Temasek mulls joint investments with public

http://www.businesstimes.com.sg/sub/news/story/0,4574,343869,00.html?

"... Asked about the shock departure last week of her would-be successor Charles 'Chip' Goodyear, Ms Ho said: 'I want to reaffirm that the decision was both mutual and amicable. We continue to hold Chip in very high regard for his professionalism and his integrity, so all those funny rumours you hear about his management style and all that, you can disregard..."

High regard for his integrity? Hmmmm...



Post Date: 30 Jul 09

Wonder Girls - Nobody

Very catchy ...





Post Date: 30 Jul 09

I think we hit jackpot!

Wifey tested again today.

It showed positive.

Ermm, I think we are going to be parents soon.

YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES! YES!



Image credit here.

Post Date: 30 Jul 09

I think we may be on to something

I think we may be on to something.
I think we may be on to something.
I THINK WE MAY BE ON TO SOMETHING - YIPPEEEEE!



Image credit here.

Post Date: 24 Jul 09

Longest solar eclipse of the 21st century

http://travel.asiaone.com/Travel/News/Story/A1Story20090722-156327.html

VARANASI - The longest solar eclipse of the 21st century cast a shadow over much of Asia on Wednesday, plunging hundreds of millions into darkness across the giant land masses of India and China.

Ancient superstition and modern commerce came together in a once-in-a-lifetime opportunity likely to end up being the most watched eclipse in history, due to its path over Earth's most densely inhabited areas.

While bad weather confounded some eclipse watchers, tens of thousands of people gathered at dawn on the banks of the Ganges river in Varanasi where a largely cloudless morning offered a stunning view.

With Hindu priests conducting special prayers, the crowds cheered and then raised their arms in salutation as the sun re-emerged from behind the moon, before they took a spiritually purifying dip in the river's holy waters.

A total solar eclipse usually occurs every 18 months or so, but Wednesday's spectacle was special for its maximum period of "totality" - when the sun is wholly covered by the moon - of six minutes and 39 seconds.

Such a lengthy duration will not be matched until the year 2132.

State-run China Central Television provided minute-by-minute coverage of what it dubbed "The Great Yangtze River Solar Eclipse" as the phenomenon cut a path along the river's drainage basin.

Millions of people in areas of southwestern China enjoyed a clear line of sight, according to images broadcast on CCTV, but the view was obstructed along much of its path by cloudy weather.

Shanghai viewers braved rain and overcast skies to witness the spectacle as darkness shrouded China's commercial hub at 9:36 am (0136 GMT).

"It is working hours now, but with such a spectacle going on, you don't want to miss it. The experience is truly thrilling," said Allen Chen, a Shanghai office worker, who stepped out into the street to witness the event.

And despite the weather, hotels along Shanghai's famed waterfront Bund packed in the customers with eclipse breakfast specials.

Those who could afford it grabbed expensive seats on planes chartered by specialist travel agencies that promised extended views of the eclipse as they chased the shadow eastwards.

The cone-shaped shadow, or umbra, created by the total eclipse first made landfall on the western Indian state of Gujarat shortly before 6:30 am (0100 GMT).

It then raced across India and squeezed between Bangladesh and Nepal before engulfing most of Bhutan, traversing the Chinese mainland and slipping back out to sea off Shanghai.

From there it moved across the islands of southern Japan and veered into the western Pacific.

In Mumbai, hundreds of people who trekked up to the Nehru planetarium clutching eclipse sunglasses found themselves reaching for umbrellas and rain jackets instead as heavy overnight rain turned torrential.

"We didn't want to watch it on television and we thought this would be the best place," said 19-year-old student Dwayne Fernandes. "We could've stayed in bed."

Others opted to stay home and shuttered their windows, fearful of the effects of the lunar shadow which some believe can lead to birth defects in pregnant women.

Superstition has always haunted the moment when Earth, moon and sun are perfectly aligned. The daytime extinction of the sun, the source of all life, is associated with war, famine, flood and the death or birth of rulers.

The ancient Chinese blamed a sun-eating dragon. In Hindu mythology, the two demons Rahu and Ketu are said to "swallow" the sun during eclipses, snuffing out its light and causing food to become inedible and water undrinkable.

Some Indian astrologers had issued predictions laden with gloom and foreboding, and a gynaecologist at a Delhi hospital said many expectant mothers scheduled for July 22 caesarian deliveries insisted on changing the date.

The last total solar eclipse was on August 1 last year and also crossed China.

The next will be on July 11, 2010, but will occur almost entirely over the South Pacific, where Easter Island - home of the legendary moai giant statues - will be one of the few landfalls. -AFP



Image credit here.

Post Date: 24 Jul 09

The Eagle Has Landed

Today marks the 40th anniversary of Apollo 11's landing on the moon.

That triumph over the (then thought) impossibility so intrigued a particular Singapore boy that he became interested in the moon, and astronomy in general, and he constantly pestered his parents to allow him to buy space books. His first astronomy book was a thin hard-cover book bought from Emporium. He still remembers its yellow-coloured price tag and that it has, on its cover, sun rise over Earth, seen from space.

Secretly he wanted to be an astronaut. Neil Armstrong was his hero. He wanted to get the best seats in the house when it came to space exploration. In his kiddy mind, the excitement far outweighed the fear of not coming back. However, when confronted with the school composition topic of "What I want to be when I grow up", he didn't write about being an astronaut. Apart from the lack of a space programme in Asia (then), he was also afraid of being laughed at. (This inferior complex will continue to haunt him into his adulthood, with no remedy in sight).

He read that the astronauts were mostly engineering graduates and fighter pilots. Alas, our dear boy didn't make the cut. Not only did he suck big time in science (C5 for 'O' level Chemistry and C6 for Physics), his stubby existence (pun intended) meant that he'll never fit into the fighter cockpit. That one briefing at the RSAF is at the far end of his failing memory.

Despite the setback, he continued his dalliances with astronomy, buying the occasional book and DVD boxsets. He considers the purchase of the DVD set of the TV series From the Earth to the Moon a coup, considering that he searched for it for years.

To date, he has yet to haul his big, fat ass to the shelf to retrieve the box, remove the shrink wrap and pop the DVDs into the player.







Image credit here.

Post Date: 20 Jul 09

Chinatown

Wifey and I were in Chinatown over the weekend. We came across a flea market stall holder peddling CDs of yesteryear superstars. I started humming and Wifey exclaimed I was such an ah pek.

For the longest time, I wondered why I like to hang around here, but now I think I have some possible explanations:

- it offers a glimpse into how Singapore was, a hark back to our past
- the place is laid back, old school, away from the hustle and bustle of city life
- the relentless modernisation has not affected it in a big way. Yet.
- it is associated with happy thoughts, since I come here to change money for holidays
- it is real, not pretentious, no facade
- they play great (read: old) music!






Post Date: 20 Jul 09

5 down, 5 more to go

Wow, already halfway there.

Sore fingers and shoulders aside, we did well, exceptionally well - 101%. This brought cheer to the team and at least they could see their hard work paying off.

We ended around 4.30am, after which Wifey and I went for a well-deserved, calories-laden snack at Jalan Kayu.

The news is that from next week, we will take a break and go back to the less intensive format. Hopefully we can end earlier. Also hoping that the team is not needed, so that they can finally catch their breaths.

Menu: Bengawan Solo cake and kuehs with boiled chrysanthemum tea



Post Date: 20 Jul 09

Romance of the Three Kingdoms XI

19 years, 16 years, 10 years.

After 3 campaigns, many hours and dreams later, it's time to say bye bye to the game.

I've uninstalled it. I need my time, sleep and brain cells back.



Image credit here.

Post Date: 16 Jul 09

Visions @ 0700 (15.07.09)

Strange, short dream this morning.

Can't remember how it started, but the part I recall starts with me walking into the old house at 坡底. On the bench in the outer hall sat 外婆, with her glasses and baby blue top. But upon closer look, it seems like its grandma, not 外婆.

In the inner hall on the left sat 2 ladies. 二姨 was facing the entrance while I had to walk nearer before recognising 四姨.

In the dream, it felt like one of those visits to the old house, with people sitting around chit-chatting away happily. I'm surprised my subconscious mind can still remember the layout so vividly.

But 2 of the 4 persons in the room have already passed on. A sign? A message? Somehow after the dream, I just couldn't get back to sleep, no matter how hard I tried.



Post Date: 15 Jul 09

4 down, 6 to go

Full attendance today.

Think we have settled into a routine, in that the tests are roughly the same as the previously weeks. However, we have been warned that from next week, it will be DIFFERENT.

We ended before 5.30am, and clocked the highest score to date: 100%. I don't know how we did it, but we did it.

Went to bed around 7.40am. After barely 3 hours, I was struggling to fall asleep. What the hell??!! Is someone or SOMETHING trying to prevent me from sleeping? At 12.30pm, after around 5 hours of sleep (only 5 freaking hours!), I woke up. Can't sleep no more. And what did I do when I woke up? Watch TV? Read newspaper? Play games? Hell no!

I did housework! Mum will be so proud!

Anyhow, later in the afternoon, we went to the temple to 拜拜. The volunteer there saw us and starting asking if we were ok. So long never see us already, she said. The others are also asking. Told her we have been busy and will still be busy for the next 1.5 months (fingers crossed), and that we can't wait to resume our Sunday morning prayers routine.

She exclaimed that we lost weight. How not to??!!

The damage after 1 month: $800

Menu: boiled chrysanthemum tea with DIY hot dogs



Post Date: 15 Jul 09

MAS bans 10 FIs from selling structured notes

http://www.businesstimes.com.sg/sub/news/story/0,4574,340842,00.html?

COMMENTARY

The cane whistles, but does it really hurt?
MAS bans won't affect FIs much and it shouldn't gloss over deeper issues

By WONG WEI KONG

IT is a pity that what seems so tough is really just a slap on the wrist.

So the Monetary Authority of Singapore (MAS) has banned 10 financial institutions (FIs) from selling structured notes for periods ranging between six months and two years for mis-selling products linked to collapsed US bank Lehman Brothers.

The offending banks on the list are all established names: ABN-Amro, DBS Bank, Maybank, DMG and Partners Securities, UOB Kay Hian, CIMB, Kim Eng Securities, OCBC Securities, Phillip Securities as well as Hong Leong Finance. These were names that many investors instinctively trusted - but, as the MAS findings show, it was a trust that was grossly misplaced.

On the surface, the MAS ban, following approximately seven months of investigations, appears to be appropriate punishment. But it really rings hollow, because it isn't going to hurt the FIs very much. The fact is that the whole structured products market has vanished - the financial crisis and the structured notes fiasco have seen to that. Even without the ban, these FIs weren't selling any structured notes.

This will be cold comfort to the 10,000 or so investors who suffered from the mis-selling, some of whom will never fully recover from the blow. And it isn't satisfactory, given the serious lapses at the FIs. The list of shortcomings makes for shocking reading: risk profile questionnaires that were wrongly scored; risk profile scoring systems that did not allocate numerical scores; wrong classifications of products, and relationship managers (RMs) and representatives who refused to attend the pre-requisite training. And all the FIs get, so far at least, is a ban on doing a business that doesn't exist anymore.

If a ban really means nothing, the MAS should have imposed fines, big fines, that will hurt the FIs. If it does not want to collect fines, it should have considered pushing the FIs to compensate, more than what they have done, the investors who are seeking redress. Of course, the FIs will say they're suffering reputational damage, but that's already a fact, and that is well deserved.

Oversight and processes

There's another point worth making. Apart from investigations into FI-wide issues, the MAS is concurrently looking into specific cases 'where individuals involved in the sale and marketing of the notes may have departed from the relevant regulatory standards'. Inquiries are ongoing and any regulatory action taken against individuals will be published in due course, the central bank said.

While it remains to be seen what the MAS will do in this respect, it will be a pity if any subsequent action taken is only against the RMs and representatives actually selling the products on the ground. The nature of the lapses identified by the MAS suggests a failure in oversight and processes, which really points the finger at senior executives, and they shouldn't escape responsibility.

And what about the MAS' own role? Dare we suggest that if the sub-prime fiasco hadn't happened and Lehman hadn't collapsed, the mis-selling would have continued merrily and no one would be the wiser? How closely did the central bank supervise the banks when it came to the sale of structured products before the crisis? Liberalising the market is good, but if not implemented properly, the costs, as proven now, are enormous. The MAS itself should be deriving lessons from the whole affair.

Time to win back trust

The industry will respond to this as it usually does. Indeed, the Association of Banks in Singapore (ABS) immediately announced that its member banks are putting in place a series of measures to further protect the interests of consumers who buy investment products, with the measures covering a range of governance and assurance processes, training and compensation of sales personnel, consumer education and enhancements to the sales process. Investors will take all this with a pinch of salt. Weren't there such protestations before?

Forget expansion - winning back trust should be the biggest priority for banks and financial institutions.



Post Date: 24 Jul 09

3 down, 7 to go

Wife was down with gastric flu, so we had a modified format.

We broke new grounds in that we:

- clocked the most no. of hours so far, 10.30pm to 6.30am = 8 hours
- got the highest score so far, at 95%

Managed to go to bed only around 7.50am, after tidying up. The still morning air made everything so ... serene, and I was at peace with the world.

Menu: boiled barley drink with steam buns



Post Date: 6 Jul 09

Infahini

The one bright spark from the recent Influenza A (H1N1) outbreak was this gem I heard last night:

"My parents just came back from Malaysia, my brother from Indonesia, my sister works in RP, my best friend is a student of RP, and her mother just came back from China. So do you think I should impose self quarantine?"



Image credit here.

Post Date: 6 Jul 09

Life, in one day

Today is a special day. In one day, I witnessed the 酸甜苦辣, the ups and downs and the trials and tribulations of life.

- At lunch, a friend that has just joined a new company was trying to get us interested in their services. No basic pay, all comm

- At same lunch, another friend informed that he'll be a father a second time at the end of this month

- Someone just bought a new car which will be delivered by the end of next week

- Met up with a close friend who recently lost his job, and is going through a property agent course to bring the bacon home

- Got a call from a keen property-investor to co-visit some new and interesting projects

In life, there are no absolutes, no firm good life or bad life, no definite rights or definite wrongs. What you have too much off and willingly forgo, others may kill to obtain them. What you think is life dealing you a raw deal, others may feel that it's a walk in the park.

The rule of thumb in life for me is to appreciate what I have NOW, and treasure every moment.

AND I AM A LOOONNG WAY OFF FROM PRACTISING WHAT I PREACH.



Photo credit here.

Post Date: 6 Jul 09