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Chen Show Mao at Workers' Party's first rally 28 April 2011
- Thread starter Unrepented
- Start date
Hope he speaks Mandarin or a dialect soon. This does not seem to be evoking any emotional response.
This is blasphemy but this Chen Show Mao is probably more intelligent than Lee Kuan Yew. Definitely smarter than Lee Hsien Loong.
Whether you agree with Lee Kuan Yew's policies or not, you have to acknowledge the LKY has brains. But watching Chen Show Mao speak and answer questions and seeing his credentials, LKY may have met this match.
Chen Show Mao also has the advantage of being fluent in Chinese and being steeped in the Chinese culture -- something which LKY lacks -- which actually makes it hard for LKY to attract votes for being well-liked because he cannot ready connect with the Chinese-educated and Cheena types --- LKY had to rule by fear. Don't vote for PAP, the economy will collapse. In politics, it is important to be well-liked.
Watch how Chen answers questions and you will notice the Chinese-ness in him - the humility for example. Something which Low Tia Kiang also possesses.
Whether you agree with Lee Kuan Yew's policies or not, you have to acknowledge the LKY has brains. But watching Chen Show Mao speak and answer questions and seeing his credentials, LKY may have met this match.
Chen Show Mao also has the advantage of being fluent in Chinese and being steeped in the Chinese culture -- something which LKY lacks -- which actually makes it hard for LKY to attract votes for being well-liked because he cannot ready connect with the Chinese-educated and Cheena types --- LKY had to rule by fear. Don't vote for PAP, the economy will collapse. In politics, it is important to be well-liked.
Watch how Chen answers questions and you will notice the Chinese-ness in him - the humility for example. Something which Low Tia Kiang also possesses.
You are right.
He shld speak a little faster as I was falling asleep. Most people have a short attention span, so he shld adjust his cadence accordingly.
He shld speak a little faster as I was falling asleep. Most people have a short attention span, so he shld adjust his cadence accordingly.
The most important strength for CSM is the business clout he might bring to opposition politics. If this guy steps into parliament, more successful professionals will join in the opposition cause (for the same networking reasons business people join Pap).
Talking of humility, I have only heard one new PAP lady candidate saying, "..give me a chance to serve you" instead of the usual "we have delivered... blah blah..". They don't seems to understand the importance of balancing confidence with humility.
Yes, one thing that impressed about CSM is his humility. Chinese businessman and philanthropist Tan Kah Kee also took the public transport to and from work.
I spoke to some of his ex-schoolmates who told me that CSM does not always connect well with big crowds. But if his speeches were short enough, his intellect looms large over his audience. And they all agree it is a very large intellect.
Don't think LKY is extraordinarily intelligent.
What he has are street smarts/savvy and the ability to read peoples' fears and desires and manipulate them accordingly.
He possesses a slightly cheeky, hokkien call it "KL" attitude that I like.
Our opposition candidates in the past have been either too straight laced or too confronatational.
Yes, one thing that impressed about CSM is his humility. Chinese businessman and philanthropist Tan Kah Kee also took the public transport to and from work.
Very impress Our transport minister dont even take public transport. The ministers only said world class public transport but never never use it. KNN public transport minister.
He does speak too slowly. Is he recovering from a stroke?
From The American Lawyer: Dealmakers of the Year
Irene Plagianos, Drew Combs, D.M. Levine, and Ross Todd All Articles
The Asian Lawyer
April 11, 2011
Show-Mao Chen
Photo: Paul Godwin
This month The American Lawyer announced its picks for Dealmakers of the Year--the lawyers who worked on the biggest and most significant deals of 2010. Four of the 15 transactions spotlighted involved Asian companies--no surprise to anyone who's been watching dealflows recently.
From the massive Chinese IPOs by American International Assurance and Agricultural Bank to Zhejiang Geely's purchase of Volvo Car Corporation to the biggest project financing in history, each of these transactions showcases Asia's growing economic power and the bigger roles for lawyers there. Here's the inside story of those deals.
DEAL IN BRIEF: AgBank IPO
Dealmaker: Show-Mao Chen, Davis Polk & Wardwell
Value: $22.1 Billion
Firm's Role: Issuer's Counsel
For a business with something of a dowdy reputation, Agricultural Bank of China Limited--that nation's third-largest lender--had some big ambitions when it decided to go public last year. It wanted to raise a lot of money, perhaps a record amount, despite the global economic crisis. It wanted to move quickly. And--perhaps trickiest of all--it wanted a dual listing, on both the Shanghai Stock Exchange, which trades only in China, and the Hong Kong Stock Exchange, which trades internationally.
To pull it off, the bank, known colloquially as AgBank, turned to a lawyer with plenty of experience with dual listings--Davis Polk & Wardwell's Show-Mao Chen. Four years earlier, Chen, who is based in Beijing, led a Davis Polk team that advised China's biggest bank, Industrial and Commercial Bank of China Limited (ICBC), in its initial public offering. That IPO raised $19 billion, making it the world's largest at the time; it was also the first entity to list shares in Shanghai and Hong Kong.
Dual listings are difficult because each exchange has different sets of regulatory requirements related to disclosure, timing, and underwriting practices. These issues can become especially complicated in a large offering.
So Chen and his team began working under what he calls some of "the most challenging circumstances I have seen" so AgBank's IPO could launch in both markets. By April 2010, the bank had lined up ten lead underwriters, a record number--four for Shanghai and six for Hong Kong. It would fall to the Davis Polk lawyers to manage the various opinions of the underwriters and smoothly incorporate them into the prospectus.
Time constraints increased the pressure. There was talk about other Chinese banks that wanted to go public in 2010, and AgBank wanted to ensure that it would be the first in line. The bank wanted to get the IPO to market by July, giving Chen just a three-month window. "Three months is just about the shortest time to market I've seen for an IPO of this kind," he says. "And it certainly felt like it was done in record time."
Chen had teams of lawyers camped out in Davis Polk's Beijing office to keep up with the demanding pace. Meetings were conducted in both En_glish and Chinese, and all of the documents were drafted in both languages, often doubling the lawyers' work.
Antony Dapiran, a former Freshfields Bruck_haus Deringer partner who worked as AgBank's Hong Kong counsel on the IPO, credits Chen with shepherding a "very complex IPO, done on a very compressed timetable, while managing the many parties involved." (Dapiran left Freshfields after the IPO and is now a partner at Davis Polk.)
Finally, there was the hipness factor: AgBank didn't have much. Because it specializes in agricultural loans, which usually have lower profit margins than other sorts of loans, AgBank had long been called the ugly sister of Chinese state banks, Chen says. That meant that the key to pulling off the IPO was emphasizing the bank's potential for growth. (Chen calls it the "glass half-full" view of the bank.) While its loan margins were small, for example, AgBank had the largest network of banks in China, most of them outside the country's largest cities. So in the prospectus, Chen highlighted the "substantial potential for economic growth" in these rural areas. "We were able to sharpen the focus of the bank's disclosure for investors," he says. "That was crucial."
Their work paid off. When the IPO went to market, it raised $22 billion, a record amount that surpassed the sum raised by ICBC four years earlier. Because the IPO had been priced in China, not overseas, as is more customary, "in a way, this IPO was like a coming-out party for China," Chen says. "It feels like China has really arrived on the international market."
AgBank's record stood for only a few months, until November, when the American IPO that relaunched General Motors Company raised $23 billion. But on July 6, at least, the ugly sister was finally the star of the show.
Irene Plagianos, Drew Combs, D.M. Levine, and Ross Todd All Articles
The Asian Lawyer
April 11, 2011
Photo: Paul Godwin
This month The American Lawyer announced its picks for Dealmakers of the Year--the lawyers who worked on the biggest and most significant deals of 2010. Four of the 15 transactions spotlighted involved Asian companies--no surprise to anyone who's been watching dealflows recently.
From the massive Chinese IPOs by American International Assurance and Agricultural Bank to Zhejiang Geely's purchase of Volvo Car Corporation to the biggest project financing in history, each of these transactions showcases Asia's growing economic power and the bigger roles for lawyers there. Here's the inside story of those deals.
DEAL IN BRIEF: AgBank IPO
Dealmaker: Show-Mao Chen, Davis Polk & Wardwell
Value: $22.1 Billion
Firm's Role: Issuer's Counsel
For a business with something of a dowdy reputation, Agricultural Bank of China Limited--that nation's third-largest lender--had some big ambitions when it decided to go public last year. It wanted to raise a lot of money, perhaps a record amount, despite the global economic crisis. It wanted to move quickly. And--perhaps trickiest of all--it wanted a dual listing, on both the Shanghai Stock Exchange, which trades only in China, and the Hong Kong Stock Exchange, which trades internationally.
To pull it off, the bank, known colloquially as AgBank, turned to a lawyer with plenty of experience with dual listings--Davis Polk & Wardwell's Show-Mao Chen. Four years earlier, Chen, who is based in Beijing, led a Davis Polk team that advised China's biggest bank, Industrial and Commercial Bank of China Limited (ICBC), in its initial public offering. That IPO raised $19 billion, making it the world's largest at the time; it was also the first entity to list shares in Shanghai and Hong Kong.
Dual listings are difficult because each exchange has different sets of regulatory requirements related to disclosure, timing, and underwriting practices. These issues can become especially complicated in a large offering.
So Chen and his team began working under what he calls some of "the most challenging circumstances I have seen" so AgBank's IPO could launch in both markets. By April 2010, the bank had lined up ten lead underwriters, a record number--four for Shanghai and six for Hong Kong. It would fall to the Davis Polk lawyers to manage the various opinions of the underwriters and smoothly incorporate them into the prospectus.
Time constraints increased the pressure. There was talk about other Chinese banks that wanted to go public in 2010, and AgBank wanted to ensure that it would be the first in line. The bank wanted to get the IPO to market by July, giving Chen just a three-month window. "Three months is just about the shortest time to market I've seen for an IPO of this kind," he says. "And it certainly felt like it was done in record time."
Chen had teams of lawyers camped out in Davis Polk's Beijing office to keep up with the demanding pace. Meetings were conducted in both En_glish and Chinese, and all of the documents were drafted in both languages, often doubling the lawyers' work.
Antony Dapiran, a former Freshfields Bruck_haus Deringer partner who worked as AgBank's Hong Kong counsel on the IPO, credits Chen with shepherding a "very complex IPO, done on a very compressed timetable, while managing the many parties involved." (Dapiran left Freshfields after the IPO and is now a partner at Davis Polk.)
Finally, there was the hipness factor: AgBank didn't have much. Because it specializes in agricultural loans, which usually have lower profit margins than other sorts of loans, AgBank had long been called the ugly sister of Chinese state banks, Chen says. That meant that the key to pulling off the IPO was emphasizing the bank's potential for growth. (Chen calls it the "glass half-full" view of the bank.) While its loan margins were small, for example, AgBank had the largest network of banks in China, most of them outside the country's largest cities. So in the prospectus, Chen highlighted the "substantial potential for economic growth" in these rural areas. "We were able to sharpen the focus of the bank's disclosure for investors," he says. "That was crucial."
Their work paid off. When the IPO went to market, it raised $22 billion, a record amount that surpassed the sum raised by ICBC four years earlier. Because the IPO had been priced in China, not overseas, as is more customary, "in a way, this IPO was like a coming-out party for China," Chen says. "It feels like China has really arrived on the international market."
AgBank's record stood for only a few months, until November, when the American IPO that relaunched General Motors Company raised $23 billion. But on July 6, at least, the ugly sister was finally the star of the show.
Got lah, there's a picture of Raymond Lim taking a SMRT bus.
Of course he had people to pave the way for him that day, so he might as well have been in a stretch limo.
There are also good and intelligent people in the respective government sectors doing all the work behind the scenes, and running of the country. They rather "do cow, do horse" and not get into politics.
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