Thursday, 30 October 2008

Own Portfolio Transaction:

Bought Babcock & Brown Global Investments @ $0.075 today.

Saturday, 25 October 2008

Sihuan Pharmaceutical Holdings Group Ltd - Secured rights to distribute a ‘popular’ CV drug, Edaravone
• Sihuan Pharmaceutical Holdings Group Ltd (“Sihuan”), a leading manufacturer of cardiocerebral vascular (CV) drugs in China, has been awarded the rights to sell and distribute the already popular drug Edaravone in the PRC.
• Sihuan’s wholly-owned Shenzhen Sihuan Pharmaceutical Co., Ltd. will pay RMB 3 million for the right to distribute the drug for 5 years commencing from 8 October 2008, the date of successful registration with China’s State Food and Drug Administration.
• Edaravone is an active ingredient which protects the brain by quickly eliminating excessive free radicals which are highly reactive molecules occurring in the human body, particularly after a stroke, and stabilizes the patient’s condition.
• The drug is also one of the most effective neuro-protective agents and is in fact, the only neuro-protective agent recommended by the Japan Stroke Therapeutic Guide (2004) for the prevention of brain-cell damage arising from strokes.
• Sihuan manufactures drugs at its own production facilities but also engages third-party contract manufacturers. In addition, it is the exclusive distributor of several drugs for an unrelated pharmaceutical company.
The above is reproduced from Westcomb Research

Monday, 13 October 2008

Swiber breaks into subsea services market - Clinches maiden US$7million project in India

SINGAPORE – 13 October 2008 – Swiber Holdings Limited (“Swiber” or together with its subsidiaries, the “Group”), a world class service provider in the offshore industry, is moving deeper into the lucrative subsea services market. The Group today announced that Kreuz Subsea Pte. Ltd. (“Kreuz Subsea”), a company in which it holds 70% interest has clinched its first Letter of Intent (“LOI”) to provide subseaservices for an offshore project in India with an approximate project value of US$7million.
As part of the project scope of work, the Swiber Group will utilise its recently acquired state-of-the-art Saturation Diving System (“SAT System”) to provide subsea diving support services, including dive personnel, equipment and subsea procedures, for aduration of three months to the customer. The project is expected to commence approximately end of October, when the SAT system reaches the offshore location in India. The subsea services market is an area that Swiber has identified as a key growth driver for the Group, one which is in perfect complement to its core OffshoreConstruction Services (OCS) and Offshore Support Services (OSS).
In a move to further develop and spearhead its subsea business, Swiber incorporated Kreuz Subsea in July 2008. While Kreuz Subsea has already rendered subsea services to its sister companies within the Swiber Group, this US$7 million project represents a breakthrough for the subsea unit being its maiden project for a 3rd party since itsincorporation.
Said Mr Raymond Goh, Executive Chairman and Group Chief Executive Officer of Swiber, “The extension of our capabilities to provide subsea services strongly enhances the marketability of Swiber to offshore customers. With it, we are transformed into a fully integrated offshore player in every sense of the word - from EPCIC to marine support services to subsea services. We believe that our all-round service capabilities in the offshore sector will strongly position Swiber to capitalise on any and all opportunities in the industry.”

Sunday, 12 October 2008

Some of my thoughts ....

It has been doom and gloom for the past few weeks. The world seems to be falling apart. I am sharing some of my experience of the past 1 month or so....

On the share market

I remember one morning my boss suddenly called for a meeting and asked my opinion about the market condition and the directions. I just told him to stay away from the market. Don't look at the index and individual stocks. The time is still not ripe for bottom fishing. We are still not feeling the pinch. So should just wait for more tangible impact such as slowing sales etc.

Not doing anything is also a strategy. I suggest to start looking when the index goes below 1800 and may start buying slowly at around 1500. Worst case scenario is probably around 1200.

On my own share investment

I am glad that many of my counters are now at low 10~ 20 cents. Many others are at 50 cents range. The good news is bottom is near. How much lower can they go? Surely wouldnt drop to 0.005 if the companies are still profitable. 5 to 10 cents would probably be the bottom where all of the negative news factored in.

Forget about fundamental or technical analysis. It is non sense to talk about PE or ROE now. Cheap can get even cheaper.

I just hope they would stay at such levels for a while for me to accumulate more. I really hope for the market to drop further more. If you want to make a lot of money from shares, this must happen. When people complained about high oil prices and rising costs, i gave them 2 options. 1: let the bull continue to charge but u make enough from shares to cover or 2. wait for the whole financial world to collapse and we start the cycle all over again. Sounds simple is't it but this is very true. If the cycle doesnt repeat itself, how are we going to afford to buy a car or condo?

Sometimes i look at people face they are really worried. One senior colleague near retirement age still buying heavily into Keppel and OCBC. My God, it takes a brave heart to see prices dropping like bird poo. I wanted to bet with him that that Keppel Corp would be at $2 to $3! Anyway buffer another 50% from current levels should be just fine. Sounds complacent? Lets wait and see..

If u have a longer time frame and do not borrow to invest, then u should be happy with the current crisis (of course assuming u still keep your job and no pay cut). I am happier by the day and hopefully my job is still intact by the end of this correction. When i think that i might be able to buy stocks that i could not afford before, its mouth watering prospect. This is driving me on..


On asking the central bank to compensate for losses on investments

Sorry to say but i think not easy. I spoke of this with my dad over dinner. His first reaction is. If these people made money, would they pay the government? probably not. When i lost money by investing in companies run by crooks, who will compensate me? Nobody. Just bad luck. You can blame the company management, the analysts and yourself but so what? Life goes on and on...
Greed is the devil.


On personal life

Hey man. Enjoy life. F1 and Liverpool ....


to be continued.....

Friday, 10 October 2008

Closure of Virtual Fund

Transaction of Virtual Fund ~ 10 Oct 2008

Sold: 800,000 HSI 16200 MBL EPW081127 @ $0.94
Overall net gain = $258,430 = 51.7%
Sum invested = $0
Cash holding = $758,430

The Virtual Fund is now closed after achieving the target 50% gain on the virtual capital of $500,000.

Monday, 6 October 2008

Transaction of Virtual Fund ~ 6 Oct 2008

Bought:

800,000 HSI 16200 MBL EPW081127 @ $0.445

Sum invested = $356,000
Cash holding = $6,430
Swiber strengthens foothold in Vietnam; Seals LOI with value worth up to US$7.3m if all options are exercised
SINGAPORE – 6 October 2008 – Swiber Holdings Limited (“Swiber” or together with its subsidiaries, the “Group”), a world class service provider in the offshore industry, today announced that it has successfully sealed a charter contract, worth approximately US$7.3 million, for one of its 5,000 BHP AHTS (the Swiber Ada) in Vietnam. The contract commences in mid October 2008 for a duration of six months and includes options for two additional six-month extensions.
As part of the contract, Swiber’s subsidiary Kreuz Offshore Marine Pte Ltd (“KreuzOffshore”), will charter Swiber Ada to Petroleum Technical Services CorporationMarine Co., Ltd (“PTSC”) to support mooring, berthing, and lifting operations of FPSOsat PTSC’s Truong Son Joc’s operations in Vietnam. PTSC is a member of the PetroVietnam group of companies.
This latest charter contract comes swiftly on the heels of Swiber’s successful entry toVietnam in July this year as it secured its maiden offshore construction project with state-linked Vietsovpetro (“VSP”). Says Mr Raymond Goh, Executive Chairman and Group Chief Executive Officer of Swiber, “The opportunities in Vietnam’s offshore industry are extraordinary and Swiberis off to a great start, first with our offshore construction project with VSP in July and now with this offshore marine charter with PTSC. And we are determined to further strengthen our presence in the country with the help of our partners.”
In September 2007, Swiber had formed non-exclusive cooperation agreements with two Vietnamese state-linked oil and gas companies, Vietnam-listed Petrovietnam Construction Joint Stock Company (“PVC”) and VSP. The goal was to jointly explore opportunities for exchanging information, cooperation, and technical assistance inorder to foster mutual development and strengthening of the parties’ position in the oil and gas industry in Vietnam and overseas.