ytl出手了，下一个会是谁？

In the biggest Singapore Real Estate Investment Trust (REIT) deal to date, YTL Corporation, one of Malaysia's largest conglomerates, has acquired around 36% in Macquarie Prime REIT (MP Reit), and a 50% stake in its holding company Prime REIT Management Holdings (PRMH).YTL will buy the stakes from Macquarie Bank for around SGD285mn (US$193mn), in a deal that will make it MP REIT's largest shareholder and give it control of the trust. MP REIT boasts a portfolio consisting of 10 major properties in Singapore, Tokyo and China which is worth around SGD2.2bn, and has a market cap of around SGD516mn.

买50%控股的原因是有50%就可以命名了，那个52%price premium随便inject一两个properties进去就可以拿回来了
想象新加坡orchard road的ngee ann city & wisma atria上面高高挂着Starhill Global REIT

It was the best of times, it was the worst of times --Charles Dickens

India

还没看的推荐大家去看michael backman's asia future shock的chapter 6
the rush out of india by indian companies

我注意越来越多bursa的公司资产被印度公司买去了
Unza-Wipro
Tamco Switchgear->Larsen & Toubro Ltd
jspc-> axon ->HCL Tech
lfib的forest->indian company



结论是
会有越来越多的indian mnc

capitaland malaysia reit

记得注意是否AEI后还是AEI前就IPO,
如果是AEI后，吸引力大减
=)

国际trust fund在malaysia stock exchange的动作

可以看看国际trust fund在malaysia stock exchange的动作
http://www.mffais.com/rankings/my/

美国home foreclosure反思

其实在很久很久以前，在媒体没有任何报导美国financial crisis的时候
我已经“看到”了，可是我不知道自己“看到”了，结果错过了

要知道更多，请看http://iamfacingforeclosure.com/history.html

Singapore F1 a boon for hotels - in Johor

2008年7月28日the business times的头条
Singapore F1 a boon for hotels - in Johor

1xxx年,california gold rush,发大财的不是挖金的，而是卖牛仔裤的
我看到的是2009/2010年n月n日
Singapore Casino[s] a boon for ??? - in ??

Singapore’s first Formula One (F1) night race (September 26-28 ) is turning out to be quite the moneyspinner for hotels and travel agents - in Malaysia, that is.

Some visitors who are flying in for the big event have found an alternative to the inflated room rates at Singapore hotels, by booking five-star hotels across the Causeway where prices work out to a mere fraction of what is being charged here.

Johor Baru-based travel agency, New Asia Holidays, has been receiving calls from interested parties as far away as Europe since February this year. The travel agency has organised a special four day-three night F1 travel package, complete with daily return transfers between Johor Baru and the race circuit in Singapore.

Starting at $800 per person, the tour package boasts the option of both high-end hotels like the five-star Hyatt Regency Johor Baru as well as more affordable accommodation and even sightseeing tours.

According to general manager Raaj Navaratnaa, ‘response has been very good’, with 350 confirmations to date, although he expects numbers to run into 550-600 once September rolls in. Slightly over 60 per cent of the confirmed bookings so far hail from European countries and regions such as Germany and Scandinavia, while close to 30 per cent are from Australia. Bookings from the region such as Malaysia and Thailand have been softer, he added.

To avoid heavy traffic, New Asia Holidays has chartered private buses and will be ferrying its customers via the Tuas link. It is also working on obtaining special group ‘clearance from Malaysian Immigration,’ said Mr Navaratnaa, which he believes will come through.

Meanwhile, over at the five-star Puteri Pacific JB, bookings have started to come in recently from both individuals and groups. Rooms are going at RM500++ (S$209) per night, with a minimum of three nights, which is still vastly cheaper than the rates charged by some of the local hotels. At this point, the Puteri Pan Pacific has 300 rooms taken up - an occupancy rate of about 60 per cent.

The Hyatt Regency JB is offering a four day-three night package at a rate starting from RM395++ per night, excluding transportation. General manager Richard Simmons said the hotel is ‘optimistic’ for higher than average occupancies, especially taking into account that generally, ‘the rate falls during Ramadhan.’

The Mutiara Johor Baru currently has a take up of 72 rooms for the F1 period. Fifty-two of its superior rooms (RM270++ per night) and 20 deluxe rooms (RM310++ per night) have been paid for so far. According to the hotel, all bookings are made by Malaysians. ‘Majority of rooms are booked for a duration of four nights stay from 25 Sept onwards. Walk-in guests will pay the same rate,’ said Lily Tham, marcom manager, adding that enquiries have been pouring in since early April.

While the current occupancy level for that weekend hovers above 20 per cent, the Mutiara is forecasting 80 per cent daily occupancy from F1 bookings alone from Sept 22 till 28. Mutiara JB has 332 rooms and suites in total.

However, Patrick Fiat, general manager for Singapore’s Royal Plaza on Scotts, pointed out that staying in JB during the F1 week would also come with a heavy price to pay. You have to ‘factor in traffic jams and the distance…plus service standards’ might not be up to snuff, Mr Fiat said.

Royal Plaza on Scotts, which is a non-trackside hotel, currently has an occupancy of about 55 per cent for its 511 rooms. Rooms at the Royal Plaza are going at $960 per night with a minimum of two nights, about three times its corporate rate and nearly double its rack rate of $500 plus.


In Singapore, hotels have not been filling up as quickly as previously anticipated, although BT understands from some hotels that the pace is picking up.

Over at trackside hotel the Fullerton, bookings have been ‘definitely going up,’ said a spokesperson. Non track-view rooms start at $2,000 per night, while track-view rooms are going at close to $3,000. The Fullerton has not lowered its rates since they were launched, the spokesperson said.

Source : Business Times - 28 Jul 2008

Resorts World at Sentosa

以下纯属虚构，如有类同，纯属巧合

http://cblog.cari.com.my/html/69/218069-136547.html -
chookf雲頂的新加坡娛樂城分析報告書

chookf的报告忘了提到只是进入赌场要给罚款，赌场外是不用的，餐饮业虽然没有赌场那么好赚，turnover也少很多，不过餐饮业的pre-tax margin(不是net margin)有double digit的,还有genting的world card很早就在新加坡，马来西亚，香港等地立足了，不好小看cross-selling的威力哦。

虽然聖淘沙名勝世界定位為家庭休閒,可是它就不能refer去马来西亚的GICC吗？
云顶也可以透过它的网路refer 中国，越南，印度等地的游客去resorts@sentosa
想想看singapore+ malaysia 2in 1 的package （要山有山(genting),要水有水(star cruises)

所谓的一年$2000的罚款，我想，两个赌场都会用各种各样的方式回扣给hnwi(所谓的vip)

所谓「濱海灣金沙」比較可以吸引到一些高階級的富裕人士,「聖淘沙名勝世界」比較可以吸引普羅大眾不成立，因为maxims本来就是vip club，加上新加坡人大多都是贪小便宜+要求多多，所以包装很重要

新加坡很大的展览厅+mall的customer card也是world card
http://www.suntecreit.com/sunteccitymall/mall_privileges.html
再看看http://apps.worldcard.com.sg/en/Main/index.aspx

再看看新加坡的政府的努力
http://app2.wda.gov.sg/web/contents/ContentsIDV.aspx?contid=385
已经很清楚地列出需要的人力与工资了
http://csp.wda.gov.sg/job.asp
确保充足的人力会减低工资的上涨压力

resorts@sentosa的员工很早就请了，计划也在24小时不停地赶工

市場規模共149.8億馬幣的市場。-保守的估计，想想sentosa那里的房子都是百万的，加上几天前的报道(全世界的SWF会在新加坡举行会议),我想如果能吸引到MICE event的人潮里面的几巴仙就能轻易超越这个目标了


因競爭緣故，因該會低於大馬的名勝世界，雖然新加坡政府調低稅務，淨利潤率估計約19％，金沙
和雲頂若平均瓜分，淨利潤約28.46億馬幣。 -云顶的profit margin肯定比金沙来的高，去看看云顶的内部运作就能知一二了，不过比马来西亚的margin会低


还有，一个比较黑暗的地方，大马没有合法的妓业，新加坡的红灯区，跟滨海湾6个mrt 站距离而已，车程会更近
还有(2)，印尼华侨在新几万亿美元的资产，去赌场转一圈出来就白白净净了


名勝世界@sentosa的忧虑，不在新加坡

tenaga马后炮

起来后才听到人说我赚xxxxx
在大马，political connections非常超级重要

megan马后炮

最近看到越来越多cd/dvd厂转战太阳能仪器生产

如果你在2007年5月看到这个，你还会买/抱megan吗？

Moser Baer of India plans to raise up to $150 million through debt or equity issue to fund the company's expansion plans, the company said in a statement. While best known as an optical storage device maker, the company is diversifying into solar manufacturing. During the last quarter, the company established a wholly owned subsidiary, Moser Baer Investments, for acquiring a 100 percent stake in its Photovoltaic Holdings Plc and Moser Baer Solar Plc in the Isle of Man.

The New Paradigm for Financial Markets

The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means
在索罗斯的新书里面，提到这次的crisis前所未有，之前每次的金融crisis,fed总会出手搭救，造成现在的crisis,现在爆发的房屋&信贷crisis，只是其中两个
他也重新提出theory of reflexivity(想法跟现实的差别),说明市场并不是时时刻刻都自衡的,也不是random的。
在市场的人们除了去了解(cognitive),还会去尝试改变(manipulative)，它们的交横，造就了现实

钱到底是什么？

August 15, 1971过后，金钱就跟黄金脱钩了

钱到底是什么
经验告诉我，钱现在只是一个信者有，不信则无的一种物品/概念
只要一直有后来者承认它并采用它，它才会发挥它的功用+保留它的价值

在马来亚香蕉钱案件，网上金钱游戏，股票市场，古董市场，用dolphin牙齿做货币的偏远的小岛，尤其如此

malaysian business 1998到现在十年免费archive

http://findarticles.com/p/articles/mi_qn6207/pg_1

resorts卖掉部分star cruises是好事？

卖了过后，就不用equity account star cruises的账目blah blah blah..

现在，让我们来看看
resorts sold star cruises to CMY(below market price)-> star cruises sold 50% of NCL to Apollo ->CMY sold his stake to Lim Kok Thay->Star Cruises 宣布进军phillipines赌场->Star Cruises Sells Two Ships To Strengthen Capital Structure

弄来弄去，最后收益的是?

明眼看mas的公布

MAS 说30%是空seat, 所以只是giveaway unseated.

我的interpretation， 所谓的30%是average而已，
比如KL-Penang unfilled seat 10%, KL - Terengganu 50%， average =30%
现在给了30%(assume 90% load factor)
90-30=60% KL-Penang的revenue就少了30% seat的revenue, Terengganu可能加了10%
-30% + 10% = -10%的seat revenue
你说，对MAS的quarter result会有影响吗？

要知道更多怎么看财经新闻，可以看看Alphesh Patel的Investing Unplugged: Secrets from the Inside

Iskandar Malaysia地库

Asiatic has 6,000 acreage next to Senai airport.
IOI Properties has a similar sized land bank also next to Senai airport.
Johor Land has 1,500 acre along North-South highway.
KSL with 700 acre along Senai-Desaru highway
UM Land with 500 acre next to Senai airport.

Of course thats not where the big fishes are located. They are the ones with excellent land bank within a 10km radius from the causeway.
UEM World with 15,300 acre;
Danga Bay Sdn Bhd with 1,400 acre;
Gamuda with 1,200 acre;
Tebrau with 1,012 acre;
Mulpha with 800 acre

Credit: Malaysiafinance

农产品起价谁受惠？

农产品起价谁受惠？
当然是中间人啦

(例子)
之前来100， 卖120， 赚20， 20%
现在来200， 卖240， 赚40， 20%

一本万利

arisaig

这是一个很著名的fund house,某个投资马来西亚的fund年年return 1x%的
有次去email看看那里可以买到
哪里知道他说不公开给retail

隔了很久一段时间后，我不死心，又跑去找它相关的资料
原来是在irish stock exchange 上市的, 1 lot = USD100000

离我好远好远

A few decades ago

几十年前，马来亚最赚钱+稳的赚钱生意(stable cash flow)
开赌档，赌博场地
种植
当店

几十年后
开赌档，赌博场地-〉赌场，赌字，炒股
种植 -> 大型专业化种植
当店-）银行，money lender

有些东西保留依旧
something never changes

why its not a good idea to invest in capital protected fund

为什么投资资本保障基金不是一个明智的决定

你们看，为什么cimb给人们赚钱的warrant都不出了
为什么capital guaranteed fund不停一直推出
银行从来不做亏本生意，所以推出之前一定做了很多backroom testing跟capital risk management 调查

我的推测，假设股市一直波动，yearly return 低过真正的inflation rate,买cap guaranteed非常不明智

除非，你的capital guaranteed expire时股市在uptrend
或，股市波动大量减少(非常小的可能性,在hedge fund越来越多的情况下)

巨人背后的女人

人人都说成功的男人有个女人

那，成功的公司(industry leader)的背后的女人又是谁呢？

答案: 世界有名的management consulting公司，或没人听过的strategist,小型consultant公司,turnaround specialist,business analyst,等等

曹仁超

看了他的文章有一段时间了，很感激在佳礼转载的网友
谢谢你

我对他的评语是，跟本地大部分财经文章相比之下，真的差太远太远太远了(写完9999次都形容不了我要表达的)
在欧美国家，这类质素的financial journal，每个quarter都要charge你几百块美金的,serious
我的suggestion是，曾曹仁超还没有realize的时候，曾他还没告侵犯版权时，有得看几多就看几多吧

大马股市在2006 2half 大起?

看了yahoo的chart跟我刚在某处看到的club membership在06年开始大起的新闻
跟两个表面上拉不上关系的东西联系起来
股市，充其量，只是一个比较effective的hedging tool
这就是几年来只有蓝筹股起的真正原因吗？

你，认为吗？

个人专区

股票上市
为了融资，为了提高公司的形象，为了让更多人认识公司，为了其他种种

在论坛开个人专区
为了广结良友?为了提高形象？为了增加blog的流量？还有为了？




在论坛开个人专区=把自己上市在论坛？

买ASW2020跟ASM是一项错误

不计算复利跟commission

ASW2020[因为刚出的时候div很高所以提高了平均总回酬
8X%

public growth fund同期
10X%

ASM -20 April , 2000
才5X%

public growth fund同期
8X%

买ASW2020跟ASM是不是一项错误呢?
source:
http://www.publicmutual.com.my/application/fund/performance.aspx
http://www.asnb.com.my/

油棕业的structural change

资料来源: http://news.google.com/news?hl=en&ned=&q=palm+oil

去看看每个月的出口，美国的进口不断在创新高，因为trans fat的issue[在大约一年前执行的fda regulation]，所以蛋糕，饼干的1st choice都是palm oil了,还特地label 放trans fat free. 上amazon,还有卖virgin red palm oil,含有coenzyme Q10的棕油制造的化妆品(一小罐要百多块马币),还有imaspro有卖棕油做base的农药
80年代，美国一直说坏palm oil,到现在，已经被证明不实了，现在又说棕油摧毁orang utan的居住地

基本上，棕油业现在已经变成一个industry了，就好像soybean酱，要想知道更多，可以去看mpob的网页的newsletter,或者是去参观mpob的展览，比如一年一度在klcc举办的invention exhibition,将会受益良多