I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Friday 30 September 2011

Financial Independence Target by Sep 2011: FAILED, F9!


Off target by 16%!!!!


Poor Q3 2011 Performance Report: Down -8.4% from Q3 2010

Read? H1 FY 2011 Performance Report : Down -4.8% from H1 2010

Year Goal Hit Rate

(In 2003, I set some bullish progressive year goals from 2003 to 2011; and 2011 Year Goal is 76.8% of 2010 Total Salary including all CPF contributions. Quite a big goal to achieve!)

Year Goal Hit Rate for 2011 fell by -8.4% from 48.1% in Q3 2010 to 39.7% in Q3 2011
Terribly bad performance!








Active Investing Performance

Since Nov 08 after I have given up active contra trading and revised my active investing/trading strategies.

Performance indicators are as follows:














Today, XIRR hit a new low at 11.6% at market closing price over 2.9 years since Nov 2008

How bad will the portfolio plunge further?

My guess could be around this level:

Morning is world's happy time

Createwealth8888: Why it is very important to get out of Rat Race as early as possible and don't work on weekends.

WASHINGTON: People around the world are happiest in the morning, according to a US study on Thursday that analyzed hundreds of millions of messages on the microblogging site Twitter.


Cornell University sociologists used language software to detect the presence of positive words in 509 million tweets from 2.4 million users in 84 different countries over a two-year period.

Mood peaks were detected early in the day but began to dip mid-morning, about the time most people are starting their workdays.

Another positive peak was witnessed around midnight, followed by a "sharp drop in NA (negative affect, including distress, fear, anger, guilt, and disgust) during the overnight hours," said the study in the journal Science.

The highest numbers of good mood words indicating enthusiasm, delight, activeness, and alertness were found on Saturdays and Sundays, "which points to possible effects of work-related stress, less sleep, and earlier wake time."

Samples from predominantly Muslim countries where the weekends are on different days, such as the United Arab Emirates, showed the same patterns on Fridays and Saturdays as seen in other countries on Saturdays and Sundays.

English was the only language analyzed, though users came from across the globe.

However, modern technology's answer to every emotion -- the smiley or sad face emoticon -- was of little help in the analysis, because "usage was too sparse to be able to detect a consistent pattern," said the study.

- AFP/ck

Thursday 29 September 2011

SWIBER’S ORDER BOOK SURGES PAST ONE BILLION USD, A RECORD IN CORPORATE HISTORY

- Order book boosted by US$69.0 million in contract wins


Singapore – September 29, 2011 – Swiber Holdings Limited (“Swiber” or together with its subsidiaries, the “Group”), a world class integrated construction and support services provider to the offshore industry, announced that it has secured a slew of contract wins amounting to approximately US$69.0 million including extension options, bringing its order book beyond US$1 billion, the highest by far in its corporate history.

The contracts, awarded by leading offshore construction companies and oil majors, involve a whole spectrum of work from pipeline transportation and installation, subsea installation and chartering of marine vessel. Work for these projects are slated to commence immediately. The pipeline and subsea projects are targeted to be completed within this year and the marine vessel will be chartered for the duration of three years with an option to extend for two more years, consistent with Swiber’s strategy of securing long term contracts.

Keppel Shipyard secures conversion projects worth S$142 million

29 September 2011, Singapore – Keppel Shipyard Ltd (Keppel Shipyard) has secured three conversion contracts worth a total of S$142 million. These conversion contracts are to convert a Liquefied Natural Gas (LNG) Carrier to a Floating Storage Unit (FSU), a VLCC tanker to a Floating Storage and Offloading (FSO) unit as well as a tanker to a Floating Production Storage and Offloading (FPSO) unit.


Mr Nelson Yeo, Managing Director of Keppel Shipyard, said, "We are glad to have the trust and confidence of the global industry for a range of conversion projects. Working closely with our customers, we will continue to enhance and extend our capabilities, and ensure safe and high quality deliveries.”

The first contract is for the fast-track conversion of the LNG carrier Tenaga Empat into a FSU for Malaysian customer MISC Berhad. When completed in 2Q 2012, the FSU will have a storage capacity of 130,000m3 and operate in the newly-developed Melaka LNG Import Terminal.

The second contract is from Dixstone Holdings Ltd which is an association between Perenco Group (Perenco) and Cameroon National Hydrocarbons Corporation (SNH) for the modification and upgrading of the FSO Massongo. Work is expected to commence at the end of this year. The scope of work includes refurbishment and life extension works; fabrication and installation of the cargo offloading balcony and helideck; installation and integration of a 14-point spread mooring system and the upgrading of the accommodation facilities. The available storage capacity of the vessel will be 2.5 million barrels of oil, with four wing ballasts tanks to be converted into cargo tanks. When completed in 3Q 2012, FSO Massongo will replace both FSO Kingsway (Rio Del Rey Basin) and FSO Moudi at Moudi field located 20 miles apart.

This is the third FSO conversion which Keppel Shipyard had undertaken for Perenco, with the previous two projects FSO Kalamu and FSO Fernan Vaz having been successfully executed.

Keppel Shipyard’s third contract is for the conversion of the tanker Umbe into a FPSO unit for Bumi Armada Berhad (Bumi Armada). Keppel Shipyard has been entrusted with all of Bumi Armada’s conversion projects to date; this latest FPSO contract is the seventh collaboration on major projects between the two companies.

Slated for completion in 4Q 2012, the FPSO will have a production capacity of 50,000 barrels of oil per day (bopd), and a storage capacity of 580,000 barrels of oil.

Sabana Reit to buy 21 Joo Koon Crescent for about $20.3m

By KALPANA RASHIWALA


Sabana Shari'ah Compliant Industrial Real Estate Investment Trust is proposing to buy 21 Joo Koon Crescent, a three-storey factory building with ancillary office, for $20.274 million from AVA Global.

Under the sale and leaseback deal, the seller will upon completion of the sale, take a master lease of the entire premises for a four-year term on a triple net basis. Sabana Reit's manager intends to fund the acquisition by debt.

This acquisition, along with the proposed acquisitions of 39 Ubi Road 1, 3A Joo Koon Circle and 2 Toh Tuck Link, announced earlier will see the Reit's aggregate leverage (gross borrowings divided by total deposited property value) rise to 35 per cent from 25.1 per cent at June 30, 2011.

21 Joo Koon Crescent is a JTC leasehold estate of 30+30 years tenure starting from Feb 16, 1994, with a remaining tenure of about 43 years. The proposed transaction is subject to approval from JTC, among other conditions.

Wednesday 28 September 2011

VSIP SIGNS AGREEMENT TO EXPLORE FIFTH INTEGRATED TOWNSHIP AND INDUSTRIAL PARK

- Located in central Vietnam’s Quang Ngai Province


- Witnessed by the President of Vietnam and Singapore Prime Minister

SINGAPORE, SEPTEMBER 28, 2011 – The Vietnam Singapore Industrial Park Joint Venture Co (VSIP JV) today signed a memorandum of understanding (MOU) with the People’s Committee of Quang Ngai Province to conduct the comprehensive feasibility study of a 1,020-hectare integrated township and industrial park in central Vietnam’s Quang Ngai province.

The proposed development comprises a 500-hectare industrial park located within the Dung Quat Economic Zone, where government-supported special economic zone incentives are made available to manufacturers. Separately, under consideration are 520 hectares of land zoned for commercial and residential purposes near downtown Quang Ngai city.

SEMBCORP SIGNS THREE AGREEMENTS TO EXPAND UTILITIES BUSINESS IN LIAONING PROVINCE, CHINA

Singapore, September 28, 2011 – Sembcorp is pleased to announce that it will be signing three memoranda of understanding (MOU) to explore further collaboration on utilities projects in the Liaoning province, China, at the Singapore-Liaoning Economic and Trade Council meeting later this morning.


MOU for the strategic cooperation between Sembcorp and Liaoning government

The first of the MOUs that will be signed is a strategic cooperation framework between Sembcorp and the Liaoning Provincial Bureau of Foreign Trade and Economic Cooperation to strengthen their collaboration in the development of utilities facilities in the Liaoning province. As part of this strategic cooperation framework, Sembcorp will explore the provision of utilities, including energy and water solutions, to industrial customers, particularly in the petrochemical industry, in various cities within the Liaoning Coastal Economic Area and the Shenyang Economic Zone, including Fushun, Dalian Chang Xing Island and Panjin.
 
MOU to explore investing in centralised utilities projects in Dalian Chang Xing Economic and Technological Development Zone, Liaoning province


Following the signing of the strategic cooperation framework, Sembcorp will be signing a MOU with the Dalian Chang Xing Island Economic and Technological Development Zone (大连长兴岛经济技术开发区) to explore the development of world class centralised utilities facilities on Dalian Chang Xing Island.
 
MOU to explore forming a joint venture to develop centralised utilities project in Fushun Hi-tech Development Area, Liaoning province

Sembcorp will be signing a third MOU with the Fushun Hi-tech Industrial Area Administration Committee to explore forming a joint venture company to develop a centralised utilities project for the provision of energy, water and on-site logistics to the Fushun Hi-tech Industrial Development Area.

Tuesday 27 September 2011

Olam's long-term commods outlook bullish; cautious on cocoa

SINGAPORE - Singapore-listed Olam International said on Monday the long-term outlook for most agricultural commodities was still bright despite the threat of a slowdown in demand triggered by economic woes, but weak fundamentals could work against cocoa.

Gold and copper suffered their biggest slump since the 2008 financial crisis as another brutal sell-off hit commodities on growing doubts Europe may be unable to prevent its debt crisis from dragging down the global economy But Sunny Verghese, Olam's chief executive officer, told Reuters growing demand for food, and shrinking supply, would support prices in the long run.

'Right now we are facing increasing economic pressures on all markets, and since all asset classes are now more correlated, it is impacting commodity prices as well,' Mr Verghese said in an interview.

'Cyclically we will see probably a correction but over the medium and long term we see commodity prices remaining firm as we see growing imbalances between supply and demand for food.'

Olam, a major global trading house which is the world's largest shipper of robusta coffee, is 14 per cent owned by Singapore state investor Temasek.

The company trades about 20 different commodities ranging from Australian almonds and African cashews to cocoa. It also operates coffee plantations in Laos and a rice business in Thailand. According to its website, Olam has some 10,000 customers.

Mr Verghese said the company was unlikely to raise any equities to support medium-term growth and to achieve a target US$1 billion profit by the financial year ending 2016.

'We have already considerably strengthened our capital base, even if the global capital market completely shuts down for the next couple of years, it does not matter for us because we have raised enough capital both on the debt and equities side,' Mr Verghese said.

'We will raise additional debt capital 2-3 years down the road but right now we don't need any... (and) we are unlikely to raise equity to support this growth,' Mr Verghese said referring the firm's 2016 financial year target.

Olam was bullish on coffee, where high-quality arabica beans rallied to their highest in more than 30 years this year on supply concerns, but the outlook for cocoa was shaky because of a global supply surplus in the 2010/11 crop year.

New York cocoa futures rallied to their highest in 32 years around US$3,800 a tonne in March after fighting in top producer Ivory Coast ignited fears of supply disruptions. Prices have since dropped to around US$2,600.

'So we believe cocoa prices, for example, are still over valued despite the sell-off that happened in the recent past. So we are bearish on cocoa. We see a significant surplus globally, and therefore we expect cocoa prices to trend lower,' Mr Verghese said.

'We expect a surplus, our internal estimates are closer to 450,000 tonnes. I think the market is pricing in now about between 350,000 and 400,000, but we expect a bigger surplus - between 425,00 and 450,000.'

Current global coffee consumption is expected to grow as high as 2.7 per cent, and there will be a lag in supply growth because of minor increases in top robusta producer Vietnam, the world's largest producer of the variety used in instant coffee.

'In the last 10 years, demand has grown by an average of 2.25 per cent per annum. We expect going forward, demand will grow at more like 2.5 to 2.7 per cent per annum. It's already started,' said Mr Verghese, adding that demand for specialty coffee is on the rise.

Olam pegs Vietnam's coffee crop at 1.2 to 1.25 million tonnes in the 2011/12 crop year, slightly higher from 1.15 million tonnes in the crop year to September 2011 because there is few new plantings.

Indonesia, the world's second-largest robusta producer, will see a recovery in production in the main growing island of Sumatra, but domestic consumption is also expected to increase to up to 180,000 tonnes in 2011.

'We estimate Indonesia's local consumption now to have grown to about 170,000-180,000 tonnes. This is this year. It is growing at about 10 per cent per annum for the last, I would say, 5 years,' he added.

Sumatra's production is estimated at 250,000 tonnes in the 2011/12 crop year due to better weather, from 160,000 tonnes in the 2010/11.

On sugar, Olam expects raw sugar futures to find a floor at 24 US cents a pound equivalent to domestic ethanol prices in main sugar producer Brazil, after high prices curbed demand for the sweetener.

Mr Verghese said Olam, which has a market capitalisation of US$4.5 billion, is looking to develop or buy sugar plantation assets in Indonesia or Brazil.

However, he said the company is not currently looking at Indonesia's Papua region where Singapore's Wilmar, the world's largest listed palm oil firm, is trying to set up 200,000 hectares of sugar plantations.

New York sugar futures surged to their highest in more than three decades at around 36 US cents a pound in February after a massive cyclone struck Australia, one of the world's top exporters. Prices have slipped to around 24.80 cents.

'We're seeing for the first time a decline in consumption this year. It has never happened in history,' said Mr Verghese.

'We think 24 cents will provide a strong support. We also see sugar consumption growth being very strong, apart from this year's blip because of very high prices.' -- REUTERS

Saturday 24 September 2011

Portfolio Stress Test for Big Bear in 2012/2013

Read? Riding through market cycles. No free lunch!

I did a stress test on my portfolio based on my perceived worst case scenario that may happen. The plunge may not be worse than 2008/2009 in super low interest rate of 0.05% and higher inflation rate of 5% environment. The stock market is more likely to be supported as investors simply can't hide themselves too long in Cash.

If you poll or observe the people around you; there are still too many people sitting on lots of cash waiting for opportunity to enter the stock market. They will soon rush in to absorb any selling pressure for yield stocks.

These people know that Cash is not King until you are able to enter the stock market to the ride with the next bull up ; otherwise your Cash is rotting in the bank or money market.


Unlike in 2008/2009, this time I will have more fire powers to rebound with the next Bull so I must sharpen my mind and open my eyes wider to spot the next market gems.




Riding through market cycles. No free lunch!

Read? Sanity Check on the Money Plan against STI Support Levels


Will STI technically enter the Bear market soon?

Struggle within. No free lunch!

Does riding through market cycles make any senses? BTW, there is no free lunch in the stock market. Do or do not! - Master Yoda



Another plunge in 2012/2013???


Friday 23 September 2011

Three Acts of Kindness!

Borrow the idea from La Papillion


** "BIAS" is a special feature in my blog where I get to say whatever I want with scant regards for your feelings. I'm not politically correct in this feature, so go ahead, judge me."


Read? Why opt-out social scheme works?

There are probably three acts of kindness in us.

  1. Proactive - as volunteers or regular contributors to social causes or charity
  2. Reactive - Participating when approached for social causes or charity
  3. Passive - Will not opt out for social causes or charity

Steeper rise in CPI for August

SINGAPORE: Singapore's consumer price index (CPI), a measure of inflation, rose a steeper 5.7 per cent in August from a year ago.


The CPI had risen 5.4 per cent in July.

The Department of Statistics (DOS) said this was a result of higher costs of accommodation, private road transport and food.

The higher accommodation cost reflected mainly higher imputed rentals of owner-occupied accommodation which has no impact on the cash expenditure of owner-occupied households.

The higher cost of private road transport was mainly due to the significant increase in Certificate of Entitlement (COE) premiums.

Excluding accommodation costs, the consumer price index was 4.4 per cent higher compared to the same period last year.

Compared to July, the CPI for August rose 0.7 per cent, reflecting mainly higher costs of private road transport, accommodation, clothing & footwear as well as "recreation & others".

On a month-on-month basis, the MAS core inflation measure (which excludes the costs of accommodation and private road transport) was 0.4 per cent in August.

On a year-on-year basis, the MAS core inflation measure was 2.2 per cent.


- CNA /ls

Why opt-out social scheme works?

Borrow the idea from La Papillion


** "BIAS" is a special feature in my blog where I get to say whatever I want with scant regards for your feelings. I'm not politically correct in this feature, so go ahead, judge me."


Why opt-out social scheme like HOTA, Elder Shield, CADC fund, etc works?

For most social causes and schemes, majority of the social beings will not consciously, intentionally, and that calculative to make that extra effort to opt out. Fortunately, the default mode of the majority is like "OKAY LAH" or "SMALL SMALL NIA" so not much impact to me. But, for some in the society who needs it; it is "BIG ISSUE" and "NOT SO OKAY" hor.

Thursday 22 September 2011

SWIBER ORDER BOOK ESCALATES CLOSE TO RECORD US$1.0 BILLION

- Successfully secures repeat order from an oil major in South Asia



- Highest order book in the Group’s corporate history

Singapore – September 22, 2011 – Swiber Holdings Limited (“Swiber” or together with its subsidiaries, the “Group”), a world class integrated construction and support services provider to the offshore industry, announced today that its order book has rocketed close to US$1.0 billion, the highest in the Group’s corporate history, after securing its single largest contract win this year worth approximately US$155.0 million for an EPIC pipeline project in South Asia.

This repeat order win from a major oil company in South Asia reflects Swiber’s strong position in meeting stringent customer requirements among oil majors and the robust capex investment in the oil and gas industry on the back of resilient oil prices. The latest EPIC pipeline project is scheduled to commence in 4QFY2012 and targeted to complete in 2QFY2013.

Commented Mr. Francis Wong, Group Chief Executive Officer and President of Swiber, “We are  delighted to have hit a new high watermark in our order book since listing. Swiber has proven its mettle, securing and delivering larger and larger projects over the last few years. This latest contract win, a repeat from a major oil company, is a testament to Swiber’s consistent excellent service, efficiency, commitment to safety and timely deliveries, and is reflective of our customer’s confidence in our ability to deliver to their challenging requirements.

“Looking ahead, industry-wise, we expect that structural growth in demand for energy in Asia and Middle East will catalytically lead to increased capex expenditure in the next two years, providing a boost to offshore construction activities. We are also encouraged by two recent high profile consolidations in Malaysia and the US in the offshore construction industry. These consolidations set the valuation of international offshore construction companies like Swiber and provide a good benchmark for the rest of the industry players.

“We intend to continue to actively bid for various oil & gas projects. With a fleet of 12 construction vessels and 39 support vessels, Swiber is more than ready to seize these opportunities.”

Buoyed by the string of contract wins, the company is far from resting on its laurels. Said Mr. Wong, “Swiber is committed to operational excellence. With the integration of our Continuous Swiber Improvement (CSI) initiative, adapted from the Lean philosophy, we are the first in the industry to go into full-scale implementation of Kaizen and Lean management which focuses on continuous improvement of processes in project execution, engineering, supporting business processes and management to achieve more results with less cost.”

Trading vs Investing?

What is the difference between trading and investing?

Simply the  answer is:

Traders love price volatility. They make and lose money through it.


Investors ignore price volality. They love dividends and hope for long-term price appreciation.



The Vista – CapitaLand's first residential development in Vietnam completed on schedule

Singapore, 22 September 2011 – CapitaLand is pleased to announce that its first residential development in Vietnam, The Vista, has been successfully completed on schedule. It is jointly developed by CapitaLand as the lead developer, Thien Duc Trading Construction Co., Ltd and Phu Gia Investment Joint Stock Company. The construction of The Vista commenced in January 2008 and was completed on schedule in September 2011.

The Vista is located in Ho Chi Minh City’s District 2 within An Phu Ward, a prime residential precinct close to the city centre. The Vista comprises predominantly 750 luxurious apartments across five 28- storey towers overlooking the Saigon River and the city. The development also offers approximately 35,000 square metres of commercial space including a retail podium, office facilities and 100 serviced residence units.

Wednesday 21 September 2011

Olam - Still looking positive

Awaken Your Healing Power!

I know some of you strongly believe in Mind Over Body.

Here is book that you want to read.

In 2005, John Wong, a thirty-one-year-old molecular biologist was struck by a peculiar illness that led to his paralysis from his neck down. Some of his organs had also started to malfunction. As if it was not enough for him to bear, he even lost his ability to see. His own body has unexpectedly failed him at the peak of his career and life, as he had known it then, came to a standstill.


Yet, he somehow managed to defy the judgement of most medical doctors who thought he was a lost cause and miraculously recovered from his paralysis and blindness over an arduous period of 3 years.

In Awaken Your Healing Power John shares his experience of establishing a Transcendental Connection with the Source and how it has led to his miraculous healing and how it has allowed him to be a vehicle for further healing in others, as he continues to tread this lifelong path of self-awakening.

DBS, NDB sign MOU

By TEO SI JIA


DBS Bank on Wednesday announced that it has signed a memorandum of understanding with Sri Lanka's NDB Group.

The partnership will see the two working together in the investment banking sector and collaborating in equity and fixed income issuances, syndications, project financing and mergers and acquisitions.

'With the expected high-growth scenario in Sri Lanka's economy, the size of transactions will increase exponentially during the next few years.'

'Irrespective of the form, the future fund-raising requirements may not be able to be handled within Sri Lanka, and our clients will have to resort to international markets, regional markets in particular, to fill the gaps,' said CEO of NDB Bank, Russell De Mel.

'This MOU will enable us to tap the distribution capabilities of DBS while meeting the capital requirements of our clients.'

The head of capital markets at DBS, Eric Ang, also said that the partnership will help DBS to 'offer seamless regional connectivity to customers', and to 'intermediate the increasing investment flows within Asia'.

Tuesday 20 September 2011

Happiness within? (2)

Read? Happiness within?

Money not enough

When money is not enough, it is hard to achieve happiness so people care and spend their time and effort in their investment to get better yield for their money. But, how many people are investing time and effort on their body to get the better yield out of their own body.


Health not enough

Some common illness can be prevented by investing lots of time and effort in yielding our body. e.g minimum 150 hr??? of long exercise per week.

Once we lose my health due to our own fault (not due to genetic element), no amount of money in our bank account can bring us back again. We can't be happy on long-term medication. Right?

Read? A new risk marker for heart diseases

Don't just think money not enough; but also think exercise not enough. How?

Wear running shoes and start this weekend!

DBS BANK TAKES PRIVATE BANKING IN ASIA TO NEW LEVEL WITH SGD 250 MILLION INVESTMENT OVER NEXT FIVE YEARS

Launches new HNWI platform DBS Treasures Private Client; unveils inaugural branding campaign targeting Asia’s millionaires

SINGAPORE, 20 September 2011 – DBS Bank, which has made strides to build out its wealth franchise over the past year, today announced plans to invest a further SGD 250 million over five years to take private banking in Asia to a new level. The investment reinforces DBS’ commitment to executing against strategy to become a leading wealth manager in Asia, in line with one of the bank’s strategic priorities.

Unlike traditional private banks that are standalone entities with a standardised approach to serving HNWIs, as part of an ambitious growth plan, DBS today officially launched DBS Treasures Private Client in Singapore and Hong Kong, as an extension of the DBS Private Bank offering. With this launch, DBS is now uniquely placed as it can provide two distinct platforms to cater to the fast-growing population of HNWIs in Asia:

Monday 19 September 2011

Kids are expensive liabilities!

Just For Thinking ....

Kids are joy to young parents and grand-parents; but they can be expensive liabilities to acquire. The Universal Law of Cause and Effect will apply and we always Reap what we Sowed. Without your children and grand-children around you, when you become old, lonely and helpless; no amount of money in your bank account can put a smile in your face.

Have you ever notice the happy and smiling faces of grand-parents playing with their grand-children?

Lian Beng proposes spin-off of subsidiaries for primary listing on Taiwan Stock Exchange


  • Wholly owned subsidiary Lian Beng Engineering & Machinery and 90% owned Sinmix Pte Ltd to be spun off to achieve independent valuation and provide clearer credit profiling for its future business growth
  • Group obtains pre-clearance from SGX-ST on spin-off
  • Group to convene EGM to seek approval from shareholders; believes proposed spin-off can bring long term value to shareholders

Rotary Engineering secures S$110m worth of contracts from July to September 2011

SINGAPORE, 19 September, 2011 – IT STARTED with a small contract for early works such as temporary facilities, ground preparation and civil works for a chemical plant. Following that initial assignment, mainboard-listed Rotary Engineering Limited (Rotary) has reeled in a multi-million contract to undertake construction of the chemical plant, based in Jurong Island.

The project, contracted with CCD (Singapore) Pte Ltd, relates to Taiwan-based Chang Chun Group’s initial investment of S$500 million to build a petrochemical plant on Jurong Island.

In addition, Rotary announced a slew of contracts of varying values that it has amassed over the months of July through September 2011. For confidentiality and competitive reasons, the Group is unable to provide a breakdown of the transactions that involve work across different disciplines, including engineering procurement and construction (EPC), maintenance and electrical and instrumentation services.

Ancient Words of Wisdom on Goal Setting

Don't forget we need all the three steps to succeed in our goals and setting goal is the easy of all.

First, have a definite, clear practical ideal; a goal, an objective.

Second, have the necessary means to achieve your ends; wisdom, money, materials, and methods.

Third, adjust all your means to that end!


~ Aristotle

Sunday 18 September 2011

A nice gift to the newborn baby girl at her requested budget!


S$50

Will You Try To Pay Off Your Housing Loan ASAP If You Have One? (11)

Will You Try To Pay Off Your Housing Loan ASAP If You Have One? (10)

Enjoy loan tenure up to 40 years, or 70 years of age, whichever is earlier.



40 years housing loan!!! 

The banks are telling you to take your time to pay your housing loan and become a wage slave for next 40 yrs or up to 70, whichever is earlier!

Life is short. Work harder for money?

Read? Regrets of the Dying

Let our life be two halves like football matches. In the 1st half, we should be working harder for money. In the 2nd half, we should let our money works harder for us either through investment or become business owner.  When we are working less; we will have more time and energy to do those things we want to do but previously have no time or money to do them.

No regret hor! Life is short.

Saturday 17 September 2011

CPF Accrued Interests on property

Read? Invest with CPF investment fund or Cash in the stock market?

I realized that the accrued interests payable to my CPF OA account is at 121% of the amount that was used to pay the HDB housing loan.

The magic of compounding interests over 20+ years @ low rate of 2.5%!!!!

Investing Made Simple by Uncle8888 (26)

Read? Investing Made Simple by Uncle8888 (25)

Blue Chips Dividend Investing vs Value Investing

Read? Current Dividend Yield is good but avoid falling into potential Dividend Traps (4)

"Less Analyzing. More Investing!" - Createwealth8888

"To make money from the stock market, it is not how well you analyze it. It is how well you invest into it." - Createwealth8888

Blue Chips Dividend Investing is not the same as Value Investing. Value investing is a belief that someone can discover market gems (so-called under-valued stocks) earlier than the rest of players in the stock market. Value investors believe that they have the means to value a stock and determine its margin of safety.

But, the truth is value investing is RELATIVE. The under-valued is PERCEIVED while the market doesn't think so. So it is just an imaginary set of numbers perceived in the mind of a value investor.

Blue Chips Dividend Investing is different. It is ABSOLUTE! Your dividend yield is absolute. You don't need to be a Maths whiz to compute it. The cash you received from stock dividends is real. In blue chips dividend investing, it is less analyzing and more investing. You don't need to attend AGM to find more.


Blue Chips Dividend Investing is simple. You don't need to spend weeks or months to analyze reports and businesses just to buy them.

You only need to understand the following:
  1. Price is what you paid. Dividend yield is what you get for the price you pay for it.
  2. High Dividend Yield of at least 6-8%. Past few years of consistent dividend payout or better still an increasing dividend payout.
  3. Low dividend payout ratio e.g. 50% or below (High dividend payout ratio e.g. 90% or more will easily translate to high dividend yield. It is natural.)
  4. Dividend Growth (Increasing dividend growth will eventually drive the stock price to settle in at the next higher base price in the subsequent market crashes)
  5. ROE of at least 12% or more.
You don't need to be brainy for successful blue chips dividend investing strategy. But, you need to have lots of patience and guts to buy during market crashes. More importantly, you also need to have balls to hold while the stock prices are shooting through the roof.

Why blue chips?


Check? Blue chips


Why blue chips dividend investing? It is easy! When the blue chip is turning blue-black. SELL!

Thursday 15 September 2011

SEMBCORP CO-DEVELOPS NEW SINGAPORE-SICHUAN HI-TECH INNOVATION PARK IN CHENGDU, CHINA

Chengdu, Sichuan Province, China, September 15, 2011 – Sembcorp’s wholly-owned subsidiary, Sembcorp Industrial Parks, is co-developing a 1,000-hectare innovation park. The Singapore-Sichuan Hi-tech Innovation Park is located in the Chengdu Hi-tech Zone’s south park within the Chengdu-Chongqing Economic Zone.


An Investment Cooperation Agreement has been signed between Singapore-Sichuan Investment Holdings Pte Ltd (SSIH), a company incorporated in Singapore, and its Chinese partner the Chengdu Hi-tech Investment Group Co., Ltd with the Chengdu government (represented by the Chengdu Hi-tech Industrial Development Administrative Committee). The Agreement sets out the terms and obligations for the development of the innovation park and will take effect upon the signing of a joint venture agreement between SSIH and the Chengdu Hi-tech Investment Group.

Sembcorp holds 40% share in SSIH, a Singapore consortium that includes Temasek, Keppel and Ascendas. The SSIH and its Chinese partner, the Chengdu Hi-tech Investment Group Co., Ltd will in turn own 50:50 share in a Chinese incorporated company to co-develop the innovation park. The registered capital of the project company is approximately US$297 million, of which Sembcorp’s US$59.4 million equity investment will be internally funded.

The SSIH involves “related parties” as Sembcorp is an associate of Temasek and Temasek is a “controlling shareholder” of each company, holding 49.52% and 21.41% of their issued share capital respectively.

Compare Your Annual Income 2010

Check? Compare Your Annual Income 2010

Notice that if you earned the same amount as the previous year, you will rank worse than before. People are making more money, obviously. A 100k income would give you a 79.9th percentile ranking a year before, but the same amount places you only at the 79.0th percentile this year. Guess what – four years ago, it was 83.1!




Wednesday 14 September 2011

DBS China reports 160% rise in H1 net profit

SINGAPORE: DBS Group Holdings said first-half net profit in China rose 160 per cent from a year earlier. Southeast Asia's largest lender said it was a record, driven by a 90 per cent increase in deposits.


According to a statement distributed before a briefing in Beijing on Tuesday, the bank plans to open three more outlets in China this year. DBS opened six outlets this year and currently has a total of nine branches and 13 sub-branches in China and has a staff strength of over 1,400.

DBS Bank said they were bullish on the long-term growth of China's business,

DBS Group chairman Peter Seah said: "DBS China's strong first-half growth is testimony of our bank's strategy."

DBS China booked record first-half earnings of 300 million yuan or more than S$58 million this year. That is more than double on-year, boosted mainly by loans growth.

DBS Group chairman Peter Seah said: "We'll probably focus on the lending business particularly in the corporate sector. But we'll be focusing on the consumer market particularly in the mass affluent sector... We think wealth management offers enormous opportunities for DBS."

DBS China added that it has garnered about 20 per cent of the offshore RMB interbank FX market in Hong Kong. This is another area which DBS wants to grow.

Piyush Gupta, CEO of DBS Bank, said: "I see no reason why we can't hold a reasonably significant market share position... I don't expect it to go up from 20 per cent but certainly staying in the high 10s to around 20 per cent, I think we can do that."

In Singapore and Hong Kong, it has booked over US$6.7 billion of RMB trade-related assets as at end-August 2011. This is more than five times that as of end 2010.

DBS China said it is also continuing to recruit, adding staff across all functions and particularly in the areas of consumer banking as well as technology and operations.

Mr Seah said DBS was committed to growing in China despite increasing global uncertainties. He said while Asia was not immune to the downturn, China is expected to reinforce its position as a global economic powerhouse.

-CNA/ac

Tuesday 13 September 2011

Keppel to build world's largest floating crane worth S$143m

By ANGELA TAN


Keppel Offshore & Marine Ltd (Keppel O&M), through its wholly-owned subsidiary, Keppel Nantong Shipyard Co. Ltd (Keppel Nantong) in China, has secured a contract worth S$143 million to build a heavy lift sheerleg crane vessel for Asian Lift Pte Ltd (Asian Lift).

Scheduled to be completed in 3Q 2013, the 5,000-tonne floating crane will be the largest and most versatile heavy lift sheerleg crane vessel of its kind in the world.

To be named Asian Hercules III, the self-propelled vessel will have enough power to lift a weight equal to over 5,000 saloon cars.

Monday 12 September 2011

Understanding Stock Market Risks - Financial Fraud Risk is real! (3)

Read? Understanding Stock Market Risks - Financial Fraud Risk is real! (2)

Createwealth8888: Another one and definitely it will not be the last one! Just for this reason alone we should be wise not heavily weighted in any one counter in our portfolio.

Singapore, 12 September 2011 – Singapore Technologies Engineering Ltd (ST Engineering) wishes to announce that on 8 September 2011, Patrick Lee Swee Ching, currently Chief Financial Officer of Vision Technologies Systems, Inc. (VT Systems), was arrested by the Corrupt Practices Investigation Bureau (CPIB), for an offence under Section 477A of the Penal Code, Chapter 224.1

He has not been charged in Court. Patrick Lee was released on bail and has been granted permission by the CPIB to leave Singapore. He returned to the US on 10 September 2011 to resume his responsibilities as the Chief Financial Officer of VT Systems. VT Systems is the holding company for ST Engineering's aerospace, electronics, land systems and marine interests in the US.

Patrick Lee was previously the Group Financial Controller for Singapore Technologies Marine Ltd (ST Marine). It is believed that the CPIB is investigating certain transactions involving former and current employees of ST Marine. We are aware that two current and one former employee of ST Marine have also been arrested by the CPIB and released on bail. These employees do not hold key management appointments in the ST Engineering Group.

We are unable to provide further details at this time as we understand that the CPIB’s investigation is ongoing. An internal inquiry has also been commissioned with respect to this matter. We will take appropriate action as necessary after the inquiry has been completed and we have reviewed the findings. ST Engineering will make timely announcements as necessary. The ST Engineering Group has been extending and will continue to extend its fullest cooperation to the CPIB in its investigation.

Sabana Reit to acquire 2 properties for S$80m

By CARINE LEE


Sabana Real Estate Investment Management Pte Ltd announced on Monday that Sabana Shari'ah Compliant Industrial Real Estate Investment Trust (Sabana Reit) has entered into two sale and purchase agreements to acquire two properties to diversify its income stream.

In the first acquisition, Sabana Reit will purchase a 217,580 sqft property along Joo Koon Circle from Ringford Pte Ltd for S$40.2 million. Comprising of a two-storey building with mezzanine floor and a three-storey factory building, the property is a JTC leasehold estate with a remaining tenure of 36.3 years.

The second property, also a JTC leasehold estate with 45.3 years remaining on the lease, carries a purchase consideration of S$39.8 million from Winfred Pte Ltd, and is a six-storey warehouse along Toh Tuck Link occupying 180,735 sqft.

Both properties are being sold on a sale and lease basis wherein Sabana Reit will upon completion of the acquisition, take master lease of the entire premises for a term of three years on a triple net basis.

Sabana Reit has paid a 1 per cent deposit for each property and the acquisitions, completely funded by debt, are expected to be completed by the fourth quarter of 2011

Sunday 11 September 2011

Current Dividend Yield is good but avoid falling into potential Dividend Traps (4)

Read? Current Dividend Yield is good but avoid falling into potential Dividend Traps (3)

How to avoid falling into potential dividend trap?

One of good way is to change your view of looking at dividend yield.

Many income and yield chasing investors tend to view dividend yield in this way. So much focus on high dividend yield e.g. 8-10% and less concern on high dividend payout e.g  90%.  Potential capital appreciation is just nice to have.



How about changing your view to this way?


Primarily focus on potential capital appreciation and dividend yield is just the safety net that provides enough cushion if the stock price doesn't appreciate but fall.

Saturday 10 September 2011

Biosensors

Is stock market a zero sum game?

Read? In the stock market where does the Money come from?

What do you think now?

Stock market is not a zero sum game but a great wealth re-distribution game among market players where good winners taking lots of money from the bad losers.

A very special Gift to the newborn Baby!


S$60

Investing Made Simple by Uncle8888 (25)

Read? Investing Made Simple by Uncle8888 (24)

Read? Don't Be a Yield Pig

Who is the Yield Pig? Someone who is chasing for higher yield without seriously considering the risk of capital loss in risk/reward analysis.

Risk, Inflation, and Time Horizon

So what is the risk in stock investing? Capital loss?

So is capital loss the real risk in stock investing? Yes or no. It is actually very much depending on your investing time horizon.

If you are a very short-term investor who will need money next year to fund big ticket expenses. Your risk is capital loss as the stock market may force you into realizing your losses by liquidating your losing positions to raise money to fund your expenses.

But, if you are a long-term investor with 20-year time horizon holding a portfolio of solid blue chips, what is this current paper losses means to you?

Nothing!

Probably, this paper losses may cause you some emotional stress and heartache. That is all! You are not going to jump out of the window. Right?

Risk to a short-term investor and long-term investor is totally different. As a short-term investor, your risk is capital loss so you may like to re-read that article on "Don't be a Yield Pig!" and fully understand it.

But, if you are a very long-term investor, your risk is actually inflation and yield on your portfolio. If you can't grow your portfolio faster enough to over ride the year-on-year inflationary effect. You may be a dead pig at the end of your 20-year time horizon. So don't be afraid to be a Yield Pig if you are a long-term investor.


Bull or Bear?

Just For Laugh .....


The Invisble Hand at play!


Friday 9 September 2011

Average Down or Average Up. Know Your Maths!

Read? Bear market is here. Let's accumulate more by average down? (2)

Before you decide to average down or average up, know your Maths. It is simple mathematics on risks.

Assuming you have 2-3 batches of $10K each to average down or average up.

When you average up, with the $10K per batch purchase you will be buying less and less quantity of stocks on the way up.

When you average down, with the $10K per batch purchase you will be buying more and more quantity of stocks on the way down.

More quantity of stock means more volatility in any unrealized P/L. Guess who will be losing sleep if the stock price keeps falling?






 

Tuesday 6 September 2011

Olam in talks to acquire Indian spices firm: report

By MINDY TAN


COMMODITY player, Olam International is in talks to acquire privately held Indian spices company, Vallabhdas Kanji Ltd (VKL), The Times of India reported yesterday.

Olam - in which Temasek Holdings is a major shareholder - declined to comment when contacted, saying they do not have the practice of commenting on media reports.

The company is in advanced discussions to clinch a deal, said the report, after the Mariwala family mandated an investment bank for a stake sale, citing people aware of the matter.

Vallabhdas Kanji's managing director, Ajay Mariwala told the newspaper that the company has been running a process to bring a strategic investor, and would announce any developments when ready.

Olam has hit the acquisition trail hard since its commitment to double its FY2016 goal to US$1 billion profit after tax (PAT), announced during their FY2011 full year results briefing last week.

Last week, Olam announced the acquisition of an India-based 3,500 tonnes crush per day (TCD) sugar milling facility and a 20MW cogeneration facility by way of Hemarus Industries, with plans to enhance the sugar milling capacity to 5,000 TCD.

Some of the key acquisitions made by Olam to consolidate its position in the spices business have included California-based Key Food Ingredients (KFI) and Gilroy Foods.

In its financial statement, Olam said that the integration of the acquired companies in the spices and vegetable ingredients business (namely Gilroy, SK Foods, and KFI), had been successfully completed and 'they are now co-located together in Fresno, California, to better extract synergies'.

Separately, Olam subsidiary NZ Farming Systems Uruguay yesterday posted a net comprehensive loss for the year ended June 30 of US$ 1.59 million, performing better than the previous year's loss of US$11.29 million.

Turnover almost doubled year-on-year from US$22.54 million to US$43 million.

Cash is King. It is back!

Just For Thinking ....

We have been seeing some people have already cut their losses or cut short their profits to stay cash in hand. They believe that in the current market condition. Cash is King. It is back in fashion.

We have to fully understand that Cash is King only when we can get back into the market to scoop up enough quantity of under valued stocks when market has fallen beyond recognition. But, seriously do we have the ability to recognize that market has fallen beyond recognition. I admit that I can't so I choose not to cut losses to lock in negative returns in my portfolio.

We will never recover from locked in negative returns in our portfolio by holding cash in hand. This cash must be invested back into enough under valued stocks for recovery. It is only when we have succeeded in getting into enough under valued stocks near market low; then only Cash is King.

Monday 5 September 2011

Another Debate On Property Or Stocks Investing (9)

Read? Another Debate On Property Or Stocks Investing - Part8

I often read in the blogs space, forums or cboxes that one of many reasons why you should invest in property is something like this: "The difference is property market won't be like stock market, simply it will not crash to zero value."

Last Sunday, I flipped through one property investment book that was written by a local Singapore author. He similarly said something like this too in his book.

The type of reason given is either naive or misleading.

Investors may dump most of their money into a single property and leverage up; but no sensible investors will dump most of their money into a single stock. Whoever does that must be a dumb. Most likely, they will invest  their money into a portfolio of stocks. A portfolio of stocks will not crash to zero value too. Get it?

Sunday 4 September 2011

Investing Made Simple by Uncle8888 (24)

Read? Investing Made Simple by Uncle8888 (23)

Emotional tolerance for Risk/Reward

In life, we will develop good and bad personal and social habits. We will try to keep good habits and reduce bad habits as far as we could. Similarly, in investing we will develop investing habits. Some investing habits that we have developed may actually hinder us from achieving our long-term investing goals.

Our investing habits are likely to be shaped by our emotional tolerance for Risk/Reward and our pain threshold for sitting through paper losses. It is harder to judge whether such investing habits are good or bad as they are often quite subjective and personal.

So it is up to every individual investor to seriously think about it; honestly examine and evaluate themselves. They can measure and benchmark their investment performance to others in their close investment community to do sanity check and ask themselves. Are these investing habits helping them or hindering them?

One way to know our emotional tolerance to risk/reward is to examine our current portfolio holding. What is the total unrealized losses vs total unrealized profits in the current holding. Are we sitting on too many counters that have unrealized losses of more than 50% and few counters of unrealized profit of less than 20%.

So it is quite clear that investor has low reward, high risk emotional tolerance with relatively high pain threshold of paper losses. He is quick at taking small profits but good at keeping paper losses and slow in cutting losses even he is lacking money to invest.


Next, we may want to look at CAGR or XIRR since investing. A low single digit or negative CAGR or XIRR will tend to confirm it. A low reward, high risk emotional tolerance with relatively high pain threshold may actually hinder you from achieving your long-term investing goals. 

You may want to seriously examine your emotional tolerance for Risk/Reward and see where you are now.


Don't be a Yield Pig!

Read? Got cheated on Land banking, Oilpods, etc?

Read? Bao Jing Trading Bites the Gold Dust

We have cheats on Oil, Land banking, this time is Gold, what next?

Don't be a Yield Pig on non-transparently traded financial products that promised good yield with little risks. Such investment cannot exit in the free market as the owner-holder is not that stupid to easily share it with others.

Saturday 3 September 2011

Olam's US$1b profit target realistic?

Several analysts offer differing views on the giant commodity player's ambitious 2016 goal. By Mindy Tan


COMMODITY player Olam International earlier this week unveiled ambitious new targets - notably, to double its previous goal to US$1 billion profit after tax (PAT) by FY2016.

Olam, which said it would undertake 65 initiatives over 2011- 2016 to achieve its PAT target, has been quick to put its plan in motion.

During the FY2011 full-year results briefing on Monday, Olam - in which Temasek Holdings is a major shareholder - said it was on track to hit its previous target of US$454 million at least two years ahead of schedule.

In a report released on Wednesday, Royal Bank of Scotland (RBS) analyst John Rachmat was the most bullish on Olam, maintaining a 'buy' recommendation, with a target price of $3.80.

'Olam has now demonstrated its ability to grow its earning in both up- and down-cycles in the commodity space. Its sales volume has grown 22 per cent compound annual growth rate (CAGR) over the 2005-11 period and its PAT has grown 37 per cent CAGR over the same period,' he said. 'In my opinion, it is very likely they will deliver on their PAT target. Of course, all this depends on commodity price swings between now and 2016.'

CIMB analyst Lee Wen Ching, however, disagrees. 'We think Olam's US$1 billion target appears slightly aggressive on a core net profit basis (stripping fair value gains on biological assets and negative goodwill), as that would imply a higher CAGR between FY11 and FY16 as compared to what it has achieved so far since listing,' she said.

'Furthermore, it is now growing from a higher base, implying that absolute growth will have to be much stronger to achieve that target.'

Separately, an analyst who declined to be named noted that Olam's PAT target is based on the assumption of potential mergers and acquisitions.

However, given that their palm oil and Gabon urea investments constitute a significant portion of their capital spending, their M&A pipeline might be less intensive than in the last few years. As such, while still positive on Olam's growth, he is less bullish than before.

The group, which said it would undertake 65 initiatives over the next five years to achieve its PAT target, has been quick to put its plan in motion. On Wednesday, Olam announced the acquisition of an India-based 3,500 tonnes crush per day (TCD) sugar milling facility and a 20MW cogeneration facility by way of Hemarus Industries, with plans to enhance the sugar milling capacity to 5,000 TCD.

Following its FY11 full-year results briefing, Olam's shares surged more than 11 per cent on Wednesday. Yesterday, Olam's shares, which have been in the top 20 volume list since Wednesday, saw 9.6 million shares change hands. The stock hit a high of $2.51 in morning trading, before slumping to $2.40. Olam closed eight cents down at $2.41 yesterday.

Commenting on the stock price movement, CIMB's Ms Lee said: 'We believe the stock surged on the first day on strong headline numbers. However, excluding non-core gains, core net profit of $302 million was below both ours and consensus expectations.'

On Monday, Olam posted a 38 per cent gain in fourth quarter net profit to $127.4 million, and revenue of $4.62 billion - a 46 per cent surge from the same period last year

Buy Gold/Silver as insurance or hedge against inflation? (2)

Read? Buy Gold/Silver as insurance or hedge against inflation?

The only Gold that I have is my wedding Gold ring I am wearing.

Wait till I become multi-millionaire, then I will think about it of hedging tool.

Gold itself doesn't pay dividends and can't grow by itself. You really need a greater fool to come along to buy it higher. Unlike investing in stocks, it is the job of CEOs and their Boards to grow the company horizontally and/or vertically. Whether they can successfully achieve it or not is another story.

For example, look at our home grown companies like DBS, Keppel Corp, Semb Corp, ST Engineering, SingTel, etc growing so big and so large that you don't need greater fools to come along to buy it higher. Get it?

See how Keppel Corp grows itself and now it is growing its third wing - Infrastructure.

From its humble beginnings as a local ship repair yard, the Keppel Group has become one of the largest conglomerates in Singapore. Over the years, the Company has evolved into the current structure of focusing on three key businesses in Offshore & Marine, Infrastructure and Property.

From one local shipyard in Singapore to 20 yards globally.

Can Gold Bar grow?


Bull, Bear and The Pyramid - Updated

Read? Bull, Bear and The Pyramid

"Bulls climb up a wall of worry, bears slide down in a slope of hope ."

Understand the emotions in the stock market.


















You may want to learn the simple strategy of overcoming your emotions of greed and fear in the stock market by doing this. A picture says a thousand of words of explaining it.




Thursday 1 September 2011

Two Bank Accounts? No, You may need Four! - (4)

Read? Two Bank Accounts? No, You may need Four! - (3)

My cyber readers, MayBank is now giving you 4 accounts that you need for a peace of mind in investing. hee hee!

Maybank Singapore launches new savings management tool


SINGAPORE: Maybank Singapore has launched a new savings management tool for its deposit accounts.


The bank said that with this innovation, depositors will not need to open multiple savings accounts when saving for different goals and occasions.

This means that depositors can create sub-accounts that reside within their main savings account using this free tool.

Maybank said that for example, one can name sub-accounts as "Paris holiday - S$5,000, by end November", or "Mountain bike - S$2,000, by 15th October".

The bank said it has received feedback from customers that they opened multiple savings accounts to better manage their finances. It added that this will encourage customers to save towards their goals and dreams.

According to Maybank, up to 15 sub-accounts can be created, and depositors will still enjoy the same interest rate in their sub-accounts.

-CNA/ac

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