Inspiring ad: The spirit of giving without expecting anything in return

To some viewers, this three-minute video, produced by Thai telecommunications companyTrueMove, can evoke more emotions than a full-length Hollywood movie. According to Gawker, the inspiring ad, which stems from the company’s belief in the spirit of giving without expecting anything in return, has sparked major buzz since it was posted on YouTube just four days ago, on 11 September. It tells a story of how a veggie soup seller gets rewarded for a lifetime of being a good samaritan, especially when he helped a boy, who was caught shoplifting medicine for his sick mother.  The man paid for the boy’s medicine, and even gave him a pack of soup for the mother. He was rewarded 30 years later, when he was struck by what appears to be heart attack. The doctor handling his treatment turned out to be the boy whom he had helped. As a reward, the boy paid for the medical expenses of close to S$30,000. The most moving scene comes at around the second minute of the video when the soup seller’s daughter, who never seemed happy with her father’s generosity, appeared deeply touched by the kind reward. She cried while reading the hospital bill.

Business shifts and RTOs cause concern; “It’s better if the authorities can do adequate due diligence beforehand.”

Business shifts and RTOs cause concern

Friday, Oct 11, 2013

Reuters

Reverse takeovers and shifting business strategies involving firms on Singapore’s stock market have come under the spotlight in the wake of the recent collapse in share prices of three companies listed on South-east Asia’s biggest bourse. One of the companies, Blumont Group, lost as much as $6.2 billion in market value in the past week. Prior to that, it had surged as much as 12-fold this year, making it Singapore’s top performer. The company, which listed in mid-2000, has shifted its focus between investment (most recently in mining companies), property development and sterilised-food and medicine packaging. Read more of this post

“Fee-sucking, evergreen income.” That’s how Bill Michaels describes the financial industry’s reliance on asset allocation.

Updated October 10, 2013, 10:35 a.m. ET

Vonnegut: Wealth Management’s New Dinosaurs

Investors don’t need us to diversify. ETFs are easy to buy, easy to use, and easy to understand

NORB VONNEGUT

“Fee-sucking, evergreen income.” That’s how Bill Michaels describes our industry’s reliance on asset allocation. The problem, he says, is that it doesn’t make money for clients. But here’s what “diwussification”–his play on diversification–does for advisers: It minimizes risk, locks in annuity revenues, and frees them “to go play golf.” Mr. Michaels, now retired, was the kind of risk-loving stockbroker that has all but disappeared from financial services. During the 1990s, through options and a staggering margin balance, he built a 1,150,000-share position in Dell. It paid off big-time. Read more of this post

Shin Je-yoon, chairman of the Financial Services Commission, said “I will make sure Tong Yang Group’s majority shareholders take responsibility for the recent turmoil of the group.”

FSC chief: Major stakeholders are to blame for Tong Yang debacle

Lee Jin-myung, Park Seung-chul

2013.10.10 17:51:18

Shin Je-yoon, chairman of the Financial Services Commission, said “I will make sure Tong Yang Group’s majority shareholders take responsibility for the recent turmoil of the group.” “The consistent principle underlying corporate restructuring has been that majority stakeholders take responsibility and protect innocent victims,” chairman Shin told reporters of Maeil Business Newspaper Thursday. The chief of the regulator added “I am also willing to meet with individual investors who bought commercial paper issued by Tong Yang Group’s subsidiaries.” His comment refers to the nationwide defaults on credit card payments in 2004 and the debacle regarding the LIG Group’s commercial paper, in which majority stakeholders were held accountable. As for some other cash-strapped conglomerates, chairman Shin said “the government executes restructuring in accordance with capitalism and rule of law.” Therefore, “the government cannot determine either to stifle or keep a company that still runs a business beforehand.” He said “corporate restructuring is entirely left to the hands of the market and creditors,” and in this regard, “Tong Yang Group’s fate has been determined by the market.” Prior to his comment, chairman Shin and Choi Soo-hyun, governor of the Financial Supervisory Service (FSS), discussed measures to deal with the embattled Tong Yang Group with Chung Hong-won, prime minister, and Hyun Oh-seok, deputy prime minister and finance minister Tuesday following a meeting of cabinet members. The FSS has decided to thoroughly examine Hyun Jae-hyun, chairman of Tong Yang Group, and his family regarding the insolvency of the Group’s affiliates, and track down his hidden assets, with the help of the investigative authorities when needed.

Tongyang Group probed for stock manipulation; FSS officials said hidden assets of the family will be used to compensate retail investors who sustained a huge loss from the purchase of corporate bonds and bills issued by the group

2013-10-10 17:35

Tongyang Group probed for stock manipulation

By Kim Tae-jong
The financial authorities are now investigating Tongyang Group for alleged stock price manipulation. But it is unknown whether the family that owns the group was also involved in fraudulent stock trading. “The special investigative department is now looking into the alleged stock manipulation case involving Tongyang’s affiliates,” an official from the Financial Supervisory Service (FSS) said. Read more of this post

The Tongyang Group fiasco that flared during the Chuseok holiday last month continues to spiral downward with reports of damage piling up

Market assesses Tongyang fallout

Oct 10,2013

The Tongyang Group fiasco that flared during the Chuseok holiday last month continues to spiral downward with reports of damage piling up. With financial authorities now turning the case over to the prosecutor’s office, the question in the market is how much impact the Tongyang crisis will have on the retail corporate bond market. Some market experts say retail investors will be hesitant to invest in corporate bonds and commercial paper, especially those issued from companies with low credit ratings. As a result, such companies will struggle more to secure capital inflows, which have been dwindling since late last year.

Read more of this post

Secret deal brokered by daughter of ‘Butcher of Tiananmen Square’ for insurance giant Zurich Insurance to break into the Chinese market could come under investigation

Daughter of ‘Butcher of Tiananmen Square’ brokered secret deal for insurance giant

EXCLUSIVE: A secret deal that helped Zurich Insurance break into the Chinese market could come under investigation

Li_Xiaolin_2698776b

Li Xiaolin, who brokered the multi-million pound deal Photo: GETTY IMAGES

By Malcolm Moore, in Beijing and Raf Sanchez in Fairfax County, Virginia

7:05PM BST 10 Oct 2013

A secret multi-million pound deal to carve up China’s insurance market, brokered by the daughter of the country’s former prime minister, has been sent to anti-corruption investigators. The deal guaranteed Zurich Insurance, one of the world’s largest financial institutions, a hugely lucrative stake in a major Chinese insurance company at a time when foreign firms were barred from investing in the sector. The deal, which came to light during a court case in the United States, was cut at the very highest level of the Communist party, by the daughter of the prime minister at the time, Li Peng. Read more of this post

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