Overall turnover increased 1.9% but profit reduced slightly. However still able to clock EPS SGD 0.0023. Report on its business and IP2SA are in progress and we are happy to reward its performance by another purchased at SGD 0.014 today.
Both insurers have done well in the pass week and we continue recommend a “Hold” of Allianz min target RM 12.00 and MNRB RM 5.00
When we buying in Gold per month from USD 800 to USD 1,900 and dropped back to USD 1.300. We are not actually investing in Gold. First, we buy in consistent Gold every month is because we are not expert in Gold prices. So if we purchase in a linear format we believe we will get average good price in mid to long term.
Another key objective is we believe paper money is getting no value further as all central banks continue to print money. So we hedge a small percentage in our portfolio with this commodities.
Finally, we are always believe that market crash will always give good opportunity to buy cheap asset. But only gold will have a higher chance to provide you good value to buy cheap asset when market crashed.
We believe temp the credit issue has been digested and HSI resumes its momentum. Undervalued banking is on the move again. ABC has recovered from 10% and we bought in CCB that still has an indicative PE of 6 times. We added at HKD 5.900 and also Bingo as our long term bet at HKD 0.159.
We started to bought in mildly and monitor this newly listed company. It main business involved road condition recycling in China. It has up pretty much from HKD 2.43 as listed IPO price but we like its business model. We will start to monitor Freetech as our “Climate changed” related investment which will be our focus investment next year.
If Mr Lee mentioned Malaysia has a brain drained problem due to over focus in one race. How about another problem that most of our industries are now over depending on foreign labours?
There are tons of reasons either right or wrong. So i rather put aside but mainly focus in dependency. From retail of most shops to construction for property development, household, plantation, manufacturing.
The economy is still growing forcefully. The transformation to service oriented industry still on going. Manufacturing is picking up in autonation. But are we foinf to havr enough time and effort for all transformation?
Indonesia announced 2017 will be the year to ban its local workforce to work abroad. Philippines econony is picking up and so do Vietnam that create more jobs for their own people. Eventuallu Nepal and Bangladesh will pick up too. What if one day there are no such low cost labour anymore?
We should ask this question fast and find a fix. If not, it is going to have structural eocnony problem in the coming years.
There are plenty of knowledge out there. There are plenty of experience to be picked up. Almost all like to be rich. However, still there are many jewels unnoticed. Still many think don’t know how to start. And …….
I asked a kid whether you know how to start playing skate board? He told me virtually impossible he can know how. But when you see the kid doing something he like it, he google, he read books, he experiment to find out how.
So investment needs passion. It is the same after all.
We believe the Hari Raya mode will extend to next week. As it is concurrent to school holiday. Equivalent to fund managers summer holiday.
We bought AUD again as we believe it will give us good opportunity to invest into Australia asset. We still believe Australia is full of resources and potential in the future.
Currency may adjust to global and local environment. But asset related investment will be good for mid to long term.
We continue to unload mildly Bonia at RM 3.40. But eventually we will still hold half of our Bonia portfolio in total.
We switched to Multico, AAX andUOAREITs