Singapore 

666 dengue cases recorded in Singapore last week, a 3-year high: NEA, Singapore News

SINGAPORE – The number of dengue cases in a week has hit a 3½-year high, with 666 cases recorded last week, the National Environment Agency (NEA) said. In an update on its website on Monday (July 15), NEA said that this figure for the period between July 7 and 13 was 73 more than the previous week. It also surpasses the previous weekly peak of 637 cases recorded in January 2016. As of Sunday, there have been 7,374 dengue cases so far this year, about five times more than the…

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High on the success of 785pc returns on Kweichow Moutai, fund manager sees ‘historic opportunity’ in banking stocks

After years betting solely on Kweichow Moutai, Dong Baozhen is diversifying.The money manager’s flagship fund has returned 785 per cent since its inception in 2010. He trounced the Shanghai Composite Index’s 14 per cent gain by owning just the one stock, sticking with Moutai as it became the world’s most valuable distiller. But Dong, a partner at Beijing Lingtongshengtai Asset Management, sees any price above 700 yuan (US$102) as excessive. Moutai last closed at 968 yuan.Dong, who recognises… Source link

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Singapore 

MPH Bookstores to close last two outlets, cites high rental costs, Singapore News

MPH Bookstores will be closing its two remaining outlets at Raffles City and Parkway Parade on July 28 and Sept 1 respectively. It has begun clearing stock to prepare for the last day of operations. The company told The New Paper on Wednesday that it was exploring potential locations to relocate to a single outlet. It declined to name likely locations because of negotiations. MPH cited the unsustainable high rental costs of both outlets and intense competition with major e-commerce players in Singapore as reasons for the closures. The company…

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Analogue Holdings’ IPO oversubscribed 6.6 times as Hibor hovers close to 11-year high

Analogue Holdings, Hong Kong’s largest electrical and mechanical engineering company controlled by the husband of the city’s justice minister, is raising HK$336 million (US$43 million) in net proceeds in an initial public offering.The company said that because the retail tranche was oversubscribed 6.6 times, it decided to double the public portion to 20 per cent of the overall shares. It offered 350 million shares overall at HK$1.2 apiece. The shares will start trading on Friday.The IPO comes… Source link

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Budweiser’s mega IPO falls flat with Hong Kong investors as high borrowing costs take the fizz out of demand

For many people there is nothing worse than a flat beer. Demand in Hong Kong for the biggest IPO of the year so far was anything but sparkling as Budweiser Brewing Company APAC’s shares proved they were not to everyone’s taste.The retail offering, which ran from Monday until noon on Thursday, is probably about 3.7 to 5 times oversubscribed, according to the latest estimates of 10 stock brokers polled by the South China Morning Post. That is far lower than initial forecasts that the IPO would be… Source link

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Erosion of Hong Kong’s institutional autonomy will hurt advantage over mainland China cities, high credit rating: Moody’s

A potential erosion of Hong Kong’s institutional independence from Beijing over time could diminish the special administrative region’s advantage over mainland Chinese cities, as well as its higher credit rating, ratings agency Moody’s said on Friday.The agency said it was affirming the city’s long-term issuer rating of “Aa2”, two notches higher than China’s “A1” and two notches lower than the United States’ “Aaa”.“Over time, and as 2047 – the end of the 50-year transition period – approaches,… Source link

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Vietnam 

Lychee revenue in Bắc Giang reaches 60-year high of US$262.6 million – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Farmers in the northern province of Bắc Giang had a bumper crop with revenue of US$262.6 million. — Photo phapluatplus.vn BẮC GIANG — Farmers in the northern province of Bắc Giang earned revenue of VNĐ6.1 trillion (US$262.6 million) from lychee this year, surpassing records in the past 60 years in terms of value. The total revenue from lychee was VNĐ5 trillion in 2016, VNĐ5.3 trillion in 2017 and VNĐ5.8 trillion in 2018. Farmers in the province have not had to bring their lychee to the market. Traders came to…

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Vietnam 

Việt Nam consumer confidence index rises to record high – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Consumer confidence index in the Asia Pacific in the first quarter of this year. — Photo Nielsen Vietnam HCM CITY — Việt Nam surpassed Indonesia to rank third in consumer confidence in the first quarter behind only the Philippines and India, according to the latest Conference Board Global Consumer Confidence Survey conducted in collaboration with global measurement company Nielsen. With a seven point increase from the fourth quarter last year, Việt Nam hit a record 129 points in the Consumer Confidence Index (CCI). Việt Nam’s was the biggest gain in…

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Singapore 

Insurance linked to high medical inflation, Singapore News

Overuse of insurance and pricey doctors in private practice could be reasons for the high inflation in the healthcare sector, said experts. Medical cost inflation here rose 10 per cent last year, 10 times more than the Singapore economy’s estimated 2018 inflation rate of 1 per cent, according to Mercer Marsh Benefits 2019 Medical Trends Around the World report. The headline inflation officially came in at 0.4 per cent. Singapore was sixth highest of 11 Asian countries surveyed, and its 10 per cent increase was slightly lower than the Asian…

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Vietnam 

Africa has high trade potential with VN – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

  Africa has high demand for products such as rice and coffee, which are Việt Nam’s strengths. — VNA/VNS Photo Đình Huệ HCM CITY — More Vietnamese businesses should pursue trade with Africa which has high demand for products that are Việt Nam’s strengths, according to the Ministry of Industry and Trade’s West Asian-African market office. Nguyễn Minh Phương, head of the office, said that Africa’s production capability still needs more development and as a result, it has a high demand for consumer goods and foodstuff. The region also supplies raw materials for…

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