K-Green Trust: 1Q FY2013 RESULTS HIGHLIGHTS

1. Group revenue for the first quarter ended 31 March 2013 was $17.0 million. Excluding construction revenue arising from the flue gas treatment upgrade following its completion, revenue for 1Q 2013 improved by $0.5 million, representing a 3.0% increase compared to 1Q 2012.

2. The profit after tax achieved for 1Q 2013 was $3.2 million, contributing to earnings per unit (EPU) for the quarter of 0.51 cents.

3. Net asset value per unit as at 31 March 2013 was $1.01.

4. Cash generated from operations was $10.0 million for the quarter.

Keppel REIT's Net Property Income Increased 20.7% Year-on-year

• Net Property Income ("NPI") increased 20.7% year-on-year ("y-o-y") to $34.4 million primarily due to improved performance from Ocean Financial Centre ("OFC") and 77 King Street.
• Property Income registered an improvement of 13.2% y-o-y to $41.4 million.
• Share of Results of Associates increased 26.4% y-o-y to $14.2 million due to higher contribution from Marina Bay Financial Centre Phase 1 ("MBFC Phase1").
• Distributable income for 1Q 2013 was $52.2 million, an increase 7.6% y-o-y.
• Annualised 1Q 2013 Distribution Per Unit ("DPU") rose by 4.6% y-o-y to 7.99 cents.
• All refinancing for 2013 is completed, and weighted average term to expiry has been extended from
  3.1 years to 3.2 years.
• Completed the acquisition of the new office building to be built on the Old Treasury Building site
  in Perth, Western Australia.
• Overall committed portfolio occupancy increased to approximately 99%.
• Four out of seven completed properties are 100% occupied.

Keppel O&M wins US$226m jack-up order

By

Lynn Kan

         

 

KEPPEL Offshore and Marine bumped up its order book to US$1.8 billion (S$2.23 billion) to-date, with a fresh jack-up rig win - PHOTO: KEPPEL

KEPPEL Offshore and Marine bumped up its order book to US$1.8 billion (S$2.23 billion) to-date, with a fresh jack-up rig win.

Subsidiary of Singapore-listed Falcon Energy Group awarded Keppel Fels an order for a US$226 million KFELS B Class jack-up.

Keppel Corporation fell three cents on April 15 to end at $11.39.

CW8888's estimated Order Book

Keppel Reit's Sydney property over 56% pre-committed

By

Lee Meixian

         

                  

Keppel Reit on Monday said the total pre-commitment at its jointly-owned property with Mirvac Group in Sydney, 8 Chifley Square, is more than 56 per cent, after it signed on a new tenant, QBE Insurance Group.

Under the 10-year lease agreement, QBE will occupy about 30,000 square feet of prime office space on the top four levels of 8 Chifley Square, alongside law firm, Corrs Chambers Westgarth, Keppel Reit said.

8 Chifley Square is a 34-storey office building in Sydney's central business district, comprising about 206,000 square feet of netlettable area.

How Warren Buffett Really Got Rich in Stocks?

Read? This Buffett Technique Will Increase Your Dividends (2)

Posted by Porter Stansberry

Most people think Warren Buffett became the richest investor in history – and one of the richest men in the world – because he bought the right “cheap” stocks.

Legions of professional investors tell their clients they’re “Dodd and Graham value investors… just like Warren Buffett.”

The truth of the matter is entirely different. And if you want to prosper during the inflationary crisis I see coming, it’s critical you understand that difference…


Until 1969, Buffett was a value investor, in the style of David Dodd and Benjamin Graham. That is, he bought stocks whose stock market capitalization was a fraction of their net assets. Buffett figured buying $1 bills for a quarter wasn’t a bad business. And it’s not.

But it’s not nearly as great of a business as investing in safe stocks that can compound their earnings for decades. Take shares of Coca-Cola, for example – they’re the best example of Buffett’s approach.

Buffett bought his Coke stake between 1987 and 1989. It was a huge investment for him at the time, taking up about 60% of his portfolio.

Later, other investors would bid up the shares to stupid levels. Coke was trading for more than 50 times earnings by 1998, for example. But Buffett never sold. It didn’t matter to him how overvalued the shares were, as long as the company kept raising the dividend. In 2011, Coke paid out $1.88 in dividends per share. Adjusted for splits and dividends already paid, Buffett paid $3.75 per share for his stock in 1988.

Thus, Coke’s annual dividend, 24 years later, now equals 50% of his total purchase price. Each year, he’s earning 50% of that investment – whether the stock goes up or down.

How could Buffett have known Coke would be a safe stock… and that it would turn into a great investment? Well, like Einstein said famously about God, Buffett doesn’t roll dice. He only buys “sure things.”

In his 1993 shareholder letter, Buffett wrote about his Coke investment and his approach – buying stable companies with the intention of holding them forever so their compounding returns would make a fortune.

At Berkshire, we have no view of the future that dictates what businesses or industries we will enter. Indeed, we think it’s usually poison for a corporate giant’s shareholders if it embarks upon new ventures pursuant to some grand vision. We prefer instead to focus on the economic characteristics of businesses that we wish to own…

Is it really so difficult to conclude that Coca-Cola and Gillette possess far less business risk over the long term than, say, any computer company or retailer? Worldwide, Coke sells about 44% of all soft drinks, and Gillette has more than a 60% share (in value) of the blade market.

Leaving aside chewing gum, in which Wrigley is dominant, I know of no other significant businesses in which the leading company has long enjoyed such global power… The might of their brand names, the attributes of their products, and the strength of their distribution systems give them an enormous competitive advantage, setting up a protective moat around their economic castles.

Buffett is looking for companies that produce high annual returns when measured against the company’s asset base and that require little additional capital. He is looking for a kind of financial magic – companies that can earn excess returns without requiring excess capital. He’s looking for companies that seem to grow richer every year, without demanding continuing investment.

In short, the secret to Buffett’s approach is buying companies that produce huge returns on tangible assets without large annual capital expenditures. He calls this attribute “economic goodwill.” I call it “capital efficiency.”

These kinds of returns shouldn’t be possible in a rational, free market. Fortunately, people are not rational. They frequently pay absurdly high retail prices for products and services they love.

Buffett explained how another of his holdings, See’s Candy, earned such high rates of return on its capital in his 1983 annual letter, which I urge everyone to read. In explaining See’s ability to consistently earn a high return on its assets (25% annually, without any leverage), Buffett wrote…

It was a combination of intangible assets, particularly a pervasive favorable reputation with consumers based upon countless pleasant experiences they have had with both product and personnel.

Such a reputation creates a consumer franchise that allows the value of the product to the purchaser, rather than its production cost, to be the major determinant of selling price…

That’s the whole magic. When a company can maintain its prices and profit margins because of the value placed on its product by the purchaser rather than its production cost… that business can produce excess returns – returns that aren’t explainable by rational economics.

Those, my friend, are exactly the kind of companies you want to own.

And… you especially want to own these stocks during inflationary periods. As things get more and more expensive in the coming years, capital-efficient companies will have to buy less than other companies, on average.

The result will be that inflation tends to lift their profits, rather than reduce them. In the inflationary crisis I see ahead, this is single-best way for stock investors to grow wealth, rather than lose it.

Regards,

– Porter Stansberry

Warren Buffett established a position in dividend aristocrat Coca Cola in 1994. Check out his comments on that investment from a letter to Berkshire Hathaway shareholders:

"Coca-Cola paid us $88 million in 1995, the year after we finished purchasing the stock. Every year since, Coke has increased its dividend. In 2011, we will almost certainly receive $376 million from Coke, up $24 million from last year. Within ten years, I would expect that $376 million to double. By the end of that period, I wouldn’t be surprised to see our share of Coke’s annual earnings exceed 100% of what we paid for the investment. Time is the friend of the wonderful business."
 

What so good about assets???

 

 

 

Why assets with cash flow are better choice for small retail investors like Uncle8888.

In Investing, where does the Luck come from???



Did anyone notice one particular word in Uncle8888's blog Title?

Part luck!!!

In Investing, where does the Luck come from???


First, do you believe you will strike the next ToTo JackPot?







Uncle8888 believe he will.

Why???

We will strongly believe we can if we can see it with our eyes and hear them with our own ears.

Uncle8888 has personally witnessed three ToTo JackPot winners and one Second Prize Big Sweep winner.

One can get lucky!

BUT ....

Did you religiously buy ToTo like them?

Same as in investing, did you religiously do these at all times across market cycles ...

Market Timing, Gut, and Patience will lead you to more luck and may strike JackPot one day.

Did you realize how Uncle8888 getting luckier with his multi-baggers blue chips?


BTW, have you bought Monday's ToTo?

Uncle8888 has already bought the Winning JackTop ticket. Sorry! You no chance liao!

Buy and Hold??? How easy to do that with a winning stock?

Just For Thinking ....


Uncle8888's real life experience ...

Market cycles will make us feel like a fool at certain points in time.

Right?

Read? This Buffett Technique Will Increase Your Dividends (2)


How many retail investors can overcome that foolish feeling over market cycles?

No More Shine? Gold Plunges Into Bear Market Territory

CW8888: Market cycle. Gold is no exception too.

 

GOLD

1501.40

;

-63.50

-4.06%

 

 

 

 

 

 

 

 

 

 

 

  

By: Patti Domm CNBC Executive News Editor

                

                     

Source: World Gold Council

       

Gold plunged into bear market territory Friday, as a fierce selling wave swept across commodities markets and shorts raised their stakes.

Gold tumbled four percent and fell below $1,500 per troy ounce for the first time since July, 2011. It officially entered bear market territory Friday, down more than 20 percent from its August, 2011 high of $1,891.90.

Silver futures lost nearly five percent to $26.30, and it is now 45 percent below its April, 2011 to high. Oil fell more than 2 percent, with West Texas Intermediate breaking through a support level at around $92 per barrel.
 

 

 

 

Keppel AmFELS delivers third jackup rig to Perforadora Central

Keppel AmFELS LLC, a wholly owned US subsidiary of Keppel Offshore & Marine Ltd (Keppel O&M), has delivered the jackup rig, Papaloapan, to Mexico's Perforadora Central SA de CV (Perforadora Central) on time, within budget and with a perfect safety record.

The rig was christened today at Keppel AmFELS' yard in Brownsville, Texas by Lady Sponsor, Mrs. Gabriela Jiménez de Alvarez Morphy, wife of Mr Luis Alvarez Morphy Camou, Director of Perforadora Central.

Papaloapan is the the third jackup rig built by Keppel AmFELS for Perforadora Central and is based on the LeTourneau Super 116E design. Capable of drilling wells up to 30,000 ft at a water depth of 375 ft, it is the first Super 116E newbuild to be further enhanced to provide for an additional 1,500 kips of elevated load.

At the ceremony, Mr G.S. Tan, President and CEO of Keppel AmFELS, said, "We are glad to be able to deliver another high quality rig to Perforadora Central on time, on budget and in a safe manner. This is the third jackup rig we have delivered to Perforadora Central since 2004 and the fourth rig is in progress with delivery in mid-2014. This is a result of our close partnership with Perforadora Central and our strong engineering and project execution expertise."

Papaloapan has been chartered by PEMEX, the Mexican national oil company, for work in offshore Mexico. Keppel AmFELS' close connection to PEMEX includes having built two 220 Men accommodation modules for Pemex in 2006 as well as repairing and servicing a total of 16 rigs that have been chartered by PEMEX from other companies over the years.

In Singapore, Keppel FELS is building two KFELS B Class jackups for PEMEX directly as well as four for Mexican company, Grupo R. These are in addition to another four units being built by Keppel FELS for Mexican companies such as Oro Negro and CP Latina.

Mr Tan added, "Keppel has developed a strong partnership with Mexican companies. Besides the current rigs that we are building for Perforadora Central, we are also going to repair a jackup rig for PEMEX soon. PEMEX's demand for jack up rigs is expected to remain strong and Keppel's near market, near customer strategy has put us in a good position to benefit from it"

Mexico recently announced that its reserves increased 0.4 percent from a year ago to 13.86 billion barrels as of 1 Jan 2013. PEMEX has announced investment plans of US$25.3 billion for 2013, of which US$20 billion will be targeted at upstream activities.

Mr Patricio Alvarez Morphy Camou, General Director of Perforadora Central said, "We are extremely happy with the job Keppel AmFELS has done not only in delivering the previous two rigs for us, but also in the excellent work done on Papaloapan. We have developed a great working relationship with Keppel AmFELS over the years, and can only look forward to accomplishing other great projects together, starting with the work-in-progress of our latest new build Jackup, Coatzacoalcos."

Keppel AmFELS previously completed Tonala, an ultra premium KFELS B Class jackup for Perforadora Central in 2004, followed by Tuxpan, a LeTourneau S116E rig in 2010. The yard's current projects include the construction of a LeTourneau Super 116E jackup rig for Perforadora Central, which is scheduled for delivery in 2Q 2014 and the major upgrade of the semisubmersible rig, Ocean Onyx, for diamond Offshore.

Kris Energy closer to listing after Bangladesh deal?

By

ronnie lim

print |email this article

KRIS Energy, established by the former founders of Pearl Energy and which counts Keppel Corporation as a stakeholder, is moving ever closer to a listing on the Singapore Exchange, especially following its latest foray into Bangladesh this week.

The Singapore-based oil and gas exploration and production group on Tuesday secured its first Bangladesh-producing asset for US$42.35 million through its 100 per cent acquisition of Tullow Bangladesh from Tullow Oil.

"It more than doubles Kris Energy's oil and gas production to 7,000 barrels of oil equivalent per day, from around 3,300 bpd currently," said Richard Lorentz, its director for business development, when asked about the significance of the deal.

"The Bangladesh acquisition from Tullow Oil also almost doubles our reserves," he told BT yesterday.

Stocks Log 4-Day Rally; Dow, S&P End at Log Fresh Closing Highs. 14,865.14 Up 62.90(0.42%)

By: JeeYeon Park CNBC.com Writer

                

Stocks ended higher Thursday lifted by an upbeat jobless claims report, with the Dow and S&P 500 closing at fresh levels, while weakness in large tech companies limited gains on the Nasdaq.

 "The market seems to be on autopilot," said Joe Saluzzi, co-manager of trading at Themis Trading. "Everyone believes there are some serious issues being overlooked, but no one wants to fight a momentum-fueled rally…Plus, we've been on very light volume; when you see rallies, you want to see buyers."

The Dow Jones Industrial Average advanced for the fourth-consecutive session, gaining 62.90 points to end at 14,865.14, lifted by Pfizer and Travelers. Hewlett-Packard dropped more than 6 percent.
 
The S&P 500 rose 5.64 points to finish at 1,593.37. The Nasdaq eked out a gain of 2.90 points to close at 3,300.16.

The S&P and Nasdaq are on pace for their second best weekly gains for the year.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended above 12.

Lian Beng posts 25.7% fall in 9-mth profits

By

Teo Si Jia

         

Construction firm Lian Beng Group on Thursday reported a 25.7 per cent fall in its net profit for the three quarters to S$30.14 million from S$40.56 million a year ago - PHOTO: SPH

Construction firm Lian Beng Group on Thursday reported a 25.7 per cent fall in its net profit for the three quarters to S$30.14 million from S$40.56 million a year ago.

 

It attributed the fall to higher operating expenses, which grew 32.5 per cent to S$3.85 million, lowering its gross profit margin.

Turnover for the nine-month period ended Feb 28 rose 5.1 per cent to S$350.66 million from S$333.65 million a year earlier.

The group's order book currently stands at S$986 million, with projects running into FY2016.

The Way to become Rich is through Compounding???

The Way to become Rich is through Compounding???



That is really wonderful in theory but in practice ...

Famous wise words from Yogi ...

"In theory there is no difference between theory and practice. In practice there is."

 

Market Meltup: S&P 500, Dow Post Record Highs; Nasdaq Ends at Best Level Since 2000. 14,802.24 Up 128.78(0.88%)

By: JeeYeon Park CNBC.com Writer

                

Stocks soared broadly across the board to finish near session highs Wednesday, propelling the Dow and S&P 500 to new record levels, boosted by strong gains in techs.

With the day's robust rally, all three major averages logged their best three-day rally of 2013 and are now in the black for the month.


The Dow Jones Industrial Average rallied 128.78 points, or 0.88 percent, to finish at 14,802.24, propelled by Merck and Pfizer.

The S&P 500 jumped 19.12 points, or 1.22 percent, to close at 1,587.73, breaking above its previous all-time high of 1,576.09 set in October 2007.

The Nasdaq surged 59.40 points, or 1.83 percent, to end at 3,297.25, finishing at a 12-year high.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, dipped below 13.

Save money. No Starbuck coffee???

Just For Thinking ....



Uncle8888 has been reading somewhere in the blogging space ...


Save money. No Starbuck coffee.

Save $XXX or $X,XXX over X or XX years.


Uncle8888 occassionally drinks Starbuck coffee but no Cheese cake!

In real life, did you personally know someone every day drinks Starbuck coffee and eats Cheese cake???


Got meh?

Dow ends at another record close as cyclicals rally. 14,673.46 Up 59.98(0.41%)

 

 

 

 

 

 

By Ryan Vlastelica

NEW YORK (Reuters) - Stocks advanced on Tuesday, with the Dow closing at a record high on a rally in cyclical shares and as earnings season started to heat up.

With the day's advance, the S&P 500 again neared its all-time intraday high of 1,576.09, recovering from steep losses last week, the index's worst of 2013.

The return to near-record levels indicates that investors are again using market declines as buying opportunities. The top sectors of the day, technology and energy, are groups that are closely tied to the pace of economic growth.

"It's encouraging that we're seeing cyclical sectors lead the rally. It's a healthy sign - investors believe the market can continue to run higher," said Joseph Tanious, global market strategist at J.P. Morgan Funds in New York.

Among blue-chip technology stocks, Microsoft Corp (MSFT.O) jumped 3.6 percent to $29.61 as the Dow's top percentage gainer. Intel Corp (INTC.O) shares shot up 3.1 percent to $21.75 while Hewlett-Packard (HPQ.N) rose 1.3 percent to $22.22. The S&P technology sector (.SPLRCT) advanced 0.8 percent while the Philadelphia semiconductor sector (.SOX) gained 0.9 percent.

An S&P index of energy shares (.SPNY) rose 0.8 percent, climbing alongside a rise of 0.9 percent in the price of U.S. crude oil, which was up on inflation data from China that reduced concerns about monetary tightening. Halliburton Co (HAL.N) rose 1.8 percent to $39.11 and Chevron Corp (CVX.N) gained 0.7 percent to $118.64.

The Dow Jones industrial average (.DJI) advanced 59.98 points, or 0.41 percent, to 14,673.46, a record closing high. The Standard & Poor's 500 Index (.SPX) gained 5.54 points, or 0.35 percent, to 1,568.61. The Nasdaq Composite Index (.IXIC) added 15.61 points, or 0.48 percent, to close at 3,237.86.

The Dow also touched a record intraday high at 14,716.46.

Stocks also got a boost from a promising start to the earnings season. While only 5 percent of S&P 500 companies have reported results so far, almost three-quarters of them have topped expectations, according to Thomson Reuters data. Still, profits are seen rising just 1.5 percent from a year-ago quarter, down from estimates in January for growth of 4.3 percent.

"Expectations have gotten managed down to the point where we could more easily see companies beat expectations, making it easier for us to pop," said Kristen Scarpa, a New York-based investment strategist at Barclays, which has a year-end target of 1,595 for the S&P 500.

Late Monday, Alcoa Inc (AA.N) reported adjusted earnings that beat expectations, though revenue was below forecasts. Shares of Alcoa, which as the first Dow component is unofficially seen as setting the tone for the earnings season, closed flat on the day at $8.39.

There have been 4.7 negative first-quarter preannouncements for each positive one, according to Thomson Reuters data, the worst ratio since the third quarter of 2001.

Bucking that trend, however, was First Solar Inc (FSLR.O), which surged 45.5 percent to $39.35 as the S&P 500's top gainer by far after forecasting 2013 earnings and revenue well above expectations.

The news lifted the solar sector, with Yingli Green Energy (YGE.N) climbing 21 percent to $2.24 and Trina Solar (TSL.N) up 14.6 percent at $4.40. The Market Vectors Solar Energy ETF (KWT.P) rose almost 13 percent to $40.68.

About 56 percent of the shares traded on the New York Stock Exchange closed in positive territory. In contrast, 53 percent of Nasdaq-listed shares closed lower.

Volume was light, with about 5.71 billion shares changing hands on the New York Stock Exchange, the Nasdaq and NYSE MKT, below the daily average so far this year of about 6.48 billion shares.

Recent data have shown the U.S. economy is growing but at a slow pace. The March payrolls report showed jobs creation was less than half of what economists had expected. Analysts said, however, that the market has the momentum to push indexes higher, even with the Dow Jones industrial average up about 12 percent and the S&P 500 up about 10 percent for the year.

Syndicated finance: DBS is tops in Asia-Pacific ex-Japan

UOB is No 2 in Q1 ranking, followed by Chinese and Australian banks

 

By

Siow Li Sen

        

DBS Bank has become the go-to bank for syndicated finance as its strong balance sheet and ability to structure complex loans help it win mandates from large multinationals, especially the global commodity houses.

According to Thomson Reuters, in Q1 2013, DBS was ranked the top arranger for syndicated finance in Asia Pacific (ex-Japan), followed by United Overseas Bank. DBS did 20 deals valued at US$5.2 billion while UOB had 10 worth US$4.8 billion.

The rest of the Asia Pacific ex-Japan top 10 league table comprise Chinese and Australian banks.

Syndicated loans in the region in Q1 2013 came to US$60 billion, unchanged year on year. Last year, the total was US$308 billion, down from 2011's record US$341 billion.

This Buffett Technique Will Increase Your Dividends (2)

Read? This Buffett Technique Will Increase Your Dividends


How come Warren Buffet can bo chap?

Keppel tipped for floater

By Tan Hwee Hwee

 04 April 2013 22:59 GMT

Malaysia’s M3nergy is understood to have lined up Singapore’s Keppel Shipyard for the conversion of a floating, production, storage and offloading vessel destined for the Petronas-operated Bukit Tua oil and gas development off Indonesia.

Keppel secures repeat jackup order from Ensco worth about US$225 million

It is the 61st KFELS B Class Jackup ordered since 2000

 

 

 Keppel FELS Limited (Keppel FELS), a wholly-owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has secured a contract to construct a KFELS B Class jackup rig, ENSCO 110, from Ensco plc (NYSE: ESV). The construction cost, together with the commissioning, systems integration testing and project management is expected to be approximately US$225 million.

When completed in 1Q 2015, it will be the fourth KFELS B Class Bigfoot jackup rig in Ensco's fleet. Keppel has built a long-term partnership with Ensco having delivered 16 newbuild projects to them with another four on order, including this latest contract.

Mr Tong Chong Heong, CEO of Keppel O&M said, "We are glad to have long-standing customer Ensco reaffirm their confidence in our capabilities and rig design. The KFELS B Class is a proven design which is today the industry benchmark. We are honoured that Ensco, one of the world's leading offshore rig operators, has been a tremendous supporter of our proprietary designs and look forward to supporting them in the growth of their premium rig fleet."

The cost-effective and high-performance KFELS B Class Bigfoot rig is able to operate in water depths of up to 400 feet and drill to 30,000 feet deep. ENSCO 110 will have a nominal variable deck load of 7,500 kips and a cantilever load of 2,500 kips. It will also feature a 1.5 million-pound derrick, TDS-8 top drive and 15k BOP. Ensco has customised the rig to add dual drilling fluid capability and to upgrade the living quarters to 6 one-person and 67 two-person rooms.

Mr Dan Rabun, Chairman and CEO of Ensco plc, said, "We see that customer demand in the premium jackup market is very strong and new construction is a key element of Ensco's continuous high-grading strategy. Our three KFELS B Class Bigfoot rigs have proven to be highly efficient drilling platforms with industry-leading features for safety and environmental friendliness. We have built a strong relationship with Keppel FELS and the three ENSCO 120 Series rigs they are currently building for us based on the KFELS Super A Class design are testament to this."

Developed by Keppel's technology arm, Offshore Technology Development, the KFELS B Class jackup design provides maximum uptime with reduced emissions and discharges.

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



CW8888's estimated Kep Corp's Order Book
 

Singapore's DBS, Temasek extend Danamon agreement for 2 months

SINGAPORE, April 8 (Reuters) - DBS Group Holdings' agreement to buy 67.4 percent of Indonesia's PT Bank Danamon from Singapore state investor Temasek Holdings Pte Ltd has been extended by another two months, as approval of the deal languishes in Jakarta.

The so-called "long stop date" or the last date of the agreement expired last week, sources with direct knowledge of the matter told Reuters.

"DBS confirms that we have extended the long stop date to June 2 or such other later date as the parties may agree," a DBS spokesman told Reuters.

A Temasek spokesman also confirmed the extension.

Temasek now owns about 29 percent of Singapore-based DBS, Southeast Asia's largest bank. That will rise to about 40 percent if the Danamon deal goes through.

DBS's $7.2 billion bid to buy Danamon, Indonesia's sixth-biggest lender, has been stuck for a year due to regulatory obstacles since Bank Indonesia, the country's central bank, announced it would cap ownership stakes in banks.

Indonesia is also pressing Singapore for the need for reciprocity over foreign bank licences, adding pressure on Singapore to open up its banking sector if the DBS bid for Danamon is to go ahead.

Climbing your investing or corporate ladder? (3)

Read? Climbing your investing or corporate ladder? (2)

 

Climbing your investing or corporate ladder? (2)

Just For Thinking ...

Read? Path to Financial Freedom for the Young ones???

Read? Talent and Investing??

Read? The Real World


Let be honest with ourselves and Get Real!

What else can we DIY for our retirement needs if active income from our job may not be large enough for us to reach there.

Can we afford to outsource our  responsibilities of managing our investment portfolio to third party at costs which over long run will definitely eat into our returns and basically learn LITTLE to upgrade our investing knowledge and skills?


Read? STI ETF. Passive??? Really??? No Free Lunch and Not Risk Free!!!


How strong is your belief in this model will determine your investment path that you will eventually take?

DIY as active retail investors

or

Outsource as small passive retail investors? (Key here is small)

We will reap what we sow in Life and that is the Universal Law!

How to become rich in stocks??? (16)

Read? How to become rich in stocks??? (15)


Learn to become like Warren Buffet???








No. We can't!

But, we can become like Mini, Micro or Nano Warren Buffet.

Why not?

One way to fully understand Warren Buffet's Rules.

Rule No.1: Never lose money. Rule No.2: Never forget rule No.1 - Warren Buffet

"Buffett also uses his own unique definition of risk. To Buffett, the risk of holding any stock is only the permanent loss of capital. Apparently risking the temporary loss of even very large amounts of capital is of little or no concern to him. But for the rest of us who will eventually need the return of the capital we invest, even the temporary loss of a portion of it might create a serious financial hardship." Chuck LeBeau

Read more? You Are Not Warren Buffett

Read? Getting good returns without too much risk???


Follow another wise man's rule

This is what my Sifu, Jessie Livermore said:

In the famous book entitled Reminiscences of a Stock Operator, Jessie Livermore said: “After spending many years in Wall Street and after making and losing millions of dollars I want to tell you this: It never was my thinking that made the big money for me. It always was my sitting. Got that? My sitting tight!

It is no trick at all to be right on the market. You always find lots of early bulls in bull markets and early bears in bear markets. I've known many men who were right at exactly the right time, and began buying or selling stocks when prices were at the very level, which should show the greatest profit.

And their experience invariably matched mine -- that is, they made no real money out of it.

I found it one of the hardest things to learn. But it is only after a stock operator has firmly grasped this that he can make big money. It is literally true that millions come easier to a trader after he knows how to trade than hundreds did in the days of his ignorance.”

Men who can both be right and sit tight are uncommon.
 

May be it is easier to learn form late Uncle Chua from Singapore.  Something closer to home!


Definitely, we can become like Mini, Micro, or Nano Uncle Chua!

Read? Value Investing Made Simple by Uncle Chua (2)

 

STI ETF. Passive??? Really??? No Free Lunch and Not Risk Free!!!

STI ETF

Passive???

Really???

No Free Lunch and Not Risk Free!!!


See an example from one of those FAQ on ETF found in Singapore broker's website

What's the difference between the market price and NAV of an ETF?

Net Asset Value (NAV) refers to a ETF's total assets minus its liabilities. It is calculated at the end of each trading day based on the last done price of each constituent stock of the benchmark index. An Indicative NAV (iNAV) is calculated periodically throughout the day.


How are management fees calculated in ETF?

An ETF charges a management fee which is calculated and accrued daily in the Net Asset Value (“NAV”) calculations. This fee will be directly deducted from the assets of the ETF regularly. Most ETF charged their management fees as a Total Expense Ratio (“TER”) which represents the all-in fee that the ETF will pay to the Manager. From the TER, the Manager will pay for all other fees and expenses, such as custodian fee, index-licensing fee and legal expenses, etc. Investors are advised to refer to the prospectuses of individual ETF for information on fees and expenses.



Read? STI ETF - Cost of substitution???

Read all? Rest of them


Ask Uncle8888?

After reading those past blog posts, do you still think that STI ETF really passive?

Not really passive; but affordable for retail investors to do diversification and/or wealth preservation.

Actually, you are just outsourcing your responsibilities for managing your own investment portfolio at costs. Costs over long term will definitely eat into your return.

Absolutely No Free Lunch!!!

Why???

Are you providing more than just lunch for management fee?

Read the above again until you become fully aware.


Learn to be Street Smart in Investing. Do Street Smart Thinking.

How to learn to be Street Smart in Investing?



Hmm ....














Learn from Street Fighters in Investing.

Bill Gross On Buffett, Soros And Himself: Is Great Investing Just Right Place, Right Time?

There is no Bond King.

So says Bill Gross, a man to whom the moniker has been ascribed over the years, in his April Investment Outlook at Pimco. There is no Stock King either, he adds.

The reality, Gross writes, is that many of the investing legends people flock to for pearls of wisdom — folks like Warren Buffett, George Soros and Loomis Sayles bond guru Dan Fuss (and yes, even himself) — may simply have won the chronological lottery by coming of age during the greatest stretch the investment world has ever seen and managing to avoid the massive blowups that claimed or blunted the careers of so many contemporaries.

All of us, even the old guys like Buffett, Soros, Fuss, yeah – me too, have cut our teeth during perhaps a most advantageous period of time, the most attractive epoch, that an investor could experience. Since the early 1970s when the dollar was released from gold and credit began its incredible, liquefying, total return journey to the present day, an investor that took marginal risk, levered it wisely and was conveniently sheltered from periodic bouts of deleveraging or asset withdrawals could, and in some cases, was rewarded with the crown of “greatness.” Perhaps, however, it was the epoch that made the man as opposed to the man that made the epoch.
via PIMCO | Investment Outlook – ​A Man in the Mirror.

The way Gross tells it, the incredible expansion of credit created a rising tide over the past 40 years. The most esteemed investors these days are the ones who managed to survive the inevitable swells that have occasionally rocked their boats in the interim. At those times, the Berkshire Hathaways and Pimcos of the world were able to skirt the withdrawals and redemptions that “clipped competitors at just the wrong time,” he writes.

                     
And having firepower to put to work when others are fleeing a particular market or asset class is a great way to capitalize years down the road — just have a look at Buffett’s crisis-era investments in Goldman Sachs and General Electric, or his 2011 bet on Bank of America.

The question Gross asks is whether the current class of investing legends will be able to adapt if a new paradigm is really in the offing — either because the future will feature repeated bouts of “2008 Lehmanesque volatility” or the scarcity of resources produces continual geopolitical conflict, or the massive injection of monetary stimulus by central banks fails to keep asset prices afloat.

In Christopher Nolan’s The Dark Knight, Harvey Dent tells Bruce Wayne, “You either die a hero or you live long enough to see yourself become the villain.”

Gross hits on a similar theme in his commentary, citing the particular brilliance of ex-Fidelity mutual fund manager Peter Lynch, who retired before seeing his “buy what you know best” strategy be tested by the stresses of the dot-cum bust and the 2008 financial crisis.

But even though the conditions that enabled the current crop of legends to burnish their bona fides may be eroding, Gross suggests they may never see the sun set on their epoch (or in the parlance of the Batman film, live long enough to become the villain):

The problem with the Buffets, the Fusses, the [Jeremy] Granthams, the [Howard] Marks, the [Ray] Dalios, the [Leon] Coopermans, and the Grosses of the world is that they’ll likely never find out.  Epochs can and likely will outlast them.

The next investing epoch is not likely to feature widespread credit expansion, Gross writes — he cites a book, “Triumph of the Optimistis,” which describes the 101 years up to 2002 as a period where “it paid to be an optimistic and a risk taker as opposed to a more conservative Scrooge McDuck” — but it is clear that he and the other investing legends he cites are not ignoring the potential paradigm shift.

Gross describes Pimco’s missteps in 2011, when the firm slashed its holdings in U.S. Treasuries just in time for a big rally. But Pimco quickly stopped swimming against that tide and enjoyed a comeback. Still, his concern about the end of an era of “perpetual credit expansion and its fertilization of asset prices and returns” is worth pondering and one plenty of top-flight managers are considering.

Bridgewater Associates founder Dalio is on the record saying there will be a massive opportunity to short bonds when the massive bull run over the past several decades finally unravels, but even he has said the timing is not yet clear.

'I'm Guilty Too' Says Mobius of Common Investor Pitfall

By: Matthew J. Belvedere

Procrastinators, take heart, you are not alone. Even the pros, don't react as quickly as they could.
"Inertia—you don't get around to it" is a big reason why investors are holding bonds and cash instead of stocks, Mark Mobius, executive chairman of Templeton Emerging Markets Group, told CNBC's "Squawk Box" on Friday.

Recently looking at his own portfolio—which he said he never has time for because he's managing other people's money—Mobius revealed, "I've got something like one third in cash. What am I doing?"

Like many investors, he asked himself that question and concluded, "'Hey, it's time to get into equities.' This is the inertia you see and I think that is going to change." In fact, he said, "I called my banker and said 'do more in equities' because it's crazy for me to be sitting on this cash."

(Read More: Stocks, Bonds Tell Two Stories; So Who's Right?)
What he experienced with his personal portfolio, Mobius said, is part of a larger trend of investors starting to "wake-up to the reality" that stocks are the only way for them to get real returns on their money.

"It takes time," he continued. "People don't move very fast. But once they move, then you're going to see tremendous bull markets. We're already seeing a very significant bull market [in the U.S.], but this is just the beginning as far as I'm concerned."

Stocks on Wall Street continue to hover around all-time highs with both the Dow Jones Industrial Average and the S&P 500 Index up double-digits in the first quarter alone.

(Read More: Are Stock-Shy Americans Risking Their Retirements?)

On global markets, Mobius said that the Bank of Japan's aggressive new stimulus measures are great for Japanese stocks "and markets all over the world, particularly Asia."

At this point, he said the Asian markets are not that concerned about the provocations coming out of North Korea. "The element of surprise is not there yet. So if anything is going to happen, it'll happen after the story dies and North Korea will do something." He did say the reaction of the United States to the threat is worth watching.

As for Europe, he called the situation in Cyprus "unbelievable" and damaging to the confidence across the Eurozone. But he said the "Euro will survive—will get over this—after many policy mistakes." He said he would stick with investing in the eastern European countries, which will be aided even more by the eventual rising tides across the continent.

CPF vs SGS??? (2)

Read? CPF vs SGS???


How bad is CPF OA?


Uncle8888 has been locking his winning money from the stock market in CPF OA for years earning 2.5% compound interest.


Read? CPF investment account is good at locking up profits!

Now, tell me.

How bad is CPF OA in locking up your investment gains?

Should our investing decisions be continuous struggle??? (6)

Just For Thinking ...


Read? Should our investing decisions be continuous struggle??? (5)


Are you worrying over cash idling or rotting in your Banks?


Have you been tracking and measuring your investing performance?


NO?

Lack of confidence will generally lead to more worries.

Over confidence may lead to excessive risks taking.

That is the human nature in investing.

Take actions Today by reading? XIRR and investing performance measurement

CPF vs SGS???

Read? Lessons on Compound Interest vs Compound?


Leaving your money in CPF OA is earning compound interest at 2.5% p.a..

Lending your money to Govt via SGS is trying to make 2.6% compound return.

Re-investing is not risk free compound return.

Re-invest at the wrong time. KNS!!!


Still don't understand???

Come to Hougang Mall ToastBox for kopi lor.

Don't worry!

Uncle8888 won't charge you $XXX

Lian Beng's order book tops $1b mark

Latest two deals are light industrial developments for Oxley Holdings

 

By

ong chor hao

         

Mr Ong Pang Aik: Lian Beng aims to maintain its momentum in securing more projects. - FILE PHOTO

RIDING on its contract momentum, Lian Beng Group has clinched two more deals worth $201 million, bringing its order book to a record high of almost $1.09 billion.

The construction group said yesterday that the contracts are for the building of two multiple-user light industrial developments for Oxley Holdings.

The deals follow a $220 million construction contract for Bartley Ridge condominium (a Hong Leong Holdings, City Developments and TID project), won on March 25, and a $117 million contract to build TG Development's Skies Miltonia condo at Yishun clinched on Feb 18.

"We are delighted to have reached the billion-dollar mark for our order book. Notwithstanding, we will not rest on our laurels but will aim to maintain our momentum in securing projects," said Ong Pang Aik, Lian Beng chairman and managing director.

STI 3,321.77 Up 4.18(0.13%)

S&P 500, Dow Finish at Record Levels. 14,662.01 Up 89.16(0.61%)

 

By: JeeYeon Park CNBC.com Writer

 

Stocks closed in positive territory Tuesday, with the Dow and S&P 500 both closing at record highs, boosted by gains in the health care sector.


The Dow Jones Industrial Average gained 89.16 points to end at 14,662.01, after hitting a fresh intraday high of 14,684.49 earlier in the session. UnitedHealth and Home Depot led the gainers, while Hewlett-Packard slumped.

The S&P 500 climbed 8.08 points to finish at 1,570.25. The next milestone for the S&P 500 is its all-time intraday high of 1,576.09, set on October 11, 2007. The Dow and S&P have zigzagged between gains and losses for the ninth trading session. The Nasdaq advanced 15.69 points to close at 3,254.86.

The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, ended near 13.

What is Cash Cow?

Just For Thinking ....