Start to the Year of the Ox - Sianzzzz

The New Year, like all new years, started with Wifey and I rushing through the last bits of our spring cleaning. This year though, was a bit more meaningful, as we went beyond the usual - we got ourselves new roller blinds (finally!) for the master bedroom, re-did the silicon lining in the master bathroom, fixed the leaky toilet flush, and Wifey tried her hands at baking pineapple tarts for the first time.

So things started well enough.

By the end of the 2nd day, I was damn sian already, and by the end of the 4th day, I was totally gone. CNYs have a tendency to bring out the worst in me. It must have been a combination of some (or even ALL) of the following:

1. In the eyes of mum-in-law, no matter how well I do, how concerned I am about her well-being, how hard I made her laugh, I'm still only the son-in-law. I can't shirk away, cos I made a vow to Dad ...

2. The 2nd day of CNY is always spent on the couch of mum-in-law's place. Wifey will be playing mahjong with her relatives (which she hardly does nowadays), and I will be awkwardly entertaining myself on the couch. TV, book or sleep? It's unimaginable to be idling the time away on the 2nd day of the New Year, but I'm just too polite to pack up and leave. Caught between a rock and a hard place.

3. I wish I am invisible when it comes to crowds. The need to make small talk, the friendly laughs, where do I stand, do I join in the conversations ... ARRRGGHHH!

4. And then there's the baby thing. Younger cousin-in-law is already undergoing IVF treatments. As for us? We haven't even freaking started! And someone actually said to me " After 1, 2 years of trying, if there's still no news, must go for assisted programmes already. Cannot wait." I wanted to shout back "I KNOW!", but was afraid of the return, "So why didn't you?" Sigh. Somebody who already has 3 boys, is going to be a father again. This time to a girl. Time is running out for us. I'm so depressed.

5. And who can forget the frustrations of money. For the longest time, since I started work, I have pegged all my break-out-of-the-rat-race's-vicious-cycle and time-to-buy-a-private-property hopes on my investments. I studied them carefully, trying to understand and acquaint with the different products. Stocks, unit trusts, foreign currencies, insurance, emerging markets, AP ex-J ... I have them all. Despite doing this for the good part of the past 10 years, I am no where near to declaring "Let's use this money for a condo". Hell, the entire portfolio is down 50%, I think! WTF??!! These investments were meant to be the cornerstone of my imminent success!! Ha, what a joke! Where did I go wrong? WHERE DID I GO WRONG? How is it that people can buy one private property after another, whereas I don't even have cash to do proper renovations for my HDB flat??!! Urrrgh!

THIS SINKING FEELING SUX BIG TIME!!!



Photo credit here.

Post Date: 30 Jan 09

The first day of the year

Wifey and I woke up bright and early on the first day of the new year. After a quick breakfast, we headed down to the temple to help with the spring-cleaning. We reached just after 9am. The place was already buzzing with activites.

There were 2 tea breaks and a sumptuous lunch. Along the way, we interacted with the other volunteers and the shifus, and found that everyone was really friendly and their relationship was tight. After cleaning numerous windows, wiping the dining hall fans, removed the flourescant covers for washing and other odd jobs, we left at 5 plus.

I don't think I've ever done anything so meaningful on the first day of the new year. And my right arm has never hurt so bad!



Photo credit here.

Post Date: 2 Jan 09

STI component stocks in 2008

Business Times article here.





Post Date: 2 Jan 09

The Infocomm Wrap of 2008

Article from telecomasia.net.

THE WRAP: The year that was

It was a year that began in a downturn and finished in recession.

As went the year, as went many of the industry leaders.

After its sixth successive quarterly loss, Alcatel-Lucent offloaded CEO Pat Russo and chairman Serge Tchuruk, the architects of its ill-fated merger. New chief Ben Verwaayen unveiled a rescue plan with cuts to 6,000 jobs.

Nortel, who admitted seeking advice on bankruptcy protection, axed 3,300 positions. HP chopped 25,000, BT 10,000 and Sun 6,000.

Barely 18 months after unleashing the unloved Vista OS, Microsoft resurrected the Windows brand, promising to launch its next OS as early as 2010.

For much of the year, Microsoft pursued Yahoo with a generous $45 billion offer. Yahoo turned it down and finished the year without a CEO, its stock 60% off its year-high and facing shareholder lawsuits.

Yahoo's attempted advertising tie-up with Google fell foul of regulators.

Activist investor Carl Icahn won three seats on the board. While rivals stumbled, Google strode ahead. It launched an open source browser, complete with comic book manual. It invested in a LEOSAT and a trans-Pacific cable. It offered a health information service and voice recognition for mobile. It tracked the path of flu outbreaks. It gave tips on how to solve the energy crisis. It endorsed Barack Obama and opposed the anti-gay marriage Proposition 8.

Google had its Vista moment too, with a memorable glitch in the first Android phone that turned the SMS text box into a command line.

It was year of security scares. ISPs rushed to close off a critical DNS that could have allowed fraudsters to hijack web addresses. Microsoft issued an emergency patch for a serious flaw in Explorer.

Networking problems hit US flights. An onboard navigation system caused a Qantas plane to nosedive. A worm stowed away on laptops in the International Space Station.

US authorities arrested the "Herbal King" spam gang, with no noticeable impact on email traffic. But the volume of spam fell 70% after ISPs pulled the plug on a spam-friendly web hosting company, McColo.

Gartner warned that ICTs emitted almost as much carbon as the airlines. Only 3% of people recycle their mobile phones, according to a Nokia survey.

Apple launched the 3G iPhone and overtook RIM as the biggest-selling smartphone in Q3. The iPhone came to Asia. Operators reported higher mobile data sales, but lower profits thanks to handset subsidies.

iPhone users downloaded 60 million applications from the new apps store in the first month. Apple removed one app, called "I Am Rich", which charged $1,000 to show just a glowing ruby.

Bill Gates formally bid farewell to Microsoft to spend time on his foundation.

Internet traffic grew 53% and voice traffic rose 12%, according to TeleGeography.

China restructured its telecom carriers and launched a new IT and comms ministry. Its online population overtook that of the US, topping 253 million internet users in June.

Beijing Olympics organizers blocked and then unblocked access to sensitive websites for the 25,000 journalists covering the event. The blue screen of death made an unscheduled appearance at the opening ceremony.

Microsoft blacked the screens of Chinese PCs using pirate versions of Windows, provoking a storm of protest.

Chinese spooks were found to be monitoring the conversations of Skype IM conversations. Skype execs said they were not aware.

Telekom Malaysia won a $3.4 billion national broadband tender, one-fifth paid for by taxpayers. SingTel and partners won the Singapore tender, with S$750 million from the government.

After months of squabbling, the Australian government threw Telstra out of its next-gen tender.

Nokia acquired location firm Navteq for $8.1 billion. Brocade ponied up $3 billion for Foundry. Samsung tried to buy SanDisk, but gave up.

Nokia bought out Symbian for $410 million and turned it open-source to compete against Android.

Qualcomm and Nokia settled their patent dispute. Bangladesh telco Grameenphone was fined $36.5 million for offering a VoIP service.

And a US startup began selling a micro-generator that would enable cellphone users to convert walking, running and other human movement into talk-time.

Post Date: 31 Dec 2008

My sincerest congrats

E, I just want to wish you a happy and long marriage filled with love and laughter. The relationship was difficult right from the start, with his overseas posting and your frequent short breaks spent there.

I'm glad you didn't take my "Dump him!" taunts too seriously : )

I teared at your church wedding. (You are only the 2nd friend at whose wedding I teared). I was really happy for you, and that happiness is from my heart.

Once again, congrats ...



Image credit here.

Post Date: 30 Dec 08

Ho, ho, ho, Merry Christmas!

Post Date: 30 Dec 08

This cannot be true

"没有孩子命...缘很浅"



Post Date: 30 Dec 08

Little Nyonya theme song - 如燕

《如燕》
词曲：陈佳明
编曲：Terence Teo
制作人：陈佳明
演唱：Olivia Ong



愿意合上眼才能美梦无边
别让悔熏乌了从前

也许碎片才能让回忆展颜
何妨瓷花拼凑明天

谁带我寻获幸福的模
却自己谜中困锁

谁为我留下缱绻的天涯
信物是抹晚霞

Chorus:
思念如燕它飞舞舌尖
若是真爱配尝几分苦甜

意念婆娑时间里推磨
追随到何处才结果

燕如针线在青空缝编
几幅女红将以泪缀点

誓言斑驳情雾只是经过
风雨中且让我盈步婀娜




Post Date: 10 Dec 08

三世因果经

多子多孙为何因，前世开笼放鸟人。
.
.
.
今生无子为何因，前世填穴覆巢人。



Post Date: 9 Dec 08

Sigh ... still not good news yet

What I heard last week, I had originally thought good news are on their way.

I was wrong.

Apparently, different cases require different 'procedures'. I know my disappointment is written all over my face, but I don't intend to hide my true emotions.

I am told to stay optimistic, not to be disheartened, keep trying ... I know I have to, but I feel very defeated already ...



Image credit here.

Post Date: 9 Dec 08

Reminder to self

Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.
Be grateful with what you have. Don't compare and don't complain.


Post Date: 9 Dec 08

The Noose: Maid Training School

Michelle Chong is really good ...



Post Date: 20 Oct 08

空虚

今天是农历九月十九, 纪念观世音菩萨成道日.

早上到四马路走了一趟. 拜拜之后, 原本还想跟菩萨求支签, 想问问为什么迟迟没有宝宝的音讯. 可惜的是, 今天没有支签服务.

庙里庙外, 人群很多,但视线很模糊. 是睡眠不足, 还是对周围的一切完全没兴趣?

近期还真的有很多东西烦 - 工作, baby, 投资... 看到人家买车买楼, 感到很自卑, 总觉得自己比不上别人, 因为自己做的, 不比别人多, 比别人好. 真的很难受, 也很空虚. 为了这些红尘事而烦, 显得很肤浅, 但毕竟我还是凡夫俗子.

老婆相反的, 对这些不以为然. 或许, 这就是我需要的, 那股平衡的力量吧.

嗨 ...



Image credit here.

Post Date: 17 Oct 08

Another month, another test marked in red

It's like at night, when you can't get to sleep. The later it gets, the more you worry. And the more you worry, the harder it is to fall asleep.

Very soon, I'll need to dig right inside to conjure up the optimism and belief.

Also, it has been happening with increasing frequency, this lack of a good night's sleep ...



Image credit here.

Post Date: 17 Oct 08

What a LOVELY day!

This is turning out to be such a WONDERFUL day!

Not only is arse luck rearing its pretty head, this is also the day I found out a friend just sold his condo FOR A PROFIT and has moved into his new condo in the west.

And when did I hear this? Right after worrying if my job will still be there and wondering if I should take the property agent course as a backup, and contemplating selling the car to buy a cheaper one so as to lower the monthly instalments.

I can't breathe now, and need to sit down ...



Post Date: 14 Oct 08

If this is not arse luck, then what is??

Receipt of document regarding rights issue: 3 Oct 08
Rights price: 75 cents
Share price: no movement (last done at 84.5 cents long ago)

From 5 - 12 Oct, tried to apply at ATM but either forgot or no ATM.
Share price: still no movement

Finally, today, remembered and found ATM. Happily punched it entitlement of 1 lot, and applied for 2 excess lots. Damage is $2252, including $2 admin fee.

And guess what? The share price finally moved - DOWN! It gapped down to 67.5 cents.

And this is the day STI closed up 128.02 points ! Immediately paper loss $225.

CCB.



Post Date: 14 Oct 08

BankWest in A$2.1b takeover bid from CBA

The West Australian article here.



Premier told BankWest jobs to stay in WA

8th October 2008, 17:30 WST

Premier Colin Barnett said today he had been reassured BankWest staff levels across WA would not be affected by the proposed $2.1 billion takeover bid by Commonwealth Bank.

In a media statement, Mr Barnett said he had spoken with Commonwealth Bank chief executive officer Ralph Norris, who had given a commitment regarding staffing levels and an assurance that BankWest would continue to operate independently of the Commonwealth Bank, with its headquarters to remain in WA.

Mr Barnett said the commitments would give BankWest greater strength and return the bank to Australian ownership.

He said any questions relating to competition would be addressed by the Australian Competition and Consumer Commission when assessing the purchase proposal.

Mr Norris this morning announced plans to buy BankWest and St Andrew’s Australia from their UK based parent HBOS provided the proposal passes all competition, regulatory and government approvals.

He said BankWest was a quality asset which had been made available on attractive terms, from troubled UK mortgage giant HBOS.

“BankWest provides a significant opportunity to further develop the group’s business in the fast growing WA market,” he said in an announcement this morning.

“It complements our existing operations and will deliver additional growth opportunities in key market segments, as well as enhanced product and service delivery opportunities for customers.”

Despite Mr Barnett’s comments, the Financial Sector Union has warned that WA jobs were likely to be the first to go if Bankwest was taken over by Commonwealth Bank.

The Bank of Western Australia Act 1995 stipulates BankWest’s head office, managing director and core functions must remain in WA.

The company, founded as Agricultural Bank of Western Australia, will be only a drop in the ocean for Commonwealth Bank’s overall market capitalisation – with the $2.1 billion purchase price not requiring the approval of CBA shareholders.

According to the Australian Prudential Regulation Authority, BankWest holds 4 per cent of Australia’s total lending market share and 4 per cent of all home loans, dwarfed by CBA’s 21 per cent and 20 per cent stakes respectively.

CBA holds $365 billion in loans and advances, $262 billion in customer deposits and $185 million in funds under administration – dwarfing Bankwest’s $55 billion in loans, $37 billion in deposits and $2 billion under administration.

Commonwealth also has 10 million customers to BankWest’s 900,000, and employs 39,600 people – leading to speculation that the jobs of BankWest’s 5,000 employees may be under threat.

While CBA has committed to retaining the BankWest brand in WA, an investor pack released by the bank this morning says it plans to streamline administrative functions, systems and processes of the banks where synergies exist.

CBA will also review BankWest’s recent east coast retail expansion strategy, and look to integrate the St Andrew’s Australia insurance and investments arm into its insurance operations.

BankWest is a market leader in WA, with its 100 branches across the state dwarfing CBA’s 77, ANZ’s 81 and National Australia Bank’s 72.

Only the combined operations of Westpac and St George Bank had more, at 107.

BankWest also has more Automatic Teller Machines in the State – 366 to CBA’s 275 – and 28 business centres to CBA’s 10.

PERTH
JAYNE RICKARD AND ANDREW HOBBS



Image credit here.

Post Date: 8 Oct 08

RBA cuts official interest rates by a full percentage point

The West Australian article here.



Market stunned by massive rate cut

7th October 2008, 11:30 WST

The Reserve Bank has cut official interest rates by a full percentage point, stunning economists and financial markets.

In its first full percentage point cut in rates since May 1992, bank governor Glenn Stevens said conditions in international financial markets had taken a “significant turn for the worse” through September.

The move takes rates to six per cent, the lowest since November 2006.

Mr Stevens said the slowdown in the global economy meant the inflation risk was abating.

The bank had to make monetary policy much easier in such conditions.

“The recent deterioration in prospects for global growth, together with much more difficult market conditions even for creditworthy borrowers, now present the risk that demand and output could be significantly weaker than earlier expected. Should that occur, inflation would most likely fall faster than earlier forecast,” he said.

“Given that background, the Board judged that a material change to the balance of risks surrounding the outlook had occurred, requiring a significantly less restrictive stance of monetary policy.”

In an admission of the concerns that banks may not be able to pass on all cuts in rates, Mr Stevens said the board realised the tougher conditions facing commercial banks.

“The board also took careful note of movements in funding costs in wholesale markets. Having weighed these considerations, the board decided that, on this occasion, an unusually large movement in the cash rate was appropriate in order to bring about a significant reduction in costs to borrowers,” he said.

The unexpected move - markets had expected a half percentage cut - generated a huge spike on the Australian stock market which had been in negative territory before the announcement.

Macquarie Bank interest rate specialist Rory Robertson said the Reserve would aggressively cut interest rates in coming months to avoid sending Australia into recession.

“RBA policymakers now will do what they can to avoid excessive rises in unemployment,” he said.

“That means managing key lending rates lower, with some urgency. And not worrying too much about the recent weakness of the Australian dollar, which may or may not be sustained; if it is, recession will be easier to avoid.”

SHANE WRIGHT
ECONOMICS EDITOR



Post Date: 8 Oct 08

BT: Tough going for Singapore bourse

BT article here.

Published October 7, 2008

TOUGH GOING FOR SINGAPORE BOURSE

SINGAPORE shares crashed yesterday, in line with global markets, and more pain appears in store for investors, notwithstanding the odd technical rebound or two.

The economic slowdown and a weakening Singapore dollar look set to serve up a double whammy for Singapore stocks. The strongest official warning so far that the Singapore economy is headed for tough times came over the weekend, when Finance Minister Tharman Shanmugaratnam said that the economy is expected to slow, not just one or two quarters, but for several quarters as the sub-prime meltdown evolves into an economic crisis.

This sets the stage for two major and potentially market-moving announcements this week. On Friday, the government will announce flash GDP estimates for the third quarter. Many private sector economists are expecting a technical recession (two consecutive quarters of GDP declines) starting in the third quarter, and some are warning of a full-blown recession ahead, with year-on-year quarterly contractions.

With economists slashing their estimates of Singapore's 2008 growth to well below 4 per cent, all eyes are now on the government cutting its full-year economic growth forecast of 4-5 per cent.

Yesterday's sharp drop in stock prices is one indication that the market is starting to price in a prolonged economic slowdown, and further downgrades are likely. Corporate profits will increasingly be at risk.

The Q3 reporting season, which will begin shortly, will provide the first hint of the expected deterioration in earnings, although easing fuel and commodities prices may provide some relief.

The Q3 GDP flash estimates will also provide a backdrop for another key announcement on the same day - the Monetary Authority of Singapore's (MAS) twice-yearly policy statement. With growth replacing inflation as the main concern, the MAS is expected to signal a slower pace of appreciation for the Singapore dollar against its major counterparts.

The weakening of the Sing dollar will aid the competitiveness of Singapore exporters and help cushion the blow of slowing demand in key markets. It will also be welcomed by local companies which have seen their overseas earnings pared down by conversion losses when the Sing dollar was gaining.

But the weakening Sing dollar could be negative for stocks. When the Sing dollar appreciation story was in play over the last one year or so, there were significant foreign capital inflows into the Singapore economy. A lot of the inflows found their way into local stocks, as foreign investors anticipated currency as well as capital gains.

Now, with the expected Sing dollar weakening, the reverse will be true, leaving the stock market facing the prospects of capital outflows. So it could be some tough months ahead for the Singapore stock market as well.



Image credit here.

Post Date: 7 Oct 08

STI - 6 Oct 2008

**Update**
The STI actually ended 128.80 points (5.6%) lower at 2,168.32 points.

Post Date: 7 Oct 2008