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thanks dude. thats good news indeed. think the bears decided to play with genting instead....after bleeding right now hitting my left haha. oh well.. at least my baby Ying Li is not bleeding that much today.thank god for small mercy.
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that is why LVsands is losing money yet once again. as a player i would visit a "fair" casino. i think they give out free food and free staysetc to big punters small punters go home yourselves...like my friends mom she go there free ticks, free rooms, free food, free limo etc...i guess thats how they give back.
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ok trading ended so what is the damage for ying li??pls someone inform i dare not log in haha
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haiiz i only bought 5 lot at 0.125 sigh and she only buy 10 lot....that time no one even think about HW yet and nowi regret i never buy more...cause just learning so thought buy small small also good....regret.
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so is it good or bad??? I dare not log into poems to look at the stocks haha
pharoah88 ( Date: 19-Feb-2010 16:06) Posted:
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Temasek sold CitiGroup and bought into China Construction Bank [CCB] in 2009.
Q U O T E:
Bank Shares
Hong Kong-listed Industrial & Commercial Bank of China Ltd., the world’s largest bank by market capitalization, has dropped 13 percent this year. China Construction Bank Corp., the second-largest, has fallen 11 percent. Both are based in Beijing. Hong Kong’s benchmark Hang Seng Index has declined 7.3 percent over the same period.
Hang Seng Index has declined 7.3 percent over the same period.
U N Q U O T E
FearValueGreed ( Date: 14-Feb-2010 10:08) Posted:
Gong Xi Fa Cai for those who can buy at ten cents.
Feb. 12 (Bloomberg) -- Jack Rodman, who has made a career of selling soured property loans from Los Angeles to Tokyo, sees a crash looming in China. He keeps a slide show on his computer of empty office buildings in Beijing, his home since 2002. The tally: 55, with another dozen candidates.
“I took these pictures to try to impress upon these people the massive amount of oversupply,” said Rodman, 63, president of Global Distressed Solutions LLC, which advises private equity and hedge funds on Chinese property and banking. Rodman figures about half of the city’s commercial space is vacant, more than was leased in Germany’s five biggest office markets in 2009.
Beijing’s office vacancy rate of 22.4 percent in the third quarter of last year was the ninth-highest of 103 markets tracked by CB Richard Ellis Group Inc., a real estate broker. Those figures don’t include many buildings about to open, such as the city’s tallest, the 6.6-billion yuan ($966 million) 74- story China World Tower 3.
Empty buildings are sprouting across China as companies with access to some of the $1.4 trillion in new loans last year build skyscrapers. Former Morgan Stanley chief Asia economist Andy Xie and hedge fund manager James Chanos say the country’s property market is in a bubble.
“There’s a monumental property bubble and fixed-asset investment bubble that China has underway right now,” Chanos said in a Jan. 25 Bloomberg Television interview. “And deflating that gently will be difficult at best.”
Third Costliest
Investor concerns have spread beyond real estate. Among 15 major Asian markets, the benchmark Shanghai Composite Index is valued third-highest relative to estimates for this year’s earnings, after Japan and India, even after falling 8 percent this year.
A glut of factories in China is “wreaking far-reaching damage on the global economy,” stoking trade tensions and raising the risk of bad loans, the European Union Chamber of Commerce in China said in November.
More than 60 percent of investors surveyed by Bloomberg on Jan. 19 said they viewed China as a bubble, and three in 10 said it posed the greatest downside risk. The quarterly poll interviewed a random sample of 873 Bloomberg subscribers and had a margin of error of 3.3 percentage points.
Digesting the debt from a popped property bubble may slash bank lending and drag growth lower for years in an economy that Nomura Holdings Inc., Japan’s biggest brokerage, says will provide more than a third of world growth in 2010.
Japanese Comparison
The risks are so great that a decade of little or no growth, as Japan experienced in the 1990s, can’t be dismissed, said Patrick Chovanec, an associate professor in the School of Economics and Management at Beijing’s Tsinghua University, ranked China’s top university by the Times newspaper in London.
The Nikkei 225 Stock Average surged sixfold and commercial property prices in metropolitan Tokyo rose fourfold before the bubble burst in 1990. The Nikkei trades at about a quarter of its December 1989 peak.
“You have state-owned enterprises using borrowed funds from the stimulus bidding up the price of land -- not even desirable plots of land -- in Beijing to astronomical rates,” Chovanec said. “At the same time you have 30 percent-plus vacancy rates and slumping rents in commercial property so it’s just a case of when you recognize the losses -- or don’t.”
China’s lending surged to 1.39 trillion yuan in January, more than in the previous three months combined. Property prices in 70 cities climbed 9.5 percent from a year earlier, the most in 21 months.
Reasonable Control
Policy makers are starting to rein in the loans that helped fuel the property boom. Banks should “strictly” follow real estate lending policies, the China Banking Regulatory Commission said on its Web site on Jan. 27. It called for banks to “reasonably control” lending growth.
The People’s Bank of China today ordered banks to set aside more deposits as reserves for the second time in a month to help cool expansion in lending. The requirement will increase 50 basis points effective Feb. 25, the central bank said on its Web site. The current level is 16 percent for big banks and 14 percent for smaller ones.
“The liquidity bubble last year went to the property market,” said Taizo Ishida, San Francisco-based lead manager for the $212-million Matthews Asia Pacific Fund, in a phone interview. “I was in Shanghai and Shenzhen three weeks ago and the prices were just eye-popping, just really amazing. Generally I’m not buying Chinese stocks.”
‘Dubai Times 1,000’
Chanos, founder of New York-based Kynikos Associates Ltd., predicted that China could be “Dubai times 100 or 1,000.” Real estate prices there have fallen almost 50 percent from their 2008 peak as the emirate struggles under at least $80 billion of debt. The economy may shrink 0.4 percent this year, Shuaa Capital, the biggest U.A.E. investment bank, says.
The commercial property space under construction in China at the end of November was the equivalent of 6,800 Burj Khalifas -- the 160-story Dubai skyscraper that’s the world’s tallest.
It’s difficult to determine how exposed Chinese banks are to real estate debt because loans booked to some state-owned companies as industrial lending may have been used to invest in property, say Xie and Charlene Chu, who analyzes Chinese banks for London-based Fitch Ratings Ltd. in Beijing.
A drop in the property market may be accompanied by a surge in nonperforming loans. The Shanghai office of the banking regulatory commission said on Feb. 4 that a 10 percent fall in property values would triple the ratio of delinquent mortgages there.
Bank Shares
Hong Kong-listed Industrial & Commercial Bank of China Ltd., the world’s largest bank by market capitalization, has dropped 13 percent this year. China Construction Bank Corp., the second-largest, has fallen 11 percent. Both are based in Beijing. Hong Kong’s benchmark Hang Seng Index has declined 7.3 percent over the same period.
Fund manager Joseph Zeng says he has a contrarian view on China’s banks, on the grounds that rising interest rates this year will benefit their net interest margins.
“For us, non-performing loans are not expected to be a big issue until 2013, the peak of the current economic cycle,” said Zeng, head of Greenwoods Asset Management Ltd.’s Hong Kong office, in a phone interview. He declined to say what he is buying. Greenwoods has more than $500 million under management.
China has firepower to deal with a crisis. The nation has the world’s largest foreign exchange reserves, at $2.4 trillion, and government debt of only about 20 percent of GDP last year, according to the International Monetary Fund. That compares with 85 percent in India and the U.S. and 219 percent in Japan.
Own-Use Excluded
CB Richard Ellis doesn’t count empty office buildings bought by banks and insurance companies when calculating vacancy rates, since some of the space is for the owners’ use. The Los Angeles-based company said in a report that vacancy rates are starting to fall and rents to rise for the best office buildings as China’s fast economic growth buoys demand.
Gross domestic product expanded 10.7 percent in the fourth quarter from a year before, a two-year-high, after the government introduced a $586-billion stimulus package.
“In many cases when you look at these buildings and say, that’s never going to be fully occupied, somehow 12 to 18 months later the building is full,” said Chris Brooke, CB Richard Ellis’s Beijing-based president and chief executive officer for Asia.
Overcapacity may be looming in manufacturing as well. China’s investments in new factories and properties surged 67 percent last year to 15.2 trillion yuan, more than Russia’s gross domestic product. Excess steel capacity may have reached about 132 million tons in 2009, more than the 87.5 million tons from Japan, the world’s second-biggest producer. The Beijing- based EU Chamber of Commerce report said a “looming deluge” of extra cement capacity is being built.
Balance Sheet Deterioration
While neither Xie nor Chu see nonperforming loan ratios reaching the level of a decade ago, when they made up 40 percent of total lending, they say banks will see deterioration in their balance sheets.
“A lot of people will lose a lot of money, but the banks will probably not go down like in the 1990s,” Xie said in a phone interview. “Of course there will be a lot of bad debts. There will be a lot of mortgages gone bad I think.”
Rodman displays the slide show to private equity and hedge fund clients brought in by banks such as Goldman Sachs Group Inc. at his office in eastern Beijing.
“China is the only place in the world that despite having more empty buildings than the rest of the world has yet to reflect those valuations on their balance sheet,” Rodman said.
Empty Buildings
Gazing south from the building that houses the Beijing headquarters of Goldman Sachs, UBS AG and JPMorgan Chase & Co., one of the first structures in the field of vision is a 17-story office tower at No. 9 Financial Street. Empty.
Farther along are the two 18-story towers of the Bank of Communications Co. complex. Dirt is gathering at the doors and the lobby is now a bicycle parking lot. A spokeswoman for the Shanghai-based lender didn’t return phone calls and e-mails.
The supply of office buildings will continue to grow. Jones Lang LaSalle Inc., a Chicago-based real-estate company, estimates that about 1.2 million square meters (12.9 million square feet) of office space in Beijing will come on line this year, adding to the total stock of 9.2 million square meters.
The city government is driving growth regardless of the market. Financial Street Holding Co., whose biggest shareholder is the local municipal district, plans to build 1 million square meters of additional office space starting this year, and is talking to potential clients such as JPMorgan, said Lydia Wang, the company’s head of investor relations.
Doubling the CBD
Across town, the district government is seeking to double the size of the city’s Central Business District, which already has the highest vacancy rate ever recorded in Beijing. It was 35 percent at the end of 2009, according to Jones Lang LaSalle.
For its part, Beijing-based Financial Street Holdings has “100 percent” of its properties, which include the Ritz Carlton hotel and a shopping mall, rented out, Wang said. The empty buildings along Finance Street don’t belong to the company, which is 26.6 percent owned by the district government.
Zhong Rongming, deputy general manager of the Beijing- based China World Trade Center Co., which built China World Tower 3, said the company is “optimistic about 2010 prospects” given China’s accelerating economic growth. He said the new tower will include tenants such as Mitsui & Co. and the Asian Development Bank.
One new addition to Finance Street may give real estate boosters cause for concern. No. 8 Finance Street will be the headquarters for China Huarong Asset Management Corp. |
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the bond holders almost finish selling liao or not?? still have how many to go...sigh. anyway house always win always win.
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thomas thomas you must tell ying ying mei mei u dun like her to go down all the time. up downup down also dun like u just like up up up haha. sigh when will think babe go up up up again??gotta wait...
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no she is working in a american distributor for medical products for hospital use. but it is on a good track so should be a good buy right now.
drsubaru ( Date: 19-Feb-2010 09:35) Posted:
Would your mom be working in HW? Then she would know, some clinics work non stop, no day no night one!!!! The drs and clinic assistants all no time for lunch or dinner break!!! Good example is Singapore Baby and Children Clinic at TMC, Silver Cross Family Clinic at Yishun etc.....this is pure madness!!!!
yummygd ( Date: 18-Feb-2010 10:13) Posted:
| my mom is working in the medical industry and the industry players knows how well healthway is doing...think just blindly jump in arh.Top bosses are all now eyeing Healthway and agreeing that they are on the road to success. |
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ai ya it is not like ah boy say singapore will snow....dun forget LI BAI also "predicted" si chuan earth quake lei.. dun doubt ah boy what he say will one day come true one...when we dunno la...but sooner or later ma...like how the earth will end one day also ma...all predicted one....ten years later when market crashes den we will be like rememeber ah boy say it will crash?? dun pray pray
ronleech ( Date: 18-Feb-2010 10:07) Posted:
| Ah boy, How long it take? Before correct you say, then come the recent turnround you say same thing, now i think is intraday profit taking, you also say smae same...have to give timing to prove your credit mah...dun be like some ang mo analyst, mkt will crash and he still maintain the same view after 11 mths of recovery ..... i also know it will crash.... |
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i dun think they are allowed to gamble in macau...not meh??but anyway my friend say their travel agency is pack full with china tourists all requesting to go to genting. so its good news....now just bonds sellers selling their 80 centfor profit taking.this share wont go as low as 80 cent one la if go so low the bonds takers make what...anyhow stupid genting release bonds so early shit them.
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Anthony Genting will show you the money...i agree that following the market noise to buy is wrong but at the same time genting has big potential to make a shit load of money. the first few days of cny where people have to q 2 hours to get in let you know they are not lacking of business..
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ya lor thats what i told him too...he support MSands lor cause las vegas ma..say genting no class...wait end of year report out see wherether got class or not...Money is where the class is at right...duh
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my mom is working in the medical industry and the industry players knows how well healthway is doing...think just blindly jump in arh.Top bosses are all now eyeing Healthway and agreeing that they are on the road to success.
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wait lor if not sold...wait for bonds holders to finish selling. btw my husband went say super lousy but alot of china visitors...he keep saying sell sell but i say china or america or aust as long as come lose money can liao...dun forget china chinese cant go to macau.. hehe..and who is the biggest gambling race???remember the house ALWAYS WINS...and those holding stocks now are the house. just need sometime.....
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i just heard from my friend that the 100 dollars is not made by genting but the gov instead and the levy thing is new and so they have some cork up. Gov is to be blame la you think genting want that to happen meh..restricting gamblers for a casino is like slapping themselves in the face..chasing money cows out is the same.Gov is giving a happy ocassion a bad name and a bad taste. when marine sand open it willl be the same also la. But unfortunately it is not run by the gov so they will never take away the levy. notlike the race course and singapore pools....problem gambling den why not levy these places too?? Gov den heck if they make money or not cause not their problem ma.
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genting getting very good respones alot of the ticks are sold... shareholders congrates!!!Happy CNY. our decision to keep the stocks might be paying off soon!!
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spent the good half the nite thinking about the reserved of banksin china...it will hurt but itis needed...if china burst like the USA not only this counter every counter will die...at least we know that ying li is getting CB and right now getting a loan from banks is not the main issus with them.Of course with china milk CB makes investors scared...but just one question why will anyone buy into china milk with all the bad press about milk products in china(i presume they are dealing with milk). Anyway YingLi tong zi lets just sit tight and see how bad this will bleed us. In long term Ying Li will pay off....note here tightening doesnt mean stop. good companies will get the loans. Happy CNY nothing to do but to just see what this new step will take us...to take coomfort at least the chance of china pulling a USA on us is lowered.
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i seriously hope your milk will work out in the end. no wonder you so scared. I will be too. sigh but not all s chip bad eggs .lets hope ying li will not be one of them.but dunno if ying li mei mei can tahan another round of screwing by china.
On the other hand with all the reports around about ying li it sounded like it has a good foot hold in chong qing. i am not so worry about them defaulting or whatsnot but more on how bad news seems to hit this counter bad.. lets pray that ying li mei mei doesnt get hurt much more.so can start recovering.
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yes ? short it den. maxcty
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wah bet market open u will enjoy shorting alot of china counters. with or without germs hor.
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