Joel Chan and Florinda Ho have proven that true love is beyond money, age and all other aspects. Dating for only two years, the couple has already accepted each other as their life partners.

Hong Kong media reported that the TVB actor has successfully proposed to the socialite during a holiday to Portugal in August last year. "They held an engagement ceremony in Perth, Australia on 14th January," Face magazine wrote.

An informer said the couple had kept their engagement private, as they didn't want unnecessary attention. The male version of a Cinderella story has been kept in the limelight since the couple admitted to their courtship in 2011, following the divorce of Joel and his ex-wife.

"They are planning to get married by October, if not, will be in January next year," the informer said, adding Florinda's father–casino tycoon Stanley Ho–has gifted a mansion worth HK$430 mil (S$68.3 million) to the girl as part of her dowry.

Florinda, 24, is among three siblings of Stanley and his third wife Ina Chan. She has denied news of her engagement to Joel, 37.

The 'Ho's, who didn't approve of the Joel–Florinda relationship, have changed their mind as they found that the pair is a perfect match despite the differences in their background and age.

Joel was also invited to the Ho family gathering several times including the recent event last month to celebrate the billionaire's 91st birthday.

I would like to seek forummers view on this issue. If the ruling party is topple in this upcoming(within the next couple of mths now) elections what do you all think are the ramifications on singapore ie stock prices, currency impact etc. There is a ground swell going on right now and there is a slim chance that they may be topple. Even if they are not topple it will be a lame duck govt with severely weaken power. I expect the RM to weaken and pull the S$ down as the RM forms a big portion of the S$ basket of currencies.

Toh Han Shih and Joanna Chiu :Saturday, 19 January, 2013, 12:00am

Rivals Hong Kong and Singapore have much in common - not least their wealth. So why are so many in both cities so unremittingly miserable?

Hong Kong and Singapore are rivals on many fronts. The two former British colonies compete for everything from tourist dollars to stockmarket listings and the right to host the regional headquarters of international corporations.

Politically, many Hongkongers deride Singaporeans for their weak political freedoms, while some in Singapore argue that Hongkongers' love of protesting goes too far.

But the two sides are locked in a new battle - perhaps a surprising twist in this ago-old contest - and it indicates that the two have rather more in common than they would care to admit.

Despite their wealth - Singapore and Hong Kong rank third and seventh on per capita GDP according to the World Bank - the two cities are among the least happy territories in the world, according to a Gallup poll released last month.

Singapore is way ahead in the race to be Asia's most miserable place, ranking rock bottom in the poll of 148 nations and territories, with just 46 per cent of those polled expressing positive feelings. Hong Kong came in 73rd, with 69 per cent of respondents expressing "happiness".

Panama and Paraguay topped the poll, with 85 per cent of the respondents reporting positive emotions. China, the United States, Chile, Sweden and Switzerland tied at 33rd place, despite the wide wealth disparity in these countries.

Happiness, after all, is a subjective sense of well-being; different cultures have different interpretations of it.

"The Gallup poll tries to standardise happiness between different places. Therefore, the poll uses positive emotions as a reference," Tso Kwok-chu, a psychiatrist who runs a clinic in Hong Kong, explained.

According to the World Bank, Singapore had a per capita GDP of US$60,688 as of December 30, 2012, while Hong Kong trailed at US$50,551. Of the two happiest countries in the poll, Panama's GDP per person was US$15,589 and Paraguay's was US$5,501 - about one-tenth of Hong Kong's.

"Singaporeans, while absolutely well off, are relatively unhappy. The survey is on to something real," said Yeoh Lam Keong, vice-president of the Economic Society of Singapore, a non-profit organisation of economists.

Alan Lo Tzee-cheng, 45, a teacher at the International College Hong Kong who moved to the city from Australia four years ago, said many Hong Kong people were too focused on achieving material success, which made them unhappy.

"I can understand why so many people say they're unhappy in Hong Kong. I travel throughout [the city] during the course of my work and see a great cross-section of people. A lot of problems start with the fact that the culture and society here is very focused on success that's based on, essentially, money," Lo said.

"Money and competition about making more money than others penetrate all parts of people's lives. Their education, the way they raise their children, what they eat. Even to go shopping can be an emotional trial. Lots of luxury goods are so priced out of people's range that it builds up jealousy and envy. People become quite negative. I think that's the heart of it."

As a result, the people in Hong Kong and Singapore find themselves constantly buried in an avalanche of work, leaving them emotionally insecure and fragile.

Singaporeans have one of the worst work-life balances in the world, as they work some of the longest hours globally, explained Yeoh, a senior adjunct fellow of the Institute of Policy Studies, a Singapore think tank. "They are overstressed and do not have enough time for family and recreation."

An International Labour Organisation report in 2010 found that Singaporeans put in the longest hours at work. While the report did not specify exact numbers, the Ministry of Manpower in Singapore put the average at 45.9 hours per week. Hong Kong follows closely, with 44.5 hours per week according to government statistics.

There are no comparable statistics from Panama and Paraguay. In Panama, 50-hour workweeks are allowed for two months in a year for manufacturing ventures during the peak season. In Paraguay, the standard working hours for civil servants is around six to seven hours a day.

Wealth does not necessarily guarantee a good quality of life. The average living space in Hong Kong is only 12 square metres per person - one of the smallest in the world. Singapore ranks much better at 25 square metres per person. However, despite its reputation for having world-class public housing, education and health care, these are becoming increasingly unaffordable for a significant segment of Singaporean society, according to Yeoh.

Overcrowding and wage stagnation due to immigration have generated huge negative social challenges for low and middle-income Singaporeans, Yeoh added. "Income inequality has risen to high levels. Most studies show high income inequality leads to poor social well-being, reducing social mobility."

As Chua Kheng Kok, Asia Pacific president of Mary Kay, an American cosmetics company, remarked: "The polarity of wealth in Singapore has resulted in the rich becoming happier and the common people become unhappier. I find Singaporeans more envious of each other and therefore less happy."

The increasing wealth gap is hardly unique to Singapore.

In Hong Kong, government figures show that the median salary of Hong Kong's top 10 per cent of earners is HK$88,800 a month, more than 26 times that of the poorest 10 per cent.

Overall, one in six people, struggled with poverty in the second quarter of last year - a shocking figure given Hong Kong's reputation as one of the most affluent societies in the world.

And the problem is not just the disparity in wealth distribution, but also people's mentality towards it.

Jacqueline Tong Tze-ling, 24, an engineering consultant for an international firm who was raised in Canada and lives in Hong Kong, says Hongkongers are too intense and competitive.

"The main causes of unhappiness in Hong Kong are financial, and that's just how the society is set up. Everyone needs to compete, and it starts really early. Preschoolers already need to develop a portfolio. That's ridiculous. When I was in preschool [in Vancouver], I was happy and blowing bubbles," she said.

"People make their kids grow up too fast here. They don't get time to explore and enjoy the things they want to do … basically people trade their health in order to gain wealth in Hong Kong. That's the norm."

Alvin Tan Sheng Hui, a Singaporean working in Hong Kong, put the dilemma simply: "We in Hong Kong and Singapore have a lot to be thankful [for] and we forget that. We have more than we need, which also engenders envy and dissatisfaction. We want more, yet we thank less."

In both Hong Kong and Singapore, the key determinants of happiness are money, career and family, said Alvin Tan, an executive director at a leading investment bank.

"Singaporeans are generally positive fellows, though the pursuit of the 5Cs is now in question - whether it really brings true happiness," said Kelven Tan, a Singaporean businessman. The 5 Cs is a Singaporean acronym for the symbols of material success: car, cash, credit card, condominium and club membership. Tan said he had become happier after moving to Canada from Singapore several years ago.

"I moved because I wanted my family to know there is more in life than earning money, more to learning than scoring As to get good jobs, to learn the truths themselves," Tan explained.

Lee Kwok Cheong, CEO of SIM Global Education, the largest provider of private education in Singapore, said: "We [Singaporeans] have the paradox of being happy and unhappy at the same time.

"Singaporeans are on the whole happy. We appreciate how far Singapore has developed and how we have done better than most countries. We like to boast we are No1 in this and that.

"At the same time, we focus on where we have fallen short, and compare ourselves against a very high standard. This is partly due to our government reminding the population we would lose everything if we drop the ball. This insecurity, plus the pressure of living in a crowded city, cause us to complain."

In Hong Kong, property is the one thing that makes or breaks a person's fortune - and largely decides if he is happy or not.

Hong Kong residents who profited from earlier waves of property inflation were happier than those who did not, said Lee, a Hongkonger who has lived in Singapore for many years.

Tong, the engineering consultant, agrees. "It is very tough for young people to establish themselves in Hong Kong. They really can't afford to support themselves. Housing is a really big deal. They end up living with their parents even after they get married," she said.

"So you end up with generations of people living together, so no one has privacy or time for themselves at all because they're crammed in a small space."

Singaporeans generally do not wear their emotions on their sleeves and open up to strangers, unlike people from Malaysia or the Philippines, said Raju Chellam, South Asia and Korea head of cloud practice for Dell Computers.

"But the reality is different. Singaporeans care about their country, family, neighbourhood and people who have been mistreated. Since Singapore is hyper-efficient, there is little to complain about, compared to many countries," said Chellam, who was born in India and has lived in Singapore for 20 years.

A Singaporean lawyer working in Hong Kong said he felt happier here, enjoying the freedom and vibrancy of the city.

"People are less angry and more comfortable with themselves. … Everybody has a different point of view and is not afraid to express their individuality. The transportation system works well. Things are not overpriced except housing.

"You don't feel the government is taking everything and leaving you the crumbs. When you walk around the streets, you always find new things to discover. The city is always interesting, alive and surprising," he said.

However, not everyone is seeing the benefits.

The proportion of poor people is increasing in Hong Kong, says Tso, the psychiatrist. Many young Hongkongers with university degrees born after 1980 have high qualifications, but low income. "These young people have become frustrated and helpless."

Tso has a front-row seat to Hong Kong's high-pressure culture and the toll it takes on citizens. "Hong Kong people are under great stress. There is great demand for mental health services in Hong Kong nowadays."

Chua, of Mary Kay, offers a solution: wherever one lives, the key to happiness is to count one's blessings and to look on the bright side of things.

Measuring happiness - Hong Kong vs Singapore

Hong Kong

Population: 7,153,519

Per capita GDP: US$50,551

Nicknames: Asia's World City, The Big Lychee

Reasons to be cheerful: Spectacular views of mountains and the harbour, impeccable public transport, ultra-low taxes

Reasons to be gloomy: Pollution, overcrowding, astronomical property prices

Singapore

Population: 5,353,494

Per capita GDP: US$60,688

Nicknames: The Lion City, Disneyland with the Death Penalty

Reasons to be cheerful: Obsessive cleanliness, year-round warm weather, mix of cultures and cuisines

Reasons to be gloomy: Limited political freedom, corporal and capital punishment, large-scale immigration

Sources: World Bank, CIA World Factbook

http://www.scmp.com/news/hong-kong/artic...ss-deficit

Published: Sunday, 27 Jan 2013 | 6:13 PM ET

Internal reviews by banks in Singapore have found evidence that traders colluded to manipulate rates in the offshore foreign exchange market, according to a source with knowledge of the inquiries.

The discovery widens a global lending rate scandal into new markets, as fallout from the Libor case puts banks under added scrutiny and spurs both regulators and institutions to reconsider how certain key interest and currency rates are set.

The probes found evidence showing that traders from several banks communicated with each other over electronic messaging about what rates they were going to submit for the local banking association's fixings for non-deliverable foreign exchange forwards (NDFs), aiming to benefit their trading books.

"Traders were talking to traders, saying: 'I need you to help me today, I need to fix low,'" said the bank source, who asked not to be identified due to the confidential nature of the reviews.

NDFs are derivatives that let companies and investors hedge or speculate on emerging market currencies when exchange controls make it difficult for foreigners to participate directly in the spot market.

The contracts are settled in dollars, so there is no exchange of the underlying currency, but they can affect spot exchange rates.

The Monetary Authority of Singapore ordered banks that help set local interbank lending rates and NDF rates to review the fixing process last year as U.S. and British regulators cracked down on manipulation of the London interbank offered rate (Libor), a benchmark used to set interest rates for around $600 trillion worth of securities.

The investigations into Libor led to fines of $1.5 billion for UBS and $451 million for Barclays for rate rigging.

Regulatory probes stemming from the Libor cases in the United States and Britain have also revealed evidence of attempted manipulation of benchmark interbank lending rates in Tokyo, Hong Kong and Australia.

Banking watchdogs in Britain and elsewhere in Europe have begun trying to reform the way Libor and other interbank rates are set, to try to ensure the numbers can't be manipulated.

The Singapore bank probes show that the focus is now turning to other benchmarks, amid concern that they too were manipulated.

The biggest banks in the Asian NDF markets include UBS, JPMorgan Chase, DBS Group Holdings and HSBC Holdings.

The source did not make specific comments about possible wrongdoing by individual banks or traders and Reuters has no independent evidence of such wrongdoing.

UBS, JPMorgan, DBS and HSBC declined to comment. Reuters also contacted the other 14 banks involved in setting NDF rates. Twelve said they had no comment while two did not respond to repeated telephone and e-mail requests for comment.

Disciplinary Action

Under the NDF rate-setting process, organized by the Association of Banks in Singapore (ABS), banks submit their reading of the spot price for the Indonesian rupiah, Malaysian ringgit and Vietnamese dong every working day at 11:00 a.m. (0300 GMT).

A settlement rate for NDF contracts due to expire is then calculated by taking the average of the submissions, excluding the highest and lowest quarters of contributions from the banks.

While the exclusion of the rates at the top and the bottom of the range is meant to ensure that one bank cannot try to improperly skew the rate, the concern is that collusion by traders at multiple banks could influence the result.

There are 18 banks on the panel for the rupiah, 15 for the ringgit and 12 for the dong.

The Monetary Authority of Singapore told banks in the city state last July to review the way they set interbank lending rates, in the wake of the Libor scandal.

As bank officials pored over documents and communications, they came across evidence that raised alarm bells over activities in the NDF markets as well, spurring an extension of the reviews to those markets in September, the source said.

In Singapore, benchmark rates for both interbank lending and certain NDFs are set by panels of banks organized by the ABS. Thomson Reuters, parent company of Reuters News, calculates and distributes the spot reference rates for the rupiah, ringgit and dong NDF markets on behalf of the ABS, as well as other interbank lending and currency rates. "Thomson Reuters supports any measures that create more robust benchmarks for the market and we fully cooperate with regulators, authorities and benchmark sponsors' investigations as required," a Thomson Reuters spokeswoman said.

In December, the Monetary Authority of Singapore issued a statement setting out the banks' obligations under the reviews, although it has not made clear whether it would take action of its own based on the results.

"The banks have to immediately report any irregularities they uncover to MAS, and have to take appropriate disciplinary action against staff involved in such irregularities," the statement said.

"The reviews are ongoing, and it is premature to speculate on the outcome of these reviews at this stage."

The central bank provided no further comment when asked by Reuters about the probes' findings.

The source said most banks had submitted their reviews to the authorities at the end of last year but did not say what disciplinary actions if any were planned for banks or traders who tried to manipulate rates.

The MAS said last year that it was working with the ABS to review the way NDF rates and the city state's benchmark lending rates are set. The association declined to comment for this story.

Banks dealing in over-the-counter products in Singapore such as NDFs follow a code-of-conduct set by the Singapore Foreign Exchange Market Committee, known as The Blue Book.

That includes a requirement that: "dealers and brokers shall not engage in manipulative or deceptive conduct or any form of conduct which would give other users of the market a false or misleading impression as to prevailing market conditions."

Market Things Out

Trading volumes in the NDF markets are much smaller than for derivatives linked to Libor, although they are hefty enough to effect spot rates for the underlying emerging market currencies.

(Read More: Asian Tycoons Near Final Battle in War for Singapore's F&N)

For the Indonesian rupiah, the biggest market fixed in Singapore, daily turnover is estimated between $700 million and $1.3 billion, according to an

HSBC report. Since NDFs are traded over the counter, there is no fixed data on volumes.

Traders say even a small movement in an NDF fixing could have a big impact on a bank's trading book if it had a large number of contracts expiring.

Many of the traders involved were junior and did not appear to think they were doing anything wrong, said the source.

http://www.cnbc.com/id/100410762

Let have a wonderful Snake year ahead.



Rat http://www.youtube.com/watch?v=RXflrAKhqp8

Ox http://www.youtube.com/watch?v=iyPNuXwXoL0

Tiger http://www.youtube.com/watch?v=bwJ9TUuz-uE

Rabbit http://www.youtube.com/watch?v=ebXswkWj6IM

Dragon http://www.youtube.com/watch?v=n4pJqdVhY_E

Snake http://www.youtube.com/watch?v=wy1sk42uLyw

Horse http://www.youtube.com/watch?v=_HT8IPMsREg

Goat http://www.youtube.com/watch?v=AWalKzUdw3I

Monkey http://www.youtube.com/watch?v=cC00JY85jos

Rooster http://www.youtube.com/watch?v=wbNPSKRFNZ8

Dog http://www.youtube.com/watch?v=YeUMrz4ttYQ

Pig http://www.youtube.com/watch?v=OItkN9DAuBg

http://www.ava.gov.sg/NR/rdonlyres/7223B...NTAINM.pdf

Hi Forumers,

Does anyone know what are the SGX regulations for directors to trade before or after earning release? For e.g. are directors of the company not allowed to trade 2 weeks before and after earnings release? I tried to google but could not find anything quickly.

Wow, I didn't know investing has to be exciting. I think you would be able to make money more consistently if it was boring.

As usual, the mainstream media uses the words trading and investing interchangeably.

The Straits Times
www.straitstimes.com
Published on Jan 22, 2013
OCBC's investor hub opens amid trading pickup

By Alvin Foo

TIPS from analysts and other market watchers that this will be a bumper year for equities have prompted investors to pile back into shares.

Local brokerages report a keen pickup in trading from retail investors since the new year as a mood of optimism gathers pace.

OCBC Securities managing director Raymond Chee said yesterday: "Since the beginning of 2013, we have seen daily trading volume for retail customers double the daily average trading volume in 2012."

Dealers attribute this surge to a revival of penny counters. Overall, the Singapore market has averaged 5.4 billion shares done daily this year, a vast increase from the 2.1 billion average seen last year.

Mr Chee mentioned the upswing in activity during the official opening of his firm's $2 million investor hub in Raffles Place.

The 6,600 sq ft facility at 18, Church Street hit the drawing board about two years after research involving 100 retail investors and in-house experiential work. It has been operational since last July.

The research told OCBC Securities that investors wanted a venue where they could share trading ideas, talk to trade specialists, access market information and feel the excitement of investing.

The broker did not expect such enthusiasm for one-on-one contact and "human interaction" in the light of the rapid growth of mobile gadgets and online trading. Mr Chee said: "We have been surprised by our investors wanting brick-and-mortar trading experience in addition to the convenience of a good online trading platform. The brick-and-mortar touchpoint is not dead."

Among the hub's key features is a multimedia trading gallery touted to be the first in the brokerage industry. It has a full range of mobile trading gadgets - from the iPhone and iPad to BlackBerry and Android devices - that customers can use to access OCBC's mobile trading application.

There are also six trading terminals for clients to place orders and a digital media wall showing key global market indexes, the prices of main commodities and popular foreign currency pairs.

Mr Chee said about half of his firm's customer trade in terms of value is done via the Internet. Of these, about 20 per cent is conducted through its mobile trading application.

The hub also has five customer service pods, two private meeting rooms, and a seminar room that can seat up to 80 people. There is also a gallery that allows clients to catch the dealers in action.

Retail investor Cheong Pak Seng, 74, who frequents the hub two to three times a week, found the computer terminals very useful for monitoring stock prices and executing his trades. "It's also in a convenient location, in town, and very near to the MRT," he added.

alfoo@sph.com.sg

Dear investors,

Products are generally shipped Freight on Board (FOB) from the Company’s warehouse, at which time risk of loss and title passes to the purchaser.

Does this indicate that once the products leave the warehouse of the seller, the risk of loss and title would be transferred to the purchaser?

Thanks in advance!

This is sad news - first Tower Records, and now HMV! I used to shop for music in the 1990s at these two locations - they had solid collections and sometimes invited artistes (like The Corrs!) to perform. Ah, the memories.

The Straits Times
www.straitstimes.com
Published on Jan 16, 2013
Struggling music store HMV looking for buyers

London - Music and DVD retailer HMV said it was calling in the administrators after a last-ditch attempt to secure funding failed, bringing the curtain down on one of Britain's best-known high-street retail stores.

Accounting firm Deloitte has been named as the administrator and intends to keep the business running while it seeks a potential buyer, HMV said in a statement on Monday.

The company, which has struggled amid declining music, DVD and games markets, still has 239 stores in the United Kingdom and Ireland with 4,350 staff. At its two stores in Singapore, it would be business as usual "until further notice", marketing executive Rachel Tan said in an e-mail to Life! yesterday.

Last month, HMV warned a breach of its banking agreements was likely and it had been in talks with its banks to remedy the breach, it said on Monday.

"However, the board regrets to announce that it has been unable to reach a position where it feels able to continue to trade outside of insolvency protection and in the circumstances therefore intends to file notice to appoint administrators to the company," the company said.

HMV's chief executive is Mr Trevor Moore, who joined the company last year from camera specialist Jessops, which last week also went into administration.

Opened on London's Oxford Street by English composer Edward Elgar in 1921, HMV, famous for its "Nipper the dog" trademark, grew to become a musical powerhouse, selling records and albums to generations.

The firm had a hand in the Beatles' big break 40 years later, recommending the group's demo record to publishers.

It underlined its status as an industry figure by opening the world's biggest music entertainment store in London in 1984. The 1990s signalled major expansion as HMV opened abroad and branched into books and then live music venues and festivals.

In 2006, it even rejected a private equity takeover bid valued at £847 million, before the rise of online and digital music spelt the beginning of its struggles.

A rapid fall in the sales of physical CDs has seen rivals such as Zavvi go bust or others such as WH Smith exit the market. With DVD and games demand also in decline, HMV belatedly tried to shift its focus towards technology products such as tablet PCs and headphones but it faced tough competition from online firms such as Amazon.

The support of suppliers - music labels, games manufacturers and others who look to HMV as one of the last bastions of entertainment content on the high street - has been crucial.

As its debt rose - underlying net debt stood at £176 million (S$346.9 million) at its half year to Oct 27 - the company sold off much of its live entertainment business. It had disposed of book chain Waterstones in 2011.

HMV had been pinning its hopes on a late Christmas surge in sales but it sparked worries last week that such a surge had not materialised when it launched a month-long sale on some products, sending its shares to an all-time low.

HMV shares closed down 8.3 per cent to just above a penny a share on Monday, valuing the company at about £5 million.

Its shares will be suspended ahead of yesterday's open.

Reuters