This Fixmarket thing return to haunt me. This Mr. Jiang still has not paid 2 years of auditing fee for Fixmarket.
I am really quite fed up and I want to close this chapter this year. Either he appoint another foreign director and I resign or he close the company.
Emmy also told me to beware of Amy. This teaches me a lesson on how far you can extend your friendship to people. Apparently, Amy asked Emmy (when she was an employee of Amy) to help her pack her things. And this CID (Amy's boyfriend) did not let her into the house. At the end, only the packers came into the house to pack her things. This apprarently saved her as Amy was suspected of stealing Diamonds and Jewellery from her father-in-law. If she had entered the house, she will be suspected of stealing the goods. Apparently she told the police that the goods were stolen along the way when the goods were packed from that house to another location. If Emmy were allowed into the house, she would be the prime suspect.
She also warned us not to help Amy to carry her things.
Sunday, November 4, 2007
Happy BD to YY -Dinner
Happy Birthday to my wife :)
We went to Oosh at Dempsey road for dinner (yeah quite Suah Ku) . It was one of the rarest time we managed to come out to a a new dinning place for dinner after having our 1 year-old son. I know that if we do not make the effort today, it will be quite long before we go to another dinining place.
The ambience was 5 star at Oosh. It was very big, with a band, and a resort like ambience, with trees and sofas around.
We were at first directed to a sofa place, but as we had HZ with us, it will be more appropriate to have a proper dinning table. Also, they do not have any baby seats. I guess all these restaurants cater for the working professionals who are having a great party time there.
We had Lamb rack ($35) which had a great sauce and Scallop Tempayaki ($30) which tasted normal.
Before and after the dinner, we drove around. It was quite pack, and I believe it will be a nightmare to park during Fridays and Weekends. They had several restaurants, and my wife told me that the Korean restaurant and the la something (French) restaurant was quite good. When I drove around, there was also a place called Wine Network, it looked like a great place for partying (alot of AngMohs there too).
We went to Oosh at Dempsey road for dinner (yeah quite Suah Ku) . It was one of the rarest time we managed to come out to a a new dinning place for dinner after having our 1 year-old son. I know that if we do not make the effort today, it will be quite long before we go to another dinining place.
The ambience was 5 star at Oosh. It was very big, with a band, and a resort like ambience, with trees and sofas around.
We were at first directed to a sofa place, but as we had HZ with us, it will be more appropriate to have a proper dinning table. Also, they do not have any baby seats. I guess all these restaurants cater for the working professionals who are having a great party time there.
We had Lamb rack ($35) which had a great sauce and Scallop Tempayaki ($30) which tasted normal.
Before and after the dinner, we drove around. It was quite pack, and I believe it will be a nightmare to park during Fridays and Weekends. They had several restaurants, and my wife told me that the Korean restaurant and the la something (French) restaurant was quite good. When I drove around, there was also a place called Wine Network, it looked like a great place for partying (alot of AngMohs there too).
Monday, October 29, 2007
Best Financial Advice
Gary Belsky, co-author of "Why Smart People Make Big Money Mistakes and How to Correct Them: Lessons from the New Science of Behavioral Economics":
"Be afraid when people are greedy, and greedy when people are afraid. It's basically, 'Buy low and sell high.' In general, I've been doing better than market averages when I've been handling my investments. I've basically done that by being conservative when the market is frothing and aggressive when the market is down."
Wayne W. Dyer, Ph.D., author of "Your Erroneous Zones" and "It's Not What You've Got: Lessons for Kids on Money and Abundance":
The lesson "for me was, first, pay yourself," Dyer says.
While in the Navy stationed in Guam, Dyer saved 90 percent of his pay over the last 18 months he was there. "So I came home with enough money to pay tuition for four years of school and a car. Even today I pay myself first. If you want to be financially independent by the time you're 30 years old, pay yourself first.
"When you get your paycheck, take a percentage -- between 10 percent and 30 percent -- and put that away," Dyer says. "You'll be rich enough to be financially independent within a short period of time."
Neale S. Godfrey, author of "Money Doesn't Grow on Trees: A Parent's Guide to Raising Financially Responsible Children," and chair of the Children's Financial Network:
"Step away from the television and the magazines. All they serve to do is show you how stupid you are because you've missed whatever they're talking about. It's old news. It's already happened."
The advice came from her financial adviser, she recalls. "I used to call him and say, 'Why didn't we ...?' He'd say, 'Stop it. Step away from the television. It's done.'"
She realized that he was right. "By the time you see it or read it, it's done; it's happened," Godfrey says. And if you listen and follow the hot news, she says, "You will buy at the top and sell at the bottom -- exactly what you're not supposed to do."
George Kinder, Certified Financial Planner, author of "The Seven Stages of Money Maturity: Understanding the Spirit and Value of Money in Your Life," and founder of The Kinder Institute:
"It's about the meaning, not the money. If my investing is not really deeply tied to what I think is most important in my life," he says, then, "the asset allocation, the estate plan, the retirement plan might as well be thrown out the window."
His best advice: "Hire a Registered Life Planner (a financial planner with additional training in helping clients identify and reach life goals) to help you through this," Kinder says. "Nobody can do this themselves."
A life trainer, he says, "is trained in how to elicit from a client what is meaningful and how to keep their eyes on the prize."
Robert Kiyosaki, co-author of "Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money -- That the Poor and Middle Class Do Not!":
"My rich dad gave me lots of advice. One of the better ones: There's good debt and bad debt. Bad debt is debt you have to pay for and makes you poor. If I use credit cards to buy new shoes it makes me poor. Good debt makes me rich and someone else pays for it."
One example: "I'm closing on a $17 million property and financing $14 million. That $14 million is good debt. It makes me richer every month by putting $20,000 in my pocket."
Rieva Lesonsky, co-author of "Start Your Own Business," and senior vice president and editorial director at Entrepreneur magazine:
Lesonsky's best advice "was from the owner of our magazine, Peter Shea," she recalls. "He said, 'Housing prices have gone up -- get a second mortgage and pay off your debt.' I did, and I'm debt-free."
Peter Navarro, Ph.D., author of "The Coming China Wars: Where They Will Be Fought and How They Can Be Won," and associate professor of economics and public policy at the University of California, Irvine:
"Take every piece of advice you get from any investment adviser with a barrel of salt. Most are trying to sell you things that you probably don't need or want. Think for yourself."
Navarro says he learned that lesson after a bad experience with a financial adviser. "I lost some money, then took control and never looked back," he says.
Dave Ramsey, author of "The Total Money Makeover: A Proven Plan for Financial Fitness" and host of a nationally syndicated radio show focusing on personal finance:
"A friend of mine who is a billionaire told me that he reads a book to his grandkids and I should read that book. The book is 'The Tortoise and the Hare.' Every time he reads the book, the tortoise wins. Slow and steady wins the race, and consistency matters. Get-rich-quick never wins.
"If you try to impress other people, you'll lose the wealth race, as well," Ramsey says. "It sure did give me a nice metaphor. It's a good reminder to somebody like me to keep me in check. It has implications for debt, for mutual funds, for budgets -- an overlay for everything."
"Be afraid when people are greedy, and greedy when people are afraid. It's basically, 'Buy low and sell high.' In general, I've been doing better than market averages when I've been handling my investments. I've basically done that by being conservative when the market is frothing and aggressive when the market is down."
Wayne W. Dyer, Ph.D., author of "Your Erroneous Zones" and "It's Not What You've Got: Lessons for Kids on Money and Abundance":
The lesson "for me was, first, pay yourself," Dyer says.
While in the Navy stationed in Guam, Dyer saved 90 percent of his pay over the last 18 months he was there. "So I came home with enough money to pay tuition for four years of school and a car. Even today I pay myself first. If you want to be financially independent by the time you're 30 years old, pay yourself first.
"When you get your paycheck, take a percentage -- between 10 percent and 30 percent -- and put that away," Dyer says. "You'll be rich enough to be financially independent within a short period of time."
Neale S. Godfrey, author of "Money Doesn't Grow on Trees: A Parent's Guide to Raising Financially Responsible Children," and chair of the Children's Financial Network:
"Step away from the television and the magazines. All they serve to do is show you how stupid you are because you've missed whatever they're talking about. It's old news. It's already happened."
The advice came from her financial adviser, she recalls. "I used to call him and say, 'Why didn't we ...?' He'd say, 'Stop it. Step away from the television. It's done.'"
She realized that he was right. "By the time you see it or read it, it's done; it's happened," Godfrey says. And if you listen and follow the hot news, she says, "You will buy at the top and sell at the bottom -- exactly what you're not supposed to do."
George Kinder, Certified Financial Planner, author of "The Seven Stages of Money Maturity: Understanding the Spirit and Value of Money in Your Life," and founder of The Kinder Institute:
"It's about the meaning, not the money. If my investing is not really deeply tied to what I think is most important in my life," he says, then, "the asset allocation, the estate plan, the retirement plan might as well be thrown out the window."
His best advice: "Hire a Registered Life Planner (a financial planner with additional training in helping clients identify and reach life goals) to help you through this," Kinder says. "Nobody can do this themselves."
A life trainer, he says, "is trained in how to elicit from a client what is meaningful and how to keep their eyes on the prize."
Robert Kiyosaki, co-author of "Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money -- That the Poor and Middle Class Do Not!":
"My rich dad gave me lots of advice. One of the better ones: There's good debt and bad debt. Bad debt is debt you have to pay for and makes you poor. If I use credit cards to buy new shoes it makes me poor. Good debt makes me rich and someone else pays for it."
One example: "I'm closing on a $17 million property and financing $14 million. That $14 million is good debt. It makes me richer every month by putting $20,000 in my pocket."
Rieva Lesonsky, co-author of "Start Your Own Business," and senior vice president and editorial director at Entrepreneur magazine:
Lesonsky's best advice "was from the owner of our magazine, Peter Shea," she recalls. "He said, 'Housing prices have gone up -- get a second mortgage and pay off your debt.' I did, and I'm debt-free."
Peter Navarro, Ph.D., author of "The Coming China Wars: Where They Will Be Fought and How They Can Be Won," and associate professor of economics and public policy at the University of California, Irvine:
"Take every piece of advice you get from any investment adviser with a barrel of salt. Most are trying to sell you things that you probably don't need or want. Think for yourself."
Navarro says he learned that lesson after a bad experience with a financial adviser. "I lost some money, then took control and never looked back," he says.
Dave Ramsey, author of "The Total Money Makeover: A Proven Plan for Financial Fitness" and host of a nationally syndicated radio show focusing on personal finance:
"A friend of mine who is a billionaire told me that he reads a book to his grandkids and I should read that book. The book is 'The Tortoise and the Hare.' Every time he reads the book, the tortoise wins. Slow and steady wins the race, and consistency matters. Get-rich-quick never wins.
"If you try to impress other people, you'll lose the wealth race, as well," Ramsey says. "It sure did give me a nice metaphor. It's a good reminder to somebody like me to keep me in check. It has implications for debt, for mutual funds, for budgets -- an overlay for everything."
Monday, October 8, 2007
Lonely
I am so lonely, standing aside when the party is going on.
STI has moved up another 15 % when I decide to leave the party. Sigh....
It seems that the stock market has disregarded any problems which ever exist.
Are things better ? I don't think so. Will things get worse, likely so. Watch ... the USD is crumpling.
YTD portfolio 39%.
There are only 1-2 counters worth accumulating.
What am I optimistic on... commodoties.
STI has moved up another 15 % when I decide to leave the party. Sigh....
It seems that the stock market has disregarded any problems which ever exist.
Are things better ? I don't think so. Will things get worse, likely so. Watch ... the USD is crumpling.
YTD portfolio 39%.
There are only 1-2 counters worth accumulating.
What am I optimistic on... commodoties.
Tuesday, September 18, 2007
Fed cuts 50 basis points to 4.75%
Berneke saves the day!
Urgg...As I expected Helicopter Ben pays scant regard to the inflation topics and saves the stock market. I should have known that to protect his reputation (he will not want to be the first Fed on watch with a crash in the market), and being handpicked by Bush, he will resort to more drastic measures.
Sigh... I was more or less out of the market, so in the morning I put some orders for the banks. They are quite beaten up, and the Fed move will benefit the emerging markets better. The banks will be definetly be a good short term play.
I learnt my lesson prevously, and entered the blue chips this time. (Small cap do not impact my bottom line)
Went in UOB 21, exit 21.3. (yest close 20.5, down 0.3)
Went in DBS 19.7 exit 19.9. (yest close 19.3, down 0.2)
New lesson learnt, 1) do not overpay (~2% premium). 2) UOB with share buy back is a better play. 3) have to lift my credit limit in account.
I will wait their further bad news. Lehmann Brothers results were good, posting a slight decline even after writing down 700mio in subprime mortages.
The other big investment bankers will be reporting soon. Somehow I think Goldman Sachs will show a slightly bigger decline. Beware, DBS is another time bomb, possibly writing off some value in its 3rd quarter earnings.
Urgg...As I expected Helicopter Ben pays scant regard to the inflation topics and saves the stock market. I should have known that to protect his reputation (he will not want to be the first Fed on watch with a crash in the market), and being handpicked by Bush, he will resort to more drastic measures.
Sigh... I was more or less out of the market, so in the morning I put some orders for the banks. They are quite beaten up, and the Fed move will benefit the emerging markets better. The banks will be definetly be a good short term play.
I learnt my lesson prevously, and entered the blue chips this time. (Small cap do not impact my bottom line)
Went in UOB 21, exit 21.3. (yest close 20.5, down 0.3)
Went in DBS 19.7 exit 19.9. (yest close 19.3, down 0.2)
New lesson learnt, 1) do not overpay (~2% premium). 2) UOB with share buy back is a better play. 3) have to lift my credit limit in account.
I will wait their further bad news. Lehmann Brothers results were good, posting a slight decline even after writing down 700mio in subprime mortages.
The other big investment bankers will be reporting soon. Somehow I think Goldman Sachs will show a slightly bigger decline. Beware, DBS is another time bomb, possibly writing off some value in its 3rd quarter earnings.
Sunday, September 16, 2007
Portfolio and Sep07 Sentiments
Most of the stocks when further up when I sold.
I again sold off more of my stocks. I am almost 95% in cash. Portfolio YTD is around 37%.
Only thing I have left is QAF.
I guess I look like the lonely guy now who have left the party early. I have been rather conservative since late last year, thus reducing my performance.
I think the writing is already on the wall why I think there is a downturn.
Although I am bullish on the Singapore economy, being an export oriented economy and closely tighted to the fortunes of the US, I think it will go down with it.
The US housing has lots more to go down. People always mention subprime, but I believe it is as much as 30 % US housing which has a problem.
People will always save their house first, thus consumer spending will slow down tremendously.
Housing/Developers will be hit, Housing agents will be hit, Finanical Instituions will be hit, Retailors specialising in Housing/Furniture related stuff, Consumer slowdown, I believe it is the perfect storm coming. The lightning and thunder has flashed, it is just waiting for the storm to come....
I again sold off more of my stocks. I am almost 95% in cash. Portfolio YTD is around 37%.
Only thing I have left is QAF.
I guess I look like the lonely guy now who have left the party early. I have been rather conservative since late last year, thus reducing my performance.
I think the writing is already on the wall why I think there is a downturn.
Although I am bullish on the Singapore economy, being an export oriented economy and closely tighted to the fortunes of the US, I think it will go down with it.
The US housing has lots more to go down. People always mention subprime, but I believe it is as much as 30 % US housing which has a problem.
People will always save their house first, thus consumer spending will slow down tremendously.
Housing/Developers will be hit, Housing agents will be hit, Finanical Instituions will be hit, Retailors specialising in Housing/Furniture related stuff, Consumer slowdown, I believe it is the perfect storm coming. The lightning and thunder has flashed, it is just waiting for the storm to come....
Tuesday, September 4, 2007
Investment Strategy and Sentiment Sep07
Investment Strategy
After the recent rebound, I was not able to particpate fully in the recovery. On the following day after the Fed rate cut, I entered extra 13% in ASL Marine, CSC and Hiap Seng. Although it gave me decent returns, it was insignificant compared to my portfolio.
I discover that I have to refine my investment strategy due to my size of my portfolio. My past investment strategy on looking at small caps is not as effective as I cannot enter and exit as easily.
1) I cannot concentrate on small caps, but have to look at the mid and blue chips right now. The small cap volumn is too small to go in or out.
2) Each entry will have to have at least 13% to be effective.
3) With my bearish sentiment, I will have to have a hit and run strategy on the blue chips. What are interesting ? UOB (Share buyback) 18.2, OCBC (Ningbo IPO) 7.6, Keppel Corp 9.8 (Oil Rigs), Singtel (Bharti)
Investment Sentiment
With the elections coming in 2008, I believe Helicopter Berneke will pay lip service on the inflation topic, and flood easy money to the economy. He is handpick by Bush to take over Greenspan. Will he cut this sep18 ? Although that is the worst option, I believe he will.
I think the US economy will tailspin into stagflation, and while US Stock market may go higher, I prefer to stay in the sideline. Like what Warren Buffet mention,
...Orgies tend to be wildest toward the end. It's like being Cinderella at the ball. You know that at midnight everything's going to turn back to pumpkins & mice. But you look around and say, 'one more dance,' and so does everyone else. The party does get to be more fun -- and besides, there are no clocks on the wall. And then suddenly the clock strikes 12, and everything turns back to pumpkins and mice."
After the recent rebound, I was not able to particpate fully in the recovery. On the following day after the Fed rate cut, I entered extra 13% in ASL Marine, CSC and Hiap Seng. Although it gave me decent returns, it was insignificant compared to my portfolio.
I discover that I have to refine my investment strategy due to my size of my portfolio. My past investment strategy on looking at small caps is not as effective as I cannot enter and exit as easily.
1) I cannot concentrate on small caps, but have to look at the mid and blue chips right now. The small cap volumn is too small to go in or out.
2) Each entry will have to have at least 13% to be effective.
3) With my bearish sentiment, I will have to have a hit and run strategy on the blue chips. What are interesting ? UOB (Share buyback) 18.2, OCBC (Ningbo IPO) 7.6, Keppel Corp 9.8 (Oil Rigs), Singtel (Bharti)
Investment Sentiment
With the elections coming in 2008, I believe Helicopter Berneke will pay lip service on the inflation topic, and flood easy money to the economy. He is handpick by Bush to take over Greenspan. Will he cut this sep18 ? Although that is the worst option, I believe he will.
I think the US economy will tailspin into stagflation, and while US Stock market may go higher, I prefer to stay in the sideline. Like what Warren Buffet mention,
...Orgies tend to be wildest toward the end. It's like being Cinderella at the ball. You know that at midnight everything's going to turn back to pumpkins & mice. But you look around and say, 'one more dance,' and so does everyone else. The party does get to be more fun -- and besides, there are no clocks on the wall. And then suddenly the clock strikes 12, and everything turns back to pumpkins and mice."
Portfolio Sep07
After the recent volatility and rebound, returns YTD is 36%. Although the STI in general rebounded, I had about 30% in equities, and did not enjoy the rebound.
The Fed cut the discount rate to the FI by 25 basis points on Friday (after 2-3 weeks of downturn) , causing Wall Street to boom almost 2%. I had wanted to go in the next week Monday, but the Fed disrupted all my plans.
Anyhow, I trim back on my portfolio even further to 15%.
I sold off SMRT, Darco, most of Techcomp. I sold of part of ASL Marine, CSC and Hiap Seng which I bought on Monday (The day STI rebounded after the Fed cut).
Not a good price, but right now I think it is time to be conservative.
This is my current portfolio
ASL Marine 4%
Metro 4%
QAF 4%
QAF Warrant
TechComp 1 %
Gen Mag 1 %
Cash 85%.
The Fed cut the discount rate to the FI by 25 basis points on Friday (after 2-3 weeks of downturn) , causing Wall Street to boom almost 2%. I had wanted to go in the next week Monday, but the Fed disrupted all my plans.
Anyhow, I trim back on my portfolio even further to 15%.
I sold off SMRT, Darco, most of Techcomp. I sold of part of ASL Marine, CSC and Hiap Seng which I bought on Monday (The day STI rebounded after the Fed cut).
Not a good price, but right now I think it is time to be conservative.
This is my current portfolio
ASL Marine 4%
Metro 4%
QAF 4%
QAF Warrant
TechComp 1 %
Gen Mag 1 %
Cash 85%.
Sunday, August 12, 2007
Portfolio Aug 07
The headlines the last 2-3 weeks was the sub-prime news in the US. While this was a known issue and my portfolio was conservative with 40% as cash, my portfolio declined about 7% from its peak.
Last month I sold off CSC (43 cents) and Genting (93 cents) which I considered my speculative counters. I was lucky as I sold them before the big sell off. Just last week, I sold off Ecowise (71 cents) and Kian Ann (41 cents) and then later China Milk (1.17) and some Metro (92).
I think CSC has made its run from 3 cents plus to 49+ cents. While it will continue to benefit from the construction boom, its main Shareholder Tat Hong will be eager to cash out after getting their shares at about 5 cents. They sold around 10% of outstanding shares at 45 cents.
With the UK changing their stance on super casinos, (Genting was a strong forerunner with its subsidary to clinch a casino contract), the returns on Genting looks less attractive. I believe Genting is artificially supported now as they are raising cash with rights issue. I think Genting may fall at least 20% after the rights issue.
Sold Ecowise as my investments were small and they spiked up from 62 cents upwards. My gains were about 120%. I also sold of Kian Ann as their PE was no more attractive.
Later in the week, I decide to be even more ultra conservative. I wanted to have some ammo when the recession hits. I sold off China Milk (I did not take into account their financial costs) and some Metro.
YTD Porfolio is now up 37 %.
My portfolio is now 70% cash and 30% equities.
Portfolio is now
SMRT
Metro
TechComp
Darco Environment
QAF
QAF Warrant
Gen Mag
Food Junction
Last month I sold off CSC (43 cents) and Genting (93 cents) which I considered my speculative counters. I was lucky as I sold them before the big sell off. Just last week, I sold off Ecowise (71 cents) and Kian Ann (41 cents) and then later China Milk (1.17) and some Metro (92).
I think CSC has made its run from 3 cents plus to 49+ cents. While it will continue to benefit from the construction boom, its main Shareholder Tat Hong will be eager to cash out after getting their shares at about 5 cents. They sold around 10% of outstanding shares at 45 cents.
With the UK changing their stance on super casinos, (Genting was a strong forerunner with its subsidary to clinch a casino contract), the returns on Genting looks less attractive. I believe Genting is artificially supported now as they are raising cash with rights issue. I think Genting may fall at least 20% after the rights issue.
Sold Ecowise as my investments were small and they spiked up from 62 cents upwards. My gains were about 120%. I also sold of Kian Ann as their PE was no more attractive.
Later in the week, I decide to be even more ultra conservative. I wanted to have some ammo when the recession hits. I sold off China Milk (I did not take into account their financial costs) and some Metro.
YTD Porfolio is now up 37 %.
My portfolio is now 70% cash and 30% equities.
Portfolio is now
SMRT
Metro
TechComp
Darco Environment
QAF
QAF Warrant
Gen Mag
Food Junction
Wednesday, July 4, 2007
Portfoilio July07
My portfolio is now up 45% YTD. It is underperforming the Sesdaq as I am still mostly vested at 60% with 40% left as cash. Counting just investments only, I will be up 75%. Well, that is the price to pay for being conservative.
My portfolio is getting more and more like a zoo. Usually when I purchase, I do it part by part because of my investment size. Usually the price zooms off before I finish the accumulation, and I have to start to source for another gem. I have been busy with my property agent job and that cause me valuable research time, missing out a few gems during this time.
From my last update, I have sold off Full Apex (due to oil), Pan United Marine (Being Bought over) Superbowl ( went up >50% in a few weeks) and added in Genting, Kian Ann, China Milk, QAF, Hoe Leong and Gen Mag.
This is my portfolio at half time.
CSC
Metro
Genting
SMRT
China Milk
TechComp
Darco Environment
Kian Ann
Ecowise
Gen Mag
QAF
QAF Warrant
Hoe Leong
Food Junction
I will be Hong Kong next week on a business trip.
My portfolio is getting more and more like a zoo. Usually when I purchase, I do it part by part because of my investment size. Usually the price zooms off before I finish the accumulation, and I have to start to source for another gem. I have been busy with my property agent job and that cause me valuable research time, missing out a few gems during this time.
From my last update, I have sold off Full Apex (due to oil), Pan United Marine (Being Bought over) Superbowl ( went up >50% in a few weeks) and added in Genting, Kian Ann, China Milk, QAF, Hoe Leong and Gen Mag.
This is my portfolio at half time.
CSC
Metro
Genting
SMRT
China Milk
TechComp
Darco Environment
Kian Ann
Ecowise
Gen Mag
QAF
QAF Warrant
Hoe Leong
Food Junction
I will be Hong Kong next week on a business trip.
Sunday, June 10, 2007
INTERVIEW - Singapore's CSC Holdings eyes Indian, Vietnamese markets 6/8/2007 1:25:00
INTERVIEW - Singapore's CSC Holdings eyes Indian, Vietnamese markets 6/8/2007 1:25:00
PM SINGAPORE (XFN-ASIA) -
CSC Holdings Ltd, a building foundation specialist, is looking at opportunities in India and Vietnam because it expects these two countries to accelerate their investment in infrastructure in the next few years, CSC president and group chief executive See Yen Tarn said. See told XFN-Asia in an interview that setting its sights on opportunities overseas should give the group balanced growth in the future, should the construction boom here falter -- although at this stage it was likely that the boom would continue. "We have a clear visibility in the domestic market in the next 3-5 years," See said. The construction industry here is busy building casino resorts at Marina Bay and on Sentosa island, new shopping malls on Orchard Road, the Marina Bay Financial Centre and upmarket residential condominiums in and around the central business district. CSC's latest results reflect the industry's rapid growth. In the financial year ended March, CSC's net profit surged 127.6 pct to 8.6 mln sgd as revenue rose 18.1 pct to 126.7 mln sgd and net profit margins widened to 7.3 pct from 4.1 pct. Growth in the next few years will be underpinned by the group's order book, worth about 380 mln sgd, which includes a 240 mln sgd contract secured by CSC's wholly-owned subsidiary L&M Foundation Specialist Pte Ltd with the Marina Bay Sands casino resort. See said CSC's capacity was almost fully utilized now, given that Marina Bay Sands, which opens in 2009, and other projects here will keep the group busy in the next few years. See said that he would focus on finishing projects already in the pipeline rather than go after new projects vigorously. "We should be able to secure a few more jobs, but we do have capacity constraints," See said. The tight supply of specialized construction equipment and labor are among these constraints. See said his company would begin taking opportunities abroad only next year or after. He believes the next construction booms will be in India and Vietnam, because both countries have under-invested in infrastructure and the economic growth there in the past few years has put a strain on infrastructure. He reckons CSC will be able to seize opportunities in Malaysia much more quickly than in Vietnam or India because it already has a foothold in Malaysia. In March 2006, CSC bought G-Pile Sistem Sdn Bhd, a Malaysian provider of hydraulic jack-in piling services. "G-Pile will be our platform to expand into Malaysia," See said. There are also a number of infrastructure and property projects in Malaysia, notably the plan to transform the Iskandar Development Region in the southern state of Johor into an industrial and tourism hub.
PM SINGAPORE (XFN-ASIA) -
CSC Holdings Ltd, a building foundation specialist, is looking at opportunities in India and Vietnam because it expects these two countries to accelerate their investment in infrastructure in the next few years, CSC president and group chief executive See Yen Tarn said. See told XFN-Asia in an interview that setting its sights on opportunities overseas should give the group balanced growth in the future, should the construction boom here falter -- although at this stage it was likely that the boom would continue. "We have a clear visibility in the domestic market in the next 3-5 years," See said. The construction industry here is busy building casino resorts at Marina Bay and on Sentosa island, new shopping malls on Orchard Road, the Marina Bay Financial Centre and upmarket residential condominiums in and around the central business district. CSC's latest results reflect the industry's rapid growth. In the financial year ended March, CSC's net profit surged 127.6 pct to 8.6 mln sgd as revenue rose 18.1 pct to 126.7 mln sgd and net profit margins widened to 7.3 pct from 4.1 pct. Growth in the next few years will be underpinned by the group's order book, worth about 380 mln sgd, which includes a 240 mln sgd contract secured by CSC's wholly-owned subsidiary L&M Foundation Specialist Pte Ltd with the Marina Bay Sands casino resort. See said CSC's capacity was almost fully utilized now, given that Marina Bay Sands, which opens in 2009, and other projects here will keep the group busy in the next few years. See said that he would focus on finishing projects already in the pipeline rather than go after new projects vigorously. "We should be able to secure a few more jobs, but we do have capacity constraints," See said. The tight supply of specialized construction equipment and labor are among these constraints. See said his company would begin taking opportunities abroad only next year or after. He believes the next construction booms will be in India and Vietnam, because both countries have under-invested in infrastructure and the economic growth there in the past few years has put a strain on infrastructure. He reckons CSC will be able to seize opportunities in Malaysia much more quickly than in Vietnam or India because it already has a foothold in Malaysia. In March 2006, CSC bought G-Pile Sistem Sdn Bhd, a Malaysian provider of hydraulic jack-in piling services. "G-Pile will be our platform to expand into Malaysia," See said. There are also a number of infrastructure and property projects in Malaysia, notably the plan to transform the Iskandar Development Region in the southern state of Johor into an industrial and tourism hub.
Sunday, June 3, 2007
Pan United Marine / Superbowl
Sigh... 1 more gem being taken over. There was a takeover offer of 2.38 from Dubai Drydocks World. I think I have not much to comment but it is too low which I expect to reach 3.00. Ex-cash, it is about 10-11x PE. Looks like the Ng family will like to enjoy their fruits of labour early. What I am puzzled is why are they selling so low unless they have a better investments around ?
My entry price is from 50 cents + and even accumulated in Feb around 1.7. It gave me very good returns as well as big dividends. I will miss this one. I sold everything at 2.41, which I was quite surprised someone took. Either something is still brewing or someone did not do his sums right. Well.....
I am looking at some of the other oil counters and another 1-2 counters right now to replace this.
Superbowl - it shoot up about 50% from my buying price, while this may continue, I think it is good enough for me.
My entry price is from 50 cents + and even accumulated in Feb around 1.7. It gave me very good returns as well as big dividends. I will miss this one. I sold everything at 2.41, which I was quite surprised someone took. Either something is still brewing or someone did not do his sums right. Well.....
I am looking at some of the other oil counters and another 1-2 counters right now to replace this.
Superbowl - it shoot up about 50% from my buying price, while this may continue, I think it is good enough for me.
Old Airport Road property
I am helping a colleague to source for property around where I stay - Old Airport Road. Wah the property here really sells like hot cakes. When I tried to source and co-broke, most of the flats were sold. The only ones left were low floors or Non-Chinese.
She wanted to have a flat here where is near her in-laws so that travelling to-fro to collect her 1 yr old son from her in-laws will be much more convenient. Now, it is a bit of logistic nightmare as she lives quite far. Also she is targetting the Kong Hua school for a son.
I have been enquiring around and the transacted price here is also also about 20% above valuation. That means about 50-60K cash uprfront. Well, that is the price to pay for the convenience and location - school and when the MRT circle line comes in.
She wanted to have a flat here where is near her in-laws so that travelling to-fro to collect her 1 yr old son from her in-laws will be much more convenient. Now, it is a bit of logistic nightmare as she lives quite far. Also she is targetting the Kong Hua school for a son.
I have been enquiring around and the transacted price here is also also about 20% above valuation. That means about 50-60K cash uprfront. Well, that is the price to pay for the convenience and location - school and when the MRT circle line comes in.
Monday, May 28, 2007
Shanghai Metro and XinTianDi
I was in Shanghai last week and went to Metro Shanghai and XinTianDi. Metro Shanghai is located in Xin Jia Hui, one of the most popular crowded area, like orchard road in Singapore . It was very crowded even in the weekdays.
It is a famous IT complex outside Xin Jia Hui Station.
On my other day, I met up with my China friends at Xin Tian Di. It is a high class night entertainment area with alot of foreigners. It has very colonial background and according to my China friends, the land in XinTian Di went up from 8-10 K to 40K RMB per Sqm once Shui On announced the builidng of the site.
I am quite optimistic on this gem as Metro is still trading below NAV of 1.2+ and I believe once Metro Beijing comes onstream, profits will continue to roll in. A China Reit could be in the offering as well :)
Monday, May 21, 2007
INTEGRATED RESORTS PROJECT AT MARINA BAY
Something made my day today and tomorrow ! :) Clinching the Marina is a fantastic results! Next Sentosa will be much easier as the contracts will be farmed to local contractors.
I have full confidence this will continue to reach greater heights. With Tat Hong as a strong backer, look for it to go into Middle East. Vietnam will is in the infancy stage of industrailization will be next. $1 ? let's see.
The Board of Directors (“The Board”) of CSC Holdings Limited (the “Company”) wishes to
announce that its wholly owned subsidiary, L&M Foundation Specialist Pte Ltd has been
awarded a contract by Marina Bay Sands Pte Ltd for the Marina Bay Sands Integrated
Resort Development, Package 2220 – Construction Contract for Piling and Diaphragm Walls
(Podium North).
This contract sum is approximately $240 million. Works are scheduled to commence in June
2007 and expected to be completed in February 2008.
This contract is expected to contribute positively to the financial results of the Company and
its subsidiaries for the current financial year.
None of the directors or substantial shareholders of the Company has any interest, direct or
indirect, in the above contracts.
By Order of the Board
Lee Quang Loong
Company Secretary
Date : 21 May 2007
About CSC Holdings Limited (“CSC”)
CSC is a foundation and geotechnical engineering specialist. CSC offers a full range of
design-and-build capabilities includes Large Diameter Bored Pile, Diaphragm Wall, Driven-Pile,
Jack-in-Pile, Micro Pile and Soil Investigation & Instrumentation.
I have full confidence this will continue to reach greater heights. With Tat Hong as a strong backer, look for it to go into Middle East. Vietnam will is in the infancy stage of industrailization will be next. $1 ? let's see.
The Board of Directors (“The Board”) of CSC Holdings Limited (the “Company”) wishes to
announce that its wholly owned subsidiary, L&M Foundation Specialist Pte Ltd has been
awarded a contract by Marina Bay Sands Pte Ltd for the Marina Bay Sands Integrated
Resort Development, Package 2220 – Construction Contract for Piling and Diaphragm Walls
(Podium North).
This contract sum is approximately $240 million. Works are scheduled to commence in June
2007 and expected to be completed in February 2008.
This contract is expected to contribute positively to the financial results of the Company and
its subsidiaries for the current financial year.
None of the directors or substantial shareholders of the Company has any interest, direct or
indirect, in the above contracts.
By Order of the Board
Lee Quang Loong
Company Secretary
Date : 21 May 2007
About CSC Holdings Limited (“CSC”)
CSC is a foundation and geotechnical engineering specialist. CSC offers a full range of
design-and-build capabilities includes Large Diameter Bored Pile, Diaphragm Wall, Driven-Pile,
Jack-in-Pile, Micro Pile and Soil Investigation & Instrumentation.
Wednesday, May 9, 2007
Intelligence not linked to wealth, according to US study
WASHINGTON (AFP) - Intelligence has nothing to do with wealth, according to a US study published Tuesday which found that people with below average smarts were just as wealthy as those with higher IQ scores.
"People don't become rich because they are smart," said Jay Zagorsky, research scientist at Ohio State University whose study appears in the Journal Intelligence.
The US Bureau of Labor Statistics survey included 7,403 Americans who have been interviewed repeatedly since 1979. Based on 2004 answers, people who are now in their mid-40s showed no link between brain- and earning-power.
"Your IQ has really no relationship to your wealth. And being very smart does not protect you from getting into financial difficulty," Zagorsky said.
The study confirmed previous research which has shown that smarter people tend to earn more money, but pointed out there is a difference between high pay and overall wealth.
"The average income difference between a person with an IQ score in the normal range (100) and someone in the top two percent of society (130) is currently between 6,000 and 18,500 dollars per year," it said.
"But when it came to total wealth and the likelihood of financial difficulties, people of below average and average intelligence did just fine when compared to the super-intelligent."
An irregular pattern of total wealth as well as financial distress levels -- such as maxed out credit cards, bankruptcy and missing bill payments -- emerged among the various degrees of intelligence, the study said.
The study measured intelligence based on scores from the US Armed Services Qualification Test, a general aptitude test used by the Department of Defense
"People don't become rich because they are smart," said Jay Zagorsky, research scientist at Ohio State University whose study appears in the Journal Intelligence.
The US Bureau of Labor Statistics survey included 7,403 Americans who have been interviewed repeatedly since 1979. Based on 2004 answers, people who are now in their mid-40s showed no link between brain- and earning-power.
"Your IQ has really no relationship to your wealth. And being very smart does not protect you from getting into financial difficulty," Zagorsky said.
The study confirmed previous research which has shown that smarter people tend to earn more money, but pointed out there is a difference between high pay and overall wealth.
"The average income difference between a person with an IQ score in the normal range (100) and someone in the top two percent of society (130) is currently between 6,000 and 18,500 dollars per year," it said.
"But when it came to total wealth and the likelihood of financial difficulties, people of below average and average intelligence did just fine when compared to the super-intelligent."
An irregular pattern of total wealth as well as financial distress levels -- such as maxed out credit cards, bankruptcy and missing bill payments -- emerged among the various degrees of intelligence, the study said.
The study measured intelligence based on scores from the US Armed Services Qualification Test, a general aptitude test used by the Department of Defense
First Deal as Property agent
I signed up as a property agent with Propnex a week ago. Propnex by the way is the biggest property agency in Singapore.
And quickly after spreading some leads via SMS, I was pleasantly surprise to have a return SMS. It was from my NUS friend's brother, who is looking for a Orlando condo in Toa Payoh.
I quickly replied contacted him to get his needs and perference and start to source for potential units to meet his criteria.
Wish me luck
And quickly after spreading some leads via SMS, I was pleasantly surprise to have a return SMS. It was from my NUS friend's brother, who is looking for a Orlando condo in Toa Payoh.
I quickly replied contacted him to get his needs and perference and start to source for potential units to meet his criteria.
Wish me luck
Thursday, May 3, 2007
Soccer - European Championship AC Milan 3- Man U 0
Stayed up early morning to catch the soccer game.
AC Milan was simply breathtaking, superb passing, 1 touch football and simply fast.
Kaka was amazing ghosting pass defenders, and precise strking.
Man U on the other hand played misery.
1) Man U always looked half a step too slow. They played as if they had weights on their legs.
2) They were tactically wrong also. They played both wingers Giggs and Ronaldo at opposite flanks. You can confuse teams at lower rungs but against top notch team like AC Milan, you are simply giving them a handicap. What is Ferguson thinking ?
In the first half, the flank by Ronaldo was simply non-existance, I think both goals started from there. Ferguson only realised this in the 2nd half, but by then the damage was done.
I guess luck has to play a part too. Man U had to play Everton just 3 days ago, while AC Milan rested their key players as Inter is already the champion. Man U just look jaded.
Going forward, they should get at least 4 top players if they still want to challange for top European honours. 2 players to replace Giggs and Scholes (both above 30). 1 more defensive midfielder and a top striker.
AC Milan was simply breathtaking, superb passing, 1 touch football and simply fast.
Kaka was amazing ghosting pass defenders, and precise strking.
Man U on the other hand played misery.
1) Man U always looked half a step too slow. They played as if they had weights on their legs.
2) They were tactically wrong also. They played both wingers Giggs and Ronaldo at opposite flanks. You can confuse teams at lower rungs but against top notch team like AC Milan, you are simply giving them a handicap. What is Ferguson thinking ?
In the first half, the flank by Ronaldo was simply non-existance, I think both goals started from there. Ferguson only realised this in the 2nd half, but by then the damage was done.
I guess luck has to play a part too. Man U had to play Everton just 3 days ago, while AC Milan rested their key players as Inter is already the champion. Man U just look jaded.
Going forward, they should get at least 4 top players if they still want to challange for top European honours. 2 players to replace Giggs and Scholes (both above 30). 1 more defensive midfielder and a top striker.
PUM $98 Mio shipbuilding contract
Scrutinize the business - not the stock price. Its just gets better and better
Market move ahead of news announcement. This ensures steady increasing profits till 2010 and fat dividends too :)
PAN-UNITED MARINE LIMITED
Press ReleaseClinches Singapore’s first ultra-large AHTSvessel shipbuilding contract
􀂉 1st Singapore yard to build 30,000bhp AHTS vessels
􀂉 S$98m contract lifts orderbook above S$570m
􀂉 In line with focus on higher value-added projectsSingapore,
3 May 2007 – Pan-United Marine Limited (“PUM” or the “Group”) todayannounced it has won two shipbuilding contracts, worth a total of S$98 million, to buildtwo UT788 CD anchor handling, towing, and supply (AHTS) vessels from repeat client,Lewek Shipping Pte Ltd, a subsidiary of Mainboard-listed Ezra Holdings Limited (“Ezra”),a fully integrated support services provider operating a wide spectrum of vessels for theoffshore oil & gas industry.The two 30,000bhp AHTS vessels will be built in PUM’s Singapore yard for delivery inend 2009.
Market move ahead of news announcement. This ensures steady increasing profits till 2010 and fat dividends too :)
PAN-UNITED MARINE LIMITED
Press ReleaseClinches Singapore’s first ultra-large AHTSvessel shipbuilding contract
􀂉 1st Singapore yard to build 30,000bhp AHTS vessels
􀂉 S$98m contract lifts orderbook above S$570m
􀂉 In line with focus on higher value-added projectsSingapore,
3 May 2007 – Pan-United Marine Limited (“PUM” or the “Group”) todayannounced it has won two shipbuilding contracts, worth a total of S$98 million, to buildtwo UT788 CD anchor handling, towing, and supply (AHTS) vessels from repeat client,Lewek Shipping Pte Ltd, a subsidiary of Mainboard-listed Ezra Holdings Limited (“Ezra”),a fully integrated support services provider operating a wide spectrum of vessels for theoffshore oil & gas industry.The two 30,000bhp AHTS vessels will be built in PUM’s Singapore yard for delivery inend 2009.
Sunday, April 29, 2007
Pan United Marine Q1 results
Profit decline due to lack of 1 time gain last year due to disposal of vessel.
Operating profit doubles to 11.2 Mio.
Book order is around 476 Mio.
Overall performance was alright with more work on higher margin vessels and FPSO.
This is my counter with exposure in the oil and gas industry. I am bullish with O&G industry in the mid term as the supply side is out of whack.
In this year PUM expects to deliver 9 vessels as compared to 6 vessels last year and with more work on higher margin vessels, this year should be another bumper year for PUM.
I expects EPS to be around 18 cents and dividend between 10-12 cents at least, giving a dividend of 6+ % of the current price of 1.85. This is supported by its big cash hoard of 40+cents.
Operating profit doubles to 11.2 Mio.
Book order is around 476 Mio.
Overall performance was alright with more work on higher margin vessels and FPSO.
This is my counter with exposure in the oil and gas industry. I am bullish with O&G industry in the mid term as the supply side is out of whack.
In this year PUM expects to deliver 9 vessels as compared to 6 vessels last year and with more work on higher margin vessels, this year should be another bumper year for PUM.
I expects EPS to be around 18 cents and dividend between 10-12 cents at least, giving a dividend of 6+ % of the current price of 1.85. This is supported by its big cash hoard of 40+cents.
Friday, April 27, 2007
HDB valuation market 2007 Q1
Average Valuation by Town & Flat Type
For 1st Quarter 2007 For 1st Quarter 2007
Town
1-Room
2-Room
3-Room
4-Room
5-Room
Executive
Ang Mo Kio
*
$123,000
$171,500
$257,000
$343,000
$455,000
Bedok
*
$122,100
$167,400
$224,600
$319,500
$381,200
Bishan
*
*
$171,600
$285,500
$378,000
$444,600
Bukit Batok
*
*
$155,000
$235,300
$315,400
$352,000
Bukit Merah
$86,500
$116,000
$186,900
$323,300
$412,800
*
Bukit Panjang
*
*
$150,600
$213,900
$275,700
$331,900
Bukit Timah
*
*
$209,000
$291,700
$335,000
$439,800
Central
*
$127,500
$222,800
$292,100
$386,000
*
Choa Chu Kang
*
*
$150,200
$225,600
$282,300
$336,600
Clementi
*
*
$180,300
$279,000
$377,200
$408,500
Geylang
*
$111,300
$159,400
$247,900
$327,700
$369,300
Hougang
*
*
$159,000
$220,600
$299,800
$350,700
Jurong East
*
*
$157,600
$224,600
$290,300
$353,000
Jurong West
*
*
$149,000
$215,700
$268,800
$326,300
Kallang/Whampoa
*
$117,600
$163,800
$276,900
$379,100
$400,900
Marine Parade
*
*
$218,000
$283,500
$435,400
*
Pasir Ris
*
*
$148,000
$242,600
$287,000
$367,700
Punggol
*
*
*
$249,200
$300,600
$357,600
Queenstown
*
$117,800
$174,300
$339,800
$441,100
$521,300
Sembawang
*
*
*
$226,400
$282,100
$334,600
Sengkang
*
*
*
$238,600
$293,700
$347,400
Serangoon
*
*
$161,200
$237,500
$293,900
$361,300
Tampines
*
*
$185,100
$249,200
$300,100
$379,600
Toa Payoh
*
$125,400
$174,400
$296,100
$392,000
$399,500
Woodlands
*
$91,000
$149,300
$213,000
$274,400
$349,400
Yishun
*
*
$152,100
$195,900
$272,300
$327,700
For 1st Quarter 2007 For 1st Quarter 2007
Town
1-Room
2-Room
3-Room
4-Room
5-Room
Executive
Ang Mo Kio
*
$123,000
$171,500
$257,000
$343,000
$455,000
Bedok
*
$122,100
$167,400
$224,600
$319,500
$381,200
Bishan
*
*
$171,600
$285,500
$378,000
$444,600
Bukit Batok
*
*
$155,000
$235,300
$315,400
$352,000
Bukit Merah
$86,500
$116,000
$186,900
$323,300
$412,800
*
Bukit Panjang
*
*
$150,600
$213,900
$275,700
$331,900
Bukit Timah
*
*
$209,000
$291,700
$335,000
$439,800
Central
*
$127,500
$222,800
$292,100
$386,000
*
Choa Chu Kang
*
*
$150,200
$225,600
$282,300
$336,600
Clementi
*
*
$180,300
$279,000
$377,200
$408,500
Geylang
*
$111,300
$159,400
$247,900
$327,700
$369,300
Hougang
*
*
$159,000
$220,600
$299,800
$350,700
Jurong East
*
*
$157,600
$224,600
$290,300
$353,000
Jurong West
*
*
$149,000
$215,700
$268,800
$326,300
Kallang/Whampoa
*
$117,600
$163,800
$276,900
$379,100
$400,900
Marine Parade
*
*
$218,000
$283,500
$435,400
*
Pasir Ris
*
*
$148,000
$242,600
$287,000
$367,700
Punggol
*
*
*
$249,200
$300,600
$357,600
Queenstown
*
$117,800
$174,300
$339,800
$441,100
$521,300
Sembawang
*
*
*
$226,400
$282,100
$334,600
Sengkang
*
*
*
$238,600
$293,700
$347,400
Serangoon
*
*
$161,200
$237,500
$293,900
$361,300
Tampines
*
*
$185,100
$249,200
$300,100
$379,600
Toa Payoh
*
$125,400
$174,400
$296,100
$392,000
$399,500
Woodlands
*
$91,000
$149,300
$213,000
$274,400
$349,400
Yishun
*
*
$152,100
$195,900
$272,300
$327,700
April 2007
As of April 07, YTD portfolio is up 19%. Not as good but considering that I am most of the time only 60% vested, the rest in cash, I am satisfied.
Pan United (50% gain in 1 month )and CSC (40% gain in 1 month) and Food Empire (100% gain in 1 month) had good returns for me.
However I was dragged down by LongCheer and Memtech.
This is my portfolio at present.
PUM
CSC
Metro
SMRT
Full Apex
Darco
TechComp
Ecowise
Superbowl
Pan United (50% gain in 1 month )and CSC (40% gain in 1 month) and Food Empire (100% gain in 1 month) had good returns for me.
However I was dragged down by LongCheer and Memtech.
This is my portfolio at present.
PUM
CSC
Metro
SMRT
Full Apex
Darco
TechComp
Ecowise
Superbowl
Year 2006
This was an excellent year for me. My portolio went up more than 160 %. Courtesy of Celestial which went up more than 180%.
It was a hectic year for me as I got married in January and my wife gave birth in October.
At 1 point, CN reached $2. I was in Germany on a business trip at that moment and did not take any action. I guess I made a cardinal mistake on falling in love with my stock. It droped in May to 1.04 and luckily I did not sell at the bottom. It rebounded and after I know it is not making much progress in their expansion, I sold most off at 1.55.
I also sold of my Eu Yan Seng as its PE was quite high around 15-20 and profits growth was only 10% or so.
In the beginning of the year, I bought Pan United Marine (0.6) and Asia Water (0.4). I later sold off Asia Water at close to 80 cents. (>90 %)
Later, I bought Food Empire as it was turning around (0.45), Memtech (3G) , Longcheer (3G).
My only regret this year was that I could easily made more if I did not fall in love with CN as a stock and should have sold off when there was a lot of profits and there was a change (Templeton sold was the triggering point)
It was a hectic year for me as I got married in January and my wife gave birth in October.
At 1 point, CN reached $2. I was in Germany on a business trip at that moment and did not take any action. I guess I made a cardinal mistake on falling in love with my stock. It droped in May to 1.04 and luckily I did not sell at the bottom. It rebounded and after I know it is not making much progress in their expansion, I sold most off at 1.55.
I also sold of my Eu Yan Seng as its PE was quite high around 15-20 and profits growth was only 10% or so.
In the beginning of the year, I bought Pan United Marine (0.6) and Asia Water (0.4). I later sold off Asia Water at close to 80 cents. (>90 %)
Later, I bought Food Empire as it was turning around (0.45), Memtech (3G) , Longcheer (3G).
My only regret this year was that I could easily made more if I did not fall in love with CN as a stock and should have sold off when there was a lot of profits and there was a change (Templeton sold was the triggering point)
Year 2005
2005 was a good year for me, my portfolio went up 68 %.
Suffering a bad results in 2004, I started cautiously, accumulating Straits Trading (2.11), SPC (4.04), Lee Kim Tah (0.3) and Beauty China (0.65).
Beauty China went up more than 40% in just 2 weeks by a brokerage by ML. So I sold off around 94 cents in January. A good start for the year.
I acquired some Zhongguo Powerplus, Hongguo, but later sold them off to accumulate my biggest stock winner, Celestial Nutrifood. It was sold at a riduculous PE 3-4 and was going to be a big giant in China in that industry. Slowly CN became my biggest portfolio >80 % , with average price of 38 cents. It went up more than 60% in 2005.
It was not only till another fund manager Templeton bought a stake into it then this company zoomed up.
My next big winner was Eu Yan Seng. I liked this company as with old age and better understanding of Modern China Medicine, I thnk the company can slowly scale up. It went up more than 90%.
Suffering a bad results in 2004, I started cautiously, accumulating Straits Trading (2.11), SPC (4.04), Lee Kim Tah (0.3) and Beauty China (0.65).
Beauty China went up more than 40% in just 2 weeks by a brokerage by ML. So I sold off around 94 cents in January. A good start for the year.
I acquired some Zhongguo Powerplus, Hongguo, but later sold them off to accumulate my biggest stock winner, Celestial Nutrifood. It was sold at a riduculous PE 3-4 and was going to be a big giant in China in that industry. Slowly CN became my biggest portfolio >80 % , with average price of 38 cents. It went up more than 60% in 2005.
It was not only till another fund manager Templeton bought a stake into it then this company zoomed up.
My next big winner was Eu Yan Seng. I liked this company as with old age and better understanding of Modern China Medicine, I thnk the company can slowly scale up. It went up more than 90%.
Year 2004
My record in 2004 was -11%. It was actually up 20 % by Chinese New Year, but returned everything as I made several bad investments.
I became over-confident with my investment skill or luck and dabbled in warrents thinking that with options experience from my US trading, I had more advantage in the Singapore Market.
I bought New Toyo warrants, believing that New Toyo was one of the biggest cigarette packaging manufacturer in SEA and will benefit from consumption boom. It has acquired a stake in Shanghai Asia - a cigarette packaging in China. Later it bought a stake in Tien Wah Press Holding, whose main customer was British American Tobacco.
New Toyo after converting the warrants became my biggest holdings, as I was under water and wanted the dividend (>4%). My lesson learnt is to advoid those companies who have hugh gearing, and not to dabble in warrants. This counter sinked more that 30%.
My 2nd biggest holdings was United Food. I was attracted by the low PE and high dividend. It was highly recommended by Wallstraits, a forum which had alot of insightful recommendations. I was actually a bit apprenhensive as they are venturing into all sorts of different areas eg. their soya bean plant. There was no synergy and low barieers of entry. After 2 quarters of bad results, I decided to call it a day. This counter sank about 10% from my costs as I average up from 35 cents to 55 cents. Lesson learnt, pay more attention to the nature and strength of the business then how cheap it is.
My other investments did manage however to lessen the losses. Pfood and Unisteel had very good returns for me.
I became over-confident with my investment skill or luck and dabbled in warrents thinking that with options experience from my US trading, I had more advantage in the Singapore Market.
I bought New Toyo warrants, believing that New Toyo was one of the biggest cigarette packaging manufacturer in SEA and will benefit from consumption boom. It has acquired a stake in Shanghai Asia - a cigarette packaging in China. Later it bought a stake in Tien Wah Press Holding, whose main customer was British American Tobacco.
New Toyo after converting the warrants became my biggest holdings, as I was under water and wanted the dividend (>4%). My lesson learnt is to advoid those companies who have hugh gearing, and not to dabble in warrants. This counter sinked more that 30%.
My 2nd biggest holdings was United Food. I was attracted by the low PE and high dividend. It was highly recommended by Wallstraits, a forum which had alot of insightful recommendations. I was actually a bit apprenhensive as they are venturing into all sorts of different areas eg. their soya bean plant. There was no synergy and low barieers of entry. After 2 quarters of bad results, I decided to call it a day. This counter sank about 10% from my costs as I average up from 35 cents to 55 cents. Lesson learnt, pay more attention to the nature and strength of the business then how cheap it is.
My other investments did manage however to lessen the losses. Pfood and Unisteel had very good returns for me.
Wednesday, April 25, 2007
2003 Investments
My investments in 2003 was fairly good about 37%, riding courtesy of the bull market after 3-4 years of bear market.
My first stock in Singapore was actually in Natsteel. By then, caution was the rule of that time. It was sort of a abitradge where the stock was languishing below the offer price by OHL. I entered at 1.77 and let go at 1.91. Too bad just made some coffee money.
This was the year where I recovered most of what I lost in the last 3 years as I had infusion of cash to invest.
First engineering was my first 3-bagger in my investment experience. It had very nich expertise in utlra-small plastic components. They have alot of insider buying as well.
Ufood and Pfood also became my top 3 investments.
My first stock in Singapore was actually in Natsteel. By then, caution was the rule of that time. It was sort of a abitradge where the stock was languishing below the offer price by OHL. I entered at 1.77 and let go at 1.91. Too bad just made some coffee money.
This was the year where I recovered most of what I lost in the last 3 years as I had infusion of cash to invest.
First engineering was my first 3-bagger in my investment experience. It had very nich expertise in utlra-small plastic components. They have alot of insider buying as well.
Ufood and Pfood also became my top 3 investments.
My records 2000-2002
2000-2002 I paid most of the money on tution fees
Surprise surprise, although I am a Singaporean, my first investments are in the US.
Year 2000 was the year I started my investment journey and it started of with a thumping.
My first 2 stocks were AMD and PALM.
PALM was the rage at that point of time, and it was just before the tech bubble burst. My thoughts were that PALM will continue to grow and be as big as a market as desktop. The PE was also spectacular, >500.
So as expected, the tech bubble burst, PALM became little more than a fancy gadget which did not take up . PALM crash from $60 to $17 after 2 quarters of profit warning. That was enough, I cash out. The rest was history as PALM after spltting shares went down the drain
So my first lessons were never overpay and to look at PEs as an indicator
Surprise surprise, although I am a Singaporean, my first investments are in the US.
Year 2000 was the year I started my investment journey and it started of with a thumping.
My first 2 stocks were AMD and PALM.
PALM was the rage at that point of time, and it was just before the tech bubble burst. My thoughts were that PALM will continue to grow and be as big as a market as desktop. The PE was also spectacular, >500.
So as expected, the tech bubble burst, PALM became little more than a fancy gadget which did not take up . PALM crash from $60 to $17 after 2 quarters of profit warning. That was enough, I cash out. The rest was history as PALM after spltting shares went down the drain
So my first lessons were never overpay and to look at PEs as an indicator
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