Agreed !

Disagreed ! Only very selected counters move more than few %.... the rest like ping pong or can't even cover brokerage fee.... important market must rise across the board !!

if you trust him, and bought a lot last week, today, is a laughing day...

des_khor      ( Date: 06-Sep-2010 10:58) Posted: meaningless.... victorf      ( Date: 06-Sep-2010 10:47) Posted: Market closes higher high according to script written....good luck :) 02-Sep-2010 12:16 Straits Times Index   /   STI to cross 3000 boosted by long-term investors       Go to Message x 0 x 0 higher high being challenged according to script....good luck :)

STB bullish about revenue for Formula 1

Singapore

This year, the Singapore Tourism Board (STB) have projected a sum of $100 million, as they expect foreign visitors to flock back to the race.

Speaking to MediaCorp on Friday, Chew Tiong Heng, Director of Destination Marketing at STB, said: “About 40 per cent of the spectators this year will be foreign visitors.

The season has gained traction, people are expecting and hearing the very exciting lineup that we have about the season, so we think that we are already gaining a certain kind of reputation — to deliver an F1 experience that is quite unique to this part of the world.”

The two new integrated resorts will contribute to the buzz, but STB have also unveiled several attractions as part of their 2010 Singapore Grand Prix Season.

International recording artistes like Mariah Carey and Missy Elliott have been lined up and they will be supported by 400 other acts, costing a cool $5 million.

To rev up the entertainment factor, the Singapore Grand Prix Season will also feature a week-long period (Sept 17 to 26) of Formula 1-related events.

There will be art on display, various parties to attend and the Digital Nights@Orchard to visit — a showcase of new media and digital arts using 3D, mapping familiar sights along Orchard Road.

Another feature will be the Soundpark at ION Orchard, where the highlight will be a 13-metre long Soundbox, which replicates the sound of Formula 1 cars whizzing.— The 2008 Formula 1 SingTel Singapore Grand Prix generated more than $150 million in tourism receipts, but dipped to $93 million last year, due to the economic slowdown.

Patwant Singh

GIC ‘eyeing $3.2b stake in Brazilian bank’ — The Government of Singapore Investment Corp (GIC) is in talks to buy a 16-per-cent stake in Brazilian investment bank Banco BTG Pactual for US$2.4 billion ($3.2 billion), the Brazil-based Exame magazine reported on Friday, citing people familiar with the negotiations it did not name.Bloomberg, while spokespeople for BTG Pactual in Sao Paulo were not immediately available for comment.

SAO PAULO

GIC declined comment when contacted by

Banco BTG Pactual, controlled by billionaire Brazilian Andre Esteves, was created in 2009 after BTG took over UBS Pactual from the Swiss bank.

It is the largest independent investment bank in Latin America and has regional offices in key global financial capitals such as London and Hong Kong to leverage on its expertise in emerging markets.

The bank operates in the areas of investments, asset management and wealth management.

GIC already is the largest shareholder in Switzerland’s UBS and one of the biggest in United States’ Citigroup, with its stakes in the two banking giants estimated at some $12 billion at current market prices.

If it takes the stake in BTG, it will be spreading its multi-billion bets beyond Europe and North America into the South American market.

SHORT  BANKS ??

SHORT PROPERTIES  ??

LONG  GENTING  TWINS  ??

PrOperty cOOling measures timely: Wing Tai — The measures announced by the government on Monday to cool the property market were timely as prices had gone up to unsustainable levels, according to real estate developer Wing Tai Holdings.

Wong Siew Yin

SINGAPORE

Mr Edmund Cheng, Wing Tai’s deputy chairman who said this on Friday at the launch of its luxury project Belle Vue Residences (picture), added that prices for future land tenders would need to be adjusted downwards as sentiment had cooled.

However, he said Wing Tai would not be affected too much by the new curbs.

“The measures, I think, address the upgraders’ market more. Most of our properties are all high-end, upper-middle and super high-end, so the impact is not much,” he said.

Wing Tai said 109 of its 167 units at Belle Vue had been sold. It said it was confident that the project would be fully taken up, with foreigners expected to make up half the buyers. The remaining units are priced between $2,300 and $2,800 per square foot.

But while developers such as Wing Tai may stay positive, some observers expect the banking sector to feel the impact from the recent anti-speculative measures.

Banks could see a significant drop in profit contributions from housing loans, some analysts said.

“UOB has the largest percentage based on their total income. For them, we are looking at 20 to 30 per cent of their total top line coming from housing loans.

Therefore they would be, in our view, most affected by the clamp down in the property sector, followed by DBS,” said Mr Moh Tze Yang, lead analyst at SIAS Research.

In  vIew  Of   rIsk  Of  near tOtal lOss

and   dIre  Of  near  zerO  Interest  rate

bEttEr  and  safEr  tO  depOsIt  In

GENTING  TWINS ?