Read up some fun story while the market is slack........
US President Obama visited China last week, primarily to find out what exactly & how exactly China is doing things that makes it such a success story, surpassing all the so-called "expert economic planners" of the US & Europe. His team found these 5 basic lessons behind China 's success - it applies equally to our country :
LESSON No 1 - BE AMBITIOUS
The Chinese believe in Setting Goals, Making Plans, & Focusing on Moving Ahead - there is always the sense of foward motion.
As an example, a huge 6-lane highway in Shanghai took only 2 years from planning to ready for traffic. In the US, 2 years will only get you the environment and local authority permit if you are lucky - in Malaysia in 2 years, they will still be calculating how to inflate the costs, and to whose abang-adik company to award the project.
LESSON No 2 - EDUCATION MATTERS
The Chinese are obsessed with ensuring kids get the right education - English, Maths & Science. They made sure that ther education system reached even the most remote rural areas - today the literacy rate in China is OVER 90%, surpassing even the USA 's 86%. According to American Educationists, the Chinese kids are way ahead of the kids in the USA .
Meanwhile in Malaysia, our Moo-Moo politicians are determined to retract our education system into the stone age.
LESSON No 3 - LOOK AFTER THE ELDERLY
The Chinese DO NOT send their elderly to nursing care centres - they personally look after & care for their parents. In the US, nursing care of the elderly is now costing each resident USD 85,000 annually, & this is rising. The Chinese also believe that the grandparents at home make the best tutors for their children. It also provides a sense of cultural continuity - this helps bind society.
Here its a growing trend to have children brought up by maids, of the lowest educational & moral quality - so our children (the future leaders) grow up with similar language & outlook capability.
LESSON No 4 - SAVE MORE
In the USA, savings dropped to zero in 2005, and is only now slowly rising to 4%. In China , the savings rate for every household has exceeded 20%.
The Chinese believe that fugality & a healthy savings rate are a sure indicator of a country's financial health. High savings lead to increased investments - results in increased productivity, innovation & job growth.
In the West, & aped by our Malaysians, the status symbol is to spend more than you earn, with as many credit cards as possible.In the end, the whole country gets into debt.
LESSON No 5 - LOOK OVER THE HORIZON
In China ,eveyone is foward looking - never backwards. New graduates make a vow - never ever will their children & grandchildren ever work in the fields again.
With this kind of foward mentality, people are always thinking & planning how, not just to succeed, BUT how to be the best in the world in everything they do.
In Malaysia , we are still, after 24 years, trying to get the window switches of the Proton to work properly.
30 comments:
China success is also partly due to their great leaders that have sole power to implement policy and response quickly to global changes and policy making decision without interference from politic, congress and opposition.
I believe, china with such as huge population must only suit to have central government system and progress in economy is their ultimate goal to ensure social stability.
Today, just sold some TWRREITs at 1.18-1.19, realize paper profit.
Malaysia Portfolio
1.IOIcrop 34.2%
2.TowerREITs 11.6%
Singapoore Portfolio
1. 100% cash
No trading for me today.
Ready to bargain hunt...
Bought IOIcorp at 5.10-5.11; GENM at 2.76; Genting at 6.76-6.78
Bought Genting SP at $1.04-1.05
bought more Genting SP at $1.05-1.06
i am waiting for afternon session.
Bought Bjtoto at 4.22
Half day stock loading position
Msia today puchase stock
a) IOIcorp 33.7% (cost: 5.108)
b) Genting 32.6% (cost: 6.772)
c) GENM 28.1% (cost 2.76)
d) Bjtoto 13.4% (cost 4.22)
Singapore today puchase stock
a) Genting SP, 66.5% (S 1.053)
Just open European marke show sign of relief, i'm opine that yeserday market tumble more than 2% may just too severe , overeact and overdone in too short time. Although medium term economic outlook may still in doubt, but market seem like to react and too sensitive on every single day economic data.
i guess so, the drop is just too drastic, may rebounce anytime soon but just reluctant as today is friday...
bought more Genting at 6.78
Bought more GENM at 2.77
Bought more Genting SP at $1.06, reach maximum level of 100% stake now!
GSP inching up, gotten license ?
bought CIMB at 12.48
wow, there is 8 - 9c profit margin for yr GSP, can start realising them. :)
Perfect timing. :)
Yes!!! Genting rebound, take oppurtunity to buy ultramaximum level of Genting at 6.79-6.81...
Yes, a lot of $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Yeah!!! Sold off all Genting SP at $1.15-1.17; realize highest intradaday profit margin ever :D)
Sold off all GENM at 2.79, realize intraday gain, swap margin to increase further Genting, bought at 6.80-6.81... concentrate all bullet to just shot Genting
horse
Are you aking profit on Genting SP as well? these sudden U-turn in share price seem to related some good news...gambling license
I've pouring all margin into Genting, hopefully it can swaing back to positive territoy, then another another round of S$$$
Not yet, i am setting higher target for GSP >1.20 for my second batch buy in the other day, since suspecting some good news there...so might hang on for a while. Hopefully, there is some run up from here. :)
hng,
GSP soften back, your timing is just pefect.. good trade mate. :)
As for Genting, 7.00 should be easily achievable if mkt stable.
Ai ya, market slump to lowest level. Genting closed at low level at 6.78... :(
Today, Singapore portfolio, record highest ever intraday profit margin of almost 10%, which in turn boots up total capital by another 10% :). This capital gain will subsequently bank in back to Msia and channel to fixed income assest to ensure capital in Singapore remain constant as initial capital.
However, unlikely singapore portfolio, Msia portfolio suffer all paper profit loss for all today purchase :( (except GENM which make intraday gain), today also sold some TWRREITs at 1.18, realize some paper profit
Msia today puchase stock
a) Genting 146.6% (cost: 6.81)
b) IOIcorp 33.7% (cost: 5.108)
d) Bjtoto 13.4% (cost 4.22)
d) CIMB 8.6% (cost 12.48)
Previous portfolio
1.IOIcrop 34.2%
2.TowerREITs 9.8%
Singapore today puchase stock
a) 100% cash
Singapore approves license for first casino
The Associated Press February 6, 2010, 7:45AM ET
Resorts World Sentosa was issued a license Saturday to operate Singapore's first casino, the city-state's regulators said.
The approval had been delayed after the Casino Regulatory Authority asked Resorts World in December for more information about the casino.
Resorts World, built by Malaysia's Genting Bhd for 6.6 billion Singapore dollars ($5 billion), declined to say on Saturday when it planned to open the casino. Officials have previously said they planned to open it as soon as the government issued the license.
The 49-hectare resort, on an island a quarter of a mile (about half a kilometer) off Singapore's coast, opened 1,340 rooms in four hotels last month. It also plans to open a Universal Studios theme park by March.
Rival Las Vegas Sands expects to open its $5.5 billion Marina Bay Sands casino-resort in Singapore in May. The government expects the two casino-resorts to increase the country's gross domestic product growth by up to 1 percentage point, boost tourist arrivals and add 35,000 jobs.
SINGAPORE - The Singapore Police Force (SPF) will start serving some 3,500 Exclusion Orders to those with serious criminal backgrounds from Saturday - to keep them out of the two casinos due to open at the two integrated resorts (IRs) - Resorts World Sentosa (RWS) and Marina Bay Sands (MBS).
In a statement on Friday night, the police said the exclusion orders are "broadly targeted at criminals who are involved in serious syndicated crimes or those with the propensity to operate criminal organisations, as well as those involved in illegal activities which will directly affect the crime-free gaming environment".
The statement came on the heels of a rise in the share prices for Genting Singapore earlier in the day. Genting Singapore, which owns RWS - the first IR to begin operations here - saw its shares gain 2.8 per cent on the Straits Times Index (STI), rising to $1.11.
Market reports had attributed the rise to "market chatter that the company might open its Universal Studios theme park at Resorts World Sentosa on Feb 11 and the casino a day after". When contacted, RWS spokesman Robin Goh said the IR had "no comment to make" beyond saying that it is "on track to open in the first quarter of 2010". Meanwhile, a spokesperson for the Casino Regulatory Authority told MediaCorp it was still processing the casino licences for RWS and MBS.
RWS opened its four hotels on Jan 20, and will open its other attractions in phases, while MBS has said it will open in mid-April. Analysts say the move by the SPF to issue the Exclusion Orders could further raise public expectations that the opening of Singapore's first casino is imminent - and could happen before the Chinese New Year on Feb 14.
Known as the Commissioner of Police Exclusion Orders or CPEOs - these are different from the Exclusion Orders (EOs) issued by the National Council on Problem Gambling (NCPG). The EOs from the NCPG follow from applications by families to bar their loved ones from the casinos if they could prove to counsellors and a council-appointed committee that their family member has a serious gambling habit. Last month, individuals were also allowed to voluntarily bar themselves by applying directly to the NCPG.
However, under the CPEOs issued under the Casino Control Act, those who have committed serious criminal offences such as loan shark syndicate members, secret society members, money launderers, pimps and drug traffickers are targeted. The list of excluded persons - which is confidential - will be periodically reviewed and updated, added the police.
Anyone served the CPEO will not be allowed to enter, remain, or take part in any gaming, on any casino premises.
The penalty for contravening the Order is a fine of up to $10,000 or a jail term of up to 12 months or both.
Any winnings paid or are payable to the offender will also be forfeited.
The CPEOs, said the police, are aimed at keeping the gaming environment free from syndicated crime and vice activities.
Any excluded person who wishes to appeal against the EO can do so by writing to the Minister of Home Affairs.
Meanwhile, RWS announced on Friday that local songbird Stephanie Sun will perform at the IR's first concert by a solo artiste, which will be held on Feb 16.
Regarded as one of Singapore's most successful singers, Sun has sold over 10 million albums.
Post a Comment