Thailand’s Rural Boom Yields Mercedes and $6,000 Jacuzzis

Thailand’s Rural Boom Yields Mercedes and $6,000 Jacuzzis

When Tos Chirathivat and his billionaire family make acquisitions for their Thailand-based retail, property and hotel empire, they often do it in style. Seeking additional prime space in Bangkok’s congested downtown in 2006, Tos’s Central Group bought 1.4 hectares (3.5 acres) of the British ambassador’s front lawn, which it’s now transforming into a curvaceous luxury shopping mall in the shape of an infinity symbol, Bloomberg Markets magazine will report in its December issue. Read more of this post

China Property Firms See New Market in Old Age Homes

October 28, 2013, 3:20 PM

China Property Firms See New Market in Old Age Homes

China’s property sector has been a reliable money-spinner even in the face of a nearly four-year government campaign to hold the line on speculation. But at least some property firms are starting to hedge their bets, taking a look at fresh opportunities from China’s aging population. A number of companies that have a lengthy track record in real estate are looking to turn their hand at property management with a twist – managing facilities that care for the elderly. Read more of this post

Local tastes tempt China diners away from Golden Arches

Local tastes tempt China diners away from Golden Arches

Mon, Oct 28 2013

By Adam Jourdan

SHANGHAI (Reuters) – Bearing rice burgers and lotus roots, an army of Chinese fast food firms is cooking up a challenge to McDonald’s Corp and Yum Brands Inc, tempting cost-conscious diners with healthy, homegrown fare and causing a drag on growth for the U.S. chains in the country’s $174 billion fast food market. McDonald’s said last week it was thinking of slowing expansion in China as diners are tempted by local rivals. KFC-parent Yum warned this month economic weakness in China would drag on a recovery in sales dented by a food safety scare at the end of last year. Read more of this post

Hopes of Market Reforms in China Tempered by Political Realities

OCTOBER 28, 2013, 4:10 AM

Hopes of Market Reforms in China Tempered by Political Realities

By CHRIS BUCKLEY

China’s leaders head toward a major policy-setting conference next month bearing heady expectations that they have encouraged, and a proposal from a prominent government research organization has magnified speculation that they will embrace bold pro-market overhauls. The grinding realities of politics, however, are likely to force proponents of such overhauls to settle for more modest changes, experts said. Read more of this post

Climbing the Value Chain Won’t Be Cheap for the World’s Most Profitable Car Maker

Crack in the Great Wall of Profits

Climbing the Value Chain Won’t Be Cheap for the World’s Most Profitable Car Maker

ABHEEK BHATTACHARYA

Oct. 28, 2013 5:46 a.m. ET

The world’s most profitable car maker may not wear its crown forever. Great Wall Motor, GWLLY -4.22% one of China’s largest SUV makers, sports higher operating margins than even ultraluxury players such as Ferrari. It has achieved this partly because utility vehicles, which fetch higher profits, make up a bigger proportion of its sales than of the average car maker’s. Great Wall has kept costs to a minimum. Research and development spending came to just 2.2% of sales in 2012, the lowest among major Chinese car makers, according to Goldman Sachs. Its global peers typically spend 4% to 5% of their sales on R&D. Read more of this post

China Stocks Drop to 7-Week Low as PBOC Fails to Cut Money Rates

China Stocks Drop to 7-Week Low as PBOC Fails to Cut Money Rates

Chinese stocks fell, dragging the benchmark gauge to the lowest level in seven weeks, as small companies plunged and the central bank’s first cash injection in two weeks failed to reduce money-market rates. Tsinghua Tongfang Co., a maker of personal computers, tumbled 6.5 percent to lead losses among technology companies. The ChiNext index of Shenzhen-listed companies sank 4.7 percent, the most since June 24. The fixing on the seven-day money-market rate rose seven basis points to 5 percent. A gauge of financial shares pared its rally to 1.3 percent after gaining 3.6 percent. Read more of this post

Curbing speculationm Singapore seeks to regulate new power futures market

Updated: Tuesday October 29, 2013 MYT 7:34:27 AM

Curbing speculation Singapore seeks to regulate new power futures market

SINGAPORE: Singapore will seek to regulate electricity trading to prevent speculation as Asia’s oil hub prepares to open the region’s first power futures market. Singapore Exchange will begin a trial for the contracts in 2014 and intends to start trading by the end of next year, S. Iswaran, the second minister for trade and industry, said in a speech during Singapore International Energy Week yesterday. Six power generation companies had said they were interested in the market, including Keppel Merlimau Cogen Pte, Sembcorp Cogen Pte, Senoko Energy Pte,Tuas Power Generation Pte, Tuaspring Pte and YTL PowerSeraya Pte, he said. Read more of this post

Japanese Traders to Start Myanmar Economic Zone Within Two Years

Japanese Traders to Start Myanmar Economic Zone Within Two Years

Three of Japan’s biggest trading houses agreed to form a venture with Myanmar that will build an industrial hub in the Southeast nation within two years, aiming to export electronics parts and clothes across Asia. Mitsubishi Corp. (8058), Sumitomo Corp. (8053) and Marubeni Corp. (8002) will own 49 percent and Myanmar’s government and local enterprises the rest in the venture near the commercial capital of Yangon, the companies said today in a joint statement. The partners may spend about 17 billion yen ($174 million) on power, water and transport infrastructure at the site. Read more of this post

Malaysia to build Asia’s Canary Wharf

October 28, 2013 7:30 am

Malaysia to build Asia’s Canary Wharf

By Jeremy Grant in Singapore

Malaysia is pushing ahead with a bid to join the ranks of the world’s financial centres, inviting bids from developers and investors to build a vast business district in the capital that it hopes will become Asia’s version of Canary Wharf in London. But even as Kuala Lumpur – Asia’s largest centre for Islamic finance, but with a stock market that is far smaller than its tiny neighbour Singapore – moves closer to making its ambitions reality, analysts are warning that the project risks becoming a burden on the government’s fragile finances. Read more of this post

Malaysia Leapfrogs Into Top 10 of World Bank Doing Business Rank

Malaysia Leapfrogs Into Top 10 of World Bank Doing Business Rank

Malaysia advanced for the first time into a top 10 ranking of nations the World Bank deems friendliest to businesses as Singapore (SGDPQOQ) led the annual competitiveness scorecard for an eighth straight year. Malaysia vaulted to sixth from 12th a year ago after easing procedures for registering a company, applying for a construction permit and getting electricity, the bank said in its 2014 “Doing Business” report. Rounding out the top five after Singapore were Hong Kong, New Zealand, the U.S. and Denmark, unchanged from a year ago. China slid five spots to 96th, while the U.K. dropped to 10th from seventh. Read more of this post

It’s not the Govt’s money: We should be more cautious the next time someone in a Malaysian state or Federal Government says ‘I have a plan’.

Updated: Tuesday October 29, 2013 MYT 6:56:32 AM

It’s not the Govt’s money

BY WAN SAIFUL WAN JAN

We should be more cautious the next time someone in a state or Federal Government says ‘I have a plan’.

ONE Friday afternoon, a man comes to your house. You don’t know him very well. Just someone you sometimes bump into when you go out. He tells you that he has big plans but, the weird thing is, this stranger demands that you give him your money so that he can spend it on his plans. He tells you what he has done in the past and what he now has in mind. He has staff to pay to run all his “initiatives” so a big chunk will go to people who work for him. He wants to build a grand building. He also has a lot of travel plans. And, since he overspent for many years, some of your money will be used to pay his debt. He insists you give him your money or you will get into trouble. Under normal circumstances, most people would slam the door shut for fear of being robbed. Now let’s change the scenario a little bit. The man is the Government. No one personally came into your house. Instead, you watched the Finance Minister make an announcement in your living room via television. Read more of this post

Fund manager Tan Teng Boo, dubbed Maalysia’s Warren Buffett, says country’s progress to advanced status hindered

Updated: Tuesday October 29, 2013 MYT 8:54:08 AM

Fund manager says country’s progress to advanced status hindered

BY YVONNE TAN

Tan:‘Services is a sector where sustained productivity is extremely difficult to achieve.’

KUALA LUMPUR: The decline in manufacturing activities is hindering Malaysia’s progress in becoming a developed nation, says a well-known fund manager. “For us to reach developed-economy status, manufacturing must be emphasised and we are not doing that,” said Tan Teng Boo, managing director of Capital Dynamics Asset Management Sdn Bhd and fund manager of icapital.biz Bhd. Capital Dynamics manages icapital.biz, the only close-end fund listed on the Main Market of Bursa Malaysia. Read more of this post