Author Topic: The other side of the coin  (Read 188195 times)

Offline zuolun

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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
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)

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
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

City Harvest Church founder Kong Hee puts Sentosa Cove home for sale for $10m ~ 2 Jul 2015
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

From $127k flat to $9.3m condo ~ 29 Jun 2012

Sun Ho lives in $28,000 a month rented Hollywood mansion ~ 20 Jun 2010

Offline zuolun

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Re: The other side of the coin
« Reply #51 on: May 01, 2017, 11:49:13 AM »
Redefining affordable housing ~ 20 Apr 2017
“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
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
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

Lower costs key to solving housing blues ~ 21 Sep 2016

Offline zuolun

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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
    • 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
    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)


    Offline zuolun

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    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
    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
    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!/us-consumer-credit-16431b-vs-est-14000b-20170505

    Marsh closing 9 more stores in central Indiana by end of May ~ 4 May 2017

    US first-quarter growth weakest in three years, as consumer spending falters ~ 28 Apr 2017
    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
    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
    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

    U.S. growth cools on trade drag as business spending rises ~ 27 Jan 2017

    Offline zuolun

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    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
    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
    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
    • Bonds, stocks and metals sink as regulators tackle leverage
    • JPMorgan Asset says markets may fall 10% before Beijing blinks

    Online king

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    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
     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.


    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

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    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
    10点看 2017年5月11日

    (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。


    “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。













    Online king

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    Re: The other side of the coin
    « Reply #57 on: May 21, 2017, 06:42:00 AM »

    657点看 2017年5月20日



















    Offline zuolun

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    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
    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
    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
    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
    So many boats, so little cargo as Chinese exports and imports drop.

    Offline zuolun

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    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

    Malaysian developer pays S$72m for prime freehold site in Draycott Park near Orchard road ~ 7 Jun 2017
    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

    SRX: Month-on-month rise in private home resale prices comes to halt ~ 11 May 2017
    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

    Russian oligarch suffers 50% loss on Singapore real estate sale ~ 30 Apr 2017

    $1.8 mil loss at Orchard Scotts ~ 3 Dec 2016
    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

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    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
    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

    Why China's 'One Belt, One Road' plan' is doomed to fail ~ 1 May 2017
    • 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

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    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
    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
    Total cost we spent in about 4 mth. ..>sgd500k…recommend Dr ang to anyone?

    Doctors tell all—and it’s bad

    Offline zuolun

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    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
    Ride-hailing is killing Singapore's taxi industry.


    2017年6月18日 星期日 11:52 AM


    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。







    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
    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

    私人出租车预召软件需要规范? ~ 14 Oct 2015

    S'pore taxi companies losing millions from Grabtaxi and Uber competition ~ 10 Oct 2015

    Can't find cabs on the road? Try the yard ~ 10 Oct 2015

    Taxi booking app gets at least S$12.5m from Temasek unit ~ 9 Apr 2014
    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

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    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

    BMW denies diesel cheating as EU, Germany probe auto cartel ~ 24 Jul 2017

    German automakers formed a secret cartel in the ‘90s to collude on diesel emissions: report ~ 24 Jul 2017

    Dieselgate product of vast VW-BMW-Daimler car cartel conspiracy, fresh report says ~ 22 Jul 2017

    Offline zuolun

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    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

    Foreign net buying below RM100m mark last week ~ 25 Jul 2017*-last-week

    Foreign investors are cashing in on an emerging market with a booming currency ~ 25 Jul 2017
    • 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
    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
    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

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    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

    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

    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
    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

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    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

    慰安妇旧照揭日军丑恶暴行 ~ 27 Aug 2015

    Women forced into sexual slavery by the Japanese in WWII tell their stories ~ 14 Aug 2015

    Japanese newspaper Asahi Shimbun apologises over false stories on Fukushima and WWII sex slaves ~ — 13 Sep 2014

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

    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

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    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

    A Hong Kong apartment sets an Asian price record, amid government curbs ~ 2 Oct 2017

    Hong Kong commercial property prices triple over past decade ~ 14 Sep 2017
    • 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

    Ghost of the 1997 Crisis stalks Hong Kong's economy ~ 22 May 2017

    GuocoLand - Guoco Group JV submits top bid of $1.62 bil for Beach road police station site ~ 28 Sep 2017

    Offline zuolun

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    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

    义勇军进行曲 (March of the Volunteers)



    中華民國軍歌 - 我有一支槍






    Offline zuolun

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    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

    二战中日军最惨的一战 20万日军几近全灭

    Japan's View of the Pacific War


    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

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    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
    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.


    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。


    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

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    Re: The other side of the coin
    « Reply #72 on: November 17, 2017, 06:26:55 AM »
    When a lizard breaks its tail, it won't die because it can regrow its tail completely.

    New Soul

    At a record low, Hong Kong's penny stocks market reeks of dodgy dealings ~ 28 Jun 2017

    Hong Kong small cap stock plunge wipes out US$6.1 billion in value  ~ 27 Jun 2017
    • 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

    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

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    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
    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

    A record amount of brick and mortar stores will close in 2017 ~ 26 Oct 2017

    Offline zuolun

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    Re: The other side of the coin
    « Reply #74 on: December 08, 2017, 11:41:47 AM »
    "There are 3 ways to make a living: be first, be smarter, or cheat." ~ Margin Call

    The 12 signs a cheap stock is a 'Value Trap' ~ 30 Nov 2017
    Stocks that look cheap may never substantially rebound.

    价值陷阱(Value Trap)~ 即价值投资者(value investor) 买入低价股票想炒底,却发现该股票的价格继续往下降,而且跌的幅度比之前更厉害。

    Value Trap
    Definition of Value Trap: A stock that appears to be cheap because the stock has been trading at low multiples of earnings, cash flow or book value for an extended time period. Stock traps attract investors who are looking for a bargain because these stocks are inexpensive. The trap springs when investors buy into the company at low prices and the stock never improves. Trading that occurs at low multiples of earnings, cash flow or book value for long periods of time might indicate that the company or the entire sector is in trouble, and that stock prices may not move higher.

    The free float of a listed company must be greater than 15% and the free float includes portfolio investments, nominee holdings and holdings by investment companies. A stock must also trade with a median daily turnover value of at least 0.05% of the value of its free float-adjusted shares in issue for at least 10 out of the last 12 months.

    Midas ~ Bearish Bollinger Bands Breakout

    Midas closed with a black marubozu @ S$0.118 (-0.016, -11.9%) with 41.2m shares done on 5 Dec 2017.

    Immediate support @ S$0.111, immediate resistance @ S$0.127.

    Offline zuolun

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    Re: The other side of the coin
    « Reply #75 on: May 04, 2018, 07:04:57 AM »

    Argentine Peso crashes most since 2015 free-float despite 600bps rate-hike ~ 3 May 2018
    The Argentine Peso is the worst EMFX currency today by a significant distance.

    EM FX Weekly: Big dollar keeps EM currencies under its thumb ~ 2 May 2018
    CNY: USDCNY has backed up to the high end of the very narrow 6.25-6.35 range established since February of this year. There has been no signalling from China on currency policy intent outside of a declaration some time ago that the country would not seek currency devaluation as a policy option. The weaker CNY has seen the most China-linked exporters’ currencies (the quartet of KRW, MYR, THB and SGD) weakening more or less in lock step with the move over the last month. We’ll watch the top of the range in USDCNY with considerable interest in the event the USD continues to strengthen for signs that China is allowing more exchange rate dynamism.

    Argentina: What's next after a massive rate hike? ~ 30 Apr 2018

    Argentine bakers give away 5 tons of bread in protest against rate hikes ~ 25 Apr 2018
    The bakers also denounced a sharp recent rise in the price of their main ingredient, wheat flour, saying the cost of that product had climbed by more than 100% in the past two weeks. The price increases affect common expenses at buildings where bakers' stores are located, Bilanski said, adding that some owners have seen their electricity bills rise from 2,500 pesos (some $122) to 25,000 pesos (some $1,222) in a period of three years.

    Offline zuolun

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    Re: The other side of the coin
    « Reply #76 on: May 09, 2018, 11:46:58 AM »
    Indonesia's Q1 GDP growth slows, consumption remains weak ~ 7 May 2018

    The Salim Group and land conflicts around West Papua ~ 7 Feb 2018

    Indonesia's Indofood rattles investors by buying land from CEO

    Food giant's $164 million payout is equal to 16.5% of its cash holdings

    By Wataru Suzuki
    June 14, 2017 11:03 pm JST

    JAKARTA -- Indonesian food giant Indofood Sukses Makmur's 2.2 trillion rupiah ($164 million) purchase of land in Jakarta from its chief executive, billionaire tycoon Anthoni Salim, is raising fresh questions over corporate governance in a country where close-knit families wield strong influence over group companies.

    The deal, announced on June 8 by Hong Kong-listed First Pacific, Indofood's parent company, had sent Indofood's stock price 5% lower by June 13, as investors considered the additional financial burden. The stock rose 0.9% on Wednesday, and is still up 8% so far this year.

    The transaction involves Aston Inti Makmur, an Indofood subsidiary, buying six plots of land in Penjaringan, North Jakarta, with a total area of 42,877 sq. meters for 51 million rupiah per sq. meter. The sellers are Anthoni Salim and Adithya Suramitra, a local company that he owns.

    Indofood group subsidiary Salim Ivomas Pratama already uses the land to operate cooking oil facilities. First Pacific said Anthoni Salim had been leasing the property to Salim Ivomas -- some of it for free -- but that after he received an offer from "an independent third party," he gave Indofood a priority offer to buy it.

    Indofood "recognizes the importance of the availability of the purchased lands ... to continue its cooking oil production business and decided to accept the offer," First Pacific said.

    The deal, which surprised analysts, highlights the influence that controlling shareholders can have over the companies they own, and raises questions over the ability of such businesses to protect the interests of minority shareholders. First Pacific said Anthoni Salim abstained from voting on the acquisition. But Indofood's board of directors includes his son, Axton Salim, and Franciscus Welirang, who is married to Anthoni Salim's sister.

    "There have been major improvements in corporate governance in Indonesia," said Yuri Sato, executive vice president at the Japan External Trade Organization. "But when the owner and manager are the same, there are limits to checks and balances."

    Anthoni Salim is the second-generation chief executive of Salim Group, considered Indonesia's largest conglomerate, with interests spanning food, retail, automobiles and more. He is the largest shareholder in First Pacific. While some individual companies such as Indofood are publicly listed, the group's overall financials are nearly impossible to grasp due to complex holding structures.

    The acquisition price of 2.2 trillion rupiah is equal to 16.5% of Indofood's cash on hand as of March, according to its financial statement. The "purchase price does not look cheap considering the location," local brokerage Mandiri Sekuritas said in a research note on June 9. First Pacific said the land's valuation was provided by "an independent valuer."

    Sato said it is unlikely that Anthoni Salim would conduct a deal that would jeopardize Indofood -- one of the world's largest producers of instant noodles -- because the company is Salim Group's crown jewel. She acknowledged that, "There are merits of a structure in which ownership and management are not separated."

    Indofood did not respond to requests for comment, and Anthoni Salim could not be reached for comment.

    IndoAgri ~ Trading in a rectangle, downside biased

    IndoAgri closed with a four-price doji @ S$0.305 (+0.002, +0.7%) with 120,000 shares done on 4 May 2018.

    Immediate support @ S$0.295, immediate resistance @ S$0.31.

    IndoAgri (weekly) ~ Bearish symmetrical triangle breakout, Measured Target S$0.245


    Offline zuolun

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    Re: The other side of the coin
    « Reply #77 on: May 14, 2018, 07:39:21 AM »
    Zuolun bro, a lot of pple in forum still buying singtel

    Singtel's Q4 net profit is likely to continue drag down by it's regional affiliates

    • Singtel's Q4 net profit is likely to continue hit by currency translation losses as all its regional affiliates in emerging markets are facing depreciating currencies.
    • Retail Investors are buying Singtel shares to bail-out longterm institutional investors and various stock broking firm's bosses who are stuck in Singtel at high prices,
    • Longterm institutional investors have not stopped dumping Singtel shares since Henderson Global’s Asia funds cut its stake in Singtel, last Apr 2017.
    • Longterm institutional investor, Qatar Foundation had dumped its entire 5% stake in Bharti Airtel for $1.48 billion, last Nov 2017.

    Idea, Bharti Airtel, RComm down 4-13% after Jio enters postpaid market ~ 12 May 2018

    Bharti Airtel closed @ RS 386.05 on 11 May 2018.

    TPG closed @ A$5.78 on 11 May 2018.

    Telstra closed @ A$3.20  on 11 May 2018.

    Singtel closed @ S$3.55 on 11 May 2018.

    In technical analysis, when a stock is in a bear-market territory, the last low will be retested and the share price will move much further down, forming a new record low.

    Offline zuolun

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    Re: The other side of the coin
    « Reply #78 on: May 14, 2018, 09:40:02 AM »
    Singapore's old HDB flats: Assets losing their value? ~ 13 May 2018
    Public interest in 99-year HDB leases stirred when owners of private residences along Lorong 3 Geylang were given notice that their properties must be returned to SLA when their land leases expire in 2020.

    Offline zuolun

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    Re: The other side of the coin
    « Reply #79 on: July 29, 2018, 10:29:43 AM »
    Facebook post by Inderjit Singh ~  26 July 2018 at 3:17 PM

    CareShield Life: Government should not use market prices as a benchmark for policy premiums

    Recently the press interviewed me on the Careshield Debate. I am adding my views to this debate by sharing my answers to the questions I was asked.

    Q : What are some possible reasons for the intense public reaction to the Careshield Life premiums, as compared to other gender-differentiated policies? For instance, CPF Life also has gender-differentiated pay outs.

    A : There is a difference between CPF Life and Careshield – for CPF Life, the premium paid is the same for both genders while for Careshield there is a big difference in premiums to be paid. So, people are looking at the cost today versus a pay out some time in the future. Despite there being obvious benefits in the future, for many the debate is much more intense because they may be sensitive to cost due to the already high cost of living and, so, any additional costs can be sensitive. Increasingly more Singaporeans are finding the cost of living beyond what they can afford comfortably.

    Q : What are the reasons behind why these economic or seemingly rational explanations do not seem to satisfy certain groups among the public?

    A : While actuarially fair, there are 2 reasons why people are unhappy;

    1. Since this scheme will be run by the government, and not a private insurance company, there are some perception problems. For one, people see the government as a service provider to serve all Singaporeans equally. Also, they do not think that the government should be making a profit from any schemes that they provide to Singaporeans. So, they are not happy if they think that this is being run as a 100% market driven thing. In any case, the government has the capacity to do this, without it being market driven, and still not come out negative because the past scheme showed that the government collected $3b and paid out only a negligible amount in claims.

    2. This is a compulsory scheme with an opt-out option. Some people are unhappy that this being a compulsory scheme is being is following market principles strictly, and that there must be some concessions made for a compulsory scheme.

    Q : In your view, what are the most compelling reasons (if any) for making the Careshield premiums gender-neutral?

    A : I feel the government should make this scheme gender neutral for two reasons. First government is not a private sector company and government should provide some of these services to the public at concessions. The government source of revenue for Careshield and CPF Life and other such schemes is not just through the collection of premiums but also through the taxes Singaporeans pay and also from the returns of our sovereign wealth fund – these are all the peoples’ resources.

    So as a government, some services should be provided at a subsidy because citizens are already contributing to government revenues in many other ways. There must be something called citizens’ privilege and having a gender neutral Careshield and equal CPF Life pay out may be the right thing for the government to do. Furthermore, based on past records, the government is net positive and not negative in the past.

    Q : Will the government succeed in convincing the public? How could the government have handled this better?

    A : The government has a tough task to convince the public as the cost impact is very high. Especially some young Singaporeans who believe that they can take care of themselves and may not like a compulsory scheme that will cost them high.

    The 2 possible ways the government could have handled this situation better:

    1. Show Singaporeans what the actual cost of coverage is and then decide to have a permanent citizens subsidy to be below the actual cost with women getting a higher subsidy.

    2. Government could have just averaged the cost of the genders and come up with one premium for both genders – for men slightly higher than what has been announced and for women slightly lower. This would have completely avoided the debate for a scheme that may actually be a very useful one for everyone in the future.

    Bottomline is leaders should exercise greater political judgement in policy-making. The civil servants have presented to the political leaders a logical scheme based on what a market driven approach would look like. But the government is not a company and we cannot apply what may seem logical in a market driven system to policies affecting the lives of citizens the government was elected to serve. Our leaders need to be able to take what the civil servants present to them and fine tune whatever policy or scheme they want to implement to improve the lives of the majority of Singaporeans.

    I see the debate on charging school teachers for parking in schools in the same context – the idea is logical, to have a clean wage system and the charges teachers have to pay are close to the market rates. But in reality, schools are not public car parks, so market rates should not apply. So, we either charge teacher a token amount only or just don’t charge them. This requires political judgement. I guess this government works on pragmatism more than politics but sometimes when it is the time to convince the public to buy-into a national scheme or idea, some political acumen never hurts.

    Introduction to CareShield Life (终身护保计划) ~ 9 Jul 2018

    一篇文章带你理清新加坡政府刚推出的终身护保计划 ~ 29 May 2018

    Offline zuolun

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    Re: The other side of the coin
    « Reply #80 on: August 09, 2018, 02:52:26 PM »
    截至8月6日,俄罗斯谷物收获产量已超5400万吨(54 million tons) ~ 9 Aug 2018

    Germany's grains crop lowest in 24 years after drought ~ 8 Aug 2018
    • Germany's grain harvest hit by drought and heatwave
    • Usually an exporter, Germany may need imports
    • Wheat crop down sharply, grain maize down 49.4%
    Trump administration slaps more sanctions on Russia after Skripal poisonings ~ 8 Aug 2018

    Ruble heads toward 20-month low as sanctions bill jolts Russia ~ 8 Aug 2018
    The Russian ruble slid 2.2% to 64.91 per dollar on 8 Aug 2018. The Russian government only managed to sell half the amount planned in a bond auction on 8 Aug 2018 as borrowing costs jumped to the highest level in more than a year. The cost of insuring dollar debt against default through credit-default swaps jumped to a two-month high of 149 basis points. Banking stocks were the biggest drag on the benchmark stock index, which slid 1%.

    U.S. farmers brace for bitter harvest under Trump's trade war ~ 7 Aug 2018
    Last week, data from the U.S. Department of Agriculture showed total soybean exports to China for the marketing year ending this month were down about 20% compared to last year, a sizable drop given that soybeans are the biggest U.S. farm export to China. Total pork exports to China for the calendar year were down nearly 60%.

    EU counts losses as Russia marks 4th anniversary of embargo on western food ~ 7 Aug 2018
    The food embargo banned the imports of meat, fish and seafood, vegetables, fruit and dairy products from the EU countries, the United States and several other states. The ban has recently been prolonged until the end of 2019.

    Why China’s pork producers can survive without US soybeans ~ 3 Aug 2018

    Russia flexes its agricultural muscles ~ 1 Aug 2018

    Unprecedented: The heatwave causing havoc across the globe ~ 30 Jul 2018

    Germany's record drought could cause 'billions' in losses for farmers ~ 29 Jul 2018

    Soybean giant Brazil swoops on US crop as China trade war punctures prices ~ 20 Jul 2018
    Who’s winning the US-China trade war? When it comes to soybeans, the answer is Brazil. The South American nation is capitalising on the strife caused by US President Donald Trump’s trade war to profit from both China and America in soybean trade.

    美货轮「飞马峰号」(Peak Pegasus)狂飙躲关税失败,8万吨黄豆「全倒海喂鱼」! ~ 15 Jul 2018

    China's multi-storey hog hotels elevate industrial farms to new levels ~ 14 May 2018

    Offline zuolun

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    Re: The other side of the coin
    « Reply #81 on: August 15, 2018, 03:51:14 PM »
    Don't cry for me Argentina

    Argentina: Convertibility plan

    Argentina rate hike comes after currency tumbles ~ 14 Aug 2018
    Argentina’s central bank to hike its benchmark rate to 45% from 40% as the country's peso is pressured by Turkey's currency crisis.

    USD/ARS: Argentine peso settles after 5% rate increase ~ 14 Aug 2018
    The US$ has started to ease lower against the Argentine peso, with price moving below the $30.00 level, after the USD/ARS pair spiked to a record $31.15 exchange rate on Monday over emerging market contagion fears. The central bank of Argentina hiked interest 5% to stem the Peso’s decline, bringing the official rate of interest to a stunning 45%.


    Argentine Peso crashes most since 2015 free-float despite 600bps rate-hike ~ 3 May 2018
    The Argentine Peso is the worst EMFX currency today by a significant distance.

    EM FX Weekly: Big dollar keeps EM currencies under its thumb ~ 2 May 2018
    CNY: USDCNY has backed up to the high end of the very narrow 6.25-6.35 range established since February of this year. There has been no signalling from China on currency policy intent outside of a declaration some time ago that the country would not seek currency devaluation as a policy option. The weaker CNY has seen the most China-linked exporters’ currencies (the quartet of KRW, MYR, THB and SGD) weakening more or less in lock step with the move over the last month. We’ll watch the top of the range in USDCNY with considerable interest in the event the USD continues to strengthen for signs that China is allowing more exchange rate dynamism.

    Argentina: What's next after a massive rate hike? ~ 30 Apr 2018

    Argentine bakers give away 5 tons of bread in protest against rate hikes ~ 25 Apr 2018
    The bakers also denounced a sharp recent rise in the price of their main ingredient, wheat flour, saying the cost of that product had climbed by more than 100% in the past two weeks. The price increases affect common expenses at buildings where bakers' stores are located, Bilanski said, adding that some owners have seen their electricity bills rise from 2,500 pesos (some $122) to 25,000 pesos (some $1,222) in a period of three years.

    Offline Zhorlok

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    Re: The other side of the coin
    « Reply #82 on: January 21, 2019, 04:07:27 PM »
    This year was not the best for Argentinean economy. I just don’t see right now the way to get out from huge inflatory spiral that is spiking every day. Just think that official interest rate is 45%!? Which economy can survive that?

    Offline zuolun

    • Baron
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    Re: The other side of the coin
    « Reply #83 on: February 20, 2019, 04:01:10 PM »
    ● 纳吉任期末端因国债攀天,不惜包抄企业富豪和中小型商家追查所得税,大权在握操生死时期忘记积德本分。
    ● 被纳吉革除职位的前总检察司、前反贪会高管和退休资政都纷纷受邀归队,日以继夜审查前朝黑幕和烂账,以期达致希联百日新政诺言。

    Genting Malaysia appealing amended tax deal ~ 25 Jan 2019

    Ex-Goldman Sachs banker charged in 1MDB case will be sent to the United States ~ 15 Feb 2019
    Goldman (GS) orchestrated three large bond offerings for 1MDB in 2012 and 2013. The bond sales, which raised a total of $6.5 billion, earned Goldman Sachs $600 million in fees.

    The 1MDB deals that continue to haunt Goldman Sachs ~16 Nov 2018
    The three bond deals took place in 2012 and 2013, and the debt is more than halfway to maturity.

    1. What exactly did Goldman do?
    • The New York-based bank advised 1MDB on the acquisitions of Tanjong Energy Holdings, from Malaysian billionaire Ananda Krishnan, and domestic power plants from Genting Bhd – raised by two separate bond offerings in 2012 worth $ 3.5 billion.
    • In March 2013, 1MDB issued an additional $ 3 billion in debt underwritten by Goldman to raise capital for "new strategic economic initiatives" with Abu Dhabi.
    • For those on the bonds, Goldman earns nearly $ 600 million in fees.

    Genting Berhad : The companies Switzerland says are linked to Malaysia's 1MDB scandal ~ 30 Jan 2016
    Genting Group and Tanjong: A Journal examination in June last year showed how 1MDB had paid what appeared to be an inflated price for a power plant owned by Genting, a conglomerate with interests in gambling and plantations. A unit of Genting then donated millions of dollars to a foundation chaired by Mr. Najib that was spent on schools and other projects that Mr. Najib was able to tout as he campaigned for elections in 2013. A spokeswoman for Genting declined to comment on the allegations, and Mr. Najib declined to address them.

    Offline Xieye

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    Re: The other side of the coin
    « Reply #84 on: March 10, 2019, 03:57:08 AM »
    Another “advisory” from Goldman. I don’t know if somebody was counting in how many scandals this bank was included? It seems that they have interesting business model by making trade off between earnings from project and potential charges

    Offline zuolun

    • Baron
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    • Posts: 3,807
    Re: The other side of the coin
    « Reply #85 on: March 30, 2019, 11:51:27 AM »
    Recharged bulls give stocks, commodities flying start to year ~ 30 Mar 2019
    What goes down must come up! Three months after one of the worst years on record, investors have seen world stocks and key commodity markets roar back with their best first quarter since 2012. The numbers are quite astonishing. The value of MSCI's world share index has surged US$6 trillion. Wall Street is up 13%, Europe 12% and China has jumped 25%, which is almost everything it lost last year and has only been bettered by Colombia.

    Sell-off roils India stocks on growth concerns ~ 26 Mar 2019
    A global stocks sell-off that started in the US last Friday has extended to Indian equities. US futures signalled further declines after a range of economic data dimmed the outlook for global growth. The SP BSE Sensex fell 0.9% to 37,819.90 as of 10:13am in Mumbai yesterday, declining for a second session even after it capped five straight weeks of gains through last Friday. The NSE Nifty 50 Index also dropped 0.9%.

    China's wildest stock gauge is now ready for its close up ~ 1 Mar 2019
    When MSCI Inc. decided to expand the weighting of China equities in its benchmark indexes, it also announced it would add ChiNext Index members for the first time, something MSCI said it would consider last year. The decision involving 27 stocks means index-tracking investors will be obliged to hold them.

    Share-backed loans rock India's founder-led firms

    Tighter credit, debt raise specter of defaults

    By Dhanya Ann Thoppil
    February 15, 2019 16:34 JST

    MUMBAI (NewsRise) -- As liquidity tightens, investors in India are grappling with the growing risk posed by founder-led companies that are laden with debt and have a high proportion of shares pledged as collateral for loans.

    The latest case to unsettle the market concerns Reliance Anil Dhirubhai Ambani Group, which is led by Anil Ambani, younger brother of Asia's richest man, Mukesh. Over the course of four trading sessions early in February, the group's companies lost nearly 55% of their collective market capitalization as lenders L&T Finance and Edelweiss Group dumped pledged shares worth 4 billion rupees ($56 million).

    The selling came after group company Reliance Communications, which has $7 billion in debt, filed for insolvency. That set off a chain reaction, weakening share prices across the group and eroding the value of the pledged shares. According to the lenders, the company did not heed calls to top up collateral.

    The concern now is that more companies may find it difficult to repay debt leading to a vicious cycle of falling share prices and collateral values and further selling of pledged stock by creditors. Since founders tend to hold at least 51% of a company, the impact of such forced sales can be profound, extending to ownership changes. Other factors such as a slowing economy, an equities market struggling for direction and heightened risk aversion ahead of general elections could amplify the knock-on effects.

    Market watchers find many similarities with China in the recent developments. Late last year, the massive amounts of shares pledged for loans by small and medium Chinese companies in a credit-short economy roiled markets on the mainland, triggering calls for state help.

    In India, the extent of such borrowing, which allows creditors to sell the shares if the company is unable to meet minimum requirements, is much smaller. Excluding government-owned companies, about 4% of founders' stock worth $26 billion is pledged, according to a recent CLSA report. This compares with 50% of Chinese small and medium stocks pledged at the peak in March 2018.

    However, the Indian companies hit by talk of default and lenders invoking their pledges have been major ones so far. The ensuing developments and media reports have not only underscored the need for more due diligence by investors but also raised questions about transparency and governance especially as many large groups contain a complex web of listed and unlisted companies with varying standards.

    In January, a report alleging fraud at Essel Group led to a more than 26% fall in the stock of unit Zee Entertainment Enterprises, India's largest media company, as lenders sold pledged shares. Sister concern Dish TV India, a cable operator, lost 33%. Zee Entertainment later said its creditors had agreed that they would not sell any more shares until September, no matter the price, as it tried to find a strategic investor.

    Meanwhile, India's fraud investigators are probing Nityank Infrapower, an obscure firm which the media report identified as linked to Essel Group, for the large deposits it made soon after New Delhi withdrew high-value cash from the market in 2016. Essel Group has denied any connection to the company.

    The practice of share pledging is common globally and does not pose a systemic risk, say analysts.

    Anil Gupta, head of the finance sector at ratings agency ICRA, said the recent problems are because founders are unable to roll over their loans against securities as lenders have become wary.

    Credit has tightened partly because of the lending curbs imposed on banks in a bid to reduce their bad loans. The crisis last August at leading shadow bank Infrastructure Leasing & Financial Services, which missed payments on many debt obligations, has aggravated the issue by causing a liquidity crunch and raising short-term borrowing costs.

    Although the Reserve Bank of India recently cut rates and announced some relaxation of curbs on banks, more needs to be done to improve liquidity, say observers.

    Pranav Haldea, chief executive of PRIME Data Base, pointed out that in some instances, founders have pledged as much as their entire stake, increasing the company's vulnerability. "There should be a cap on the proportion of shares a founder can pledge," he said.

    According to PRIME, founders of 214 companies on the National Stock Exchange have pledged more than 50% of their holdings. Big names top the list by the value of shares pledged, including Adani Ports, led by tycoon Gautam Adani who founded the Adani Group, Tata Consultancy Services, the country's largest outsourcing company controlled by the Tata Group, and JSW Steel, a leading steel maker run by the Jindal family.

    Over at Suzlon Energy, a renewable power firm whose stock slumped 28% last week amid rumors of a debt default, founders had pledged 77% of their shares at the end of last year. The company has denied any debt default.

    On Monday, shares of Apollo Hospitals Enterprise dropped 11% even after the company reported better-than-expected results, as investors fretted over its move last month to increase the proportion of pledged shares by 4% to 75%.

    In a conference call with analysts, the company tried to allay investor concerns saying it would cut the proportion of pledged shares by 60% over the next six months by selling a stake in its insurance unit and another asset.

    Shenzhen exchange says Chinese listed companies’ pledged-share risk under control ~ 21 Jan 2019
    The risks to China stock markets from pledged shares – which led to jaw-dropping collapses in share prices on the Shanghai and Shenzhen exchanges last year – are under control, authorities said.

    "Forced Selling" 是「逼仓」的意思。

    Forced Selling (Forced Liquidation)
    Forced selling or forced liquidation usually entails the involuntary sale of assets or securities to create liquidity in the event of an uncontrollable or unforeseen situation.

    Seacera (7073) ~ Bullish Rounding Bottom, strong resistance @ RM0.50

    Seacera closed with a white marubozu @ RM0.34 (+0.015, +4.62%) with 37.4m shares done on 1 Mar 2019

    Immediate support @ RM0.305, immediate resistance @ RM0.375.

    ‘Seacera’s major shareholders forced to sell stakes by banks, brokers’ ~ 30 Oct 2018

    Offline zuolun

    • Baron
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    Re: The other side of the coin
    « Reply #86 on: March 30, 2019, 01:38:45 PM »
    Singapore may pay $0 for water plant that cost investors millions ~ 22 Mar 2019

    Loot a burning house (趁火打劫)

    The CLOB Revisted

    Is there an end in sight?

    October 26, 1999

    If there is one business story in Southeast Asia that simply refuses to go away, it is the CLOB crisis. For those who have been on the moon for the past 14 months and have missed all the action, let me recap: CLOB stands for Central Limit Order Book, a secondary market in Singapore that traded mainly Malaysian stocks. In its heyday, transactions on the CLOB far exceeded the transaction volumes for Singapore shares listed on the main board of the Singapore Stock Exchange. At one time market value of CLOB shares was between US$15 and $20 billion. During the Crisis, Malaysian Prime Minister Mahathir and his associates accused Singaporeans and CLOB shareholders of subverting the Malaysian economy. In September of last year, when Mahathir imposed capital controls and pegged the Ringgit at 3.80 to the dollar he also banned the trading of Malaysian shares overseas -- effectively pulling the rug out from under CLOB. Since then 180,000 shareholders holding $4.3 billion in Malaysian shares listed on CLOB have not been able to trade their shares.

    Malaysia now says CLOB was an illegal market -- even though Malaysians accounted for 20% of total CLOB trading and two Malaysian-controlled brokerages were among the biggest players in the CLOB market. Malaysia doesn't want CLOB shareholders to get their shares back because it believes they will immediately sell them and that will result in the depletion of $4.3 billion in foreign exchange reserves. But by denying the CLOB shareholders their right to sell the shares, Malaysia has sent the wrong signals to global investors who are encouraged by Kuala Lumpur's economic recovery story and want to invest in the bourse.The CLOB overhang is keeping them away. Realizing that the issue is hurting Malaysia, Kuala Lumpur has been at pains to resolve it. The only problem: some troubled Malaysian companies see the resolution of CLOB as a good opportunity to make money.

    In the past six months, five officially-backed schemes to resolve the stalemate have surfaced and have all been rejected by CLOB shareholders. Normally, the Singapore government would not intervene in something like this, but because 180,000 or so of its 3 million citizens are involved Singapore leaders have been forced to speak out. Singaporeans want a fair and equitable solution to CLOB. They want Malaysian regulators to either a) hand the shares back to their rightful owners so that they can trade them whenever they like; or b) allow an entity -- like the Tracker Fund that Hong Kong has just launched following its own share-buying binge last year -- to buy out shares at market value.

    Last week, United Engineers (Malaysia) or UEM -- a Malaysian construction and infrastructure group controlled by Halim Saad, a close friend and former business associate of Malaysian Finance Minister Daim Zainuddin -- unveiled yet another plan to entice CLOB shareholders to part with their shares. The buzz in Singapore and Kuala Lumpur is that a final solution could now be near.

    Before I go any further, let me bring you up to date with all the CLOB schemes that have failed. Earlier this year, Singaporean businessman Akbar Khan, a horseriding pal of Prime Minister Mahathir and a close friend and associate of Daim, unveiled a plan to buy all the CLOB shares from Singaporeans at up to a 70% discount to the then-prevailing market price. The response was overwhelming: NO. Who in his right mind would want to sell shares at a 70% discount to the prevailing market price? Next were two funds -- one controlled by Khan, another controlled by the family of Mahathir's long-time friend and mate Tunku Abdullah of Melewar Group. They too offered to buy the CLOB shares at a discount, albeit a smaller one. Next up: a proposal by UEM and Telekom Malaysia (the state-controlled listed dominant phone company) to buy CLOB shares at 25% discount for most shares. Investors responded by hammering Telekom stock despite its own improving fundamentals. The Malaysian government, which owns over 70% of Telekom, has been trying for months to sell 30% of its shares to Japanese phone giant NTT (it would use the proceeds to reduce the budget deficit and help the economy). NTT has apparently been telling the Malaysians they like Telekom but don't understand why a fixed line telecommunications company is interested in buying CLOB shares. Evidently Telecom started wondering too, and last week, it officially pulled out of the CLOB-share deal. That allowed UEM to launch yet another scheme to buy CLOB shares. The big question: Is this any different from the all those other deals? For one thing thing, the personalities haven't changed. UEM is controlled by Halim Saad who recently married Khan's niece in Singapore. So almost every CLOB deal has involved either Khan or Halim Saad.

    But UEM officials say CLOB shareholders, instead of listening to analysts and investment bankers or reading commentaries in biased foreign media, should now take a serious look at the latest plan. On the face of it, the plan does look different. What UEM has done is to break up the CLOB shares, comprising of stocks in 146 companies, into four separate groups in order of stock quality. At the top tier, UEM will offer to buy shares at the prevailing market price. Second tier stocks will be purchased at a mere 10% discount. But third and fourth tier stocks will be purchased at 40% to 80% discount to the current market price. In reality while the proposal looks attractive for the handful of CLOB shareholders holding top-tier stocks, it undervalues the stocks most other CLOB shareholders own.

    Analysts say even the holders of top-tier stocks are actually getting a bad deal. First, even though their stocks are repurchased at prevailing market prices, they will not be offered cash but shares of UEM. The problem is that UEM stock has actually been falling in recent months. Moreover, UEM is issuing more shares at a huge 30% premium to its current stock price to pay those CLOB holders. According to analysts, the flood of new UEM scrip will depress the UEM share price even more. One Kuala Lumpur analyst has worked out that if all CLOB shareholders agree to the proposal, fair value for UEM stock could go 20% below its current price of around Ringgit 6.50 a share.

    So yes, I expect another resounding NO from CLOB shareholders to the latest proposal. But I don't expect the CLOB issue to fade from the headlines. I am told that Malaysian authorities have been sounding out their Singapore counterparts on other proposals. One of them is to let the Singapore Government Investment Corporation, or GIC, in on the next CLOB share-purchase scheme. This will dispel the notion that politically well-connected Malaysian firms are out to make a buck at the expense of middle class Singapore investors who had invested their nest eggs in Malaysia. But if GIC (along with its impeccable reputation) is to come in, it would demand minimum discounts and a fairer approach. Kuala Lumpur analysts say that even if GIC refuses to participate in a new scheme, there are several other proposals under consideration -- all with smaller discounts, all appealing and attractive. Singaporeans would like what they see, KL market watchers say.

    Maybe they will; maybe they won't. Why not just hand the shares back to their rightful owners? Prime Minister Mahathir himself says Malaysia's foreign exchange reserves are now over US$32 billion. An additional $4.3 billion fleeing Malaysian shores would hardly make a dent. So why not let the market do all the talking and relegate the unfortunate episode to history? The removal of the CLOB overhang could actually spur the Kuala Lumpur bourse and bring back some of those foreign investors who have spent much of the past year sitting on the fence. In fact, that sounds like a win-win strategy for both Malaysia and CLOB shareholders.

    International business, Singaporeans wait for a stock freeze in Malaysia to melt

    By Wayne Arnold
    July 9, 1999

    Historic rivalries and a politically charged stalemate between this city's stock exchange and its counterpart in neighboring Malaysia are teaching investors here a new twist in the time-honored investment strategy of buy and hold.

    Until Malaysia imposed capital controls last September, the Stock Exchange of Singapore handled a lively over-the-counter trade in Malaysian issues. Often, more Malaysian shares changed hands than Singaporean shares did.

    But in September, Malaysia outlawed trade of its companies' shares off-shore as part of efforts to keep money inside the country. That left 172,000 investors in Singapore's so-called Central Limit Order Book, or Clob, as the market is known, caught with nearly $4 billion in shares they could not sell -- ''Clobbered'' as headline writers quickly punned.

    Since then, the Kuala Lumpur Stock Exchange and the Stock Exchange of Singapore have clashed about how to return the shares to the Malaysian marketplace.

    Newspapers here reported today that the Singapore exchange had sent a plan to the Kuala Lumpur exchange that proposes staggering the release of the shares in Kuala Lumpur to reduce chances of a shock wave of selling on Malaysia's newly buoyant market. Neither exchange would comment on the reports.

    But such a plan is unlikely to solve the problem of the Clob shares, part of a larger dispute that has already touched air, water and railway links between the two nations, which were both created during the British Empire's breakup in the 1960's.

    ''Clob is a four-letter word,'' says Azman Mokhtar, head of Malaysian research at Salomon Smith Barney. ''Malaysian authorities hold the view that it was an illegal exchange.''

    Complicating matters, Clob shares have in theory risen in value since being frozen. Malaysia's benchmark stock index has more than tripled since controls were imposed, and Malaysian authorities fear what might happen if so many investors suddenly had the chance to sell.

    Malaysia has proposed that Singapore shareholders swap their Clob shares, which represent 104 Malaysian companies, for nonvoting shares in two Government-linked companies, Telekom Malaysia and United Engineers (Malaysia) Bhd. The shareholders object because it would require them to accept the equivalent of a 42 percent discount.

    ''It's unfair,'' said Chia Yeng Boo, a 52-year-old Singaporean who has owned his Malaysian shares longer than he can remember, but now considers them ''a total write-off.''

    The Clob dispute is about people like Mr. Chia, small-time local investors who bought their first Malaysian shares a decade or more ago. But it also has implications for Malaysian efforts to woo back foreign investors unsettled by the Government's financial meddling.

    ''Everyone's watching what's going on here and how it's going to be resolved,'' said David Lum, who advises American clients as director of banking and strategy at Prudential-Bache Securities in Singapore.

    Singapore and Malaysia struck out together from under British rule as the Federation of Malaysia, but differences between the Malay-led Government in Kuala Lumpur and Singapore's predominantly ethnic Chinese politicians led to a split in 1965. The two countries' stock exchanges did not split until 1973; even then, they kept listing each other's stocks.

    In 1990, a more assertive Kuala Lumpur exchange ordered all Malaysian companies to shed their Singapore listings. The move was seen as potentially devastating to Singapore's financial industry: though Singapore was the dominant market, most of its stocks were Malaysian.

    Singapore's exchange blunted the impact by setting up Clob, to let investors in Singapore trade foreign shares the way investors in New York can trade some foreign stocks as American depository receipts.

    Malaysia never approved of Clob. ''We've objected since 1990,'' Mohamed Azam Ali, a Kuala Lumpur exchange spokesman, said.

    Malaysia decided it could no longer tolerate Clob last year, when the Government imposed economic changes that banned outflows of its currency. That meant closing the back door Clob had provided. ''You can't have capital controls if you have this loophole,'' Mr. Azman said.

    The move further strained relations between the two nations: bickering over a Malaysian railway immigration post in Singapore had already escalated into disputes about air and sea lanes. Last year, when Prime Minister Mahathir Mohamad of Malaysia visited Johor Bahru, a city across a causeway from Singapore, residents shouted ''cut! cut! cut!'' referring to the water Malaysia pipes to Singapore.

    Most investors snubbed an offer in May to sell Clob stocks to a friend of Malaysia's finance minister at what the Singapore exchange called half the market value. Other plans to swap stock for shares in offshore trusts also seem to have fizzled.

    Perhaps the only firm indication of what Malaysia will accept comes from Prime Minister Mahathir, who has accused Clob investors of contributing to the Malaysian market's fall last year. ''I don't think it is morally right,'' he was quoted as saying in May, ''for them to gain benefit from something they didn't help achieve.''

    Singapore has a moral responsibility to CLOB investors: Malaysian politician

    Agence France-Presse in Singapore
    May 13, 1999.

    A MALAYSIAN politician argued Thursday that Singapore's government had a moral responsibility toward investors in the city-state stuck with frozen Malaysian shares.

    Singapore was forced to stop over-the-counter trading in the shares after eight years when Malaysia imposed capital controls in September, leaving in limbo tens of thousands of Singaporeans who still owned Malaysian shares.

    Abdul Azim Mohd Zabidi, a member of the ruling UMNO party, argued the over-the-counter market called Central Limit Order Book International had been set up with the tacit approval of Singapore authorities.

    "When Malaysia imposed selective capital controls on Sept 1, 1998 and announced other measures that made it impossible for CLOB to continue its operations, this would seem to be a case of market failure.

    "Given Singapore authorities' pride in their efficiency, organisational skills and meticulous planning, it is difficult to believe the Singapore authorities made no plans nor did they allocate a budget for such contingencies," Abdul Azim was quoted as saying by the official Bernama news agency.

    Abdul Azim also said the Malaysia had made known its displeasure regarding CLOB's existence, the Singapore authorities must have had a reasonable expectation that Kuala Lumpur would try to put an end to the market.

    "It is therefore highly inappropriate for Singapore Deputy Prime Minister Lee Hsien Loong to try and disclaim moral responsibility for CLOB."

    "Assuming all his arguments are valid -- that CLOB was an over-the-counter trading facility, that its shares were not listed on the Singapore stock exchange and the shares were not subject to Singapore's disclosure rules or corporate government standards -- the fact remains that Singapore was the mid-wife to CLOB's birth.

    "The umblical cord may have been severed, but a mid-wife cannot deny her role in the delivery process," said Abdul Azim.

    Some 100 Malaysian issues were traded under CLOB until September 15 last year, when trading ceased after Malaysia imposed the capital controls.

    Offline zuolun

    • Baron
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    Re: The other side of the coin
    « Reply #87 on: April 02, 2019, 10:29:53 AM »
    Lim explains Ekovest’s investment in his loss-making plantation ops ~ 20 Mar 2019
    Ekovest’s 24.23% stake acquisition of PLS Plantations from its controlling shareholder Lim for RM76.5 million in cash raised eyebrows. It begs the question: Why would a construction outfit venture into oil palm and durian plantations?

    Ekovest is in a deep bear market (LL, LH), expect the share price to move much further down, forming a new record low.

    Ekovest ~ Trading in a downward sloping channel, interim TP RM0.415, next TP RM0.31

    Ekovest closed with a doji unchanged @ RM0.495 with 6.20m shares done on 29 Mar 2019.

    Immediate support @ RM0.46, immediate resistance @ RM0.52.

    Offline zuolun

    • Baron
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    Re: The other side of the coin
    « Reply #88 on: April 05, 2019, 02:17:52 PM »
    劉青雲 教識你證交所運作,股權,股價,經紀,黑市買賣,假消息

    中澳集团破产清算案真相调查 ~ 5 Apr 2019

    百億團貸網爆雷 大陸鴨王張洪波也破產 ~ on 2 Apr 2019

    山东德州首富遭当局诱捕 百亿资产充公 ~ 31 Mar 2019

    Hyflux Saga – Who killed Hyflux? ~ on 1 Apr 2019

    Minister Masagos on Hyflux's challenges with Tuaspring desalination plant ~ on 1 Apr 2019

    In Parliament: Govt will not use taxpayers’ money to bail out Hyflux investors ~ on 1 Apr 2019

    Protestor at Hong Lim: We invested in Hyflux because “Temasek had invested” ~ 31 Mar 2019

    PUB ready to take over desalination plant at zero dollars if Hyflux's Tuaspring does not resolve defaults ~ 22 Mar 2019

    Offline zuolun

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    Re: The other side of the coin
    « Reply #89 on: April 10, 2019, 06:55:32 AM »
    Hyflux default bad news for S'pore bond market: S&P ~ 10 Apr 2019
    More defaults may occur as lending conditions turn less favourable: Credit ratings agency

    DBS complied with rules as issue manager of Hyflux perps in 2016: MAS  ~ 8 Apr 2019
    The Monetary Authority of Singapore says that its supervisory reviews to date have not uncovered any impropriety on the part of DBS when performing its roles as both issue manager and distributor of Hyflux perpetual securities in 2016.

    Hyflux saga: Flood of questions over debt debacle ~ 7 Apr 2019
    An investor, who asked to be identified as Mr S.G. David, says: "Many of us want to sue Olivia Lum, the board of directors, the auditor and the banks. What we are asking is for the regulator to investigate and find out if there were any breaches committed. With this, we can get our recovery from the personal wealth of Olivia Lum, the board of directors, the issuer, auditor and the banks. We believe we have a case."

    Board Director of Temasek’s subsidiary ok with Hyflux CEO getting large remuneration ~ 2 Apr 2019
    In 2017, when Hyflux reported losses of $115.6 million, Ms Lum received between $750,000 and $1 million in salary, benefits and bonuses, SIAS said. “How was Hyflux able to justify such large remuneration given (its) financial position and the performance of (its) businesses and assets?” SIAS asked, questioning as well if there has been an independent investigation on the role of key executives in the firm’s collapse. As it turns out, the person who heads the Board’s Remuneration Committee in Hyflux is Gay Chee Cheong, who is also a member of the Nominating, Audit and Investment Committees. Gay Chee Cheong sits on the board of both Hyflux and Heliconia Capital Management, a wholly owned subsidiary of Temasek Holdings.

    Total compliance in financial reporting, but was it misleading? ~ 15 Mar 2019
    The chart below compares the company’s reported net gearing and our adjusted net gearing, if we simply reclassified the perpetual securities as liabilities. Should we also make adjustments for the higher reported profits under INT FRS 112 and capture the perpetual dividends as interests, it is certain profits would have been even lower — and net gearing even higher.

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    Re: The other side of the coin
    « Reply #90 on: April 12, 2019, 02:51:58 PM »
    S&P: Hyflux’s capital structure “hardly sustainable” when it issued perpetual securities in 2016 ~ 11 Apr 2019
    • S&P commented, “Following some erratic operating performance in the previous years, Hyflux still managed to issue perpetual securities in May 2016.”
    • “Numbers at that time already suggested that the company’s capital structure was hardly sustainable, with a ratio of net debt to Ebitda above 10 times in 2015, and negative Ebitda in 2014, driven by performance issues at the company’s Tuaspring desalination and power plant,” it added.
    • After a rebound in 2016 with Ebitda of $179 million, Hyflux went downhill all the way. It posted a negative Ebitda of $68 million in 2017, and deepened its operating losses to $256 million in the first 9 months of 2018.
    • As at Sept 30, 2018, short-term debt was $508 million and cash $194 million, making a capital structure revamp inevitable in the light of the earnings momentum, S&P pointed out.
    Hyflux says perpetual and preference shareholders will lose everything in liquidation ~ 21 Jan 2019
    "Many of you have been asking what I am personally giving to this company. But with SM Investments coming into the company, this is effectively a takeover and I no longer own much shares. In fact, almost no shares so I will no longer be in the driving seat." Still, she stressed that she plans to stay on for as long as possible to ensure a smooth transition.

    Offline zuolun

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    Re: The other side of the coin
    « Reply #91 on: June 16, 2019, 05:24:46 PM »
    Zuolun bro,

    Can always buy high and sell high

    Like F&N, I buy at sky high 8.82
    And waited until it split to frasers property limited to sell at 1.69 and F&N at 3.07 although it is now at $2, I am happy with small profits

    Zuolun bro,

    Frasers commercial closed 1.59
    52 weeks high
    Rights issue coming


    有感而发 ~ F&N的妈妈股和姐妹股让我想我的一根烂牙。本来在2013年我只需要付几十块钱就可以拔掉的。可是当年我并没有立刻去做;反而拖到今年(2019年6月11日)才拔掉它。你知道我付了多少倍才能够拔掉那根烂牙吗?答案是:六倍!


    F&N (adjusted for any splits) rose to high of $9.60 per share in 2013. After divesting its stakes in Asia Pacific Brewery, F&N returned capital of $3.70 per share to shareholders. Following which, in the same year, the group spun off its property arm Frasers Centrepoint (FCL) and shareholders got a dividend in specie distribution of two FCL shares for every F&N share they own. Each share of FCL had a book value of $2.04 then. After adjusting the stock for the capital reduction and dividend in specie exercise, the theoretical residual value for the F&N stock should be $1.82.

    F&N ~ Potential Double Bottom, critical support @ S$1.635

    F&N closed with a black marubozu unchanged @ S$1.72 with extremely thin volume done at 33,600 shares on 14 Jun 2019.

    Immediate support @ S$1.705, immediate resistance @ S$1.76.

    F&N run-up strongly from 2009 to 2013 you didn't buy its shares all those years and at the last leg of the longterm uptrend, you jumped in to buy at sky high and held the shares tightly until you made a small profit.

    This is called 阿Q精神。


    F&N to return S$607m in cash to shareholders  ~ 27 Dec 2013
    F&N to return S$607m in cash to shareholders, or a 42 cents-a-share payout, in its second major capital reduction exercise in 2013. Capital reduction will not result in cancellation of its roughly 1.44 billion shares.

    F&N  ~ The last burst of fire

    F&N @ 5.63 on 12 Dec 2013.

    F&N ~ Fall off the cliff

    F&N @ S$2.73 on 23 Jan 2015.

    Offline zuolun

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    Re: The other side of the coin
    « Reply #92 on: June 24, 2019, 09:09:34 AM »
    9 in 10 graduates find employment within 6 months. But here’s what the statistics isn’t telling you ~ 2 Apr 2019
    It also reported that the medium monthly salary graduates from local universities is S$3,400.

    Young, jobless and feeling hopeless in Singapore

    By Yuen Sin
    23 Jun 2019, 5:00 am SGT

    Experts flag vulnerability, struggles of group not in education, employment or training.

    For the past 1 & 1/2 years, 24-year-old Benjamin has been spending his days at home.

    He is not in school. He is not working. He is not undergoing training.

    He whiles away the time reading the newspapers, browsing the Internet or listening to the radio, keeping his expenses to a minimum. Occasionally, he ventures out to run errands with his parents, who pay for his meals and other necessities.

    Benjamin, who does not want his real name used due to the stigma associated with his condition, has a diploma in media and communication from Singapore Polytechnic.

    But he became fearful about looking for jobs after unsuccessful applications to about 10 post-production companies. He has also had negative experiences during previous internships, including being fired at an events company for being slow at simple tasks such as packing items into containers.

    Last year, he fell into depression. Benjamin is among a growing group of youth aged 15 to 24 in Singapore who are defined as Neet (not in education, employment or training) by organisations such as the World Bank and International Labour Organisation (ILO).

    The latest available data – from the National Youth Survey in 2016 – showed that there are 20,100 Neets here, making up 4.1 per cent of the resident youth population.

    This is an uptick from 19,700 in 2013, comprising 3.7 per cent of the resident youth population.

    The survey was conducted by the National Youth Council, with input from the Ministry of Manpower and the National Population and Talent Division. It polled a representative sample of 3,531 youth in 2016, and 2,843 youth in 2013.

    Unlike the youth unemployment rate – which captures the number of jobless among those actively searching for work, Neet data includes those who have dropped out of the labour force altogether.

    This is thus a more comprehensive measure of the economically idle among young Singaporeans, said the survey report.

    Neets are a vulnerable segment of the youth population, said the ILO, as they are at risk of both labour market and social exclusion.

    Singapore’s Neet rate is low by global standards. Neet rates in other developed countries such as Germany and Finland in 2016 ranged from 6.5 to 9.9 per cent.

    But higher job expectations, on top of uncertain economic conditions, may have led to a growth in this Neet rate – which experts say is likely to go higher.

    Japan's modern-day hermits: The world of hikikomori ~ 18 Jan 2019

    A posed picture of a hikikomori. The term hikikomori refers to those who experience physical isolation, social avoidance and psychological distress for six months or longer, according to the BBC.

    三和人才市场:零工族生存实录 ~ 12 Nov 2018

    [NHK][纪录片][中文字幕] 三和人才市场・中国日结百元的青年们 ~  11 May 2018

    Offline zuolun

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    Re: The other side of the coin
    « Reply #93 on: June 24, 2019, 12:15:31 PM »
    “反送中”将影响台湾大选? ~ 23 Jun 2019

    Chinese govt invites foreign media to Xinjiang to paint a positive image of its Muslim Uighur’s ‘re-education’ camps... ~ 22 Jun 2019

    德语媒体:别和只在乎利益的北京谈道德 ~ 22 Jun 2019

    BBC記者發現新疆清真寺遭摧毀的證據 ~ 20 Jun 2019

    Inside China's 'thought transformation' camps ~ 18 Jun 2019

    一國兩制的新疆自治區現況 ~ 24 May 2019

    生命尊嚴何在?中共無情摧毀新疆維族社會 ~ 11 May 2019

    中共打压新疆穆斯林3年毁近100清真寺 ~ 8 May 2019

    美国指中国要“消灭伊斯兰文化和宗教” ~ 15 Mar 2019

    新疆醫師爆「再教育營」真相! 日記者揭聯合國不制裁中國內幕 ~ 5 Nov 2018

    China‘s hidden camps ~ 24 Oct 2018
    What’s happened to the vanished Uighurs of Xinjiang?

    新疆傳出上百萬人遭監禁洗腦?~ 19 Oct 2018

    維族被迫"再教育" 新疆"自治區"成諷刺 ~ 27 Aug 2018

    鬍鬚都管百萬人「再教育」 進新疆天皇老子也要走「VIP必檢通道」! ~ 8 May 2018

    新疆人"生理特徵"全都錄 中國天網無所遁逃? ~ 9 Jan 2018

    Rescuing the boat people ~ 28 Aug 2009

    Boat People (投奔怒海 1982)

    Running and screaming: the photo that changed a war
    In this June 8, 1972 photo, South Vietnamese forces follow after terrified children, including 9-year-old Kim Phuc, center, as they run down Route 1 near Trang Bang after an aerial napalm attack on suspected Viet Cong hiding places.

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    Re: The other side of the coin
    « Reply #94 on: June 26, 2019, 07:26:57 AM »
    Netizens displeased with DPM Heng’s statement that GST would be up to 15% if not for Singapore’s healthy reserves ~ 17 Jun 2019
    Earlier this year, Mr Heng who is also the Finance Minister, announced in Budget 2019 that the GST will be raised from 7% to 9% as the Government’s spending on healthcare, infrastructure and security has increased and is expected to get higher in years to come. The Minister stated that the hike will happen sometime between 2021 and 2025 which means it will be increased after the next General Election.

    Top five healthcare systems in Asia-Pacific ~ 31 May 2019

    ‘Hard choices’ need to be made to keep healthcare spending sustainable: PM Lee ~ 23 Mar 2019

    What does Singapore’s new military budget say about its defense priorities? ~ 22 Feb 2019
    • This week, Singapore’s defense budget was announced as being at 15.5 billion Singapore dollars ($11.4 billion). The figure, disclosed along with a budget speech given by Finance Minister Heng Swee Keat, amounts to about 19% of total government expenditures and around 3.3% of national GDP. The total amount Singapore is spending on Defense, Home Affairs, and Foreign Affairs ministries – within the wider umbrella term used of “defense, security, and diplomacy” – amounts to $22.7 billion or 28.3% of the $80.3 billion total budgeted expenditure.
    • Relative to last year, the amount budgeted for defense spending constitutes a 4.8% increase. This is higher compared to the previous initial increases over the past 2 years of 1.6% and 3.7% (the previous two years witnessed higher increases of between 5 and 6%), and also a bit higher than the 3 to 4% rise range that Defense Minister Ng Eng Hen had mentioned a few years ago that would be needed to keep pace with inflation and to respond to a range of security challenges. In his remarks, Heng provided a justification for this increase building off of previous articulations, noting the security challenges Singapore faces including terrorism and cybersecurity and calling the defense allocation “significant but indispensable.”
    Budget 2019: 30% of Government expenditure to go towards defence, security and diplomacy ~ 19 Feb 2019
    The lion's share goes to defence expenditure, which is expected to increase by 4.8% to $15.5 billion.

    2.2 or 8% healthcare spending as % of GDP? ~ 8 Nov 2018
    It states that “All in all, we expect our average annual healthcare spending to rise from 2.2% of GDP today to almost 3% of GDP over the next decade. This is an increase of nearly 0.8-percentage point of GDP, or about S$3.6 billion in today’s dollars. Within the next decade, healthcare spending is expected to overtake education.”

    S’pore’s healthcare protection gap highest in Asia? ~ 6 Oct 2018

    Reserves can’t use for healthcare – what have we been using? ~ 6 Mar 2018

    Nothing for Heng Swee Keat to shout about for spending only $13b on healthcare from 2020 ~ 8 Dec 2017
    “To put that in perspective, the total budget for the Ministry of Health (MOH) in 2010 was $4 billion. In this year’s Budget, Mr Heng allocated it $10 billion.”

    According to the most recent data (2014) from World Bank, Singapore can be seen to be spending the least in healthcare as % of GDP among the first world countries (this is total health spending including private and public spending):

    US – 17.1%
    Sweden – 11.9%
    Switzerland – 11.7%
    France – 11.5%
    Germany – 11.3%
    Austria – 11.2%
    New Zealand – 11.0%
    Netherlands – 10.9%
    Denmark – 10.8%
    Belgium – 10.6%
    Canada – 10.4%
    Japan – 10.2%
    Norway – 9.7%
    Finland – 9.7%
    Portugal – 9.5%
    Australia – 9.4%
    Italy – 9.2%
    UK – 9.1%
    Spain – 9.0%
    Iceland – 8.9%
    Greece – 8.1%
    Israel – 7.8%
    Ireland – 7.8%
    South Korea – 7.4%
    Luxembourg – 6.9%
    Singapore – 4.9%

    At 4.9% of healthcare expenditure, Singapore is ranked along with countries like Burkina Faso (5.0%), Libya (5.0%), Ethiopia (4.9%), Mauritius (4.8%).

    OECD countries pay for majority share of total health expenditure – Singapore prepares to pay only 40%.

    And to make matter worse, the 4.9% quoted above for Singapore was for total healthcare spending, which includes both public and private spending.

    Among the OECD countries, the average out-of-pocket or private expenditure as a share of total health expenditure in 2015 was 20.2%. That means, public spending as a share of total health expenditure was a whopping 79.8% for OECD countries on average. Even Korean’s share was 63.2%.

    Singapore healthcare budget to hit 3.5% of GDP by 2030 ~ 23 Mar 2017
    Singapore's overall expenditure on health will double over the next 5 years and may reach up to 3.5% of the country's GDP by 2030, up from the current 1.6%.

    Fox: Singapore has the world’s greatest healthcare system? ~ 2 Dec 2016
    Very high % of income contribution to Medisave? ~ As Singaporeans contribute as much as 10.5% of their income to their Medisave accounts – we may from a cashflow perspective – arguably be paying the highest “implicit healthcare premium” (as a percentage of income) in the world.

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    Re: The other side of the coin
    « Reply #95 on: July 10, 2019, 04:18:58 PM »
    新加坡公共综合诊所看诊费 未津贴前贵过私人诊所? ~ 5 Jul 2019

    “划一诊费 一再拖延”‧医协:私人诊所用27年前收费率 ~ 22 Jun 2019

    私人诊所看诊费调涨 年底有定案 ~ 11 Jun 2019

    营运成本日益高涨 私人诊所难以支撑相继倒闭 ~ 27 May 2019

    看病无需预约 服务具素质 2019全球退休指数马国医疗保健最佳 ~ 7 Feb 2019
    美国《国际生活》杂志(International Living),公布2019年全球生活退休指数,马来西亚被评选为全球最佳医疗保健胜地。在该指数的医疗保健类別,马国在满分100分中得分95。《国际生活》杂志整理的报告指马国有13家医院,获得国际医疗卫生机构认证联合委员会(JCI)的认证,而且几乎所有医生都能口操流利英文。

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    Re: The other side of the coin
    « Reply #96 on: August 03, 2019, 03:07:00 PM »
    Vivocom (formerly Instacom) :一个会创新低的股价还会创新低,直到它不会创新低。

    Vivocom (weekly) ~ Trading in a downward sloping channel

    Vivocom closed @ RM0.015 on 2 Aug 2019.

    When a stock is in a bear-market territory, the last low will be retested and the share price will move much further down, forming a new record low.

    Vivocom (formerly Instacom) ~ Trading in a downward sloping channel

    Vivocom closed with a dragonfly doji unchanged @ RM0.13 with 33.3m shares done on 2 Jun 2017.

    Immediate support @ RM0.12, immediate resistance @ RN0.14.

    VIVOCOM (0069) 怡丰国际: 怡丰国际“跌跌”不休 建筑合约碰钉子 ~ 5 Jun 2017

    INSTACO (0069) - My views on instacom - Salvador Dali ~ 15 Jan 2016
    Either the entire thing is a scam, or its true... how to scam with CRCC(中国铁建)?

    Offline zuolun

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    Re: The other side of the coin
    « Reply #97 on: August 08, 2019, 12:08:21 PM »
    The Basics Of Game Theory

    1.  Malaysia's Genting Malaysia ~ 6 Aug 2019
    2.  Malaysia's OSK Holdings ~ 14 Jun 2017
    3.  Indonesia's Indofood  ~ 3 Mar 2016

    Kok Thay sells loss-making Empire Resorts stake to Genting Msia ~ 6 Aug 2019
    Tan Sri Lim Kok Thay, via Kien Huat Realty III Ltd, is selling 46% of the common stock in Nasdaq-listed gaming and entertainment company, Empire Resorts Inc, to Genting Malaysia Bhd (GenM) for US$128.6 million cash or RM538.8 million.

    Indonesia's Indofood rattles investors by buying land from CEO ~ 14 Jun 2017*-from-CEO-causes-market-jitters
    Food giant's $164 million payout is equal to 16.5% of its cash holdings

    OSK Holdings: Merger of OSK Property and PJ Development ~ 3 Mar 2016
    In 2015, OSK Holdings Berhad completed its corporate exercise to merge the businesses and operations of PJ Development Holdings Berhad and OSK Property Holdings Berhad into the OSK Group.

    GENM (4715)

    GENM closed @ RM3.18 (-0.43, -11.9%) with high volume done at 260m shares on 7 Aug 2019.

    GENM closed @ RM3.70 (+0.25, +7.2%) with high volume done at 57.7m shares on 24 Jul 2019.

    GENTING (3182)

    GENTING closed  @ RM6.18 (-0.47, -7.1%) with 23.6m shares done on 7 Aug 2019.

    GENTING closed @ RM6.87 (+0.22, +3.3%) with high volume done at 12.0m shares on 24 Jul 2019.

    Genting Sp (G13)

    Genting SP @ S$0.88 (+0.01, +1.1%) with 25.3m shares done on 7 Aug 2019.

    Genting SP closed @ S$0.935 with 29.5m shares done on 24 Jul 2019.

    Performance Chart ~ GENM (4715), GENTING (3182) and Genting Sp (G13) from 15 May 2018 to 7 Aug 2019

    Performance Chart ~ GENM (4715), GENTING (3182) and Genting Sp (G13) from 15 May 2018 to 24 Jul 2019

    Offline zuolun

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    Re: The other side of the coin
    « Reply #98 on: August 08, 2019, 12:21:32 PM »
    Turmoil gives Hong Kong its best chance for badly needed political and economic reforms since 1997 ~ 7 Aug 2019
    Amid the crisis comes a chance to start afresh, agree on some form of electoral democracy and press on with social and economic reforms in housing and jobs. It is time for Hong Kong to stop being governed by cartels and caretakers.

    Hong Kong and Singapore, so similar yet so different – it’s all about housing, money and politics ~ 1 Aug 2019
    With housing so out of reach, any spark can trigger uncontrollable riots. Instead of being amazed by city’s turmoil, one should wonder why it took so long.


    Hongkong Land profit plunged 63% to US$411m from US$1.12b in H1 ~ 2 Aug 2019

    HK Land ~ Bearish Rounding Top Breakout, interim TP @ US$5.30

    HK Land closed with a black marubozu @ US$5.57 (-0.17, -3.0%) with 6.41m shares done on 6 Aug 2019.

    Immediate support @ US$5.45, immediate resistance @ US$5.71.

    (The Power of Gartley Pattern: HongKong Land's chart flashed a SELL signal in mid-April 2017)

    HongKong Land ~ Bearish Rounding Top Breakout, interim TP US$5.59

    HongKong Land closed with a spinning top @ US$6.09 (-0.01, -0.2%) with 1.76m shares done on 19 Oct 2018.

    Immediate support @ US$6.04, immediate resistance @ US$6.15.

    HongKong Land (weekly) ~ Bearish Bat Pattern

    Bearish Bat Pattern

    Offline zuolun

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    Re: The other side of the coin
    « Reply #99 on: August 21, 2019, 05:54:10 PM »
    The CEO of a listed-company, ABC invested company's fund, $1 billion in a company called XYZ with full knowledge that it would go bankrupt soon. Prior to the investment decision, he had liaised a 50/50 split with the owner of company XYZ that each would get $500 million once he got the money. After a while, company XYZ really went bankrupt. It didn't affect the CEO personally as the $1 billion in losses were attributable to the listed-company ABC. So what's rightfully company ABC’s money has now become the CEO's personal money, and it’s all legal and above board.


    有感而发 :

    突然想起一篇文章。那间ABC上市公司的例子其实是一个真实个案(see above summary)。


    Empire Resorts to be acquired by controlling holder Lim ~ 20 Aug 2019

    Empire Resorts on the brink of filing for bankruptcy ~ 13 Aug 2019

    Genting, conquering a losing Empire? ~ 9 Aug 2019

    Empire Resorts announces Receipt of Letter from controlling stockholder ~ 26 Jul 2019