The Temperament of a True Investor!

Just For Thinking ....

After reading this book, must be well borrowed book at Cheng San NLB as it is full of dirt and stain when Uncle88888 borrowed it!

The Temperament of a True Investor

Well, if you want to be somewhat a little bit like this man who is so loaded with money from stocks, you may have to develop yourself to build up the following characteristics:

1.True Investors are Calm

 

Buffett is blunt: Unless you can watch your stock holding decline by 50 percent without becoming panic stricken, you should not be in the stock market. In fact, he adds as long as you feel good about the business you own, you should welcome lower prices as a way to profitably increase your holdings.

True investors also remain calm in the face of what we might call the mob influence. When one stock or industry or one mutual fund suddenly lands in the spotlight, the mob rushes in that direction.

 

The trouble is, when everyone is making the same choices because "everyone" knows its the thing to do, then no one is in a position to profit.

 

True investors don't worry about missing the party; they worry about coming to the party unprepared.


2.True Investors are Patient

Rather than being swept along in the enthusiasm of the crowd, true investors wait for the right opportunity. They say no more often than yes. Buffett learned that the ability to say no is a tremendous advantage for an investor.


3.True Investors are Rational

They approach the market, and the world, from a base of clear thinking. They are neither unduly pessimistic nor irrationally optimistic; they are, instead, logical & rational.Buffett finds it odd that so many people feel optimistic when market prices are rising, pessimistic when prices are going down. Sell at lower prices & buy at higher prices - not the most profitable strategy.

True investors are pleased when the rest of the world turns pessimistic, because they see it for what it really is: a perfect time to buy good companies at bargain prices.

Buffett says "Pessimism is the most common cause of low prices. We want to do business in such an environment, not because we like the pessimism but because we like the prices it produces. It's optimism that is the enemy of the rational buyer We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful."

 

 

Becoming long-term retail investors???

Just For Thinking ....

Be honest with yourself!


Are you doing more of ...



Right and Hold

or

Wrong and Hold


Both methods are commonly used as long-term investing strategy if you are long only retail investors.

You're Doing It Wrong: 4 Mistakes That Make Everyone a Bad Investor

By Morgan Housel

 

"How can I become a great investor?"

That's probably the most common question we get from Motley Fool readers. 
But for most investors, especially beginners, it's the wrong question to ask. Most investors underperform the market. When that's the case, how to become a great investor isn't what's important; becoming a less-bad investor should be the goal. The difference is subtle, but important. Economist Erik Falkenstein explains:

In expert tennis, 80% of the points are won, while in amateur tennis, 80% are lost. The same is true for wrestling, chess, and investing: Beginners should focus on avoiding mistakes, experts on making great moves.

Accepting this should change the way new investors think about investing, from trying to find the next big winner to trying to avoid the next big blunder.
Here are four big blunders investors commonly make.

1. You lack diversification

There's a scene in the documentary "Enron: The Smartest Guy in the Room" where Enron's HR director is asked by an employee in a 1999 meeting, "Should we invest all of our 401(k) in Enron stock?"

The HR executive laughs and blurts out, "Absolutely!"

Enron stock made up more than half of Enron employees' 401(K)s when the company went bankrupt a year later, according to FINRA.

Warren Buffett once said, "Diversification is protection against ignorance. It makes little sense if you know what you are doing." But most investors don't know what they're doing, and Buffett's own Berkshire Hathaway (NYSE: BRK-B  ) controls 55 separate subsidiaries in industries ranging from underpants to private jets, newspapers to industrial chemicals.

William Goetzmann of Yale and Alok Kumar of the University of Texas analyzed the portfolios of 60,000 investors over a six-year period and concluded: "The least diversified (lowest decile) group of investors earns 2.40% lower return annually than the most diversified group (highest decile) of investors on a risk-adjusted basis."

From Enron to General Motors to Kodak and Lehman Brothers, the number of companies that have gone from revered blue chips to bankrupt casualties is longer than you might think. And every stock and every asset class will eventually experience a drawn-out period of dismal underperformance. History knows no exception to this rule, but it knows many investors who learned it the hard way.

2. You trade too much

The decline of trading costs is one of the worst things to happen to investors, as it made frequent trading possible. High transaction costs used to cause people to think hard before they acted.
Terrance Odean and Brad Barber of U.C. Berkeley studied tens of thousands of individual investors and came to an important and pith conclusion: "Trading is Hazardous to Your Wealth."

Investors who traded the most underperformed the S&P 500 (SNPINDEX: ^GSPC  ) by more than six percentage points per year, the pair found. That's a staggering amount. Over time, it's the difference between a good retirement and no retirement.

Inexperienced investors tend to overestimate their skill, convincing themselves they can beat the market by actively trading when, in fact, they stand little chance. "Overconfidence can explain high trading levels and the resulting poor performance of individual investors," Odean and Barber wrote.

There's some good news. Last year, three economists published a paper showing that investors tend to earn better returns as their experience increases, and a characteristic of experienced investors is lower portfolio turnover. Experienced investors learn from their mistakes. If you're new to the game, try to learn from them vicariously.

3. You plan for the long run and react to the short run

Most investors have a plan, whether it's subconscious or explicit: They're trying to have more money to finance some event down the road, like retirement or school for their kids. That "event" is usually years or even decades away.

But while we plan for the long run, most investors react to the short run.

Retiring in 10 years? You lose sleep when the market has a bad month.

Kids going to college in 15 years? Stocks have a bad day, and you question how you've invested their college funds.

It's natural to do this. I do it, too. But while long-term financial plans have the benefit of compound growth, short-term reactions have the curse of emotions and randomness. Very few decisions investors make based on reactions to short-term market moves will help them achieve their long-term goals. The investor who ignores the noise and becomes blissfully unaware of what the market did last week may have a big advantage over the professional who watches every tick.

4. You ask the wrong questions

The investment media provides answers. Here's what stocks you should buy. Here's when you should sell. Here's what this news means for you. Do this. Do that.

But even when these answers come from smart people (they often don't), they can be addressing the wrong questions.

Instead of asking what stocks you should by, many investors should ask whether they should be picking stocks in the first place (passive index funds are a great alternative).

Instead of asking what the market did today, many investors should ask whether it matters at all if they're in it for the long run.

Instead of asking how much potential an investment has to increase, many investors should ask whether they can afford to take additional risks.

Financial advisor Carl Richards has a smart three-step plan investors should ask themselves before making big decisions:

• If I make this change and I am right, what impact will it have on my life?
• What impact will it have if I'm wrong?
• Have I been wrong before?

(Uncle8888: This is why Uncle8888 has been nagging you to diligently track and measure your investing performance to know have you been wrong before and equally important where did you miss out during those short moments in the market cycles of doing it RIGHT!)


The media can't answer these questions because it doesn't know details about you. But they are some of the most important questions investors can ask.

 

Lian Beng : A new multi-year 52WH

KrisEnergy launches $213m IPO

Singapore-based independent KrisEnergy has launched an initial public offering of its shares aiming to raise S$270 million ($213.6 million) funding for capital expenditure and potential acquisitions.

Around 151.9 million shares are being offered to international and Singapore subscribers at S$1.10 per share.

In addition, around 94.1 million new shares have been offered to KrisEnergy’s six cornerstone investors, including Keppel Corporation subsidiary Devan International and Palang Sophon Offshore.

The offer runs from 1300 GMT on 12 July to 0400 GMT on 17 July, with the shares expected to begin trading on the SGX on 19 July.

KrisEnergy chief executive Keith Cameron said the IPO’s injection of new capital “will allow us to continue pursuing our focused strategy of discovering hidden value in significant assets to bring oil & gas to market”.

Established in 2009, the South-East Asia-focused explorer holds production assets in Indonesia and Thailand that yielded 2497 net barrels of oil equivalent per day in the first quarter.

It holds 14 exploration and production assets in all in Thailand, Indonesia, Cambodia and Vietnam, along with a pending acquisition of Tullow Oil’s 30% stake in Niko Resources-led Block 9 in Bangladesh.

KrisEnergy's certified proven plus probable working interest reserves ran to 17.16 million boe at the end of 2012.

New offshore wind turbines begin turning, but cash scarce

[BRUSSELS] Around twice as many offshore wind turbines were added to the power grid in Europe in the first half of 2013 compared with a year ago, but financing for new projects has slowed, industry body the European Wind Energy Association said on Friday.

Offshore wind power is still in its infancy and its financing is a political issue as cash-strapped governments balk at the subsidies the industry says are necessary until economies of scale and streamlined processes can make it more competitive.

In the first half of this year, 277 new offshore wind turbines, totalling 1,045 megawatts were fully connected to the power grid, compared with 523.2 megawatts in the same period last year, EWEA said in a report published on Friday.

Germany's Siemens was responsible for the vast majority of this year's new connections, it added.


CW8888's comment:

Probably, explain why there is no new project from this sector.


Read? Keppel to expand suite of solutions for Offshore Wind Farm Installations

Breaking Records: Dow and S&P 500 End at All-Time Highs, Nasdaq Logs Best Close Since 2000

By: JeeYeon Park | CNBC.com Writer

                

Stocks roared higher to finish near their best levels Thursday, with the Dow and S&P 500 closing at record highs, boosted by dovish comments from Fed Chairman Ben Bernanke.

The Dow Jones Industrial Average shot up 169.26 points, or 1.11 percent, to close at a new all-time high of 15460.92. All 30 Dow components finished higher, led by Intel and Microsoft.

The blue-chip index's point gain for 2013 is already greater than any year on record.

The S&P 500 soared 22.40 points, or 1.36 percent, to finish at 1,675.02, logging its sixth-consecutive rally and also setting a new closing high. The index is now on pace for its biggest weekly gain since January.

The Nasdaq jumped 57.55 points, or 1.63 percent, to end at 3,578.30, posting its best close since 2000. And the Russell 2000 index hit a new all-time high for the fourth-straight session.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, slid near 14.

 

3,248.92 Up 60.88(1.91%)

Singapore shares ended higher on Thursday with the Straits Times Index gaining 60.88 points to 3,248.92.

Some 2.05 billion shares, valued at S$1.53 billion were traded. Gainers outnumbered losers 352 to 106.

China's rig-builders gatecrash big league

By

Lynn Kan

         

Last year, Singapore's Keppel Offshore & Marine and Sembcorp Marine were the world leaders, bagging a record US$13.8 billion in offshore rigbuilding contracts. - PHOTO: KEPPEL

[SINGAPORE] Despite being relative newcomers to offshore rigs, China-based shipbuilding yards have held on to their lead in rig orders in 2013. This has led analysts like Vincent Fernando from Religare Capital Markets to think of 2013 as the "tipping point" for China's rigbuilding industry.
Rigzone data shows China has collected US$5.06 billion in orders for jack-ups, semisubmersibles and tender rigs in the year to date - ahead of US$4.37 billion in the bag for the Singapore powerhouses.

Last year, Singapore's Keppel Offshore & Marine and Sembcorp Marine were the world leaders, bagging a record US$13.8 billion in offshore rigbuilding contracts.

Mr Fernando thinks that the Chinese yards may break through the stigma of delays and quality issues associated with rigs built by newcomers. They also enjoy the support of their government and of multinationals.

Rotary wins petrochem jobs worth $60m in Q2

By

ronnie lim

        

ROTARY Engineering has clinched $60 million worth of jobs from petrochemical players in Singapore in the second quarter, bringing its total in the first half of this year to over $400 million.

The listed specialist contractor, which provides engineering, procurement, construction (EPC) and maintenance services, said the largest contract clinched in the April-June period was worth nearly $30 million. This was from an international specialty chemicals company to provide electrical and instrumentation works for an entire plant in Jurong Island.

The other large contract worth $17 million came from a repeat oil major, and involves the provision of piping and structural works in a new processing unit in Jurong Island producing high purity chemicals.

While Rotary Engineering did not name its clients, the second contract obviously came from Shell which in April this year flashed the greenlight for two new worldscale projects here - said to run into billions of dollars - including one for making high-purity ethylene oxide.

Lian Beng: Wrong and hold for 5.5 yrs!

Wrong and hold for 5.5 yrs.

Pain in the ass has been eased today!

Is in money.

Stocks Post 3-Day Win Streak Ahead of Earnings Season

The Dow Jones Industrial Average jumped 88.85 points, to finish at 15,224.69, led by Wal-Mart and UnitedHealth. The blue-chip index was within 200 points from reaching its record close of 15,409.39.

The S&P 500 climbed 8.57 points, to end at 1,640.46. And the Nasdaq eked out a gain of 5.45 points, to close at 3,484.83. The Russell 2000 finished at a fresh all-time high after closing above 1,000 for the first time last Friday.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended below 15.

Boasting your great saving skills through many personal sacrifices!

Just For Laugh ....


Uncle8888 has been reading some interesting comments on boasting great saving skills through many personal sacrifices to build up wealth.

We respect those people who make many personal sacrifices for their loved ones. We understand that human's love can go beyond boundary and limits.

But, to make so many personal sacrifice just to accumulate tons of money is no love story.

We always like to believe that there is tomorrow; but when tomorrow never come; someone else will be happily spending our money.

Lots of personal sacrifices have been made for these money. But, are these money left behind for whom you deeply love?

Hit your target net worth early?

Just For Thinking ...

Hit your target net worth early

invest, July 7, 2013, thesundaytimes




Uncle8888 believes many people know what is ESBI

but, how many people out there really understand that ESBI may be that critical linkage to your Wealth Formula to hit your target net worth early.


Who are those people who may reach financial independence or freedom in their 30s, 40s or 50s?

Book: The Art of Ageing: Inspiration for a Positive and Abundant Later Life

Uncle8888 read this book.


No young man believes he shall ever die, observed William Hazlitt. Yet ageing remains a natural part of life, and it is precisely the impermanence of life that renders it so precious. Knowing that it is brief requires us to appreciate each moment of beauty and waste no opportunity for learning and love.

The Art of Ageing has been written to help us achieve these ends. Some people may experience bad health, unhappiness and grief, but for many their later years can be amongst the happiest they have known - years that provide unequalled opportunities for creative growth enriched by mature relationships with children, grandchildren, spouse or partner and beloved friends.

The shallowness of inexperience can be replaced by a depth of understanding and complexity of being; and restless speed with the serenity of untroubled leisure. Now there is time for experiment and creativity, time for exploring our different potentials, time to live in accordance with our dreams, time to be ourselves.

The Art of Ageing gives advice on how to make the most of ageing, how we can celebrate its positive gifts and includes the stories of a variety of people who have enjoyed creative and productive lives well into their eighties and nineties.

Reaching the Edge of Financial Independence. Next, watch your Beta closely!

Read? Mara River : Reaching the Edge of Financial Independence!!!


Last Sunday, Goh Eng Yeow wrote ......


"To be financially independent is to be able to maintain your desired standard of living, without ever facing the risk of running out of money."


"Trusting the vagaries of the stock market to try to achieve that goal is really too much like a roll of dice."



These words strikes Uncle8888!

In another word, after reaching the Edge of Financial Independence, we should be watching our Financial Independence Beta closely in the wake of vagaries and volatility of the stock market.

We shouldn't be rolling the dice too often.

 

Stocks Surge 1% on Strong Jobs Report; Dow Reclaims 15,000 Level

By: Justin Menza

 

Stocks jumped in a choppy trading session Friday, extending gains heading into the close, after a strong jobs report indicating an improving U.S. economy offset worries about a sooner-than-expected end to Federal Reserve bond buying.

The Dow Jones Industrial Average climbed back above the 15,000 level, propelled by gains in American Express and JPMorgan
.

The S&P 500 and the Nasdaq were also strongly higher. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 15. 
 
The S&P 500 finished above its 50-day moving average of 1626. "All week this trendline has held back the bulls," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research.

"Still, the more important area could be the Russell 2000 Index 1,000 region. This area has held as resistance since May and won't go down without a fight."

With those areas breached on Friday, Detrick said "it could signal we could have a strong July rally."

How do you grade your investment skills? (2)

Read? How do you grade your investment skills?


Read? Temasek Holdings portfolio value up 8.6% to S$215b



What is Temasek's TSR or Total Shareholder Return?


TSR calculations exclude capital injections put in by Temasek's shareholder and include dividends that its shareholder receives.


Uncle8888 vs. Temasek

















Temasek's TSR

10-year: 13%
20-year: 14%

Uncle8888's TSR

13-year: 11%

Not too bad.

One-Third of China Shipyards Face Closure as Vessel Orders Slump

China, the world’s biggest shipbuilding nation, may see a third of its yards shut down in about five years as they struggle to win orders amid a global vessel glut, an industry group said.

The yards in peril of closure have failed to get any orders “for a very long period of time,” Wang Jinlian, secretary general of the China Association of National Shipbuilding Industry, said in an interview yesterday. They may end operations in three to five years if the “gloomy market persists.” The nation has more than 1,600 shipyards.

Chinese shipbuilders may face labor unrest after cutting jobs and diversifying into offshore equipment to offset the order slump while contending with the nation’s worst credit crunch in at least a decade. China Rongsheng Heavy Industries Group Holdings Ltd. (1101), the nation’s biggest yard outside state control, fell the most in almost a year in Hong Kong trading on July 3 after saying some idled contract workers surrounded the entrance of its main factory.

“Because of the overall market, there’s no way out for the companies; so only the strongest will survive,” said Sarah Wang, a Shanghai-based analyst at Masterlink Securities Corp. (2856) “Life for China’s shipyards will be tougher this year as any form of credit crunch is critical.”

The order book at China’s shipbuilders fell 23 percent at the end of May from a year earlier, according to data from the shipbuilders’ group. Yards have reduced down-payment requirements, with some slashing their rates to as little as 2.5 percent of contract value compared with 20 percent before 2010, according to UOB-Kay Hian Holdings Ltd. (UOBK)

Tight Liquidity

The nation’s clampdown on excessive short-term borrowing sent the overnight repurchase rate to a record 13.91 percent last month, forcing at least 22 companies including China Development Bank Corp., a backer of the shipping industry, to cancel or delay bond sales. Economic growth in China has held below 8 percent for the past four quarters, the first time that has happened in at least 20 years.

“Currently financial institutions themselves may have tight liquidity, so they are reluctant to lend money to companies in this sector,” China Association’s Wang said. “If they can help some good companies, there would be no problems.”

Share trading in Rongsheng was halted yesterday after the Wall Street Journal reported the company recently pared about 8,000 jobs. More than half of the employees laid off were subcontractors and the rest full-time workers, the Journal reported July 3, citing Lei Dong, secretary to the Shanghai-based company’s president.

‘Bad Market’

Rongsheng spokesman William Li declined to comment on the Journal report. Four calls to Lei’s office at Rongsheng went unanswered. Rongsheng Chairman Chen Qiang also declined to comment yesterday.

“Rongsheng’s move reflects the bad market,” said Lawrence Li, an analyst at UOB-Kay Hian in Shanghai. “More small-to-medium sized shipyards, especially those that lack government support, may take the same actions or even close down.”

Rongsheng had as many as 38,000 workers including its own employees and contract staff at the peak of the industry boom a few years ago, UOB-Kay Hian’s Li said. Brazil and Greece accounted for more than half of Rongsheng’s 2012 revenue, according to data compiled by Bloomberg.

The company posted a loss of 572.6 million yuan ($93 million) last year, after three consecutive years of profits, according to data compiled by Bloomberg. It had short-term debt of 19.3 billion yuan as of the end of 2012, the data show.

New Orders

The shipbuilder targets new ship and offshore orders worth more than $2.3 billion this year, Chen said in Hong Kong in March. The company pared about 3,000 employees last year as it aims to return to profit this year, he said at the time.

Rongsheng’s cash conversion cycle, a gauge of days required to convert resources into cash, more than doubled to 582 last year from 224 in 2011, the data show. Its shares have fallen 15 percent this year in Hong Kong, compared with a 9.7 percent decline for the benchmark Hang Seng Index.

Ten of the 14 analysts tracked by Bloomberg recommend selling Rongsheng stock with the rest rating it hold. The company raised HK$14 billion ($1.8 billion) in its initial public offering in 2010.

Ship prices for a vessel that can carry as many as 13,500 boxes fell to $106 million in April, which was then the lowest since Clarkson Plc (CKN) started compiling the figures in June 2008. Contracts for new vessels halved to $84.7 billion in 2012, compared with $174.7 billion in 2008, according to Clarkson.

Korean Yards

About 464 shipyards in China won 18.7 million deadweight tons of orders worth $14.3 billion last year, the lowest since 2004, according to Clarkson. That compares with contracts for 14.6 million tons worth $29.6 billion received by 88 yards in South Korea, the world’s second-biggest shipbuilding nation.

China had 1,647 shipyards with annual sales of more than 5 million yuan at the end of December, according to the China Association. The sector contributed an industrial output of 790.3 billion yuan last year.

Shipbuilders are trying to offset the plunge in new vessel prices and orders by expanding their oil-rig business. Rongsheng announced in October its first order to make a tender barge while rival Yangzijiang Shipbuilding Holdings Ltd. (YZJ) got its first rig contract in December.

How do you grade your investment skills?

Someone asked: "Uncle8888, how do you grade your investment skills?"

should be Masters Degree in Stock Market with

 

 

 

 

 

 

 

 

 

Read? Hey! Are you good at stocks? (2)

 

 

The award is based on Uncle8888's past 12 years of achievement in the stock market producing high yield and high gains.

 

His Best Score for Top Three Core Modules at Thursday market closing price:

 

 

1. Kep Corp

 

Total yield on investment cost: 352% over 11.8 years or 29.8% p.a.

Unrealised gains: 695% 

Total Return: 1,047%

 

 

 

 

2. Semb Corp

Total yield on investment cost: 273% over 10.5 years or 25.9% p.a.

Unrealised gains: 584%

Total Return: 856%

 

3. DBS

Total yield on investment cost: 91.9% over 10.2 years or 9% p.a.

Unrealised gains: 109%

Total Return: 201%

 

 

 

 

 

 

Temasek Holdings portfolio value up 8.6% to S$215b

SINGAPORE: Temasek Holdings on Thursday reported that the value of its investment portfolio rose to a new record in the last fiscal year as shareholder returns also climbed.

The Singapore investment firm said its portfolio, consisting largely of Singapore and Asian equities, increased 8.6 per cent to S$215 billion in the year to March 31, 2013, from S$198 billion a year earlier.

Group net profit was down 0.9 per cent at S$10.6 billion from S$10.7 billion in FY 2011/12.
Temasek said in its annual review that a higher contribution from portfolio returns offset lower contributions from its portfolio companies.

Total shareholder return (TSR), which is Temasek's key measure of performance, was 8.86 per cent for the past year, up from 1.5 per cent in the previous 12 months.

Their three-year TSR was 4.94 per cent. Longer term TSRs for 10, 20 and 30 years were 13 per cent, 14 per cent and 15 per cent respectively. The TSR since inception was 16 per cent.

 

- CNA/ac

Keppel takes stake in Vietnamese driller

Joining together: Keppel has taken a 35% stake in a Vietnamese company

ROSLAN RAHMAN

 04 July 2013 01:43 GMT

Singapore's Keppel Corporation has acquired a 35% equity stake in the Vietnamese company that has just ordered a US$210 million newbuild jack-up drilling rig from Keppel.

 

 

 

 

Keppel FELS secures order for jackup rig worth about US$210 million

Keppel FELS Limited (Keppel FELS) is pleased to announce that PV Drilling Overseas (PVDO) is acquiring from the company a KFELS B Class jackup rig for approximately US$210 million.

Scheduled for delivery in 1Q 2015, the high specification rig will be the 19^th KFELS B Class rig on order at Keppel, with 45 already delivered since 2000.

Mr Pham Tien Dung, Chairman of PVDO and CEO of PV Drilling said, "We are looking to catch up on the huge demand for offshore rigs and actively seize the opportunities coming. To meet this aim, we are pleased to be able to acquire a premium jackup rig with such an early delivery schedule. This is an important addition to our current fleet of rigs to expand our fleet through acquisitions and charters to accelerate our drilling programme for Vietnam and the overseas market."

The KFELS B Class jackup design was developed by Keppel's technology arm, Offshore Technology Development. It is able to operate in water depths of 400 feet, drilling depth of 30,000 feet and accommodate up to 150 men.

Mr Wong Kok Seng, Managing Director (Offshore) of Keppel O&M and Managing Director of Keppel FELS said, "We are pleased to provide PVDO with a KFELS B Class jackup rig to suit their schedule. Even though we have a number of deliveries slated for 2015, our construction programme allows us the flexibility to meet our customer's requirements.

"Having just delivered our 45^th KFELS B Class rig, and with another 19 on order, this proven design has been the rig of choice for the offshore drilling industry. We look forward to providing PVDO with a high quality rig on time, on budget and in a safe manner."

Readily upgradeable to higher performance capabilities, KFELS B Class rigs incorporate Keppel's advanced and fully-automated high capacity rack and pinion elevating system, and self-positioning fixation system. It provides maximum uptime with reduced emissions and discharges. For its environmental-friendly features, the KFELS B Class design was bestowed the Prestigious Engineering Achievement Award from Institution of Engineers Singapore in 2009.

The new contract is not expected to have material impact on the net tangible assets or earnings per share of Keppel Corporation Limited for the current financial year.



Uncle8888's estimated Kep Corp Order Book

Pimco Total Return Fund posts record outflows of US$9.6b

[NEW YORK] Pimco Total Return, the world's largest bond fund, suffered record large outflows in June, in a second straight month of withdrawals amid carnage in the bond market that have reduced the fund's assets by 8.5 per cent, data from Morningstar showed on Tuesday.

In June, investors pulled US$9.6 billion from the fund, which is managed by Bill Gross and is the flagship fund of Pacific Investment Management Co It was the fund's largest single month of outflows since Morningstar records began in 1993, the investment research firm said.

In May, investors pulled US$1.3 billion from the fund in May, which marked the first outflows since December 2011.

The fund's assets now stand at roughly US$268 billion, down from a peak of US$292.9 billion in April, Morningstar said. The fund's assets are at their lowest since June 2012, when they stood at US$263.4 billion, Morningstar said.

CW8888: Money flowing to where now?

KrisEnergy gears up for listing

Oil and gas exploration firm planning offer at up to $1.10 per share

 

By ronnie lim

                         

         

OIL and gas exploration and production company KrisEnergy (KE), established by the founders of former-listed Pearl Energy, is all set for a listing on the Singapore Exchange.

In a preliminary prospectus lodged with the Monetary Authority of Singapore yesterday, KE said it is making a share offer of up to 152.8 million shares with an indicative price of up to $1.10 per share.

This includes an international placement of up to 137.5 million shares to institutional and other investors in Singapore and a public offer of up to 15.28 million shares here.

KE said the offer shares may be reallocated between the international offer and the Singapore public offer at the discretion of the joint issue managers, global coordinators, bookrunners and underwriters.

CapitaLand bolsters self storage business

By ong chor hao

 

                         

        

PROPERTY giant CapitaLand can now lay claim to owning Singapore's largest self storage company, following a move to acquire the business behind four self storage facilities here.

In a regulatory filing yesterday, CapitaLand said it bought all of BSG Holdings through its wholly owned subsidiary StorHub Singapore Investment, from Invista Real Estate International Holdings.

It also acquired the Big Orange Self Storage Singapore business through another wholly owned subsidiary StorHub Management, which gives it control of the Big Orange brand that runs four self storage facilities in Singapore. The four properties were ultimately owned by BSG Holdings.

The consideration for the acquisition was $91.8 million, on a pro forma basis of consolidated closing accounts as at yesterday. The accounts will be audited and incorporate the adjustments to net assets of BSG Holdings as at the completion date of the deal yesterday. Any difference to the $91.8 million will be paid for or refunded by StorHub Singapore Investment or Invista accordingly.

Retire by 35 by investing for passive income??? Fact or Fiction? (3)

Just For Thinking ....


Borrow the idea from La Papillion

** "BIAS" is a special feature in my blog where I get to say whatever I want with scant regards for your feelings. I'm not politically correct in this feature, so go ahead, judge me."

Uncle8888 is going to do another BIAS post!



Read? Retire by 35 by investing for passive income??? Fact or Fiction? (2)


Boasting Your Passive Income!


When you are still working and living off your earned income, it is so easy to go around boasting your passive income in the Cyber world and becoming an instant role model.


But, the truth is .....


When you retire to survive on passive income, do you know withdrawing money isn’t the same as compounding your investment?


How often do we hear retirees going around boasting their passive income?

What was I thinking and feeling in Mar 2009 Bear market low? (4) - Re-posting

Now, I realised that in a rising stock market, sometime the element of luck may play a bigger role, but; over long term in the market, investors will have to depend more than just luck to achieve long term average return.

Read? What was I thinking and feeling in Mar 2009 Bear market low? (4)



Read? Luck and Skill???

Uncle8888 doesn't know to fish?

Just For Thinking ....

Someone said: "if you sold at 2007, you will still buy back after it drops at 2008/2009 and you will buy back more, collect your dividends again, and you could still sell again now!"







 








Read? After surviving Round 94 over 12 years of market cycles of Bull and Bear


Who else can Uncle8888 approach to learn how to fish?

Everybody can opine. Fewer can act!

Sembcorp Invests in Technology Solutions Firm and Enhances Its Technological Capabilities

- Enters into a strategic partnership which gives Sembcorp preferential and early access to proprietary technologies

SINGAPORE, July 1, 2013 - Sembcorp Industries (Sembcorp) announces that its wholly-owned subsidiary, Sembcorp Utilities, has signed an agreement to invest NOK30 million (approximately S$6.4 million) in Biowater Technology (Biowater), a Norwegian-based company that designs and engineers innovative technologies and solutions for the treatment of municipal and industrial wastewater. Upon completion of the transaction, Sembcorp will own 28.8% of Biowater, with the remaining stake held by existing shareholders Incitia Ventures II, Mallin Venture and Biowater’s founders and employees.

Existing investors in Biowater, Incitia Ventures II and Mallin Venture, will concurrently be investing a further NOK8 million, resulting in a total of NOK38 million of new capital raised for Biowater to fund its continued research and development (R&D) work and commercialisation efforts.

In addition to the equity investment, Sembcorp will also enter into a Strategic Partnership Agreement with Biowater, which will give Sembcorp preferential and early access to its technologies and at the same time, provide Biowater access to Sembcorp’s global facilities to accelerate the development and commercialisation of its technologies.

Biowater is recognised as an innovative industry leader in biological wastewater treatment and has developed its own proprietary technologies, such as the Complete Mix Fixed Film (CMFF®) and Combined Fixed Film Activated Sludge (CFAS®), which are commercially available in the market. The company also continues to innovate and develop new patented technologies, namely the Continuous Flow Intermittent Cleaning (CFIC®) and the Hybrid Vertical Anaerobic Biofilm Bioreactor (HyVAB®). The use of CFIC® in wastewater treatment can bring about substantial reduction in energy consumption of up to 20% to 30%, as well as savings in capital expenditure of up to 25%, compared to conventional Moving Bed Biofilm Reactor (MBBR) technology. Pilot tests have been completed for CFIC® and the technology is currently in its commercialisation phase. Meanwhile, HyVAB® has the potential to be a game-changer in the industrial wastewater treatment industry and can result in even greater cost savings from power efficiencies and lower sludge production. HyVAB® is currently under development at the pilot phase with commercial application expected in 2015.

For Sembcorp, these technologies could be harnessed to improve the efficiency and performance of existing plants. With over seven million cubic metres per day of water in operation and under development worldwide, of which almost 340,000 cubic metres per day come from wastewater treatment, the application of CFIC® could bring significant cost savings for Sembcorp and enhance our competitiveness. The use of such advanced and innovative technologies can also give us a substantial competitive edge when bidding for new projects and has the potential to help Sembcorp grow our industrial wastewater treatment business, particularly in Asia.

As part of the strategic partnership, Sembcorp will apply CFIC® on a full scale in some of its water plants worldwide, as reference projects to help accelerate the commercialisation of the technology. This collaboration hence gives Biowater the opportunity to apply its technologies in Sembcorp’s global portfolio of water and wastewater projects, as well as obtain feedback based on Sembcorp’s operational knowledge and experience to facilitate development and commercialisation of its technologies.

Commenting on the investment, Tang Kin Fei, Group President & CEO of Sembcorp, said, “This investment will strengthen our technological capabilities and cement our leading position in the treatment of multiple streams of complex industrial wastewater. As a company that is focused on innovation, process and technology, this partnership not only enables us to enhance the efficiency of our operations, but also allows us to continuously offer competitive solutions to our customers.

“We are excited about the opportunities that this partnership will bring to Sembcorp, given Biowater’s innovation and R&D capabilities. With our 33 water operations across 11 countries worldwide, we will also be able to help Biowater expedite the development and commercialisation of its technologies and accelerate our growth in the wastewater treatment business. With our complementary capabilities, we look forward to a successful and fruitful partnership with Biowater.”

Collaboration is also expected at Sembcorp’s new technology and innovation centre, which is targeted to start up by the end of this year. Located at the Banyan area of Jurong Island, Singapore’s petrochemicals and chemicals hub, the centre will enable Sembcorp to support the development of HyVAB®, and future new technologies, by running test-beds and pilot tests there. The new technology and innovation centre will comprise laboratories and applied R&D facilities, and house our researchers and engineers who will develop and integrate innovative processes and run test-beds for emerging technologies relevant to our Utilities business.

Audun Lødemel, CEO of Biowater, said, “We are very pleased to have Sembcorp as an investor as they are an important strategic partner going forward, especially with their expertise and insight for the Asian market. This enables us to address large emerging markets and continue to develop the company, including new solutions for our customers. Sembcorp presents valuable commercialisation opportunities for our technologies through their global facilities and market knowledge, and we look forward to working with them.”

The investment amount was arrived at based on negotiations with Biowater and its existing shareholders. Sembcorp will fund the investment through internal resources. The transaction is expected to be completed upon the injection of capital from Sembcorp by July 9, 2013.

This transaction is not expected to have a material impact on the earnings per share and net asset value per share of Sembcorp Industries for the current financial year.

Keppel to boost KrisEnergy stake to 36% for up to US$123m

By

Lee Meixian

         

 

Keppel Corporation intends to increase its stake in IPO aspirant, KrisEnergy Ltd, from 20 per cent to 36 per cent for up to US$122.7 million through the exercise of a call option. -- PHOTO: ST

Keppel Corporation intends to increase its stake in IPO aspirant, KrisEnergy Ltd, from 20 per cent to 36 per cent for up to US$122.7 million through the exercise of a call option.

It has also signed a cornerstone subscription agreement with KrisEnergy to subscribe for new shares in it for US$35 million. This will eventually give it an enlarged post-IPO shareholding of "marginally above 30 per cent", it said on Monday.

Keppel's unit, Devan International, first bought a one-fifth stake in KrisEnergy last July for US$115 million. The acquisition came with a call option for an additional 16 per cent stake which it is now exercising.

Keppel said in view of a potential IPO of KrisEnergy, Devan and the seller KrisEnergy Holdings have agreed to amend the exercise price of the call option to the IPO price, subject to the IPO occurring by August 15, 2013 and an earn-out mechanism in which Devan agrees to pay the seller the difference between the original exercise price and the IPO price.

Two More Jack-up Rig Orders for Sembcorp Marine's PPL Shipyard from Oro Negro

Singapore, July 1, 2013 : Sembcorp Marine’s PPL Shipyard has secured additional orders for two turnkey contracts worth a combined value of US$417 million from repeat customer Integradora de Servicios Petroleros Oro Negro, S.A.P.I. de C.V. (“Oro Negro”) for the construction of two units of jack-up rigs.

Scheduled for delivery at end July 2015 and end of third quarter 2015, these latest pair of high-specification and high-performance deep drilling offshore jack-up rigs will be built based on PPL Shipyard’s proprietary Pacific Class 400 design. Including the earlier contracts of two identical jack-up rigs placed in November 2012 and another two similar rig units in March 2013 respectively, the total number of Pacific Class 400 jack-up rigs ordered by Oro Negro now stands at six units.

Incorporating the latest drilling equipment for improved drilling efficiency, offline handling features and simultaneous operations support, these new rigs will be capable of operating in deeper waters of 400 feet and drilling high pressure and high temperature wells to depths of 30,000 feet. These rigs will be equipped with increased accommodation with full catering facilities and amenities for a complement of 150 people on board in one-man and two-men cabins.

Mr Gonzalo Gil, CEO of Oro Negro, said “We are very pleased to repeat our orders for an additional two jack-up rigs of similar design with our partner yard, PPL Shipyard. All four jack-up rigs currently under construction in the shipyard are progressing well. With these two additional orders, we look forward to taking delivery of the first unit in the fourth quarter of this year, 2 units in 2014 and 3 units in 2015. Once fully operational, these high-specification jack-up rigs will position Oro Negro as a leading player in Mexico’s growing offshore market.”

Mr Wong Teck Cheong, Managing Director of PPL Shipyard said “We are indeed heartened that Oro Negro has chosen our yard for an additional order of two more jack-up rigs of similar design within a short span of three months. This repeat order is a reflection of the optimism the owner has in the jack-up market. It also signifies the trust and confidence that the owner, Oro Negro, has in PPL Shipyard’s design capabilities, its efficient project execution and track record for quality and timely deliveries.”

The contracts are not expected to have any material impact on the consolidated net tangible assets and earnings per share of Sembcorp Marine for the year ending December 31, 2013.