Ador, You Will Be Missed
I had the great opportunity to meet and see Ador in action many times over the past few years. I am thankful that together with Leslie Loh, we at least managed to get The Solianos together to record the first ever album, which I feel strongly is a brilliant testament of the contribution of The Solianos (including Alfonso) to the culture and growth of modern Malaysian music since 1950s.
Solianos band member and saxophonist Salvador Guerzo dies
KUALA LUMPUR: Saxophonist and music arranger Salvador Guerzo, 70, a member of Malaysia’s renowned band the Solianos, died this morning at his family's residence in Langkawi.
Guerzo is the son-in-law of jazz legend Alfonso Soliano, who founded the Radio Televisyen Malaysia (RTM) Orchestra.
Jazz singer Michelle Nunis, Guerzo’s daughter-in-law, described him as a professional who was easy to work with.
“He was down-to-earth and passionate about music. A perfectionist, he believed that musicians should always give fans a great show,” she said.
Fredo Villenguez, Guerzo’s cousin and lead vocalist of Fredo And The Flintstones, described the saxophonist as his ‘sifu’.
“He taught me all about musical arrangements. I would not have made it as a performer without his immense knowledge and great musicianship,” he said.
Musician Jeremy Monteiro described Guerzo as a prominent figure in the jazz scene whose passing was a deep loss to Southeast Asia.
"I am very grateful that I managed to tell him how much I respected and admired him,” Monteiro said in his Facebook condolence message to Guerzo’s family.
Guerzo had performed with Soliano siblings Isabella, Coni, Tristano, Rizal, Valentino and Irene as a band from 1979 in major hotels besides the Royal Selangor Club in Kuala Lumpur.
The family band also performed in Langkawi’s resort hotels and Kuala Lumpur nightspots such as No Black Tie. It was occasionally joined by Guerzo’s daughter, jazz pianist Rachel, and his niece Trish D’Cruz.
Guerzo had often accompanied Rachel’s showcases, most notably her 2010 performance at Dewan Filharmonik Petronas (DFP).
Another of Guerzo’s eight children, Dianne, was the lead singer of pop group Freedom.
Dianne and D’Cruz participated in reality talent show Malaysian Idol 2 in 2005 and D’Cruz made it to the Top 12.
In 2010, Guerzo and the Solianos unveiled their debut Malay album Pusaka at Bentley Music Auditorium, Mutiara Damansara, Petaling Jaya.
Pusaka encapsulated the group's brilliant musicianship and was dedicated to Alfonso.
Guerzo as the arranger gave these songs a more current sound.
The 14 tracks included Alfonso's original works such as Gadis Idamanku and Airmata Berderai, Broery Marantika’s Widuri, Freedom’s Mulanya Di Sini, Tan Sri P Ramlee’s Getaran Jiwa and Tan Sri Ahmad Merican’s Tanah Pusaka.
Jazz singer Michelle Nunis, Guerzo’s daughter-in-law, described him as a professional who was easy to work with.
“He was down-to-earth and passionate about music. A perfectionist, he believed that musicians should always give fans a great show,” she said.
Fredo Villenguez, Guerzo’s cousin and lead vocalist of Fredo And The Flintstones, described the saxophonist as his ‘sifu’.
“He taught me all about musical arrangements. I would not have made it as a performer without his immense knowledge and great musicianship,” he said.
Musician Jeremy Monteiro described Guerzo as a prominent figure in the jazz scene whose passing was a deep loss to Southeast Asia.
"I am very grateful that I managed to tell him how much I respected and admired him,” Monteiro said in his Facebook condolence message to Guerzo’s family.
Guerzo had performed with Soliano siblings Isabella, Coni, Tristano, Rizal, Valentino and Irene as a band from 1979 in major hotels besides the Royal Selangor Club in Kuala Lumpur.
The family band also performed in Langkawi’s resort hotels and Kuala Lumpur nightspots such as No Black Tie. It was occasionally joined by Guerzo’s daughter, jazz pianist Rachel, and his niece Trish D’Cruz.
Guerzo had often accompanied Rachel’s showcases, most notably her 2010 performance at Dewan Filharmonik Petronas (DFP).
Another of Guerzo’s eight children, Dianne, was the lead singer of pop group Freedom.
Dianne and D’Cruz participated in reality talent show Malaysian Idol 2 in 2005 and D’Cruz made it to the Top 12.
In 2010, Guerzo and the Solianos unveiled their debut Malay album Pusaka at Bentley Music Auditorium, Mutiara Damansara, Petaling Jaya.
Pusaka encapsulated the group's brilliant musicianship and was dedicated to Alfonso.
Guerzo as the arranger gave these songs a more current sound.
The 14 tracks included Alfonso's original works such as Gadis Idamanku and Airmata Berderai, Broery Marantika’s Widuri, Freedom’s Mulanya Di Sini, Tan Sri P Ramlee’s Getaran Jiwa and Tan Sri Ahmad Merican’s Tanah Pusaka.
Read more: Solianos band member and saxophonist Salvador Guerzo dies - Latest - New Straits Times http://www.nst.com.my/latest/solianos-band-member-and-saxophonist-salvador-guerzo-dies-1.39814#ixzz1l3WaHCvy
Guess Who Will Be Moving Up The Richest List Fastest This Year
The snippet below was taken from Forbes magazine:
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Its very hard to move up the top ten richest list in Malaysia as the gap from one to the other is in the billions. Supposedly, Vincent Tan is #9 with $1.25bn (RM3.75bn). There is a very strong likelihood that Vincent Tan will move up at least two rungs this year. At #8 is Syed Mokhtar with $2.5bn while at #7 is Yeoh Tiong Lay with $2.7bn. Dislodging #6 will be difficult as Teh Hiong Piow has $4.7bn.
Chances are high that Vincent will get to #7 at least this year because his stake in Friendster was swapped totally into Facebook shares. Rough estimates has figured his stake in Facebook at 1%. Facebook is about to list soon at a valuation of at least $90bn, and should get to $120bn-$130bn when it finally trades (if market does not collapse). His stake alone will add at least $1bn to his total.
The other major play is his stake in Cosway, which is rumoured to be sold soon for around RM2bn. Then there is the realisation of his stake in U Mobile, which may be listed as well this year. All said, Vincent may add $1.5bn-$1.8bn (RM4.5-RM5.4bn) to his net worth this year.
How has 2012 been for you so far?
Malaysia's Richest
#9 Vincent Tan
| Net Worth | $1.25 billion | Source of Wealth | diversified |
|---|---|---|---|
| Age | 58 | Marital Status | Married, 11 children |
Self-made entrepreneur runs conglomerate Berjaya Group, but fortune sank by almost a quarter over the past year as shares stumbled. Owns social networking website Friendster.com and bought shares of Facebook through his Internet company, MOL.com. Failed to get a sports betting license from the government. Hates golf but loves scuba diving and working out at the gym.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Its very hard to move up the top ten richest list in Malaysia as the gap from one to the other is in the billions. Supposedly, Vincent Tan is #9 with $1.25bn (RM3.75bn). There is a very strong likelihood that Vincent Tan will move up at least two rungs this year. At #8 is Syed Mokhtar with $2.5bn while at #7 is Yeoh Tiong Lay with $2.7bn. Dislodging #6 will be difficult as Teh Hiong Piow has $4.7bn.
Chances are high that Vincent will get to #7 at least this year because his stake in Friendster was swapped totally into Facebook shares. Rough estimates has figured his stake in Facebook at 1%. Facebook is about to list soon at a valuation of at least $90bn, and should get to $120bn-$130bn when it finally trades (if market does not collapse). His stake alone will add at least $1bn to his total.
The other major play is his stake in Cosway, which is rumoured to be sold soon for around RM2bn. Then there is the realisation of his stake in U Mobile, which may be listed as well this year. All said, Vincent may add $1.5bn-$1.8bn (RM4.5-RM5.4bn) to his net worth this year.
How has 2012 been for you so far?
The Longest Flight Home
Sometimes all you want is your own bed in your own house, especially towards the end of a hurried and stressful business trip. I certainly felt like that as I sat in a dull lounge at Los Angeles airport waiting for them to announce the flight back to London and home.
This trip had come fast after a previous one to Sao Paulo and it had not been long ago that I had been insane enough to fly from London to Australia for a day meeting then back. My body did not know where it was and my stomach didn’t know what it wanted. Certainly not the pretzels I was absently chewing, hastened downwards by a vicious Bloody Mary.
Never mind, I thought as the call finally came, the flight would be long and I would soon be getting the sleep I craved for. To my joy they upgraded both me and a conference colleague at the gate into First Class with its flat bed seats and comfy pyjamas. This is going to be just great I thought as I walked into the dimly lit soothing cabin. I was given a glass of champagne and led to my wide and welcoming armchair.
Now I never have trouble sleeping on aircraft, never. As soon as the plane took off and reached altitude I flattened my seat, collected a few stray pillows and dived under the duvet I had found in the overhead locker. My seat was cosily positioned, on its own, at the front of the plane.
Having announced to the nearest cabin crew that I did not want drinks, dinner or any other kind of service until breakfast I donned my eye shades,slid down the seat and fell into an immediate and beautiful dreamless sleep. What seemed like only a few seconds later a great big soft something crashed on top of me. I thought I was being suffocated by a giant marshmallow until I lifted my shades enough to see that the crew had dropped the rest of the duvets on top of me.
After receiving profuse apologies I drifted off once more and this lasted about ten minutes before I woke feeling a tentative hand pressing gently but persistently on my arm. I must have jerked upright suddenly because reeling back in front of me was a scared looking steward. He was talking but I heard nothing as the engines were roaring and I had taken out my hearing aids to sleep. Just a moment I grumbled as I groped around the seat in a semi stupor searching for them. They had disapeared.
Eventually my errant aids were retrieved by using to biros from where they had lost themselves in the mechanical interior of the seat and I put them on. “Yes” I said? “Tell me sir, will you be dining with us this evening” he asked with a beguiling innocent grin. “No I bloody will not” I grunted as I tried to wrestle back my duvet that had dispersed itself while I had searched for my aids.
I was getting even more tired and emotional but thankfully I managed to drift off again. Then the screeching started. Then it stopped. Then it started again. Was I dreaming? No, too loud for that. What the hell was it? I had forgotten to take my damn hearing aids back out and every time I rolled over the compression had made them screech. Only if you wear such aids do you know how unpleasant and wakeful that sound is.
Over the next hour or so I cat napped. I thought I had been clever getting seat 1A but the reverse was true. On this 747 seat 1A is right next to a big cupboard/hanging wardrobe and this one had a sticky door. Every time anyone wanted something from there they had to yank the door which made a sharp snapping sound. Then they would rummage around like noisy mice!
By this time I was past sleeping. Desperately tired yes, able to sleep? Definitely not. I tried everything. Lying this way, lying that way, on my back, the good old foetal position, but no luck. What really annoyed me was by this time everyone else had eaten their meals and gone to sleep. I was probably the only person awake and the crew had done their amazing disapearing act they always do on night flights.
There was the sound of snoring coming from all over the cabin, especially from the small frail old lady in the seat behind. I became fascinated by her as she had a great snoring action. She was as white as a corpse and her head was thrown back. Rather like the sound of a wave rushing into shore her mouth would open and then, when it could go no further the snore would come belowing out like a great breaker. The vibrations caused her false teeth to rattle around in her mouth. Fascinating stuff if you are that desperate!
How I envied them all. I was more exhausted than the lot of them combined but my brain refused point blank to shut down. In the end I gave up trying and decided to pick a boring old film from the I.F.E. system and see if that would help me sleep. It usually works at home, I thought to myself. I selected ‘Sleepless in Seattle’ as that seemed to describe the scene pretty well.
It did not work. I got into it instead. There I was, a grown man blubbing like a child as Tom Hanks and Meg Ryan (I think) came together. I must have looked a sad sight as an air hostess, who appeared from nowhere, must have seen me and brought over a cup of tea and a box of Kleenex tissues. Not my biggest alpha male moment and not conducive to sleep either.
By this time the flight was half over and any sleep I had snatched was not the restful type. However all that changed when the guy I was at the conference with woke up to use the wash room. “Can’t sleep”? he asked as he stretched luxuriantly. “No” I grunted. “Try these tablets, they are great” he said passing me a blister pack of pills. “Take a couple if you think you need them” he suggested. Now I do not usually take any kind of pills but I swallowed two of them out of desperation. They were high dosage Temazepam.
I fell into an immediate and spectacularly deep sleep for a very long time. In fact it was longer than the flight. Nobody could wake me. The crew tried, even the captain had a go. The old lady poked me with her knitting needle and someone tried cold water but nothing would revive me. They needed to land the aircraft but they had to do something with me first. In the end they put my seat upright and let me hang in it, bent double by the seat belt.
I was still in my drugged sleep after the plane landed and everyone else had disembarked. Eventually they got enough life out of me to manhandled me off the plane I still had my airline pyjamas on as nobody was prepared to change me! They left me in a plastic seat by the jetty along with my clothes on a hanger where I slept another two hours. At least one other plane load of passengers disembarked at that gate and walked past I heard one say “he must be drunk, disgraceful”!
I finally struggled awake, grabbed my things and ran to a toilet still dressed in my grey 'sleep suit'. Somehow I got myself to my car where I slept for another hour until I was awake enough to drive home. I got home and went to bed.
And then? I couldn’t sleep!
This trip had come fast after a previous one to Sao Paulo and it had not been long ago that I had been insane enough to fly from London to Australia for a day meeting then back. My body did not know where it was and my stomach didn’t know what it wanted. Certainly not the pretzels I was absently chewing, hastened downwards by a vicious Bloody Mary.
Never mind, I thought as the call finally came, the flight would be long and I would soon be getting the sleep I craved for. To my joy they upgraded both me and a conference colleague at the gate into First Class with its flat bed seats and comfy pyjamas. This is going to be just great I thought as I walked into the dimly lit soothing cabin. I was given a glass of champagne and led to my wide and welcoming armchair.
Now I never have trouble sleeping on aircraft, never. As soon as the plane took off and reached altitude I flattened my seat, collected a few stray pillows and dived under the duvet I had found in the overhead locker. My seat was cosily positioned, on its own, at the front of the plane.
Having announced to the nearest cabin crew that I did not want drinks, dinner or any other kind of service until breakfast I donned my eye shades,slid down the seat and fell into an immediate and beautiful dreamless sleep. What seemed like only a few seconds later a great big soft something crashed on top of me. I thought I was being suffocated by a giant marshmallow until I lifted my shades enough to see that the crew had dropped the rest of the duvets on top of me.
After receiving profuse apologies I drifted off once more and this lasted about ten minutes before I woke feeling a tentative hand pressing gently but persistently on my arm. I must have jerked upright suddenly because reeling back in front of me was a scared looking steward. He was talking but I heard nothing as the engines were roaring and I had taken out my hearing aids to sleep. Just a moment I grumbled as I groped around the seat in a semi stupor searching for them. They had disapeared.
Eventually my errant aids were retrieved by using to biros from where they had lost themselves in the mechanical interior of the seat and I put them on. “Yes” I said? “Tell me sir, will you be dining with us this evening” he asked with a beguiling innocent grin. “No I bloody will not” I grunted as I tried to wrestle back my duvet that had dispersed itself while I had searched for my aids.
I was getting even more tired and emotional but thankfully I managed to drift off again. Then the screeching started. Then it stopped. Then it started again. Was I dreaming? No, too loud for that. What the hell was it? I had forgotten to take my damn hearing aids back out and every time I rolled over the compression had made them screech. Only if you wear such aids do you know how unpleasant and wakeful that sound is.
Over the next hour or so I cat napped. I thought I had been clever getting seat 1A but the reverse was true. On this 747 seat 1A is right next to a big cupboard/hanging wardrobe and this one had a sticky door. Every time anyone wanted something from there they had to yank the door which made a sharp snapping sound. Then they would rummage around like noisy mice!
By this time I was past sleeping. Desperately tired yes, able to sleep? Definitely not. I tried everything. Lying this way, lying that way, on my back, the good old foetal position, but no luck. What really annoyed me was by this time everyone else had eaten their meals and gone to sleep. I was probably the only person awake and the crew had done their amazing disapearing act they always do on night flights.
There was the sound of snoring coming from all over the cabin, especially from the small frail old lady in the seat behind. I became fascinated by her as she had a great snoring action. She was as white as a corpse and her head was thrown back. Rather like the sound of a wave rushing into shore her mouth would open and then, when it could go no further the snore would come belowing out like a great breaker. The vibrations caused her false teeth to rattle around in her mouth. Fascinating stuff if you are that desperate!
How I envied them all. I was more exhausted than the lot of them combined but my brain refused point blank to shut down. In the end I gave up trying and decided to pick a boring old film from the I.F.E. system and see if that would help me sleep. It usually works at home, I thought to myself. I selected ‘Sleepless in Seattle’ as that seemed to describe the scene pretty well.
It did not work. I got into it instead. There I was, a grown man blubbing like a child as Tom Hanks and Meg Ryan (I think) came together. I must have looked a sad sight as an air hostess, who appeared from nowhere, must have seen me and brought over a cup of tea and a box of Kleenex tissues. Not my biggest alpha male moment and not conducive to sleep either.
By this time the flight was half over and any sleep I had snatched was not the restful type. However all that changed when the guy I was at the conference with woke up to use the wash room. “Can’t sleep”? he asked as he stretched luxuriantly. “No” I grunted. “Try these tablets, they are great” he said passing me a blister pack of pills. “Take a couple if you think you need them” he suggested. Now I do not usually take any kind of pills but I swallowed two of them out of desperation. They were high dosage Temazepam.
I fell into an immediate and spectacularly deep sleep for a very long time. In fact it was longer than the flight. Nobody could wake me. The crew tried, even the captain had a go. The old lady poked me with her knitting needle and someone tried cold water but nothing would revive me. They needed to land the aircraft but they had to do something with me first. In the end they put my seat upright and let me hang in it, bent double by the seat belt.
I was still in my drugged sleep after the plane landed and everyone else had disembarked. Eventually they got enough life out of me to manhandled me off the plane I still had my airline pyjamas on as nobody was prepared to change me! They left me in a plastic seat by the jetty along with my clothes on a hanger where I slept another two hours. At least one other plane load of passengers disembarked at that gate and walked past I heard one say “he must be drunk, disgraceful”!
I finally struggled awake, grabbed my things and ran to a toilet still dressed in my grey 'sleep suit'. Somehow I got myself to my car where I slept for another hour until I was awake enough to drive home. I got home and went to bed.
And then? I couldn’t sleep!
Then Why Have The SC Task Force In The First Place?
Well, we probably won't see this kind of business reporting in local media, so have to rely on The Straits Times Singapore.
SC task force found Sime Darby triggered E&O general offer
By Yow Hong Chieh
January 30, 2012
KUALA LUMPUR, Jan 30 — A Securities Commission (SC) task force found that Sime Darby Bhd was obliged to make a general offer for Eastern & Oriental (E&O) Bhd shares after acquiring a 30 per cent stake in the property developer but was superseded by the regulator’s top ruling authority.
Singapore’s The Straits Times reported that the task force was of the view that a general offer obligation had been triggered as a new “concert party” was created between Sime Darby and E&O managing director Datuk Terry Tham, who jointly controlled more than 33 per cent in the property concern after the deal.
Malaysia’s takeover rules stipulate that any party that acquires more than a 33 per cent interest in a publicly-listed entity must carry out a general offer for the remaining shares.
A general offer can also be triggered if a new party buys less than 33 per cent but secures management control of the target company.
But the SC’s final ruling three-member committee ruled “in a majority decision” there was no general offer obligation as Sime Darby and Tham were not acting in concert, according to an affidavit by the agency’s second-most senior commissioner Datuk Francis Tan, which was sighted by the Singapore daily.
The committee also accepted the task force’s recommendation that the three groups which sold the blocks of E&O shares to Sime Darby did not collectively control the company and that the disposal did not trigger a general offer.
Sime Darby purchased its controlling 30 per cent interest from three major shareholders — Tham, Singapore’s GK Goh Holdings and a group of investors led by businessman Tan Sri Wan Azmi Wan Hamzah — at the end of August last year in a deal that valued E&O shares at RM2.30 a piece.
The purchase price represented a 60 per cent premium over the value of the shares in the company on the open market when the deal was announced.
The RM776 million deal triggered unease over the widely perceived coddling by the agency of large state-controlled companies at the expense of minority shareholders when exercising its authority on corporate takeovers.
The SC ruled six weeks after Sime Darby’s purchase of the three blocks that the plantation-based conglomerate did not have to make a general offer, prompting E&O minority shareholder Michael Chow to sue the SC for failing to compel Sime Darby to make a general offer for the rest of the shares.
The legal suit could renew debate over the SC’s handling of alleged irregular trading activities and will put pressure on SC chairman Tan Sri Zarinah Anwar, whose husband, the E&O chairman, raised his personal stock holdings in the company just weeks before Sime Darby announced the acquisition.
The SC has also filed an application to recuse the judge hearing the suit as he used to be with the regulator.
Travelling with the Stars - Naomi Campbell
What with all the regular publicity about the lovely Naomi I thought I should award her an exclusive in my humble blog. Like they say in those wonderful cosmetic advertisement ‘She’s worth it’.
I have flown with Naomi three times and got hugged by her once. Not bad averages really, especially as she was in her pyjamas at the time. Let me explain.
The first two times I saw her were on Concorde (naturally). There I was sitting at the back of the cabin with one of the only two remaining empty seats next to me. The flight was clearly being delayed for someone and suddenly she was there. She glided through the door flowing along with tight pants and a sheer silk blouse that left zero to the imagination. You could have heard a pin drop as she sasheyed further towards me and I thought ‘oh my, she is going to sit next to me. At the very last moment she gave me what I then thought was a shy and coquettish smile and……walked straight past. Behind her was an enormous Texan with a gut like a zeppelin who levered himself into the seat next to me, smiling knowingly saying “I guess this ain’t your day son”.
I have to say though Ms Campbell was sensational in that she is one of not too many that looks far better live than she does on the cover of a glossy magazine. She also seemed to have a skill that turns tough international business travellers into fawning lap dogs. “Do let me get your bag off the carousel Ms Campbell”, Let me help you with that Ms Campbell” “Where are you staying in New York Ms. Campbell”. And that was only me. The other passengers were far worse! My last view of her on that occasion was seeing this vast luggage belt with all the male Concorde passengers plus Naomi jammed in one small area as they all vied to carry her Louis Vuitton overnight bag.
My last brush with Naomi was really weird. I was sitting in seat 1A on a flight to Sao Paulo and just before the doors closed I was asked if I would move back a seat to 2A. Reason given was they had a VIP boarding and she always insists on 1A so as not to be bothered by anyone. Being an amiable soul I agreed to move and on wafted the lovely Naomi once more and plonked herself in my ex seat. She then proceeded to talk simultaneously on two phones and a blackberry while we taxied to the runway. She was finally asked to stop by a rather wary air hostess as the engines revved for take-off.
Once in the air she was straight in the toilet and emerged about 20 minutes later dressed in a pair of those grey BA first class pyjamas and a face covered in cream. On any one else it would have appeared awful but on her she looked 1 million dollars. I guess that is why she is still one of the world’s top models. She would make a potato sack look classy.
She obviously planned to go straight to sleep and, as I had a flight load of work to do, I popped round to her side and asked if the light would bother her. She reacted as if I had poked her with a cattle prod by recoiling back, muttering something incoherent and looking the other way. Having faced that apparently hostile response I slunk back to my lonely seat and grappled out my PC and spent the next four hours preparing numerous emails about very little.
Suddenly something changed. I could see a dark grey shadow moving towards my small pool of light preceded by the smell of a heavenly and expensive perfume. It was Naomi. Next thing I had been grabbed and clutched to her bosom. Am I hallucinating I wondered? Should I have stopped at two brandies after dinner? But no, it really was Naomi Campbell suffocating me in a most original but not entirely unpleasant way. She finally released me and said huskily that I had been very nice to her earlier on and “thank you”. Wow I thought, maybe some sections of the media were wrong about her and she was a sweet thing really.
I drifted off to a perfumed sleep and woke on the final approach to Sao Paulo. What woke me were Naomi’s phones, all of them, and she was going ballistic at some poor soul on the other end of one of them. She was demanding to know where he was, who he was with and threatening to get the next plane home. This was before her flight in had even landed and none of the crew seemed inclined or brave enough to tell her to stop.
We got to the gate and set off for the baggage hall. By this time Naomi was screaming at people demanding her bags NOW so she could check in for the return flight. The fuss she created was so great that security was called and I beat a hasty retreat through customs.
The next morning I was having breakfast and listening to the news when her name came up again. The newsreader was saying how Naomi Campbell had collapsed apparently ill at Sao Paulo airport and was rushed to a Brazilian hospital to have an emergency cyst operation. So that is what it was all about I thought. Or was it? Life is never boring when flying with Naomi Campbell.
I have flown with Naomi three times and got hugged by her once. Not bad averages really, especially as she was in her pyjamas at the time. Let me explain.
The first two times I saw her were on Concorde (naturally). There I was sitting at the back of the cabin with one of the only two remaining empty seats next to me. The flight was clearly being delayed for someone and suddenly she was there. She glided through the door flowing along with tight pants and a sheer silk blouse that left zero to the imagination. You could have heard a pin drop as she sasheyed further towards me and I thought ‘oh my, she is going to sit next to me. At the very last moment she gave me what I then thought was a shy and coquettish smile and……walked straight past. Behind her was an enormous Texan with a gut like a zeppelin who levered himself into the seat next to me, smiling knowingly saying “I guess this ain’t your day son”.
I have to say though Ms Campbell was sensational in that she is one of not too many that looks far better live than she does on the cover of a glossy magazine. She also seemed to have a skill that turns tough international business travellers into fawning lap dogs. “Do let me get your bag off the carousel Ms Campbell”, Let me help you with that Ms Campbell” “Where are you staying in New York Ms. Campbell”. And that was only me. The other passengers were far worse! My last view of her on that occasion was seeing this vast luggage belt with all the male Concorde passengers plus Naomi jammed in one small area as they all vied to carry her Louis Vuitton overnight bag.
My last brush with Naomi was really weird. I was sitting in seat 1A on a flight to Sao Paulo and just before the doors closed I was asked if I would move back a seat to 2A. Reason given was they had a VIP boarding and she always insists on 1A so as not to be bothered by anyone. Being an amiable soul I agreed to move and on wafted the lovely Naomi once more and plonked herself in my ex seat. She then proceeded to talk simultaneously on two phones and a blackberry while we taxied to the runway. She was finally asked to stop by a rather wary air hostess as the engines revved for take-off.
Once in the air she was straight in the toilet and emerged about 20 minutes later dressed in a pair of those grey BA first class pyjamas and a face covered in cream. On any one else it would have appeared awful but on her she looked 1 million dollars. I guess that is why she is still one of the world’s top models. She would make a potato sack look classy.
She obviously planned to go straight to sleep and, as I had a flight load of work to do, I popped round to her side and asked if the light would bother her. She reacted as if I had poked her with a cattle prod by recoiling back, muttering something incoherent and looking the other way. Having faced that apparently hostile response I slunk back to my lonely seat and grappled out my PC and spent the next four hours preparing numerous emails about very little.
Suddenly something changed. I could see a dark grey shadow moving towards my small pool of light preceded by the smell of a heavenly and expensive perfume. It was Naomi. Next thing I had been grabbed and clutched to her bosom. Am I hallucinating I wondered? Should I have stopped at two brandies after dinner? But no, it really was Naomi Campbell suffocating me in a most original but not entirely unpleasant way. She finally released me and said huskily that I had been very nice to her earlier on and “thank you”. Wow I thought, maybe some sections of the media were wrong about her and she was a sweet thing really.
I drifted off to a perfumed sleep and woke on the final approach to Sao Paulo. What woke me were Naomi’s phones, all of them, and she was going ballistic at some poor soul on the other end of one of them. She was demanding to know where he was, who he was with and threatening to get the next plane home. This was before her flight in had even landed and none of the crew seemed inclined or brave enough to tell her to stop.
We got to the gate and set off for the baggage hall. By this time Naomi was screaming at people demanding her bags NOW so she could check in for the return flight. The fuss she created was so great that security was called and I beat a hasty retreat through customs.
The next morning I was having breakfast and listening to the news when her name came up again. The newsreader was saying how Naomi Campbell had collapsed apparently ill at Sao Paulo airport and was rushed to a Brazilian hospital to have an emergency cyst operation. So that is what it was all about I thought. Or was it? Life is never boring when flying with Naomi Campbell.
Smarter People Own More Stocks
Business Times - 26 Jan 2012
Smarter people own more stocks, says study
It finds a direct link between IQ and market participation
( NEW YORK ) The smarter you are, the more stock you probably own, according to researchers who say they found a direct link between IQ and equity market participation.
Intelligence, as measured by tests given to 158,044 Finnish soldiers over 19 years, outweighed income in determining whether someone owns shares and how many companies he invests in. Among draftees scoring highest on the exams, the rate of ownership later in life was 21 percentage points above those who tested lowest, researchers found. The study, published in last month's Journal of Finance, ignored bonds and other investments.
Economists have debated for decades what they call the participation puzzle, trying to explain why more people don't take advantage of the higher returns stocks have historically paid on savings. As few as 51 per cent of American households own them, a 2009 study by the Federal Reserve found. Individual investors have pulled record cash out of US equity mutual funds in the last five years as shares suffered the worst bear market since the 1930s.
'It's what we see anecdotally: higher-IQ investors tend to be more willing to commit financial resources, to put skin in the game,' said Jason Hsu, chief investment officer at Research Affiliates. 'You can generalise a whole literature on this. It seems to suggest that whatever attributes are driving people to not participate in the stock market are related to the cost of processing financial information.'
Mark Grinblatt of the University of California , Los Angeles , Matti Keloharju of Aalto University in Espoo and Helsinki , Finland , and Juhani Linnainmaa at the University of Chicago compared results from intelligence tests given by the Finnish military between 1982 and 2001 to government records showing investments the draftees later held. They found the rate of stock ownership for people with the lowest scores trailed those with the highest even after adjusting for wealth, income, age and profession.
While intelligence influenced things that might naturally increase equity ownership such as wealth and income, the authors said IQ determined who owned the most stocks within those categories as well. Among the 10 per cent of individuals with the highest salary, 'IQ significantly predicts participation' in the stock market, they wrote.
For example, people in the highest-income ranking who scored lowest on the test had a rate of equity market participation that was 15.7 percentage points lower than those with the highest IQ.
'If you look at the significance of IQ related to other factors like income or wealth, certainly it plays a very large role,' Mr Keloharju, a finance professor at Aalto, said. 'It's very difficult to get around that problem, but the results are so strong here. We are playing with lots of different controls and lots of different specifications, and all the time things work really well.'
American economist Harry Markowitz won a Nobel Prize in 1990 for his theory that owning a larger variety of assets tended to maximise returns for a certain amount of risk. The 2009 study by the Fed found that 51.1 per cent of American families own stocks directly or indirectly, and of those who do, 36 per cent have shares in one company.
'It's difficult to justify why someone wouldn't invest in the stock market, knowing what a good deal it has been,' said Mr Linnainmaa, a co-author of the study from the University of Chicago's Booth School of Business. 'The classical explanations for non-participation have been participation costs. It's not just that it may be expensive to buy stocks and mutual funds, but people may not have enough knowledge about them.'
Finnish soldiers were an ideal sample because differences in race, schooling and market access are minimised, the authors said. Draftees were about 20 years old when they were given 120 questions in math, language and logic. The authors divided the results into rankings and compared them with stock ownership records. People who don't serve in the country's military such as women weren't in the sample.
'There is an older literature on whether SAT scores of an investment manager's college helps predict his or her success,' Robert Shiller, an economics professor at Yale University and co-creator of the S&P/Case-Shiller home price index, said in an e-mail. 'This paper has a much better measure of intelligence,' and the 'results are therefore a significant advance', he wrote.
Finnish draftees aren't representative of typical investors, said Brian Jacobsen, chief portfolio strategist at Wells Fargo Advantage Funds. IQ is a function of culture and shouldn't be generalised across borders, he said. The authors also failed to discuss whether the test given to the soldiers was a valid way to grade thinking.
Finland's lack of ethnic diversity 'invalidates it for extrapolating it to other cultures', he said. 'That makes it that much more inappropriate to draw inferences from it about other cultures.'
The study's authors said the findings have implications for social policy. Avoiding stock investments cuts returns and may widen income gaps, they said. Individuals scoring lowest on the tests who still owned equities earned as much as 33 basis points, or 0.33 percentage point, a year less than the highest scorers. One way governments could promote better savings might be with plans that let people opt out of stocks, like 401(k) plans, as opposed to opting in, said Mr Keloharju.
'If you look at these people over time, people with higher IQ scores and stocks become wealthier and wealthier at a much faster rate than people with lower IQ scores,' said Mr Linnainmaa. 'It makes them worse off in the long run, even more so than the difference in income.'
Mr Hsu of Research Affiliates said an explanation for why draftees with lower test scores owned less stock is that they found it harder and more expensive to receive financial education. Getting people information on investing at a younger age may help limit the disparity, he said. -- Bloomberg
SC and The Upcoming Private Retirement Scheme
Managers can now apply for licences to provide products under Malaysia’s proposed private retirement scheme. The Securities Commission answers AsianInvestor's questions about how the system will work.
In December, Malaysia’s Securities Commission published eligibility requirements for asset managers to gain a product provider licence under the country’s long-awaited private retirement scheme (PRS).
Ranjit Ajit Singh, managing director at the Securities Commission (SC), here confirms and clarifies some key points for AsianInvestor.
A feature looking at the PRS in detail will appear in the upcoming February issue of AsianInvestor magazine.
AsianInvestor: What does the SC see as the main reasons to set up a voluntary private retirement scheme? Why would (and should) people use the scheme in addition to the existing Employees Pension Fund?
Ranjit Ajit Singh: A well supervised and regulated private retirement scheme (PRS) that facilitates greater accumulation of post-retirement savings can play an important role within the overall pension landscape.
Ranjit Ajit Singh: A well supervised and regulated private retirement scheme (PRS) that facilitates greater accumulation of post-retirement savings can play an important role within the overall pension landscape.
Malaysia’s PRS aims to promote the welfare of the population at retirement through a robust multi-pillar pension framework. The SC is reviewing the existing retirement landscape to make recommendations within the context of developing the private pension industry, which will complement the mandatory contribution to our existing Employees Provident Fund.
Can you summarise the main points of the PRS? For example, rules on contributions, tax allowances, plus the main guidelines/requirements for asset managers providing products.
Private retirement schemes (PRSs) are long-term retirement schemes that contain a range of funds and are offered by approved PRS providers. The PRS framework is intended to provide flexible and convenient fund options for use, by both employers and individuals with different risk-return profiles.
Contributors will be able to control their private pension accounts in terms of investment diversification, portability between providers and flexible payout options. In this respect, the right to choose and to change investment options, as well as providers, is an integral element of the PRS framework.
The tax incentives provide personal tax relief of up to RM3,000 ($967) per annum on individual contributions to approved PRS schemes, as well as tax deductions for employers for contributions above the statutory rate, up to 19% of employees’ salaries. Tax exemption will also be provided on income received by funds within the PRS schemes.
It has been said that the SC will particularly want to see large, experienced asset managers applying to be part of the PRS. Do you have any comment on that?
Only quality private-sector entities with the required expertise in pension fund management or retail fund management entities that meet the relevant standards and requirements imposed will be approved. Eligibility requirements include capital requirements, track record, conduct history and risk management controls.
Applicants will need to outline their business model, such as the proposed range of funds, indicative fees and the charges structure, as well as their resourcing capabilities, systems and process capabilities and member servicing.
Qualitative factors will also be taken into consideration, such as governance structure, reputation and professional standing, as well as track record and commitment to grow the PRS industry.
I understand that applications to obtain a licence to be a provider under the PRS must be in by February 15. What is the likely timeframe after that?
The closing date for licence applications is February 15. The evaluation and selection process will include an examination of the proposed range of funds to be offered by each applicant. On approval as a PRS provider, the SC would then undertake a separate process to approve the PRS itself and to authorise all the funds under the scheme.
The closing date for licence applications is February 15. The evaluation and selection process will include an examination of the proposed range of funds to be offered by each applicant. On approval as a PRS provider, the SC would then undertake a separate process to approve the PRS itself and to authorise all the funds under the scheme.
PRS providers would be required to offer dedicated retirement funds under the scheme. Other key steps towards full operation of the framework include approving the scheme trustees and the distribution framework to ensure professional conduct and suitability of recommendations made in respect of the PRS to members.
How many provider licences will be approved under the scheme?
That will depend on the applicants and those who meet the criteria. Our primary objective is to have qualified and experienced providers, and these can be institutional or retail as long as they meet the criteria and demonstrate the capabilities to offer PRSs.
That will depend on the applicants and those who meet the criteria. Our primary objective is to have qualified and experienced providers, and these can be institutional or retail as long as they meet the criteria and demonstrate the capabilities to offer PRSs.
The provider-eligibility guidelines are now largely final, but the investment guidelines are still to be finalised – what is still to be ironed out?
As part of the implementation process, sub-working groups have been formed and continuous engagement and consultations are being held with experts – local and foreign, government authorities and industry players. We will finalise the guidelines after this process is complete.
As part of the implementation process, sub-working groups have been formed and continuous engagement and consultations are being held with experts – local and foreign, government authorities and industry players. We will finalise the guidelines after this process is complete.
Does the PRS have to be set up as a trust structure?
The PRS will operate as a trust structure, with the scheme trustee having fiduciary duties towards the members, including ensuring that the assets of the funds are segregated from the PRS provider. The schemes will therefore be segregated from the fund provider to ensure that contributors’ assets are protected and under the control of the trustee.
The PRS will operate as a trust structure, with the scheme trustee having fiduciary duties towards the members, including ensuring that the assets of the funds are segregated from the PRS provider. The schemes will therefore be segregated from the fund provider to ensure that contributors’ assets are protected and under the control of the trustee.
What are the rules on withdrawals from the PRS?
These are being finalised in consultation with relevant parties, including the tax authorities.
These are being finalised in consultation with relevant parties, including the tax authorities.
Commentary On Selected Stocks
Hibiscus - There have been people warning me not to recommend this counter when I did so at 70 sen, 80 sen ... I like their projects, but seriously, they have yet to strike oil. They went limit up yesterday briefly, I wash my hands clean from this counter. Some monies are not for us to make. The stock looks very cornered.
CanOne/Kian Joo - Transaction finally went through. Upside would be around RM2.50 at least. I got so many nasty emails asking me to shut up on CanOne, I refused to print them because it was personal and not looking at the facts of the matter. Kian Joo would also go up in tandem as the uncertainty to extracting synergies from both companies are now in play. Possibly Box Pak will be sold. Although I did not think it was prudent, apparently the grapevine is very certain that there will be a G.O. for Kian Joo, which should be at least RM2.40-2.60. You get things right, nobody says a thing, you get something wrong, they whack you as if you were managing their funds. Lighten up people, you follow at your peril. You don't like, don't read la, what is so difficult about that.
MAS - If you must trade, I think MAS is OK. Now that AirAsia has reached its limit on foreign funds shareholdings level, it can only go down not up. That being the case, MAS may have a bit of upside even though I don't really like MAS.
MBSB - It was a good run but the business model remains flawed. I would stay away from the stock above RM2.00.
NOTE: The above opinion is not an invitation to buy or sell. It serves as a blogging activity of my investing thoughts and ideas, this does not represent an investment advisory service as I charge no subscription or management fees (donations are welcomed though). The content on this site is provided as general information only and should not be taken as investment advice. All site content, shall not be construed as a recommendation to buy or sell any security or financial instrument. The ideas expressed are solely the opinions of the author. I may already have shares in the above mentioned stock/s. Any action that you take as a result of information, analysis, or commentary on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.
CanOne/Kian Joo - Transaction finally went through. Upside would be around RM2.50 at least. I got so many nasty emails asking me to shut up on CanOne, I refused to print them because it was personal and not looking at the facts of the matter. Kian Joo would also go up in tandem as the uncertainty to extracting synergies from both companies are now in play. Possibly Box Pak will be sold. Although I did not think it was prudent, apparently the grapevine is very certain that there will be a G.O. for Kian Joo, which should be at least RM2.40-2.60. You get things right, nobody says a thing, you get something wrong, they whack you as if you were managing their funds. Lighten up people, you follow at your peril. You don't like, don't read la, what is so difficult about that.
MAS - If you must trade, I think MAS is OK. Now that AirAsia has reached its limit on foreign funds shareholdings level, it can only go down not up. That being the case, MAS may have a bit of upside even though I don't really like MAS.
MBSB - It was a good run but the business model remains flawed. I would stay away from the stock above RM2.00.
NOTE: The above opinion is not an invitation to buy or sell. It serves as a blogging activity of my investing thoughts and ideas, this does not represent an investment advisory service as I charge no subscription or management fees (donations are welcomed though). The content on this site is provided as general information only and should not be taken as investment advice. All site content, shall not be construed as a recommendation to buy or sell any security or financial instrument. The ideas expressed are solely the opinions of the author. I may already have shares in the above mentioned stock/s. Any action that you take as a result of information, analysis, or commentary on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.
The Lowdown On China-Stocks On Bursa - Just A View
You open a conversation topic on Chinese stocks listed on Bursa, you see most people shaking their heads. Most have been burned, and burned royally despite following Benjamin Graham's rules of investing. Well, you have low PER relative to profit growth, most are still registering decent earnings growth. But none are willing to pay out a decent dividend despite having a substantive amount of cash. In fact, what has been more galling was they even had the audacity to push through rights issue.
They drop and drop, even though syndicates have been roped in, they still drop. For the past 3 years or so, the news surrounding China companies listed overseas have been appalling. There have been numerous scams and accounting fraud with China companies using RTO to get listed in the US. The seemingly "clean" SGX has not been spared, last count there were 6 China firms listed there that have gone "bust literally" or have tons of shenanigans like in an Irish fairy tale.
Are those listed on Bursa a ticking time bomb?
Well, I don't know really, but so far so good despite the weak share prices for these companies. If you go by percentage of troubled overseas China listed firms, at least 1 out 5 would have collapsed by now. Why SGX had so much problems with China firms and not Bursa? Well, SGX, being a play by the rules entity, relied totally on the sponsors/IBs to bring forth these issues. If the companies can be faulted later on for accounting fraud or related misdemeanours, then SGX will throw the book on the sponsors/IBs and directors. I think Bursa/SC have traveled the extra mile in ensuring these China firms are genuine, most if not all have been "site-visited" by them. The reliance on sponsors/IBs have not been as great for Malaysia as in the US or Singapore. Notch one for Bursa/SC. (I hope no China stock will get busted right after I wrote this, but knowing Murphy's Law, that is probably what will happen).
Excuses and Reasons, and Orcam's Razor
You can dig and dig at the management for reasons for their underperforming shares. There have been excuses after excuses. One, you can say that the sponsors or parties (VC/PE firms) bringing the stock to Bursa have used the route to sell their shares to realise their gains. Two, they needed to keep cash as the bulk of their transactions are with small vendors and suppliers that want to deal in cash. Three, they do not wish to pay out good dividends as they want to reinvest for future growth. Four, they seem to have no desire to buyback their own shares at 2-3x PER??!!
When share price keeps falling and the reasons and postulations given are numerous, according to Orcam's Razor, in such situations, the simplest explanation is probably the truth. The simple explanation is that maybe the figures are a sham. Now, I used to hold that view till my recent new findings, so hold your horses.
The Real Owners?
This is probably just an opinion but I have heard enough to surmise that the registered owners are, more than likely, not the real beneficial owners of these China shares. The Bursa and SC can go and try to find out more. Don't shoot me, I am just the messenger.
For a China company to list overseas, they need this "paper license" called the "wufi", usually from their municipality or state. I am sure you can see where this is headed. Sponsors are usually some smart people piecing a few companies together to get the "wufi". In most cases the ones with the designation of CEO or even Chairman owns very little of the company. The bulk are supposedly held by the "state chiefs and their underlings". We in Malaysia can easily understand why this works, don't we. To the "chieftains", this is an easy way to regulate for paper profits and also transfer some wealth overseas.
That is why you do not see these companies getting huge bank loans, and they want to keep cash at all levels. Maybe its easier to loot the company of money by expanding and taking on new projects as we all know we can always skim the 20%-30% from any projects undertaken. Maybe.
However, I am not saying all these companies are sinister. At the end of the day, more than likely, the management's hands are tied. There is probably very little they can do (without the "approval from real owners"). This is also something we Malaysians are very familiar with, yes "Proxy"!!!
XDL
Now finally a company goes ahead and does something. Their bonus and warrants issue is a move in the right direction. Some have frowned on the private placement, but why should you frown, they are not placing to you. In fact, having a private placement could be the very trigger that some parties have managed to engage the "real owners" and go through a proper "value creation" exercise, hence they themselves would have secured the parties for the private placement.
Significance
I cannot say this with greater effect. If the hypotheses are true, which means at least most or all of the companies on Bursa are not fraudulent, and to get XDL going through this phase of value creation, which I think will be wildly successful. This could be the catalyst that is needed for the rest of the China companies listed on Bursa to do likewise. As things stand, none of the China firms on Bursa are "fraudulent yet", maybe none are. If enough of them go through the value creation steps led by XDL, it could very well lift Bursa as the "best exchange to list China firms". If this is all true and good, then Bursa and SC must continue to make doubly sure that future China listing go through even more stringent listing checks and balances. So far so good, even with depressed share prices, at least we do not have a total bust up (yet).
If all parties play their cards right, the right playing field will attract the right crowd. This is a chance to take the next step forward for all parties involved.
They drop and drop, even though syndicates have been roped in, they still drop. For the past 3 years or so, the news surrounding China companies listed overseas have been appalling. There have been numerous scams and accounting fraud with China companies using RTO to get listed in the US. The seemingly "clean" SGX has not been spared, last count there were 6 China firms listed there that have gone "bust literally" or have tons of shenanigans like in an Irish fairy tale.
Are those listed on Bursa a ticking time bomb?
Well, I don't know really, but so far so good despite the weak share prices for these companies. If you go by percentage of troubled overseas China listed firms, at least 1 out 5 would have collapsed by now. Why SGX had so much problems with China firms and not Bursa? Well, SGX, being a play by the rules entity, relied totally on the sponsors/IBs to bring forth these issues. If the companies can be faulted later on for accounting fraud or related misdemeanours, then SGX will throw the book on the sponsors/IBs and directors. I think Bursa/SC have traveled the extra mile in ensuring these China firms are genuine, most if not all have been "site-visited" by them. The reliance on sponsors/IBs have not been as great for Malaysia as in the US or Singapore. Notch one for Bursa/SC. (I hope no China stock will get busted right after I wrote this, but knowing Murphy's Law, that is probably what will happen).
Excuses and Reasons, and Orcam's Razor
You can dig and dig at the management for reasons for their underperforming shares. There have been excuses after excuses. One, you can say that the sponsors or parties (VC/PE firms) bringing the stock to Bursa have used the route to sell their shares to realise their gains. Two, they needed to keep cash as the bulk of their transactions are with small vendors and suppliers that want to deal in cash. Three, they do not wish to pay out good dividends as they want to reinvest for future growth. Four, they seem to have no desire to buyback their own shares at 2-3x PER??!!
When share price keeps falling and the reasons and postulations given are numerous, according to Orcam's Razor, in such situations, the simplest explanation is probably the truth. The simple explanation is that maybe the figures are a sham. Now, I used to hold that view till my recent new findings, so hold your horses.
The Real Owners?
This is probably just an opinion but I have heard enough to surmise that the registered owners are, more than likely, not the real beneficial owners of these China shares. The Bursa and SC can go and try to find out more. Don't shoot me, I am just the messenger.
For a China company to list overseas, they need this "paper license" called the "wufi", usually from their municipality or state. I am sure you can see where this is headed. Sponsors are usually some smart people piecing a few companies together to get the "wufi". In most cases the ones with the designation of CEO or even Chairman owns very little of the company. The bulk are supposedly held by the "state chiefs and their underlings". We in Malaysia can easily understand why this works, don't we. To the "chieftains", this is an easy way to regulate for paper profits and also transfer some wealth overseas.
That is why you do not see these companies getting huge bank loans, and they want to keep cash at all levels. Maybe its easier to loot the company of money by expanding and taking on new projects as we all know we can always skim the 20%-30% from any projects undertaken. Maybe.
However, I am not saying all these companies are sinister. At the end of the day, more than likely, the management's hands are tied. There is probably very little they can do (without the "approval from real owners"). This is also something we Malaysians are very familiar with, yes "Proxy"!!!
XDL
Now finally a company goes ahead and does something. Their bonus and warrants issue is a move in the right direction. Some have frowned on the private placement, but why should you frown, they are not placing to you. In fact, having a private placement could be the very trigger that some parties have managed to engage the "real owners" and go through a proper "value creation" exercise, hence they themselves would have secured the parties for the private placement.
Significance
I cannot say this with greater effect. If the hypotheses are true, which means at least most or all of the companies on Bursa are not fraudulent, and to get XDL going through this phase of value creation, which I think will be wildly successful. This could be the catalyst that is needed for the rest of the China companies listed on Bursa to do likewise. As things stand, none of the China firms on Bursa are "fraudulent yet", maybe none are. If enough of them go through the value creation steps led by XDL, it could very well lift Bursa as the "best exchange to list China firms". If this is all true and good, then Bursa and SC must continue to make doubly sure that future China listing go through even more stringent listing checks and balances. So far so good, even with depressed share prices, at least we do not have a total bust up (yet).
If all parties play their cards right, the right playing field will attract the right crowd. This is a chance to take the next step forward for all parties involved.
The Longest Wait For A Food Stall In Ipoh
I probably never did write much about this food stall because its already soooo damn hard to get food here. Normally I have to wait 30 minutes at least. Well, thanks to the CNY holidays, its more like 1 hour for my bowl of curry mee (Ipoh style).
Is this the most sought after hawker food stall in Ipoh, probably. Why, its got this silly combination of chicken, mee, meehoon, its distinctive curry soup base, barbecue pork, a bit of pork parts, the crunchy siew yoke ... all topped with its stupefyingly good curry oil mix. Its all in the curry oil mix.
A HK entrepreneur bought the sole rights to sell the same stuff in HK for an undisclosed sum, its still doing roaring business in HK. I think they still ship the curry oil mix over.
If you are there, you gotta take a look at their menu ... its damn original.
Still, one hour is still worth the wait. Don't know what it is, its intoxicating, spicy and pretty hot, plus addictive ... but damn slow service man!!!
A HK entrepreneur bought the sole rights to sell the same stuff in HK for an undisclosed sum, its still doing roaring business in HK. I think they still ship the curry oil mix over.
If you are there, you gotta take a look at their menu ... its damn original.
Still, one hour is still worth the wait. Don't know what it is, its intoxicating, spicy and pretty hot, plus addictive ... but damn slow service man!!!
Kung Hei Fatt Choi
Below is the actual 24K gold carving signifying the year 2012. Too much money, can go to HK to buy this. Sun Leen Jhun Phou!!! Sum Seong See Sing!!!
Adopt A Dog, People
Dog owners and dog lovers will shed tears for sure because they know its true and the scene will be the same if the same thing befall us.
Beating The Market
How to beat the market and become a super investor
By Koon Yew Yin
Risks in doing business:
It is important to stress that all businesses involve risk; hence the selection of shares is also a risky business. This is not the same order of risk as may be involved in going to the casino or betting on the four digits which in 90-99 % or even more of the cases, results in the patron losing his money, if not his pants.
Picking winning stocks means that we pick the companies that can meet the constant challenges of competition, supply and demand, change of fashion and style design, obsolete stocks write off, etc. There are also unforeseen factors such as variation in interest rates, import and export restriction, foreign exchange variation, change in Government regulations, etc. Inclement weather such as flooding affects production as we have seen in Bangkok so that even the most well run of companies such as Toyata and Honda cannot escape it.
Best form of investment
In my view, stocks are the best form of investment. They are tax free, have no management problem, and you can reduce or liquidate all your holdings at any time. There is a classical saying in the market - “You can buy the winning horse after the race”. This means that you can still buy a good share after the company has announced its profit. This does not mean that stocks are entirely risk-free
Fundamentals of Stock Selection
The basic fundamentals for share selection are P/E ratio, NTA, Revenue, cash flow etc. How important are these factors?
The most important criterion is profit growth prospect. Never buy any share if the company cannot make increasing profits. You must buy shares that Fund managers are interested. They are the movers and shakers. Do not buy too much of illiquid shares because it is cheap. It is cheap for some reasons which may keep it at basement prices.
The main reasons why share prices go up include the following:
a. Exceptionally good profit growth prospect
b. Fund managers must be interested, liquidity, publicity etc.
c. Dividends are an important catalyst for moving share prices up
d. Unexpected good news of profit, bonus issues etc. will push up share prices.
When to Sell
When to sell? Do not worry about the daily share price fluctuation if you have a target price. Quite often the share you hold can move up rapidly and continues to go up. You must remember that no share can go up indefinitely for whatever reason. Sell when you are not willing to buy at the price or the reason to buy is no longer valid. Remember you must sell so that you can have funds to buy back during correction. If the fundamentals have not changed, the share price will go up again.
What to Buy
After having seen so many unexpected surprises in the stock market, I consider the safest shares to invest are undervalued oil palm shares. The reasons are:-
a. The production cost for CPO is about Rm 1,300 per ton and the average selling price has been more than double the production cost in the last 10 years or more. The average CPO price for 2011 is more than Rm 3,000 per ton. Which business can offer such big profit margins?
b. The demand and profit are sustainable due to population increase. Moreover, both China and India who are our buyers have been improving their economy. The financial problem in Eurozone and US has little or no effect on our palm oil market.
c. A palm tree will start fruiting after 3 years. It will continue to bear more fruits until it is about 16 years old after that age it will begin to bear less fruits. Only after about 22 years a palm tree needs replanting.
d. The land always appreciates in value.
e. There is good profit growth prospect and sustainable profit
I am obliged to tell you that plantation shares form the major part of my investment portfolio. If you decide to buy, I am not responsible for your profit or your loss.
How to become a super investor?
I started serious investing in public listed shares when I retired from executive work at 50 years old. I was not an accountant nor have I a MBA degree. I was just a civil engineer and I hardly knew how to read a balance sheet at that time.
I started by reading to understand the basic fundamental principles of share selection as practiced by Warren Buffet, Peter Lynch and other great investment gurus. These are the key traits to being a super investor that I picked up.
Trait 1: Be a contrarian investor, that is, the ability to buy stocks while others are panicking and sell stocks while others are euphoric. In 1983 when China declared that they wanted to take back Hong Kong, the people were selling as if there was no tomorrow because the Communists were coming. The Hang Seng Index plunged to about 700. Currently it is around 18,500.
In such a situation at that time, would you buy Hong Kong shares? I did.
Trait 2: Obsession in playing the game and wanting to win. Winning investors don’t just enjoy investing; they live it. They wake up in the morning and the first thing they think about, while they are still half asleep, is a stock they have been researching. They are thinking about selling, or what the greatest risk to their portfolio is and how they are going to neutralize that risk.
They are obsessed in enhancing the value of their holdings. I am that way.
Trait 3: The willingness to learn from past mistakes. Most people would much rather just move on and ignore the dumb things they’ve done in the past. I believe the term for this is repression.” But if you ignore mistakes without fully analyzing them, you will undoubtedly make a similar mistake later in your career.
Trait 4: An inherent sense of risk based on common sense. Most people believe analysts’ reports which are often ‘a buy’ recommendation. It is very seldom they recommend ‘a sell’ because they would lose the business from the company he has recommended ‘a sell’. You must always take any analyst report with a pinch of salt.
I believe the greatest risk control is common sense which is not so common sometimes.
Trait 5: Confidence: Great investors must have confidence in their own convictions and stick with them, even when facing criticism. Buffett never got into the dot-com mania though he was being criticized publicly for ignoring technology stocks. He stuck to his guns when everyone else was abandoning the value investing ship. He was proven right when the dot com bubble bust.
Trait 6: Clear thinking. When considering a share, you must try to understand the nature of the company’s business and its inherent difficulties so that you can evaluate your risk exposure. There are a lot of people who have genius IQs who cannot think clearly, though they can figure out bond or option pricing in their heads.
Trait 7: And finally the most important, and rarest, trait of all is the ability to live through volatility without changing your investment thought process. This is almost impossible for most people to do. When the market makes a severe correction, most people dare not buy more shares to average down or to put any money into stocks at all when the market is plunging. They would begin to doubt their own judgement.
Wishing you a season of happy and profitable investing!
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