Author Topic: The other side of the coin  (Read 6033 times)

Offline zuolun

  • Baronet
  • ****
  • Posts: 1,490
Re: The other side of the coin
« Reply #50 on: May 01, 2017, 11:18:00 AM »
Former entrepreneur of the year Nanz Chong-Komo said: "The writing was on the wall - the people who stayed believed; the people who didn't stay stopped believing in the leadership." ~ 24 Oct 2015

Turning Point: The rise and fall of entrepreneur Nanz Chong-Komo ~ 23 Apr 2017
http://www.straitstimes.com/singapore/back-with-fizz-after-the-fizzle
Once a high-profile member, Mrs Chong-Komo left City Harvest Church 5 years ago. The church has been in the news because 6 of its leaders were convicted of misappropriating church funds to launch the pop career of founder Kong Hee's wife Ho Yeow Sun.

Nanz Chong-Komo on taking charge of her life (video)
http://players.brightcove.net/4800266888001/default_default/index.html?videoId=5405944760001

Rise and fall and rise again of One.99 shop founder Nanz Chong-Komo



Netizens: Unfairness in the reduced sentences of six former CHC leaders ~ 7 Apr 2017
https://www.theonlinecitizen.com/2017/04/07/netizens-unfairness-in-the-reduced-sentences-of-six-former-chc-leaders/
Jason Teo wrote, ""None of the appellants could be said to have benefited, and their fault lies in adopting the wrong means, said the judges." What about their house in Sentosa and Beverly Hills? Pui!"

Singapore slashes jail term for showbiz pastor Kong Hee from 8 years to 3.5 years ~ 7 Apr 2017
http://pulse.ng/world/kong-hee-singapore-slashes-jail-term-for-showbiz-pastor-id6492644.html



City Harvest Church founder Kong Hee puts Sentosa Cove home for sale for $10m ~ 2 Jul 2015
http://www.straitstimes.com/singapore/city-harvest-church-founder-kong-hee-puts-sentosa-cove-home-for-sale-for-10m
Kong and five others are alleged to have misused $50 million of church funds and then falsified church accounts to cover up the misuse. They are accused of funnelling millions from the church's building fund to pay for the Crossover Project, to boost the music career of Kong's wife Ho Yeow Sun.



Singapore megachurch founder on trial for 'stealing more than $40million to fund his wife's American pop star dream' ~ 8 Oct 2013
http://www.dailymail.co.uk/news/article-2449010/Singapore-megachurch-founder-trial-stealing-40million-fund-wifes-American-pop-star-dream.html



From $127k flat to $9.3m condo ~ 29 Jun 2012
http://news.asiaone.com/News/Latest%2BNews/Singapore/Story/A1Story20120627-355770.html



Sun Ho lives in $28,000 a month rented Hollywood mansion ~ 20 Jun 2010
http://www.transitioning.org/2010/06/22/sun-ho-lives-in-28000-a-month-rented-hollywood-mansion/



Malaysia's Biggest Investment Forum

Re: The other side of the coin
« Reply #50 on: May 01, 2017, 11:18:00 AM »

Offline zuolun

  • Baronet
  • ****
  • Posts: 1,490
Re: The other side of the coin
« Reply #51 on: May 01, 2017, 11:49:13 AM »
Redefining affordable housing ~ 20 Apr 2017
http://www.nst.com.my/property/2017/04/232347/redefining-affordable-housing
“Rental for a semi-furnished unit at Danga View Apartment in Johor Baru was RM2,500 last year, but the same unit is going for RM1,500 this year.”



‘No acute housing woes if govt had used its lands for public housing’ ~ 20 Apr 2017
http://www.freemalaysiatoday.com/category/nation/2017/04/20/no-acute-housing-woes-if-govt-had-used-its-lands-for-public-housing/
Saying government land shouldn't be sold for commercial development, veteran property man adds its not too late to redevelop buildings such as Pudu Sentral and Keramat Mall into public housing.



Construction costs up 10% hobbling builders, Rehda survey shows ~ 20 Apr 2017
http://www.themalaymailonline.com/malaysia/article/construction-costs-up-10pc-hobbling-builders-rehda-survey-shows
The local association of developers said over half (56%) of its 165 members surveyed in 12 states between July and December last year had cited pricey costs of materials, labour, compliance to standards and the Goods and Services Tax as causing their overall business operations to increase by 10%.



Would rent-to-own be the solution to housing affordability woes? ~ 12 Oct 2016
http://www.thestar.com.my/business/business-news/2016/10/12/would-renttoown-be-the-solution-to-housing-affordability-woes/

Lower costs key to solving housing blues ~ 21 Sep 2016
http://www.thestar.com.my/opinion/columnists/the-star-says/2016/09/21/lower-costs-key-to-solving-housing-blues/


Offline zuolun

  • Baronet
  • ****
  • Posts: 1,490
Re: The other side of the coin
« Reply #52 on: May 02, 2017, 06:47:33 AM »
    Amid the ringgit’s slump, a tale of two families’ contrasting fortunes ~ 15 Apr 2017
    http://www.todayonline.com/singapore/amid-ringgits-slump-tale-two-families-contrasting-fortunes
    • As the Malaysian ringgit continues to notch new lows against the Singapore dollar, TODAY looks at how the fortunes of two families have changed.
    Mr Vasanthan Balachandran and his family used to have to think hard about stretching their 400 ringgit budget when shopping at the SongMart supermarket in the outskirts of Johor Baru. These days, they just buy whatever they feel like, largely thanks to the Malaysian currency’s unprecedented slump against the Singapore dollar. “We can just take a basket and drop everything we want. Life is sweet. Life is bling bling,” said the Malaysian, who earns about S$2,000  as a pre-boarding screening officer at Changi Airport.



    Earning in ringgit while having to spend in Singapore, the family of five - four Singaporeans and a Malaysian - soon discovered how tough life could get as their spending power fell dramatically. It had simply become too expensive for them to live in Singapore on Mr Anuar’s RM3,000 salary. With her husband’s salary shrinking in value from S$1,200 to S$950 due to the currency fluctuations, Madam Zainon and her children could no longer afford to spend a day in their home country without missing a meal.



    Compare: What you can buy with RM50 and S$50 at a supermarket ~ 15 Apr 2017
    https://admin.todayonline.com/singapore/what-one-can-get-rm50-s50
    With the Singapore dollar continuing to notch new record highs against the Malaysian ringgit, TODAY made two grocery runs at Giant supermarkets in Singapore and Johor Baru to see what this means for the average consumer (at an exchange rate of S$1 = RM3.17)

    What we bought with the equivalent of S$50 in Johor Baru:

    1.   1.8kg whole chicken (RM14.49)
    2.   3-litre bottle of Naturel canola and sunflower cooking oil (RM21.99)
    3.   500g box of Kellogg’s cornflakes (RM9.99)
    4.   505g can of condensed milk (RM3.06)
    5.   500g block of Buttercup butter spread (RM10.77)
    6.   600g jumbo loaf of original classic Gardenia bread (RM3.40)
    7.   2-litre bottle of floor cleaning agent (RM5.99)
    8.   Bunch of round spinach (RM1.99)
    7.   100g pack of chilli (RM1.69)
    8.   340g bottle of chilli sauce (RM1.99)
    9.   Five-pack Maggi instant noodles (RM4.79)
    10. 1kg pack of brown sugar (RM5.20)
    11. 2 cartons of 1-litre Marigold HL milk (RM11.99)
    12. 2kg pack of Fab anti-bacterial washing powder (RM14.39)
    13. 5kg pack of Thai fragrant rice (RM21.69)
    14. Tray of 30 fresh chicken eggs (RM8.09)
    15. 1kg pack of Milo mix (RM16.99)



    What we bought with S$50 in Singapore:

    1.   1kg whole chicken (S$6.60)
    2.   2-litre bottle of Naturel canola and sunflower cooking oil (S$8.70)
    3.   275g box of Kellogg’s cornflakes (S$3.65)
    4.   600g jumbo loaf of super soft & fine Gardenia bread (S$3.30)
    5.   3-litre bottle of floor cleaning agent (S$4.45)
    6.   Pack of Sio Peck Chye vegetables (S$0.75)
    7.   5kg pack of Thai fragrant rice (S$9.30)
    8.   Five-pack Maggi instant noodles (S$2.20)
    9.   800g pack of brown sugar (S$3.50)
    10. Tray of 30 fresh chicken eggs (S$3.85)
    11. 400g pack of Milo mix (S$3.95)



    What we bought with RM50 in Johor Baru:

    1.   505g can of condensed milk (RM3.06)
    2.   600g jumbo loaf of original classic Gardenia bread (RM3.40)
    3.   2-litre bottle of floor cleaning agent (RM5.99)
    4.   A handful of chilli (RM0.50)
    5.   340g bottle of chilli sauce (RM1.99)
    6.   Five-pack Maggi instant noodles (RM4.79)
    7.   1kg pack of brown sugar (RM5.20)
    8.   Tray of 30 fresh chicken eggs (RM8.09)
    9.  1kg pack of Milo mix (RM16.99)



    What we bought with the equivalent of RM50 in Singapore:

    1.   2-litre bottle of Naturel canola and sunflower cooking oil (S$8.70)
    2.   600g jumbo loaf of super soft & fine Gardenia bread (S$3.30)
    3.   Tray of 30 fresh chicken eggs (S$3.85)

    [/list]

    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #53 on: May 07, 2017, 07:28:22 AM »
    行到水穷处, 坐看云起时。

    Johor Baru to get more mega malls ~ 4 May 2017
    http://www.nst.com.my/property/2017/05/236418/johor-baru-get-more-mega-malls
    Shoppers and the business community in Johor are looking forward to the opening of new shopping malls this year.

    Paradigm Mall Johor Baru



    Mid Valley Southkey Megamall



    Kluang Mall



    Gander Mountain, popular gun and hunting store, closing nationwide ~ 6 May 2017
    http://www.charlotteobserver.com/news/local/article149059559.html
    The company’s closing is yet another reminder of the current climate in retail, where companies have competed with the growth of online shopping and customers flock to juggernauts like Amazon.



    US consumer credit $16.431B vs est $14.000B ~ 5 May 2017
    http://news.forexlive.com/!/us-consumer-credit-16431b-vs-est-14000b-20170505



    Marsh closing 9 more stores in central Indiana by end of May ~ 4 May 2017
    http://cbs4indy.com/2017/05/04/marsh-closing-9-more-stores-in-central-indiana-by-end-of-may/



    US first-quarter growth weakest in three years, as consumer spending falters ~ 28 Apr 2017
    http://www.cnbc.com/2017/04/28/first-estimate-of-2017-q1-gdp.html
    US Q1 GDP increased at a 0.7% annual rate. That was the weakest performance since the first quarter of 2014.



    Stores are closing at an epic pace ~ 22 Apr 2017
    http://money.cnn.com/2017/04/22/news/credit-suisse-retail/
    Physical store fronts have been eclipsed by ecommerce masters like Amazon. The toll it's taken can be seen in emptying malls and shopping centers across the country.

    Americans owe $1 trillion in credit card debt due to rising interest rates ~ 16 Apr 2017
    http://www.breitbart.com/big-government/2017/04/16/americans-owe-1-trillion-credit-card-debt-due-rising-interest-rates/
    U.S. consumers owe $1.0004 trillion in credit cards, up 6.2% from a year ago and 0.3% from January.



    Why so many stores are closing now ~ 7 Apr 2017
    https://www.forbes.com/sites/richardkestenbaum/2017/04/07/why-so-many-stores-are-closing-now/



    U.S. growth cools on trade drag as business spending rises ~ 27 Jan 2017
    https://www.bloomberg.com/news/articles/2017-01-27/u-s-economic-growth-cools-on-biggest-trade-drag-since-2010


    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #54 on: May 08, 2017, 10:03:25 AM »
    Capital controls, high-speed rail behind collapse of Bandar Malaysia deal? ~ 6 May 2017
    http://www.channelnewsasia.com/news/business/capital-controls-high-speed-rail-behind-collapse-of-bandar-8823716
    China's capital controls, bidding for the KL-Singapore High Speed Rail project and Bandar Malaysia's increased worth may have contributed to the collapse of a US$1.7 billion deal to offset a Malaysian state fund's debts.

    The mystery of an aborted deal ~ 5 May 2017
    http://www.mysinchew.com/node/117569
    The collapse of Bandar Malaysia deal has sent a powerful shockwave across the market. The Wall Street Journal reported that the Chinese authorities had not approved CREC's investment.



    China's deleveraging bill tops $500 billion ~ 8 May 2017
    https://www.bloomberg.com/news/articles/2017-05-07/china-deleveraging-bill-tops-500-billion-as-market-pain-spreads
    • Bonds, stocks and metals sink as regulators tackle leverage
    • JPMorgan Asset says markets may fall 10% before Beijing blinks





    Online king

    • King
    • ***********
    • Posts: 67,831
    Re: The other side of the coin
    « Reply #55 on: May 09, 2017, 03:23:49 PM »



    China has now become the biggest fear for markets
    Patti Domm   | @pattidomm
    8 Hours Ago
    CNBC.com
    86
    SHARES
     President of China, Xi Jinping.   More opportunities as China opens up: Mobius 
    Monday, 8 May 2017 | 1:46 AM ET | 02:40
    Stocks are at record highs, the VIX is at a 10-year low, and while investors are relieved the French presidency did not go to an anti-euro candidate, new risks are filling the void.

    Topping the list of market worries is China, which has been on the back burner for months now. Some weaker-than-expected data, however, has put spotlight on the country's economy.

    ADVERTISING

    Last week, PMI manufacturing data showed signs of slowing, and China's trade data overnight was weaker than expected, with misses both on imports and exports. Chinese inflation data was due Tuesday.

    "I'm more concerned about the risks stemming from a China slowdown," said Jeff Kleintop, Charles Schwab chief global investment strategist.

    Commodities have sold off on concerns. Copper was down about 3 percent last week amid concerns about China, and off another 1.4 percent Monday.

    "Some of this might be some warning signs that China could be the next thing that would throw the market a curve ball," he said. If the Chinese economy loses so much steam that its currency weakens a lot, and commodities continue to sell off, it could be a negative for other markets

    "The government has slowed down on infrastructure spending, thinking private sector spending would pick up and offset it. I'm just worried rising interest rates, tighter conditions and some new down payment requirements could nip that in the bud," Kleintop said.

    China President Xi Jinping is expected to consolidate his power later this year at the party congress in November. "Now that the political hatches are battened down, the main risks in the world today are still deflation, not inflation. A significant slowdown in China could be deflationary," said Paul Christopher, chief international investment strategist at Wells Fargo Investment Institute.

    Christopher added, however, that China has responded to signs of weakness and market sell offs, as in August 2015, by easing credit and stepping back from reform, when necessary.

    "For a long time, China was a high impact, low probability. Now the near term risk of a slowdown has a higher probability but probably a lower impact," he said. "Slowdown does not mean financial disruption."

     China growth is on target: Mobius   China growth is on target: Mobius 
    Monday, 8 May 2017 | 12:57 AM ET | 01:39
    He said the rest of the world is stronger and would hold up much better now than a year or two ago. "The Chinese have shown if they get into reform and the economy slows, they are able to moderate the speed of reform in order to maintain stability. They are not so gung ho on reform that they want to risk the stability of the markets," Christopher said.

    China's Shanghai index was lower Monday, while other Asian markets were higher. There were reports that officials are looking to curb some of the speculation there, and there has been talk of reform in the financial markets from cross market risk.

    Some of the other risks around China have eased however. President Donald Trump has said he would not call China a currency manipulator.

    "I think Xi has been very cautious in reacting to anything Trump has said," said Kleintop. "I think China's won any meeting they had with Trump or Trump officials. So far they've been coming out on top."

    "The unknown, unknowns are still out there. The VIX is quite low. The market is near a record high, and could we get a blip that causes a pull back? If it doesn't affect the economic recovery, our advice is still to buy," said Christopher.

    Christopher said China's economy is a bigger worry if the U.S. does not follow the reflation policies laid out by President Trump when he won the election. Markets have become skeptical of how quickly tax reform can be enacted, especially since the Senate plans to come up with its own health care bill.

    U.S. stocks held their ground Monday, and did not react much at all to the French election. The S&P 500 eked out a 0.09 point gain, closing at a record 2,399.38. The VIX, which is the CBOE, Volatility Index, fell 7.6 percent to a 10-year low of 9.77.

    China is also clearly a key in potentially resolving tensions over North Korea's nuclear program. Investors were watching for any activity from North Korea ahead of South Korea's presidential election Tuesday. The front-runner there, Moon Jae-In has signaled a more conciliatory tone toward North Korea, and a less friendly stance on the United States.

    "Geopolitical risk is one of those black swans where you can't predict the timing. You just watch. In the case of North Korea, what we're watching more carefully is whether there is another nuclear test," said Christopher. "That seems to be the red line President Trump has drawn and it's not clear what arrangements he's made with the Chinese...I really think they would have worked something out, in the event there's another nuclear test."

    He said it's unclear if either China or the U.S. would act without alerting the other.


    Online king

    • King
    • ***********
    • Posts: 67,831
    Re: The other side of the coin
    « Reply #56 on: May 11, 2017, 06:28:48 AM »



    主页 > 财经 > 国际 > 商长:国会行动慢 美国今年增长3%无望
    商长:国会行动慢
    美国今年增长3%无望
    10点看 2017年5月11日
     
    罗斯在办公室接受路透专访。

    (华盛顿10日讯)美国商务部长罗斯(Wilbur Ross)周二指出,美国经济今年达不到特朗普政府提出的3%增长目标,实现目标需要等到所有税收、监管、贸易和能源政策完全到位。


    罗斯在接受路透采访时说,国内生产总值目标“今年肯定达不到。”

    “国会在每件事情上都行动迟缓。” 但他指出,在特朗普总统有利于企业的政策全部实施到位后一年,增长目标最终有可能实现。

    他说,如果减税提案的推动在国会放慢速度,可能会有一些拖延。

    罗斯还暗示,特朗普政府将尝试利用现有工具积极实施贸易规定,并坚持为美国商品争取更公平的待遇,而不会采用特朗普在2016年竞选期间讨论过的老办法。

    这些评论似乎表明政府进一步向中间立场靠近,罗斯承认进口石油等带来的贸易赤字无可非议。

    “并非所有的美国贸易赤字一定是不利的,也不全是违反贸易协议造成的,因为有一些赤字无可非议,比如美国需要进口石油造成的赤字。”

    此外,罗斯说,商务部正在代表一些民间行业着手解决一些自行发起的反倾销和反补贴案,可能帮助这些行业免受不公平进口的侵害。

    “我相信,贸易执法将成为解决问题的一个主要工具。”

    3月职缺8个月新高

    美国劳工部周二公布的职位空缺和劳动力流动调查(JOLTS)报告显示,美国3月职位空缺数升至8个月高点,显示美国劳动力市场继续收紧。

    3月份职位空缺数上升6.1万,达574万人,而市场预期为573万,2月份修正为568万。而招聘人数自525万升至526万;招聘率为3.6%。

    “3月份美国非农就业报告低于预期,当月数据部分受到东北部暴风雪的打压。”

    虽然职位空缺数据高企,但目前显示企业仍然愿意招聘员工,但雇主难以找到高技能、有经验的劳动力来填补缺口。

    在连续数月薪资增速迟缓后,劳动市场收紧可能使得薪资出现突破性增长。


    Online king

    • King
    • ***********
    • Posts: 67,831
    Re: The other side of the coin
    « Reply #57 on: May 21, 2017, 06:42:00 AM »



    崇拜大鳄4误解/施宏毅
    657点看 2017年5月20日
    施宏毅

    施凌部署●施宏毅

    很多人误解,觉得大户有钱有人脉网络,就可以控制市场。

    大鳄或大行基本上他们带给我们非常多迷思。威力非常强大,但他们终归也是一个人,今天会跟大家分享四个我们对他们的误解。


    大行报告

    相信身边很多人或是你自己,都会十分留意大行报告,直接举一个例子:2月23日大摩公佈中海油未来60天股价跑赢同业。于是我们将昆仑能源﹑中石油﹑恆生指数去比较,若你买其他公司甚至是恆生指数也有赚,若你跟报告买入的话,不但跑输同业更要亏蚀收场。

    而美股方面亦是同样,5月4日高盛分析应该沽售特斯拉(Tesla),不过持股量上却不断增持。

    可想而知他的可信程度有多高,而且不同大行也有不同分析建议,到头来应该信那一间?最终还是要靠自己去判断。

    大户操控全球

    很多人误解,觉得大户有钱有人脉网络,就可以控制市场。先看全球首20家对沖基金资产,总数为5350亿美金(2.3兆令吉)。不过,标普500指数市值却超过20兆美金(86兆令吉),骤眼看下去已经知道金额上的差距。

    就算是其他指数,金额亦不足以完全控制市场,更何况他们亦不会联手一起行动。

    大户手影

    我们曾经回测,到底高沽空比率,是否等于大户沽出令恆生指数下跌。我们运用2年﹑5年及10年沽空比率资料,2年相关系数只有-0.197,证明效果不是太显着;而10年的话有-0.316,可能你就会觉得开始准确,然而资料是10年前,当时资讯仍未发达,可能真的只有几个人在操控市场,但现时单看沽空比率进行出入市,效果只会越来越差,更何况高沽空比率到底是不是由大鳄造成的呢。

    大户跑赢大市

    首先众所周知对沖基金拥有庞大资金,不过由1996年开始至去年,倒闭对沖基金数目却不断增加,甚至跟新创基金数目去到一致地步。

    如果你仍然成为对沖基金有憧憬的话,再举一个例子:十年前巴菲特向对沖基金对赌,十年后假如对沖基金能跑赢他挑选的指数基金的话,便会赔50万美金(215万令吉)。当时有基金经理挑出五只对沖基金应战。

    今年已去到最后一年,指数基金累计有85.4%回报,而最好的基金表现也只有62.8%,两者差距达两成多,证明选择工具得宜,纯粹买入持有已有不错表现。

    最后去年美国三大指数中,道指表现已是较差一只,只上升了13.54%,另一方面最好的对沖基金去年有44.2%回报,最差的却是-48%回报,若将不同基金表现比较,道指表现就是中位数,还要对沖基金平均表现约在0%。就算对沖基金在跌市时才发挥功用,但到头来又会变成是你自己操盘。

    所以现时你知道这些逻辑,便会知道大户不是完全无敌,亦因为如此,所以才显示出不同投资工具及选择基金的技巧。


    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #58 on: May 29, 2017, 07:37:24 AM »
    Shipping firm CMA CGM upbeat as profits rise again ~ 19 May 2017
    http://www.reuters.com/article/us-cmacgm-results-idUSKCN18F1I9
    Container shipping line CMA CGM posted higher first-quarter profits, helped by a turnaround at recently acquired NOL, and gave an upbeat assessment for the current quarter in another sign that the shipping industry is emerging from a slump.



    CMA CGM completes 100% acquisition of NOL ~ 5 Sep 2016
    http://www.seatrade-maritime.com/news/asia/cma-cgm-completes-100-acquisition-of-nol.html
    The French line announced it had completed the compulsory acquisition of all shares it did own in NOL following its SGD1.30 takeover offer. NOL is now wholly-owned subsidiary of CMA CGM and its shares will be delisted from the SGX at 9am on 6 September.



    Container shipping faces critical moment after years of losses ~ 22 Feb 2016
    https://www.ft.com/content/8b633cfa-e7f0-11e6-967b-c88452263daf
    Sector shows signs of revival after deals and new sector alliances shake up market.



    The shipping industry is suffering from China’s trade slowdown ~ 12 Feb 2016
    https://www.bloomberg.com/news/articles/2016-02-11/shipping-industry-suffering-from-china-s-trade-slowdown
    So many boats, so little cargo as Chinese exports and imports drop.


    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #59 on: June 11, 2017, 10:52:21 AM »
    Demand for high-end homes near Orchard road remains strong ~ 23 Sep 2016
    https://sg.finance.yahoo.com/news/demand-high-end-homes-near-002200298.html

    Malaysian developer pays S$72m for prime freehold site in Draycott Park near Orchard road ~ 7 Jun 2017
    http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=80094&name=EA_GA_ATTACHMENTS
    The total purchase consideration for the Property is S$72,000,000.00 equivalent to RM223,200,000.00, based on the exchange rate of SGD1.00 : RM3.10 and was agreed upon on a willing buyer and willing seller basis, after taking into consideration the potential for development of exclusive mid-rise apartments and the close proximity to Ardmore Park and Orchard Road.

    Losses mount in resale market ~ 20 May 2017
    https://sg.finance.yahoo.com/news/losses-mount-resale-market-003000928.html



    SRX: Month-on-month rise in private home resale prices comes to halt ~ 11 May 2017
    http://www.straitstimes.com/business/property/month-on-month-rise-in-private-home-resale-prices-comes-to-halt-in-april-while
    Month-on-month rise in private home resale prices comes to halt in April, while sales fall 21%

    URA reduces occupancy cap for private properties ~ 11 May 2017
    http://www.msn.com/en-sg/money/other/ura-reduces-occupancy-cap-for-private-properties/ar-BBB2FPV

    Russian oligarch suffers 50% loss on Singapore real estate sale ~ 30 Apr 2017
    http://www.zerohedge.com/news/2017-04-30/russian-oligarch-suffers-50-loss-singapore-real-estate-sale

    $1.8 mil loss at Orchard Scotts ~ 3 Dec 2016
    https://sg.finance.yahoo.com/news/1-8-mil-loss-orchard-020000244.html
    On Nov 15, $1.8 million went down the drain for the Indonesian seller of a 1,647 sq ft condominium at Orchard Scotts. He sold the unit at $1,427 psf to a Singaporean buyer after purchasing it at $2,540 psf in January 2012. This translates into a 44% loss for the seller, or 9% annualised loss over a holding period just shy of five years. However, as the Singapore dollar has appreciated against the Indonesian rupiah over the same period, the seller could have sustained a smaller loss of 25% in IDR terms, or $782,692 in SGD terms, after accounting for the exchange rate. Completed in 2008, Orchard Scotts is a 387-unit, 99-year leasehold development with two apartment towers and a serviced residence tower.

    Singapore dollar against the currency of other countries ~ 2011 to 2014



    "I've always preferred mythology to history. History is truth that becomes an illusion. Mythology is an illusion that becomes reality." ~ Jean Cocteau

    How to convert a S$3.2 million property loss into a S$1.5 million gain

    18 Jun 2015

    When an overseas buyer invests in a Singapore property, he (or she) is converting his home currency into Singapore dollar. As such, he is taking a currency bet.


    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #60 on: June 11, 2017, 01:34:59 PM »
    One Belt, One Road has no basis in China’s history ~ 9 Jun 2017
    http://www.livemint.com/Opinion/lrHNZQcdLcDN2eTtmbC9cK/One-Belt-One-Road-has-no-basis-in-Chinas-history.html
    Much of the writing on Obor has been project-specific or country-specific, but its whole is different from—indeed greater than—the sum of its parts. There is little analysis or evaluation from a wider perspective. It is, in effect, a portfolio of infrastructure projects—roads, railways, oil pipelines, power grids, information highways, ports, industrial corridors—to foster connectivity and support development. At the same time, it could use the excess capacities in railways, steel, metals and cement, to provide work for their construction companies, while using their experience of infrastructure projects.

    Why is China leaving Singapore out in the cold? ~ 3 Jun 2017
    https://www.aseantoday.com/2017/06/why-is-china-leaving-singapore-out-in-the-cold/



    Why China's 'One Belt, One Road' plan' is doomed to fail ~ 1 May 2017
    http://www.scmp.com/week-asia/opinion/article/1999544/why-chinas-one-belt-one-road-plan-doomed-fail
    • Eerie similarities with Japanese scheme 20 years ago suggests a future of white elephants, wasted money and corruption on a scale never seen before.
    • The idea that infrastructure projects in Central and South East Asia could absorb a sizeable portion of China’s excess industrial capacity is simply unrealistic.

    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #61 on: June 29, 2017, 07:33:36 AM »
    Well-known cancer surgeon gets 8-month suspension for professional misconduct ~ 28 Jun 2017
    http://www.todayonline.com/singapore/well-known-cancer-surgeon-gets-8-month-suspension-professional-misconduct
    Prominent cancer surgeon Ang Peng Tiam’s punishment for giving a former patient suffering from Stage 2B lung cancer false hope about her disease has been upped to an eight-month suspension.

    A rude, wrong cancer doctor ~ 8 Jun 2008
    https://healthpromotionblog.wordpress.com/2008/06/08/a-rude-wrong-unscientific-irresponsible-cancer-doctor/
    Total cost we spent in about 4 mth. ..>sgd500k…recommend Dr ang to anyone?

    Doctors tell all—and it’s bad
    https://www.theatlantic.com/magazine/archive/2014/11/doctors-tell-all-and-its-bad/380785/


    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #62 on: July 18, 2017, 08:24:10 AM »
    Competition forcing more cabbies to give up their taxis ~ 17 Jul 2017
    http://www.straitstimes.com/singapore/transport/competition-forcing-more-cabbies-to-give-up-their-taxis
    Ride-hailing is killing Singapore's taxi industry.



    私召车业者SIX正式进入本地市场

    2017年6月18日 星期日 11:52 AM
    文/李思敏

    (联合早报网讯)私召车业者SIX正式在本地推出共乘汽车服务,希望通过定额车资和独特的司机“引荐”模式,在本地私召车市场分一杯羹。

    由印度尼西亚企业家张天来(Radius Wibowo)前年成立的SIX目前只在美国休斯顿运作,该城市已有大约5000名司机,新加坡则是公司拓展业务的第二个城市。

    SIX今早举办发布会,正式宣布在本地推出私召车服务。

    张天来致辞时说:“SIX与其他业者最大的不同在于,我们不采取动态计费,乘客无须在需求过高或高峰时段支付较高的车费。”

    SIX新加坡业务执行总裁李文将受访时指出,已有超过1000名司机对加入SIX表示兴趣。“大家都非常踊跃,我们希望在接下来一年聘请一万名司机,为新加坡公众提供私召车服务。”

    另外,与其他私召车业者如优步和Grab不同的是,SIX采取司机“引荐”(referral)模式,司机除了能够从接载乘客赚取车资,他们每引荐一人加入公司当私召车司机,就可赚取额外5%的引荐费。

    李文将说:“这确保我们的司机就算在一周驾驶五天,每天驾驶八个小时的情况下,仍有可能赚取一年高达六位数的收入。”

    SIX目前只提供私召车服务,不过李文将透露,当局正与本地一家德士公司接洽,预计下个月起让乘客能够通过手机应用电召德士。

    Singapore has up to 1.5 times more private-hire cars than cabs ~ ~ 25 May 2017
    The number of chauffeur-driven private-hire cars has soared by nearly 70 times since Uber and Grab entered Singapore in 2013 to 41,297 units as at April 2017. As at the end of Apr 2017, it stood at 41,297 – 56% more than the total taxi population of 26,476.



    All hail the ride-hailing kings ~ 22 May 2017
    http://www.straitstimes.com/singapore/transport/all-hail-the-ride-hailing-kings
    Technological disruption has led to shake-ups across a wide variety of industries, causing some companies to boom and others to fade.



    Singapore’s new ride-hailing apps are set to fail, but that’s a good thing ~ 19 Apr 2016
    https://www.techinasia.com/singapore-taxi-booking-apps-uber-grab



    私人出租车预召软件需要规范? ~ 14 Oct 2015
    https://www.youtube.com/watch?v=35yc370b20c

    S'pore taxi companies losing millions from Grabtaxi and Uber competition ~ 10 Oct 2015
    http://statestimesreview.com/2015/10/10/singapore-taxi-companies-losing-millions-from-grabtaxi-and-uber-competition/

    Can't find cabs on the road? Try the yard ~ 10 Oct 2015
    http://www.straitstimes.com/singapore/transport/cant-find-cabs-on-the-road-try-the-yard

    Taxi booking app gets at least S$12.5m from Temasek unit ~ 9 Apr 2014
    http://www.todayonline.com/singapore/taxi-booking-app-gets-least-s125m-temasek-unit
    Temasek Holdings has pumped at least US$10m (S$12.5m) into 2-year-old start-up GrabTaxi, a smartphone app that lets commuters book any of the taxis nearest to their location, regardless of which company operates it. GrabTaxi announced it has received additional funding from Vertex Venture Holdings, a wholly-owned subsidiary of Temasek Holdings.



    ComfortDelgro ~ Bear Flag Breakout, interim TP S$2.12

    ComfortDelgro closed with a bullish engulfing @ S$2.26 (+0.03, +1.3%) with 16.3m shares done on 7 Jul 2017.

    Immediate support @ S$2.20, immediate resistance @ S$2.32.


    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #63 on: July 26, 2017, 01:37:35 AM »
    German car makers' shares crash on allegations of collusion ~ 24 Jul 2017
    http://www.telegraph.co.uk/business/2017/07/24/german-car-makers-shares-crash-allegations-collusion/

    BMW denies diesel cheating as EU, Germany probe auto cartel ~ 24 Jul 2017
    https://www.bloomberg.com/news/articles/2017-07-24/bmw-denies-diesel-cheating-as-regulators-probe-broader-cartel

    German automakers formed a secret cartel in the ‘90s to collude on diesel emissions: report ~ 24 Jul 2017
    https://www.theverge.com/2017/7/24/16021292/german-car-companies-cartel-diesel-emissions-90s

    Dieselgate product of vast VW-BMW-Daimler car cartel conspiracy, fresh report says ~ 22 Jul 2017
    https://www.forbes.com/sites/bertelschmitt/2017/07/22/dieselgate-product-of-vast-vw-bmw-daimler-car-cartel-conspiracy-fresh-report-says/#62a818b37ce8


    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #64 on: July 26, 2017, 11:27:20 AM »
    Offshore market trading for US$/ringgit no longer an issue ~ 26 Jul 2017
    http://www.thestar.com.my/business/business-news/2017/07/26/ndf-no-longer-an-issue/

    Foreign net buying below RM100m mark last week ~ 25 Jul 2017
    http://www.thesundaily.my/news/2017/07/25/*-last-week

    Foreign investors are cashing in on an emerging market with a booming currency ~ 25 Jul 2017
    http://www.cnbc.com/2017/07/25/foreign-investors-are-cashing-in-on-malaysias-improving-economic-prospects.html
    • Funds are flowing into Malaysia as the economy and local currency, the ringgit, strengthen, market participants said
    • Upcoming elections present risks, but investors should see volatility as an opportunity to cash in on a Southeast Asian growth story, they said
    Bank Negara’s international reserves at RM425.4b (US$99.1b) as at 14 July 2017 ~ 21 Jul 2017
    http://www.themalaymailonline.com/money/article/bank-negaras-international-reserves-at-rm425.4b
    The central bank issued a statement today saying that the reserves position is sufficient to finance 7.9 months of retained imports and is 1.1 times the short-term external debt.

    BNM forex losses: Nation lost RM4b annually ~ 28 Jun 2017
    https://www.nst.com.my/news/nation/2017/06/252703/bnm-forex-losses-nation-lost-rm4b-annually
    MALAYSIA would have had RM100 billion more in its foreign reserves if not for the foreign exchange (forex) losses scandal that happened in the 1990s, former Bank Negara Malaysia (BNM) assistant governor Datuk Abdul Murad Khalid said.

    Malaysian currency in free fall ~ 11 Aug 2015
    Reserves have fallen from about US$140 billion to around US$100 billion.

    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #65 on: September 16, 2017, 09:19:49 AM »
    “The crowd always loses because the crowd is always wrong. It is wrong because it behaves normally.” ~ Fred C. Kelly

    Cautionary tale of research reports
    http://www.thestar.com.my/business/business-news/2016/02/27/cautionary-tale-of-research-reports/

    In-house stock analysts' persistent BUY calls and price targets on Ezion were unanimously wrong (2 Jun 2014 to 22 May 2015)

    UBS shuns Singapore and Hong Kong housing markets ~ 15 Sep 2017
    https://www.bloomberg.com/news/articles/2017-09-15/ubs-shuns-singapore-hong-kong-housing-market-on-policy-risks



    Singapore private property prices to rise 10% by end-2018: Report

    By Rachael Boon
    12 Sep 2017

    Singapore property prices are set to jump 10% by the end of next year, according to United States banking giant Morgan Stanley.

    The bank's in-house experts expect private home prices to start rising next month - instead of early next year as it stated in a previous forecast. The forecast does not relate to Housing Board flats.

    The significant upswing in prices would reverse a four-year downcycle after a range of cooling measures was introduced to slow the market.

    "We see signs of an imminent turnaround from sharply rising transaction volumes, which suggest a narrowing of buyer and seller expectations, growth in prices from late June implied by the upward revision in the Urban Redevelopment Authority's price index value in the second quarter, and price increases in the resale segment as evidenced from higher frequency monthly indices," said the report.

    The bank explained that rising prices, along with developer sales volumes "sustaining a growth rate of more than 50 per cent year on year so far this year, suggest a much improved outlook for property developers after what has been a four-year downcycle".

    It also cited other positive market behaviour such as a recent surge in collective sales. It said this has displaced some 1,500 home owners across seven projects - estimated to get average proceeds of $1.8 million each. "With leverage, this adds up to $13 billion of potential capital inflows that could find their way back into the property market, more than the entire value of developer sales in 2016." The bank said more collective deals could be around the corner.

    Maybank Kim Eng analyst Derrick Heng had said in a separate recent report that more than $3 billion in collective-sale deals have been concluded so far this year, with another 30 properties at various stages of the en bloc process.

    Morgan Stanley noted unsold inventory has fallen to a record 22-year low of 17,000 units as of June, or 1.4 years on current sales volumes. "Inventory absorption accelerated on improving buyer sentiment and as households deployed excess cash after staying on the sidelines through the 2014 to 2016 lull...

    "Underpinned by rising demand outpacing tight supply, we believe the coming property price upcycle supports a combination of street revalued net asset value upgrades and narrowing revalued net asset value discounts, driving a further re-rating in developer stock prices," said Morgan Stanley.

    The bank noted City Developments has the largest land bank among its listed peers, at six years' worth, "and we believe, the highest earnings sensitivity to rising Singapore average selling prices, as well as highest share price sensitivity to rising property prices empirically".

    Recovery? What recovery? ~ 22 Aug 2017
    https://www.propertysoul.com/2017/08/22/recovery-what-recovery/#comments
    For Singapore private residential properties, there are still over 46,000 units in the pipelines. The government hasn’t stopped releasing new sites and we have just started the new round of en bloc fever.




    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #66 on: September 16, 2017, 10:17:52 AM »
    Distressing footage of sex slaves used by Japanese soldiers in WWII revealed for the first time ~ 6 Jul 2017
    http://www.mirror.co.uk/news/world-news/sex-slaves-used-soldiers-world-10747035

    慰安妇旧照揭日军丑恶暴行 ~ 27 Aug 2015
    https://www.youtube.com/watch?v=eiizUT8b9P0

    Women forced into sexual slavery by the Japanese in WWII tell their stories ~ 14 Aug 2015
    https://qz.com/479542/photos-women-forced-into-sexual-slavery-by-the-japanese-in-wwii-tell-their-stories/

    Japanese newspaper Asahi Shimbun apologises over false stories on Fukushima and WWII sex slaves ~ — 13 Sep 2014
    http://www.independent.co.uk/news/world/asia/japanese-newspaper-asahi-shimbun-apologises-over-false-stories-on-fukushima-and-world-war-two-sex-9731026.html


    Online king

    • King
    • ***********
    • Posts: 67,831
    Re: The other side of the coin
    « Reply #67 on: September 28, 2017, 07:17:14 AM »




    MarketWatch
    MARK HULBERT
    Get ready for the stock market’s October surprise

    By Mark Hulbert
    Published: Sep 26, 2017 11:51 am ET
    Investors can expect a bumpier ride down Wall Street


    Fasten your seatbelts. October is just around the corner, and historically it’s the most volatile month of all for stocks.

    The data are summarized in the chart, below. (For the statisticians among you: The standard deviation of the Dow Jones Industrial Average’s DJIA+0.25%   daily percentage changes in past Octobers is 1.44%, in contrast to 1.08% across all 12 months taken together.)



    You might think that October is an outlier because of the 1987 Crash; on Oct. 19 of that year the Dow fell 22%. But that year accounts for only a small portion of October’s above-average volatility; October tops the monthly volatility rankings even if we exclude 1987.

    To be sure, the data that appear in the accompanying chart are based on more than 100 years of history, and there is considerable variation in the historical record. So there is no guarantee that the stock market in October of this year will experience above-average volatility. But you probably should be prepared for it nonetheless, since — compared to price trends — volatility trends in the stock market tend to be relatively predictable.

    Read: Warning: ‘Group stink’ is as strong now as it was in 2000 and 2007, says fund manager

    How should you prepare for a volatile October? Probably the best way is to resolve not to panic if and when there is a spike in volatility. Despite the month’s dubious honor at the top of the volatility rankings, for example, its average performance is no worse than average — in seventh place, in fact, when ranked according to average Dow performance since that benchmark was created in the late 1800s. Since 2000, furthermore, October is in third place in a ranking of monthly performance, with an average gain of 1.84%.

    Another factoid that may help you stay the course in the face of a spike in volatility: far more bull markets have begun in October than have ended. This, by the way, is the source of October’s reputation as a “bear killer.”


    Majority of Wall Street CFOs believe this stock market is "bubblicious" (1:11)
    More than 80% of chief financial officers that accounting firm Deloitte surveyed think the U.S. stock market is overvalued and ready to pop.

    Consider the bull market calendar maintained by Ned Davis Research, according to which there have been 35 bull markets since the beginning of the last century. No fewer than eight of those bull markets began in October. If bull market beginnings had been randomly distributed across all months of the calendar, fewer than three would have begun in October.

    To be sure, no one way is saying that we’ll see a new bull market begin this October. But it’s worth noting that a below-average number of bear markets have begun during the month—just one of the 35 in the Ned Davis calendar did so, in fact.

    The bottom line: The stock market is due for a wild ride in October, but its volatility is not likely to spell the end of the bull market.

    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #68 on: October 05, 2017, 08:28:38 AM »
    20万香港底层的真实生存状态:我还没死,就住进了棺材房 ~ 4 Oct 2017
    https://www.sohu.com/a/196241273_313480



    A Hong Kong apartment sets an Asian price record, amid government curbs ~ 2 Oct 2017
    https://www.domain.com.au/news/a-hong-kong-apartment-sets-an-asian-price-record-amid-government-curbs-20171002-gys6o8/



    Hong Kong commercial property prices triple over past decade ~ 14 Sep 2017
    https://www.bloomberg.com/news/articles/2017-09-14/hong-kong-commercial-property-prices-triple-over-past-decade
    • Hong Kong’s gain followed by Manhattan, London, Singapore
    • Four cities including Amsterdam and Tokyo had price declines


    My week in Lucky House: the horror of Hong Kong's coffin homes ~ 29 Aug 2017
    https://www.theguardian.com/world/2017/aug/29/hong-kong-coffin-homes-horror-my-week



    Ghost of the 1997 Crisis stalks Hong Kong's economy ~ 22 May 2017
    https://www.bloomberg.com/news/articles/2017-05-21/ghost-of-97-stalks-hong-kong-economy-infected-by-housing-debt



    GuocoLand - Guoco Group JV submits top bid of $1.62 bil for Beach road police station site ~ 28 Sep 2017
    https://www.theedgesingapore.com/guocoland-submits-top-bid-1622-bil-beach-road-police-station-site



    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #69 on: October 19, 2017, 02:26:00 PM »
    一個大陸老師眼中的台灣 ~ 4 Jun 2017
    https://www.youtube.com/watch?v=JmnZ73W4zFQ





    义勇军进行曲 (March of the Volunteers)
    https://www.youtube.com/watch?v=Z7o3I0Ca3ts

    中國山
    https://www.youtube.com/watch?v=K1-ATHUcVuQ
    孫中山:「世界潮流,浩浩蕩蕩,順之則昌,逆之則亡!」

    没有共产党就没有新中国
    https://www.youtube.com/watch?v=5tCMI0uKbBE

    中華民國軍歌 - 我有一支槍
    https://www.youtube.com/watch?v=VoDjfcrJ2ss
    我有一枝槍,扛在肩膀上,子彈上了膛,刺刀閃寒光。
    我有一枝槍,扛在肩膀上,子彈上了膛,刺刀閃寒光。

    慷慨激昂,奔赴戰場,衝鋒陷陣誰敢擋!
    誓把敵人消滅盡,高唱凱歌還故鄉。

    我有一枝槍,扛在肩膀上。
    國家把它交給我,重責大任不敢忘。


    我有兩支槍
    https://www.youtube.com/watch?v=rS1o0DcKRNc
    我有兩支槍,長短不一樣,長的打共匪,短的打姑娘。
    我有兩支槍,長短不一樣,長的打共匪,短的打姑娘。

    慷慨激昂,奔赴雞場,衝鋒陷陣誰敢擋!
    誓把妹妹都上盡,高唱凱歌還故鄉。

    我有兩支槍,長短不一樣。
    上天把它交給我,重責大任不能(敢)忘。

    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #70 on: November 09, 2017, 08:26:13 AM »
    此战中的日军有多惨?好不容易活下来的日本人都生不如死 ~ 8 Nov 2017
    http://www.sohu.com/a/203150890_620996
    在太平洋战场上,20万日军死掉了19万。

    二战中日军最惨的一战 20万日军几近全灭
    http://jiemi.baike.com/pa/detail?id=55

    Japan's View of the Pacific War
    https://www.youtube.com/watch?v=8icQgHsBGzg

    新几内亚攻防战
    https://www.youtube.com/watch?v=XWzWlNxLA00

    新几内亚战役
    https://baike.baidu.com/item/%E6%96%B0%E5%87%A0%E5%86%85%E4%BA%9A%E6%88%98%E5%BD%B9
    新几内亚战役( 英文: New Guinea Campaign)太平洋战争期间,美澳盟军于1943年6月~1944年7月在新几内亚及其附近岛屿对日军实施的进攻战役。


    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #71 on: November 14, 2017, 09:00:32 AM »
    Wilmar International – Why Wilmar is my number 1 stock pick ~ 3 Feb 2014
    https://tradingstock4aliving.wordpress.com/2014/02/03/wilmar-international-why-wilmar-is-my-number-1-stock-pick/
    I have invested Wilmar International since September 2012 when price was at around SGD 3.10 with exchange rate at RM 2.46.Wilmar was my first foreign investment as all this while I am buying bursa stocks.

    马国人民买Wilmar的股票......

    五年前(Sep 2012),买入价是S$3.10左右,马币当时是RM2.46换S$1.00,现在是RM3.15换S$1.00。

    赢在对换率!


    Foreign exchange hedge
    https://en.wikipedia.org/wiki/Foreign_exchange_hedge
    The Singapore dollar is a good hedging currency against Malaysia ringgit.

    The USD-MYR currency is hovering at 4.20, the SGD-MYR currency is hovering at 3.15,past 3 months.

    USD-MYR ~ 1996 to 1998



    Wilmar ~ Trading in a downward sloping channel, TP S$2.98

    Wilmar closed with a hammer @ S$3.23 (-0.02, -0.6%) with volume done at 4.44m shares on 22 Sep 2017.

    Immediate support @ S$3.15, immediate resistance @ S$3.28.


    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #72 on: November 17, 2017, 06:26:55 AM »
    斩草不除根,春风吹又生。
    When a lizard breaks its tail, it won't die because it can regrow its tail completely.

    New Soul
    https://www.youtube.com/watch?v=6OmbjjWVhko



    At a record low, Hong Kong's penny stocks market reeks of dodgy dealings ~ 28 Jun 2017
    https://realmoney.thestreet.com/articles/06/28/2017/record-low-hong-kongs-penny-stocks-market-reeks-dodgy-dealings

    Hong Kong small cap stock plunge wipes out US$6.1 billion in value  ~ 27 Jun 2017
    https://www.bloomberg.com/news/articles/2017-06-27/hong-kong-small-cap-collapse-wipes-out-5-1-billion-this-morning
    • Index of GEM-listed companies saw biggest drop since 2015
    • China Jicheng, GreaterChina Professional fell more than 90%


    The Enigma Network: 50 stocks not to own ~ 15 May 2017
    https://webb-site.com/articles/enigma.asp

    Confessions of a market maker in Hong Kong’s penny stocks fiasco

    July 17, 2017

    The fiasco with Hong Kong’s penny stocks had been spreading like wildfire. How did it happen like this?

    Let’s imagine I’m one of the professional traders whose magic flute has many penny stock investors astray, down the abyss to their personal misfortune.

    But don’t blame me. I’m no different from the unsupervised child who finds the cookie jar open. I do what every kid does -- I gouge on cookies till I’m stuffed.

    I work in a securities firm you see, but my boss is no ordinary broker. He’s a chong kar (莊家) – market maker. He “made” the stock price of the listed companies he controlled.

    The trade craft is derived from ancient wisdom. First, make up some good news about a company. Then, the men on the right side of the room call in buy orders, while those on the left side sell them the stock, and vice versa.

    The price goes up and up, until the mom-and-pop investors take notice and pile in. Next announce a massive rights issue to scare off the little shareholders, so shares can be picked up at dirt cheap prices. When the timing is right, do it all over again.

    The crux is in knowing the right people. It’s a small tight circle of interesting people – legislators, casino princess, medical doctors and toy manufacturers. My boss brought me in but I was a nobody.

    To be in a class of my own, I must make it big, and quickly.

    My time was in 2011. Beijing had put new stock exchange listings on hold, amid a stagnant A-share market. Mainland Chinese investors were offering hundreds of millions of dollars for a listed shell company in Hong Kong.

    I began to cultivate shell companies. First I found a watch trader or wine store. Then I promised the founder a cut of the gain, cooked up the number to meet the listing requirements, and listed the company on the Growth Enterprise Market. The tick-box regulators rarely said no.

    I could even have my boys sign up as pre-listing investors for 49 per cent of the issues with only a few million dollars. It would look suspicious to many but not those in the Hong Kong Exchange.

    Those shell companies were the equivalent of two-course meals, with the price manipulation as appetiser and the year-end disposal as the main course. The rules were friendly to the practice, so it didn’t require a master chef to prepare the meal.

    Under the so-called full placement option, I simply gave the bookrunner a list of my 100 friends, to allocate shares to them. Many mainlanders were eager to loan me their name to get “asset” for their application as “capital migrants” to the city. That rule didn’t change until 2015.

    Don’t the regulators check the shareholders’ list? Theoretically yes, but the phones seldom ring. With every share under my control, I can do anything to the share price, whether it’s HK$1 or HK$10.

    Next I expand my empire into brokerage and money lending. Lend money to hot-headed entrepreneurs who pledge their listed companies to bet; push down the stock price; snatch control when the entrepreneurs can’t pay up or top up.

    I even published my own magazine for dispensing investment advice, and hired my team of key opinion leaders online. The old trick of investment “tips” remains, only the effects have multiplied by infinity in the internet age.

    By 2015, my empire had ballooned to control of more than 30 listed companies. I am finally in a class of my own.

    My peers said that’s too much. It’s expensive to maintain and too big an eyesore to regulators. That’s cowards talking. Yes, I had to gear up a bit but guts and smartness define success.

    A mainland buddy found me a solution: pyramid marketing, not of anti-cancer water, but asset-backed securities.

    Invest 10,000 yuan in Hong Kong stocks to get 200,000 yuan in three years! Bring in two friends to get 2,000 shares in real scripts! Three times’ leverage up! Price management by a Chong Kar!

    Only a mainlander could come up with these crazy slogans; they worked though. Chinese mom-and-pop investors piled in.

    It was a party until the regulators shut the cookie jar. No more full placement. No more spectacular price rise. No more new money. I starved.

    Dumping the shares is a no brainer. Does anyone seriously expect a Chong Kar to mind his reputation more than his money? You must be kidding me.

    Shirley Yam
    11 July 2017



    Offshore broker’s role in Singapore penny stock crash; the eight parties had appointed the same financial adviser, Algo Capital, which operates out of a Bishan address to trade on their behalf. They had also borrowed large sums to buy substantial stakes in Blumont, Asiasons and LionGold

    Offshore broker’s role in penny stock crash

    By Goh Eng Yeow
    Jan 15, 2014

    As the new year gets under way, hope springs eternal that the penny stock market will make a strong comeback despite the bashing it received three months ago. New players are in vogue, replacing those that have fallen by the wayside after they collapsed to a fraction of their year-high price in the dramatic October crash. Traders are hopeful that the Year of the Horse will cause the stock market to gallop in price, yet at the back of their minds is one big concern: Will any penny stock revival be the real McCoy? Concerns centre on the outcome of the investigation being conducted by the Monetary Authority of Singapore (MAS) and Singapore Exchange (SGX) over the odd trading activity surrounding the stock trio – Asiasons Capital, Blumont Group and LionGold Corp – before they crashed, wiping out over $8 billion in value in days.

    There have been all sorts of rumours and allegations circulating in the market on how the three counters achieved spectacular price surges last year and their subsequent crash.

    None of these rumours has been substantiated, but a court document filed here by United States online brokerage Interactive Brokers sheds some light.

    Interactive has asked a court to freeze the assets of eight of its clients – six individuals and two companies – that lost almost $80 million in total from the stock debacle.

    That court document makes for depressing reading. The allegation it contains seems to suggest how easy it is to subvert the local stock market using an offshore brokerage account.

    It begs the question as to whether offshore brokers have put sufficient checks in place to stop a stock manipulator from using their trading platforms to manipulate prices in Singapore’s market.

    How does an offshore broker check if the accounts that are opened with it are genuine or not? And on what criteria does it extend loans on the shares pledged to it as collateral for share trading?

    Would the malfeasance which Interactive purportedly uncovered ever come to light, if its erstwhile clients had not failed to make good on the massive losses which they had sustained in punting the stock trio?

    Interactive describes itself as an online broker catering to well-heeled individuals and institutions. It says it does not employ any human “brokers” or “advisers”. All trading is done online by customers or by independent financial advisers appointed by them.

    In hindsight, this would appear to make it far easier for a person to open a trading account with Interactive Brokers than with any of the nine traditional brokerages here serving retail investors. This is because the SGX requires the client to turn up in person at the brokerage.

    Interactive said it was only after the parties failed to make good their losses when the stock trio collapsed that it investigated further and found that there was something amiss.

    To adhere to Singapore’s regulations, its policy has been to prevent customers, whose legal residence is in Singapore, from trading Singapore-listed stocks.

    But it claimed that these parties “deliberately misled Interactive and/or engaged in multiple non-disclosures when applying to open their respective… accounts”.

    The six individuals had listed themselves as Malaysians and given Malaysian residential and mailing addresses, while the two companies were listed as British ****** Island-registered entities.

    But further checks after the stock trio’s crash suggested that “they are likely to be resident in Singapore and/or have a sufficient connection with Singapore”.

    Interactive noted the eight parties had appointed the same financial adviser, Algo Capital Group, which operates out of a Bishan address to trade on their behalf. They had also borrowed large sums to buy substantial stakes in Blumont, Asiasons and LionGold.

    But what must surely take the cake is Interactive’s belated acknowledgement that “many of the trades appear to serve no economic purpose and appear now to have been undertaken in a manner possibly to manipulate the share prices of the companies concerned”.

    Interactive noted that Algo often accounted for “substantial portions of the volume of total daily trades in LionGold shares, and even exceeded 80 per cent of the total trading volume on certain days”.

    The same trading pattern exists in Asiasons, where Algo’s trading volume “was as much as 67 per cent on some days”.

    “(Algo) often sold a large block of shares at a given price in one or more of the (parties’) accounts, then quickly re-purchased approximately the same number of shares at the same price, putting the accounts back where they started, but giving the market the appearance that the stocks were more heavily traded than they really were,” it alleged.

    Now, if any remisier is so brazen as to indulge in similar trading behaviour, he will surely be hauled up by the SGX’s market surveillance team for questioning.

    The question is that since Interactive is based offshore serving foreign customers, whose responsibility is it to ensure that it is up to scratch in keeping similar market misbehaviour at bay?

    Of course, it is difficult to tell how much truth there is in Interactive’s claims since its objective is to recover as much of its losses as possible.

    But unless the MAS and SGX conclude their probe speedily, the uncertainties will continue to cast a pall over the market and make retail investors even more cynical about penny stocks. It is in the best interests of all to make haste on the investigation.

    Offline zuolun

    • Baronet
    • ****
    • Posts: 1,490
    Re: The other side of the coin
    « Reply #73 on: November 18, 2017, 09:27:49 AM »
    How Alibaba is integrating e-commerce with brick-and-mortar shopping ~ 17 Nov 2017
    https://www.psfk.com/2017/11/how-alibaba-is-integrating-e-commerce-with-brick-and-mortar-shopping.html
    Alibaba opened a new retail store where they integrated several digital technologies to make life easier for customers

    Retail alert: 63 Sears and Kmart stores are closing in January 2018 ~ 3 Nov 2017
    http://clark.com/shopping-retail/major-retailers-closing-2017/

    A record amount of brick and mortar stores will close in 2017 ~ 26 Oct 2017
    http://fortune.com/2017/10/26/a-record-amount-of-brick-and-mortar-stores-will-close-in-2017/


    Malaysia's Biggest Investment Forum

    Re: The other side of the coin
    « Reply #73 on: November 18, 2017, 09:27:49 AM »