Hugh Young News
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Asian stocks retreated from the highest level since June 2008 as Australian banks dropped and Industrial & Commercial Bank of China Ltd. fell after Goldman Sachs Group Inc. sold a $1.1 billion stake.
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Hugh Young, who helps manage $70 billion in Asian equities as Singapore-based managing director of Aberdeen Asset Management Asia Ltd., comments on Oversea- Chinese Banking Corp.’s announcement that Chief Executive Officer David Conner will retire in April after a decade running the city’s second-largest lender.
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Thailand’s stocks are relatively cheap with potential to climb as the political crisis that prompted the biggest selloff in five months will probably be resolved peacefully, the top Thai fund manager said.
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Thailand’s earnings growth may help stocks withstand a renewal of political turmoil after a bomb attack in the capital over the weekend, said Aberdeen Asset Management Plc, which runs the best-performing Thai equity fund.
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Oversea-Chinese Banking Corp. named Samuel Tsien as chief executive officer to replace David Conner, who will retire in April after a decade running what is now Singapore’s second-largest lender.
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Wilmar International Ltd., the worst performing stock on Singapore’s Straits Times Index in 2012, may extend its slide this year as investors favor agricultural companies that rely less on trading.
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Holcim Ltd., the world’s largest cement maker, and Unilever are seeking higher royalty from their units in emerging markets as business slows at home, spurring protests by minority investors.
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Former Thai General Lertrat Ratanavanich remembers his regular meetings with Myanmar junta leader Than Shwe, who ran the country for 19 years. Like the time the dictator asked for some penguins.
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Ask David Conner, chief executive officer of Singapore’s Oversea-Chinese Banking Corp., what makes a world-class bank and he smiles and tells the story of how he was hired. It was April 2002, and Singapore’s banks faced a struggling economy, poor demand for credit and rising competition from foreign lenders that had just won greater access to the Singaporean market.
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Sky City Church is the perfect spot for billionaire Thomas Kwok to contemplate his two passions: religion and the family property empire.
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