I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

Click to email CW8888 or Email ID : jacobng1@gmail.com

Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down

Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Saturday 28 February 2015

Higher salaries for graduates from Class of 2014: Survey


SINGAPORE: Those who graduated from Singapore’s big three autonomous universities last year were paid more than their counterparts who completed their studies in 2013, according to the results of the Joint Graduate Employment Survey.

The survey was conducted by Nanyang Technological University (NTU), National University of Singapore (NUS) and Singapore Management University (SMU). Out of a total of 13,656 full-time, fresh graduates, 10,126 took part in the survey, the universities said in a joint news release on Friday (Feb 27).

The mean gross salaries of fresh graduates increased 3.22 per cent on-year to S$3,333 in 2014, the universities said. The median gross salaries saw a 4.91 per cent increase to S$3,200 last year, from the year before, they added.

The survey also revealed that those from the law and medicine faculties remain the highest-paid fresh graduates when they enter the workforce.

The survey showed that as of Nov 1, 2014, the overall employment rate was 89.1 per cent, and about four in five of these graduates were employed in full-time permanent jobs within six months of completing their final examinations. This is similar to the employment rates achieved in 2013.

A survey was also conducted among NTU, NUS and SMU graduates from the Architecture Class of 2011 who completed their practical training, and Class of 2013 graduates from the Biomedical Science (Traditional Chinese Medicine), Law, Medicine, and Pharmacy courses who completed their one-year practicum last year.

The mean gross monthly salary among these follow-up graduates in full-time permanent employment was S$4,751 last year, up from S$4,575 in 2013, the universities said. The median gross monthly salary also increased from S$4,500 in 2013 to S$4,800 last year.

Friday 27 February 2015

Benchmarking for review, revise and TRYING to improve our own performance???


Even Warren Buffet also slowing down!

Look like it is getting harder to find under valued stocks to invest?

See for yourself?

Noble Group's FY14 profit tumbles 46%; writes off US$200m for Yancoal

NOBLE Group's net profit in 2014 fell 46 per cent to US$132 million, despite a rise in revenue, as its losses on supply chain assets soared.

The largest commodities trader in Asia by sales saw revenue grow 4 per cent to US$85.8 billion, on volume growth from 187.2 million tonnes to 215 million tonnes.

But losses on supply chain assets rose six-fold to US$290.1 million, from US$46.2 million a year ago.

The group said that it had written off US$438 million for the year, including US$200 million for Yancoal, the valuation for which has been criticised by research firm Iceberg Research.

 The research firm had questioned Noble's accounting treatment of certain subsidiaries and said that the group overstated the value of Yancoal by US$603 million
Noble Group declared a dividend of US$0.007 for each share, compared with US$0.0091 in 2013.

Noble Group, which has halted trading of its shares after a second report by Iceberg, is expected to provide further details of its rebuttal against the research firm in a conference call later on Thursday evening.

NOBLE Group has fingered a former employee as the person behind Iceberg Research, as it reported on Thursday its first quarterly loss in three years due to a heavy impairment charge on an associate.

The author of the research reports is a "disgruntled" former employee that the group fired 11/2 years ago, Noble chief executive Yusuf Alireza revealed in a briefing call.

"We have a high degree of confidence we know who it is," he said. The company has handed the information over to the regulators and does not intend to take any legal action against the person.

"We don't plan to spend any management time on it or shareholders' resources on it... Our stakeholders will judge us not by an anonymous blogger but by our results, and that's what we want to focus on."

The largest commodities trader in Asia by revenue posted a net quarterly loss of US$240 million - its first since September 2011, against a net profit of US$117 million a year ago. For the three months ended Dec 31, revenue dropped 14 per cent to US$21 billion.

For the full year, net profit almost halved to US$132 million, missing by far the average estimate of US$470.6 million by 13 analysts, according to Bloomberg data. Revenue was 4 per cent higher at US$85.8 billion.

Notwithstanding these, "2014 was a landmark year for us", said Mr Alireza, pointing to how the sale of Noble Agri had freed up its balance sheet, and "breakthroughs" in performance and market penetration, in particular by its oil liquids and power businesses in the US.

The group said that it had written off US$438 million for the year, including a US$200 million charge for Yancoal Australia, the valuation for which had been criticised by Iceberg Research.

The little-known research firm had earlier questioned Noble's accounting treatment of certain subsidiaries and said that the group overstated the value of Yancoal - the Australia-listed coal miner in which Noble has a 13 per cent stake - by US$603 million.

Noble, however, said that its latest results had not been affected "in any way" by the Iceberg report. The group reviews the value of its associates and investments on a quarterly basis, and on a more detailed level annually.

It arrived at the value for Yancoal based on a cash flow model that has been verified by both internal control functions and its auditor EY, and used conservative assumptions around input variables such as production levels, fuel inputs and coal prices.

The model provides for a range of values, and "we have impaired Yancoal right below the bottom of that range", said Mr Alireza, who also called Iceberg's suggestion of using the market capitalisation of Yancoal as its value "naive".

Both its board and auditor are comfortable with the adjustments in value, he added.

Noble's shares have fallen 12 per cent since Iceberg published its first report on Feb 15. Its website does not provide any contact details nor other identifying information.

In its second report on Thursday, Iceberg pointed to a "divergence" between Noble's net profit and operating cash flow as a result of Noble overstating the fair value of its long-term contracts.

Noble has a practice of booking the entire profit for long-term unrealised contracts the same day they are signed, said Iceberg. It also suggested that Noble had manipulated projections for forward prices and tonnage to inflate the fair values of these contracts. "These contracts surged from near zero in 2009 to an unprecedented net US$3.8 billion," it said in a 28-page report released before Noble announced its results.

Impairing these values would "dramatically impact" Noble's financial performance.

Iceberg further accused Noble of stretching accounting rules "to the maximum", though it said that there was no outright accounting fraud.

Noble rejected these claims of inflated unrealised contract values as "factually incorrect". Iceberg had ignored the fair value of inventory, and the effect of short-term rolling hedging versus the long-term physical contracts, it said.

The group has a consistent mark to market - or the practice in measuring the fair value of its contracts - policy, Mr Alireza emphasised. "This is our core business."

As part of the asset-light strategy that the group is pursuing, its business model relies on the group's ability to manage market, credit and operational risks for buyers and sellers. The group manages 12,000 contracts with a weighted average duration of five years.

These are marked to market in order to provide profit and loss figures daily, said Mr Alireza. "It's a function of risk management."

Iceberg Research is expected to release a third report that will focus on Noble's debt levels and its investment grade credit rating. Noble's shares, which were suspended on Thursday morning following the second attack by Iceberg, will resume trading on Friday.

Thursday 26 February 2015

The Edge Singapore's 10 Stock Picks for 2015

Semb Corp Industries

Few Star Bloggers have been talking about it. Now we have The Edge talking too.

Has Uncle8888 being right for more than a decade?


No Kids? Better to be nice to your nephews or nieces!!!

 Another case that was exposed by their nieces!

Read? Cleaner, 70, conned into handing over salary for 15 years

No Kids? 

Better to be nice to your nephews or nieces!!!

One day, many of us will become dementia. How can we stop those evil eyes on our money?

Get it?

Wednesday 25 February 2015

The Other Lesson That Bamboo Can Teach Long-Term Investors???

Read? One Lesson That Bamboo Can Teach Investors

Read? The Amazing Chinese Bamboo Plant

The Chinese Bamboo plant starts from a tiny seed. You plant the seed in the dirt, and you water the seed. Very little seems to happen the first year. Despite your efforts, only a tiny shoot pokes out of the ground.

So…..the second year you water and fertilize and protect the seed…..Nothing happens.

So…..the third year you water and fertilize and protect the seed…..Nothing happens.

So…..the fourth year you water and fertilize and protect the seed…..Nothing happens.

So…..the fifth year you water and fertilize and protect the seed.…. Finally, during the fifth year, the Chinese Bamboo plant begins to grow. In fact, it grows 90 feet tall in just 6 weeks!

The question is, did it grow 90 feet in six weeks or in five years? 

The answer, of course, is that it grew 90 feet in five years. It took five years to grow the root system that would one day support a 90-foot plant.

Uncle8888's investing lesson from the Bamboo:

He has been waiting patiently for 5 years to grow the root system that would one day support a 90-foot plant.

Guess what is his root system?

 Less analyzing. More investing - Createwealth8888

Still nothing happens.

Waiting since 2012!


Tuesday 24 February 2015

Melbourne ChinaTown: Remembering Chinese New Year Just Like in early1960s in Singapore

Lion Dance and Fire Crackers

Additional 1 per cent extra interest on the first S$30,000 of CPF balances from the age of 55.

$300 more from CPF for me to lim Kopi!

No fish. Prawn also can!

Wednesday 18 February 2015

Locking Up Your Dividends In Your CPF Investment Account for 2.5% CAGR

CPF OA @ 2.5% may not look attractive enough?

Compounding interests work best over long period!

Reading and listening may  not convince you to act on it. You may need to measure it and appreciate it yourself.

Real People. Real Compounding Interests at Work!

Growth Dividend or Income Dividend???

It is just too difficult to see that far so we should just treat it as luck or patience!

Anything else above 5% yield is nice bonus to have.

So let us have more good lucks in 2015/2016 for our stock pick!


Tuesday 17 February 2015

Sembcorp Posts Net Profit of S$801.1 Million in FY2014

FY2014 Results Highlights

• Delivers healthy performance amid challenging market conditions
• Group net profit up 3% excluding significant items
Proposes final tax exempt one-tier dividend of 11.0 cents per ordinary share, bringing total dividend to 16.0 cents per ordinary share

CW8888: Is 16 cts the new normal dividend payout?

Sembcorp Industries (Sembcorp) delivered a healthy performance for the full year 2014 (FY2014) amid challenging market conditions. FY2014 net profit was S$801.1 million, while turnover stood at S$10.9 billion. The Group’s net profit grew 3% from the previous year excluding significant items recorded in 2013.

These significant items comprised gains from the initial public offering of Sembcorp Salalah Power and Water Company, offset by an impairment made for utilities operations in the UK as well as a fair value loss recorded following the reclassification of Gallant Venture as an available-for-sale financial asset. The Utilities and Marine businesses continued to be the main profit contributors at 51% and 42% of Group net profit respectively.

In 2014, our Utilities business contributed S$408.0 million in net profit to the Group, while our Marine and Urban Development businesses contributed S$340.0 million and S$44.3 million to the Group’s net profit respectively.

Return on equity for the Group was 15.2% and earnings per share amounted to 44.3 cents. Economic value added was a positive S$524.7 million while cash and cash equivalents stood at S$1.7 billion.

In the fourth quarter of 2014 (4Q2014), Group net profit increased 8% to S$240.6 million, while turnover stood at S$2.7 billion.

Tang Kin Fei, Group President & CEO of Sembcorp Industries, said, "Sembcorp delivered a healthy performance in 2014. Going forward, we remain committed to delivering long-term value for our shareholders, and will maintain our focus on operational excellence and on building platforms for growth.

“Strategically positioned in key emerging markets, we continue to expand our energy and water businesses. In February, we accelerated our growth in the renewable energy sector with our acquisition of Green Infra, a leading renewable energy group in India. With investments in both thermal and renewable energy, Sembcorp is well-positioned for growth in the energy sector with a balanced portfolio of energy assets.”

Y2014 Dividend

The Board of Directors is pleased to propose a final tax exempt one-tier dividend of 11.0 cents per ordinary share. Together with an interim dividend of 5.0 cents per ordinary share paid in September 2014, this brings total dividend for the year to 16.0 cents per ordinary share. If approved by shareholders, this will be paid on May 18, 2015.

FY2015 Outlook


In Singapore, the business environment is expected to be challenging in 2015 with intense competition in the power market as well as low oil prices. Overseas, our 1,320-megawatt power plant in India will commence operations in phases in 2015. 

The Utilities business remains focused on operational excellence and efficiency, as well as the execution of its significant pipeline of projects and the pursuit of new growth opportunities to deliver long-term growth.


With the steep decline in oil prices in the second half of 2014, major oil and gas companies have announced reduced capital expenditure and deferred some of their planned projects. The Marine business continues to face tough competition in upcoming tenders in the offshore exploration and production sectors.

For the ship repair sector, demand for the business’ big docks remains strong which would help cushion the impact of weaker demand in the offshore rig building segment.

The business’ performance in 2015 will be supported by its orderbook.

Urban Development

The Urban Development business is expected to deliver a steady operating performance in 2015.


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.

Summary of Sembcorp’s FY2014 Financial Results

• Turnover at S$10.9 billion, up 1%
• Profit from Operations at S$1.3 billion, down 1%
• Net Profit at S$801.1 million, down 2%
• EPS at 44.3 cents
• ROE at 15.2%
• Proposes final tax exempt one-tier dividend of 11.0 cents per ordinary share, bringing total dividend to 16.0 cents per ordinary share

Excluding significant items* in FY2013:

• Net Profit at S$801.1 million, up 3%

*Significant items in FY2013 amounted to S$43.5 million, comprising the gain from IPO of Sembcorp Salalah Power and Water Company, an impairment for Teesside UK operations and a fair value loss for Gallant Venture.
- End -

Yield of dreams: Investors have "a once in a lifetime opportunity" in blue chips (5)

Read? Yield of dreams: Investors have "a once in a lifetime opportunity" in blue chips (4)

Same stock. Same person. But different outcomes!

It just tells you the most important lesson in long-term investing.

Market timing and Time in the market. 

Both are equally important.

The Good. The Bad and The Ugly

The Good!

Dividend Yield on cost 318% over 12+ yrs or 26% p.a.


Wishing You And Your Family Gong Xi Fa Cai and Happy Lunar New Year. Good Health in the Year of Goat!

On Blog Leave from 18 to 23 Feb 15

Monday 16 February 2015

JTC, Temasek units' merger to be complete by June

SINGAPORE: A proposed merger of four urban solutions firms under industrial landlord JTC Corporation and investment company Temasek will go ahead - and is expected to be completed by June 2015.

The tie-up between Ascendas, Singbridge Group, Jurong International and Surbana International Consultants will create an integrated platform for sustainable urban development to pursue large-scale and complex projects across the region. The combined entity will have an estimated value of S$5 billion.

Temasek and JTC Corporation first announced in September 2014 that they were in negotiations to explore a merger of the four units.

In a statement on Monday (Feb 16), Temasek said it will hold a 51 per cent stake in the new group, with JTC holding the rest. The group will be made up of two independent units.

Ascendas and Singbridge will form the group's asset investment and holding arm, which will originate, aggregate and provide urban solutions. Singbridge chairman Wong Kan Seng will be the arm's chairman, with Singbridge executive director Miguel Ko as chief executive.

The second unit will comprise Surbana and Jurong International, and forms the group's building and engineering specialist services unit providing sustainable solutions through technology. Surbana Chairman Liew Mun Leong will be the unit's chairman, with Mr Wong Heang Fine as chief executive.

The four companies already have experience in urban planning and development in markets like China and India.

Temasek and JTC said the integration of the firms will provide flexibility and nimbleness in going after projects across the entire urban development value chain. They added that current business and operations of the four operating subsidiaries will see minimal impact from the merger.

Amazing thing can happen in the stock market at any time???

CW8888: This is amazingly craziness in the stock market! 

Wah! 63.6M shares changed hand due to a Report from a Wordpress blog and two tweets!

Who is Iceberg? 

The report and the company's website offer few clues to the identity of Iceberg. The website is a Wordpress blog, it has no archived reports and its "about" section claims only that Iceberg identifies earnings misrepresentations. 

While it has a Twitter account, it has only tweeted twice: once to announce it was initiating coverage of Noble and a second time to claim it has no short interest in the company's stock.

Iceberg told CNBC it was experienced in financial analysis, but chose to remain anonymous as "we would like people to focus on the strength of the arguments." 

"We do it because (a) it is the right thing to do, (b) many have remarked that there were a few odd things in Noble's financials and it is time to put it on the table (after all it is a public company)," it said in emailed comments, adding that it hasn't sold this report or its next two reports. "We do not make any money from this (at any level)." 

Iceberg declined to provide further details, such as how many people wrote the report.

Read? Are short sellers gunning for Singapore again?

Households earning more in 2014: SingStat

SINGAPORE: Households are earning more in 2014 compared to the previous year, according to the latest report by the Singapore Department of Statistics (SingStat) on "Key Household Income Trends, 2014".

Median monthly household income among resident employed households - a household headed by a Singapore citizen or Permanent Resident and with at least one working person - from work rose from S$7,870 in 2013 to S$8,290 in 2014. This is a 5.3 per cent increase in nominal terms, or a 4.1 per cent increase in real terms, after taking inflation into account. 

Median monthly income from each member of the household also rose from S$2,247 in 2013 to S$2,380 in 2014. This is an increase of 5.9 per cent in nominal terms, or 4.7 per cent in real terms. 

Overall, resident households received S$3,370 per household member on average from various Government schemes in 2014. 

This is 25 per cent higher than the average amount of S$2,700 received five years ago, in 2009. 

However, this was lower than the average of S$3,650 received in 2013, owing to a lower level of one-off transfers in 2014, said SingStat. Government structural transfers - transfers excluding one-off payments, rose in 2014 compared to 2013.

Why Long Term Investing Can Be So Challenging For Retail Investors???

"It's not whether you're right or wrong that's important, but how much money you make when you're right and how much you lose when you're wrong." ~ George Soros

 "In investing, our account size really matters!" - CW8888

Time Factor in Saving vs. Investing???

Over long run, we have to get them all right. 

Right timing. Right stocks. Right sizing!

Getting Three Rights!

It can be so challenging for retail investors. Right?


Impressive Yield on Cost!

If one invested $300K in 2001 into Kepcorp, his dividend is $109K!

So, size does matter beside high yield.

    Exactly! Well said.

    That is why I always emphasize it - "In investing, our account size really matters!"

    Our winning stocks have to be among our top holding to have meaningful contribution to our passive income and building wealth from the stock market.


Pursue Financial Independence, not just work till retirement


Wah! Writing to ST Forum as a letter.

How about you?

Sunday 15 February 2015

To Sell or Not To Sell??? (5)

Read? To Sell or Not To Sell??? (4)

SMOL: "When do you sell? When the stock is fully valued? Or when it's overvalued?"

The Best Investors In The World Are Dead People: Mohnish Pabrai

Read more? The Best Investors In The World Are Dead People: Mohnish Pabrai

To Sell or Not To Sell??? (4)

Read? To Sell or Not To Sell??? (3)

Read? Your Own Personal Investment Return that matters!!!

To Sell or Not to sell?

In LONG term investing, our own personal investment return that really matters and that will made the big difference among retail investors doing about the same thing in the same market. 

However, in short run, there is not much difference, most of us are likely to get what Mr. Market also gives to many other investors in the same market.

So in the long run, grow your Money Tree. 

Sit back. Relax and collect money. 

How bad can it be?

See your Future You?

Did you see?

Saturday 14 February 2015

To Sell or Not To Sell??? (3)

 Read? To Sell or Not To Sell??? (2)

What if Uncle8888 has sold them at 2007 Peak stock price for his top 3 best?

Mixed or Not exactly right or wrong.

Sell or Not to sell?

The Myth Of The Bell Curve: Look For The Hyper-Performers (3)

Read? The (In)Sanity about the Bellcurve System

Read? The Myth Of The Bell Curve: Look For The Hyper-Performers (2)

This is Hard Truth for every older worker who is under the Bell Curve system.

 Most of the older human assets will eventually lose out one day to their younger peers.

That is why! 

We MUST eventually switch over to our financial assets to continue our life journey to beat this Bell-curve system.

Read? Horse, Cow, and Pig (Re-posted)

Uncle8888 has also discovered one advantage of this Bell Curve system. We are likely to benefit more from this system as office Pigs when we are no longer looking forward to our year-end bonus as incentives since our passive income is far more than our bonus.


To Sell or Not To Sell??? (2)

 Read? To Sell or Not To Sell???

How NOT to sell and still meet our price target to sell?

Uncle8888 has done many times. It is not too difficult to do it.

We can have our cake and eat it too. We can hold winning stocks for that long and still be selling "them" quite often too.

A Value Investor in mind and Trader at heart? It shouldn't be mutually exclusive.

When do Uncle8888 sell?

Yes and No.

So cheem again?

Friday 13 February 2015

Oil tops $60 for first time in 2015, industry spending cuts support


Pumpjacks operated by XX pump petroleum from the ground on September 23, 2014 near Ruehlermoor, Germany.
Getty Images
Pumpjacks operated by XX pump petroleum from the ground on September 23, 2014 near Ruehlermoor, Germany.
Oil rose above $60 a barrel on Friday for the first time this year, bringing its gain this week to almost 4 percent, supported by signs that deeper industry spending cuts may curb excess supply.

Also supporting oil, growth in Germany's gross domestic product beat expectations, as did plans for a meeting between Greek officials and creditors. Euro zone GDP data is due later on Friday.

Read MoreShiller warns bond investors: Beware of 'crash'!

The price of Brent crude collapsed from $115 in June to $45.19, the lowest in almost six years, in January due to oversupply. Since January, mounting signs of lower industry spending have helped prices move higher.

Apache Corp, a top U.S. shale oil producer, said on Thursday it would cut capital spending and its rig count in 2015 following the price collapse, keeping its output growth mostly flat. 

Brent for April delivery was up 76 cents at $60.04, after briefly gaining more than $1. The March contract expired overnight. U.S. crude was up 61 cents at $51.82.

"During the last weeks, crude oil rebounded driven by improved market sentiment and by expectations that low prices will lead to lower supply growth in 2015," said Daniela Corsini, analyst at Intesa Sanpaolo, in a report.

Read MoreThe looming threat to American oil output

Besides Apache's update, Royal Dutch Shell's chief executive said on Thursday supply might not be able to keep up with growing demand as companies reduce budgets, and France's Total announced investment and job cuts.

Still, analysts at JBC Energy in Vienna pointed out in reference to Apache's moves that spending cuts can easily be reversed.

"While the company expects North American onshore production to be flat this year, they emphasize their flexibility to come back very quickly if the price environment or the cost structure changes sufficiently," JBC said.

"This is generally what makes most people doubt that the latest rally can be sustained."

A weaker U.S. dollar, which makes dollar-denominated commodities cheaper for holders of other currencies, has also supported oil this week, analysts say.

To Sell or Not To Sell???

To buy is not difficult. 

We just need to accumulate enough spare money. We will buy!

To sell or Not to sell?

This is a very difficult decision to be made by retail investors. 

Don't believe? Ask those veterans.

We often either hold on for too long or sell too early.

So how?

As long-term retail investors, we may need to instil in ourselves some selling habits and NOT selling habits too.

So cheem!!!

Think about it?

Got model answers?


87,900 households have rented out their flats or rooms

SINGAPORE: As at Jan 31, 87,900 households have rented out their flat, or one or more rooms. Ninety-two per cent of these are Singaporean households, while the remaining 8 per cent are owned by permanent residents. Since January 2013, the Housing Development Board (HDB) has disallowed permanent residents from subletting their entire flats.

These figures were given by Minister of State for National Development Maliki Osman in Parliament on Thursday (Feb 12), in response to questions by MP for Hougang, Png Eng Huat, on HDB flat rentals. 

Mr Png had also asked how HDB would ensure that flats are properly rented out, and that the number of occupants and tenancy lengths were also within legal limits.

Dr Maliki said: "Every lessee of the flat knows the regulations and as they are subletting the rooms, they are supposed to register the number of tenants that they have in their rooms. HDB monitors that quite closely. 

We also require the help of local grassroots to let us know should the tenancy breach the agreement set out by the HDB ... so that we can continue to enforce when necessary."  

Wednesday 11 February 2015

Sembcorp to Acquire a Renewable Energy Company in India with a Wind and Solar Portfolio

– A major step in Sembcorp’s strategy to grow its renewable energy business and capabilities

– Driving growth with a balanced portfolio of thermal and renewable energy assets

Sembcorp Industries (Sembcorp) today announces that its wholly-owned subsidiary, Sembcorp Utilities, has signed agreements to acquire a 60% stake in Green Infra, a renewable energy company in India with a wind and solar portfolio. This acquisition marks Sembcorp’s entry into India’s attractive renewable energy market, and is a major step in the company’s strategy to grow its renewable energy business.

Sembcorp signed a shareholders agreement and a share purchase agreement with IDFC Private Equity Fund II and IDFC Private Equity Fund III, to invest in a 60% stake in Green Infra for Rs 10.6 billion (approximately S$227 million). The investment will be held through Sembcorp Renewables, a wholly-owned subsidiary of Sembcorp Utilities.

IDFC Private Equity Fund III, which is managed by IDFC Alternatives, will continue to hold the remaining 40% stake in Green Infra. IDFC Alternatives is indirectly wholly-owned by IDFC Limited, which is listed on the Mumbai Stock Exchange and is 16.4% owned by the government of India.

Tang Kin Fei, Sembcorp Group President & CEO, said, “This acquisition will provide Sembcorp with a platform to grow our renewable energy business. Green Infra’s strong capabilities and experienced team will help to accelerate our growth in the renewable energy sector not only in India, but globally. Meanwhile, with investments in both thermal and renewable energy, Sembcorp is well-positioned for growth in the energy sector with a balanced portfolio of energy assets.”

One of the leading renewable energy groups in India, Green Infra adds to Sembcorp a sizable 516-megawatt operating asset portfolio. It also holds assets under development that will bring its total installed power capacity to 700 megawatts by 2015. Comprising 665 megawatts of wind and 35 megawatts of solar assets in operation and under development, and located in six renewable resource-rich states in the southern, western and central regions of India, Green Infra’s portfolio will almost triple Sembcorp’s current renewable energy generation capacity globally to over 1,000 megawatts. The acquisition will also provide Sembcorp with solar power capabilities, and broadens the technology footprint of Sembcorp’s current renewable energy portfolio beyond wind, biomass and energy-from-waste.

The major part of Green Infra’s electricity output is sold under long-term power purchase agreements with India’s state electricity boards, while the remaining output is sold under long-term contracts with commercial customers. In addition, Green Infra has identified a strong pipeline of new projects to underpin its future growth.

The Rs 10.6 billion (approximately S$227 million) acquisition cost will be funded through a mixture of internally generated funds and debt financing. Completion of the transaction is expected by the end of the month.

The acquisition is not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries for the financial year ending December 31, 2015.

- END -

Investing CPF funds to provide adequate retirement funding???


About 358,000 members in FY 2014 (40% of total CPFIS-OA investors) made realised losses, 2 percentage-points improvement compared to about 374,700 members (42% of total CPFIS-OA investors) in FY 2013.


You can see that so many members were losing their hard earned money!

But, your friendly remisiers are recommending for these members to lose even more money.



Where Is The Real Issue With CPF For Retirement Income For Life??? (2)

Read? Where Is The Real Issue With CPF For Retirement Income For Life???

Your CPF Investment Account as War Chest of last resort?

Uncle8888 rarely touches his CPF Investment Account. When he did, see what happen after that ...

Tuesday 10 February 2015

$386M allegedly missing, as investors fear bitcoin Ponzi


Hong Kong-based bitcoin exchange MyCoin has allegedly shut its doors and stolen HKD 3 billion ($386.9 million) in the process. 

The South China Morning Post reported Monday that 30 MyCoin clients approached a local lawmaker with complaints that the company had fled with funds from up to 3,000 investors. 

The reports coming out of Hong Kong would seem to indicate that there may have been a Ponzi scheme at play. 

"No one seems to know who is behind this," a woman surnamed Lau, who said she lost HKD 1.3 million, told the paper. "Everyone says they, too, are victims … but we were told by those at higher tiers [of the scheme] that we can get our money back if we find more new clients."

One warning sign of a pending collapse could have been that when the company changed its trading rules to bar people from exchanging all of their bitcoins unless they solicited new investors for the firm. 

As bitcoin-focused site CoinDesk reasons, the incident may lead to new regulations for the cryptocurrency industry in Hong Kong, "which has so far operated with little scrutiny." 

According to the SCMP, MyCoin had hosted events at luxury hotels and a roadshow in Macau in 2014. 

MyCoin did not immediately return a request for comment.

DBS' full-year net profit rose 10 per cent to hit a record S$4.05 billion,

 CW8888:  Read? Your Own Personal Investment Return that matters!!!

DBS full year dividend is at $0.58 and that will translate to Uncle8888's personal yield on investment cost @ 7.7%.

7.7% is a decent yield but nothing to shout about. It is unlike Keppel Corp's Yield of dreams of  36.5% in FY 2014 full year dividend of $0.48

The Moral of Story ...

Is your own personal investment return worth the long and patient wait?

Read?  Yield of dreams: Investors have "a once in a lifetime opportunity" in blue chips (4)

SINGAPORE: DBS Group Holdings posted a 4 per cent rise in fourth-quarter net profit and notched record full-year earnings.

Net profit for the October-December period came to S$838 million, below an average forecast of S$931 million from six analysts polled by Reuters.

That compares with a net profit before exceptional items of S$802 million in the same period a year earlier. In the previous year, the sale of a stake in a Philippine bank boosted overall net profit to S$973 million.

Bad debt provisions rose 40 per cent to S$211 million, while trading income dropped 44 per cent with the bank blaming less favourable trading conditions.

DBS' full-year net profit rose 10 per cent to hit a record S$4.05 billion, the bank said.

Monday 9 February 2015

Shocking Discovery On My ILP. This is timeless blog post since ILP will be around for a long time! (2)

Read? Shocking Discovery On My ILP. This is timeless blog post since ILP will be around for a long time!

Words are not always helpful! 

How about a picture?

You still don't understand?

Keppel, Sembcorp Marine refute bribery allegations

Companies separately deny paying bribes to Brazil's scandal-plagued oil giant Petrobras


KEPPEL Corporation and Sembcorp Marine have separately refuted claims of bribery in Brazil involving scandal-plagued oil giant Petrobras.

Last week, the Brazilian media reported claims that Keppel FELS and a firm referred to as "Jurong" had paid bribes to Petrobras directors and PT, which stands for Partido dos Trabalhadores, and is also known as Brazil's Workers' Party.

When contacted yesterday, Keppel said: "We refute allegations made in the media reports on Keppel FELS' involvement in the scandal surrounding Petrobras." Keppel FELS is a wholly-owned subsidiary of Keppel Offshore & Marine.

"We would like to emphasise that Keppel Group has a code of conduct which prohibits, among others, bribery and corruption. Our employees are required to conduct themselves with integrity, in an ethical and proper manner, and in compliance with the applicable laws and regulations of the countries in which we operate, including anti-bribery laws," the conglomerate added.

Sembcorp Marine, whose shipyard in Brazil - Estaleiro Jurong Aracruz - had also been mentioned in the media reports, said: "Sembcorp Marine did not make any illegal payments and the group's policies and contracts prohibit bribery and unethical behaviour."

The bribery claims come from statements made by Pedro Barusco, a former executive at Petrobras's engineering and services division.

These statements have emerged as part of the latest development in Operation "Lava Jato" or Operation Car Wash - the investigation that the Brazilian authorities have been carrying out on money-laundering and corruption schemes involving the state-run oil company.

Last week, the CEO of Petrobras and five of the company's senior executives were forced to resign, as it emerged that the group had lost up to US$33 billion in 2014 because of corruption and inefficiency.

In its response to a query by The Business Times, Keppel noted that Zwi Skornicki - an individual mentioned in reports as representing Keppel in discussions about the alleged payments - is an employee of Eagle do Brasil, which is the agent of Keppel FELS in Brazil.

"Keppel FELS had conducted due diligence review of Eagle do Brasil and Zwi Skornicki. Further, the agency agreement with Eagle do Brasil categorically states that Eagle do Brasil and Zwi Skornicki "shall not make, either directly or indirectly, any improper payment of money or anything of value to an Official in connection with the contract,'" Keppel said.

"In addition, Eagle do Brasil's services are not exclusive to Keppel FELS, and it is also an agent to other reputable multinational companies."

Keppel also clarified that it makes "various contributions in Brazil, which include social welfare programmes, community activities and political donations".

"All of our various contributions are made according to and within local laws and regulations, which are documented in the respective companies' records and audits," it said.
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