新加坡派 Singapore Pie 1.0 to 2.0

新加坡派 Singapore Pie 1.0:

新加坡派 Singapore Pie 2.0:

(Margaret Drive…hideaway in a small forgotten corner of the city…reading books in a library with a quiet view of leaves and grass…enjoying a late afternoon tea-time break from the books just two steps away at the oldest surviving food centre, munching on You Char Kway, Ham Chim Peng, Butterfly dough fritters, and washing it down with thick kopi and teh…watching the dust motes rise lazily in the waning golden light of the late afternoon sun…)

This old neighbourhood — made up of crumbling concrete blocks of first generation housing flats, the food centre and an old cinema, all earmarked for demolition+rebuilding and mostly abandoned and empty — was my refuge and haven for a period. Like the crumbling concrete structures themselves, I felt grey and hollow, cracked and empty. I was crumbling away inside, jagged pieces of me broken and chipped away. And without sinews of reinforced steel rebar, rusted or not.

Remember Singapore – Queenstown/Queensway Cinema:

MyQueenstown #6 – Goodbye Hurts! (The Removal of Margaret Drive Hawker Centre Part #1):

永别了!女皇镇!#7 一摊油条传三代:


Shriveled Civil Society

Political Agendas by Proxy

The received wisdom in advanced capitalist societies is that there still exists an organic “civil society sector” in which institutions form autonomously and come together to manifest the interests and will of citizens. The fable has it that the boundaries of this sector are respected by actors from government and the “private sector,” leaving a safe space for NGOs and nonprofits to advocate for things like human rights, free speech, and accountable government.

This sounds like a great idea. But if it was ever true, it has not been for decades. Since at least the 1970s, authentic actors like unions and churches have folded under a sustained assault by free-market statism, transforming “civil society” into a buyer’s market for political factions and corporate interests looking to exert influence at arm’s length. The last forty years has seen a huge proliferation of think tanks and political NGOs whose purpose, beneath all the verbiage, is to execute political agendas by proxy.

Secrets and career moves

My sister really can keep secrets. And make the right career moves.

No wonder she was flying between their regional offices frantically the last few weeks. While messaging and updating her on father’s latest condition after his third fall in two weeks, I was surprised to learn that she was in Vietnam one day, and the Philippines the next.

And there I was still wondering whether she had been wise to join a start-up, quite a departure from the usual pedigreed companies and company she seeks.

Alibaba Expands in Southeast Asia With $1 Billion Lazada Deal

  • Control of Lazada adds operations in 6 Southeast Asian markets
  • Alibaba buying stock from Rocket Internet, Tesco, Kinnevik

Alibaba Group Holding Ltd. is making its largest overseas investment with a $1 billion deal for control of Lazada Group SA, taking the Chinese e-commerce giant to Southeast Asia and closer to a goal of shedding its home-market reliance.

China’s largest online emporium will pay $500 million for new shares in the closely held company and purchase an equal amount from existing investors, Alibaba said in a statement. Investors selling include Germany’s Rocket Internet SE, British supermarket chain Tesco Plc and Investment AB Kinnevik.

The Chinese company is buying its way into a region on the cusp of an online shopping boom, as fast-growing mobile and Internet usage propels consumer spending. Billionaire Alibaba Chairman Jack Ma has set a goal of getting at least half the company’s revenue from overseas, with the Lazada deal adding sales of clothing and electronics in six Southeast Asian markets.


Buying Its Way In

Founded in 2012 by Rocket, Lazada operates in Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam. Indonesia, where it competes with Tokopedia and MatahariMall, is Southeast Asia’s largest economy with 256 million people.

Alibaba will be wading into a market where no single player yet dominates. While Southeast Asia’s growing affluence is expected to fuel growth in online shopping, many countries in the region still lack the transport and payments infrastructure so crucial to the widespread adoption of e-commerce.

“Overseas expansion requires a lot of investment in logistics, it would take Alibaba much longer to build the business from the ground up,” said Li Yujie, an analyst with RHB Research Institute Sdn in Hong Kong. “What Alibaba could do is integrate the businesses and introduce more existing merchants to Lazada to export their products overseas.”

The deal also includes options to buy out certain Lazada shareholders in a 12 to 18 month period after the deal closes, it said. Credit Suisse Group AG advised Alibaba and Goldman Sachs Group Inc. was financial adviser to Lazada.



Rocket Internet SE Sells 9.1% Stake in Lazada for USD 137 million

Corporate News: Rocket Internet SE / Key word(s): Disposal
Rocket Internet SE Sells 9.1% Stake in Lazada for USD 137 million

12.04.2016 / 07:59
Dissemination of a Corporate News.
The issuer is solely responsible for the content of this announcement.


Rocket Internet SE: Quasi Ad hoc Announcement pursuant to Sec. 19 para. 1 lit.
c) of the General Terms and Conditions of Deutsche Börse AG for the Regulated
Unofficial Market (Freiverkehr) on Frankfurter Wertpapierbörse

Rocket Internet SE Sells 9.1% Stake in Lazada for USD 137 million

Berlin, Germany, April 12, 2016 – The Management Board of Rocket Internet SE
(“Rocket Internet” or the “Company”) (ISIN DE000A161KH4) decided, to sell 44 %
of its shares (9.1% on a fully diluted basis) in Lazada Group S.A. (“Lazada”)
for a cash consideration of USD 137 million to Alibaba Group Holding Limited
(“Alibaba”). In addition Lazada secured USD 500 million in new funds from
Alibaba at a USD 1.5 billion equity valuation. Alibaba will become the
controlling shareholder of Lazada. As part of the transaction, Rocket Internet
SE has also entered into a put-call agreement with Alibaba, giving Alibaba the
right to purchase, and Rocket Internet the right to sell the remaining fully
diluted shareholding in Lazada of 8.8%, between 12 and 18 month after the
closing of the transaction at fair market value.


Contact Rocket Internet

But some other “secrets” or arrangements she can keep to herself and the old man, or go fly a kite with it or whatever. I’m not interested. He has always doted on her and she has always been his favourite anyway. I will just carry on and do what I have to do. It has never been about him, or doing it for him, or for her/her family/her children. I am doing all this only for Mum.

Okay, maybe I’m doing it for her kids. My nephew and niece are really cute.

孟庭葦. 無聲的雨.手語.看雨

My favourite female Mandarin singer in secondary school. Had previously prepared many series of video montages of her songs in the draft folder, of rain and the seas, of clouds and the moon, but just never posted them. Too precious, couldn’t bear to share.

Not exactly the right season for these songs right now, but ah well…

孟庭葦 無聲的雨:


孟庭葦 手語:

And of course, her more famous rain song, still as a fresh-faced and petite girl with short-cropped hair, and a kooky and bookish/artistic je ne sais quoi…

孟庭葦 冬季到台北來看雨:


…and her later, more mature, and long-haired revisit of the same song. Which adds a poignant layering and brings out the wistful lyrics even better.

孟庭葦 冬季到台北來看雨 II:

Sigh. Nice.

Virtu Financial Expects to Have Among Biggest, Most Profitable Days in Its History Amid Market Rout

Virtu Financial Inc., one of the world’s largest high-frequency trading firms, was on track to have one of its biggest and most profitable days in history Monday amid a tumultuous 24 hours for world markets, according to its chief executive.

“Our firm is made for this kind of market,” said the CEO, Douglas Cifu.

Virtu and other such trading firms, along with exchanges, emerged as early beneficiaries of the heightened volatility and volume caused by investor unease over China’s economy and a growing belief that the U.S. Federal Reserve might not raise interest rates at its meeting next month.

The U.S. stock market fell sharply in early trading, but regained most of its losses over the morning. The Dow Jones Industrial Average was down 3.9% to 15,815.49 points as of about 3:30 p.m. EDT.

“These are the kinds of days that everyone here is working for,” said Brian Donnelly, CEO and founder of the options-focused firm Volant Trading. “It’s probably our best day since” the 2010 flash crash, when markets fell sharply before recovering quickly.

Firms that make markets–meaning they simultaneously offer to buy and sell stocks, bonds, currencies or futures with the hope of collecting the difference between those prices–often perform especially well in choppy market conditions.

Such firms have been controversial among some investors and investigated by regulators because of a perception that they have an unfair advantage over other investors. High-frequency trading firms vary in their approach, but they usually rely on high-speed data connections and use algorithms to trade automatically using their own capital. They have grown in the past decade to be a major force in trading exchange-traded securities and derivatives around the world.

Executives from high-frequency trading firms have argued they provide liquidity to investors and have made trading cheaper by reducing the spreads between bids and offers across the markets.

“The very best conditions for [high-frequency trading firms] is when markets are going up and down with high volume,” said Rich Repetto, an analyst at Sandler O’Neill + Partners, L.P.

Exchanges would also benefit from the increased trading, he said. CBOE Holdings Inc. was especially well positioned because it is the only venue where investors can buy and sell the Chicago Board Options Exchange Volatility Index, or VIX, which was up more than 20% to 33.77 midafternoon.

At Virtu, Mr. Cifu started taking calls about big trading in Asia on Sunday afternoon. After going to bed at 1 a.m., he woke at 4:30 a.m. to prepare for what was promising to be a major day in Europe and the U.S. Virtu is purely focused on market making and trades on more than 200 markets around the world, including most recently on China’s commodity market.

As of Monday the firm was on track to trade in the high hundreds of millions of shares and millions of futures contracts around the world, Mr. Cifu said. It bought and sold securities and derivatives from Shanghai to Chicago.

Some high-frequency trading firms fine-tuned their algorithms Monday to handle the flood of trading and stood ready to buy from an onslaught of sellers. The other large high-frequency trading firms include Jump Trading LLC, Hudson River Trading LLC, Quantlab Financial LLC, Tower Research LLC, and Global Trading Systems Inc.

“We were catching those falling knives,” said Ari Rubenstein, co-founder of Global Trading Systems.



“Black Monday” Brings Global Market Rout [24th August 2015]

It started in China…
[SSE-CSI300-Shenzhen — SSE -8.5% CSI300 -8.8%]



Continued in Europe…



And then catastrophied in The US…



The crash in stocks at the open appeared as much driven by a collapse in USDJPY – JPY carry unwinds – which ripped back and lifted stocks…



Cash indices ripped back off the lows and Nasdaq ‘touched’ unchanged on the back of AAPL… before it all fell apart again…