The HIgh and the Lows aBouT me!!...100%
"Carpe Diem"
Friday, October 31, 2008
Tuesday, October 28, 2008
Global Financial Meltdown
CONTINUED FREE-FALL !
Monday, 27-October-2008
Chart shows Japan’s Nikkei 225 Stock Average since 1980
and results of selected Asian stock markets
HK’S STOCK-MARKET’S MELTDOWN
Monday, 27-October-2008
Hong Kong shares plunged over 12 percent in their biggest single-day drop
since 1997 on Monday, led by blue-chip heavyweight HSBC,
as fears of a global recession hit Asian financial markets
Thursday, October 16, 2008
FINANCIAL PLANNING: this week's tip
Dan was a single guy living at home with his father and working in the
family business.
When he found out he was going to inherit a fortune when his sickly
father died, he decided he needed a wife with which to share his
fortune.
One evening at an investment meeting he spotted the most beautiful
woman
he had ever seen.
Her natural beauty took his breath away. "I may look like just an
ordinary man," he said to her, but in just a few years, my father will
die, and I'll inherit R200 million."
Impressed, the woman obtained his business card and three days later,
she became his stepmother.
Women are so much better at financial planning than men.
Understanding the current world financial situation- Made Simple, Simply the Indian way.
If you have difficulty understanding the current world financial situation, the following should help...
Once upon a time in a village in India , a man announced to the villagers that he would buy monkeys for $10.The villagers seeing there were many monkeys around, went out to the forest and started catching them.
The man bought thousands at $10, but, as the supply started to diminish, the villagers stopped their efforts. The man further announced that he would now buy at $20. This renewed the efforts of the villagers and they started catching monkeys again.
Soon the supply diminished even further and people started going back to their farms. The offer rate increased to $25 and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it!
The man now announced that he would buy monkeys at $50! However, since he had to go to the city on some business, his assistant would now act as buyer, on his behalf.
In the absence of the man, the assistant told the villagers: ' Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $35 and when he returns from the city, you can sell them back to him for $50. '
The villagers squeezed together their savings and bought all the monkeys.
Then they never saw the man or his assistant again, only monkeys everywhere!
Welcome to WALL STREET.
Once upon a time in a village in India , a man announced to the villagers that he would buy monkeys for $10.The villagers seeing there were many monkeys around, went out to the forest and started catching them.
The man bought thousands at $10, but, as the supply started to diminish, the villagers stopped their efforts. The man further announced that he would now buy at $20. This renewed the efforts of the villagers and they started catching monkeys again.
Soon the supply diminished even further and people started going back to their farms. The offer rate increased to $25 and the supply of monkeys became so little that it was an effort to even see a monkey, let alone catch it!
The man now announced that he would buy monkeys at $50! However, since he had to go to the city on some business, his assistant would now act as buyer, on his behalf.
In the absence of the man, the assistant told the villagers: ' Look at all these monkeys in the big cage that the man has collected. I will sell them to you at $35 and when he returns from the city, you can sell them back to him for $50. '
The villagers squeezed together their savings and bought all the monkeys.
Then they never saw the man or his assistant again, only monkeys everywhere!
Welcome to WALL STREET.
Shocked by the harsh realities
Insight Down South
By SEAH CHIANG NEE
The man in the street finds it hard to understand why electricity charges have gone up when the price of oil - to which the gas for generating power is tied - has come down.
DAZED by months of paying more for almost everything except fresh air, Singaporeans found themselves hit again — by a big increase in electricity bills.
From Oct 1 they had to pay a mind-boggling 21.89% higher power tariffs despite the collapse in the oil price, the second increase this year; in January, the rates went up by 6%.
The latest series are bound to exert inflationary pressures on the economy, which is declining along with the stock and property markets. Singaporeans are girding up for real hardship ahead.
The increase has badly affected middle-class Singaporeans, who are baffled by it. It couldn’t have come at a worse time. Yesterday, the city state entered a recession, after six years of growth.
A pall of gloom has descended. Over the past few days, panic had gripped the market here in line with world bourses as investors dumped shares in panic.
Property is also in decline. As a result, much of the personal wealth that has taken Singaporeans years to accumulate has evaporated.
And they now find themselves with a power headache, leading people to ask: “Why a 22% increase when oil is 33% cheaper?”
For sure, it was not to alleviate losses to the state. Last year, the Temasek-owned electricity company, Singapore Power, made profits in excess of S$1bil (RM2.4bil).
To critics, it is an example of Singapore Inc sticking to the principle of state-linked enterprise striving to make maximum profits, even in a downturn.
Three government-owned power companies produce 90% of electricity here. Recently the government sold off two of them to Chinese and Japanese firms for a total of S$8bil (RM19.1bil).
Some 80% of power is produced by natural gas. The gas, imported from Indonesia, is priced under contract according to the oil market. Since the oil price has fallen from US$147 a barrel to US$88 (RM515 to RM308) in recent months, Singaporeans had expected a drop in electricity costs.
The jump appears even more unseemly vis-a-vis Hong Kong, its long-time rival frequently held up for comparison.
On Oct 1, the same day as Singapore’s increase, Hong Kong reduced its electricity costs by 3%. Even then, people there complained it fell far short of market realities.
So why the increase in Singapore? Was it a mistake by bureaucrats?
The government says there’s a perfectly good reason for the disparity. In Singapore, the tariffs are calculated from oil prices in the preceding three months. Oil was more expensive then.
Singaporeans appear baffled with the explanation, asking if Hong Kong can make its market work better, why can’t we?
Four months earlier, many Singaporeans had complained about mysterious overcharging in their electricity bills.
The electric company said it had received — and investigated — 1,093 complaints in April that the bills jumped for no apparent reason, some by 60%-113%.
The controversies followed from a strategy to privatise electricity.
Temasek Holdings recently sold off two companies — Tuas Power (in March) and Senoko Power (in September) to the Chinese and a Japanese-led consortium for about S$8bil. The third, PowerSeraya, will follow suit next year.
Irritated Singaporeans do not regard electricity as just another market product to buy and sell, but as a public service. “It is unwise for an elected government to price it for too much profit,” said a stock broker.
He queried whether the price rise was linked to the sale of the plants. “Obviously, the higher the electricity charges, the higher they can fetch on the world market,” he observed.
Admitting the ‘rather high’ charges were unsettling people, Finance Minister Tharman Shanmugaratnam promised to introduce measures in next year’s Budget to help ease the impact.
At the same time another state-controlled company, Singtel, has raised fixed-line telephone rates by S$10 (RM24) from Jan 1. Annual residential and business rates will be S$110 (RM262) and S$160 (RM380), respectively.
The technical recession — particularly the repercussion of state profits in times of crisis — will likely increase political pressure on the government.
Some observers believe that if the fallout were to result in severe hardship, it could impact the election due in two or three years’ time.
Much depends on how much the bulk of the heartland voters are affected by recession and inflation.
The ruling People’s Action Party (PAP) has won credit for Singapore’s rapid progress in the past 40 years, which turned Singapore into an advanced global city.
But when things go wrong, it will take a proportionately larger blame.
Lately, there have been calls for the government to draw on state reserves to provide relief to stricken — especially unemployed — Singaporeans, instead of investing them in Western banks with questionable returns.
In the past, such appeals had been rejected with the explanation that reserves were meant for a rainy day. The debate now is: Have the heavy rains started?
The power price rise has revisited the matter of state corporatism in times of crisis.
The Singapore government is both a provider of public services as well as — at least indirectly — a major seller of these services for the state’s coffers.
In happy times, it evokes little complaint since in contributes to substantial asset accumulation; the profits go back to Singaporeans collectively.
But in times of hardship, this role of provider-cum-seller of public services becomes hard to balance. How far should profit in state-controlled firms be allowed in times of trouble?
So far, there is no sign that any change is forthcoming, at least not until the level of public suffering hits an unbearable level.
By SEAH CHIANG NEE
The man in the street finds it hard to understand why electricity charges have gone up when the price of oil - to which the gas for generating power is tied - has come down.
DAZED by months of paying more for almost everything except fresh air, Singaporeans found themselves hit again — by a big increase in electricity bills.
From Oct 1 they had to pay a mind-boggling 21.89% higher power tariffs despite the collapse in the oil price, the second increase this year; in January, the rates went up by 6%.
The latest series are bound to exert inflationary pressures on the economy, which is declining along with the stock and property markets. Singaporeans are girding up for real hardship ahead.
The increase has badly affected middle-class Singaporeans, who are baffled by it. It couldn’t have come at a worse time. Yesterday, the city state entered a recession, after six years of growth.
A pall of gloom has descended. Over the past few days, panic had gripped the market here in line with world bourses as investors dumped shares in panic.
Property is also in decline. As a result, much of the personal wealth that has taken Singaporeans years to accumulate has evaporated.
And they now find themselves with a power headache, leading people to ask: “Why a 22% increase when oil is 33% cheaper?”
For sure, it was not to alleviate losses to the state. Last year, the Temasek-owned electricity company, Singapore Power, made profits in excess of S$1bil (RM2.4bil).
To critics, it is an example of Singapore Inc sticking to the principle of state-linked enterprise striving to make maximum profits, even in a downturn.
Three government-owned power companies produce 90% of electricity here. Recently the government sold off two of them to Chinese and Japanese firms for a total of S$8bil (RM19.1bil).
Some 80% of power is produced by natural gas. The gas, imported from Indonesia, is priced under contract according to the oil market. Since the oil price has fallen from US$147 a barrel to US$88 (RM515 to RM308) in recent months, Singaporeans had expected a drop in electricity costs.
The jump appears even more unseemly vis-a-vis Hong Kong, its long-time rival frequently held up for comparison.
On Oct 1, the same day as Singapore’s increase, Hong Kong reduced its electricity costs by 3%. Even then, people there complained it fell far short of market realities.
So why the increase in Singapore? Was it a mistake by bureaucrats?
The government says there’s a perfectly good reason for the disparity. In Singapore, the tariffs are calculated from oil prices in the preceding three months. Oil was more expensive then.
Singaporeans appear baffled with the explanation, asking if Hong Kong can make its market work better, why can’t we?
Four months earlier, many Singaporeans had complained about mysterious overcharging in their electricity bills.
The electric company said it had received — and investigated — 1,093 complaints in April that the bills jumped for no apparent reason, some by 60%-113%.
The controversies followed from a strategy to privatise electricity.
Temasek Holdings recently sold off two companies — Tuas Power (in March) and Senoko Power (in September) to the Chinese and a Japanese-led consortium for about S$8bil. The third, PowerSeraya, will follow suit next year.
Irritated Singaporeans do not regard electricity as just another market product to buy and sell, but as a public service. “It is unwise for an elected government to price it for too much profit,” said a stock broker.
He queried whether the price rise was linked to the sale of the plants. “Obviously, the higher the electricity charges, the higher they can fetch on the world market,” he observed.
Admitting the ‘rather high’ charges were unsettling people, Finance Minister Tharman Shanmugaratnam promised to introduce measures in next year’s Budget to help ease the impact.
At the same time another state-controlled company, Singtel, has raised fixed-line telephone rates by S$10 (RM24) from Jan 1. Annual residential and business rates will be S$110 (RM262) and S$160 (RM380), respectively.
The technical recession — particularly the repercussion of state profits in times of crisis — will likely increase political pressure on the government.
Some observers believe that if the fallout were to result in severe hardship, it could impact the election due in two or three years’ time.
Much depends on how much the bulk of the heartland voters are affected by recession and inflation.
The ruling People’s Action Party (PAP) has won credit for Singapore’s rapid progress in the past 40 years, which turned Singapore into an advanced global city.
But when things go wrong, it will take a proportionately larger blame.
Lately, there have been calls for the government to draw on state reserves to provide relief to stricken — especially unemployed — Singaporeans, instead of investing them in Western banks with questionable returns.
In the past, such appeals had been rejected with the explanation that reserves were meant for a rainy day. The debate now is: Have the heavy rains started?
The power price rise has revisited the matter of state corporatism in times of crisis.
The Singapore government is both a provider of public services as well as — at least indirectly — a major seller of these services for the state’s coffers.
In happy times, it evokes little complaint since in contributes to substantial asset accumulation; the profits go back to Singaporeans collectively.
But in times of hardship, this role of provider-cum-seller of public services becomes hard to balance. How far should profit in state-controlled firms be allowed in times of trouble?
So far, there is no sign that any change is forthcoming, at least not until the level of public suffering hits an unbearable level.
Tuesday, October 14, 2008
AVOID PLACING HARD-EARNED MONEY INTO AUSSIE-DOLLAR DEPOSITS
AUD, NZD investors hit
Five-year lows of these two currencies hit S'poreans with big paper losses
INVESTORS tempted by the attractive interest rates offered for Aussie and Kiwi dollar fixed deposits are licking their wounds after the two currencies plunged to five-year lows.
Both types of fixed deposits offer generous interest rates, but they cannot cover for the dramatic loss in the value of the currencies.
One unhappy investor, who declined to be named, is sitting on a whopping $50,000 paper loss from a $200,000 Aussie dollar fixed deposit she had placed in July. That is a 25 per cent loss in just four months.
The interest rate offered was 5.765 per cent per year, almost 10 times better than the 0.6 per cent she was earning in a Singapore-denominated fixed deposit.
At the time, the Australian dollar was at a high of $1.319 to the Sing dollar. The currency fell to $1.025 to the Sing dollar late yesterday.
Now that the Australian and Singapore dollars are practically at parity, the woman, who is in her 20s, is regretting that investment.
She is holding on to the investment for as long as she can. She told The Straits Times ruefully: 'In the span of the next 20 years, hopefully the Aussie dollar will appreciate.'
Operations manager Kenneth Ang is nursing paper losses of about $8,000 on his Aussie-dollar fixed deposit.
He had put a 'large sum' of cash into a 12-month fixed deposit in a Singapore bank about eight months ago, when the Aussie was markedly stronger - trading at about $1.295 to the Sing dollar.
He said he was 'a bundle of nerves' on Wednesday when the currency fell to a six-year low of 96.17 Singapore cents, before bouncing back somewhat yesterday.
But he is not about to cash out yet.
'Thankfully, the Aussie dollar recovered the next day, and I hope it stays that way,' he said. 'I'm not going to withdraw my deposit prematurely as I don't want to fork out the penalty on top of all my losses.'
Another investor, who gave his name only as Mr Chan, has been hit by paper losses of $10,000 on his $70,000 deposit and is also planning 'to wait it out'.
Meanwhile, the Kiwi dollar fell to as low as 86.76 Singapore cents this week, down from $1.1215 a year ago.
Until this August, banks had seen steady investor interest in the fixed deposits of these two currencies. This is thanks to the relatively high rates of over 6.3 per cent for Aussie-dollar deposits and over 8.1 per cent for the New Zealand-dollar ones - a far cry from the 1 per cent on similar Singapore-dollar deposits.
These interest rates had been among the highest among medium-sized economies. The currencies' popularity was also boosted by a commodities boom, since both countries are major exporters of metals and other resources.
But now, banks say there is scant interest.
Ms Janice Poon, Standard Chartered Bank Singapore's general manager of wealth management, noted that the Australian dollar and New Zealand dollar are both likely to weaken even further against the Singapore dollar over the coming months.
That is because Australia's and New Zealand's central banks are likely to cut interest rates drastically as the global credit crisis unfolds, she explained.
Lower rates make the currencies less attractive to hold. Global investors sell them, causing them to weaken further.
Some analysts also think the currencies will drop because of weakening global demand for commodities.
In addition, experts warn that interest rates on these deposits are also likely to come down.
Earlier this week, the Reserve Bank of Australia (RBA) set the ball rolling by cutting the benchmark interest rate Down Under by a full percentage point from 7 per cent to 6 per cent.
Mr Emmanuel Ng, OCBC Bank forex strategist, noted that 'the potential for both the RBA and the Reserve Bank of New Zealand to deliver further interest rate cuts remain a very real proposition'.
Financial "Armaggedon"
Some mind bogging figures (yes, all losses) of the last few days of market 'madness'.
Here's a list of the losses in market capitalization for 25 of the biggest financials since their rough peaks in October 2007.
Keep in mind that these companies were once the darling blue chips in the market.
These losses include:
A I G -Then: $178.8 billion... Now: $5.46 billion. Down 96.95%
Bank of America -Then: $236.5 billion... Now: $123.4 billion. Down: 47.82%
Citigroup -Then: $236.7 billion... Now: $76.34 billion. Down 67.75%
Merrill Lynch - Then: $63.9 billion... Now: $30.2 billion. Down 52.74%
Fannie Mae - Then: $64.8 billion... Now: $0.45 billion. Down 99.3%
Morgan Stanley - Then: $73.1 billion... Now: $41.1 billion. Down 43.78%
Wachovia - Then: $98.3 billion... Now: $19.44 billion. Down 80.22%
JP Morgan Chase - Then: $161 billion... Now: $130.2 billion. Down 19.13%
Capital One Financial - Then: $29.9 billion... Now: $16.9 billion. Down 43.48%
Washington Mutual - Then: $31.1 billion... Now: $3.64 billion. Down 88.3%
Lehman Bros. - Then: $34.4 billion... Now: $0.80 billion. Down 97.6%
Goldman Sachs - Then: 97.7 billion... Now: $40.6 billion. Down 58.7%
Wells Fargo - Then: $124.1 billion... Now: $111.25 billion. Down 10.35%
National City - Then: $16.4 billion... Now: $2.8 billion. Down 83%
Fifth Third Bancorp - Then: $18.8 billion... Now: $7.9 billion. Down 57.6%
American Express - Then: $74.8 billion... Now: $37.5 billion. Down 49.87%
Freddie Mac - Then: $41.5 billion... Now: $0.16 billion. Down 58.7%
Suntrust Banks - Then: $27 billion... Now: $16.07 billion. Down 58.7%
BB&T - Then: $23.2 billion... Now: $18.4 billion. Down 20.69%
Marshall & Ilsley - Then: $11.6 billion... Now: $4.48 billion. Down 61.3%
Keycorp - Then: $13.2 billion... Now: $5.68 billion. Down 56.97%
Legg Mason- Then: $11.4 billion...Now: $4.96 billion. Down 56.49%
Comerica- Then: $8.3 billion...Now: $4.74 billion. Down 42.89%
Countrywide Financial: Then: $11.1 billion...Now: $0.00 billion. Down 100%
Bear Stearns- Then: $14.8 billion...Now: $ 0.00 billion. Down 100%
Together these 25 companies alone have lost investors a total of $992,690,000,000 over the last 12 months... or nearly 1 trillion dollars. The Americans had them too good for too long.
Watch out - Many more will fall.
So don't ever think your own local BLUES are forever safe!
Nothing is 100% safe in this World. Remember that!
Here's a list of the losses in market capitalization for 25 of the biggest financials since their rough peaks in October 2007.
Keep in mind that these companies were once the darling blue chips in the market.
These losses include:
A I G -Then: $178.8 billion... Now: $5.46 billion. Down 96.95%
Bank of America -Then: $236.5 billion... Now: $123.4 billion. Down: 47.82%
Citigroup -Then: $236.7 billion... Now: $76.34 billion. Down 67.75%
Merrill Lynch - Then: $63.9 billion... Now: $30.2 billion. Down 52.74%
Fannie Mae - Then: $64.8 billion... Now: $0.45 billion. Down 99.3%
Morgan Stanley - Then: $73.1 billion... Now: $41.1 billion. Down 43.78%
Wachovia - Then: $98.3 billion... Now: $19.44 billion. Down 80.22%
JP Morgan Chase - Then: $161 billion... Now: $130.2 billion. Down 19.13%
Capital One Financial - Then: $29.9 billion... Now: $16.9 billion. Down 43.48%
Washington Mutual - Then: $31.1 billion... Now: $3.64 billion. Down 88.3%
Lehman Bros. - Then: $34.4 billion... Now: $0.80 billion. Down 97.6%
Goldman Sachs - Then: 97.7 billion... Now: $40.6 billion. Down 58.7%
Wells Fargo - Then: $124.1 billion... Now: $111.25 billion. Down 10.35%
National City - Then: $16.4 billion... Now: $2.8 billion. Down 83%
Fifth Third Bancorp - Then: $18.8 billion... Now: $7.9 billion. Down 57.6%
American Express - Then: $74.8 billion... Now: $37.5 billion. Down 49.87%
Freddie Mac - Then: $41.5 billion... Now: $0.16 billion. Down 58.7%
Suntrust Banks - Then: $27 billion... Now: $16.07 billion. Down 58.7%
BB&T - Then: $23.2 billion... Now: $18.4 billion. Down 20.69%
Marshall & Ilsley - Then: $11.6 billion... Now: $4.48 billion. Down 61.3%
Keycorp - Then: $13.2 billion... Now: $5.68 billion. Down 56.97%
Legg Mason- Then: $11.4 billion...Now: $4.96 billion. Down 56.49%
Comerica- Then: $8.3 billion...Now: $4.74 billion. Down 42.89%
Countrywide Financial: Then: $11.1 billion...Now: $0.00 billion. Down 100%
Bear Stearns- Then: $14.8 billion...Now: $ 0.00 billion. Down 100%
Together these 25 companies alone have lost investors a total of $992,690,000,000 over the last 12 months... or nearly 1 trillion dollars. The Americans had them too good for too long.
Watch out - Many more will fall.
So don't ever think your own local BLUES are forever safe!
Nothing is 100% safe in this World. Remember that!
Friday, October 10, 2008
DARE GAME TO PLAY AT WORK
OFFICE DARES
One Point Dares
1. Ignore the first five people who say 'good morning' to you.
2. To signal the end of a conversation, clamp your hands over your ears and grimace.
3. Leave your fly open for one hour. If anyone points it out, say, "Sorry, I really prefer it this way".
4. Walk sideways to the photocopier.
5. While riding in an elevator, gasp dramatically every time the doors open.
6. When in elevator with one other person, tap them on the shoulder and pretend it wasn't you.
7. Finish all your sentences with "In accordance with the prophecy..."
8. Don't use any punctuation.
9. Interrupt your conversation with someone by giving a huge dejected sigh.
10. Use your highlighter pen on the computer screen.
Three Point Dares
1. Say to your boss, "I like your style", wink, and shoot him with double-barrelled fingers.
2. Kneel in front of the water cooler and drink directly from the nozzle.
3. Shout random numbers while someone is counting.
4. Every time you get an email, shout ''email''.
5. Put decaf in the coffee maker for 3 weeks. Once everyone has got over his or her caffeine addictions, switch to espresso.
6. Keep hole punching your finger. Each time you do, shout, "dagnamit, it's happened again!". Then do it again.
7. Introduce yourself to a new colleague as "the office bicycle". Then wink and pout.
8. Call I.T. helpdesk and tell them that you can't seem to access any p*rnography web sites.
Five Point Dares
1. At the end of a meeting, suggest that, for once, it would be nice to conclude with the singing of the national anthem (extra points if you actually launch into it yourself).
2. Walk into a very busy person's office and while they watch you with growing irritation, turn the light switch on/off 10 times.
3. For an hour, refer to everyone you speak to as "Dave".
4. Announce to everyone in a meeting that you "really have to go do a number two".
5. When you've picked up a call, before speaking finish off some fake conversation with the words, ''she can abort it for all I care''.
6. After every sentence, say 'Mon' in a really bad Jamaican accent. As
in: "The report's on your desk, Mon." Keep this up for one hour.
7. In a meeting or crowded situation, slap your forehead repeatedly and mutter, "Shut up, damn it, all of you just shut up!"
8. At lunchtime, get down on your knees and announce, "As God is my witness, I'll never go hungry again!"
9. Repeat the following conversation 10 times to the same person: "Do you hear that?" "What?" "Never mind, it's gone now."
10. Present meeting attendees with a cup of coffee and biscuit; smash each biscuit with your fist.
11. During the course of a meeting, slowly edge your chair towards the door.
12. As often as possible, skip rather than walk.
13. Ask people what sex they are. Laugh hysterically after they answer.
14. Dry hump the photocopier. When someone spots you, stop and cough embarrassingly, then lean in to the machine and whisper loudly, "I'll see you tonight".
One Point Dares
1. Ignore the first five people who say 'good morning' to you.
2. To signal the end of a conversation, clamp your hands over your ears and grimace.
3. Leave your fly open for one hour. If anyone points it out, say, "Sorry, I really prefer it this way".
4. Walk sideways to the photocopier.
5. While riding in an elevator, gasp dramatically every time the doors open.
6. When in elevator with one other person, tap them on the shoulder and pretend it wasn't you.
7. Finish all your sentences with "In accordance with the prophecy..."
8. Don't use any punctuation.
9. Interrupt your conversation with someone by giving a huge dejected sigh.
10. Use your highlighter pen on the computer screen.
Three Point Dares
1. Say to your boss, "I like your style", wink, and shoot him with double-barrelled fingers.
2. Kneel in front of the water cooler and drink directly from the nozzle.
3. Shout random numbers while someone is counting.
4. Every time you get an email, shout ''email''.
5. Put decaf in the coffee maker for 3 weeks. Once everyone has got over his or her caffeine addictions, switch to espresso.
6. Keep hole punching your finger. Each time you do, shout, "dagnamit, it's happened again!". Then do it again.
7. Introduce yourself to a new colleague as "the office bicycle". Then wink and pout.
8. Call I.T. helpdesk and tell them that you can't seem to access any p*rnography web sites.
Five Point Dares
1. At the end of a meeting, suggest that, for once, it would be nice to conclude with the singing of the national anthem (extra points if you actually launch into it yourself).
2. Walk into a very busy person's office and while they watch you with growing irritation, turn the light switch on/off 10 times.
3. For an hour, refer to everyone you speak to as "Dave".
4. Announce to everyone in a meeting that you "really have to go do a number two".
5. When you've picked up a call, before speaking finish off some fake conversation with the words, ''she can abort it for all I care''.
6. After every sentence, say 'Mon' in a really bad Jamaican accent. As
in: "The report's on your desk, Mon." Keep this up for one hour.
7. In a meeting or crowded situation, slap your forehead repeatedly and mutter, "Shut up, damn it, all of you just shut up!"
8. At lunchtime, get down on your knees and announce, "As God is my witness, I'll never go hungry again!"
9. Repeat the following conversation 10 times to the same person: "Do you hear that?" "What?" "Never mind, it's gone now."
10. Present meeting attendees with a cup of coffee and biscuit; smash each biscuit with your fist.
11. During the course of a meeting, slowly edge your chair towards the door.
12. As often as possible, skip rather than walk.
13. Ask people what sex they are. Laugh hysterically after they answer.
14. Dry hump the photocopier. When someone spots you, stop and cough embarrassingly, then lean in to the machine and whisper loudly, "I'll see you tonight".
WE ARE IN THE POOR HOUSE..woo hooo
It added that Singapore's export-oriented sectors, such as manufacturing, will be affected, noting that Europe is also facing severe strains in the banking sector, tighter credit conditions, and adjustments in housing prices
SINGAPORE has slipped into recession and the Government has revised its 2008 growth forecast to around 3 per cent from a previous estimate of 4 to 5 per cent.
The economy shrank at an annualised, seasonally adjusted rate of 6.3 per cent in the third quarter, according to third quarter advance estimates released by the Ministry of Trade and Industry on Friday morning, pushing the export-dependent economy into its first recession since 2002.
The government also revised down its 2008 growth forecast to around 3 per cent from a previous estimate of 4 to 5 per cent.
Economists had expected the Republic to narrowly escape a recession in the third quarter by growing 1.1 per cent, lifted by a slight improvement in electronics output.
A recession is often defined as two consecutive quarters of economic contractions.
The deepening financial crisis, which sparked banking crises in the United States, Iceland, Britain, Germany and Ireland, is threatening to drag the world economy into recession.
The advance estimate, based largely on July and August data, gives an early indication of the economy's performance during the July-September period.
MTI said the Singapore economy is estimated to contract by 0.5 per cent in the third quarter, than a year ago.
On a seasonally adjusted, annualised quarter-on-quarter basis, real GDP declined by 6.3 per cent, following a 5.7 per cent decline in the previous quarter.
On the outlook for the year, MTI said since the revised GDP forecast in August, 'external economic conditions have deteriorated more than expected and some sectors of the economy have weakened significantly on account of industry-specific or domestic factors.
'The worsening of the financial crisis in the US in recent weeks has deepened the credit crunch, making it more difficult for businesses to sustain economic activities. With unemployment on the rise and house prices continuing to fall, US consumer sentiment has weakened further and will affect demand for exports from Asia and the rest of the world.'
It added that Singapore's export-oriented sectors, such as manufacturing, will be affected, noting that Europe is also facing severe strains in the banking sector, tighter credit conditions, and adjustments in housing prices.
Growth in major economies such as Germany, France, Italy and the UK has dipped sharply in the second quarter.
Growth forecasts for several Asian economies, such as China, India and South Korea, have been revised downwards since the start of the year.
The estimates showed that Singapore's manufacturing sector continued to be weighed down by the negative growth in biomedical sciences, as pharmaceutical companies are still producing a mix of pharmaceutical ingredients with values lower than compared to a year ago.
The precision engineering and chemicals clusters have also slowed, because of weaker external demand.
The construction sector grew by 7.8 per cent in the third quarter, compared to the 18.3 per cent growth in the first half of 2008. Despite a strong pipeline of construction projects, a shortage of contractors, a tight labour market for engineers and project managers, and longer waiting times for equipment, have delayed the realisation of these projects.
MTI said the financial services sector is likely to see slower growth in the coming months as the ongoing global financial crisis has heightened uncertainties for sentiment-sensitive segments such as stocks trading and fund management activities.
'Taking into account the slowdown in the global economy and key domestic sectors, MTI has revised the 2008 GDP growth forecast to around 3 per cent. The inflation forecast of 6 - 7 per cent for 2008 remains unchanged,' it said.
Thursday, October 9, 2008
Top 20 stalls to EAT AND EAT AND EAT!!!
1. ROTI PRATA
Who: Thasevi Food Famous Jalan Kayu Prata Restaurant
Where: 235-239 Jalan Kayu
2. CHAR KWAY TEOW
Who: Hill Street Fried Kway Teow
Where: Block 16, Bedok South Road, 01-187 Bedok South Road Market & Food Centre
3. FRIED HOKKIEN MEE
Who: Nam Sing Hokkien Fried Prawn Mee (Hougang)
Where: Block 51, Old Airport Road, 01-32 Old Airport Road Food Centre
4. CHICKEN RICE
Who: Tian Tian Hainanese Chicken Rice
Where: Maxwell Road, Stall 10 Maxwell Market
5. PRAWN MEE
Who: Beach Road Prawn Noodle House
Where: 370 East Coast Road
6. WONTON MEE
Who: Ji Ji Wanton Noodle Specialist
Where: Block 531A, Upper Cross Street, 02-49 Hong Lim Food Complex
7. MINCED PORK NOODLES
Who: Tong Ji Mian Shi
Where: Block 505, Beach Road, 01-100 Golden Mile Food Centre
8. OYSTER OMELETTE
Who: Katong Oyster Omelette
Where: Geylang Lorong 9, Xin Lai Lai
9. FRIED CARROT CAKE
Who: Chey Sua Carrot Cake
Where: Block 127, Toa Payoh Lorong 1, 02-30 Toa Payoh Lorong 1 Food Centre
10. NASI LEMAK
Who: Selera Rasa Nasi Lemak
Where: 2, Adam Road, Stall 2 Adam Road Food Centre
11. MEE REBUS
Who: Goody N Jolly
Where: 80, Marine Parade Road B1-113 Parkway Parade Shopping Centre
12. MEE SIAM
Who: Goody N Jolly
Where: 80, Marine Parade Road, B1-113 Parkway Parade Shopping Centre
13. INDIAN ROJAK
Who: Sabeena's Indian Rojak (Halal)
Where: Block 270, Queen's Street, 01-152 Albert Centre
14. YONG TAU FOO
Who: Shun Li
Where: Block 115, Bukit Merah View, 01-397, Bukit Merah View Market & Food Centre
15. FISH SOUP
Who: Blanco Court Fried Fish Soup
Where: 341 Beach Road
16. MEE GORENG
Who: Sabeena's Indian Rojak (Halal)
Where: Block 270, Queen's Street, 01-152 Albert Centre
17. NASI BRYANI
Who: Singapore Zam Zam Restaurant
Where: 697-699 North Bridge Road
18. BAK KUT TEH
Who: Founder Rou Gu Cha Cafeteria
Where: 347, Balestier Road
19. KWAY CHAP
Who: Zhu Jia Pig Organ Soup
Where: Block 504, Bishan St 11, Stall 9 S11 Food Court
20. LAKSA
Who: 328 Katong Laksa
Where: 216, East Coast Road
S$1 billion profit, so electricity tariffs raised 22%
S$1 billion profit, so electricity tariffs raised 22%
SP Services has announced that it has raised electricity tariffs 21.89% from 1 Oct to 31 Dec 2008. The Online Citizen's Leong Sze Hian has pointed out that SP Services' parent company, Singapore Power Ltd, made a profit of S$1.086 billion in 2007. I checked out their website and indeed this is true.
They made over S$1 billion in PROFITS and they are increasing tariffs by 22% ! And all this when oil prices are actually decreasing.
Of course, since it is not useful for our power companies to use the current oil prices to justify the increase, they are using the 'forward fuel oil price'. This is the price agreed between the buyer and the seller for delivery of the oil at a specified future date, in this case 3 months.
As with the Public Transport Council (PTC) and ministerial salaries, the Energy Market Authority (EMA) is using this ridiculous formula to justify price increases.
It's really shocking how the EMA has gone to the hilt to defend the price increases of the company they are supposed to regulate. But on closer examination, it's not all that surprising:
- Singapore Power made S$1 billion in 2007, much of it from Singaporeans' electricity fees.
- SP is in turn 100% owned by Temasek Holdings ( as are the two other power companies, PowerSeraya and Senoko Power ).
- Temasek Holdings is owned by the Ministry of Finance.
- EMA, the energy market regulator, is a statutory board under the Ministry of Trade and Industry ( as is the Competition Commission of Singapore, which is supposed to prevent cartel-like behavior ).
I think everyone is having a jolly good back-scratch, except us ordinary citizens.
Something is seriously amiss when a power company can make S$1 billion in profits and still raise charges by 22%. It is a classic example of the profit-driven culture that our government is run on. I really don't know how much longer Singaporeans are going to stand for this kind of nonsense.
barcode of china made : " black hearted good "
quite abit of useful information here..
Dear all friends
The whole world is scared of China made "black hearted goods"
Can you differentiate which one is made in Taiwan or China? Lets me tell u … the first 3 digits of barcode 690.691.692 is made in CHINA. Do not ever buy it for your own healthy.
471 is Made in Taiwan
Nowadays, China businessmen know the consumers do not prefer products "made in china", so they won't show made from which country.
However, you may now refer to the barcode, if the first 3 digits is 690-692 then it is made in China.
SG products start with 888...
China-made will be 690, 691 and 692.. etc.
471 is Made in Taiwan
００～０９美國及加拿大 USA & Canada
３０～３７法國 France
４０～４４國 Germany
４９－日本 Japan
５０－英國 UK
７６－瑞士 Swiss
Summary of no of job losses in each bank..WTF mate...
The figures below are based on our best estimates. In many cases, the firms themselves won't confirm (for obvious reasons) the number of staff they are letting go.
Bear Stearns - 7,500 job losses, 14,000 financial markets jobs, 53.5% of the total
Lehman Brothers - 14,500, 30,000, 48.3%
Wachovia - 1,400, 3,900, 35.8%
Citi - 7,900, 30,000, 26.3%
UBS - 5,800, 22,300, 26%
Royal Bank of Scotland / ABN AMRO - 7,000, 28,000, 25%
WestLB - 1,530, 6,120, 25%
Fortis / ABN AMRO Asset Management - 490, 2000, 24.5%
Thomas Weisel Partners - 160, 800, 20%
UniCredit - 700, 3,500, 20%
Bank of America - 3,650, 20,000, 18.2%
Mitsubishi UJF Financial (Europe) - 90, 590, 15.2%
Mizuho Financial Group - 300, 2,000, 15%
Jefferies & Co - 270, 2,200, 12.2%
HSBC - 2,900, 25,000, 11.6%
Morgan Stanley - 5,400, 47,050, 11.4%
Fitch Ratings - 130, 1,400, 9.2%
Credit Suisse - 1,800, 20,000, 9%
Merrill Lynch - 5,600, 63,100, 8.8%
Fidelity International - 170, 2,000, 8.5%
Goldman Sachs - 2,500, 32,000, 8.3%
JPMorgan - 2,000 25,000, 8%
Dresdner Kleinwort - 450, 6,000, 7.5% (Dresdner's merger with Commerzbank looks likely to result in some 2,000 additional job losses over at Dresdner Kleinwort)
Bank of Montreal (BMO Nesbitt Burns) - 150, 2,400, 6.25%
Moody's Investor Services - 180, 3,000, 6%
Calyon - 750, 13,000 - 5.7%
Thomson Reuters - 2,500, 50,000, 5%
Henderson Global Investors - 45, 980, 4.6%
Nomura Holdings - 440, 10,000, 4.4%
Deutsche Bank - 800, 20,000, 4.0%
CIBC World Markets - 100, 2,600, 3.8%
Daiwa SMBC Europe - 25, 800, 3.1%
Barclays Capital - 320, 16,200, 1.9%
SG Corporate & Investment Banking - 200, 10,500, 1.9%
BNP Paribas - 220, 13,000, 1.7%
the no of jobs lost by each bank..
Bear Stearns - 7,500 job losses, 14,000 financial markets jobs, 53.5% of the total
Lehman Brothers - 14,500, 30,000, 48.3%
Wachovia - 1,400, 3,900, 35.8%
Citi - 7,900, 30,000, 26.3%
UBS - 5,800, 22,300, 26%
Royal Bank of Scotland / ABN AMRO - 7,000, 28,000, 25%
WestLB - 1,530, 6,120, 25%
Fortis / ABN AMRO Asset Management - 490, 2000, 24.5%
Thomas Weisel Partners - 160, 800, 20%
UniCredit - 700, 3,500, 20%
Bank of America - 3,650, 20,000, 18.2%
Mitsubishi UJF Financial (Europe) - 90, 590, 15.2%
Mizuho Financial Group - 300, 2,000, 15%
Jefferies & Co - 270, 2,200, 12.2%
HSBC - 2,900, 25,000, 11.6%
Morgan Stanley - 5,400, 47,050, 11.4%
Fitch Ratings - 130, 1,400, 9.2%
Credit Suisse - 1,800, 20,000, 9%
Merrill Lynch - 5,600, 63,100, 8.8%
Fidelity International - 170, 2,000, 8.5%
Goldman Sachs - 2,500, 32,000, 8.3%
JPMorgan - 2,000 25,000, 8%
Dresdner Kleinwort - 450, 6,000, 7.5% (Dresdner's merger with Commerzbank looks likely to result in some 2,000 additional job losses over at Dresdner Kleinwort)
Bank of Montreal (BMO Nesbitt Burns) - 150, 2,400, 6.25%
Moody's Investor Services - 180, 3,000, 6%
Calyon - 750, 13,000 - 5.7%
Thomson Reuters - 2,500, 50,000, 5%
Henderson Global Investors - 45, 980, 4.6%
Nomura Holdings - 440, 10,000, 4.4%
Deutsche Bank - 800, 20,000, 4.0%
CIBC World Markets - 100, 2,600, 3.8%
Daiwa SMBC Europe - 25, 800, 3.1%
Barclays Capital - 320, 16,200, 1.9%
SG Corporate & Investment Banking - 200, 10,500, 1.9%
BNP Paribas - 220, 13,000, 1.7%
the no of jobs lost by each bank..
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