Marina Bay Sands Update

Las Vegas Sands - the parent company of Marina Bay Sands, had its share prices suffered a 90% decline from it peak... There had been concern whether is's Integrated Resort in Singapore aka Marina Bay Sands will be affected and able to open on schedule in end 2009. Although the company is quite leveraged on debts but most suggest the Marina Bay Sands project is getting strong support from the Government and from local and regional banks which are not so affected by the current crisis.

Its AVP of communications, Mr Robin Goh, said they had not yet felt the effects of the financial crisis and would be hiring 10,000 staff members next year, six to nine months before opening, so they could begin training staff.

So we hope to see Singapore first ever Integrated Resort in action by end 2009...hopefully

Marina Bay Sands Career

Marina Bay Sands which is due to open at the end of 2009 start its first wave of hiring of staff this week.

It is expected to train and hire 10,000 workers to create one of Singapore largest employment for the upcoming IR. Marina Bay Sands is partnering Singapore Workforce Development Agency (WDA), National Trade Union Congress (NTUC) and Employability Institute (e2i) to prepare for the job training.

To find out more, please visit the below site for more detail

Careers at Marina Bay Sands

Warren Buffett's Purchase on Goldman Sach

CNBC exclusive interview on Warren Buffett's purchase of Goldman Sach

Warren Buffett's Purchase on GE

CNBC exclusive interview on the Buffett's purchase into General Electric (GE)

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Warren Buffet Shop for Value Assets

Warren Buffett, the world most famous investor, had been busy "shopping" for value company during the last week. On 01 Oct 08, he announced he would invest US$3 billions in General Electric, a world giant in the industrial sector and one of the biggest non-finanical company. The preferred shares carried a 10% dividend and also Berkshire also expects to receive warrants to buy $3 billion worth of GE common shares for $22.25 each, exercisable at any time for a five-year term.

On 24 Sept 08, he announced he had bought US$5 billion of perpetual preferred stock with a 10% coupon in Goldman Sachs. These shares are senior to both Goldman's other preferred stock and its common stock and that means no other shareholders will receive any dividends until Buffett has been paid his 10%, in full, each year.

The deal also include a warrant (a long-term call option) that entitles Berkshire Hathaway to buy an additional $5 billion in regular common stock, at $115 per share. If Goldman Sachs turn thing around, Warren Buffett will be able to exit with a massive profits in year to come.

"Be Greedy when other are fearful and be fearful when other are greedy" Buffett told PBS...

As up-to-date, Warren Buffett's Berkshire Hathaway had spent US$28 billions this year to acquire companies, finance buyout and purchase securities in the market.

Fed Rescue AIG

On 16 Sept 2008, the U.S. Federal Reserve Bank stepped in to prevent the financial collapse of AIG by announcing its plan to lend the World Largest Insurer US$85 billions in exchange for a 79.9% equity stake.

AIG's top management team including CEO would be replaced. AIG also had a big incentive to embark on a massive asset sale program to pay back the loan with come with a steep interest rate as quickly as possible.

AIG's history dates back to 1919 by when Cornelius Vander Starr established an insurance agency in Shanghai, China to sell insurance to the Chinese. After his business became successful in Asia, he expanded to other markets, including Latin America, Europe, and the Middle East. As today, AIG employs about 116,000 people and operates in more than 130 countries around the world

Its main core business include the Insurance and Finance business, the International Lease Finance Corporation (ILFC) which is the world's largest aircraft leasing company, majority stakes in Bulgarian Telecommunications Company, P&O Ports of North America and substanstial stakes in People's Insurance Company of China, Ocean Finance of UK and more other more

Lehman Filed For Bankruptcy

Global financial markets were shaken on Monday with the news of US investment bank Lehman Brothers filed for bankruptcy protection, citing bank debt of $613 billion.

On September 15, 2008, Lehman filed for bankruptcy protection making it the largest bankruptcy in U.S. history. The next day, Barclays plc announced that they will acquire a portion of Lehman Brothers asset for $1.75 billion which includes the Lehman Brothers Times Square headquarters and the bulk of Lehman's trading and debt security operations, which now become part of Barclays Capital.

Lehman which was founded in as a dry goods store, transform itself as a commmodities trading company to a IPO underwriter and then with a merger with American Express in mid 80s and finally to a global investment firm had finally collapsed under the current credit crisis. Do rem Lehman Bro (1850-2008)

Forbes Global CEO Conference 2008

Singapore was the host for the recent Forbes CEO Conference 2008 where more than 400 global CEOs, tycoons, entrepreneurs, capitalists and business leaders gathered for a annual 3 days event at Sentosa Island. It is perhaph one of the largest and most high profile business event of the year with hundreds of business leader met.

Some of the high profile speakers include

William Amelio of Lenovo, U.S.A.
Philippe Collas of Société Générale Group, France
Tony Fernandes of Tune Group, Malaysia
Juergen Gessler of Porsche Design Group, Germany
Lakshmi Mittal of ArcelorMittal, U.K.
Sir Howard Stringer of Sony Corporation, Japan and U.S.A.
Lee Hsien Loong, Prime Minister, Singapore
Lee Kuan Yew, Minister Mentor, Singapore

and many others....

Check the below link for program detail

Singapore Sovereign Wealth Fund Deals 2008

Recent report by Business Time highlighted a very interesting articles on Singapore two sovereign wealth fund - Government of Singapore Investment Corp (GIC) & Temasek Holding which have been involved in five of the 10 biggest deals involving sovereign wealth funds on record, according to the latest estimates by Thomson Reuters.

Singapore's two state-owned funds have invest billions of dollars into US and European banks since last year. Together, both SWFs accounted for 10 out of the 22 major deals involving sovereign funds this year, until 28 Aug 08

The Biggest Sovereign Wealth Deal is GIC's injection of 11 billion Swiss francs (S$14.24 billion) into Switzerland's biggest bank, UBS, late last December is a sovereign fund single investment record, according to data compiled by Thomson Reuters.

GIC was also part of the consortium led by Spain's Ferrovial Group that bought UK-listed BAA, the world's biggest airport operator, for £10.3 billion (S$26.7 billion) in May 2006. That deal remain as the largest investment involving sovereign funds on record.

This year alone, both GIC and Temasek have made a combined US$9.1 billion worth of investments, more than a third of all deals involving sovereign funds worldwide according to Thomson Reuters estimates.

GIC invests Singapore's foreign reserves including pension savings, estimated at over US$300 billion, while Temasek manages a separate S$185 billion investment portfolio.

Singapore Millionaires

Was reading a recent report by CapGemini and Merrill Lynch World Wealth reported that there are currently about 77,000 millionaires in Singapore with net worth of USD$1M (without consider their first house) in 2008.

Consider Singapore is a population of 4 millions residents, the figures is about 2%of the total population which is astonishing.

Also another recent report by local newsapaper highlighted that there are currently about 2700 individual earning more than a million dollar paycheck annual.

Do visit my Singapore Million Maker article if you wish to learn the secrets of millionaire.

Singapore First Ever F1 Night Racing

Singapore will be hosting the 1st ever Street Night Racing in the history of Formula 1, racing on the public roads around the Marina Bay area, situated in the centre of Singapore's city, between 26-28 Sept.

The night racing is expected to attract more than 80,000 spectators on the viewing gallery and expect another 500 millions viewerships worldwide to watch the event on television. This will boost the profile of our island worldwide esp when Singapore is going to host the 2010 Youth Olympics as well as the opening of our 2 integrated gaming resorts - Marina Bay Sands (est late 2010) and Sentosa Genting (est 2011) which will bring records tourists to booast the tourism sector here.

With update, 95% of the F1 tickets had been sold and STB expects many oversea tourists to arrive during that week not only to catch a exciting historial night racing but also enjoy their lovely stay in the country with food dining and exciting entertainment in the city

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Exchange Traded Fund (ETF)

Was attending a ETF seminar at Singapore Exchange on a sat morning on managing portfolio with ETF. It was organized by SGX, AmFraser and Lyxor where it highlighted about the use of ETF to diversify and adding to your investment portfolio.

An Exchanged Traded Fund is an open-ended investment fund listed on a stock exchange. It's aims is to track the performance of and index or commodity price, buying and selling ETF units on a stock exchange

The parties involved in an ETF include

a) Fund Manager
b) Stock Exchange
c) Participating Dealer
d) Market Maker
e) Custodian & Trustee

Advantages of ETF are

i) Lower transcation cost of brokerage fee and management fee
ii) Intra-day pricing and trading flexibility
iii) Liquidity provided by market maker

The presentation also highlight that most of the fund managers are not able to beat the performance of the benchmark index. So why not consider to be your own fund manager and invest in Exchange Traded Fund, paying less sales commission and management to beat the performance of most mutual fund manager instead

Singapore Exchange ETF Official Site

World Ten Richest Billionaires

Indeed my inspiring video of all time, so I decided to make it the top headline permanently

Ever wonder someday you might be one of them in the forbes list ? So do work hard and work smart in your business, investment, real estate, internet marketing etc to fulfill your billionaire dream

Warren Buffett Interview

Recent interview with the world greatest investor Warren Buffett on his view on recent finanical market turmoil and his experience on value investing.

Super Seven Soverign Wealth Funds

Just read an interesting article from today Strait Times, it mentioned there are over 45 Sovereign Wealth Funds available but specially highlighted the Super Seven SWF with at least US$100 billions in assets each. Here are a closer insight with the Super Seven SWF and their vital statistic from ST June 2008

No 1 - Abu Dhabi Investment Authority

Warchest : US$875 billion
Recent Stakes Purchases :

i) Citigroup for US$7.5b (Nov 2007)
ii) PrimeWest Energy for US$5b (Sept 2007)

No 2 - Norway Government Pension Fund

Warchest : US$396.5 billion
Recent Stakes Holding :

i) Esprit
ii) Kmart
iii) United Oversea Bank
iv) Banyan Tree Holding
v) City Development

And many more...

No 3 - Kuwait Investment Authority

Warchest : US$265 billion
Recent Stakes Purchases :

i) Halkbank for US$209m (May 2007)
ii)Industrial Bank of China for US$720m(April 2007)
iii) Cevahir Shopping Centre for US$750m (Nov 2006)
iv) Merril Lynn for US$2b (June 2005)


No 4 - China Investment Corportation

Warchest : $200 billion
Recent Stakes Purchases :

i) Morgan Stanley for US$5b (Dec 2007)
ii) BG Group for US$250m (Sept 2007)
iii) Blackstone Group for US$3b (May 2007)

No 5 - Russia Oil Stabilisation Fund & National Welfare Fund

Warchest : More than US$150 billions

No 6 - Government of Singapore Investment Corporation

Warchest : More than US$100 billion
Recent Stakes Purchases :

i) UBS for US$10.8b (Feb 2008)
ii) Citigroup for US$6.88b (Jan 2008)
iii) Merril Lynn for US$954m (June 2007)


No 7 - Singapore Temasek Holding

Warchest : More than US$100 billion
Recent Stakes Purchases :

i)Merril Lynn for US$5b (Dec 2007 & Feb 2008)
ii ) Barclays Bank (July 2007)
ii) Standard Chartered

Asia Delicious Food

Singapore Food is regard as one of the most delicious food in Asia... Be it the famous Hainanese chicken rice or the famous Katong Lasksa and the rest of the mouth watering dishes such as Hokkien Mee, Fried Carrot Cake, Mee Robus or Mee Goreng, Singapore Foods is simply non-resistable.

Many visitors simply cannot resist the delicious food in Singapore. Whether it is at local hawker centres, air-con food courts or restaurtant, after you have tasted Singapore Food, it is as if you have eaten all the famous food throughout most of Asian Countries.

Checkout the 2 recommended food sites below to experience the mouth-watering Singapore delicious food feast

Top 10 Singapore Delicious Food

Delicious 5 Star Food Recipes Official Site

It is TIME to do Bottom Fishing

Currently Finanical Market daily movement is simply too voliate to trade and often over-react negatively based on any bad news released by the media.

The best thing to do now is to wait for the stormy weather to be over or if you are a risk taker and have a longer investment horizon of 3-5 years, this may be the time to buy in stages and wait for the investment egg to hatch within the next 3-5 years and exit the investment during the next bull run.

Whether it is the popular China Growth Fund, India Growth Fund, Asia Growth Fund, Singapore Equity Fund etc, if you having holding power with 3-5 years investment horizon view, wait for the storm to be over, you might be rewarded for your bottom picking investment stragetic.