Friday, December 12, 2008

BUYING HONG FOK IS LIKE BUYING A PROPERTY WHICH WAS ONCE WORTH 1.86MILLION AT THE PEAK OF THE CYCLE AND NOW HAS CRUSHED TO $160,000. WHEN IT WAS AT 1.86MILLION I WAS TELLING MYSELF, IF ONLY...................... A WAR, ANOTHER SARS, A FINANCIAL CRISIS COULD CRUSH THIS BABY SO THAT I CAN COME IN A BUY
REMEMBER, BAD MARKETS DON'T LAST FOREVER, HONG FOK HIGHEST TRADED PRICE AT THE PEAK WAS $1.86. TODAY'S CLOSING PRICE IS 17CENTS, THE NAV VALUE CURRENTLY $1.38. CHEAP AT CURRENT PRICE OR EXPANSIVE????????? FOR ME IT IS darn GOOD PRICE TO BUY AND HOLD!!!!!!!!!!!!!!!!!!!!!
ANOTHER REASON WHY I SAY HONG FOK IS A STEAL AT CURRENT PRICE, AMONG ALL THE LISTED PROPERTY COUNTERS HONG FOK HAS THE BIGGEST DISCOUNT TO ITS NAV OF $1.37CENTS. ABOUT 85%. YOU GO AND DO YOUR OWN MATH. GUOCOLAND NAV 2.50 SHARE PRICE $1.15, KEPLAND NAV $3.26 SHARE PRICE $2.17, HO BEE NAV $1.164 SHARE PRICE 40.5CENTS, CAPITAL LAND $3.81 SHARE PRICE $3.24, WING TAI $2.09 SHARE PRICE 76CENTS, WHEELOCK PROP. NAV $1.72 SHARE PRICE 95CENTS. SC GLOBAL NAV 97CENTS SHARE PRICE 61CENTS. THE RANGE IS BETWEEN 14%-65%. SO THINK ABOUT IT, WHY HONG FOK IS NOT SUNKIST ORANGE AT 8CENTS
I'M STILL QUEUING TO BUY HONG FOK 20CENTS, I CONSIDER HONG FOK AT THIS PRICE, IS A STEAL, RECENTLY, IF YOU CAN REMEMBER YTL CORPORATION BUYING INTO MMP REITS AT 82CENTS, ITS NAV VALUE IS $1.61 CENTS, THAT'S ABOUT 50% BELOW THE PRICE OF ITS NAV. NOW I'M BUYING HONG FOK AT 85% BELOW ITS NAV OF $1.37. HOW, GOOD OR NOT? YOU DECIDE. HONG FOK, LIKE I SAID OWNS THE CONCOURSE, I DON'T KNOW HOW MUCH THEY PAY FOR THIS PIECE OF LAND. MUST BE DIRT CHEAP AND BESIDES THE CONCOURSE, THEY ALSO OWN THE INTERNATIONAL BUILDING IN ORCHARD ROAD. WHICH IS FREEHOLD. AND AT WHAT PRICE DID THEY PAY FOR THIS LAND? YES, DIRT CHEAP AGAIN
HONG FOK AT 23CENTS
SYNEAR HAS GONE UP FROM $0.11 LOW TO $0.25. NOW ENTER SYNEAR AT $0.25 IS IT TOO LATE?
MY BUYING PRICE FOR SYNEAR FOOD WAS A LOW 14CENTS AND SINOMEM 6.5CENTS,

MY STRATEGY NOW WOULD BE TO IDENTIFY THOSE COMPANYS THAT HAVE LOTS OF CASH, STILL MAKING MONEY, GOOD MANAGEMENT, GOOD DIVIDENDS. AND ONCE BUYING IT, I'M PREPARE TO HOLD FOR 5 YEARS MINIMUM, AND OF COURSE, WITH MORE FUND TO AVE. DOWN, SHOULD THEY FALL LOWER

Thursday, December 11, 2008


I'VE SEEN IT IN 1973-75, 1986, 1997-99, AND 2003

THAT DAY THE CLOSING PRICE FOR COSCO $3.37, YANGZIJIANG 97CENTS CELESTIAL 85CENTS, FIRST RESOURCES 1.20, GOLDEN AGRI-RESOURCES 1.02 AND AUSGROUP 87.5CENTS JUST TO NAME A FEW

Wednesday, December 10, 2008


and if i miss the boat, i will miss it with some cash on hand

Tuesday, December 9, 2008


Don't be greedy. If you are fully loaded when the market collapses, you are finished.

dont sit on profits..got profit take and RUNFAST

TO FOCUS ON FUNDAMENTALS IS IMPORTANT BUT THE TREND OF THE MARKET IS EQUALLY IMPORTANT, WHEN IT IS DOWN TREND FUNDAMENTALS GOOD ALSO NO USE. TIMING IS VERY IMPORTANT.

The dominos are falling and nobody can stop them. This debt based economy will not survive; the debt will be cleared either by default or by inflation. The chance of the later are looking pretty slim right about now.

The stairwell leading up to the roof of the former Sokha Lay hotel near Central Market is pitch black in the middle of the day and full of rats, rubbish and dirty needles. Two of Phnom Penh's rooftop residents look out over the view of the Central Market and the Sorya Center

Sunday, December 7, 2008


Can it be less than $400psf wihen the breakeven cost of construction these days exceeding $350psf for most projects & $500psf for some projects?

Friday, December 5, 2008


I do not call this affordable as so many others have and are now losing thier homes. Be careful when a real estate person or bank even GOV starts talking about affordability what they are really\currently saying is enslavement.

$120 billion in aid for emerging markets, including the central banks of Brazil, Mexico, South Korea and Singapore

Cash is going to be king again, and those who have it will survive the best. Get in cash and prepare for the day when you can use your cash to pick the cherries off the tree
People used to boast about hot stocks they owned. Now they crow about how much of their money is in cash. Those holding cash have been richly rewarded with no losses and opportunities to buy assets (condos and equities) at huge discounts.
As prices continue to decline, those that moved too quickly to buy at the bottom are seen as fools. Consider the massive losses of the sovereign wealth funds, Bank of America
12/05/2008BAC 14.17, -0.17, -1.2%) and Countrywide, and even Warren Buffett's latest foray into General Electric GE 17.14, -0.41, -2.3%) and Goldman Sachs
GS 67.27, -0.26, -0.4%) . Investors, convinced that prices will continue to decline, sit with their liquid resources on the sidelines. As that investment demand takes a holiday, prices will decline further
The policy agenda currently in vogue is to maintain the leverage and the asset prices by shifting all that debt from the private sector to the public. Why are we doing this? Because the near-term political heat from a deep recession and re-pricing of assets is more than any of our leaders can handle. Eventually that massive intervention and concomitant increase in the money supply will come with a hefty price tag
There appears to be a consensus that the economy was over-levered from households to corporations to government-sponsored entities. Leverage as measured by total debt to GDP grew from 140% 30 years ago to over 220% today. If that defines the problem then the solution should be a de-leveraging over the next thirty years. That de-leveraging will cause prices to fall dramatically as the credit supply shrinks, money supply falls and velocity slows.

Steung Manchey Phnom Penh municipal landfill

Tune Hotel owned by Air Asia. I booked a a room using the Tune Hotel website for $A7.60 a night in a single room

Thursday, December 4, 2008


Hello!For the first half of this year, there were a record 34,800 new PRs and 9,600 new citizens, compared to 28,500 and 7,300 for the same period last year

the wait could be at least another nine months — if prices do come down at all — no thanks to the slew of foreigners and private property downgraders eyeing the HDB rental and resale markets respectively, which indirectly pushes up the prices of new HDB flats.

Wednesday, December 3, 2008


when globally car manufacturers are losing money and some going bankrupt, why the car dealers in Singapore still so fat ?

After HDB had a problem with a huge surplus of flats, they over-compensated and resulted in insufficient flats. This probably pushed many to buy resale flats, causing skyrocketing prices.

Tuesday, December 2, 2008


The fallout has been felt most profoundly in the local property market where soaring prices last year attracted hordes of speculators snapping up condos in the hope of making a quick profit. This sudden reversal has prompted analysts to raise concerns over possible systemic risks posed to banks from the downward spiral in property prices, given their big exposure to real estate loans. Their biggest worry is focused on the record 14,811 private properties sold by developers to homebuyers last year. Many of these flats were sold under a 'deferred payment scheme', introduced 10 years ago during the Asian financial crisis to help developers offload unsold properties and which was scrapped only in October last year. This scheme enabled a homebuyer to pay only the stamp duty and 10 per cent of the purchase price upfront. The rest is paid only when the flat is given its temporary occupation licence (TOP

Monday, December 1, 2008