NCC - service for the month Jan 09

04/01 - Cam 1, 3rd session
11/01 - Cam 1, 1st session

NCC - service for the month Dec

07/12 - Cam 1, 2nd session
14/12 - Cam 1, 3rd session
28/12 - Cam 1, 2nd session

Pastor Charles Nieman
http://www.alfc.com/

Portfolio Update - November 2008

Top Ten Holdings ( by market value, not updated )

1. ST Engineering
2. Noble Grp
3. UOB
4. SIA
5. SingTel
6. OCBC
7. Swiber
8. Comfort Delgro
9. Semb. Marine
10. Hyflux

Dividend for the month of November = $1105.48

For the year of 2008, my total dividend = $16,456.16

Market Value of equity = $262,946.10
Market Value of trust fund ( fundsupermart ) = $50,571.14 ( $2,923.32)
Market Value of trust fund ( finatiq ) = $33,568.35 ( $3,172.23)

Market continues to be volatile.......


Quotations from Warren Buffett:

Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.

Our favourite holding period is forever.

Portfolio Update - October 2008

Top Ten Holdings ( by market value, not updated )

1. ST Engineering
2. Noble Grp
3. UOB
4. SIA
5. SingTel
6. OCBC
7. Swiber
8. Comfort Delgro
9. Semb. Marine
10. Hyflux

Dividend for the month of October = $183.40

For the year of 2008, my total dividend = $15,350.68

Market Value of equity = $255,675.21
Market Value of trust fund ( fundsupermart ) = $50,571.14 ( $2,923.32)
Market Value of trust fund ( finatiq ) = $33,568.35 ( $3,172.23)

A very huge shakedown this month... continue to believe and search....

Quotations from Warren Buffet ( same as last month ):
Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.

Our favourite holding period is forever.

Portfolio Update - September 2008

Top Ten Holdings ( by market value, not updated )

1. ST Engineering
2. Noble Grp
3. UOB
4. SIA
5. SingTel
6. OCBC
7. Swiber
8. Comfort Delgro
9. Semb. Marine
10. Hyflux

Dividend for the month of September= $2,676.90

For the year of 2008, my total dividend = $15,167.28

Market Value of equity = $331,137.85
Market Value of trust fund ( fundsupermart ) = $57,301.29 ( $3,120.91 )
Market Value of trust fund ( finatiq ) = $41,334.19 ( $3,369.04 )

Quotations from Warren Buffet :
Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years.

We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.

Our favourite holding period is forever.

Home - Bills for Sept 08

Bills for the month of Sept 08

1. Singtel residential phone fixed line - $25.00 ( paid for quarter 04 apr to 03 jul 2008, 11 Apr )
2. SP Services - -( -)
3. S&CC - $18.50 ( 15 Sept )
4. SCV - no subscription yet.
5. Broadband Singtel - $45.00 ( 15 Sept )
6. Property Tax - no need due to rebates.
7. TV licence - $110 per year ( paid for 2008 )

black - not paid, blue - paid

Portfolio Update - August 2008

Top Ten Holdings ( by market value, not updated )

1. ST Engineering
2. Noble Grp
3. UOB
4. SIA
5. SingTel
6. OCBC
7. Swiber
8. Comfort Delgro
9. Semb. Marine
10. Hyflux

Dividend for the month of July= $1733.43

For the year of 2008, my total dividend = $12,490.38

Market Value of equity = $351,020.31
Market Value of trust fund ( fundsupermart ) = $66,092.30
Market Value of trust fund ( finatiq ) = $46,284.90 ( $4,165.87 )

The market continues to be low and volatile. I still feel one should continue to accumulate on weakness, contrarian mentality.

Portfolio Update - July 2008

Top Ten Holdings ( by market value )

1. ST Engineering
2. Noble Grp
3. UOB
4. SIA
5. SingTel
6. OCBC
7. Swiber
8. Comfort Delgro
9. Semb. Marine
10. Hyflux

Dividend for the month of July= $115.74

For the year of 2008, my total dividend = $10,756.95

Market Value of equity = $366,834.20
Market Value of trust fund ( fundsupermart ) = $62,637.36
Market Value of trust fund ( finatiq ) = $46,859.89 ( $4,162.32 )

The market continues to be volatile and weak. This month, we are hit with the almost collapse of Fannie Mae and Freedie Mac in US. I believe things will continue to be volalite. I still feel one should continue to accumulate on weakness.

Home - Bills for July 08

Bills for the month of June 08

1. Singtel residential phone fixed line - $25.00 ( paid for quarter 04 jul to 03 aug 2008, 23 jul )
2. SP Services - $21.00 ( 22 July)
3. S&CC - $37.50 ( 23 July )
4. SCV - no subscription yet.
5. Broadband Singtel - $87.06 ( 23 July )
6. Property Tax - no need due to rebates.
7. TV licence - $110 per year ( paid for 2008 )

black - not paid, blue - paid

Portfolio Update - June 2008

Top Ten Holdings ( by market value )

1. ST Engineering
2. Noble Grp
3. UOB
4. SIA
5. SingTel
6. OCBC
7. Swiber
8. Comfort Delgro
9. Semb. Marine
10. Hyflux

Dividend for the month of June = $998.25

For the year of 2008, my total dividend = $10,641.21

Market Value of equity = $366,834.20
Market Value of trust fund ( fundsupermart ) = $63,699.43
Market Value of trust fund ( finatiq ) = $47,462.25

Half way through 2008, my dividends is slightly above $10k.

wow.... a big drop this month... seems like the bad news is not disappearing...
the big I is the issue now... INFLATION....

many analysts still feel that this trend will continue... :(

i still believe in dollar cost averaging... till i become well verse in identifying value stocks.

NCC - service for the month July

06/07 - Cam 1, 1st session
20/07 - Cam 1, 2nd session

Market Oracle

Someone from fundsupermart recommended this article from market oracle, here.

Magazine - June 08

1. SmartsInvestor - done, 23 June
2. Pulses - done, 15 June
3. New Man -
4. Invest -
5. Insights


Edge
Digital Life

Home - Bills for June 08

Bills for the month of June 08

1. Singtel residential phone fixed line - $25.00 ( paid for quarter 04 apr to 03 jul 2008, 11 Apr )
2. SP Services - $21.00 ( 20 June )
3. S&CC - $18.50 ( 23 June)
4. SCV - no subscription yet.
5. Broadband Singtel - $45.00 ( -)
6. Property Tax - no need due to rebates.
7. TV licence - $110 per year ( paid for 2008 )

black - not paid, blue - paid

Magazine - Smart Invesstor - June 2008

page 14
She also feels that such trusts are defensive plays and will safeguard against market volatility. "Companies are restricted to paying dividends out of their accounting profits,"."Business trusts like shipping trusts can and do pay distributions to investors out of operating cash flows. As a result, trusts typically have high payout ratios." She also adds that due to long lease terms, they have a higher cash flow visibility.

List of companies with top 10 dividend yields as of may 15, 2008
1. Kyodo-Allied Industries - 26.74%
2. Ntegrator International - 22.22%
3. VibroPower - 20.00%
4. Telechoice International - 17.05%
5. Innotek - 16.67%
6. Nobel Design - 16.25%
7. Courts ( singapore) - 15.91%
8. Kinergy - 15.38%
9. International Press Softcom - 15.00%
10. Serial System- 14.71%

List of Companies with Top 10 dividend yields for 2007
1. C&O Pharmacutical Technology - 24.03%
2. Integrator International -22.22%
3. Radiance Electronics - 20.77%
4. Transmarco - 17.86%
5. Eastern Holdings - 16.67%
6. Courage Marine Group - 15.63%
7. Telechoice International - 15.6%
8. VibroPower - 15.00%
9. Advance Models Group - 14.73%
10. Sim Siang Choon - 14.22%

Page 25
Retirement planning - consider Variable Annuity. ( Manulife secure retirement )

Magazine - Smarts Investor - March 08

Page 66
Some single-premium investment-linked policies have no martality charge - that is, 100 percent of premium is invested.
Some plans are structured like the "balloon payments" of automobile leases where the bulk of the premiums are paid until, say, age 55 and the policyholder continues to enjoy both investment gains and insurance benefits thereafter.

Page 64
Deutsche Asset Management ( DWS Investment Services )
- RREEF Asia-Pacific Real Estate Securities
http://www.fundsupermart.com/main/fundinfo/viewFund.svdo?sedolnumber=DREFAPRE

Finance - Quotations

1. World renowned investor, Warren Buffet, advises his audiences that they should attempt to be fearful when otheres are greedy and to be greedy only when others are fearful.

Portfolio Update - May 2008

Top Ten Holdings ( by market value, valid for april )

1. ST Engineering
2. Noble Grp
3. UOB
4. SIA
5. SingTel
6. OCBC
7. Swiber
8. Comfort Delgro
9. Semb. Marine
10. Allgreen

Dividend for the month of April = $8,573.67

For the year of 2008, my total dividend = $9,642.96

Market Value of equity = $407,348.77
Market Value of trust fund ( fundsupermart ) = $69,865.99
Market Value of trust fund ( finatiq ) = $51,594.16

it has been a side way trading month.

But still, i will continue to invest bit by bit, to consolidate my position.

Home - Bills for May 08

Bills for the month of May 08

1. Singtel residential phone fixed line - $25.00 ( paid for quarter 04 apr to 03 jul 2008, 11 Apr )
2. SP Services - $26.99 ( 27 May )
3. S&CC - $37.50 ( 27 May )
4. SCV - no subscription yet.
5. Broadband Singtel - $45.00 ( 27 May )
6. Property Tax - no need due to rebates.
7. TV licence - $110 per year ( paid for 2008 )

black - not paid, blue - paid

Musicwhiz's blog - First Ship Lease Trust

link here.

Oilpods Investment - Biamante project

I received my 3rd monthly income from my ownership of the Biamante project= $51.07

Biamante project monthly income breakdown
May 08 = $51.07 ( 1.3619 )
Apr 08 = $51.75 ( 1.3799 )
Mar 08 = $52.23 ( 1.3929 )

Total Sum to date = $154.65
Total Holding Yield = 154.65/7586.50 = 2.04%

Oilpods Investment - BSD project

I received my 9th monthly income from my ownership of the Brookshire Salt Dome project= $102.14

Brookshire Salt Dome project monthly income breakdown
May 08 = $102.14 ( 1.3619 )
Apr 08 = $103.49 ( 1.3799 )
Mar 08 = $104.47 ( 1.3929 )
Feb 08 = $107.18 ( 1.429 )
Jan 08 = $108.75 ( 1.45 )
Dec 07 = $108.38 ( 1.445 )
Nov 07 = $108.84 ( 1.4512 )
Oct 07 = $110.89 ( 1.4785 )
Sept 07 = $114.49 ( 1.5265 )

Total Sum to date = $968.63
Total Holding Yield = 968.63/15,210 = 6.37%

An Article on Gold

From the following blog,

an article on investing in gold, Going for gold - the smart way

Portfolio Update - April 2008

Top Ten Holdings ( by market value )

1. ST Engineering
2. Noble Grp
3. UOB
4. SIA
5. SingTel
6. OCBC
7. Swiber
8. Comfort Delgro
9. Semb. Marine
10. Allgreen

Dividend for the month of April = $585.50

From 05 year 2007-04 year2008 ( over 12 months ), my total dividend is $16,779.22
For the year of 2008, my total dividend = $1069.29

Market Value of equity = $396,221.97
Market Value of trust fund ( fundsupermart ) = $70,103.63
Market Value of trust fund ( finatiq ) = $52,612.55

this month the STI index has rallied back to close to 3200 levels.

But still, we might not have seen the lowest yet. So it is better to continue to be prudent
and invest bit by bit...

Purchase of SGS T-Bills ( TB-080424-0021 )

My purchase of SGS T-Bills

The bid done for today is for the auction next week :

Issue Code - BQ08117A
Issue Date - 2 May2008
Tenor - 91 days
Maturity Date - 2008

a 10% downpayment was made ( = $100.00 ) which will be refunded when the transaction is performed next week.

I made a bid of S$1000.00

The yield will be known next week through the auction result.

yield = %
total paid = $
gain = $

Financial Terms - Net Asset Value

What does it means...
A mutual fund's price per share or exchange-traded fund's (ETF) per-share value. In both cases, the per-share dollar amount of the fund is derived by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding.

In terms of corporate valuations, the value of assets less liabilities equals net asset value (NAV), or "book value".

What investopedia says...
In the context of mutual funds, NAV per share is computed once a day based on the closing market prices of the securities in the fund's portfolio. All mutual fund’s buy and sell orders are processed at the NAV of the trade date. However, investors must wait until the following day to get the trade price.

Mutual funds pay out virtually all of their income and capital gains. As a result, changes in NAV are not the best gauge of mutual fund performance, which is best measured by annual total return.

Because ETFs and closed-end funds trade like stocks, their shares trade at market value, which can be a dollar value above (trading at a premium) or below (trading at a discount) NAV.

Details here.
NAV explained

Jim Rogers video

1. Jim Rogers on CNBC: ABOLISH THE FEDERAL RESERVE and Bernanke
2. Part 1 Jim Rogers Interview On Bloomberg
3. Jim Rogers on FED money injection - PART 1
3. Jim Rogers on FED money injection - PART 2
5. Jim Rogers on US Economy FED Ron Paul

Purchase of SGS T-Bills ( TB-080424-0021 )

My purchase of SGS T-Bills

The bid done for today is for the auction next week :

Issue Code - BQ08116V
Issue Date - 24 April 2008
Tenor - 91 days
Maturity Date - 24 July 2008

a 10% downpayment was made ( = $100.00 ) which will be refunded when the transaction is performed next week.

I made a bid of S$1000.00

The yield will be known next week through the auction result.

yield = %
total paid = $
gain = $

Difference between Hyflux n Hyflux Water Trust - kleer

An article from kleer on the differences between Hyflux and Hyflux Water Trust here.

Home - Bills for April 08

Bills for the month of April 08

1. Singtel residential phone fixed line - $25.00 ( paid for quarter 04 apr to 03 jul 2008, 11 Apr )
2. SP Services - $23.55 ( 21 Apr )
3. S&CC - $37.50 ( 17 Apr)
4. SCV - no subscription yet.
5. Broadband Singtel - $45.01 ( 11 Apr )
6. Property Tax - no need due to rebates.
7. TV licence - $110 per year ( paid for 2008 )

black - not paid, blue - paid

Purchase of SGS T-Bills ( TB-080417-0020 )

My purchase of SGS T-Bills

The bid done for today is for the auction next week :

Issue Code - BQ08115N
Issue Date - 17 April 2008
Tenor - 91 days
Maturity Date - 17 July 2008

a 10% downpayment was made ( = $100.00 ) which will be refunded when the transaction is performed next week.

I made a bid of S$1000.00The yield will be known next week through the auction result.

yield = %
total paid = $
gain = $

Oilpods - projectdreamz's blog

Found a blog of a guy who records his journey in oilpods investment.

http://oilpods.projectdreamz.com/

Interesting discussion on LMA

From nextinsight,
http://www.nextinsight.com.sg/content/view/306/60/

from wallstraits
http://www.wallstraits.com/community/viewthread.php?tid=6182

Photography - flash shooting ( extract )

And if you want to get picutres that reflect the mood of the show, try to hold off the flash from your compact camera, said photographer Geoff Ang. That means shooting at a higher ISO and keeping your camera steady.

The fashion photographer, who shoots fashion spreads and commercials, said: "Flash kills the ambience and the mood of the show. If the show uses beautiful purple lights, for example, and you use flash, your only see white light in your photo, and you don't get the feeling of the show any more."

Photography - Colour Temperature

Tungsten - in the region of 3200 degrees Kelvin
Flourescent -
Daylight - in the region of 5000 - 5500 degrees Kelvin
Flash - has a temperature around 5500 degress Kelvin
Cloudy - in the region of 6000 - 6500 degress Kelvin
Shade - in the region of 8000 - 22000 degrees Kelvin

Shooting RAW
One of the advantages of shooting RAW files rather JPEGs is that you can adjust the white balance retrospectively on your computer. You can do that with JPEG images to a degree by adjusting the colour balanc, but there's an important difference JPEG images have already been processed once by the camera, according to the original white balance setting - some colour information will have been discarded, and you can't get it back. RAW files save all the image data unprocessed. The white balance setting you chose when shooting is stored with the image as an instruction, which can be used by the RAW processing software later - it hasn't actually changed the image data in any way. So RAW files have big advantages when you're working in difficult conditions where you're not quite certain of the lighting at the time of shooting.

tungsten lighting can vary considerably in colour temperature. Household lights can be close to the 2800 degrees Kelvin average we describe or they can be considerably warmer - 2400 degress Kelvin. In the meantime, professional studio tungsten lighting is designed to be closer to daylight and may have a colour temperature as high as 3200 - 3400 degrees Kelvin.

Oilpods Investment - Biamante project

I received my 2nd monthly income from my ownership of the Biamante project= $51.75

Biamante project monthly income breakdown
Apr 08 = $51.75 ( 1.3799 )
Mar 08 = $52.23 ( 1.3929 )

Total Sum to date = $103.98
Total Holding Yield = 103.98/7586.50 = 1.37%

Oilpods Investment - BSD project

I received my 8th monthly income from my ownership of the Brookshire Salt Dome project= $103.49

Brookshire Salt Dome project monthly income breakdown
Apr 08 = $103.49 ( 1.3799 )
Mar 08 = $104.47 ( 1.3929 )
Feb 08 = $107.18 ( 1.429 )
Jan 08 = $108.75 ( 1.45 )
Dec 07 = $108.38 ( 1.445 )
Nov 07 = $108.84 ( 1.4512 )
Oct 07 = $110.89 ( 1.4785 )
Sept 07 = $114.49 ( 1.5265 )

Total Sum to date = $866.49
Total Holding Yield = 866.49/15,210 = 5.70%

Purchase of SGS T-Bills ( TB-080410-0019 )

My purchase of SGS T-Bills

The bid done for today is for the auction next week :

Issue Code - BQ08114W
Issue Date - 10 April 2008
Tenor - 91 days
Maturity Date - 10 July 2008

a 10% downpayment was made ( = $100.00 ) which will be refunded when the transaction is performed next week.

I made a bid of S$1000.00

The yield will be known next week through the auction result.

yield = %
total paid = $
gain = $

Portfolio Update - March 2008

Top Ten Holdings ( by market value )

1. ST Engineering
2. Noble Grp
3. UOB
4. SIA
5. SingTel
6. OCBC
7. Swiber
8. Comfort Delgro
9. Semb. Marine
10. Allgreen

Dividend for the month of March = $187.20

From 05 year 2007-03 year2008 ( over 11 months ), my total dividend is $16,193.72

Market Value of equity = $392,665.16
Market Value of trust fund ( fundsupermart ) = $68,904.49
Market Value of trust fund ( finatiq ) = $51,003.12

this month has been volatile too... MV is roughly the same.

Everything is still pretty uncertain. I will continue to do invest bit by bit each month.

Purchase of SGS T-Bills ( TB-080403-0018 )

My purchase of SGS T-Bills

The bid done for today is for the auction next week :

Issue Code - BQ08113X
Issue Date - 3 April 2008
Tenor - 91 days
Maturity Date - 3 July 2008

a 10% downpayment was made ( = $100.00 ) which will be refunded when the transaction is performed next week.

I made a bid of S$1000.00

The yield will be known next week through the auction result.

yield = %
total paid = $
gain = $

CPF changes in 2008

Increasing CPF returns

From 1 Jan 2008, all CPF members will earn an extra 1% interest on the first $60k in their CPF accounts. This includes up to $20k from the Ord account and $40 from the Special, Medisave and Retirement Accounts (SMRA). Or, up to $60k from the SMRA, ir the OA has less than $20k. The additional interest will go into the SMRA to add to retirement or Medisave savings.

Because of the extra interest, restrictions will be placed on funds in the Ordinary and Special accounts. From 1 April 2008, the first $20k in these accounts will not be allowed for use in CPF investment Schemes (CPFIS). They can however still be used for housing and education. Money that has already been invested under the CPFIS will not be affected.

Also from 1 Jan 2008, the interest rate formula for the SMRA will be changed to the yield (or effective rate of interest) of the 10 yr Singapore Government Securities (SGS) plus 1%. If the new SMRA formula had been in place since 1999, the SMRA rate would have average 4.5%. To help members adjust to the floating SMRA rate, the minimum interest rate for the SMRA will remain at 4% for two yrs.

( from www.cpf.gov.sg )
The first $60,000 in your combined CPF balances, with up to $20,000 from your OA, will earn an extra 1% interest. So, leave your money in your CPF accounts to enjoy this extra interest!


http://www.straitstimes.com/Free/Story/STIStory_219566.html?vgnmr=1

http://www.moneysense.gov.sg/resource/publications/quick_tips/MoneySENSE_column_CPF%20Statement1of2.pdf

http://www.mom.gov.sg/publish/momportal/en/general/Enhancing_Retirement_Adequacy.html

Key CPF Reforms At A Glance

The Central Provident Fund Board has announced a series of changes to the existing CPF scheme come January 2008

- From 1 january 2008, the CPF Board will be paying an additional 1% interest on the first $60,000 of the member's combined CPF balances, with up to S$20,000 from the Ordinary Account (OA).

- The SMRA ( Special, Medisave and Retirement Accounts ) interest rate will be pegged to the yield of the 10-year SGS ( Singapore Government Bonds ) plus 1%. SMRA money in the extra-interest tier will earn 5%.

- By 1 january 2012, employers will be required by law to offer reemployment to workers reaching age 62, to work up to age 65 and eventually to age 67.

- The Minimum Sum DDA ( Draw Down Age ) will be raised progressively from the current 62 years to 65 years in 2018.


http://newpaper.asia1.com.sg/columnists/story/0,4136,144298,00.html?

http://sgfundinvestor.wordpress.com/2007/11/26/latest-cpf-reforms/

Recommended blogs from panzer

1. Get Rich Slowly
( http://www.foldedspace.org/weblog/2005/04/get_rich_slowly.html )
2. Million Dollar Journey
3. Lifehacker
4. Life hack
5. Del.icio.us

Environment Friendly

Extract from Pulses, March 2008, page 16

Global warming, simplyput, is the increase in temperature of the earth's atmosphere caused by the burning of fossil fuels and industrial pollutants.

Fossil fuels - coals, natural gas and oil - area non-renewable source of energy. The buring of fossil fuels releases carbon dioxide into the atmosphere and leads to global warming. Effects of global warming include the disappearance of glaciers, rising sea levels and extreme weather conditions such as unpredictable hurricances.

The global warming process can be slowed if carbon emissions decrease. One way of limiting levels of carbon emissions into the atmosphere would be to use fossil fuel by shifting to renewable energy.

Renewable energy essentially refers to energy resoces that are naturally replenishing such as wind, solar and biomass. Currently, renewable technologies are relatively new and expensive, hence making them less competitive than fossil-based sources of energy. However, analysts believe that as more companies and countries begin to shift to renewable energy sources, the cost of these technologies will drop.

Below is an explanation of key renewable energy sources and terms:

SOLAR:Solar energy can converted into other forms of energy such as electrictiy. Photovoltaic (PV) solar cells directly convert sunlight into electricity.
In our daily lives, common gadgets such as watches and calculators use such solar cells to power the devices. Solar energyh has also been used for heating and cooking devices. Larger amounts of power generation are produced at multi-megawatt PV plants.

WIND:Strong and constant airflows can run power turbines and in the process generate electricity. Wind farms are becoming increasing prevalent in countries like Germany, Spain, the US, China and India. The intermittency of wind and the amount of land needed to set up these wind farms have been cited as some downsides to wind power.

BIOMASS: Biomass energy is harvested by burning agricultural, human and animal wastes. Agricultural waste is essentially the unwanted or leftover material from agricultural farming - wheat chaff, corn cob or leaves and branches. When biomass is burned, it releases heat.

HYDRO: The energy in a flowing stream of water can be tapped and used. Hydropower can be harnessed through hydroelectric dams, wave power or tidal energy.


KYOTO PROTOCOL: This accord - which came into effect in 2005 - aims to reduce the world's greenhouse emissions that cause global warming. To date, more than 170 countries, including China, India, Brazil and, more recently, Australia, have ratified the protocol. Among countries that have agreed to the Kyoto Protocol, some are oblighed to lower carbon emissions to specific target levels.

Late last year, the Bli climate change talks brought together more than 10,000 scientists, bureaucrats and politicians from over 180 countries. Delegates there discussed further ways to reduc greenhouse emissions beyond 2012 hen the Kyoto Protocol expires.

CARBON TRADING: This is a market-driven mechanism that stems from the Kyoto Protocol, which allows a country - in faliing to meet its emission targets - to buy available credits from other greener countries through the carbon credits market.

Purchase of SGS T-Bills ( TB-080327-0017 )

My purchase of SGS T-Bills

The bid done for today is for the auction next week :

Issue Code - BQ08112H
Issue Date - 27 March 2008
Tenor - 91 days
Maturity Date - 26 June 2008

a 10% downpayment was made ( = $100.00 ) which will be refunded when the transaction is performed next week.

I made a bid of S$1000.00

The yield will be known next week through the auction result.
yield = %
total paid = $
gain = $

Purchase of SGS T-Bills ( TB-080320-0016 )

My purchase of SGS T-Bills

The bid done for today is for the auction next week :

Issue Code - BQ08111H
Issue Date - 20 March 2008
Tenor - 91 days
Maturity Date - 19 June 2008

a 10% downpayment was made ( = $100.00 ) which will be refunded when the transaction is performed next week.

I made a bid of S$1000.00

The yield will be known next week through the auction result.
yield = %
total paid = $
gain = $

Home - Bills for March 08

Bills for the month of March 08

1. Singtel residential phone fixed line - $25.00 ( paid for quarter jan to apr 2008 )
2. SP Services - $23.87 ( 26 march )
3. S&CC - $18.75 ( 12 march )
4. SCV - no subscription yet.
5. Broadband Singtel - $45.01 ( 14 march)
6. Property Tax - no need due to rebates.
7. TV licence - $110 per year ( paid for 2008 )

black - not paid, blue - paid

Oilpods Investment - Biamante project

I received my 1st monthly income from my ownership of the Biamante project= $52.23

Biamante project monthly income breakdown
Mar 08 = $52.23 ( 1.3929 )

Total Sum to date = $52.23
Total Holding Yield = 52.23/7586.50 = 0.688%

Oilpods Investment - BSD project

I received my 7th monthly income from my ownership of the Brookshire Salt Dome project= $104.47

Brookshire Salt Dome project monthly income breakdown
Mar 08 = $104.47 ( 1.3929 )
Feb 08 = $107.18 ( 1.429 )
Jan 08 = $108.75 ( 1.45 )
Dec 07 = $108.38 ( 1.445 )
Nov 07 = $108.84 ( 1.4512 )
Oct 07 = $110.89 ( 1.4785 )
Sept 07 = $114.49 ( 1.5265 )

Total Sum to date = $763.00
Total Holding Yield = 763.00/15,210 = 5.02%

Portfolio Update - February 2008

Top Ten Holdings ( by market value )

1. ST Engineering
2. Noble Grp
3. SIA
4. UOB
5. SingTel
6. OCBC
7. Swiber
8. Comfort Delgro
9. Allgreen
10. Semb. Marine

Dividend for the month of February = $365.05

From 05 year 2007-02 year2008 ( over 9 months ), my total dividend is $16,006.52

Market Value of equity = $392,817.59
Market Value of trust fund ( fundsupermart ) = $-
Market Value of trust fund ( finatiq ) = $-

Overall this month has been volatile too... though my total MV is better than last month.

Everything is still pretty uncertain. I will continue to do invest bit by bit each month.

Rule of 72

Extracted from PanzerGrenadier's blog :

I also learnt more about the Rule of 72 which is a quick rule-of-thumb to determine how long your investment (or debt) doubles at a given interest rate. If you could get a return of 10% per annum compounded, it would take you approximately 7.2 years (72 divided by 10) to double your investment. If you could get a return of 2% per annum, it would take you closer to 36 years (72 divided by 2) to double your money. An 8% difference translates into 28 plus years to double your money.

http://fivecentstencents.blogspot.com/2008/02/financial-freedom-revisiting-lessons.html

Oilpods - Biamante

Today, i received the title to my Oil & Gas Investment Lease of Biamante, located in Goliad County, Texas, USA project.

The contract was signed on 21st September 2007.

Disbursement of Sourth Ellerslie phase 1#161

Received my first payout for the disbursement of South Ellerslie Phase 1.
The sum = $6,238.80

Photography - Angle Finder

Today I bought an Angle Finder for my camera.
It costs me $285, which I bought from John3:16.

I also bought a rubber dust blower for $15.

Purchase of SGS T-Bills ( TB-080228-0015 )

My purchase of SGS T-Bills

The bid done for today is for the auction next week :
Issue Code - BQ08108W
Issue Date - 28 Feb 2008
Tenor - 91 days
Maturity Date - 29 May 2008

a 10% downpayment was made ( = $100.00 ) which will be refunded when the transaction is performed next week.

I made a bid of S$1000.00

The yield will be known next week through the auction result.
yield = %
total paid = $
gain = $

Budget 2008

The Singapore Budget 2008 announced on 15 Feb 2008 has the following impacts on me

1. Tax Relief
A one-off 20% tax rebate for all resident tax-payers capped at $2000.

2. Growth Dividend
see link below on growth dividend.

Singapore Budget 2008


Notes from BT, 16-17 Feb 2008

Had the MAS not allowed the Singa dollar to appreciate over the past 2 years, the inflation rate in Q4 2007 would have averaged 6.5 per cent instead of 4.1 per cent, he disclosed.
Still, there is a limit to how fast the Singaproe dollar can appreciate without hurting our economic performance and growth, and eventually causing wages to fall.

An overly strong Singapore dollar can bring inflation down, but at the cost of lower growth and higher unemployment.

Purchase of SGS T-Bills ( TB-080221-0014 )

My purchase of SGS T-Bills

The bid done for today is for the auction next week :
Issue Code - BQ08107X
Issue Date - 21 Feb 2008
Tenor - 91 days
Maturity Date - 22 May 2008

a 10% downpayment was made ( = $100.00 ) which will be refunded when the transaction is performed next week.

I made a bid of S$1000.00

The yield will be known next week through the auction result.
yield = 1.3%
total paid = $996.76
gain = $3.24

IPO - Yongmao

Applied for IPO :
IPO price : $0.35
Shares applied : 10,000
Total cost : $3,500

Updated on 20 feb 2008
Cost Returned : $2,450
Shares Allocated : 3000
Cost : $1,050

Magazine - Feb 08

1. SmartsInvestor - done
2. Pulses - done, 19 feb
3. Edge ( 18-24 ) - done, 19 feb
4. DL ( 19 feb ) - done, 19 feb
5. Edge ( 25-1 ) -
6. DL ( 26 feb ) - done, 28 feb

update on home address

The following institutions are to be informed of my change in address

1. NPC - 11 feb, amk south npc, *
2. UOB - 12 feb, 3 working days to effect
3. DBS/POSB - 12 feb, 5 working days to effect
4. DBS vickers - 12 feb, called them, automatic link to cdp
5. CDP - 12 feb, online , *
6. Lim n Tan - 13 feb, send in form
7. OCBC - 14 feb, amk branch, received letter from them *
8. HR - 12 feb.
9. NTUC - x
10. Prudential - x
11. fundsupermart - 14 feb, online
12. finatiq - 21 feb, online
13. CPF - 14 feb, automatic link to NPC
14. Citibank - 21 feb, called them, received letter from them *
15. SAFRA -
16. UOB Kay Hian -
17. Poems -
18. Oilpods - 28 feb, met anthony
19. Walton - 28 feb, met anthony
20. NTUC Carcoop -
21. Edge - 14 feb, emailed them *
22. NTUC learning hub - 15 apr
23. M1 - 17 apr ( call 1627 )
24. NSman ( mag )- 27 May
25. E3World ( mag ) - 27 May
26. NTU Link ( mag) - 27 May
27. Just U - NTU ( mag ) - 27 May
28. Lifestyle ( mag ) - 27 May

Oilpods Investment

I received my 6th monthly income from my ownership of the Brookshire Salt Dome project= $107.18

Brookshire Salt Dome project monthly income breakdown
Feb 08 = $107.18 ( 1.429 )
Jan 08 = $108.75 ( 1.45 )
Dec 07 = $108.38 ( 1.445 )
Nov 07 = $108.84 ( 1.4512 )
Oct 07 = $110.89 ( 1.4785 )
Sept 07 = $114.49 ( 1.5265 )

Total Sum to date = $658.53
Total Holding Yield = 658.53/15,210 = 4.33%

Home - Bills for Feb 08

Bills for the month of Feb 08

1. Singtel residential phone fixed line - $25.00 ( paid for quarter jan to apr 2008 )
2. SP Services - $32.73 ( 20 feb )
3. S&CC - $37.50 ( 14 feb )
4. SCV - no subscription yet.
5. Broadband - $45.03 ( 13 feb )
6. Property Tax - no need due to rebates.
7. TV licence - $110 per year ( paid for 2008 )

black - not paid,
blue - paid

Purchase of SGS T-Bills ( TB-080214-0013 )

My purchase of SGS T-Bills

The bid done for today is for the auction next week :

Issue Code - BQ08106T
Issue Date - 14 Feb 2008
Tenor - 91 days
Maturity Date - 14 May 2008

a 10% downpayment was made ( = $100.00 ) which will be refunded when the transaction is performed next week.

I made a bid of S$1000.00

The yield will be known next week through the auction result.

yield = %
total paid = $
gain = $

The Day the Dollars Set

Interesting thread in the sgfunds forum.
thread - The Day the Dollars Sets

The video from youtube :
youtube - The Day the Dollars Sets
even got a segment comment by a Singaporean lady, Irene Cheung,
( Financial strategy ABN/AMRO, Singapore )

Portfolio Update - January 2008

Top Ten Holdings ( by market value )

1. ST Engineering
2. Noble Grp
3. SIA
4. UOB
5. SingTel
6. OCBC
7. Swiber
8. Comfort Delgro
9. Allgreen
10. Hyflux

Dividend for the month of November = $517.04

From 05-12 year2007 ( over 8 months ), my total dividend is $15,641.47
Market Value of equity = $347,807.24
Market Value of trust fund ( fundsupermart ) = $-
Market Value of trust fund ( finatiq ) = $-

Semb. Marine dropped out of my top ten becos of the hedging scandal.
Swiber dropped from 4 to 7.

Overall this month has been very volatile... and since the start of the year. the market has been heading south following the US market. Dow Jones is heading down becos of fear of recession.

I believe US will be heading for a recession or a slow down and being the largest economy in the world, it will inevitably affects all markets. Even though our economy has venture into other growing emerging markets, US economy will definitely has some inpact on us. So I expect the market to be on the low for the coming months, and I will continue to do bit by bit investing, trying to spot under value stocks.

Purchase of SGS T-Bills ( TB-080204-0012 )

My twelvth purchase of SGS T-Bills

The bid done for today is for the auction next week :
Issue Code - BQ08105H
Issue Date - 4 Feb 2008
Tenor - 91 days
Maturity Date - 8 May 2008

a 10% downpayment was made ( = $100.00 ) which will be refunded when the transaction is performed next week.

I made a bid of S$1000.00

The yield will be known next week through the auction result.

yield = 1.47%
total paid = $996.29
gain = $3.71

Finance Learning - Show Me The Money Volume I - part 2

11. Correlation is Key To Reducing Risks
Correlations have risen. Correlations higher during crisis.

12. Peter Lynch's Secret : Hard Work, Research
Mr Lynch : 'To make money, you must find something that nobody else knows, or do something that others won't do because they have rigid mindsets.'
Mr Lynch is the legendery Fidelity Magelian Fund manager.

His techniques : Lots of research. Besides his basic talent, Lynch's edge was simply his enormous dedication. He visited 40 to 50 companies a month. During lunch, he was always talking to a company. And he read the numerous reports that landed on his desk every day.

He emphasised the value of personal knowledge, which can be as simple as noticing that a company provides a superior product or service.

Lynch's second advantage was his flexibility. He was not confined to any particular sector, any particular investment style or any particular geographical location. Bought into funeral homes, motels, auto parts suppliers, insurnace companies, airlines.

Asking the competition
One of Lynch's preferred devices is to ask the companies he was interviewing about their rivals. The other steel companies he interviewed prasied Nucor. Lynch looked into it and bought the stock.

Insider buying
Lynch carefully watched when corporate insiders bought their own stocks. An insider, he noted, might sell his company's stocks for many reasons. But they have only one reason to buy : to make money.

Growth
For lynch, growth is a cardinal virtue in a company, and growth stocks are the largest single category in his portfolio.

hitting it big - while the key objective o the investor should be to avoid a major loss, the occassional huge winner will offset a number of small losses.

One of the worst traps is to buy exciting companies that do not have earnings. These are the 'sizzle, not the steak'.

13. The Big Question Behind NTA
When bugying stocks at a discount to NTA, it's important to assess what the firm's NTA consists of, that it's not over-stated, and that there are no contingent claims on the assets.

A company's NTA is its total assets minus intangible assets adn total liabilities. Technically, it's what would be left over for shareholders if the firm were to sell all its tangible assets at the prices recorded in its books and repay all its debts.

see NatSteel example.
see ipco example.

The intangible assets
The worth of a rofitable firm with a strong business model is not just the historical value of its assets.
One has to factor in the value it is able to generate as a going conern. Much of this value comes from intangible assets.

To recap, if you want to buy shares that trade below their NTA, be sure to assess what the NTA consists of and that it is not over-stated. Also, ascertain that there are no conintgent claims on the assets. Usually, counters that trade below their NTA are loss-makers or have unexciting prospects. Buy such stocks only if you think there is a possibility of a restructuring exercise that will realise the true NTA value.


14. Discounts to NTA : Not Quite A Sure-Win
56% of SGX companies are trading below their NTA, But this need not mean you get more value if you buy them.


26. Chartered Rights: The Facts And Myths

27. Some Stock Trading tips, But Only As A Guide
28. Does It Pay To Stick To Analysts' Call
29. How The Game Of Hot Stock Tips Is Played
30. Forget 2002, Live Life A Tad More In 2003

Youtube - Corrupt Banking System

There is a interesting series in www.youtube.com under the title "Corrupt Banking System". It gives a different perspectives of the money system that we have created.

US Presidential Election 2008

I was reading a thread in www.sgfunds.com forum, and someone mentioned about this guy, Ron Paul running for US Presidential Election 2008. I have not heard of him.

But upon visiting www.youtube.com, and searching under his name "Ron Paul", I find his speech amazing. He is very sincere and knowledgable, and speaks from his heart. Very refreshing. Hope he can give the rest of the candidates a fight for their money.

NCC - service for the month Feb

03/02 - Cam 2, 3rd session

Purchase of SGS T-Bills ( TB-080131-0011 )

My eleventh purchase of SGS T-Bills

The bid done for today is for the auction next week :
Issue Code - BQ08104S
Issue Date - 31 Jan 2008
Tenor - 91 days
Maturity Date - 31 April 2008

a 10% downpayment was made ( = $100.00 ) which will be refunded when the transaction is performed next week.

I made a bid of S$1000.00

The yield will be known next week through the auction result.
yield = 1.43%
total paid = $996.40
gain = $3.60

Maybank Saving Rates

From PanzerGrenadier's Fixed Deposit blog -
Maybank: One of the best Savings Accounts rates in Singapore!

Maybank rates

5 cents,10 cents - new fixed deposit blog

PanzerGrenadier new blog -
Fixed Deposits

Live Feed of revamped STI

Revamped STI can be obtained from the following sources :

- http://www.investasiaonline.com/
- http://www.sgx.com/
- http://www.shareinvestor.com/
- http://www.listedcompany.com/
- Btstocks.asiaone.com

Purchase of SGS T-Bills ( TB-080124-0010 )

My tenth purchase of SGS T-Bills

The bid done for today is for the auction next week :

Issue Code - BQ08103Z
Issue Date - 24 Jan 2008
Tenor - 91 days
Maturity Date - 24 April 2008

a 10% downpayment was made ( = $100.00 ) which will be refunded when the transaction is performed next week.

I made a bid of S$1000.00

The yield will be known next week through the auction result.
yield = 1.59%
total paid = $996.04
gain = $3.96

Home - Bills for Jan 08

Bills for the month of Jan 08

1. Singtel residential phone fixed line - $25.00
2. SP Services - $24.47
3. S&CC - $37.50
4. SCV - no subscription yet.
5. Broadband - $70.55
6. Property Tax - no need due to rebates.
7. TV licence - $110 per year ( paid for 2008 )

black - not paid,
blue - paid

updated on 17 jan 08
updated on 9 Feb 08 ( SP services )

Home - AXS for SnCC

Today I paid for my SnCC at an AXS station.
First,
1. choose Bills,
2. click on the tab for Town Council,
3. choose the relevant town council...
and just follow on screen to pay the stated amount...

Finance Learning - Show Me The Money Volume I - part 1

From Show Me the Money I by Teh Hooi Ling

1. How to Exit The Rat Race Early
invest... invest...and let your hard-earned money grow...

2. Before You Invest Your Money

3. Time To Pile Into Stocks Now?
4. Time To Overcome Your Greed and Fear
5. It's All About Timing, Believe It OR Not
Equity risk premium - the compensation investors require for holding stocks.

using historical data, the equity risk premium by taking inverse of market price earnings ratio - or earnings yield - minus the risk-free rate.

Market PE ratios were obtaned from Thomson Financial Datastream and one-year deposit rates were taken as risk-free rates.

Every time the risk premium measured in basis points - hit 350, it was an indication of under-valuation of equities. On the other hand, a drop to about 60 points suggested that the market was over-valued.

without data from thomson financial datastream,
All one has to do is tally up the most recent year earnings of the 45 companies which made up the Straits Times Index(STI). Also add up their market capitalisation. Dividing the combined market cap of STI index stocks with the combined earnings will give you the average PER for STI.
Taking the inverse of the PER and deducting the one-year fixed deposit rate will give you the estimate of equity risk premium.
The combined net profits figure would stay pretty constant for much of the year. The one-year fixed deposit rates, too, move infrequently. Market cap, however, will fluctuate every day as the stock prices of the index stocks move up and down.

6. How to Detect Lower Earnings Quality
The acconting discretion granted to managers is potentially valuable, because it allows them to reflect inside information in reported financial statements. However, since investors view profits as a measure of managers' performance, managers have an incentive to use their accounting discretin to distort reported profits by making biased assumptions.
In other words, mangers can use accounting flexibility to either communicate their firm's economic situation or hide its true performance.

While asset allocation will determine a large part of the variability of a portfolio's returns, stock selection can and do enhance the portfolio's performance. And there is no short cut to that extra returns. Understanding a company's industry characteristics, its own competitivie strategy to ascertain its key success factors and risks is a major part. To gain that understanding, you have to gather information from various sources, chief among them the company's annucal reports.

some common red flags are:
- unexplained changes in accounting, especially when performance is poor.
- a disproportionate increase in accounts receivables in relation to sales increase.
- a growing gap between a company's reported earnings and its cash flow from operating activities.
- unusual increases in inventories vis-a-vis sales increases.
- unexpected large asset write-offs.
- large fourth-quarter adjustments.

Other helpful hints to detecting earnings quality declines are:
- inclusion of profits from past periods in the current period, such as a reversal of a reserve.
- under-provision of future expenses associated with current sales, such as bad debts, warranty obligations, etc;
- increasing reliance of earnings sources not central to the company's principal business activity and strategy.

market generally value growth stocks at a higher multiple to earnings.


7. Looking For Red Flags In Accounts
One of the most common red flags investors should look for is a growing gap between a company's reported earnings and its cash flow from operating activities.

Cash flow from operations, or CFO, is the actual cash generated by the business that will be used to pay interest on bank loans, or repay principal and to finace new investment. It excludes depreciation charges of assets - an accounting number. That's why it is usually higher than the net earnings figures.
Obviously, you want cash flow to be higher than net earnings, as it is a measure of a company's ability to self-finance. There usually is a steady relationship between the two if the company's accounting policies remain the same.
A growing gap may suggest aggressive recognition of revenuse which has not materialised into cash for the company.
Another red flag that analysts look out for is a disproportionate increase in accounts receivables in relation to sales increase. This may suggest that the company is relaxing its credit policies or stuffing iits distribution channels to recordd revenues in the current period.
If credit policies are relaxed unduly, the firm may face receivable write-offs going forward as a result of customer defaults.
Another tell-tale sign of unsustainability of earnings growth is when net earnings is expanding at a much faster rate than sales.
see charts.

8.How To Read The signals That Companies Give Out
Meanwhile, new plants must be built to make the new product, so capital must be raised. The company can borrow the money or it can sell new shares to raise the funds.
If it issues more new shares, then the claim of existing shareholders(including the management) on the future earnings of the company will be diluted. In other words, future explosive earnings from the new product will have to be shared with the new shareholders.
And with more shares in the market, the company's stock price will not appreciate as much as it would have if the management had not issued any new shares when the share price was much lower.

if company has good prospects, it will not issue more new shares, as the earnings of the company will be diluted. Therefore, one would expect a firm with very favourable prospects to try to avoid selling stock but to raise any requied new capital by other means including debt. With debts, the company needs only to meet the fixed obligation of interest payments. Any excess returns from the investments will accrue entirely to the shareholders.

A firm with unfavourable prospects would want to sell stock, which would mean bringing in new investors to cushion existing investors against future adverse developments.


So, in short, the announcement of a stock offering is generally taken as a signal that the company's prospects as seen by its management are not bright. Consequently, when a company announces a new stock offering, more often than not, the price of its stock will decline.

Investors here generally prefer debt-free companies. But as can be seen above, the announcement of a debt issue can signal better things to come.

Furthermore, debt is a cheaper form of capital than equity. This stems from the fact that interest expense on debt is tax-deductible.

debt provides a leverage effect that can significantly boost a company's earnings in good times. ( affects EPS )
debt can be a double-edged sword with the leverage effect going the other way. ( see e.g. in book, page 35 )

9. Lessons in Buffet's Focus Investing
Academics define risk as price volatility, and to counter that risk, they recommend holding a diversified portfolio.

But to Mr Buffet, risk is the intrinsic value risk of a business, not the price behaviour of its stock. And intrinsic value risk, he says, coms from misjudgement of a company's prospects.

You should have the courage and conviction to put at least 10 per cent of your net worth into each investment you make, he says.

In other words, by pruposely focusing on just a few select companies, you are better able to study them closely and understand their intrinsic value. And the more knowledge you have about a company, the less risk your are likely to be taking.

Such focus investing can, no doubt, only be employed by those who have absolute conviction of their analysis - and the fortitude to hold steady during any short-term market gyrations.
"Diversification serves as protection against ignorance'. It's a good strategy for a know-nothing investor, but the price is an average return.

4 primary factors to ascertain the probability of achieving a return on one's investment
1. The certainty with which the long-term economic characteristics of a business can be evaluated.
- is the business simple and understandable;
- does it have a consistent operating history;
- does it have a favourable long-term prospects.
2. The certainty with which fmanagement can be evaluated, in terms of its ability to realise the full potential of its business and wisely employ the cash flows
- is management rational?
- is it candid with shareholders?
- does it resist the institutional imperative?
3.The certainty with which management can be counted on to channel the rewards from the business to the shareholders rather than to itself
- focus on return on equity, not earnings per share;
- look for companies with high profit margins;
- for every dollar retained, make sure a company has created at least one dollar market value.

In terms of valuation, investors should do some homework to arrive at the value of the business and ask if the business can be pruchased at a significant discount to its value.

Followers of Mr Buffet must be willing to make big bets when they encounter a strong opportunity or a high probability event. And they must be patient. Mr Buffet thinks that risk is inextricably linked to an investor's time horizon. One mustn't panic over price changes. The volatility of one's portfolio is a necessary by-product of focus investing. To be a Buffett follower, you have to steel yourself against bumps and not act rashly in response to the vagaries of the market. Mr Buffet views price weakness as an opportunity to buy more of a godd company.

10. Crucial To Hold A diversified Portfolio.
Two types of risks. One is the non-systematic risk, or risk which is unique to each individual company. The second riks is systematic risk. The market only rewards systematic risk. Non-systematic or unique risks are not rewarded because they can be diversified away.

Diversification - in the same fashion that insurnace companies diversify risks by writing a large number of policies, investors can diversify risks by holding a large number of securities.

stocks with low correlation to STI are Want Want, Delgro, hong Kong Land, SembCorp Marine, Dairy Farm and Keppel Corp.

Financial Terms - Fiscal Policy

What does it means...
Government spending policies that influence macroeconomic conditions. These policies affect tax rates, interest rates and government spending, in an effort to control the economy.

What investopedia says...

Since the 1980s, most western countries have held a "tight" policy, limiting public expenditure.

Details here.

What is Fiscal Policy?
Trying to predict Interest Rates.

Home - Sound Theatre System

Today, I bought a sound system for my TV. Actually it is a karaoke system. The brand is Electro Voice. Its website is here. It is a US brand. It is trying to penetrate into the Asia market. Its USA homepage is here. This system is also known as the Lotus package.

I bought it from Audio House @ Clarke Quay.

Specifications for Lotus Package.
- ES225A Amplifier
- 150W x 2 @ 8 ohms
- 250W x 2 @ 4 ohms
- KL-803 speakers
- 8 inch speaker

Purchase of SGS T-Bills ( TB-080117-0009 )

My ninth purchase of SGS T-Bills

The bid done for today is for the auction next week :
Issue Code - BQ08102F
Issue Date - 17 Jan 2008
Tenor - 91 days
Maturity Date - 17 April 2008

a 10% downpayment was made ( = $100.00 ) which will be refunded when the transaction is performed next week.

I made a bid of S$1000.00

The yield will be known next week through the auction result.
yield = 1.55%
total paid = $996.14
gain = $3.86

Financial Terms - Reverse TakeOver

What does it means...
A type of merger used by private companies to become publicly traded without resorting to an initial public offering. Initially, the private company buys enough shares to control a publicly traded company. At this point, the private company's shareholder uses their shares in the private company to exchange for shares in the public company. At this point, the private company has effectively become a publicly traded one.

A reverse takeover can also refer to situation where a smaller company acquires a larger company.

What investopedia says...
With this type of merger, the private company does not need to pay the expensive fees associated with arranging an initial public offering. The problem, however, is the company does not acquired any additional funds through the merger and it must have enough funds to complete the transaction on its own.

Details here.

The Whacky World of M&As.
The Basics of M&As.
Why do companies merge with or acquire other companies?

IPO - OCK

Applied for IPO :
IPO price : $0.20
Shares applied : 3,000
Total cost : $600

Updated on "15 feb 08" -
Cost Returned : $400
Shares Allocated : 1000
Cost : $200

Oilpods Investment

I received my 5th monthly income from my ownership of the Brookshire Salt Dome project= $108.75

Brookshire Salt Dome project monthly income breakdown
Sept 07 = $114.49
Oct 07 = $110.89
Nov 07 = $108.84
Dec 07 = $108.38
Jan 08 = $108.75

Total Sum to date = $551.35

Total Holding Yield = 551.35/ 15,210 = 3.62%

FCFD - NZ

Today I deposit into a foreign currency fixed deposit. Details as follows :

Currency : New Zealand Dollar
Value Date : 9 Jan 2008
Tenure : 12 months
Amount : NZ$ 5,000
Conversion rate : 1.116
Amount : S$ 5,580
Interest : NZ$372.10

Due Date : 9 Jan 2009

Financial Terms - Goodwill

What does it means...
An account that can be found in the assets portion of a company's balance sheet. Goodwill can often arise when one company is purchased by another company. In an acquisition, the amount paid for the company over book value usually accounts for the target firm's intangible assets.

What investopedia says...
Goodwill is seen as an intangible asset on the balance sheet because it is not a physical asset such as buildings and equipment. Goodwill typically reflects the value of intangible assets such as a strong brand name, good customer relations, good employee relations and any patents or proprietary technology.

Details here.

goodwill = intangible assets
Can you count on goodwill?
New Accounting Rules Could Roil The Markets

wikipedia goodwill definition here.
The acquiring company must recognize goodwill as an asset on its financial statements and present it as a separate line item on the balance sheet, according to the current purchase accounting method.

Instead of deducting the value of goodwill annually over a period of maximal 40 years, companies are now required to value fair value of the reporting units, using present value of future cash flow, and compare it to their carrying value (booked value of assets plus goodwill minus liabilities.) If the fair value is less than carrying value (impaired), the goodwill value needs to be reduced so the fair value is equal to carrying value. The impairment loss is reported as a separate line item on the income statement, and new adjusted value of goodwill is reported in the balance sheet.

carrying value = what is recorded
fair value = market value

If a company management team is constantly writing down goodwill, it is giving off a telltale signal that management has made poor decisions. Investors may want to rethink the investment.

It is worth the effort to examine goodwill. The account is located on the balance sheet, but more often than not it is lumped together with other assets and disclosed in the footnotes at the end of the financial statements. Once identified, it should be handled with care, and the sources of its value scrutinized.

FAS 142 eliminates amortization and institutes an annual impairment test.

Purchase of SGS T-Bills ( TB-080110-0008 )

My eighth purchase of SGS T-Bills

The bid done for today is for the auction next week :
Issue Code - BQ08101E
Issue Date - 10 Jan 2008
Tenor - 91 days
Maturity Date - 10 April 2008

a 10% downpayment was made ( = $100.00 ) which will be refunded when the transaction is performed next week.

I made a bid of S$1000.00

The yield will be known next week through the auction result.
yield = 1.80%
total paid = $995.51
gain = $4.49

Home - GIRO 4 SCC

Today, I submitted the GIRO applicaton for my SCC . The application will take about 2 months. I will only stop paying through cash or AXS station when I received confirmation.

09 Jan 2008, I received a letter from Town Council about receiving my GIRO application.

Home - Light Bulbs

I bought another set of 3 daylight light bulbs. Brand is OSRAM, 60W mini-twister. Each costing around $5.50. I put the 3 bulbs in the living room middle celing light. That will give me another set of 3 of daylight bulbs of 40W each from philips as spare.