Oracle 11g Release 2

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CREATE TABLE id_table
    ("ID" int, "UPDATED_DATE" timestamp)
;

INSERT ALL 
    INTO id_table ("ID", "UPDATED_DATE")
         VALUES (1, '21-Dec-2011 10:34:24 AM')
    INTO id_table ("ID", "UPDATED_DATE")
         VALUES (2, '21-Dec-2011 09:52:15 AM')
    INTO id_table ("ID", "UPDATED_DATE")
         VALUES (3, '21-Dec-2011 10:02:49 AM')
SELECT * FROM dual
;
3 rows affected

Select  MAX(id) KEEP  ( DENSE_RANK FIRST ORDER BY updated_date DESC) as id, 
        MAX(UPDATED_DATE)
   update_date 
FROM id_table ;


ID
UPDATE_DATE


1
21-DEC-11 10.34.24.000000 AM


select id,updated_date FROM
(
Select  i.*,
row_number() OVER ( ORDER BY UPDATED_DATE DESC) as rn
FROM id_table i
) WHERE rn = 1;


ID
UPDATED_DATE


1
21-DEC-11 10.34.24.000000 AM