Chew’s group dual share plan worrying

Hands up those who doesn’t read through constitution amendments circular put out for egm resolution.

Thanks to the dilligence of a corporate governance expert Prof Mak Yuen Teen, Chew’s group was caught jumping the gun by introducing dual class shares in its constitution amendment. Imagine if nobody notice and the EGM resolution is passed, shareholder’s interest will be seriously affected.

I am against dual class shares. I urge SGX to reconsider introducing dual class shares. SGX ‘s argument of independent directors ability to watch out for the rights of minority shareholders is being severly tested in this case. Chew’s group independent directors and also the catalist sponsor has failed their fiduciary duty to restrain the management from doing things that hurt minority shareholders interest.Surely someone should be punished to send a right message to take their fiduciary duty seriously.


January 24, 2017 at 4:15 pm Leave a comment

Will Singapore get Terrex back in 2017?

Singapore government has decide to go on a legal warpath with Hong Kong (proxy of China) to get back Terrex vehicles still stuck there. Whether it is a wise decision can only be known as time passes by.

From a bazi perspective, is it possible to predict the outcome.

Note: This is a purely academic exercise of the mind and not to cast aspersions on any person.

Since PM Lee is the head of Singapore, his luck partly correlates with the luck of Singapore.

His incomplete bazi is


癸 甲 乙 丙 丁 戊 己
卯 辰 巳 午 未 申 酉

In November 1992, PM Lee was diagnosed with cancer and underwent chemotherapy but he recovered later.
Novemeber 1992 is 壬申年,辛亥月, 申冲寅,七杀旺攻身。 寅为用神, 化杀为权,还有食神制杀,贵。大运走丙运,木火土为用,逢凶化吉。




Disclaimer: This is purely based on imcomplete bazi, so analysis may be wrong.

January 12, 2017 at 4:05 pm Leave a comment

2017 start of US bear market

Trees don’t grow to the sky, so do US stock market. Donald trump will disappoint market players.

January 1, 2017 at 5:31 pm Leave a comment

Fed just miss the best chance for a rate hike

As expected, Fed decided to stay put. A wrong decision as Donald trump will win the presidential election in Nov 2016 and thus put to rest any hopes of raising rates this year. As for next year, if Donald trump get his wishlist of firing Yellen, expect more turmoil. Fasten your seatbelts, we are in for a rough ride.

September 22, 2016 at 4:02 pm Leave a comment

An overdue self-criticism

It’s been a long while since i wrote about my investment blunders. Here’s one, i sold all mine HTL international shares in 2013 after holding it for about 5 to 6 years. At that time, prospects for HTL was poor and leather hide price was sky-high. In other words, i was impatient and had better ideas for the money(should have stick to my blog title marathoner).

Little did i know that the catalyst for this net-net stock came in 2015 when a China buyer wanted to takeover the company at a price that was higher than even the highest price i paid for the stock. Lesson learnt: As long as the stock balance sheet is fundamentally strong and undervalued, don’t sell the stock since a catalyst could arrive although when it will arrive is unpredictable.

It’s no use crying over split milk, time to unearth another HTL which rose from the ashes.

July 30, 2016 at 4:26 pm Leave a comment

Watch out! Market crash ahead

As US stock markets and treasuries bond markets reached record levels, watch out. Any single event will trigger a sharp sell off.

July 13, 2016 at 3:04 pm Leave a comment

China manufacturer for MTR secretly recalls 35 SMRT subway trains after cracks found

From Factwire:

“A source from the mainland railway industry told FactWire that Singapore’s subway operator SMRT Trains Ltd (SMRT) was secretly shipping defective trains back to mainland China for replacement and repair by manufacturer CSR Sifang Locomotive & Rolling Stock Company Ltd (CSR Sifang).

However, multiple sources from mainland China and Singapore have confirmed to FactWire that problems have been found with C151A trains since they began service in 2011. Sources said the trains are of poor quality and that the glass next to passenger seats has repeatedly shattered due to shoddy workmanship. In 2011, one of the trains’ Chinese-made uninterruptible power supply batteries exploded during repair. While there were no injuries, Kawasaki Heavy Industries-CSR Sifang replaced all of the batteries made in China with ones made in Germany.
In December 2011, serious malfunctions occurred on the SMRT’s North South Line, which the SMRT suspected were caused by C151A trains. A subcontractor responsible for supplying train components to CSR Sifang admitted to FactWire that after the malfunctions, SMRT significantly reduced the frequency of C151A trains and asked to delay payment for extra trains of the same series, greatly impacting the subcontractor’s cash flow.

The mainland railway industry source stated that quality issues with the Chinese-made C151A trains began to worsen in 2013. They said cracks were found in structural components, including the sub-floor – a compartment under the passenger floor holding the equipment box and electrical wires – and bolster function parts connecting the car body to the bogie, the latter having the most serious problems.”

FactWire contacted several retired Singaporean subway staff. One of them said: “I’ve never encountered a situation like this in all my decades of working in railway construction. Replacing the whole frame [of the train] – you can tell how serious [the problem] is.”
Another former SMRT worker admitted that the C151A train model had quality issues in its propulsion system, engine system, and other components. “It’s not a complete failure you know, it’s [that] the [train’s] life is so much shorter, maybe about half [of the normal lifespan]. [For instance], if normal trains can [run for] one million km, but this one can only do 500,000km.”
He said that Kawasaki Heavy Industries-CSR Sifang had been providing “after sale service” for the trains and sending staff to Singapore to “troubleshoot”. “[Chinese-made trains] are very cheap. How can you have [something] that is very good and pay a very cheap price? So this is [the] trade-off.”

July 5, 2016 at 2:31 pm 1 comment

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