Temasek Sold All of Its Bank of America Shares

It is reported yesterday that Singapore soverign wealth fund Temasek Holding had sold all its shares in Bank of America in the 1st quarter of 2009, resulting in estimated losses of between US$2.3b to US$4.6b.

Temasek's investment n BoA start from its investment in Merrill Lynn which it held a 13.7% stakes. It is later converted into BoA shares in Jan follow the bank M&A of Merill Lynn resulting in a 3% of BoA or 188.8 million shares.

Many interesting views and opinions are share in investment & market talks forum about their massive losses and their so call "long term" investment holding. Do feel free to check them out.

The Credit Crisis I

A very detail but simplifed summary of the current world credit crisis - why and how it happen.

The Credit Crisis II

A very detail but simplifed summary of the current world credit crisis - why and how it happen.

Li Ka Shing Has Spoken !

The Sage of Hong Kong Mr Li Ka Shing has spoken - It is time to buy stocks and real estate

On Thursday, the self-made billionaire who control several top Hong Kong listed companies such as Cheung Kong and Hutchison Whampoa made a rare public appearance and speech to the investors.

The Tycoon says "If you have money in the pocket, connsider buying stocks". For property market in Hong Kong, he said "History tell us if you buy in slow market and in the medium term, you will get a good return.

He did cautious about borrowing to invest in the shaky and volatile market thought.

Resorts World at Sentosa

Recently Resorts World at Sentosa, one of Singapore two Integrated Resorts had seen overwell response for its jobs application. More than 20,000 applications received for the 800 positions advertised during a career fair held 2 weeks back.

Resorts World had had so far hired 400 people, mostly in management and corporate office and is expected to hire another 10,000 workers, the bulk whom will be hired
from this June onwards, when the IR open in 2010.

Batam Integrated Resort Soon ?

It is reported on the Jakarta Post that a second Integrated Resort will be built in the Riau Island of Batam Indonesia after Bintan. It will start construction work next month and target to complete by 2011.

The 15 hectare integrated tourism and business resorts is worth 1.5 trillions rupiah (about S$193m) and will be develop by Pt Grand Uway. It will have a water park with rides and pitched for Meeting, Incentive, Convention, Exhibiton (MICE) trade.

Marina IR on track to open late 2009

SINGAPORE - Singapore's first integrated resort (IR) is on track to open by the end of the year despite the global financial and tourism slump, project developer Las Vegas Sands said on Wednesday.

At least half of the Marina Bay Sands complex, which is located in Singapore's financial district, will be operating commercially at the end of 2009

The resort is one of two integrated projects under development in Singapore. A second one is being built on nearby Sentosa island, which has beach, golf and yachting facilities.

The Marina Bay Sands, with an investment cost of over US$5 billion, was Singapore's first IR project to be awarded, in 2006. Apart from gaming, the complex will also include hotel, convention, luxury retail and performing arts facilities.

(Extract from The Business Time Report)

Singapore Career Fair 2009

One of Singapore biggest Career Fair will be held at Suntec City Hall 6 on the 5-8 March 2009. Many jobs will be offer and at the same time there will be education booths for individual to uggrade themselves for their future.

There will also be seminar talks daily with regards to specialise careers and educational study. Please visit the below site for more detail

Singapore Careers Fair 2009

Ten Investment Ideas 2009

Came across this article from The Edge Singapore and find it very interesting to share with readers. Bargain hunters looking for the best investment deals in the markets have another alternative ideas

1) Investment-grade credits - best bets in bond asset class

2) Cheap value in inflation-linked bonds

3) Stay in defensive equity sectors, avoid finanicals and cyclicals

4) Overweight on Asia ex-japan stocks in 2H2008

5) Bet on China and Hong Kong stockes to outperform

6) Focus on recession winners eg like Capitamall Trust,
ICBC, Bank of China, Ascendas REIT, Keppel Corp,
Sembcorp Industries, Taiwan Mobile etc

7) Stick with high-dividend paying stocks

8) Have gold in your investment portfolio

9) Take a look at soft commodities, seeing support level.

10) Hedge Fund strategy - Global macro and managed futures could do well

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Happy New Year 2009

The year 2008 had been quite a unforgetable bad years for many investors due to the collapse of major international banks hit by the credit crunch. Investors invested in Hedge Funds, Mutunal Funds, Equities, Bonds, Properties and even Currency Fixed Deposit had been badly hit results in depressed portfolio values.

Well, today is the last day of 2008. I wish all the readers a Happy New Year and moving forward in Life with this valuable experience to greater heights in 2009.

S&P Asian Market Outlook

STANDARD & Poor's (S&P) expects Asian markets to rebound next year on the back of a healthier banking system and lower corporate and financial-system gearing.

There is limited de-leveraging to be undertaken in Asia and, thus, the absence of prolonged financial-system restructuring and regional stock market could see range-trading over the short term and re-test the October lows, adding that '2009 is likely to be a market of two halves.

The first-quarter 2009 is likely to reveal ugly corporate performances and this may dampen sentiment in first-half 2009.

With economic growth anticipated to rebound in second-half 2009, Equities are likely to have a strong fourth- quarter 2009 as the recovery becomes apparent and investors begin to re-rate stocks upward.

Based on a comparison with the 1987-1988 market downturn, S&P expects the Hang Seng (HSI) index to hit bottom in 13-20 months' time. The HSI is targeted to hit 15,000 points at the end of this year, wrote Ms Tan, and could hit 21,000 points at end-2009.

S&P also favours China and Hong Kong as their economies are showing more resilience compared with the other Asian markets, wrote Ms Tan, who viewed both markets as 'overweight'. Most of the other regional markets are viewed by S&P as 'neutral'.

She put an end-2008 target for Singapore's Straits Times Index at 2,000 points and the end-2009 target at 2,300 points.

Citigroup Bailout Rescue

US Government unveils a bold plan on Sun to rescue Citigroup, injecting a USD$20B liquidity into the bank and providing guarantee on up to USD$306 billion of risky loans and securities backed by commercial and residential mortgages.

The announcement jointly by the Treasury Department, the Federal Reserve and the Federal Deposit Insurance Corp, is aimed at to boost confidence in the
finanical bank latest hit by plumming share prices in the last week.

The USD$20 billion cash injection will come from the $700 billion financial bailout package in which the government also received an ownership stake.

As a condition of the rescue, Citigroup is barred from paying quarterly dividends to shareholders of more than 1 cent a share for three years unless the company obtains consent from the three federal agencies.

Las Vegas Sands Future ?

Due to the economy downturn, Las Vegas Sands had been hit by finanical difficulties to raise capital and had to suspend Macau project and focus on Singapore Marina Bay project

Resorts World To Open In 2010

Resorts World confirmed on Monday that its project was on track for a phased opening beginning early in 2010. Resorts World development will open as an integrated resort, and not just as a stand-alone casino with include a Universal Studios theme park.

The theme park, casino, four hotels and a proposal dining and shopping area are to open as scheduled in early 2010 with other features of the project will open later.

So expect Sentosa IR to be open as schedule with Universal Studio theme ride to be one of the most exciting features in the year 2010.

Sentosa Integrated Resort Career

Resorts World at Sentosa which is set for an grand opening in 2010 want to hire 2,300 people for it theme park operation - Universal Studios - by 2nd Quarter of 2009, reported by Channel News Asia.

Company spokeman Robin Goh said the firm had started to fill 300 management and supervisory positions and more than one hundreds of them will be sent to Universal Studios in Orlando, USA for 4 months of training. About 200 managers will spend 2 weeks there.

Mr Robin Goh said Sentosa Integrated Resorts will be offering 10,000 jobs with Singapore getting priority in the hiring process. About 3,000 jobs are for the Universal Studios operation here.

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

Careers at Resorts World at Sentosa

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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