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Down-coat maker Bosideng’s shares fall by most on record after short seller Bonitas Research questions accounting practices

Bosideng International Holdings, a Chinese clothes maker specialising in down jackets, saw its shares fall the most on record after a short seller report questioned the company’s accounting practices.Hong Kong-listed Bosideng had overstated its revenue and profit, according to a note published on Monday by Bonitas Research.The stock fell as much as 28 per cent within an hour after the Bonitas Research report was released at around 10:30 am. The company suspended trading at around 11:15am with… Source link

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Australia’s property market has the right catalysts for a rebound: record low interest rates and investor-friendly government

Record low interest rates and the re-election of a business friendly government will provide a boost to a slumping Australian property market, according to market observers.This month the Reserve Bank of Australia embarked on its first rate cut in three years, slashing the cash rate to a historic low of 1.25 per cent. The surprise re-election of the Liberal/National Coalition, which means a retention of the current investor-friendly policy on capital gains tax and negative gearing, is also… Source link

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8 Deep Water Bay Drive sets the record for most expensive apartment in Asia

[Sponsored Article] The beauty of exclusivity and tranquility Cradled by the natural beauty of the rich woodland tapestry of low-density southern Hong Kong island, 8 Deep Water Bay Drive is an ode to tranquillity and privacy.  From within, over 80 per cent of the development is devoted to green space. Its 52 spacious apartments offer a dream home to those seeking space to unwind and enjoy mindful living in a serene environment. It is this uniqueness that enabled the development to set the… Source link

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Vietnam 

Convenience retail channel hits record growth rates – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Customers shop at a convenience store in HCM City. Photo sggp.org.vn HCM CITY — As consumer demand for convenience soars across Southeast Asia, convenience retail channels are experiencing record growth rates and higher rates than any other retail channel, according to a new study by global measurement company, Nielsen. What’s Next for Southeast Asia, which explores the changing FMCG retail landscape and consumer needs, highlights that FMCG sales growth in convenience stores across Southeast Asia reached 8.3 per cent last year. Malaysia saw the strongest growth in the region (up 17 per…

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China 

China business outlook drops to lowest level on record amid US trade war, May’s Caixin PMI report shows

Combined expectations among Chinese manufacturing and service-sector companies for the year ahead – particularly smaller, private-sector firms – dropped to the lowest level on record in May as the escalating US-China trade war eroded firms’ confidence, according the latest Caixin Purchasing Managers’ Index published on Wednesday.The future outlook among manufacturing firms alone weakened to it lowest level since April 2012 when the series began, while service providers remained the least… Source link

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Blackstone buys logistics assets from Singapore’s GLP for record US$18.7 billion

Private equity giant Blackstone has agreed to buy US$18.7 billion worth of assets from Singapore logistics firm GLP in a deal that is touted to be the largest private real-estate transaction ever, and a vote of confidence in the future of online retailing.The transaction will see Blackstone buy assets from three of GLP’s US funds, including 179 million square feet of urban, infill logistics assets, which would nearly double the size of Blackstone’s existing US industrial footprint.Blackstone… Source link

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Vietnam 

Number of new firms soars, making a five-year record – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Number of new firms in the first five months of this year hit record high in five years. — Photo nhadautu.vn HÀ NỘI — About 54,000 new enterprises were registered in the first five months of this year, up 3.2 per cent on-year, also the highest number recorded in the period in the past five years. According to the General Statistics Office (GSO), the newly established firms registered total capital of VNĐ669.7 trillion (US$28.6 billion), an annual increase of 29.6 per cent. Newly registered capital and funds added…

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China’s debt ratio hits record high as efforts to offset US trade war mean ‘there is no such thing as a free lunch’

China’s efforts to offset the affects of the trade war with the United States have resulted in its overall debt level reaching a record high in the first quarter of 2019, with authors of a new study remarking “there is no such thing as a free lunch”.Beijing policymakers scaled back their deleveraging campaign in a bid to help the world’s second largest economy, resulting in a growth rate of 6.4 per cent in the first quarter, the same rate as the fourth quarter last year, confounding analysts’… Source link

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Singapore 

Razer filed a record amount of 53 patents and design applications in Singapore last year, Digital, Singapore News

Time and time again, homegrown tech company Razer has proven itself to be endearing to its legion of loyal fans worldwide, who’d go as far as to tattoo the firm’s iconic logo — or even the face of its charismatic CEO Min-Liang Tan — on themselves.  But the company wouldn’t have arrived where it is now if not for its dedication to innovation. According to a press release, Razer has become the top tech brand with the most patents and design applications filed in Singapore. Last year alone saw Razer Singapore’s…

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China 

China’s electric vehicles sales may increase 27 per cent this year to a record, as their popularity offset slumping demand for cars

Electric vehicles (EVs) are projected to gain popularity with Chinese car owners this year, as new designs with improved performance offset a government cut in price subsidies in the world’s largest vehicle market.Sales of battery-powered and plug-ins that run on hybrid gasoline-electric engines are likely to grow by 27 per cent to a record 1.6 million units in 2019, from last year’s sales of 1.26 EVs, Xinhua News Agency said, citing data by the China Association of Automobile Manufacturers … Source link

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