What a week of market gloom…

Not a day goes by without some bad news stealing the papers limelight…

A glimmer of hope remains for banks in Singapore, which I’m glad to read in the papers today.

Seems like the 3 of the major banks in Singapore DBS, OUB and OCBC are strong in their credit fundamentals.. something about the CAR ratio are well above the requirement set by local authorities.

Not only that, foreign banks in Singapore also adhere to the strict requirement, if not exceeding it…

In times of market turbulence, that is really a huge relief to be able to sleep soundly knowing the relative stability of banks in Singapore.

Let’s pray for economic growth and full employment rate…

2008 - Melamine Tainted Milk Powder

Victim and Damages:
Till date,

4 Children died, more than 6000 ill.

2007 - Melamine in China Pet Food Exported to US
Victim and Damages:
Thousands of pet fell ill and some died.

2007 - Cardboard For Dumpling Fillilngs

Victim and Damages:
Turned out to be a hoax by television reporter.
He was subsequently jailed

2006 - Cancer Causing Sudan IV Red Dye

Victim and Damages:
Unknow - As the dye was added to duck feed to make the egg yolk appear redder.
Subsequently, the same dye were found in cosmetics and chili powder.

2004 - Fake Milk Power
Victim and Damages:
Babies died of malnutrition.

After the beautiful 2008 Olympic, seems like a flood of crisis is hogging the limelight.

Lets pray for Health, Wealth and Abundance together…

images courtesy of china.org.cn, dailychina.net, china.cn