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Why Datuk Chua is sacked after 21 months ?

winsonlee — Fri, 28 Aug 2009 01:46:09 +0000

There is no such thing as clean politics. Politics is always dirty. If MCA would want to sack him, they should have done it 21 months ago. why would they need to wait till today to decide that it is not appropriate for him to stay in the party due to the sex secandal ? Is it because someone felt threated and therefore looking for a reason to remove him ? How many people actually believe that politician is there to serve the public ? or is it more like they are there for their own personal benefit ? If their intention is just to serve the public, why is there a need to fear that their position is being threaten by their fellow mates ? If everyone has the same goal, does it matter who is doing a better job ? If MCA is run by a group of people who are seeking for personal benefit, it is just a matter of time the whole party crash and break apart. I wonder why some people’s mind are so shallow. They are thinking what they are getting now. But one thing they fail to realise is that they might be loosing even more in the future. What is the use of having greater power now if in the future the government is taken over by the opposition ?

BlueScope Steel Ltd (ASX:BSL) - Net Loss 66 Millions

winsonlee — Tue, 18 Aug 2009 13:26:43 +0000

1H FY2009 BSL announced Net Profit After Tax of A$407M.

Yesterday BSL just announced its 2009 FY result with a lost of A$66M.

It is expected that first half of FY 2010 BSL will continue to suffer a small lost.

BSL has shown multiple sign that this rally is unsustainable. On June 28, gravestone has already appeared. It closed at $3.07 from the high of $3.28. A total of 6.4% drop from the high. The correction did not happen till two weeks later which is after the announcement of the financial result.

From the trend line shown on the chart, the next support level will be at $2.60. Another 13% decrease to go. So start looking at this company if it is around that price. Anything above that i personally feel that it is overprice.

Australia Dodge Recession

winsonlee — Wed, 03 Jun 2009 10:25:19 +0000

Source : http://www.news.com.au/business/story/0,23636,25580772-462,00.html?from=public_rss

1) GDP up 0.4%

An announcement was made in regards of the GDP figure and it was 0.4%. Australia just manage to dodge recession by only having a quarter of negative GDP. Was it due to Mr Rudd 900 bucks ang pau ? I am sure it did help a little to lift the economy up. Many still eat out and shop as usual. Before the GDP figure is out i was questioning if we are in recession since i still see so many people out in the restaurant eating. But indeed true enough that we arent in recession. Unemployment rate is dropping so good news to those who looking for job or thought of changing job.

2) RBA maintain at 3%

Since the government is taking the effort to prolong the First Home Owner Boost, the RBA do not see any reason why there is a need to cut the RBA rates as auction clearance rate is still above 80% for the past three weeks. Clearance rate result can be observe through REIV website.

3) MYR vs AUD hit 2.88

Exchange rate for Malaysian dollar with Australian dollar did not stay at 2.4 for long. Major slump of australian currency is due to the low demand in the resource sector which is the major export for Australia. Demand for raw material is going up and this wil help to lift up Australian currency as well.

4) ASX200 broke 4000 point.

Australia share market officially broke the 4000 point after 7 months. Australia is on the verge of recovering. There is already sign showing that. People is spending. There are demand for raw material. Unemployment rate is going down. GDP figure is going up. I may be abit optimistic at this point of time. But there isnt any more negative factor that gonna push the economy further down.

US Bond Sales shore up gold price and australian currency

winsonlee — Sun, 31 May 2009 07:40:47 +0000

Oil is going up. Gold is going up. Even Australian dollar is going up as well. What is next ? Natural Gas, Silver or Uranium ? Gold went up 17.10 and close at $980.30. $1000 is a very strong resistant. Gold price break the 1000 resistant level in march 2008 but the price didnt stand there for long. In less then three days, gold price drop to $925. Some analyst actually mention that it is only worth while jumping into gold if gold price break the 1000 mark and hold on to that level for a period of time. Many rather pay an extra 10% premium knowing that gold is on the uptrend instead of holidng on to the metal not knowing which direction it is heading to. From the graph bellow, oil and australian currency is heading up as well. Gold and australian currency depends heavily on the Obama administration policy.

Last tuesday, $100bn bond is placed under the auction hammer. 10 Year yield bond is as high as 3.732 percent. US is creating paper to get more cash. The Obama administration needs to raise $2 trillian this year to cover the fiscal stimulus plan and the bank bail outs. $2 trillian may sounds alot. But it is just a number created by Obama administration to get their ass out from the mess. They can create 2 trillian today, what makes you think that they can’t creat 10 or 20 trillian tomorrow ? To them it is just a number. But to the rest of the world, the result of creating so much cash is devaluation of US currency. If US create another 8 triallian, this means that today’s US currency value is only 20% of what yesterday value is. If this is the case, do you think people or investor will still hold much of the US currency ? Gold is limited same goes to oil, silver or natural gas. Gold mining company can produce 2x of their current x production. But this also means that there will be lesser gold in the ground. We cant just plant gold from x amount to 2x amount on the ground so that we are able to get more out of it.

This actually shows that US action has shore up the gold and oil price.

Mind your own biz!

winsonlee — Wed, 13 May 2009 23:51:42 +0000

i wonder why the f*** is people so free to see if others has enough work to do instead of doing what they are suppose to do. I just cant believe this. why should this be their concern ? This suppose to be my manager concern, not theirs!!!!

Shameful of yourselves!!!

winsonlee — Tue, 12 May 2009 12:45:18 +0000

We have heard much from the news about the political conflict happening in perak. I do wonder if they do know what they are doing ? Doesnt BN realise that they are like a day time robbers who rob the rakyat’s rights and choice of government ? Worse is BN made the police robbing the rakyat freedom in wearing black. How silly can that be ? It is not a crime to wear black. Only thing i can say is that they did not choose the right day to wear black. BN doesn’t own the government. Neither do Pakatan. It belongs to the people, the rakyat in perak. Why fight for something that does not belong to them at the first place ?

MELBOURNE’S Property Prices Plunged

winsonlee — Sun, 10 May 2009 06:25:34 +0000

The map shows the annual change of price between Mar 2009 and Mar 2008.

Property in the inner east suburb has decreased significantly. Those area are highly priced and has increased significantly for the past few years. Now the price has pulled back to a more realistic level. Most of the areas in the east and south east are in red. Only a handful which are still appreciating during this time. Thou many area has shown sign of slowing down, but since the Federal Government has imposed the First Home Owner Boost, it has increase the demand for property. Although I do not have an economic degree or PHD, but i strongly believe that nothing is able to escape from the cycle. Oil price went up to $147 in July 2008 before retracting to marely $30 / barrel. The share market reach the level of 6750 before slumping down to 3145. Gold price reaches a high of $1088 before pulling back to $783. This applies to all the commodities as well eg iron ore, alluminium, copper, zink and silver.

I read the following article and the point stated is similar to what i have posted previously. I am not the only person whom have such thought and i believe there are 101 people out there who are thinking the same as well. I am not interested to take up th $24,000 grant. But i am more interested to know what will happend to the property price after the grant is over. After June 2009, people who are buying establish house is only getting peanuts from the government. Majority of the houses in eastern and south eastern suburn are establish houses. Only suburb like Pakenham, Cranburne and Berwick has land to build new houses. Those area are partically 50km away from the city. Last time I used to not go down to the city so often. Now i go down alot more often and distance is something I will have to take into consideration as well.

If the price of new homes is being pushed up by the government grants, should people wait until after June 30 when the prices could reduce? Or should they buy now with the extra grant money?

According to AccountantsRus chief executive, Adrian Raftery, first time and budget buyers should wait until the market settles down before taking a plunge into home ownership.

“The first home owners grant is merely inflating the property prices being paid by the size of the grant,” Mr Raftery said.

“You think we would have learnt from the credit crunch.

“Low interest rates and government grants have led to inflated housing prices again ignoring the recent lessons of the global financial crisis.

“I would rather miss out on $24,000 from the government than to lose $50,000 or $100,000 down the track,” he said.

The Government should shift first time buyers’ focus to the federal savings deposit scheme and encourage people to save a bigger deposit before buying, he said.

“It should be mandatory for potential buyers to have a 20 per cent deposit to reduce loan defaults as well as avoid mortgage insurance,” Mr Raftery said.

The Money Managers managing director Kevin Bailey said the government grants have created a “massive market distortion” and over-inflated house prices in first home buyer markets.

“It could be attracting home buyers that would otherwise be unable to afford to buy,” he said.

“Not only are first home buyers propping up the housing market with their government subsidy but they are doing it mainly with variable rate mortgages, which is a recipe for disaster,” Mr Bailey said.

Source : http://www.news.com.au/business/story/0,23636,25391569-5013951,00.html?from=public_rss

First Home Owner Grant

winsonlee — Sun, 10 May 2009 01:27:39 +0000

The demand for the established homes would have slow down. On 6 May 2009, Victorian Government has made an announcement to reduce the state grant for estblished homes from $3,000 to $2,000. After the First Home Owner Boost ended many will just sit and wait to see what is gonna happen to the property market.

Established homes

14 October 2008 and 30 June 2009

First home buyers purchasing an established home may be eligible for the $7,000 Boost in addition to the First Home Owner Grant ($7,000) and the First Home Bonus ($3,000*), bringing the total benefits to $17,000.

After 30 June 2009

First Home Buyers may be eligible for the First Home Owner Grant ($7000) and the First Home Bonus ($2000), bringing the total benefits to $9,000

New Homes

14 October 2008 and 30 June 2009

First home buyers building a new home or purchasing a newly constructed home may be eligible for the $14,000 Boost, in addition to the First Home Owner Grant ($7,000), the First Home Bonus ($5,000*), bringing the total benefits to $26,000.

After 30 June 2009

First Home Buyers may be eligible for the First Home Owner Grant ($7,000) and the First Home Bonus ($11,000), bringing the total benefits to $18,000.

*Note : First Home Owner Grant and Boost is offered by the Federal Government. First Home Bonus is given by the VIctorian Government.

Aussie dollar hit US77c

winsonlee — Sat, 09 May 2009 16:57:44 +0000

On 9 March, AUD vs USD is at 0.6331. Last friday which is 8 May AUD vs USD went up to 0.7697. In two months, AUD currency has appreciated 21.57% against USD currency. “Stress-test” has been conducted on the banks in US. Apparently result shows the financial system is better then the public expectation. The “Stress-test” was part of the Obama administration’s plan tostrengthen the financial system. Many investor turned from the safe heaven of currency to riskier but higher yielding equity. Now the question everyone will be asking is if this AUD currency rally is sustainable ? From technical data shown, fast and slow stochastic for AUD currency was far overbought. Support level at 0.72 may be quite strong.
Above table shows the stress test for the banks in US.

Happy Mother’s Day

winsonlee — Sat, 09 May 2009 14:28:22 +0000

Happy Mother’s Day to all mom’s in this universe. For those who are away from home, dont forget to call back and for those whose mum are around them, dont forget to spend some time to have lunch or dinner with them.

Interest, Property, Money, Shares, Online, Stocks, Auction at Winson-Talk

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