Philip Chua Business Blog

Archive for August 17th, 2009

STOCKS here are likely to face a rough ride this week, following the release of economic data suggesting a mixed outlook for recovery in the world’s biggest economies.
Investors looking to the United States for direction will find little comfort – Friday was a roller-coaster ride of welcome and unwelcome surprises, sending the major US equity indices lower for the week.
The Reuters/University of M… more

(SINGAPORE) The Monetary Authority of Singapore (MAS) is suing well-known fund manager Tan Chong Koay for alleged false trading in Singapore-listed United Envirotech (UET) shares in late 2004.
Dr Tan is chief executive of Pheim Asset Management, a US$1.26 billion boutique fund he founded in 1994. Pheim has also been named as a defendant in the suit, the second such filed by MAS under its new civil… more

(SINGAPORE) The economic crisis though ‘worse than we had expected’ has been ‘less bad than we had feared’, Prime Minister Lee Hsien Loong said last night at the annual National Day Rally.
In a wide-ranging speech, the Prime Minister touched on health care and also spoke at some length on the trend of surging religiosity, but focused the first part of his speech on the effects of the global econom… more

THE super equity rally could hit a temporary speed bump, as investors take stock after the recent charge and hunt for fresh catalysts to further fuel the sharp recovery.
With the end of the second-quarter earnings reporting season here, market players will be turning their focus on economic data for more clues on the pace of the rebound.
While data from the United States and Europe last week sugge… more

ANTI-SPECULATIVE measures, falling rental yields and ballooning supply may drive residential property prices down by about 20 per cent, says an analyst.
Sounding a contrarian view that runs against current sentiments, RBS Singapore analyst Fera Wirawan warned that prices of some segments of the market have risen to 2007 peaks amid a strong upswing in buying levels.
Based on her analysis, prices of… more

THE local stock market may be enjoying a rally, but it was a vastly different picture for corporate Singapore’s earnings in the first half of the year.

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Most listed companies here bore the full brunt of the global recession, which was at its most br… more