best Restaurants

Following is a list of Asia's top 10 restaurants, according toThe Miele Guide: 1. Iggy's, Singapore2. L'Atelier de Joel Robuchon, Hong Kong, China3. Robuchon a Galera, Macau, China4. Jaan, Singapore5. Antonio's, Cavite, Philippines6. Mozaic, Bali, Indonesia7. Zuma, Hong Kong, China8. Cilantro Restaurant & Wine bar, Kuala Lumpur, Malaysia9. L'Atelier de Joel Robuchon, Tokyo, Japan10. Caprice, Hong Kong, ChinaSingapore restaurant Iggy's reclaimed its crown as the top dining spot in Asia in the third annual edition of a regional dining guide which saw a Malaysian restaurant make the top 10 for the first time.Iggy's run by restaurateur Ignatius Chan topped the list of Asia's 20 best restaurants in the 2010/2011 Miele Guide, knocking last year's top choice, L'Atelier de Joel Robuchon in Hong Kong, into second place. Iggy's topped the inaugural list in 2008/2009.Celebrity chef Robuchon saw his three Michelin-starred Robuchon a Gal…

Moving China Up To The Next Level

By ANDY XIEWhen China's GDP surpassed Japan's in the second quarter of 2010, the international media gave this milestone considerable coverage. But with natural disasters, environmental problems and the property bubble to cover, the domestic media hasn't given it as much attention.



Perhaps it is because China has over ten times as many people as Japan which puts China's per capita income at less than one tenth of Japan's - hardly something to celebrate. Nevertheless, it is useful to look back at how far China has come, study the risks it faces in the future, and, if the country can overcome the existing challenges, explore how much further it can go in the next decade.

China's economy took off in 2002 and since then nominal GDP has grown at 18.5%, and exports in dollars at 21.7% (I have extrapolated the economic performance for the remaining months of 2010). The nominal GDP has increased 2.9 times, and exports 3.8 times in USD and 2.9 times in RMB. Japan had a si…

Bull Back In The China Shop?

Looks that way. China's stock market came flying out of the gate after being closed from the end of September through October 7th. Since then Shanghai Composite is up by more than 7.75%. China had been one of the weakest performing countries for the past 6 months. The index has now entered a new bull market as well. A bull market is defined as any 20%+ gain that was preceded by a decline of at least 20%. From its low on July 5th, the Shanghai Composite is now up 21%.

Darryl Guppy: Increasing currency volatility, central-bank intervention, continued weakness in the US dollar and a crescendo of poorly informed opinion prior to mid-term US elections all add up to market moving events.

Meanwhile, China has been quietly offering support for beleaguered European nations battered by the ongoing debt crisis. This is very significant for a market that has been closed for almost two weeks because of the confluence of holidays.
The Shanghai market has been moving in a prolon…

Comments On The Budget

Much of what's there is already out there already, so nothing really new.

Oil & Gas - Uzma looked interesting on Friday, may be a big beneficiary for the small company.

Housing for first home buyers - OK, good move.

Public transportation - This will be a key mover and shaker.

PNB 100 storey tower, hmm ... sounds like over reaching here.

Finance - More prop traders, that is just institutionalizing what some heavy hitting stockists are already doing, whats new?

Khazanah and EPF getting PLUS is very good. It also paves the way to set a benchmark to acquire the other tollways. Litrak will be upgraded.

The two mega projects that could capture the most attention from investors would be the RM12bn high-speed rail project and the RM2.5bn WiMAX rollout. For leveraged exposure to WiMAX, YTL e-Solutions’ fee arrangement with YTL Power appears quite attractive. YTL Power will roll out WiMAX nationwide on 18 Nov.

It will provide free service to 400,000 university students for usage within their c…

Better Late Than Never - This Is An Exceptional Movie

I can't tell you how long this DVD has been sitting on my desk.... I was skeptical at first when I saw the cast. I thought this was an over the top highly commercialised venture tapping on top Malaysian Chinese singers. The film was released in April, so its my bad, as my circle of friends do not have a lot of Mandarin speakers, I was kind of out of the loop even though I watch a lot of Chinese movies and series.


The movie was the brainchild of Ah Niu (Tan Kheng Seong), who probably put all his wealth and resources into the movie as he wrote, acted and directed the film.

The cast was a veritable list of Malaysian singers who made it big in Taiwan, Singapore, HK and Malaysia. For a Malaysian singing in Chinese, you had to break through the Taiwan market first before even gaining acceptance in Malaysia and Singapore. Taiwanese are so open to genuine talent.

He managed to rope in the combustible Gary Chaw, the "prodigal" Eric Moo (who still insists he is Singaporean when he g…

Richest Women In The World, Half Of Them From China

Hurun Research Institute came out with its latest rich list report. Whats amazing is not the overall China rich but the standing of Chinese women in wealth accumulation. I can safely say that the bulk of rich ladies, mostly inherited their wealth from their families or got the wealth following the death of their husband. The capitalistic China is still young, hence not much wealth is passed down as there is not much wealth to pass in the first place.



This also points to the fact that there is probably "more equality" for women in the business or corporate world in China, and that should be studied more closely by these so called "gender equality champions" of the world like the US and Europe. Its not enough to just have laws that promote equality and discourages gender bias, there are still invisible glass ceilings and plenty more "attitudes and structural discrimination" in these so called developed nations.

Even so, gender bias is still a long way from be…