Maturing debts in 1st half 2012.
Short hsi, stoxx 50, NASDAQ
Short hsi, stoxx 50, NASDAQ
Wednesday, December 28, 2011
Wednesday, December 14, 2011
2011 Dec update
Had a type 1 minimal displace fracture <2mm on my right hand on 25 sep . Could not bend nor straighten my right hand after trying to save my kid from falling off the sofa, went to ttsh a&e. 1week on half cast, 4 weeks on full cast. Was very itchy on my whole hand, and trouble bathing. Worse still it was the most busy part of my work.
Also I had planned a trip to hongkong, as my second son is just a week before 2 year old. With this, air ticket for 1 year old is ard 1/4 the price. We could also ask for extra baby cot in 1 room and did not have to book 2 rooms.
It was busy and sometimes difficult time in HK - had to push the stroller into crowded mrts, and carry the stroller above railings as there were only 1 or 2 exits where we could push the stroller through. 1 unforgettable experience was going up Victoria peak pushing the stroller from the mrt, really shack. Also the taxi driver and some passengers we ask told us the wrong station to get down. Luckily we asked several people to confirm, but nevertheless we went around a few station before finally getting to the right station.
But I simply love the food there. We went to tang dynasty for dinner and enjoyed the desserts. Then went to joy cuisine for dim sum breakfast - it was simply delicious- bird nest egg tart , chao sao boa ( with sause dripping out of the bao after taking a bite ) , hau kau , skew Mai etc.
After the HK trip my friends bought tickets for royal carribean - legends of the sea cruise. Overall it was an enjoyable trip as I enjoyed the variety shows, bingo game and the food was sueprisingly quite good. Besides my family, I also had 2 good friends accompanianship. I and a friend also team up to win the doubles table tennis competition haha..
Investment wise, I sold off sembcorp ind at 3.8 , a bit too early as basically the whole month of oct the stock market rally after 3-4 months of fall. I also sold off my risky stocks - sold off all my lithium stocks ( talison lithium 6% and orc 1% ) as I believe the electric car have too many hurdles before it take off and will need subsidy which prob may not be avail during crisis/ tough times .sold off boustead (cyclical), hour glass (did not like it's ballooning inventory), temp comp (Europe crisis), cerebos (Thailand flooding).
Have reduced my losses to 11%.
What I have left is ard 35%
- people's food (I believe it will improve profit after investing downstream - but may take some time as normally commercial farming takes place after the 4 th cycle where they are currently in the 2nd) . A play on agriculture where real assets are the one which matters. If hog prices goes down, it will benefit PF. If hog prices goes up, it will kill off other competitors. With its dorminant position, it should be well positiioned for growth.
Incidentally, I noticed that I first bought PF in 2003 at around 75 cents as well. for the last 8 years, the price has gone a whole cycle back to the same price. At these last 8 years, it has growth revenue 4 times larger, however profits has gone down because of high hog prices. With its huge investment downstream, I believe this willl rectify this issue and reap rewards in time to come
- Stamford land , where their assets are easily worth double the amount ard $1 as evident on a mou signed with a third party for some of their hotels, and contribution of the sold apartments in 2nd half the the fy due to the recognition of profit for property in Australia)
Will be looking for good profits in Q3 and Q4 (revenue recognition)
- sing holdings, mtq , smrt, popular , lkt.
Also took 55% against the market via HSI, Nasdaq, STOXX 50 Euro
Watch the Italian bond yields.
Gold has gone up straight last 11 years, it is no wonder it is breaking down, if not because of the Europe crisis, I would have shorted it.
Also I had planned a trip to hongkong, as my second son is just a week before 2 year old. With this, air ticket for 1 year old is ard 1/4 the price. We could also ask for extra baby cot in 1 room and did not have to book 2 rooms.
It was busy and sometimes difficult time in HK - had to push the stroller into crowded mrts, and carry the stroller above railings as there were only 1 or 2 exits where we could push the stroller through. 1 unforgettable experience was going up Victoria peak pushing the stroller from the mrt, really shack. Also the taxi driver and some passengers we ask told us the wrong station to get down. Luckily we asked several people to confirm, but nevertheless we went around a few station before finally getting to the right station.
But I simply love the food there. We went to tang dynasty for dinner and enjoyed the desserts. Then went to joy cuisine for dim sum breakfast - it was simply delicious- bird nest egg tart , chao sao boa ( with sause dripping out of the bao after taking a bite ) , hau kau , skew Mai etc.
After the HK trip my friends bought tickets for royal carribean - legends of the sea cruise. Overall it was an enjoyable trip as I enjoyed the variety shows, bingo game and the food was sueprisingly quite good. Besides my family, I also had 2 good friends accompanianship. I and a friend also team up to win the doubles table tennis competition haha..
Investment wise, I sold off sembcorp ind at 3.8 , a bit too early as basically the whole month of oct the stock market rally after 3-4 months of fall. I also sold off my risky stocks - sold off all my lithium stocks ( talison lithium 6% and orc 1% ) as I believe the electric car have too many hurdles before it take off and will need subsidy which prob may not be avail during crisis/ tough times .sold off boustead (cyclical), hour glass (did not like it's ballooning inventory), temp comp (Europe crisis), cerebos (Thailand flooding).
Have reduced my losses to 11%.
What I have left is ard 35%
- people's food (I believe it will improve profit after investing downstream - but may take some time as normally commercial farming takes place after the 4 th cycle where they are currently in the 2nd) . A play on agriculture where real assets are the one which matters. If hog prices goes down, it will benefit PF. If hog prices goes up, it will kill off other competitors. With its dorminant position, it should be well positiioned for growth.
Incidentally, I noticed that I first bought PF in 2003 at around 75 cents as well. for the last 8 years, the price has gone a whole cycle back to the same price. At these last 8 years, it has growth revenue 4 times larger, however profits has gone down because of high hog prices. With its huge investment downstream, I believe this willl rectify this issue and reap rewards in time to come
- Stamford land , where their assets are easily worth double the amount ard $1 as evident on a mou signed with a third party for some of their hotels, and contribution of the sold apartments in 2nd half the the fy due to the recognition of profit for property in Australia)
Will be looking for good profits in Q3 and Q4 (revenue recognition)
- sing holdings, mtq , smrt, popular , lkt.
Also took 55% against the market via HSI, Nasdaq, STOXX 50 Euro
Watch the Italian bond yields.
Gold has gone up straight last 11 years, it is no wonder it is breaking down, if not because of the Europe crisis, I would have shorted it.
Wednesday, October 5, 2011
Sep update
Continue my hectic schedule where in sept I had to cover innoXX 3 days and had a business review in langkawi. I had to during the weekends conduct house viewing which burnt my weekends.
Unfortunately I believe I just miss the window to sell the property , it was v quiet during July the ghost period and the stock market dived due to the Greek potential default problems.
My maid also went back in aug for HR, and we got a new p maid, who does things vv slow ( take 1 HR to wash dishes), and my young boy (1+) don't want her. He wants us parents to bath, pat him to sleep, wash hands/legs, change clothed etc. This transition was rather difficult.
As expected, my work suffered, and overlook for promotion again (4yrs).
My portfolio has also suffered. Portfolio down 22%, where talison was cut by half within 3 months. I was deliberating cutting loss, but did not do so. In a bear market, risky assets will drop a lot.
I took profit in 2 of best co, Visa (after the debit charge ruling) - although I sort of regretted it . And APB at 29 as it shot up v high from 18.
I cut loss in infineon as I believe cyclically the co had its margins at a v high level.(9.8) after which it slide to 6.9 in a matter of 2 months.
I bought CBI when it was dropping from 40 to 30,in a month and then fr 32 to 28,, I entered in albeit a small amount and contra at 31.
From that on , I was about 60% vested and 40% cash. I invested another 10% SCI 3.28 ( learnt my lesson) the last bear market to buy big caps.
And looking to buy further .I also bought M n Cht for my parents 40%
Unfortunately I believe I just miss the window to sell the property , it was v quiet during July the ghost period and the stock market dived due to the Greek potential default problems.
My maid also went back in aug for HR, and we got a new p maid, who does things vv slow ( take 1 HR to wash dishes), and my young boy (1+) don't want her. He wants us parents to bath, pat him to sleep, wash hands/legs, change clothed etc. This transition was rather difficult.
As expected, my work suffered, and overlook for promotion again (4yrs).
My portfolio has also suffered. Portfolio down 22%, where talison was cut by half within 3 months. I was deliberating cutting loss, but did not do so. In a bear market, risky assets will drop a lot.
I took profit in 2 of best co, Visa (after the debit charge ruling) - although I sort of regretted it . And APB at 29 as it shot up v high from 18.
I cut loss in infineon as I believe cyclically the co had its margins at a v high level.(9.8) after which it slide to 6.9 in a matter of 2 months.
I bought CBI when it was dropping from 40 to 30,in a month and then fr 32 to 28,, I entered in albeit a small amount and contra at 31.
From that on , I was about 60% vested and 40% cash. I invested another 10% SCI 3.28 ( learnt my lesson) the last bear market to buy big caps.
And looking to buy further .I also bought M n Cht for my parents 40%
Thursday, August 4, 2011
3 down 2 to go
As of now
1) MR lor ! Finally finished my 10 cycle, so it means no more struggling for my 2.4 km IPPT, which I feel is really taking a toll on my aging body.
2) InXX ½ Done. Finalised SP agreement for InXX, to be completed in 6 months (May to Oct). It is really taking too much of my time. There in the morning, evening. Now I am trying not to go back during weekends.
3) Finally after finding all the documents to explain the disposal of Assets& Liabilities, the officer processed the SO (by 5 months). Yeah !
4)PV ½ Done. I manage to get into PV with some help from my . Will do 1 year reading for young children which I feel is a very good thing to do
Left to sell the house, and complete the S&P by end October (3 more months – still need to get a secretary/maybe moving), and complete the PV by next year (starting 29th July).
Also settled getting our new maid as our current maid wanted to leave. She was a very great help during these 2 years and we could depend on her to take care of the little one, and also cook for both families at the same time. We wanted her to stay another year but her husband wanted her to go back and her mum wanted her to go back (as she felt her husband she work not her). We tried to increase her pay to 470, but to no avail.
Also my car aircon is spoilt. When we went for check up at Mazda center, they discovered that the alternator is spoilt as well (the battery light was on). They tried to charge 1900- 1300 (after discount). So I went to Sin Hwee Motor (they charge me 660, and change my aircon pipe 65).
1) MR lor ! Finally finished my 10 cycle, so it means no more struggling for my 2.4 km IPPT, which I feel is really taking a toll on my aging body.
2) InXX ½ Done. Finalised SP agreement for InXX, to be completed in 6 months (May to Oct). It is really taking too much of my time. There in the morning, evening. Now I am trying not to go back during weekends.
3) Finally after finding all the documents to explain the disposal of Assets& Liabilities, the officer processed the SO (by 5 months). Yeah !
4)PV ½ Done. I manage to get into PV with some help from my . Will do 1 year reading for young children which I feel is a very good thing to do
Left to sell the house, and complete the S&P by end October (3 more months – still need to get a secretary/maybe moving), and complete the PV by next year (starting 29th July).
Also settled getting our new maid as our current maid wanted to leave. She was a very great help during these 2 years and we could depend on her to take care of the little one, and also cook for both families at the same time. We wanted her to stay another year but her husband wanted her to go back and her mum wanted her to go back (as she felt her husband she work not her). We tried to increase her pay to 470, but to no avail.
Also my car aircon is spoilt. When we went for check up at Mazda center, they discovered that the alternator is spoilt as well (the battery light was on). They tried to charge 1900- 1300 (after discount). So I went to Sin Hwee Motor (they charge me 660, and change my aircon pipe 65).
Monday, August 1, 2011
Should I take over my Dad business and next step
Aug 2011
I have been delibrating whether I should take over my Dad's business. I am really stretched to the max to the extend I am thinking of whether to stop my own job. Anyway this is what I have considered
- My Dad's business annual turnover has deterioated from 1 Mio in 2007 to 600-700k last 2 years. My Uncle told me this and I agree with him, unless turnover is 3 Mio and above, there is a big opportunity cost to do so
- I don't have the strong domain knowledge of my dad's business (Precision engineering - carbide blanks/rods/diamond wheels)
- I can ease into Sales & Marketing, but my strength's s in business analsing and with the investment I have, I should concentrate my time & efforts on this
I have decided to continue with my present job & extra time for share investment and to find a potential buyer for my Dad's business (won't be easy).
And I have to do it fast. Why ? There are too many risks (for eg. my dad surbordinate to hankie pankie with the inventory / risk that my dad surbirdinate leave => after which the value of the company is almost zero as he is the one doing the operations of the job now/ surbordinate jump ship/ unmotivated), and monthly business may drop.
What's next : Super busy again
Dad's business
- power of attorney
- getting ready executive summary (need to get investment merits)
- look for investors
- continue to chase for payment; The last 2.5 months, I have managed to reduce accounts outstanding by 20+%. (did not expect that either) that from 390K to 304K. (about 12 K was errenous accounting - already paid like SuperU/HH). And I hope to reduce this by another 30K at least. 270K
- his dormant business have to get it settled wtih another shareholder, otherwise will be paying 2K+ for audit etc yearly ($$ wasted)
- Invoice paper
My property
- choose lightings
- choose curtains
- miscellaneous (confirming with designer + hanger)
Others
- get payment for mortage introducing fee
- help my mum/sis with reno + hospital bed/wheelchair etc/ medical checkup etc
I have been delibrating whether I should take over my Dad's business. I am really stretched to the max to the extend I am thinking of whether to stop my own job. Anyway this is what I have considered
- My Dad's business annual turnover has deterioated from 1 Mio in 2007 to 600-700k last 2 years. My Uncle told me this and I agree with him, unless turnover is 3 Mio and above, there is a big opportunity cost to do so
- I don't have the strong domain knowledge of my dad's business (Precision engineering - carbide blanks/rods/diamond wheels)
- I can ease into Sales & Marketing, but my strength's s in business analsing and with the investment I have, I should concentrate my time & efforts on this
I have decided to continue with my present job & extra time for share investment and to find a potential buyer for my Dad's business (won't be easy).
And I have to do it fast. Why ? There are too many risks (for eg. my dad surbordinate to hankie pankie with the inventory / risk that my dad surbirdinate leave => after which the value of the company is almost zero as he is the one doing the operations of the job now/ surbordinate jump ship/ unmotivated), and monthly business may drop.
What's next : Super busy again
Dad's business
- power of attorney
- getting ready executive summary (need to get investment merits)
- look for investors
- continue to chase for payment; The last 2.5 months, I have managed to reduce accounts outstanding by 20+%. (did not expect that either) that from 390K to 304K. (about 12 K was errenous accounting - already paid like SuperU/HH). And I hope to reduce this by another 30K at least. 270K
- his dormant business have to get it settled wtih another shareholder, otherwise will be paying 2K+ for audit etc yearly ($$ wasted)
- Invoice paper
My property
- choose lightings
- choose curtains
- miscellaneous (confirming with designer + hanger)
Others
- get payment for mortage introducing fee
- help my mum/sis with reno + hospital bed/wheelchair etc/ medical checkup etc
Tuesday, July 19, 2011
Damm why doesn’t it just die itself
I have been feeling very frustrated recently, to the point that I do not want to talk to my parents.
Besides this live company Inno, there is another dormant company ASE which has been giving me many headaches recently.
In mid-April, there was an email sent by ACRA to file its annual return by end April. When I checked it, it has not filed for 3 years since 2008.
So what the heck, I went to find out who its Accounts are, and from the last Audit report, the Auditor told me that they are only the Auditor, they are not the secretary nor the Accountant. They just brush me aside and say that just get an accountant next to ACRA to do it in International Plaza.
Later on when I called ACRA, they told me I have to file for 3 years and using XBL(?) system.
Ok then, when I looked at the reports, there is actually not much transactions (mainly FD interest). So I tried to do it myself using excel.
After awhile, I called ACRA again. This time the officer advised me that for every year I filed, I will get a penalty, so why not get it striked off ?
I discuss with my father, and told him to make a offer to AZJPN as we have already inform him of our intentions 1 year ago. The poor market and business sustaining losses since the start of the decade 2004 as more and more companies shift their base to China. Luckily within 1 month they accepted the offer.
I already had the experience of using Inno for the forms for the Transfer of Shares, so I retyped out the paper documents and got all Directors to sign (including my Uncle and Ishi (had to go all the way to Tuas). The difference is one is transfer of shares person & the other a company entity, also the company address is different, therefore I had to rewrite some of the documents to include a company chop, and certify that the company address had changed.
After this I sent the transfer forms to AZJPN by registered mail. In 2-3 weeks I receive them back with the signature and company chop.
So I proceeded to transfer the shares (as my Dad is the secretary) and when to IRAS website to get the e-stamp (Stamp duty).
My father meanwhile had wanted to hold the bank account as there was significant amount of A/R not received yet. However all these A/R were dated 2004 and earlier. I was v angry with my Dad. Here I am trying to clean up all the mess, yet he is still persistent trying to make things difficult as it is. I told me, if this was so important, he should have done it much earlier since 2004/2005. He wanted to get a lawyer to draft a letter to this customers. However first this will impact current business, secondly the accounts may already be paid back (from my experience of Inno where many accounts were not clean), thirdly it is going to be hard to get to get back the money after so long. I convince him that no way am I going to handle his already, I am already stretched to the limit !
Next I went to the bank to withdraw all cash/FD in my Father’s name. Now to close the account, it requires another signature from 2 directors. So I had to go to Bukit Timah to get my Uncle’s signature again, and to the bank another time to get it done.
Finally at end June, I applied for strike off. I thought I had settled another thing but 5 days later, the officer told me to account for all Ass&Lia disposal.
What the heck ! Now I have to hunt who the Accountant is / search through tons of paper to find all of these, and to make it worse even if we write off the Assets (taking a significant losses), we still had to account for the Liabilites.
Besides this live company Inno, there is another dormant company ASE which has been giving me many headaches recently.
In mid-April, there was an email sent by ACRA to file its annual return by end April. When I checked it, it has not filed for 3 years since 2008.
So what the heck, I went to find out who its Accounts are, and from the last Audit report, the Auditor told me that they are only the Auditor, they are not the secretary nor the Accountant. They just brush me aside and say that just get an accountant next to ACRA to do it in International Plaza.
Later on when I called ACRA, they told me I have to file for 3 years and using XBL(?) system.
Ok then, when I looked at the reports, there is actually not much transactions (mainly FD interest). So I tried to do it myself using excel.
After awhile, I called ACRA again. This time the officer advised me that for every year I filed, I will get a penalty, so why not get it striked off ?
I discuss with my father, and told him to make a offer to AZJPN as we have already inform him of our intentions 1 year ago. The poor market and business sustaining losses since the start of the decade 2004 as more and more companies shift their base to China. Luckily within 1 month they accepted the offer.
I already had the experience of using Inno for the forms for the Transfer of Shares, so I retyped out the paper documents and got all Directors to sign (including my Uncle and Ishi (had to go all the way to Tuas). The difference is one is transfer of shares person & the other a company entity, also the company address is different, therefore I had to rewrite some of the documents to include a company chop, and certify that the company address had changed.
After this I sent the transfer forms to AZJPN by registered mail. In 2-3 weeks I receive them back with the signature and company chop.
So I proceeded to transfer the shares (as my Dad is the secretary) and when to IRAS website to get the e-stamp (Stamp duty).
My father meanwhile had wanted to hold the bank account as there was significant amount of A/R not received yet. However all these A/R were dated 2004 and earlier. I was v angry with my Dad. Here I am trying to clean up all the mess, yet he is still persistent trying to make things difficult as it is. I told me, if this was so important, he should have done it much earlier since 2004/2005. He wanted to get a lawyer to draft a letter to this customers. However first this will impact current business, secondly the accounts may already be paid back (from my experience of Inno where many accounts were not clean), thirdly it is going to be hard to get to get back the money after so long. I convince him that no way am I going to handle his already, I am already stretched to the limit !
Next I went to the bank to withdraw all cash/FD in my Father’s name. Now to close the account, it requires another signature from 2 directors. So I had to go to Bukit Timah to get my Uncle’s signature again, and to the bank another time to get it done.
Finally at end June, I applied for strike off. I thought I had settled another thing but 5 days later, the officer told me to account for all Ass&Lia disposal.
What the heck ! Now I have to hunt who the Accountant is / search through tons of paper to find all of these, and to make it worse even if we write off the Assets (taking a significant losses), we still had to account for the Liabilites.
Sunday, June 26, 2011
June update
Continue to remain X busy.
Personal -
1) had to settle my mom's maid (the first one did not want to come last minute, the 2nd Myammese failed the English test 3 times, finally settled on a transfer maid) - Wk2 Tuesday Eve
2) had to settle my Dad's car which gave alot of trouble of late. The power steering hardened and was spoilt, and had to be changed $1100 , many pipes have to be changed as they were leaking oil , timer belt (400) , workmanship (400), altogether ard 3000. The mechanic from Hock Hwa suggested taking out the engine to repair it. And the total bill went up to $4000
3) had to settle my son's parental volunteer in Kong Hwa School. It is extremely competitve now adays with even doing a PV, u need to go for interview. (30 applicants out of 100). After not qualifying for the interview, we had to find many other ways to get inside.
Business -
1) In the process of closing up ASE.
- Changed the ACRA shareholding structure, submitted Estamp (Share Transfer). (Wk1Fri leave)
- Sat AM went to the bank with my Dad, but was told I needed the Company Stamp, Board Resolution (2 sign to close the bank acc), meanwhile got the forms signed and changed signature
- (had to go all the way to my Uncle's house to get the signature for the board resolution (Wk2 Tues Eve)
- Closed the bank account (Wk2 Wed AM leave)
- In the process of setting up the Bank Dividend template
- Next strike off the Company
I can really be a part time corporate secretary
2) Innom
Still wasting lots of time on it.
Wk 1 took 3 half day leave to cover N went he went for KL Business trip
Wk 2 had to struggle the whole week to get the pricelist of rods updated, took WK2 Mon AM leave & Wed AM leave
Next have to get the Plunger Questionaire done
Next FY closing and getting in a sec
Property - after trying to hold garage sale a few weeks, I started to advertise and sell the property. Times are not too good and there were little offers. Will update in another month.
Share -
1) Actually bought some Camdemco as I felt the Uranium crisis was overdone, but cut loss the following Monday when Merkel came out to announce phasing out of Nuclear plants. Was actually very stupid as I still do not have time to do comprehensive study. PE was still v high >20, so should not have gone it yet. Prior to the Japanaese EQ the Uranium sector was overvalued
2)Bought some Infineon as I wanted exposure to the new Smart Grid, EV, High Energy Costs play. It is ard 13 PE with cash about 20% its equity. But I have to becareful of gross margins (assumption that it continues to hold) as now we seem to be on the high of Business Cycle
3)Portfoilio down 10% , need to get rid of unwanted work! and concentrate what I do best
4)EV is slow to pick up, but estimate is 2013 where
Personal -
1) had to settle my mom's maid (the first one did not want to come last minute, the 2nd Myammese failed the English test 3 times, finally settled on a transfer maid) - Wk2 Tuesday Eve
2) had to settle my Dad's car which gave alot of trouble of late. The power steering hardened and was spoilt, and had to be changed $1100 , many pipes have to be changed as they were leaking oil , timer belt (400) , workmanship (400), altogether ard 3000. The mechanic from Hock Hwa suggested taking out the engine to repair it. And the total bill went up to $4000
3) had to settle my son's parental volunteer in Kong Hwa School. It is extremely competitve now adays with even doing a PV, u need to go for interview. (30 applicants out of 100). After not qualifying for the interview, we had to find many other ways to get inside.
Business -
1) In the process of closing up ASE.
- Changed the ACRA shareholding structure, submitted Estamp (Share Transfer). (Wk1Fri leave)
- Sat AM went to the bank with my Dad, but was told I needed the Company Stamp, Board Resolution (2 sign to close the bank acc), meanwhile got the forms signed and changed signature
- (had to go all the way to my Uncle's house to get the signature for the board resolution (Wk2 Tues Eve)
- Closed the bank account (Wk2 Wed AM leave)
- In the process of setting up the Bank Dividend template
- Next strike off the Company
I can really be a part time corporate secretary
2) Innom
Still wasting lots of time on it.
Wk 1 took 3 half day leave to cover N went he went for KL Business trip
Wk 2 had to struggle the whole week to get the pricelist of rods updated, took WK2 Mon AM leave & Wed AM leave
Next have to get the Plunger Questionaire done
Next FY closing and getting in a sec
Property - after trying to hold garage sale a few weeks, I started to advertise and sell the property. Times are not too good and there were little offers. Will update in another month.
Share -
1) Actually bought some Camdemco as I felt the Uranium crisis was overdone, but cut loss the following Monday when Merkel came out to announce phasing out of Nuclear plants. Was actually very stupid as I still do not have time to do comprehensive study. PE was still v high >20, so should not have gone it yet. Prior to the Japanaese EQ the Uranium sector was overvalued
2)Bought some Infineon as I wanted exposure to the new Smart Grid, EV, High Energy Costs play. It is ard 13 PE with cash about 20% its equity. But I have to becareful of gross margins (assumption that it continues to hold) as now we seem to be on the high of Business Cycle
3)Portfoilio down 10% , need to get rid of unwanted work! and concentrate what I do best
4)EV is slow to pick up, but estimate is 2013 where
Tuesday, May 17, 2011
The fastest year I have ever had
In May - Finally hit a milestone which was a relief - Manage to sell the company. Finish the 1st Share Transfer/Director Appt.& subsequent Bank A/C opening.
Next -
Company - Send Form C to Acct, Bank in A/C , collect $ from Carb/Skill/ Ikeda , source for carpet, Printer
Buy maid ticket (now her mother doesn't want her to work 1 more year)
Advertise for the house, sell the house
AS Enterprise (Do up the Share Transfer forms from the PB template, got Ishida to sign and Registered Post to Japan)
Staring June I Have to concentrate on my own career & and finally have some time ofr my Investment which has been horrible of late.
Next -
Company - Send Form C to Acct, Bank in A/C , collect $ from Carb/Skill/ Ikeda , source for carpet, Printer
Buy maid ticket (now her mother doesn't want her to work 1 more year)
Advertise for the house, sell the house
AS Enterprise (Do up the Share Transfer forms from the PB template, got Ishida to sign and Registered Post to Japan)
Staring June I Have to concentrate on my own career & and finally have some time ofr my Investment which has been horrible of late.
Tuesday, May 10, 2011
FY2011 Investment May
I had restructered my portfolio abit to be more link to the upsurge of commoditity prices. However I let go of JJG, which was lucky as it was just before the sell-off. My investment temperement right now is not really in the right frame of mind now as I seem to be buying on the high side.
My portfolio changes -
1) I sold off most of my Talison in January around 6+ and bought back at 5+ and 4+ as the valuations was becoming streteched.
2) I also sold of Western Uranium (due to the Japanese Disaster).
3) I sold Lithium One at 1.66 in January and bought back at 1.3 and resold it at 1.79. I then bought back at 1.7, albeit a small quantity
4) I bought more of People's Food, Cerebos and added Stamford Land.
5) I also sold off Singholdings at 36 cents but bought back at 32 cents, also selling Hock Lian Seng as it had been rather long since they have new orders. Both counters I sold off after our Singapore Government introduced new stricter property rules. Eg. you can only loan 60% if you still have a housing loan.
6) I sold of Spindex as the company could not cope with the drop in USD exchange rate and it was likely to worsen. As of now USD/SGD has further dropped to 1.23.
7) I also sold of Super to take profit and valuations was getting expensive and trimmed down Boustead as the contracts was not coming in, and due to the write off at Libya.
Current May Portfolio
1 People Food
2 Talisum Lithium
3 Stamford Land
4 Visa
5 Cerebos Pacific
6 Boustead
7 APB
8 Lithium One
9 Sing Holdings
10 Hour Glass
11 SMRT
12 MTQ
13 Soup Res
14 Techcomp
15 Lee KT
16 TNR Gold
17 Celestial
YTD down by 8%. Invested 71% 29% cash.
There are a few things which I am still monitoring to put cash into good use as now cash is really rubbish. Commodiites will be interesting, however with the raising of margin limits to flush out speculators, there might be further drops. Lithium / Natural Gas / Industrial Conglomerate plays are looking promising.
And yes, for the very first time, my name appeared on the Annual Report of a listed company. This may or may not be a good thing, let's see how things play out :)
My portfolio changes -
1) I sold off most of my Talison in January around 6+ and bought back at 5+ and 4+ as the valuations was becoming streteched.
2) I also sold of Western Uranium (due to the Japanese Disaster).
3) I sold Lithium One at 1.66 in January and bought back at 1.3 and resold it at 1.79. I then bought back at 1.7, albeit a small quantity
4) I bought more of People's Food, Cerebos and added Stamford Land.
5) I also sold off Singholdings at 36 cents but bought back at 32 cents, also selling Hock Lian Seng as it had been rather long since they have new orders. Both counters I sold off after our Singapore Government introduced new stricter property rules. Eg. you can only loan 60% if you still have a housing loan.
6) I sold of Spindex as the company could not cope with the drop in USD exchange rate and it was likely to worsen. As of now USD/SGD has further dropped to 1.23.
7) I also sold of Super to take profit and valuations was getting expensive and trimmed down Boustead as the contracts was not coming in, and due to the write off at Libya.
Current May Portfolio
1 People Food
2 Talisum Lithium
3 Stamford Land
4 Visa
5 Cerebos Pacific
6 Boustead
7 APB
8 Lithium One
9 Sing Holdings
10 Hour Glass
11 SMRT
12 MTQ
13 Soup Res
14 Techcomp
15 Lee KT
16 TNR Gold
17 Celestial
YTD down by 8%. Invested 71% 29% cash.
There are a few things which I am still monitoring to put cash into good use as now cash is really rubbish. Commodiites will be interesting, however with the raising of margin limits to flush out speculators, there might be further drops. Lithium / Natural Gas / Industrial Conglomerate plays are looking promising.
And yes, for the very first time, my name appeared on the Annual Report of a listed company. This may or may not be a good thing, let's see how things play out :)
Sunday, May 1, 2011
FY2011 Q1 Personal
Have been a hectic quarter in 2011.
At first I thought we had a agreement to sell the company to another third party. However the other party kept on dragging its feet.
Finally in the CNY in Feb, I reduce the price by 13% to reflect inventory obsoletion in the Japanese blanks and less some consumption of inventory .
In Jan -busy with preaparing CNY - food for CNY eve and first day ( have to go to Chinatown to buy the foodstuff , market etc) , decorations (Chinatown and Garden) ,
- busy with trying to close the deal
In February - CNY
In March - Reservist 1st week and inventory counting, 2nd week cover InXX while employee went for Penang customer visit, 3rd week - own company 3 years revenue projection alignment meeting
In April - QBR,
RT (manage to pass after 4 weeks),
got new maid for my Mum,
clean up the old house to sell,
AS Enterprise AR filing ( no need to file income tax - FORM C waiver done already ), after consulting ACRA as we have no filed the AR for 4-5 years, if we file now, every year there will be a penalty. If we have the intention to close the company, we can strike off.
InXX - Calculate 10 months Financial
At first I thought we had a agreement to sell the company to another third party. However the other party kept on dragging its feet.
Finally in the CNY in Feb, I reduce the price by 13% to reflect inventory obsoletion in the Japanese blanks and less some consumption of inventory .
In Jan -busy with preaparing CNY - food for CNY eve and first day ( have to go to Chinatown to buy the foodstuff , market etc) , decorations (Chinatown and Garden) ,
- busy with trying to close the deal
In February - CNY
In March - Reservist 1st week and inventory counting, 2nd week cover InXX while employee went for Penang customer visit, 3rd week - own company 3 years revenue projection alignment meeting
In April - QBR,
RT (manage to pass after 4 weeks),
got new maid for my Mum,
clean up the old house to sell,
AS Enterprise AR filing ( no need to file income tax - FORM C waiver done already ), after consulting ACRA as we have no filed the AR for 4-5 years, if we file now, every year there will be a penalty. If we have the intention to close the company, we can strike off.
InXX - Calculate 10 months Financial
Saturday, January 1, 2011
FY2010 Investment Journey
Current Investment
1 Talisum Lithium
2 Boustead
3 People Food
4 Super Group
5 Visa
6 Spindex
7 Lithium One
8 Hock Lian Seng
9 Cerebos Pacific
10 Metro
11 Sing Holdings
12 APB
13 Hour Glass
14 SMRT
15 MTQ
16 Soup Res
17 Techcomp
18 Lee KT
19 Western Uranium
20 TNR Gold
The only inclusion in december was Visa and Techcomp. The small caps in Singapore do not really suit me now.
In 2010, I divested most of Hiap Seng and Broadway in May. The reason why was I feel that flash will be more and more a dominant component for computers. The Ipad is an early indicator. Hiap Seng has already completed most of its projects (higher revenue recocnigition and cash position). I also had to take out some cash for my property.
In May, I also completely exited my commodity trades. I might increase my portfolio gains by another 30-40% if I have kept my position in gold/silver as after my dad incident, I do not have the emotional capacity to hold on to volaitle position, there are already too many things on my mind.
Things that got away. I had actually 2 baggers which doubled that I was holding, AAC and Eu Yan Sang, but I got shaken out by 2 occasion. AAC was a play on the booming smartphones, but I did not had enough time to do much study. too bad
2011 going forward
Going forward Boustead should perform alright in the correct industry (Energy/ Water / Real Estate ). With capable leaders like FF Wong running the helm, and boosted by close to 40 cents cash board, I expect shareholders to continue to be rewarded
Super should do well with its additionaly plant in China, commitment to payout a high dividend and its Taiwan dual listing visibility
It is heartening to see after 8 years that I have something to show for. Since 2003 I have made 10 times my capital. I will set a target to accomplish another 100x in 15 years.
FY03 1.3743
FY04 0.882
FY05 1.6745
FY06 2.5514
FY07 1.36
FY08 0.94
FY09 1.09
FY10 1.42
10.19476939
1 Talisum Lithium
2 Boustead
3 People Food
4 Super Group
5 Visa
6 Spindex
7 Lithium One
8 Hock Lian Seng
9 Cerebos Pacific
10 Metro
11 Sing Holdings
12 APB
13 Hour Glass
14 SMRT
15 MTQ
16 Soup Res
17 Techcomp
18 Lee KT
19 Western Uranium
20 TNR Gold
The only inclusion in december was Visa and Techcomp. The small caps in Singapore do not really suit me now.
In 2010, I divested most of Hiap Seng and Broadway in May. The reason why was I feel that flash will be more and more a dominant component for computers. The Ipad is an early indicator. Hiap Seng has already completed most of its projects (higher revenue recocnigition and cash position). I also had to take out some cash for my property.
In May, I also completely exited my commodity trades. I might increase my portfolio gains by another 30-40% if I have kept my position in gold/silver as after my dad incident, I do not have the emotional capacity to hold on to volaitle position, there are already too many things on my mind.
Things that got away. I had actually 2 baggers which doubled that I was holding, AAC and Eu Yan Sang, but I got shaken out by 2 occasion. AAC was a play on the booming smartphones, but I did not had enough time to do much study. too bad
2011 going forward
Going forward Boustead should perform alright in the correct industry (Energy/ Water / Real Estate ). With capable leaders like FF Wong running the helm, and boosted by close to 40 cents cash board, I expect shareholders to continue to be rewarded
Super should do well with its additionaly plant in China, commitment to payout a high dividend and its Taiwan dual listing visibility
It is heartening to see after 8 years that I have something to show for. Since 2003 I have made 10 times my capital. I will set a target to accomplish another 100x in 15 years.
FY03 1.3743
FY04 0.882
FY05 1.6745
FY06 2.5514
FY07 1.36
FY08 0.94
FY09 1.09
FY10 1.42
10.19476939
FY2010 flashback
It has been a very emotional , mental and physically draining year for me as Something happened to my dad which I had to take over his company. Effectively I am doing 2 jobs at a time, and my Mum who previously took care of my kids (4 and below baby) had now to take care of my dad, leaving my wife (who luckily can work from home temporarily) and me and at least my maid to take care of my kids. During this tough time, we also had to renovate our new house and pack/unpack our furniture.
The vivid impression that I had was the many evenings after work I had to bring along my 2 kids to look at furniture. One of the night we were looking for lights, and in the Balestier roads, we had to cross the overhead bridge with me carrying the baby up and down the bridge while my wife hold the eldest son hand, and after that I had to carry the pram up and down the bridge as well. It was really tough and no choice as there were no one to take care of my kids.
It is in such incidents where you really see who your true friends, family and relatives are. When I needed help esp from my in-law side to take care of my kids, my in-laws (my FIL did not want my MIL to come from Malaysia to stay with us and leave him alone), they only came sparingingly.
Fast forward this year, my wife needed to go back to work at least twice a week. I approached my Aunt (Dad sister) who is retired to help ( actually there is not much to do, as the maid will take care of the little one (feed/bath/make him sleep), is just to "See head See tail", when my maid eats, or cooks). She actually agreed, but her husband gave so many different excuses (eg, migrane lar, not well , have to cook lunch for her son and to do household chores etc). I got very fedup. If you do not want to help , fine.
Looking at the fireworks on New Year's eve from my new house, I had plenty of emotions running through me. It has been a bad year for me , even my eldest son fell sick (high fever 40C) on the last day of the year.
Looking back last year, there are still a few things that I could smile on
- My youngest son turned one year old
- we moved to a nice condo with very good view
- My family came closer
- I appreciated my wife who supported me during this tough time
- I manage through superhuman efforts to cope with my dad company (reduce A/C by more than 22%), manage to sell the company and lay out the strategic directions for next year
My dad is a very good Sales, however the Accounts were very bad. And at the same time my dad was on retirement mode, therefore Revenue has been fell quite badly in the last 2-3 years (albeit a slight rebound in 2010). The way I see to move the company forward is to explore overseas market (esp in Malaysia). And to turnover the company, it should not be too difficult as I feel that we just need to contact many old customers to increase revenue by 40-50% at least.
The vivid impression that I had was the many evenings after work I had to bring along my 2 kids to look at furniture. One of the night we were looking for lights, and in the Balestier roads, we had to cross the overhead bridge with me carrying the baby up and down the bridge while my wife hold the eldest son hand, and after that I had to carry the pram up and down the bridge as well. It was really tough and no choice as there were no one to take care of my kids.
It is in such incidents where you really see who your true friends, family and relatives are. When I needed help esp from my in-law side to take care of my kids, my in-laws (my FIL did not want my MIL to come from Malaysia to stay with us and leave him alone), they only came sparingingly.
Fast forward this year, my wife needed to go back to work at least twice a week. I approached my Aunt (Dad sister) who is retired to help ( actually there is not much to do, as the maid will take care of the little one (feed/bath/make him sleep), is just to "See head See tail", when my maid eats, or cooks). She actually agreed, but her husband gave so many different excuses (eg, migrane lar, not well , have to cook lunch for her son and to do household chores etc). I got very fedup. If you do not want to help , fine.
Looking at the fireworks on New Year's eve from my new house, I had plenty of emotions running through me. It has been a bad year for me , even my eldest son fell sick (high fever 40C) on the last day of the year.
Looking back last year, there are still a few things that I could smile on
- My youngest son turned one year old
- we moved to a nice condo with very good view
- My family came closer
- I appreciated my wife who supported me during this tough time
- I manage through superhuman efforts to cope with my dad company (reduce A/C by more than 22%), manage to sell the company and lay out the strategic directions for next year
My dad is a very good Sales, however the Accounts were very bad. And at the same time my dad was on retirement mode, therefore Revenue has been fell quite badly in the last 2-3 years (albeit a slight rebound in 2010). The way I see to move the company forward is to explore overseas market (esp in Malaysia). And to turnover the company, it should not be too difficult as I feel that we just need to contact many old customers to increase revenue by 40-50% at least.
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