Chitchat Bond investors in Spore be careful

Runifyouhaveto · Sep 20, 2016

jw5 said:
This is the only thing I can think of to try and cheer you up. :o

Thank you brother. Thank you.

u really made me laughed in front of my PC terminal.

All the best to you and don't angry with GDragon bro anymore. Many of us are unhappy souls here.
Thanks again.

krafty · Sep 20, 2016

Runifyouhaveto said:
i give you an insider example.

Small shipbuilders happy build one or two vessels because for investing 7-9mio, they can sell the vessels for 12-18mio during good times, if they have ex-stock.

Now, now, now, one of our most reputable shipyard took the same approach and happily built 9-10 vessels, without anyone ordering them. These vessels are either completed or near completion and hardly any buyers comes along to view them. Think of the enormous financing cost behind the scene and massive labour cost behind the scene.

The management fears that shipbuilding will exit singapore after this O&G crisis and they stand to lose their job. So what they happily do now is to sink deeper by sending the Indian and Bangladeshi labourer back but burning $$$ to retain the experienced supervisors (making them to area cleaning) because it will really be irreversible for our shipbuilding industry once we lose the experience Singaporean and Malaysian supervisors.

We could be looking at the largest loss of manufacturing GDP since the demise of our semi-conductor, precision plastic mould injection and harddisk industry.

ah run!!! i am really elated to see you back here. :smile:

thanks for all the useful info.

3 cheers to you and have a great evening. :biggrin:

Runifyouhaveto · Sep 20, 2016

krafty said:
ah run!!! i am really elated to see you back here.

thanks for all the useful info.

3 cheers to you and have a great evening.

Thank you brother. Just sharing some things online so that our brothers here don't need to google too deep.

Please take care. Sorry, I cannot always come here.

krafty · Sep 20, 2016

Runifyouhaveto said:
Thank you brother. Just sharing some things online so that our brothers here don't need to google too deep.

Please take care. Sorry, I cannot always come here.

ah run, you really know inside out of things going around. all bros can learn a lot from you. stay on and have fun, tok cock sing song all the way. :biggrin:

i hope that you hang around here more often and be grateful that you are a survivor, at least my opinion of you.

Runifyouhaveto · Sep 20, 2016

krafty said:
ah run, you really know inside out of things going around. all bros can learn a lot from you. stay on and have fun, tok cock sing song all the way.

i hope that you hang around here more often and be grateful that you are a survivor, at least my opinion of you.

Don't say that bro. RUN is peanuts.
Sorry again, I cannot always be here.

Thank you for trusting me.

jw5 · Sep 20, 2016

Runifyouhaveto said:
Thank you brother. Thank you.

u really made me laughed in front of my PC terminal.

All the best to you and don't angry with GDragon bro anymore. Many of us are unhappy souls here.
Thanks again.

No angry and don't be unhappy, because "The concept of perpetuity is a myth". :biggrin:

Runifyouhaveto · Sep 20, 2016

jw5 said:
No angry and don't be unhappy, because "The concept of perpetuity is a myth".

Well-said. Hope everyone will find someway to huat and get out of the rats' race.

krafty · Sep 20, 2016

Runifyouhaveto said:
Well-said. Hope everyone will find someway to huat and get out of the rats' race.

i personally think that to survive in current times, one need to be armed with some sort of skills, be it electrician or carpentry kind of skills. it's nice to sit in office and better if you can go around seeing scenery.

johnny333 · Sep 20, 2016

Runifyouhaveto said:
At least u recovered. Fortunately, you are not like me.

Thank you very much for sharing, if you intended to console RUN.
I got paralyzed. Can't go back anymore.

You never forget but you move on & try best to go on :smile:

That was my biggest lost & I haven't recovered yet. That is why today I am more conservative & looking into safer investments like buying indexes. Maybe in 10 years time I can recover some of those for loses. I have regrets about the loses I made, could have bought a condo, gotten more dividend shares,...:o

Fortunately I can get by with the dividends I am making today.

Those who have lost $$$ learn that there are no short cuts in making money. It seems that everyone I know have made some big mistakes at least once in their lifetime: from gambling, from playing the stock market, some loss making investment ... The lucky ones recover & move on but some never learn & go on to losing everything. Or even committing suicide.

Well that's my little story & I think it was $800k+ I haven't tallied the real cost because it's so painful.

yangtzejiang · Sep 20, 2016

Runifyouhaveto said:
i give you an insider example.

Small shipbuilders happy build one or two vessels because for investing 7-9mio, they can sell the vessels for 12-18mio during good times, if they have ex-stock.

Now, now, now, one of our most reputable shipyard took the same approach and happily built 9-10 vessels, without anyone ordering them. These vessels are either completed or near completion and hardly any buyers comes along to view them. Think of the enormous financing cost behind the scene and massive labour cost behind the scene.

The management fears that shipbuilding will exit singapore after this O&G crisis and they stand to lose their job. So what they happily do now is to sink deeper by sending the Indian and Bangladeshi labourer back but burning $$$ to retain the experienced supervisors (making them to area cleaning) because it will really be irreversible for our shipbuilding industry once we lose the experience Singaporean and Malaysian supervisors.

We could be looking at the largest loss of manufacturing GDP since the demise of our semi-conductor, precision plastic mould injection and harddisk industry.

I believe most of the boats built for speculation were done in Batam. Local yards were doing mainly rig work. So the fall out could be limited.

Looks like more black Swan ahead. REITs next?

eatshitndie · Sep 20, 2016

johnny333 said:
Things have changed.

Last year I decided to open a US$ dollar account with Citibank. I already had a SGD$ account with them & when I called them it took a few minutes for them to set up a USD$ account. It was that easy. I didn't have to go down to fill up any forms or anything.

in sg, uob is the easiest, much easier than citibank. for americans, just get a letter from a u.s. bank to confirm that you have withdrawn and want to deposit cash in usd not over a certain amount in a local oub bank, and they will accept it and open a new account.

garlic · Sep 20, 2016

winnipegjets said:
If you are a long-term investor (10 years horizon), I would buy global oil stocks now. Forget about sinkee companies or Asian companies for the matter.

I agree.. just bought VDE.... i am also of the opinion in terms of long-term investment. The next spike in oil imo, will most probably be due to another war... and that war most probably will be deliberate...

gongkia · Sep 20, 2016

PretenderSam said:
This shows that LeongSam is right. Singaporeans , rich or poor , young or old , simply have no sense when
it comes to manage large amount of money. Better keep it in the CPF as LeongSam advised.

After reading some of the stories shared here, I concluded it is better to have no investment rather than anyhow invest. At least your money is still safe in the bank and will grow somehow.

Runifyouhaveto · Sep 20, 2016

krafty said:
i personally think that to survive in current times, one need to be armed with some sort of skills, be it electrician or carpentry kind of skills. it's nice to sit in office and better if you can go around seeing scenery.

Starting a charismatic church helps. Don't need pay franchise fees to the Almighty for using his intellectual properties.

Runifyouhaveto · Sep 20, 2016

yangtzejiang said:
I believe most of the boats built for speculation were done in Batam. Local yards were doing mainly rig work. So the fall out could be limited.

It appears that you understand such business. Great, let me share a bit more for mega-vessels and rigs that are primarily Made-in-Singapore.

On my last drinking session with people from a major yard, a company is stuck with 8 mega-vessels and rigs that with avg 20% downpayment. They are offering all kind of humiliating concessions to beg their buyers not to give up on the deposits-paid. Most of them costs $100mio each and think about the underlying financing. They slowed down the construction to the snailest pace because once they release it into the waters, they got to incur "parking fees"

chootchiew · Sep 20, 2016

gongkia said:
After reading some of the stories shared here, I concluded it is better to have no investment rather than anyhow invest. At least your money is still safe in the bank and will grow somehow.

Gongkia, I'm fully with you on this.
There is.no investment in this world that can benefit peasants. Reits , indexes, etc .end of the day is left pocket in right pocket out. It is just a scam.
This game is only for the Richie rich.

Runifyouhaveto · Sep 20, 2016

yangtzejiang said:
Looks like more black Swan ahead. REITs next?

Don't buy shares until we monitor this October. We don't even know if Fed & BOJ will shock the market in the next 12-36hours.

As for Reits, Lippo's new 7% bonds today, will probably gives higher returns than their ordinary shares in the next 2-3 years.

eatshitndie · Sep 20, 2016

gongkia said:
After reading some of the stories shared here, I concluded it is better to have no investment rather than anyhow invest. At least your money is still safe in the bank and will grow somehow.

for sinkie uncles with tiongbu's around in droves better to keep it safe in cpf. :p

johnny333 · Sep 20, 2016

eatshitndie said:
in sg, uob is the easiest, much easier than citibank. for americans, just get a letter from a u.s. bank to confirm that you have withdrawn and want to deposit cash in usd not over a certain amount in a local oub bank, and they will accept it and open a new account.

I've had my Citibank account for 15+ years, back then you needed to have $15,000 to open an account. They opened the account for me because I had invested in a few mutual trust funds that did poorly.

Nowadays I think you need only SIN$3,500 to open a Citibank account. I've been wiring US$ from my US trading account for a couple of years & I've never been asked for any letter or paper work :confused:

Last year when I decided to open a US$ account with Citibank, they did it without any hassle.

Are the banks in Spore now stricter about moving $ :confused:

I've heard about the anti-money laundering thing & notice that the amount you can carry across countries has changes from US$30k to US$20K.

eatshitndie · Sep 20, 2016

Runifyouhaveto said:
It appears that you understand such business. Great, let me share a bit more for mega-vessels and rigs that are primarily Made-in-Singapore.

On my last drinking session with people from a major yard, a company is stuck with 8 mega-vessels and rigs that with avg 20% downpayment. They are offering all kind of humiliating concessions to beg their buyers not to give up on the deposits-paid. Most of them costs $100mio each and think about the underlying financing. They slowed down the construction to the snailest pace because once they release it into the waters, they got to incur "parking fees"

should have gone into building luxury cruise ships or parts of it as baby boomer retirees have money and are spending like crazy on cruise vacations. both princess and royal caribbean are placing huge orders for larger, newer, more luxurious, more ostentatious, ludicrously decked monster hotels of the oceans. german, french and italian firms are kings in this luxury cruise building business. supposed sg firms are too deep in shit in the greyish, ugly, utilitarian o&g segment.

Chitchat Bond investors in Spore be careful

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