Last Sunday, Uncle8888 was there for his family dinner before it closes down and shifts to Jurong East. This is the restaurant where his group of SuperFriends (his investing kakis but many of them have quietly disappeared) had their gathering so it is something worth his last visit.
He also saw many families bringing their old folks there for their dinner. Probably, these old folks are saying good-bye too.
Note that it was started in 1978, Beng Hiang Restaurant has since established itself as one of the best Hokkien restaurants in Singapore.
.... I got triggered by someone exploring the possibilities of front loading
their wealth building, such that after a certain age, they can stop
putting money towards wealth building, yet have enough to retire at the
age of 65 years old.
Uncle8888 fully agreed with the above as he has achieved it. On his human asset ...
On his Financial Assets ...
Since Jan 2000, Uncle8888 didn't put in a single cent into his investment portfolio as he believe he has enough war chest for his investment portfolio. More importantly, he has to mitigate the Risk Of Liquidity Needs and recognizing the effect of his depreciating human asset. At anytime, he might be retrenched in the next economic crisis so he has to build up his emergency fund in term of X years and not the typical 6 to 12 months. An old human asset is extremely difficult to get another job. It may take years to do it!
Thethree risksthat we should be thinking very hard when are investing over decades in the stock market:
1. Risk Of Large losses
Once we have locked in large negative losses it is very difficult to recover as most of us may have limited saving to keep adding bullets into our war chest to continue with the Game. So we must think very hard why Mr. Market is wrong and we are RIGHT before we keep averaging down on losses.
2. Risk Of Liquidity Needs We must think hard and think years ahead on how to meet our future liquidity needs over 5 - 7 years of market cycles; but can be unexpectedly longer.
We must avoid having to sell our assets at market low to meet our large liquidity needs and locked in large negative losses as in Point 1.
By selling our valuable assets at market low and locking in large negative losses at the same time; we can say bye bye to our investing goals.
Think way ahead how to meet your liquidity needs; especially the larger ones.
"Do or Do not. There is no try"
3. Risk Of Inflation over decades when inflation outlives our life FIRE - The new word in personal finance and investment dictionary.
Financial Independence, Retire Early
When your passive income exceeds your living expenses is FIRE!
Now you can voluntarily fire your job and your boss when you have enough FU$ or No Thanks$ to walk away from those "nonsenses" from you bosses. Enough is enough!
Sure or not when you are in your late 30s or early 40s?
You have decades of inflation ahead of your life.
When your passive income exceeds your living expenses is FIRE.
Financial Independence, RelaxEarly Can be relax in your time? Can be relax in your spending? Can be relax in your job? Can be relax in saving for your future? Still need to save so hard for future meh?
Keppel Infrastructure Fund Management, the Trustee-Manager of Keppel
Infrastructure Trust (KIT) (formerly known as CitySpring Infrastructure
Trust) is pleased to announce that it has raised S$525 million through a
private placement and preferential offering to be conducted to finance
the acquisition of a 51% stake in Keppel Merlimau Cogen Pte Ltd.
The private placement issue price has been fixed at S$0.52 per
Placement Unit, being a discount of 6.15% to the adjusted
volume-weighted average price(1), which excludes the special
distribution of 1.05 cents per unit and the pre-equity fund raising stub
distribution of 0.11 cents per unit, for which the private placement
units are not eligible.
To reward existing unitholders and enable them to participate in the
future growth of the trust, KIT will conduct a non-renounceable
preferential offering under which existing unitholders will be entitled
to subscribe to 1 new unit for every 13 units owned as at 28 May 2015 at
5.00 pm at a preferential offering price of S$0.515 per unit, which is
at a discount to the private placement price.
This equity deal is the largest to date in Singapore and represents
approximately 36% of KIT's outstanding units before the equity fund
The private placement attracted strong institutional interest from
new and existing investors, and was more than 2 times subscribed. Long
only institutional and corporate investors were allocated approximately
75% of the private placement.
Mr Khor Un-Hun, CEO of Keppel Infrastructure Fund Management, the
Trustee-Manager of KIT, said, "We are deeply encouraged by the strong
investor interest in our equity fund raising. The increase in free float
and institutional unitholder base will help KIT enhance the liquidity
of its units and its ability to raise additional capital to finance
future growth opportunities."
(1)Being the price of all trades on SGX-ST
for the full market day on 19 May 2015 and on 20 May 2015 up until 9.33
am when it was halted for trading
Never assume you are NOT the next financial and investment blogger who can show others how you did in your own WAY.
When you are in 20s and 30s; why do you
need to hurry for locking up your own money in CPF SA to earn that extra
1.5% compounding interests till the next retirement age 69 or 7x? You don't know how to invest now. But, are you so sure you are NOT going to learn and excel in your investing skills in the next 20 to 30 years?
You may even do better than Uncle8888. Why not?
You are much younger than him. You have started wise in your investing journey with so many free financial education in the cyber world!
Never assume you are NOT the next financial and investment blogger who can show others how you did in your own WAY. When you are in 20s and 30s; why do you need to hurry for locking up your own money in CPF SA to earn that extra 1.5% compounding interests till the next retirement age 69 or 7x?
You don't know how to invest now. But, are you so sure you are NOT going to learn and excel in your investing skills in the next 20 to 30 years?
It’s the largest infrastructure-focused business trust. Keppel Infrastructure Trust (KIT) commenced trading on the Singapore
Exchange today after completing its merger with CitySpring
CitySpring Infrastructure Trust announced yesterday that it has
completed its acquisition of three of KIT’s assets, namelySenoko
Waste-to-Energy (WTE) Plant, Keppel Seghers Tuas WTE Plant and Keppel
Seghers NEWater Plant.
“With the injection of these three assets into its portfolio, the
enlarged KIT is the largest Singapore infrastructure-focused business
trust, listed on the Singapore Exchange,” KIT stated.
KIT will also undertake its approved acquisition of Keppel Merlimau
Cogen Plant (KMC), an operating top tier 1,300 MW gas-fired power plant
After the KMC acquisition, which is expected to be completed by 3Q
2015, KIT will have an expected total asset size of over S$4 billion.
The merger was first revealed in November
last year. Keppel Corp is the largest unitholder with 22.9% ownership
in the trust, while Temasek is the second-largest unitholder with 19.97%
ownership in the trust.
Someone asked him ... "When will you sell your Kep Corp?"
He will definitely sell those positions that are supposed to be sold; but he didn't like the idea of cutting losses to add more cash to his growing War Chest. His idea about cash may not be commonly understood by some retail investors.
Why cheer yourself over a bigger war chest when you are already struggling with lack of buying ideas?
Can we ever recover by cutting losses into cold hard cash by locking in negative return?
Remember, the stock market is unpredictable. Salted fishes can come back alive. It not just happen; but it keeps happening many times!
There will be right time at your own time to cut losses and switch horses as we don't need to win back the same way as we have lost them.
Now, look at the chart. You can suggest or hint to him when is the right price to sell all?
NTA (Net Tangible Asset) at 31 Mar 15 is $5.92
Total dividends received for FY 14 is $0.12 + $0.36 = $0.48
sometime one day, their EYES OPEN UP AND STAY WIDE OPEN UP AFTER THERE ONWARDS!
We need a very strong trigger to jolt us out to take it so seriously. It is hard to do it just by hearing or reading; otherwise most if not all children can be taught to listen to their parents. Singles will get married after so many Chinese New Year days relative gathering!
One late "Guru" whom Uncle8888 loved to poke him at his blog and chat box whenever there was an opportunity to poke him.
Many of us were there when he first got started in the stock market; so we were not that stupid not to know how to guess his portfolio performance. "Where did you actually made your millions?" From the stock market or your businesses?
In 01 Aug 2009, Uncle88888 said .... I have never invested in any oversea marketbefore, and also unlikely in the future as I don't believe that with my limited investing capital, SG market cannot provide enough opportunity for me to make decent returns.
There is no need to look so far away when the pot of gold is just in our
own backyard. So I have escaped the CLOB saga, but my father-in-law and
brothers-in-law were all badly burnt.
Uncle8888's patience in the stock market cuts both way. His attitude towards losses is very different from commonly known or practiced concept.
He is very patient with both winners and losers. He doesn't have Stop-losses. He still believe in salted fishes becoming alive one day.
How to treat losses and move on without carrying the sampan all the time?
If really salted, he will write down the losses to ZERO stock value and move on. These losses are NON-CASH items and only impact his portfolio performance measurement when he still have big war chest. But; when his war chest is very low or empty then it is different ball game; he will need to raise cash.
He will cut these zeroed stocks and still "profitable". LOL!
In personal investing in the stock market over our lifetime i.e. decades of LONG RUN investing; we require more than just patience. We only answer to ourselves. So what is our altitude towards the (1) FEELING OF HAVE BEEN WRONG AND (2) FACING LOSSES.
ANY WRONG = Permanent WRONG? PRICE VOLATILITY = Permanent LOSSES?
1Q2015 Highlights • Group net profit at S$142.2 million amid challenging market conditions • Utilities’ operations overseas continued to perform well • Commenced operation for the first of two units of the 1,320-megawatt TPCIL power plant in India
Sembcorp Industries (Sembcorp) posted a net profit of S$142.2 million
and a turnover of S$2.3 billion for the first quarter of 2015 (1Q2015)
compared to S$184.8 million and S$2.6 billion in 1Q2014 respectively.
The Utilities and Marine businesses continued to be the main profit
contributors of the Group, accounting for 97% of Group net profit in
1Q2015. In 1Q2015, the Utilities business contributed S$74.5 million in
net profit to the Group compared to S$91.6 million in 1Q2014.
Performance of the Utilities business was impacted by continued intense
competition in the Singapore power market. Its operations overseas
continued to perform well. During the quarter, the first of two units of
the 1,320-megawatt TPCIL power plant in India commenced operation.
Meanwhile, the Marine business contributed a net profit of S$64.7
million compared to S$74.3 million in 1Q2014 mainly due to lower rig
building and repair earnings. The
Urban Development business recorded a
net profit of S$1.1 million in the quarter compared to S$19.5 million in
Return on equity (annualised) for the Group was 9.7% and earnings per
share amounted to 7.8 cents. Cash and cash equivalents stood at S$1.6
Tang Kin Fei, Group President & CEO of Sembcorp Industries, said,
“Amidst the challenging environment for our Singapore energy operations
and Marine business, we continue to focus on project execution, as well
as on enhancing operational excellence and efficiency, to manage
our costs and maximise earnings.
Underpinned by sound business
fundamentals and a healthy pipeline of projects, Sembcorp remains
committed to delivering long-term value and growth.”
FY2015 Outlook Utilities 2015 is expected to be challenging for
the Singapore energy business with continued intense competition in the
power market as well as low oil prices. The overseas business is
expected to continue to deliver a steady performance. During the
quarter, the first unit of TPCIL power plant in India commenced
operation, and the plant will be in full operation by the end of 2015.
The ongoing cutback in global exploration
and production expenditure has resulted in the scarcity of new orders
for the industry this year. Competition for new projects remains
intense. The Marine business expects to face a challenging year ahead.
Meanwhile, Brazil’s oil and gas industry continues to be mired in
uncertainty. The Marine business continues to engage with customers to
find the best way forward for the drillship projects and is exploring
all options including slowing down the construction.
The Marine business’ net orderbook to-date stands at S$10.6 billion with deliveries stretching into 2019.
In 2015, the Urban Development business is expected to deliver a performance comparable to 2014.
Despite the challenges of a low oil price
environment and a mixed global economic outlook for 2015, the Group,
underpinned by sound business fundamentals and a healthy pipeline of
projects, remains committed to delivering long-term value and growth.
The Group remains focused on project execution, as well as on
enhancing operational excellence and efficiency, to manage costs and
Summary of Sembcorp’s 1Q2015 Financial Results
• Turnover at S$2.3 billion, down 11% • Profit from Operations at S$253.7 million, down 16% • Net Profit at S$142.2 million, down 23% • EPS at 7.8 cents • ROE (annualised) at 9.7%
• On April 16, 2015, the
Group’s wholly-owned UK subsidiary, Sembcorp Holdings Limited, has
completed the sale of its 100% stake in Sembcorp Bournemouth Water
Investment (SBWI) to the Pennon group PLC (Pennon) for an enterprise
value of £191.5 million (approximately S$393 million), with cash
proceeds from the sale of £104.5 million (approximately S$214 million).
• On April 24, 2015, the Group’s wholly-owned subsidiary, Sembcorp
Utilities, has received the Notice of Award to develop and operate a
225-megawatt gas-fired power plant in central Myanmar by Myanma Electric
Power Enterprise (MEPE), a division under the Ministry of Electric
Power of Myanmar (MOEP). The total project investment of approximately
US$300 million (approximately S$418 million) is expected to be funded
through a mix of limited recourse project financing and equity.
Financial close of the project is expected in the second half of 2015.
• On April 30, 2015, the Group’s wholly-owned subsidiary, Sembcorp
Properties, through its wholly-owned subsidiary, Riverside Quay, has
acquired a 5.66-hectare mixed-use site through a public land auction in
the Sino-Singapore Nanjing Eco Hi-tech Island (SNEI) in Jiangsu
province. Sembcorp Properties will build and operate the industrial
office, which integrates technology and innovative R&D, engineering
and commercial initiatives for the water industry.
SINGAPORE: Singapore-listed Noble Group on Tuesday
(May 5) reported a first-quarter net profit of US$106.6 million (S$142
million), turning around from a loss of US$240 million in the previous
It also said its revolving credit facility has
received full commitments for the targeted US$2.25 billion, in a sign
that bankers have kept faith with the firm despite recent allegations
about its accounting practice.
Hong Kong-based Noble, which is one
of Asia's largest commodities firm, said profit for the three months
ended March was driven by "encouraging performances" from the oil
liquids and metals businesses, while operations more exposed to the
slowdown in the Chinese economy managed to put in "credible
The group had reported a net loss for the last quarter of 2014 after making some US$400 million in writedowns and other charges.
net profit for the first three months of 2015 was, however, 30 per cent
lower when compared to the same period a year ago, while revenues for
the quarter fell 7 per cent from a year ago to US$16.6 billion.
share price has fallen by around 22 per cent since the start of the
year, as entities such as Iceberg Research and US short-seller Muddy
Waters questioned the firm's accounts.
The group has denied the
claims, and recently initiated legal action against a former employee it
accused of being behind Iceberg. Noble shares rose 4.1 per cent on Tuesday ahead of its results, which were announced after the market closed.
LNG ("Golar") announced today that it has signed a binding Heads of
Terms with Ophir Energy Plc ("Ophir") for the provision of the GoFLNG
vessel Gimi. The Heads of Terms has been approved by Ophir's Equatorial
Guinea, Block-R upstream partner GEPetrol, and will be formally ratified
by GEPetrol next week.
The agreement will be structured as a 20-year
tolling contract, commencing commercial operations in the first half of
2019. Block R's 2.5 tcf of high purity 2P gas resources, situated in an
area of benign sea states, are ideally suited for the application of
Golar's GoFLNG technology.
offers a technically and commercially robust approach to developing
Block R reserves, with a competitive tariff directly comparable to the
USA Gulf of Mexico brown field LNG projects currently under
construction. Ophir and GEPetrol's selection of Golar to provide the
Gimi, is further evidence of the technical and commercial
competitiveness of GoFLNG, and the attractions of a short lead-time and
lower risk implementation.
with its partners Keppel Shipyard and Black and Veatch committed to the
Gimi FLNG conversion in December 2014. Gimi will benefit from utilising
the same configuration of utilities and liquefaction facilities as its
sister ship Hilli, with variations to accommodate production direct from
the deep-water reservoir.
full production the vessel will have a contracted capacity of 2.2 mtpa
of LNG, to be marketed by Ophir and GEPetrol. The project is expected to
deliver an EBITDA for Golar in the first full year of operation in the
region of $350M. The additional earnings associated with the vessel
variations to accommodate deep water production have not been included
in this estimate as the contracting strategy for this additional scope
has not been finalised. Gimi will be Golar's second GoFLNG vessel
following Hilli, which is scheduled to commence commercial operations in
Cameroon during the first half of 2017.
integrated Ophir/GEPetrol/Golar project is expected to take FID during
the first half of 2016 following completion of the upstream FEED study.
The short lead-time between signing of the Heads of Terms, and the
scheduled commencement of commercial operations once again demonstrates
the unprecedented pace possible for GoFLNG projects.
CEO Gary Smith commented "Golar is delighted to have secured a contract
for our second GoFLNG vessel. This commitment with Ophir and GEPetrol
to employ a GoFLNG vessel in Equatorial Guinea represents a further step
in the implementation of Golar's strategy to become the industry's
leading integrated midstream LNG services provider, supporting resource
owners, gas producers and gas consumers. Our new approach to developing
LNG projects is stimulating significant interest today.
Golar has now, based on its framework agreement with Keppel Shipyard,
commenced negotiations for the company's third GoFLNG vessel".
Cooper, Ophir's CEO commented "Finalising our midstream partner is a
significant step forward for the Fortuna FLNG project. This agreement
accelerates first gas date and reduces costs along the value chain. The
project has been refined to allow the option to deliver LNG at
attractive returns into both Pacific Basin and Atlantic Basin LNG
customers. The agreement completes the value chain economics and allows
Ophir to confidently plan for first gas, and c. 67,000 boepd of
production in 1H 2019.
a time when many other greenfield LNG projects are decelerating, Ophir
has elected to accelerate the Fortuna FLNG Project to secure what it
believes will be a better market opportunity at first gas and to lock in
anticipated reduced upstream development costs. We will now move
immediately into the upstream and midstream FEED with a view to reaching
FID by mid-2016.
are pleased to have secured Golar as a partner; the firm is a leading
provider of FLNG solutions and the flexible and competitive commercial
terms we have agreed will ensure that the final investment decision can
be taken at current LNG prices. Ophir sees many parallels with the
oil-equivalent emergence of leased-FPSO's ca. 25 years ago. This
development of re-fitting vessels and leasing them to independent
E&P companies both unlocked a series of oil fields and also provided
competitive advantage to those early adopters of the technology. Ophir
believes that the same is now about to happen for FLNG."
"Whenever we are attracted to a big potential payoff, we may want to
pause and think about the probability of actually obtaining the payoff.
Case to point: the grand prize for Singapore’s TOTO Jackpot may offer
millions of dollars, but the odds of winning is an equally daunting 13,983,816 to one."
How much can we lose in betting ToTo in our lifetime by betting for two draws per for 52 weeks per year for 60 years? We probably will lose $XX,XXX in our lifetime.
Can anyone compound $XX,XXX in the stock market to $X,XXX,XXX in their lifetime even they are super lucky in their stock pick?
Uncle8888's last life insurance policy will mature in Mar 2016 and thereafter he will be self-insured with his own fund and supported by Medisave and Medishield.
He made that decision in his 30s and works towards this 20 over years long-term personal financial goal. Now, who says long-term goal is "useless"? Sometime, Grasshoppers can learn something from Ants. Now, Ants can dance in the Sun and sleep in the Winter.
Last week, Uncle8888 happened to meet this guy who was once his ex-colleague in his younger days. This guy rose fast in his career development to reach middle management. In his late 40s or early 50s; he probably has enough FU$/No Thanks$ to walk away from his day job.
Two months ago, he decided to retire early. If Uncle8888 remembered correctly he should be about 55 or 56. A few years younger than him.
His reason given for early retirement from his day job is that he would like to spend more time doing charitable works like delivery of food to the needy.
Guess what happen?
Just after three weeks of retirement, he is back to work. Lucky his vacancy was not filled and he got back his old day job.
We must bear in mind. Once we are so active and busy working in scheduled tasks and routine work environment; it is never easy to flip over ANYTIME to unscheduled and UN-busy world in retirement where time freedom is luxury but became too much to handle.
Real people. Real Story.
Retiring from your day job is NOT a flip over switch to retiring. We must duly prepare ourselves for this transition to the world of retirement. It is never voluntary flip over switch to retirement. Right?
Many newbies or virgin retail investors will go around asking: "What to invest?" Probably, that might be the reason why they didn't learn much after some years and still virgin.
Even when they attended educational investment seminar (not those previews to paid investment/trading course), they also tend to ask "What to invest?"
Next time, try asking "How to invest?" and that may change your way of thinking on investing.
You may need to bring along a notebook and a pen to jot down pointers for more thinking. Ask "How" instead of "What".
When you ask "How to invest?". It may trigger the reverse engineering way of investing by focusing from your investing end goals and working backwards to find out your investing strategy and plans to meet your investing goals at XX years down the road.
You will set yourself thinking on 3Ms on investing - Method, Mind and Money Management and not just Method. (What?)
Try asking "How to invest?" next time when you need to ask.
Long-term investing is more than just knowing what to invest.
The above is not applicable for Grasshoppers. Happy. Go lucky. Why bother about investing? Right!
How much is enough to SPEND till the last day of our retirement here on Planet Earth?
The answer may not be that tough as compared to how much is enough? Don't think there is magic number for wealth accumulation to be enough. End of month tracking for Apr 2015; but a revised way of looking at Uncle8888's living expenses tracking chart.
It may not be so tough to answer how much is enough to spend if we have been tracking our past living expenses diligently. Hindsight learning can proved to be very useful if we are willing to be consistent with our past lifestyle.
Seems millionaires are beset by stress
and anxiety like the rest of the general population and part of that
fear is they could lose it all, and then have to join the hoi polloi.
No matter how much wealth is accumulated, they fear they could lose
it all with one wrong move, according to a UBS report released on
Half of those with US$1-5 million are afraid that one major setback
such as job loss or market crash would have a significant impact on
their lifestyle, versus 34 per cent of those with US$5 plus million.
For millionaire parents working full-time, the anxiety is even
greater - 63 per cent feel that one major setback would have a
significant impact on their lifestyle.
The Swiss bank surveyed 2,215 US investors with more than US$1
million in net worth for the report, UBS Investor Watch, a quarterly US
publication analysing investor sentiment and behaviour.
It revealed that while millionaires recognise their good fortune,
they feel compelled to strive for more and also their desire to protect
their families' lifestyle, and an ever-present fear of losing it all.
"As a result, many feel stuck on a treadmill, without a real sense of
how much wealth would make them satisfied enough to get off," the
"The majority of millionaires say they have worked hard to earn their
wealth and appreciate the lifestyle it affords them and their families.
"But enough never seems to be enough - even the wealthiest continue
on the treadmill to achieve a better life," said Paula Polito, UBS
Wealth Management Americas, client strategy officer.
Having worked hard for their millions, they feel they need even more to live the luxurious lifestyle.
The survey found that more than three-quarters of millionaires (77
per cent) grew up middle class or below. Working their way up the
socioeconomic ranks was a conscious aim, as 61 per cent aspired to
become millionaires and 65 per cent felt it was an important milestone
to reach the US$1 million mark.
Fifty-eight per cent of millionaires report feeling increased expectations for their standard of living over the last 10 years.
Those with US$1 million want US$2 million; those with US$10 million want US$25 million.
Young millionaires are the most anxious, it seems.
They are constantly checking to see how much their peers have and worry about funding their lifestyles.
Millennials are more insecure and conscious about how their wealth
compares to that of peers (68 per cent of millennials vs 53 per cent of
baby boomers). Millennials are seen as those born from the early 1980s
while baby boomers were born after the second world war.
With so much of their peers' lifestyle and spending information
available online and through social media, millennials are most likely
to say they feel pressure to "keep up with the Joneses" the report said.
"This sense of competition manifests itself in their career decisions and personal behaviour," it said.
For example, millennials are more likely to feel pressure to work
long hours (49 per cent of millennials vs 28 per cent of boomers).
Three-quarters of millennials have checked online for their peers'
salary, career history, home price or purchases (74 per cent for
millennials vs 57 per cent for boomers).
Even though millennials who are already millionaires are typically very successful, only 48 per cent believe they've "made it".
"They are the least content with their wealth and most likely to fear
losing it. They also worry more about not having enough wealth to live
the life they want."
Avoid speculating; own blue chips: What did he buy? He owned
95 stocks, with many blue chips among them: Procter & Gamble,
JPMorgan Chase, General Electric, Johnson & Johnson, Dow Chemical.
He also owned consumer names such as J.M. Smucker and CVS Health. Like
an investor named Warren Buffett, he avoided technology stocks and the
hot stocks of the moment. He did not own a concentrated
portfolio; instead, he had a diversified portfolio with lots of
companies in many sectors. This diversification allowed him to spread
the risk broadly. Even owning failures such as Lehman Brothers had only a
modest impact on his returns.
SINGAPORE: DBS Group’s net profit rose 10 per cent
year-on-year to a record S$1.27 billion in the first quarter of 2015,
the bank announced on Monday (Apr 27).
Said Chief Executive
Officer Piyush Gupta: “DBS started the year on a solid footing, with
strong all-round performance yet again. Despite a slowdown in trade
volumes, the bank’s first-quarter earnings reached a record high. This
is testament to the strength and resilience of the DBS franchise. We
will continue to grow our business, while keeping a watchful eye on the
The spike in profit came as DBS’ total income grew 12
per cent to S$2.74 billion, amid net interest income and non-interest
income reaching new highs. The growth was broad-based across all
business units, the bank said in a news release.
income increased 14 per cent to S$1.69 billion. Loans grew by 11 per
cent to S$281 billion, as an increase in regional corporate borrowing
and secured consumer loans was partially offset by a decline in trade
loans, DBS said.
The bank’s non-interest income crossed S$1
billion for the first time, rising 9 per cent to S$1.05 billion. The fee
income increased 10 per cent to S$560 million. Meanwhile, contributions
from wealth management rose 43 per cent from higher unit trust and
insurance sales, and fees from credit and debit cards rose 23 per cent.
non-interest income grew 7 per cent to S$486 million. Income from
investment securities tripled to S$103 million amid profits from
All business units also attained record
income, said DBS. The Consumer Banking/Wealth Management income rose 29
per cent to S$861 million, and income from Institutional Banking came
in at 5 per cent higher, at S$1.35 billion. Meanwhile, Treasury income
rose 38 per cent to S$386 million.
There was also a one-time gain of S$136 million during the quarter, from the disposal of a property investment in Hong Kong.
total expenses rose 13 per cent to S$1.18 billion, in line with income
growth. Profit before allowances were up 10 per cent to S$1.56 billion.
Total allowances were 20 per cent higher at S$181 million, but general allowances of S$21 million were lower than a year ago.
Not exactly how to fix his investing strategy into the commonly known investing theme - Diversify or Concentrate? Uncle8888 is more of Diversify into rounds after rounds and leaving behind some Concentrate for storage like fake orange or apple juice.
His top three holding value of Kep Corp, Sembcorp Ind, and DBS at last Friday market closing price plus all past realized short-term P/L and accumulated dividends as percentage of his net worth.
Recently, he has been selling down his stake in DBS to return money to His CPF.
This colleague said Uncle8888's CPF sibei solid. He still have a few more years to go with his housing loan. He have upgraded; but Uncle8888 is still living in his 28 years old 4-room HDB flat. In life, we will have to live with some trade off since most of us have limited capability and ability. We will live under those decisions which we have made in the past for a long time. If Uncle8888 hasn't fought off his wife over the years not to upgrade, today his CPF will be jialiat too!
A bigger house is a bigger asset; but we have to make a U-Turn to monetize the net value. There is no free lunch!
I am 58+ yrs old uncle living in HDB heartland doing long-term investing and short-term trading in Singapore stock market only.
I am still making my way to an early retirement by 2016 at 60 yrs old. Official retirement age in Singapore is 62; but can be re-employed up to 65.
I have two sons and one daughter. Two working adult children and the youngest son is in NS.
My wife is a home CEO without income. There are two mouths counting on me for financial support, so I have to do well in this investing journey. There is little room for failure!
Last updated: 22 May 2014
Disclaimer: Stock trading involves significant risks. Create Wealth trader is not a licensed Investment Adviser and will not be responsible for any losses which you incurred. You are advised to always do your own homework before making any trading decision.