Something I find interesting and the price very appetising.
It has with other China stocks badly beaten up, dropping ( 60%) from a high of 1.63 to now 67 cents.
1 - cheap
2 - recession proof
3 - good ride on agriculture commodity play. Agricultural commodity run is in its infant stage. The metal commodities with all the infrastructure boom has started from 1999 to now. For Agricultural Commodity, I believe it started around 2003, which means it has 4-5 more years to run to catch up with the metal commodities. And at presently, AC is at 1st of 3 stages.
4 - a recent report which mentions that funds have the intention to put 10% of their money to agricultural commoditiy stocks.
5 - A remark by China's prime minister Wen Jiabao: "I have a dream - a dream to be able to provide all Chinese, especially our children, with half a litre of milk a day." The result has been a huge increase in milk consumption in China and demand is growing at a rate of around 25% a year. China’s milk consumption continues to be spurred by consumers demanding healthier and more nutritious foods. With rising affluence in the world’s fast-growing consumer market, there is a rapidly growing penchant for international food and beverage concepts which use a lot of milk and milk products. The PRC government has also been promoting the need for nutrition as evidenced by the government’s nation-wide School Milk Programme.
Why China Milk,
- With limited pasture land, China cannot continue to increase the number of cows to enhance its milk supply. China has much to catch up in terms of improving the milk yield of its cows.
- Based in the Heilongjiang Province, our subsidiary is the largest company specialising in the production of bull semen, dairy cow embryos and raw milk in China *
* According to China Dairy Industry Association
- It is building a 150 000 tonnes raw milk processing factory. They have signed a contract to provide OEM with raw milk, As of Jan qtr report, it has installed the milk machines by early march and will commence trial production for 1 month.
- The outbreak of mad cow disease in Canada and the U.S. in 2003 knocked the North American cattle industry on its back. The largest importers of U.S. and Canadian beef, including Japan, South Korea, and China, banned the import of beef from North America. But for China Milk Products, the restrictions proved to be a blessing in disguise. The privately owned raw milk company had already purchased 970 Canadian Holstein cattle. Its state-owned rivals failed to import as many cattle because they had to navigate government bureaucracy to get bank loans. Today, China Milk owns the largest herd of Holstein cattle in China and ranks 50th in BusinessWeek's annual Hot Growth rankings of Asia companies
Any rancher wanting to breed his cows with a Canadian Holstein has to go to China Milk. The company charges its customers $9.50 per sample of bull semen from a Canadian Holstein, compared with $6.75 from Australian Holsteins and $2.70 from Chinese Holsteins. However, Chinese ranchers are still willing to pay a premium for Canadian Holsteins, especially after receiving a little help from the government.
Starting this year, the Chinese government is giving Chinese ranchers a subsidy of $2 toward each sample of bull semen.
- China consumption of dairy products is about 20kg in 2006. It is a low base compared to other countries. With a greater awareness of nourishment with drinking of milk, and better life style (ice cream/butter/ yoghurt), demand will continue to increase
- Tourism will continue to be strong after the China Olympics. With more Ang mos visiting China, they will want their daily milk, butter, pasta, yoghurt, boosting demand.
Thursday, March 13, 2008
Thursday, February 21, 2008
A good analysis of Singapore property from a writer Qiaofeng from Channelnewsasia
Quote:
Experts say Grade A office rentals to continue rising in 2008 By Pamela Almeda, Channel NewsAsia Posted: 22 February 2008 0054 hrs
SINGAPORE : Rentals of Grade A offices in Singapore are expected to continue rising this year. According to property consultant Savills, average office rentals here may even nudge above that of Hong Kong's, currently the highest in the region. They added that Singapore's office property sector will continue to remain buoyant despite worries over the US sub-prime crisis. "Even in the current environment which is rather uncertain, we noticed that the financial services community is continuing to grow in Asia. And we noticed this in HK and in Singapore, so demand remains very strong here. That is going to continue to push up rents in the grade A office market," said Simon Smith, Deputy Managing Director, Savills Valuation and Professional Services. Savills is expecting prime office rents in Singapore to jump by 15-20% this year, down from the 90% jump in 2007. Vacancy rates for offices hit as low as 0.2% late last year. Savills said Singapore is attractive to overseas investors looking at the office property sector in the region. Robert McKellar, CEO (Asia Pacific), Savills Asia Pacific said: "Office is primarily very attractive. Of course, (there are) very few assets for sale and that makes it very difficult for any overseas investor to get access to stock. Nevertheless, if the opportunity arises, then definitely we'll go for a secure investment in Singapore. "For example some of the German open-ended funds that are increasingly wanting to have a bigger slice of the Asian real estate markets; they see Singapore as an attractive market because of the fact that its lots are risk-free. "They are looking to have a base from which to invest into the region, and (it's) ideal for them, acquiring an asset in Singapore which is risk-free, which has stabilised market, strong economy and low taxation." Meanwhile, another property consultant CB Richard Ellis (CBRE) is estimating that about 10.1 million square feet of new office space in Singapore will be completed by end of 2012. Some 67% of the supply coming into stream within the next three years is expected to be Grade A office space. This means a doubling of prime office space. CBRE said monthly rentals for prime office space averaged S$15 per square foot from October to December of last year, up 92% on year. It is expecting these to average S$17 per square foot by the end of the year. Meanwhile, luxury residences will also see prices jumping between 8-12% in 2008. - CNA /
Who to believe? Savills and CBRE...says Supply is catching up with demand and they say Office rentals will still rise.... as much as 15-20% this year.... CitiGroup....Wendy Koh .. plays contrarian ....... and says Supply will exceed demand... and cites oncoming demand averaging 3.2 m sq ft per year....... Who to believe? Careful study of the CitiGroup figures reveal they are using historical demand of 1.5 m sq ft per year....... So they are using historical demand to compare with future projected supply....Somehow the logic ......just don't jive...... but the report by CitiGroup seems to carry weight........ An update of current demand and a projection of future demand will be more enlightening.......
Quote:
Oversupply Looms In Singapore Office Sector: Citigroup 28/11/2007 It downgrades two stocks with key exposure to sector - KepLand, CityDev. Singapore is in danger of seeing an oversupply of office space from 2010 onwards, Citigroup is warning. The bank’s research unit has also downgraded two Singapore stocks with significant exposure to the office market here - Keppel Land and City Developments. ‘The market is underestimating the potential supply of new office space in 2010 and beyond, in our view,’ said Citigroup analyst Wendy Koh in research report dated Monday. ‘Based on our estimates, occupancy rates are likely to peak in 2008-09 and decline thereafter with the impending supply.’ Since May 2007, six new sites with a total gross floor area of 5 million sq ft have been awarded amidst fears of an office space crunch. These sites could add some 3 million sq ft of new office space in 2010-11, Citigroup estimates. Altogether, on average, 3.2 million sq ft of new supply could hit the market from 2010-12, the bank said. This compares to a historical average demand of 1.5 million sq ft per year. Supply estimates could rise even further with more government land sales in the first half of 2008, Citigroup said. All this will mean that buildings in core Central Business District will be competing for tenants. Key projects that are scheduled to be completed in 2010-12 include Marina Bay Financial Centre, the redeveloped Ocean Building One Financial Centre and the South Beach Road and Marina View land parcels. In response, Citigroup downgraded its ratings on office landlords Keppel Land and City Developments. Keppel Land was downgraded to a ’sell’ from a ‘hold’, while CityDev was rated a ‘hold’, from a ‘buy’ previously. ‘Going forward, we expect Keppel Land to face keen competition while marketing the remaining space at the Marina Bay Finance Centre and One Financial Centre,’ Ms Koh said. She cut KepLand’s revalued net asset value (RNAV) estimate to $7.83 (from $8.85) and target price to $6.26 (from $8.97). For CityDev, Citigroup cut its RNAV estimate to $14.47 from $15.28 and target price to $15.90 from $18.00 to reflect lower capital values of office buildings. Other analysts however said that all the new projects coming onstream will not cause an oversupply - rather, they will ensure that supply catches up with demand. ‘I think that there will be significant pent-up demand for office space that will only be satisfied when supply hits the market in 2010-11,’ said Moray Armstrong, CB Richard Ellis’ executive director for office services. This pent-up demand means that demand in 2010-11 will be significantly higher than the historical average, Mr Armstrong said.
Source: Business Times
Looking at CitiGroup's figures..... one wonders if URA and SLA..... are releasing too much supply...... and are missing the total supply picture? Or are they deliberately planning for the higher supply...... given that they are in touch with current projected demand? So Is City Dev.....Kepland......a BUY ing opportunity or a SELL...... U decide..... I was reading Capitaland' 2007 FY report and they have CBRE's figures.... in their report.... I have gleaned some figures from the Capitaland report released today… Source: URA, CBRE & CapitaLand Research (Jan 2008) • Average annual supply ('93-'07)…………….1.14 mil sq ft • CBRE projected annual take-up for 2007-2012 ..... 1.6 mil sq ft • Some future supplies have already been pre-committed, e.g. 1.6 mil sq ft in 2010 (MBFC) So lets look at the Overall picture..... Supply and Demand Forecast Figures by CBRE………taken from the report....
………….. … ….Supply………………….Demand……………Diff
2007 ……….- 0.5* mil sq ft …………...0.9*…..……….-1.4
2008………… 1.0 mil sq ft ……………...1.6………..…...-0.6
2009………… 1.4 mil sq ft ……………….1.6…….…....….-0.2
2010………… 2.7 mil sq ft …………… 1.6+1.6**………-0.5
2011………….3.8 mil sq ft………………. 1.6………..…...+2.2
2012………….1.1 mil sq ft ………….... 1.6……..…..…..-0.5
Total…………...8.4mil sq ft…….…....8.9……….…….-0.5
*Estimates from graph read-off **1.6 m sq ft pre-committed in MBFC So we see supply trying to catch up with demand until 2011...when supply exceeds demand....... then a reversion back in 2012..... Note these are estimates...and properties .....due to long gestation and construction periods ...have huge lag effects.... Nevertheless..... the whole scenario depends on the outlook....... that one has for the government globalistion plans for Sg The Remaking of Singapore into global city.... are U optimistic.....? - Will current growth in our efforts to be a regional financial centre pan out.....? - Will current trends like the Open Skies Treaties lead to better air connectivity and hence enhance Sg desirability as a regional centre.... - Will the Quality of living.....IRs...F1...YOG....Sg Flyer... New Botanic Gardens.....Enhanced by vibrant arts and entertainment scene...think Collyer and Boat Quays..... and Museums...lead to a higher desirability for expats to stay put..... and more HNWIs to relocate here....? For now CBRE is still projecting 10-15% rental growth and Savills ...see previous article by BT ...is projecting rental growth of 15-20% for prime office space... ...which will underpin capital values.....and Savills is saying German open ended funds...outlook on demand for ownership of Office properties are still strong.....showing high pre-commitment interests in future projects.... So maybe.... the Office Property scene is not as dour as CitiGroup......is projecting....... in its contrarian take on the Sg Office mkt.....
Quote:
Experts say Grade A office rentals to continue rising in 2008 By Pamela Almeda, Channel NewsAsia Posted: 22 February 2008 0054 hrs
SINGAPORE : Rentals of Grade A offices in Singapore are expected to continue rising this year. According to property consultant Savills, average office rentals here may even nudge above that of Hong Kong's, currently the highest in the region. They added that Singapore's office property sector will continue to remain buoyant despite worries over the US sub-prime crisis. "Even in the current environment which is rather uncertain, we noticed that the financial services community is continuing to grow in Asia. And we noticed this in HK and in Singapore, so demand remains very strong here. That is going to continue to push up rents in the grade A office market," said Simon Smith, Deputy Managing Director, Savills Valuation and Professional Services. Savills is expecting prime office rents in Singapore to jump by 15-20% this year, down from the 90% jump in 2007. Vacancy rates for offices hit as low as 0.2% late last year. Savills said Singapore is attractive to overseas investors looking at the office property sector in the region. Robert McKellar, CEO (Asia Pacific), Savills Asia Pacific said: "Office is primarily very attractive. Of course, (there are) very few assets for sale and that makes it very difficult for any overseas investor to get access to stock. Nevertheless, if the opportunity arises, then definitely we'll go for a secure investment in Singapore. "For example some of the German open-ended funds that are increasingly wanting to have a bigger slice of the Asian real estate markets; they see Singapore as an attractive market because of the fact that its lots are risk-free. "They are looking to have a base from which to invest into the region, and (it's) ideal for them, acquiring an asset in Singapore which is risk-free, which has stabilised market, strong economy and low taxation." Meanwhile, another property consultant CB Richard Ellis (CBRE) is estimating that about 10.1 million square feet of new office space in Singapore will be completed by end of 2012. Some 67% of the supply coming into stream within the next three years is expected to be Grade A office space. This means a doubling of prime office space. CBRE said monthly rentals for prime office space averaged S$15 per square foot from October to December of last year, up 92% on year. It is expecting these to average S$17 per square foot by the end of the year. Meanwhile, luxury residences will also see prices jumping between 8-12% in 2008. - CNA /
Who to believe? Savills and CBRE...says Supply is catching up with demand and they say Office rentals will still rise.... as much as 15-20% this year.... CitiGroup....Wendy Koh .. plays contrarian ....... and says Supply will exceed demand... and cites oncoming demand averaging 3.2 m sq ft per year....... Who to believe? Careful study of the CitiGroup figures reveal they are using historical demand of 1.5 m sq ft per year....... So they are using historical demand to compare with future projected supply....Somehow the logic ......just don't jive...... but the report by CitiGroup seems to carry weight........ An update of current demand and a projection of future demand will be more enlightening.......
Quote:
Oversupply Looms In Singapore Office Sector: Citigroup 28/11/2007 It downgrades two stocks with key exposure to sector - KepLand, CityDev. Singapore is in danger of seeing an oversupply of office space from 2010 onwards, Citigroup is warning. The bank’s research unit has also downgraded two Singapore stocks with significant exposure to the office market here - Keppel Land and City Developments. ‘The market is underestimating the potential supply of new office space in 2010 and beyond, in our view,’ said Citigroup analyst Wendy Koh in research report dated Monday. ‘Based on our estimates, occupancy rates are likely to peak in 2008-09 and decline thereafter with the impending supply.’ Since May 2007, six new sites with a total gross floor area of 5 million sq ft have been awarded amidst fears of an office space crunch. These sites could add some 3 million sq ft of new office space in 2010-11, Citigroup estimates. Altogether, on average, 3.2 million sq ft of new supply could hit the market from 2010-12, the bank said. This compares to a historical average demand of 1.5 million sq ft per year. Supply estimates could rise even further with more government land sales in the first half of 2008, Citigroup said. All this will mean that buildings in core Central Business District will be competing for tenants. Key projects that are scheduled to be completed in 2010-12 include Marina Bay Financial Centre, the redeveloped Ocean Building One Financial Centre and the South Beach Road and Marina View land parcels. In response, Citigroup downgraded its ratings on office landlords Keppel Land and City Developments. Keppel Land was downgraded to a ’sell’ from a ‘hold’, while CityDev was rated a ‘hold’, from a ‘buy’ previously. ‘Going forward, we expect Keppel Land to face keen competition while marketing the remaining space at the Marina Bay Finance Centre and One Financial Centre,’ Ms Koh said. She cut KepLand’s revalued net asset value (RNAV) estimate to $7.83 (from $8.85) and target price to $6.26 (from $8.97). For CityDev, Citigroup cut its RNAV estimate to $14.47 from $15.28 and target price to $15.90 from $18.00 to reflect lower capital values of office buildings. Other analysts however said that all the new projects coming onstream will not cause an oversupply - rather, they will ensure that supply catches up with demand. ‘I think that there will be significant pent-up demand for office space that will only be satisfied when supply hits the market in 2010-11,’ said Moray Armstrong, CB Richard Ellis’ executive director for office services. This pent-up demand means that demand in 2010-11 will be significantly higher than the historical average, Mr Armstrong said.
Source: Business Times
Looking at CitiGroup's figures..... one wonders if URA and SLA..... are releasing too much supply...... and are missing the total supply picture? Or are they deliberately planning for the higher supply...... given that they are in touch with current projected demand? So Is City Dev.....Kepland......a BUY ing opportunity or a SELL...... U decide..... I was reading Capitaland' 2007 FY report and they have CBRE's figures.... in their report.... I have gleaned some figures from the Capitaland report released today… Source: URA, CBRE & CapitaLand Research (Jan 2008) • Average annual supply ('93-'07)…………….1.14 mil sq ft • CBRE projected annual take-up for 2007-2012 ..... 1.6 mil sq ft • Some future supplies have already been pre-committed, e.g. 1.6 mil sq ft in 2010 (MBFC) So lets look at the Overall picture..... Supply and Demand Forecast Figures by CBRE………taken from the report....
………….. … ….Supply………………….Demand……………Diff
2007 ……….- 0.5* mil sq ft …………...0.9*…..……….-1.4
2008………… 1.0 mil sq ft ……………...1.6………..…...-0.6
2009………… 1.4 mil sq ft ……………….1.6…….…....….-0.2
2010………… 2.7 mil sq ft …………… 1.6+1.6**………-0.5
2011………….3.8 mil sq ft………………. 1.6………..…...+2.2
2012………….1.1 mil sq ft ………….... 1.6……..…..…..-0.5
Total…………...8.4mil sq ft…….…....8.9……….…….-0.5
*Estimates from graph read-off **1.6 m sq ft pre-committed in MBFC So we see supply trying to catch up with demand until 2011...when supply exceeds demand....... then a reversion back in 2012..... Note these are estimates...and properties .....due to long gestation and construction periods ...have huge lag effects.... Nevertheless..... the whole scenario depends on the outlook....... that one has for the government globalistion plans for Sg The Remaking of Singapore into global city.... are U optimistic.....? - Will current growth in our efforts to be a regional financial centre pan out.....? - Will current trends like the Open Skies Treaties lead to better air connectivity and hence enhance Sg desirability as a regional centre.... - Will the Quality of living.....IRs...F1...YOG....Sg Flyer... New Botanic Gardens.....Enhanced by vibrant arts and entertainment scene...think Collyer and Boat Quays..... and Museums...lead to a higher desirability for expats to stay put..... and more HNWIs to relocate here....? For now CBRE is still projecting 10-15% rental growth and Savills ...see previous article by BT ...is projecting rental growth of 15-20% for prime office space... ...which will underpin capital values.....and Savills is saying German open ended funds...outlook on demand for ownership of Office properties are still strong.....showing high pre-commitment interests in future projects.... So maybe.... the Office Property scene is not as dour as CitiGroup......is projecting....... in its contrarian take on the Sg Office mkt.....
Thursday, February 14, 2008
Happy Chinese New Year - Good Food
May the year of the Rat bring health and prosperity to everyone :)
I went over to my in-laws place on the 2nd day.
We went to "Fei Cui" Crystal Jade at Pegarang - Sungei Ringit.
The good food include Lobster (with herbs), Hor fun, and Fish(Assam and fried/baked).
I remember just before reaching there, go right (at the slight Y diversion road), right again , coming to Shell then turn left.
I went over to my in-laws place on the 2nd day.
We went to "Fei Cui" Crystal Jade at Pegarang - Sungei Ringit.
The good food include Lobster (with herbs), Hor fun, and Fish(Assam and fried/baked).
I remember just before reaching there, go right (at the slight Y diversion road), right again , coming to Shell then turn left.
Tuesday, February 5, 2008
Investments Strategy
Wallstraits forum has a thread about investment strategy.
I think this is mine.
I will consider mine as Growth Investing (Certain level of Moat) taking into account Macroeconomics environment coupled with short term trading.
Now the macro environment is bad and will get worse.
1) There was already a bull run from 2003 to 2007 (5 years)
2) The property bubble in the US has burst (It is in the news)
Someone will say if it is in the news, the share price has already discounted it. However I feel that is the tip of the iceburg and will be a self fulfilling prophecy making the housing market spin into the downturn, as from the peak it only drop about 1 year. It is still long way off. At least 1.5 - 2 years.
3) The CDOs in the finanicals are weapons of mass destruction. This will cause at least 1-2 major banks to crash.
4) The US property crash, the financial crash and after China olympics, investments in China will slow. Property markets in UK, Spain, Ireleand will also crash. The India economy which is highly dependant on the textile industry (about 50%) will also slow. China stock market is a bubble. I have heard stories that as there are many people playing the stock market, the company who employ them will hire someone full time so that the employees can concentrate on working.
What is my investment strategy now ? I guess cash (95%). I have made more than 7 times (600%) my investments from 2003. I was already cautious last year. This time is the 3rd time I am making the call that the downturn to be true.
Money can be made in the best times. In the worse times, I do not have the confident to make correct judgement calls. It is the best to stay in cash, and play my short term play.
I think this is mine.
I will consider mine as Growth Investing (Certain level of Moat) taking into account Macroeconomics environment coupled with short term trading.
Now the macro environment is bad and will get worse.
1) There was already a bull run from 2003 to 2007 (5 years)
2) The property bubble in the US has burst (It is in the news)
Someone will say if it is in the news, the share price has already discounted it. However I feel that is the tip of the iceburg and will be a self fulfilling prophecy making the housing market spin into the downturn, as from the peak it only drop about 1 year. It is still long way off. At least 1.5 - 2 years.
3) The CDOs in the finanicals are weapons of mass destruction. This will cause at least 1-2 major banks to crash.
4) The US property crash, the financial crash and after China olympics, investments in China will slow. Property markets in UK, Spain, Ireleand will also crash. The India economy which is highly dependant on the textile industry (about 50%) will also slow. China stock market is a bubble. I have heard stories that as there are many people playing the stock market, the company who employ them will hire someone full time so that the employees can concentrate on working.
What is my investment strategy now ? I guess cash (95%). I have made more than 7 times (600%) my investments from 2003. I was already cautious last year. This time is the 3rd time I am making the call that the downturn to be true.
Money can be made in the best times. In the worse times, I do not have the confident to make correct judgement calls. It is the best to stay in cash, and play my short term play.
Jan 2008 Investments
Was around 35 % vested going into the New Year. With China Milk and SMRT my big counters.
But the last day I saw Dow dropping heavy. Jia Luk, looks like it was a foreboding warning for me. I quickly pared down my holdings on the opening of 2008 to 14%. Looks like my hand itchy is getting me into trouble.
As expected, Dow continued dropping the next 2-3 weeks from 13200 to 11800+.
STI dropped from 3400+ to 2780+ about a drop of 20+%. I was already itching to go in, but I was waiting for Dow to drop before buying the next day. Monday was a US holiday you see, and STI drop 6% on Monday and about 5% on Tuesday but recovered to about 1.5%.
Well, helicopter Bernake in the early morning cut interest rate by 75 basis points to 3.5%, limiting losses to Dow. The next 1-2 weeks Dow rebounded to 12800, having 4 out of 5 days positive. STI also rebounded to 3100.
I tried to enter UOB the next day as I expected limited downside. little expect as the banks staged a late rally the day before, UOB after 1 hour + dropped into the red. I panicked and quickly cut of, sustaining losses (17.06 to 16.86). This shows that emotions is still running and affecting me. I should just wait out at least 1 week. It rebounded to a high of 18.6+...sigh.
Lesson learnt, control emotions , wait for 1 week at least. (Short covering, + oversold position. Any stable news will surge upwards)
Portfolio down by 1.3 % as compared to STI down more than 10 %.
But the last day I saw Dow dropping heavy. Jia Luk, looks like it was a foreboding warning for me. I quickly pared down my holdings on the opening of 2008 to 14%. Looks like my hand itchy is getting me into trouble.
As expected, Dow continued dropping the next 2-3 weeks from 13200 to 11800+.
STI dropped from 3400+ to 2780+ about a drop of 20+%. I was already itching to go in, but I was waiting for Dow to drop before buying the next day. Monday was a US holiday you see, and STI drop 6% on Monday and about 5% on Tuesday but recovered to about 1.5%.
Well, helicopter Bernake in the early morning cut interest rate by 75 basis points to 3.5%, limiting losses to Dow. The next 1-2 weeks Dow rebounded to 12800, having 4 out of 5 days positive. STI also rebounded to 3100.
I tried to enter UOB the next day as I expected limited downside. little expect as the banks staged a late rally the day before, UOB after 1 hour + dropped into the red. I panicked and quickly cut of, sustaining losses (17.06 to 16.86). This shows that emotions is still running and affecting me. I should just wait out at least 1 week. It rebounded to a high of 18.6+...sigh.
Lesson learnt, control emotions , wait for 1 week at least. (Short covering, + oversold position. Any stable news will surge upwards)
Portfolio down by 1.3 % as compared to STI down more than 10 %.
Thursday, January 31, 2008
Singapore will spend 20 billion Singapore dollars (US$14 billion; ?9.5 billion) to double its railway network
SINGAPORE - Singapore will spend 20 billion Singapore dollars (US$14 billion; S$9.5 billion) to double its railway network by 2020, the city-state's transport minister said Friday.
The new lines will also triple the network's load from 1.4 million journeys a day to 4.6 million, said Minister for Transport Raymond Lim said.
"The government has decided that all these rail projects are a necessary investment to ensure that our transport infrastructure meets the needs of a growing population and an expanding economy," Lim said.
Together with rail lines currently under construction, the new ones will double the network length from 138 kilometers (85 miles) to 278 kilometers (172 miles), he said.
A new line will be built to connect Woodlands in the north to downtown Marina Bay, where one of Singapore's two casinos is being built, while another line will be built to connect Marina Bay to the eastern parts of the island, along the coast.
The existing rail lines that run north to south and east to west will also be extended, he said.
"By 2020, people who live or work in the city and those who shop and find enjoyment there will be able to reach an MRT station within 400 meters (437 yards) on average, a mere five-minute walk," Lim said.
The Southeast Asian city-state projects its population will increase by more than 40 percent to 6.5 million over the next 40-50 years, based on current demographic trends. Leaders have urged land planners to explore new ways of creating space to accommodate the potential increase
The new lines will also triple the network's load from 1.4 million journeys a day to 4.6 million, said Minister for Transport Raymond Lim said.
"The government has decided that all these rail projects are a necessary investment to ensure that our transport infrastructure meets the needs of a growing population and an expanding economy," Lim said.
Together with rail lines currently under construction, the new ones will double the network length from 138 kilometers (85 miles) to 278 kilometers (172 miles), he said.
A new line will be built to connect Woodlands in the north to downtown Marina Bay, where one of Singapore's two casinos is being built, while another line will be built to connect Marina Bay to the eastern parts of the island, along the coast.
The existing rail lines that run north to south and east to west will also be extended, he said.
"By 2020, people who live or work in the city and those who shop and find enjoyment there will be able to reach an MRT station within 400 meters (437 yards) on average, a mere five-minute walk," Lim said.
The Southeast Asian city-state projects its population will increase by more than 40 percent to 6.5 million over the next 40-50 years, based on current demographic trends. Leaders have urged land planners to explore new ways of creating space to accommodate the potential increase
Sunday, January 20, 2008
Portfolio 2007 Review
This is the year where I was very cautious. Most of the time I had only about 50% invested.
My YTD performance is 35.55 %. Nothing fantastic, but satisfied. Most forummers I know have achieved 50-80%. Well, what to do if I extrapolate my performance with what I invested, it is around 70% ...yeah IQ jing shen.
Even though I tried to stay out of the market since Sep 07 as I knew things will get worse, I itchy hand went to buy China Milk and Darco. They have respectively fell and cut down my portfolio by 30+K.
Lesson learnt - Discipline means discipline. When you have decided the course of action, whether the market moves up, you should disregard it. Treat it as bo pian, ming bu shi ni de.
My biggest winner in terms of cash this FY is CSC, which more than doubled and contributed half of my gains . It is indeed a speculative stock, but constrution was in doldrums in the last few years, and with the government initiative to revamp Singapore with 2 Integrated Resorts, Sports Hub, Circle line and property boom in singapore, it was a strong beneficiary. It was cheap and it was a good play.
I bought mostly at 20 cents and sold most at 43 cents. A good thing is that I did have discipline and was not greedy. Make money - sell.
My next big winner is Pan United Marine. Although I bough at around 50+ cents a year ago, I have been entering and exiting it a few times. My cost this FY is around 1.6+ and was unfortunately had a mandatory take over by Dubai Drydocks. I sold it around 2.41 a cool 50% gain. It still had lots of cash, strong book orders till 2009 and generous dividends.
I had other good winners like Techcomp about 50% (32 - 50 cents) Ecowise (Doubled) and Superbowl (50%) but wasn't bought at big quantities to have much impact.
Now my failures.
i ) Longcheer, which I did not fundamentally understand its business landscape and competitors. I made the investment because of the 3G license which did not materialse. Its business model became focus more and more on low cost handphones and their profits plunge. Also, handphone makers also spin off their internal R&D departments and buy from this spin-offs. The cash cow perios was over.
ii) Memtech, also a play on 3G. It also has a high dividend rate, but I don't understand why it is still languishing.
iii) China Milk - still smarting because of high PE 13
Lessons learnt
- Be more discipline
- Research more into the companies businesss landscape before investing
- Given a choice buy companies with stronger pricing power
My YTD performance is 35.55 %. Nothing fantastic, but satisfied. Most forummers I know have achieved 50-80%. Well, what to do if I extrapolate my performance with what I invested, it is around 70% ...yeah IQ jing shen.
Even though I tried to stay out of the market since Sep 07 as I knew things will get worse, I itchy hand went to buy China Milk and Darco. They have respectively fell and cut down my portfolio by 30+K.
Lesson learnt - Discipline means discipline. When you have decided the course of action, whether the market moves up, you should disregard it. Treat it as bo pian, ming bu shi ni de.
My biggest winner in terms of cash this FY is CSC, which more than doubled and contributed half of my gains . It is indeed a speculative stock, but constrution was in doldrums in the last few years, and with the government initiative to revamp Singapore with 2 Integrated Resorts, Sports Hub, Circle line and property boom in singapore, it was a strong beneficiary. It was cheap and it was a good play.
I bought mostly at 20 cents and sold most at 43 cents. A good thing is that I did have discipline and was not greedy. Make money - sell.
My next big winner is Pan United Marine. Although I bough at around 50+ cents a year ago, I have been entering and exiting it a few times. My cost this FY is around 1.6+ and was unfortunately had a mandatory take over by Dubai Drydocks. I sold it around 2.41 a cool 50% gain. It still had lots of cash, strong book orders till 2009 and generous dividends.
I had other good winners like Techcomp about 50% (32 - 50 cents) Ecowise (Doubled) and Superbowl (50%) but wasn't bought at big quantities to have much impact.
Now my failures.
i ) Longcheer, which I did not fundamentally understand its business landscape and competitors. I made the investment because of the 3G license which did not materialse. Its business model became focus more and more on low cost handphones and their profits plunge. Also, handphone makers also spin off their internal R&D departments and buy from this spin-offs. The cash cow perios was over.
ii) Memtech, also a play on 3G. It also has a high dividend rate, but I don't understand why it is still languishing.
iii) China Milk - still smarting because of high PE 13
Lessons learnt
- Be more discipline
- Research more into the companies businesss landscape before investing
- Given a choice buy companies with stronger pricing power
Subscribe to:
Posts (Atom)
