The_King

China’s state media are on a mission to talk up the battered stock market and reassure rattled investors after a rout on Monday that erased more than US$570 billion from Chinese stocks listed at home and abroad.The panic sell-off provides an opportunity to “buy on dips” – meaning to invest in stocks that have plummeted in price – as there are no fundamental changes in the onshore market, according to an article published by the Securities Times, which is run by Communist Party mouthpiece the People’s Daily. The Shanghai Securities News, which is owned by the official Xinhua News Agency, ran an article saying there is no systemic risk and that stock valuations are expected to rebound. The Securities Daily cited analysts as saying the turbulence was simply a result of funds rotating in and out of sectors, and reassured readers that the big picture of the economy and liquidity remained intact. Their campaign of reassurance aimed to calm the frayed nerves of the nation’s 189 million stock traders that were caught off guard by Monday’s rout. Concerns have been mounting among investors that Beijing will target more industries after the crackdown against the technology and after-school tutoring sectors, which top policymakers deem to have exerted too much influence on the economy. Overseas investors sold domestic Chinese stocks at the fastest pace in a year on Monday. The soothing gesture failed to curb selling on Tuesday. The Shanghai Composite Index tumbled by 2.5 per cent at the close, breaching its 200-day moving average that marks a dividing line between the bull and bear markets, after a 2.3 per cent decline a day earlier. Hong Kong’s benchmark Hang Seng Index sank 4.2 per cent, extending a 4.1 per cent slump on Monday. Beijing has begun to pay more heed to the quality of growth after successfully leading the economy out of a recession caused by the pandemic. On top of the clampdown on the technology and the private education industries, China has also tightened its oversight of the overheated property market, with Shanghai announcing an increase in mortgage rates for the first time in years last week. “The market expectations are that some segments of the consumer industry, such as medical beauty, will also be in for more regulation that will lead to a change of industry fundamentals,” said Min Liangchao, a strategist at HSBC Jintrust Fund Management in Shanghai. “Besides, the ongoing China-US talks in Tianjin have signalled uncertainty in the relations between the two countries.” State intervention in the stock market is not rare in China, but the results often backfire. The government bought at least 1 trillion yuan (US$154 billion) of stocks in an attempt to arrest the declines in the 2015 market meltdown that wiped out US$5 trillion, only to see share prices fall further. At the height of the trade war with the US in 2018, vice-premier Liu He made a rare call to shore up the market by saying that China’s stocks were attractive investments. Still, the Shanghai Composite fell to a four-year low two months after his comment.

SINGAPORE - Singapore-listed mm2 Asia announced on Wednesday (July 28) that it has received an offer for its Cathay cinema business from local financial investment firm Kingsmead Properties. mm2 Asia operates eight cinemas in Singapore and 13 cinemas in Malaysia, as well as a movie film distribution business. It entered into a non-exclusive binding term sheet with Kingsmead Properties for the proposed sale of at least 80 per cent of the cinema business. Kingsmead Properties is incorporated in Singapore and is in the business of making strategic investments. Ms Jasmine Foo Mei Ling, a Singaporean citizen, is the sole shareholder and director of the company. Ms Foo manages her family business interests and previously worked in several global financial institutions. The acquisition price for the proposed transaction is based on a valuation of between $80 million and $120 million for the entire cinema business under mm Connect, a wholly owned subsidiary of mm2 Asia. Kingsmead will pay a $6 million deposit for the acquisition. The consideration was arrived at on a willing-buyer and willing-seller basis, and takes into account current market conditions, including the impact of Covid-19 restrictions on cinemas, said mm2 Asia. The Catalist-listed entertainment company said discussions are still at the term sheet stage, during which key commercial terms for the translation are set out. A sale will be subject to several conditions, including Kingsmead Properties securing financing for the acquisition and mm2 Asia obtaining approval from shareholders and regulators. mm2 Asia also said other earlier options, including the possible merger and independent spin-off initial public offering (IPO) of its company's cinema business are still ongoing. mm2 Asia had announced last December a tentative bid to merge its cinema business with Golden Village cinemas in Singapore, which is owned by Orange Sky Golden Harvest Entertainment. In the event that the sale to Kingsmead Properties is not completed, the $6 million deposit will be converted to either mm2 Asia shares at eight cents, or IPO shares of mm Connect, which holds the cinema business. mm Connect had obtained approval in principle from the Singapore Exchange to list on Catalist prior to the proposed sale. The move comes at a difficult time for the cinema business due to the Covid-19 outbreak and will provide mm2 Asia with more financial stability, said the company. It will also allow it to pay debt and focus on its core business of movie production and content creation, which continues to grow amid a spike in video-streaming demand, mm2 Asia added. Based on the consideration of approximately $120 million, mm2Asia expects to receive net proceeds of about $119.5 million from the proposed transaction. Founder and executive chairman Melvin Ang said the cinema business has been the company's "most asset-heavy member" and that it had been "looking for ways to optimise its stake in the cinema business". mm2 Asia incurred a net loss of $99 million for the financial year ended March 31, compared with a net profit of $6.3 million the year before. As at end-March, the company’s liabilities exceeded its assets by $119.5 million. These conditions prompted its auditor on July 13 to indicate that “a material uncertainty exists that may cast significant doubt on the company’s ability to continue as a going concern”. mm2 Asia shares rose 0.4 cent, or 6 per cent, to 7.1 cents as of 9.30am on Wednesday, after the announcement. https://www.straitstimes.com/business/companies-markets/mm2-asia-gets-offer-for-cathay-cinema-business-from-kingsmead-properties

Home design new design of me changing from queen to single or super single i like this due to i can see outside at night when using laptop(it NUC but no NUC so i use laptop as display) then sleep on the king size bed, can see outside but even with solar flim, in the day will it be very hot or not, will the afternoon sunlight heat everything up and make everything uplorry faster and will the windows side very hot. i dont know as my home is not facing the western sun i do know my current home (8yr old BTO) is facing western sun. just stand near the windows is hot, even the alum frame also hot this one change to super single bed, computer is away from the windows, so it should solve the heat problem and still can enjoy the view a bit since it some how near the windows, it look like more space and less cutter but this deisgn my desktop will be hard to connect to the projector which mean i will have to find will to link the projector with the pc and sim racing on the projector

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amazon https://www.amazon.com/Thread-Striped-Complete-Bedding-Egyptian/dp/B014BOUW44

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ahahahahahaha on the news already. https://www.facebook.com/lianhewanbao/posts/4215165028552858

A breakfast brand in the United States received backlash online after Twitter users found that its founder claimed to have "improved" and "modernised" congee, a staple dish in many Asian cultures According to TODAY, many people were unhappy to learn that the founder of Breakfast Cure, Karen Taylor, had dubbed herself the "Queen of Congee" and made several remarks across her company's website that implies congee was an exotic, lesser food until she adapted it for the Western palate. Although certain sections have since been edited, numerous screenshots of the Breakfast Cure website have made its way to social media and news portals. In a blog post that was previously entitled 'How I discovered the miracle of congee and improved it', Taylor wrote, "I've spent a lot of time modernising (congee) for the Western pallet (sic) – making a congee that you can eat and find delicious and doesn't seem foreign, but delivers all of the medicinal healing properties of this ancient recipe." Image via Breakfast Cure Taylor wrote she was introduced to congee over 25 years ago while in "Chinese medical school" in New Mexico and has continued to eat it to aid her digestion "When I was in acupuncture school, I had an amazing young brilliant American teacher who taught me about congee... She said, you know, just try it, and I loved it. It was surprising to me how good it felt in my stomach," she said in a video interview on the website. In the same interview, she referred to congee as a "sort of weird thing" that Americans needed to be confident and comfortable making in their own homes. Throughout the website, she also makes medical claims about the "healing effects of this ancient recipe" and includes a link to an article she published in the Pacific College of Oriental Medicine, where the acupuncturist refers to herself as a "physician of Asian medicine". On Breakfast Cure, Taylor sells various flavours of packaged "gourmet, foodie" versions of congee, which she hopes will "become a common household food", because, even though it has been part of Asian cuisine since the start of time, she is on a "new frontier". The congee — made out of various types of rice, berries, fruits, and nuts — costs USD14.95 (RM63) per packet, or USD263 (RM1,110) per month for a 20-pack subscription. Image via @breakfastcure (Instagram) Many Twitter users, mostly Asian, critisised Taylor for calling herself a congee pioneer and accused her of cultural appropriation Some said that while she had heavily-referenced Chinese traditional healing, there was a lack of association to the dish's Asian roots or support for its people. "So, a group of colonisers decided to culturally appropriate congee. Good lord," said a Twitter user, who made a thread of everything she found debatable about the brand. Image via Twitter "Oh God, it's like the mahjong shit all over again," said another netizen. "Why the hell do white people keep taking ordinary Asian stuff and acting like they discovered some ancient mystical secret and selling their own shittier version for five times the price?" Image via Twitter Another Twitter user said, "A white woman really woke up one day and was like 'apple cinnamon oatmeal but make it congee' and charged people USD14.95 for it." Image via Twitter Meanwhile, someone else joked, "Karen, millionth of her name, queen of the congee, coloniser of the five treasures, speaker to the managers, the untouched by the sun, etc." Image via Twitter Following the backlash, Breakfast Cure updated its website with new language and apologised for not honouring the Asian American community "We take full responsibility for any language on our website or in our marketing and have taken immediate steps to remedy that and educate ourselves," the company posted on Instagram. "... Revising our mission to not just creating delicious breakfast meals, but becoming a better ally for the Asian American and Pacific Islander (AAPI) community." It also said they will donate 1% of all sales or 10% of profit, whichever is larger, to AAPI rights group Asian Americans Advancing Justice. Taylor also told TODAY that she was surprised by the response because she had been "embraced by the Chinese medicine community" when she first launched the product. However, she said she and her team will be making more changes, including to their tagline, and are still evaluating the language that had offended people. https://says.com/my/news/karen-apologises-after-claiming-to-improve-modernise-chinese-porridge

SAF Instructor Reminded To Mask Up At Pasir Ris MRT Masks are necessary in our lives these days, as they’re deemed an effective preventive measure that’s easy to implement during the pandemic. However, some may struggle to adhere to this rule every day. And for a certain Singapore Armed Forces (SAF) instructor, he was seen wearing a mask below his chin when commanding his soldiers. The instructor was then told to mask up by a stranger at Pasir Ris MRT. However, the stranger was met with resistance and was allegedly scolded by the instructor. Netizens who saw the Facebook post criticised the instructor’s behaviour and called for action against him. MS News has reached out to the Ministry of Defence (MINDEF) for comment. SAF instructor told to wear a mask properly According to the post shared on the Complaint Singapore Facebook group, the SAF instructor was commanding a platoon of soldiers near Pasir Ris MRT on Monday (26 Jul). The SAF instructor was alleged to have been speaking to his platoon for around 30 minutes with a drink in hand and without a mask over his face. The stranger watching the exchange approached the instructor’s colleague and asked if the instructor could wear his mask as he was setting a bad example for the younger soldiers. Overhearing this, the instructor approached the man and purportedly asked, “Who are you?” The instructor then said if the man was not satisfied, he’d wear the mask and show him. Seeking to de-escalate the situation, the man was about to leave. But not before hearing the instructor allegedly using an expletive involving the man’s mother. Netizens criticise SAF instructor’s actions Netizens have reacted strongly towards the incident. Many criticised the instructor’s actions and conduct in front of his platoon of soldiers. Another user was disappointed to see that someone in a position of authority in SAF setting a poor example for their soldiers. Hopefully, MINDEF takes action No matter the circumstance, reacting to a gentle reminder in such a manner shouldn’t be normalised, especially when Singapore is undergoing a spate of Covid-19 cases. Hopefully, MINDEF will pay special attention to this case and take the correct course of action. It remains imperative that we continue to mask up in public.

https://www.facebook.com/watch?v=537315407613801

https://www.facebook.com/watch?v=1334232680373597