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Would you wait in line for more than 12 hours to get a red packet from Pony Ma? One Tencent employee did

Those people are not lining up to buy new iPhones, Lady M’s signature mille-crepes cake, or HeyTea’s cheese-topped drink. They are employees of Tencent Holdings waiting outside the internet giant’s headquarters in Shenzhen to receive red packets from company chairman Pony Ma Huateng and other senior management. A long line started forming from Tuesday morning for a chance to get a second of face time with Ma, who in Lunar New Year tradition personally hands out red envelopes containing money to employees as a form of good wishes. The most…

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Singapore 

Motorcyclist sent flying after car beats red light and crashes into him at Bukit Batok, Singapore News

An 18-year-old motorcyclist was taken to hospital after he was involved in an accident with two cars along Bukit Batok West Avenue 5 towards Brickland Road on Monday night (Feb 11). Stomp contributor Jason alerted Stomp to the accident and shared a video he had taken from his car’s dashboard camera. In the video, a car is seen beating the red light before hitting the rider, causing him to fly off his bike and land on the road. Several pieces of debris are seen being flung in all directions as…

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The Chinese tradition of giving red packets gets a digital update, keeping it alive and well

One of the enduring traditions for Chinese communities globally is for adults to give the young red packets containing money during the Lunar New Year as a blessing of good luck and well wishes. Broadly speaking, many Chinese consider marriage as the definition of adulthood, and therefore those who have entered into matrimony earn the right to dispense red-paper packets to those who have not. Bosses also give “lucky money” to subordinates, while in many places, Chinese would give service staff small sums of money, much like how New Yorkers…

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Singapore 

How much ang baos (red packets) should you be giving this Chinese New Year?, Singapore News

As a child, I loved Chinese New Year because the ang baos (red packets) from relatives and my parents’ friends meant that I received a sudden windfall for no reason other than it’s Chinese New Year. Now that I’m married, the tables have turned and it’s my turn to be giving out ang baos! Although red packets are meant to be given as a token of well wishes and blessings, we are often unsure how much to put in red packets. “How much money should I be putting in the…

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‘Father of Red Chips’ Francis Leung urges exchange officials to bolster trading turnover in smaller companies

The “Father of Red Chips” Francis Leung Pak-to has urged the local stock exchange to encourage retail investors to become more active in smaller companies, or face the risk of reputational damage to Hong Kong’s role as a fundraising hub. Leung, chairman of The Chamber of Hong Kong Listed Companies, said attracting more retail investors to trade in the local markets is a must when Hong Kong Exchanges and Clearing is developing its three-year strategy plan. “While Hong Kong has reclaimed the crown as the No 1 IPO market worldwide…

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The Brexit debate is too important to be sidetracked by the red herring of Dyson’s move to Singapore

The announcement a few days ago that Dyson – one of Britain’s leading, innovative and most successful businesses with annual sales of over £4 billion (US$5.25 billion) – was moving its head office from the UK to Singapore, was big news not only in the UK but throughout Asia. Dyson started producing vacuum cleaners in Chippenham in the UK in 1993 before moving to Malmesbury two years later. It invested millions in the site, tripling its UK workforce in the five years up to 2018, with 1,100 employees in Singapore,…

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Singapore 

Chinese New Year hongbao: How much should you put in those red packets in 2019?, Singapore News

Ang Bao or red packets are traditional gifts given among friends and family every Chinese New Year. Chinese tradition favours cash incentives as gifts rather than other material presents. These monetary gifts are packed into red envelopes, with red being the colour of good luck and prosperity. Ang Baos are usually given at family gatherings, and children are particularly excited about receiving them. There are certain do’s and don’ts related to the giving and receiving of Ang Bao so let’s take a look at the common practices. For starters, the…

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Singapore 

Red Dot Power halts electricity retail services amid ‘financial challenges’, Singapore News

SINGAPORE – Red Dot Power has pulled out of the electricity market, saying on Friday (Jan 4) that it had been a “financially challenging period”. The company was part of the initial soft launch for the open electricity market (OEM) in Jurong, signing up around 3,000 customers, including 120 households. When the open market roll-out to other parts of the island began on Nov 1, Red Dot Power decided to not sign up new customers as it evaluated its business. Now, it has decided to exit the OEM, and its…

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Vietnam 

Red tape to be cut nationwide in 2019 – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — 2019 will be a busy year for ministries looking to cut business prerequisites, and firms should contribute to making the process more efficient, said Nguyễn Đình Cung, Director of the Central Institute for Economic Management. With regard to Tuesday’s Government resolution on improving the business environment and national competitiveness for 2019 through 2021, Cung said the involved ministries would have a huge workload. The resolution reflected the Government’s determination to cut red tape for businesses this year with detailed targets and specific…

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China 

How China is finding new ways to use red tape to tie up US firms during the trade war

This story is part of an ongoing series on US-China relations produced jointly by the South China Morning Post and POLITICO, with reporting from Asia and the United States. As the trade tensions escalated between the United States and China earlier this year, American cherry exporters in Washington state unexpectedly found their customs processing slowing at the Chinese border. Increased, and unannounced, inspections started in late May and in early June. The result was that shipments into mainland China became backed up, leading to some cargoes rotting in the docks…

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