Thursday, July 31, 2014

HONG LEONG INDUSTRIES (HLI MK) Tapping On The Growth Of Hume Cement

We are increasingly positive on the growth prospects of Hume Cement, underpinned by its plant’s improving efficiency and a potential doubling in production capacity to cater to more markets. Given the relatively lofty valuation in Narra, investing in Hume Cement through HLI (HLI investors to receive 1.08 Narra shares for every share held) could be a more attractive option. Upgrade HLI to BUY with a higher target price of RM7.95. WHAT’S NEW • Increasing target price to RM7.95. As we are more optimistic on the operational efficiency and utilisation rate of the Hume Cement plant 18 months after production commencement, we raise our forecast for Hume Cement’s 2015 net profit to RM70m (from RM55m) and thus Narra’s 2015 net profit forecast to RM80m. Pegging at a higher 18x of (previously 17x) 2015 PE for Narra, our SOTP target price for HLI is raised to RM7.95, from RM7.16. • To double cement production capacity in 2 years’ time. We understand Hume Cement’s plant utilisation rate has hit 82-85% and the company intends to double the capacity via Phase 2 expansion adjacent to its existing plant. This potential RM500m-600m expansion will see Hume Cement’s capacity surpassing that of some peers (potentially becoming the third-largest cement player) and improving its economies of scale. After ramping up its capacity, Hume Cement plans to penetrate the southern regional markets which it has yet to have a presence. And in the longer term, it may also consider moving downstream to the ready-mix cement market. • Potentially to use par value for share price adjustment. Separately, we understand that so far, Bursa seems to have no issue with HLI’s proposal to use the par value to adjust its share price to reflect the distribution of Narra shares to HLI shareholders (1.08 Narra shares for every HLI share). If so, after the shares go ex Narra distribution, HLI’s share price will be adjusted by RM1.08, which is significantly lower than the potential distribution value of Narra of >RM5/HLI share (based on Narra’s present valuation). STOCK IMPACT • Restructuring exercise expected to complete in end-September. Management is hopeful of completing the restructuring exercise by end-September. The company is currently waiting for the court’s approval for capital reduction and distribution. Hume Cement doing well in FY14. After achieved an impressive RM7.8m net profit in FY13 with only one quarter of official commissioning production, we understand Hume Cement is likely to achieve more than RM50m net profit in FY14. Moving into FY15, we believe the higher utilisation rate and gradual improvement in efficiency will allow Hume Cement to see further bottom-line improvement. Hume Cement’s good limestone reserves make it more efficient than peers who source for limestone externally. Our 2015 RM70m net profit forecast assumes 1.6m-tonne production and RM295/tonne net selling price. • Expecting sustainable earnings and dividend payout post restructuring. HLI’s earnings are sustainable or stronger in FY15-16, after stripping out Hume Cement’s ICPS and Hume Concrete. We expect better prospects from its other building material segments (significant turnaround at Guocera tiles division as well as additional capacity and better pricing in the fibreboard business) to offset the exclusion of Hume Concrete’s earnings from the group. In addition, Hume Cement currently does not contribute any earnings to HLI’s bottom line, with the exception of dividend income from the ICPS. • Prospective dividend yield of 4.7-5.2%. While there is no formal dividend policy, management guided that HLI will continue paying out at least 50-55% of its earnings (FY15F DPS of 27-30 sen). This implies a prospective yield of 4.7-5.2% after HLI’s share price goes-ex, assuming a RM1.08 share price adjustment. EARNINGS REVISION • No change to our earnings forecasts but we increase Narra’s 2015 net profit forecast by 23%. VALUATION/RECOMMENDATION • Upgrade to BUY with a higher target price of RM7.95, derived by adding: a) the implied value of Narra share at RM3.39/HLI share (HLI’s shareholders will be receiving 1,080 Narra shares for every 1,000 HLI shares), and b) a 20% holding company discount to our SOTP valuation of RM5.70 for HLI’s remaining assets. Our valuation methodology is unchanged and we revise Narra’s 2015 PE valuation from 17x to 18x. • 18x 2015F PE for Narra is reasonable. We deem an 18x (previously 17x) 2015F PE for Narra is fair, given that peers are trading at an average of 19x 2015F PE. Furthermore, we believe Hume Cement has better growth prospects as it plans to significantly raise production capacity in the intermediate term.

Saturday, July 26, 2014

会派发高股息的“奶牛股”才是好股,12间高股息(平均7.51%)的公司一次看透透。

From:http://harryteo.blogspot.com/2014/07/76212751.html

什么是股息?股息就是在你买了一间公司的股票之后,公司就 会在1年派发几次给投资者/股东。上市的公司何其多,但是业绩良好又定时派发高股息的公司却不多。因此,很多喜欢长期持有的投资者都会选择奶水充足的“奶 牛股”。为什么会叫奶牛股呢??因为公司就像奶牛一样,为投资者提供的股息就是奶水咯。派发越多股息的公司,就会受到越多投资者的追捧。

我老婆喜爱稳定的投资,所以我准备了这12支奶牛股给她参考。希望她不要辜负了我的一片苦心。请容许我“老张卖瓜,自卖自夸”。有我这么好的军师,老婆大人可以省却了许多的时间去做研究。也希望我的分享可以让更多人了解股市,从中赚取一些买菜钱或者私房钱。

Harry吹水分析站:

  • REITS的股息一向来都很高,所以我把reits排出在外。
  • 上面的公司我只持有Matrix,以前也曾经短期持有过Padini。个人认为这两支股都拥有不错的前景,大家不妨自己研究研究。
  • 其实里面大部分的公司我都不是很熟悉,Atlan做什么我也不清楚。
  • 不过CVIEW,ATLAN以及SHL这3间公司今天一度冲上了10大上升榜单。所以高股息的公司还是很受投资者欢迎的。
  • 值得一提的是SHL在这个星期3天里上涨了80仙,也就是35.4%。真的是有够夸张,想知道原因请读今天的星洲日报。如果不是股价突然飞涨,SHL的股息可是高达8%以上。不过我觉得它的股价会在这个星期继续飞涨,让我们试目以待。
  • BURSA的股息一向很大方,美中不足是股价却没有什么涨幅。
  • 从上面的图表我们可以看到高股息的公司受到许多投资者的喜爱,所以股价的涨幅高于综合指数。今年12间公司股价的平均涨幅是18.19%,平均周息率是7.51%。
  • 两者加起来就有25.7%了。虽然这种算法的准确度不高,但是总体来说还是非常吸引人的。


总结:

今年开始我积极在找高股息的成长股,这样才能快点达到财务自由。现在我的资料库里有250间公司的股价走势,股息数据。希望在这个RAYA假期可以增加到300间公司以上。然后在3年内可以收集完马来西亚股市900多间公司的数据,并improve我的数据库。共勉之。

美联储通讯社:美联储将持续收缩QE 加息争论愈演愈烈



素有“美联储通讯社”之称的《华尔街日报》记者Jon Hilsenrath发文称,美联储在即将召开的货币政策会议上可能会持续收缩QE,并讨论何时、以及如何提高利率。(更多全球财经资讯,请加微信号:wallstreetcn)
下周三(7月30日),美联储将召开为期两天的货币政策会议,最终决议将于北京时间7月31日凌晨02:00公布。预计官员们将进一步缩减QE,市场预期购债规模将从上次的每月350亿美元缩减至每月250亿美元。
尽管美联储官员对缩减QE无异议,但在加息问题上仍存分歧。目前,针对2008年开始的近乎于零的超低利率合适提升尚未有明确的统一意见。不仅如此,官员们关于加息时点的争论愈加激烈。达拉斯联储主席Richard Fisher本月初曾表示,
我发现,自己与一些同事对政策的分歧越来越大。
包括美联储主席耶伦在内,Fisher的很多同事希望避免加息,除非他们确信经济已经具备坚实强大的基础。目前,大多数FOMC委员预计首次加息将在2015年某个时候。
本月早些时候,华尔街见闻网站提及,Fisher称美联储需要在明年年初“甚至更早”加息。芝加哥联储主席Evans认为,若有需要,短期利率接近 于零的水平甚至可能一直维持至2016年初。耶伦则称,“几乎所有”FOMC官员预期首次加息会在2015年某个时候,目前对于2015年年底联邦基金利 率的预期中位数值为“1%左右”。
Evans还强调,加息前通胀必须接近2%的目标。当前,美联储青睐的通胀衡量指标已经连续25个月低于2%的目标。而5月和6月的CPI数据被市场视为“暂时的”。此外,美联储关注的就业市场近期表现强劲,6月失业率触及6.1%水平。
Jon Hilsenrath指出,许多投资者预计美联储在明年年中前都不会加息。而包括耶伦在内的很多美联储官员强调,提高利率的时机取决于经济。
关于今年第二季度经济增长的最新预测值,以及过去三年的GDP增速修正数据也将于7月31日公布。这些数据可能影响官员看待经济的立场。
在本次会议上,官员们还将讨论当时机成熟时美联储的加息方式,衡量届时将使用何种政策工具及组合。
Jon Hilsenrath认为,已经摆上台面的问题之一还包括:美联储何时开始缩减规模达4.1万亿美元的资产负债表。
美联储将到期债券的收益购买新债券,以阻止资产负债表规模减少。但最终美联储将停止再投资行为。在最近一次会议上,多数官员同意在加息之后再迈出这一步。但该协议和其他方面的退出计划还没有最终确定

交易價20億 傳李嘉誠售大馬5商場 0 0

香港首富李嘉誠旗下長江集團所擁有的ARA亞洲金龍基金(ADFI)傳言已委任一家產業代理為旗下5間大馬購物商場尋找買家,交易價將超過20億令吉。
http://www.pocketimes.my/node/150

Tuesday, July 22, 2014

Half-year 2014 review on my NWC stocks.

As we approach July2014, market seems to be in euphoria status, and building up higher risk I think.
S&P in all time high nearing 2000 points, so is Dow Jones nearing 17,00. While having said so, both still above their 50MA, I've done some quick check on our KLCI also, which gives us same result. So for time being seems like everything is ok. Will there be any "Black Swan" effect soon?

In view of higher risk building, my strategy is simple. Stick to stock with highly defensive nature, almost recession proof, and also by using Net Working Capital way of stock picking, we are mostly safe when crisis hit. But you will be surprise also, human's emotional reaction will be extreme most of the time when market panic selling. This is the time when we go BIG! Thus, I would suggest building up reserve now, while stick to industry where I think can be recession proof:
Education-even in the toughest time, people will not give up education, because it is the way where one can change his own life and improve their living.
Utilities-Most utilities are recession proof due to its necessity nature, water, electricity are important factor for living.
Internet connection provider- It is a necessity in 21st century,almost the same as utilities.
General Insurance company-While people argued we can buy lesser insurance during tough times, but most of the countries nowadays enforce people to buy insurance for liabilities, such as car insurance, fire insurance. The basic insurance cover is made compulsory.



Chart forS&P 500 (^GSPC)
Chart forDow Jones Industrial Average (^DJI)

Now, lets review our performance for this 1H2014:
As you notice we have the purchase timing and prices in top right corner, below are timing of our purchases:
2013
Dec-ILB@0.72 ;PMCorp@0.24

2014
Jan-PMCorp@0.23
Feb-ILB@0.775, OSK@1.62

Apr-Pmcorp@0.215
As of latest prices, ILB traded RM0.845(+9% from the highest price we bought @RM0.775);PMCorp traded RM0.23(almost no gain or losses,luckily average some at RM0.215 during April time) ; OSK traded RM1.88(+16% from RM1.62)
I would consider myself lucky on above results, as market has been building up higher risk. I actually expect some losses to come near term as I thought the market will come with some correction after almost a year of non-stop bull run. I barely see any huge correction from the market, this is the most surprising thing I've ever experienced. Probably partly due to our Ringgit:Dollar strengths at current 3.20?

Anyway, I'm currently monitoring a few companies: Jobstreet, GBH, Keladi, LCTH, FACBInd.
I will share more on Jobstreet in near future, most of these companies are net cash, but not really attractive like ILB,PMCorp where net cash per share after total liabilities is even higher than their current market price. The same goes with FACBInd, however as I've mentioned earlier in other posts, I have some concern over how the management manage the funds as they have been using the money to fund another related company Kbunai which I do not have preferences.  Yet, I might review this is near future once I can get better picture.

I will review GBH-Keladi soon as the news is already out today and there will be most action in near future I think and they will be interesting.
-----------------------------------------------------------------------------
For dividend:
1。FPI-Div yield around 6%, 已经稳定派息好几年了。
2。Marco-Div yield around 9%,过去两年较高。不过应该可以稳定派4%
3。Parkson-不是派现金,但是派股票。 3:50,换算回来大概6%dividend.

For Asset play:
1.GSB Group-Sinma injecting property development into company? Will pump share price up a lot.
2.Mulpha-lots of land in Johor
3.Jobst-Buy after giving special div of RM2.40 or above.

Once in a lifetime? JOBST-ALL IN!

 http://networkingcapital.blogspot.com/

I have monitored Jobstreet.com since 2 years back, but there's no good entry point for me. As this stock is actively monitored by most fund managers. When opportunity arise, the price is quickly taken. I can say its P/E has all the while be around 20.
But recently SEEK's offering of takeover Jobstreet Pte Ltd, which includes most of Jobstreet.com sites in Asean countries offer us an opportunity to relook.


First, the offering is around RM1,740mil, company offer around RM1,700mil payback to shareholders via dividend. According to proforma IV , it will become around 707,953,000 share outstanding after some share offering to gain back Jobstreet filipino's minority, and also some ESOS shares.

Thus, by calculation, it is near RM2.40 on this dividend paying back to shareholders after the deal goes through. Recently, it has announced another dividend of 0.5sens.

Well, the question lies in where is the golden goose? Look at what are assets left over after takeover offering by SEEK.

Do some studies, refer to pg100.

Actually, Wisma Jobstreet bring my attention most, because it is around prime area, and it is physical object I can see and touch. Wisma Jobstreet in Sultan Ismail valued RM14mil during 2011. So by dividing RM14mil/707.95mil(proforma IV S/O)=RM0.02/share

Building alone worth us the cost of investing now @ RM2.42. Look at listed companies shares they own:-

I have done some background check on their prices and also earning quality of these companies.Out of all, 104 Corporation in Taiwan provide stable profit, same to 1010 printing Group. A quick study on prices, I've valued all these companies near RM129mil. Dividing this to Proforma IV, RM0.18 is my valuation on assets. Also, 1 thing to note is Cinderella Media is undergoing some corporate action of dividend in species to distribute their 1010 printing shareholding. Also, Cinderella Media's recent profit is deteriorating as well, thus I would rather not give it any value moving forward.

---------------------------------------------------------------------------------------------
One important thing to note is company is not allowed to be involved in the same industry of Jobstreet.com-which is recruitment and some related businesses once the deal went through for 2 years. Thus the minor Jobstreet.com I think either will have to cease operation or be sold soon.

And company will fall into PN17 for sure without any core businesses while they have sometimes to find a new core businesses for the company. The name "Jobstreet" cannot be used also in future as SEEK bought the copyright of Jobstreet also.

But looking back at the founders' profile, I have confident this management can create more value to shareholders in future. And to be honest, I think there will be nothing to lose even buying at current price. If deal does not go through, we still keep a growing company, expanding into the regional almost covering whole Asia except in China which is no present yet, with some minor efforts in Japan, Thailand etc.

If deals goes through, you have the building as the back-up. If management fails to seek any core business(which I think impossible), they will sell all things and return the funds to shareholders. Building alone worth RM0.02. So it is almost risk free now.

Most encouraging part came on below announcement:-
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1673365
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1665889

"Subject to an agreement on any adjusted terms of the JobStreet SSA with SEEK Asia Investments Pte Ltd and fulfilment of all conditions precedent under the JobStreet SSA, the Proposed Disposals are expected to be completed in the third quarter of 2014."


"The Board had on 12 May 2014 announced that the CCS is further investigating the competitive impact of the Proposed Disposals in Singapore and entering into a Phase 2 review.
The CCS has on its media release dated 14 May 2014 announced that a Phase 2 review can take up to 24 weeks to complete and at the end of the Phase 2 review will decide whether to issue a favourable or unfavourable decision.
As at the date of this announcement, the Phase 2 review is still ongoing and is not anticipated to be completed by 1 July 2014. Accordingly, without prejudice to JobStreet's rights under the JobStreet SSA, JobStreet and SEEK Asia Investments Pte Ltd are in discussions to agree on an extension to the Long Stop Date under the JobStreet SSA and an adjustment to the consideration given the improved operational performance of JobStreet since a valuation of MYR1,730 million was agreed.
Subject to agreement on any adjusted terms of the JobStreet SSA with SEEK Asia Investments Pte Ltd and fulfillment of all conditions precedent under the JobStreet SSA, the Proposed Disposals are now expected to be completed in the third quarter of 2014. Further developments on the above matter will be announced to Bursa Malaysia Securities Berhad in due course."

Sunday, July 20, 2014

Stock market is to win

Stock market is to win or atleast don't lose and not even a draw. If have to choose between draw or lose, draw is a better option of the two. One should not lose money in stock market, period. If stock market is to lose money then why bothered to join the party. If one goes in with the mindset that one could lose money, then it is a wrong mindset before even take the first step into the stock market. If you go in with the mind of "how much will be my return in one year" or whatever years for that matter, then you would not lose money. It is easy than said, you may ask. Of course it is never easy. Who said success is easy. One has to work hard for it.



 

You have to choose the best stock among the good stocks. Choosing good stock is easy. There are plenty of good stocks around. Don't believe? Look at all the stocks recommended by experts. There are countless stocks to pick. Don't tell me those stocks that are so recommended are not good stocks. Not believe in any of those? Then why read their reports again and again whenever they publish their reports. Again, if you don't believe any of their reports, who to believe then? Believe ourself, some might say. Granted but the honest truth is often time we believe the next person's stock recommendation rather our own. So much so we may want to believe that we are actually believing ourself but in fact we are following the next person's stock recommendation. Don't believe? Now, ask yourself why you buy a particular stock? Most often than not, we decided to buy that particular stock after we have evaluated ourself of those stocks which were recommended by so and so. Yes.... recommended by so and so. We merely did some self-evaluation on the stocks that were recommended by the so and so. No? If no, then you are stock expert. This is because you are able to choose and pick your own stocks without following any person. This is just like you choose your own girlfriend or boyfriend without being recommended by your parents. Ofcourse your pick must be also able to give you good returns or in the case of choosing your own girlfriend or boyfriend, your self-pick must give you a good husband or wife. Then your are stock-pick expert. Of course there is no such thing as being a boyfriend/girlfriend-pick expert.

 

 

I take a reflection why I blog about my stock pick. My intention is to educate the new people in the stock market to learn the proper way make money. Some of them are young people. I believe many of them want to learn and make money in the long run. They have some money but worry to lose them in the stock market and at the same time want to make money. I was young once and therefore I know. I lost money before and big one too. I had learned my many mistakes. Those mistakes were painful mistakes but it made me a wiser person when dealing with stock market. I am trying to show them the proper way to make money from stock market. So, for those who thought of making money in no time, you have to find somewhere. UncleZ is no stock expert for quick gains. Atleast not from this blog.

 

For those who have followed me since Presbhd, OCK, DSonic and recently Hovid, I hope you have learned a thing or two about stock market. Making money is one thing, learning the stock market goes a long way.

 

Anyway, enough for grandfather story for now. Presbhd touched new all-time intraday high of RM2.33 on 18.07.2014 but unfortunately the price did not sustain but retraced to close at RM2.23. I don't feel disappointed at all. Nevertheless it is still an all-time high close, mind you. If you have been long term with Presbhd, this new high will just add more smiles. On OCK, what more to add. My golf buddy told me yesterday he is prepared to let me win on our bet deal. Here. As for Hovid, ah Boy texts me to say thank you UncleZ. My reply to him is "Make money is just small part, it is what you have learned from the stock market goes a long way and enjoy it". Here.

 

Parting shot, if these stocks still not enough to make good money, what else more. Probably you are busy with shorting and trading stock and that is why gains from these stocks are just small flies.


Good luck.

 

Its price (Presbhd) closed at RM2.23 on 18.7.2014.

Its price (OCK) closed at RM1.53 on 18.7.2014.

Its price (Hovid) closed at RM0.44 on 18.7.2014.

Monday, July 7, 2014

投资没有早知道

美国人万众一心,为今年的独立日(7月4日)带来了一份珍贵的礼物。
就在独立日前夕,美国道琼斯指数7月3日收1万7068点,创造了历史最高点。
这之后,是套利还是继续冲前,我们不知道。我们更关心的是,破纪录时,你在哪里?
哦,是了,我们要说的是,如果富时大马隆综指破1900点时,你在哪里?历史性的2000点,你又在哪里?
早在几年前,黄金十年专栏成立时,说的就是这十年黄金时段。
当时,我们不敢妄自尊大,只是希望平平稳稳的以至少7%的平均回酬度过每一年,缔造十年双倍回酬的历史。
当我们开始时,股市也是在挑战历史新高,3年半以后,股市还是在挑战历史新高,巧合吗?
这绝不是巧合,这是我们在当时拿出勇气出来投资的成果。
如果创新高后,就是探低,那么,这个股市,也未免太容易预测了。
不管是高还是低,只有不停的调整脚步,才能与时并进。
有人说,既然已失去了1200点到1900点的机会(因为他一直看坏股市),那么为了不犯错,只有继续看坏市场。这样一来,总有一天他会预测正确。
不管牛熊守住市场
我们觉得,争论点不在于你对还是错,而是在于你的资产或财富能否与时增长。
如果他坚持下去,4年后股市真的垮了,他是否真能把握到机会买入?或是依然在预测何时最低,酌量入场?
很有经验的投资高手告诉我们,不管牛市还是熊市,他们从来就没有离开市场,信不信由你。
投资组合跟进
CLIQ能源凭单表现最差
前一周说到表现最差的CLIQ能源凭单,有读者询问,明知这只股票不属于基本投资型,为何还要冒险投资?这似乎更像投机,乖离了价值投资的定义。
更糟糕的是,还大量购入了寿命甚短的凭单,3年的寿命已过了1年多,很快大限已至,看你怎样个死法!
看来,CLIQ能源庸庸碌碌过来一年,已经引起SPAC股投资者的大为不满,也让一些不看好SPAC的投资者额手称快。
让我们先澄清前面那番说词。首先,我们要去掉“明知”这两个字。投资世界只讲风险和回酬,没有“明知”还是“暗知”。
其次,我们买股票,目的是赚钱,或者达到比通货膨胀更高的回酬率。说到成为价值投资的表表者,健诚或许有这个念头,我绝对没有兴趣。
在股票行阅尽行行色色人物,想要成为价值投资一代宗师的人少之又少,很多其实是和我们的想法一样:赚钱,赚比一般投资更好的回酬。
因此,别看到一个专栏,就把价值投资的大帽子盖上去,是类高帽,送给大师如陈鼎武或冷眼等前辈好了。
顺带补充一下,买入CLIQ能源或凭单,健诚其实是始作俑者,他的激进心态,在我看来,价值投资派系里他其实不入流。
正确机率多才能成功
所以,总括一句,我们只是平民散户,通过本身对投资的喜好和研究,希望(努力)在股市中挣到不错的回酬,什么大师专家,受之有愧,不必对号入座。
不论我们做什么决定,都会诚实的面对结果。投资组合不是考试,不能每次要求一百分。
这三年多来,我们确然做了一些低级错误,不过也做了更多的正确决定,所以我们才能获得如此不差的成绩。
现实生活里,错和对总是交叉发生,每次都做对,不叫“成功”,那是“完美”,是每个人追求的境界(却不大可能达到)。
成功的投资者,只需要把正确的投资机率更多发生就是了。
若影响生活应卖掉
奉劝各位读者,如果一项投资过于激进,甚至干扰到你的起居饮食,比如不小心在40仙买到CLIQ能源凭单,看到如今的股价,睡又不安稳,吃东西也没滋味,那么,建议你忍痛卖掉它,转买合成统一还好。
为了利益而失去健康或者人生乐趣,怎么值得?
最后,说回我们对CLIQ能源的决定:我们还没放弃它;组合回酬至今还有12%,如果它近来有所表现,算是锦上添花。
免责声明
除了股票基本面,本文内容纯属虚构,所有提及股项纯属学术上或经验上的建议,读者若有兴趣投资,应该自行深入研究或询问股票经纪才决定,盈亏自负。我们鼓励通过正确的投资方式创造财富,文中的建议,都有一个完整的买卖纪录。
草根牛马
 

超級富豪家族的投資回報率

我們這些中產階級,如果有錢,不是用來買股票,就是用來買自住樓宇,如果再多一點錢,就去買樓收租。以上這些,是中產階級的想法,然而,究竟有錢人的投資方式是怎樣的呢?
我的好幾個朋友,靠着買樓和炒樓賺得了第一桶金的,這些朋友們,都是十億八億身家左右,都喜歡買舖來收租。根據他們的說法:「如果買普通樓,一間值幾百萬,幾十間先至得一億,收租簽租約都搞到手軟,十億貨,點管理呀!」
我問:「如果買豪宅呢?它們和舖一樣,都是一億幾千萬元一間啫。」
答曰:「買舖沒有折舊,不用裝修。如果出租豪宅,連裝修傢俬,隨時一年的租金化為烏有,舖位便沒有這個煩惱了。」

說到眼光長遠,李嘉誠應該最高明,長和系持有眾多基建項目,回報率比物業商場高得多。

至於搞地產最叻的「新鴻基地產」,最重要的資產,莫過於商場和甲級商業大廈:從國金到圓方,夾在維港兩岸,就是「新地」旗下的兩顆明珠。無獨有偶,「怡和 系」旗下有中環的七幢甲級商廈,以及置地相連的大型商場,「太古系」則有太古廣場的酒店、商廈和商場群,包玉剛家族的「會德豐」也擁有時代廣場和海港城。
以上的這些優質地產,當然都有固定的孳息,有數得計,世世代代,永享富貴。不過,地產收益,受着盛衰周期的影響,並不完全穩定,在苦日子時,收益就會很低,就是在好日子時,收租的回報也不甚高。
如果說到眼光的長遠,李嘉誠應該是最高明的,想來會比以上的諸間公司都勝上一籌吧。然而,李嘉誠的「長和系」是持有甚麼資產呢?
答案是在香港、歐洲、巴拿馬等地的碼頭、電訊、水電設施等等的基建項目。這些基建設施,是固定的收益,回報率遠遠比物業和商場收租高得多,也穩定得多。當 然了,在香港這個畸形的地產霸權市場,建商場和甲級商廈,一邊收租,一邊等升值的「新鴻基模式」回報率,也許更勝於「李嘉誠模式」。然而,別忘記,「新鴻 基模式」只是在香港這種畸形的客觀環境,才能如此成功,但「李嘉誠模式」,卻是放諸天下皆準的。
如果論到老牌家族,應該是以歐洲的羅富齊家族,是最佳的例子。
羅富齊家族在歐洲有很多的城堡,都是不出租的,沒有回報,在全世界有很多的森林和礦山,可是從不開採,也沒有回報。羅富齊家族根本不缺錢,也沒有想買的東西,要高回報率,又有何用?
簡單點說,如果一個富豪的投資講求回報率,他的財富其實還未夠班。

Sunday, July 6, 2014

KLCC 区 6 大天价公寓!

公寓也有分好几种类型,这一次分享的已完工豪华公寓,是位于吉隆坡黄金地段之一,邻近标志性双峰塔的公寓。现今的人多数选择购买公寓,因为除了完善的设施,安全性也比较高。现在就来看看这6大豪华公寓,照目前市场的价格来说,绝对惊人!

6.  St Mary Residences (RM1,100,000 – RM3,743,850)
1-1
1-2
创新的建筑设计包括:宽敞的玻璃窗,从不同的角度链接来呈现城市最美的景观。在St Mary的中央有52,200平方英尺的中央公园游泳池、应有尽有的设备以及只提供给居民的俱乐部。此外,也提供双层便利店,以满足居民的日常需要,将便 利性提高。一平方尺的售价约1450令吉左右,以都市化、时尚和高雅,以及永久产权的卖点吸引各方买家。
资料来源:瑞投咨网
照片来源:stmaryresidences.com







5.  Quadro Residences, KLCC (RM1,600,000 – RM2,000,000)
2-1
2-2
每个房间与客厅都有整面落地窗,具有捕捉绝佳风景的开阔视野。室内布局优,呈现经典的现代设计和装 修。一楼大厅超级挑高显气派,顶楼还有面向双峰塔的25公尺无边际游泳池,另有健身房和酒吧。1500令吉一平方尺,而最大的单位是2343平方尺。虽然 建筑的外表看起来像一般的办公大楼,但是胜在地理位置优越,而且是永久产权。
资料来源:iproperty
照片来源:klcccondominiumscnyes.com

4.  The Avare, KLCC (RM3,000,000 – RM8,150,000)
3-1
3-2
光是高楼的外表就能察觉这是一栋富有设计美感的超级高档豪华公寓。公寓外观呈蝴蝶形设计,因此住户随时都能享受180°的城市风景。每一层只有两户人家,所以单位密集度会比其他公寓来得更低,也更有隐私。
公寓里呈现双层的设计,所以每一户都拥有3800 平方尺,非常宽敞;另有2户特别户则是7600平方尺的顶层公寓(penthouse),备有私人泳池。每平方尺售价介于3.9 – 11.9百万令吉。其奢华的6星级设施,包括住宅管家和私人豪华轿车服务,价格贵得吓人可想而知。
资料来源:propwall
照片来源:wikimapiaiproperty

3.  The Troika (RM1,821,150 – RM6,600,000)
4-1
4-2
每平方英尺售RM2200,是大马第一家采用设计精品概念的豪华公寓,坐落于吉隆坡城中城公园地区。如此有心思的设计是为了确保每个人都会油然而生“哇”的感觉。
Troika三幢高楼由两座双层楼高的天桥(外部有超大玻璃罩保护)衔接,形成一个宽阔的空中大厅,内设世界顶级餐厅、休息室、功能厅和各种专属服务等。
资料来源:智房

2.  One KL (RM3,900,000 – RM7,564,900)
5-1
5-2
让人羡慕的莫过于每一户都有自己专属的游泳池,随时随地都能畅游,而且也是大马目前唯一一栋拥有这 概念的公寓,因此房价也是贵得吓人,每平方尺要价RM2000!这奢华昂贵公寓都至少有3000平方英尺的总建筑面积。室内还附有能容纳超过100双鞋的 鞋柜,让爱买鞋的你也疯狂!
资料来源:安居@KLCCiproperty
照片来源:onekl

1.  The Binjai On The Park (RM3,880,000 – RM10,060,000)
6-1
6-2
The Binjai On The Park是一个由KLCC集团发展的高等酒店式公寓,位于KLCC公园隔壁,窗外能欣赏千坪绿意景色,让人有种置身于郊外的感觉,而这也是这栋公寓最大的卖点,每平方英尺以RM2600出售。
公园是保留区,相信在未来的日子里,不会有其他新高楼阻挡住户们欣赏美景的视线,因此市价会持续上升。
照片来源:skyscrapercity.com

Ratio Of Ministers To Population & GDP

The following table, well, its self explanatory. Figures may not be exact as they have been culled from Wikipedia. Still,  very interesting factoids. Well, just look at the red category, must be feeling good to know we are in that. Great company we have.










Country
Year
Population
Minister
Deputy Minister
Total
Population/Minister
GDP 2012
Malaysia
2013
29,628,392
37
28
65
455,821
10,381.00
India
2009
1,156,897,766
23
22
45
25,708,839
1,489.00
US
2012
312,780,968
24
24
13,032,540
49,965.00
Indonesia
2009
240,271,522
45
45
5,339,367
3,557.00
Nigeria
2011
155,215,573
37
37
4,195,015
1,700.00
Japan
2012
127,368,088
19
25
44
2,894,729
46,720.00
Philipine
2013
105,720,644
26
26
4,066,179
2,587.00
Vietnam
2011
90,549,390
29
29
3,122,393
1,755.00
Germany
2013
81,147,265
16
16
5,071,704
41,514.00
Turkey
2011
73,722,988
26
26
2,835,500
10,666.00
Thailand
2014
67,497,151
28
11
39
1,730,696
5,474.00
UK
2010
62,348,447
29
29
2,149,946
38,920.00
South Africa
2009
49,052,489
37
33
70
700,750
7,508.00
Morocco
2011
31,968,361
23
23
1,389,929
2,925.00
Peru
2011
29,248,943
21
21
1,392,807
6,825.00
Venezuela
2010
27,223,228
33
33
824,946
12,900.00
Ghana
2012
24,652,402
25
25
986,096
1,605.00
Australia
2013
22,262,501
19
19
1,171,711
67,036.00
Cambodia
2013
15,205,539
34
34
447,222
1,000.00
Hungary
2010
9,992,339
15
15
666,156
13,100.00
Israel
2012
7,590,758
23
23
330,033
33,250.00
Singapore
2011
5,183,700
18
18
287,983
51,709.00
Mongolia
2012
3,179,997
15
15
212,000
3,673.00
Sri Lanka
2010
21,083,826
52
52
405,458
3,000.00








High Pop / Min & High GDP




Low Pop / Min but High GDP




High Pop / Min but Low GDP




Low Pop / Min & Low GDP ( Failing State)