Singapore

Siam Cement leads SE Asian firms eyeing Oct IPOs
Asia, Business, Singapore, World

Siam Cement leads SE Asian firms eyeing Oct IPOs

Siam Cement leads SE Asian firms eyeing Oct IPOs SINGAPORE/HONG KONG: Siam Cement Group Packaging's initial public offering (IPO) is looking to raise 50% more than a previously targeted $1 billion, boosted by higher valuations, sources with knowledge of the matter said. The firm joins other companies in Malaysia and Philippines preparing to list next month, signalling a revival in investor interest in Southeast Asia's underperforming markets. The sources said cash-rich funds and investors were keen to allocate money to sectors viewed as long-term beneficiaries in pandemic-hit markets. They said Siam Cement Group Packaging was looking to line up cornerstone investors for its IPO, which is now likely to raise $1.5 billion, up from an estimated $1 billion when the company announced plans ...
Come see visions of a utopia
Singapore, World

Come see visions of a utopia

Prominent painter Kitti Narod is inviting all to visit his own utopia at the solo exhibition, "Joy Land", curated by Guo Weiwei, at Tang Contemporary Art Bangkok. Reading by Kitti Narod. Kitti, who graduated from the Faculty of Fine and Applied Arts at Rajamonkong Institute of Technology, is renowned for his sense of joy and optimism through illustrations of daily life and human connections. His works have gained international recognition and have been exhibited in many countries including Singapore, UK, Canada and Australia. His latest exhibition "Joy Land" presents his ideal vision of a utopia where "everyone has equal opportunities". As a member of the LGBTI community, Kitti also reveals this part of his identity in the content of his paintings. Moreover, his partner Gwyn Faemol als...
Japan stocks fall after economy contracts, other markets up
Singapore, World

Japan stocks fall after economy contracts, other markets up

BEIJING - Japanese stocks sank while other global markets and U.S. futures gained Monday after Japan reported a record economic contraction amid the coronavirus pandemic. The Nikkei 225 in Tokyo fell 0.8% to 23,096.75 after data showed the world’s third-largest economy shrank 27.8% from a year earlier in the three months ending in June. That was bigger than the deepest decline during 2008-09 financial crisis. “The road ahead looks choppy as a resurgence in Covid cases will weigh on domestic and overseas spending,” said Stefan Angrick of Oxford Economics in a report. In early trading, the FTSE 100 in London gained 0.1% to 6,097.97. The DAX in Frankfurt was up 0.1% at 12,913.62 and France’s CAC 40 added less than 0.1% to 4,964.88. On Wall Street, futures for the benchmark S&P 500 Index a
DES: Facebook won’t take legal action
Singapore, World

DES: Facebook won’t take legal action

DES: Facebook won't take legal action Minister of Digital Economy and Society Buddhipongse Punnakanta speaking at a press conference on Wednesday about illicit content of Facebook. (Photo by Varuth Hirunyatheb) Minister of Digital Economy and Society (DES) Buddhipongse Punnakanta on Wednesday said he does not believe Facebook will take legal action against the government and the DES Ministry in relation to past legal requests since the platform has cooperated well with previous requests. Mr Buddhipongse was speaking at a press conference at the DES Ministry to counter Facebook's legal threat to sue the government for blocking access to accounts deemed defamatory to the monarchy. The minister referred to the Royalist Marketplace page on Facebook operated by Pavin Chachavalpongpun that c...
Harnessing the potential of diversity for business
Business, Singapore, World

Harnessing the potential of diversity for business

It is hard to think of a time in history when businesses globally have had to adapt and restructure as rapidly as they have during the current pandemic. The closest comparable period may be post-World War II, when thousands of soldiers and civilians living with long term injuries were trying, and failing, to access work. At that time, many countries introduced quota systems which required businesses to employ a certain proportion of people with disabilities. Now we once again stand at a crossroads in terms of building a more diverse workforce. How will countries reinvent themselves to ensure nobody is excluded from accessing work? Could businesses take up the mantle, when they are already facilitating huge changes? How can they introduce a more inclusive approach to employment? If we a...
FB told to apologise for ‘mistranslation’
Singapore, World

FB told to apologise for ‘mistranslation’

FB told to apologise for 'mistranslation' Buddhipongse: Little cooperation The Digital Economy and Society (DES) Ministry has sent an urgent letter to Facebook in Singapore and Thailand, demanding the social media giant take responsibility over a mistranslated headline from English into Thai about the live broadcasting ceremony to celebrate the King's birthday seen on several media Facebook pages on Tuesday. Meanwhile, the Technology Crime Suppression Division (TCSD) has started the process of collecting evidence for an investigation into the matter following a complaint made by Thai PBS TV station on Wednesday. Thai PBS came under fire from viewers who spotted the mistranslated message on its Facebook page. The mistranslation which offended the monarchy was from the English: "[Live] ...
Navy on defensive over sub plan
Politics, Singapore, World

Navy on defensive over sub plan

Royal Thai Navy top brass hold a press briefing at the force's headquarters in Bangkok on Monday to defend the purchase of two more submarines worth a massive 22.5 billion baht from China. Apichit Jinakul The Royal Thai Navy has defended its planned procurement of two more submarines worth a massive 22.5 billion baht from China, and accused the Pheu Thai Party of exploiting the issue for political gain. The government and navy are under fire after a House subcommittee last Friday approved the purchase. The public outcry over the submarine procurement forced the navy to hold a media conference on Monday. The topic #PeopleSayNoToSubs (in Thai) has been among the top hashtags since the budget got the nod from the subcommittee. During Monday's press briefing at the navy headquarters in Ban...
Singapore to allow general travel to Brunei, New Zealand; travellers to take heed of border measures in these countries
Business, Singapore, World

Singapore to allow general travel to Brunei, New Zealand; travellers to take heed of border measures in these countries

SINGAPORE - Singapore will allow general travel to Brunei and New Zealand, as well as for students studying overseas from Sept 1. However, those intending to visit Brunei and New Zealand are advised to check the entry requirements imposed by these countries, and take the necessary precautionary measures, the multi-ministry task force tackling Covid-19 said on Friday (Aug 21). Students studying overseas at institutions where distance-learning is not offered as an option by the school will also be allowed to travel, said Education Minister Lawrence Wong. Singapore is also relaxing its border controls, so that visitors from Brunei or New Zealand, who have remained in the country in the last consecutive 14 days prior to their visit to Singapore, will not have to serve a stay-home notice whe...
Beyond exceptional
Business, Singapore, World

Beyond exceptional

Piaget's latest flights of fancy are inspired by the tropics and overseen by Asiaphile Christophe Bourrié Christophe Bourrié had long been interested in luxury watches and jewellery as he did a thesis on this industry for a master's degree in corporate finance at Paris Dauphine University. The white gold Secret Cenote cuff watch is set with diamonds and sapphires that echo the blues and greens of tropical vegetation. Last summer, he eventually landed in the business at Piaget, where he's a member of its executive committee and global director for high-jewellery and exceptional creations. Bourrié's previous experiences included working for his family's wine company and private banking. He's actually very familiar with the Asian market since he was based in China, Singapore and Hong Kong
Asia Today: Philippine capital’s virus lockdown to be eased
Asia, Singapore, World

Asia Today: Philippine capital’s virus lockdown to be eased

MANILA, Philippines - Philippine President Rodrigo Duterte has decided to ease a mild coronavirus lockdown in the capital and four outlying provinces to further reopen the country’s battered economy despite having the most reported infections in Southeast Asia. Most businesses, including shopping malls and dine-in restaurants, and church services will be allowed to partially resume on Wednesday with masks and social distancing required. Duterte shifted metropolitan Manila and the nearby provinces of Bulacan, Cavite, Laguna and Rizal, a region of about 25 million people, back to a mild lockdown two weeks ago after groups of doctors warned that hospitals were being overwhelmed again by COVID-19 patients and pleaded for a “time out.” The Philippines has reported more than 164,000 cases, in