If you are still in the dreamland of low interest rate environment, this should be a wake up call. Globally, the monetary policies are tightening and China has experienced its liquidity squeeze. On June 20, the 1-day SHIBOR surged 578.4 bps to a record high of 13.44%. For those who are not familiar with SHIBOR, […]
AIG is back
AIG is back! If you recall, AIG has an 80-year history in Singapore. But during global financial crisis, the company nearly collapsed. To dis-associate with the “bad” name, AIG has been re-branded as Chartis insurance in Jan 2010. Four years after the financial crisis, AIG has completed a remarkable turnaround. As part of a global re-brand unveiled […]
Olam Dismisses Muddy Waters Report Findings
Last week, Muddy Waters launched ruthless attack to Olam International and give Olam a Strong Sell recommendation on Tuesday 27th November. Olam has fought back immediately. On 28 Nov, Olam published 133 pages report, it starts by saying: “Everyone is entitled to their own opinions, but they are not entitled to their own facts” Senator Daniel […]
No Eurobonds 'As Long As I Live'
In my April post “Have You Forgotten European Credit Default Swap“, I have shown you the chart of CDS in euro zone when many were talking about “the worst is behind us”. Now everybody has known how much the market crashed in May. Let’s be “contrarian” again this time. In the past months, there are many talks […]
Have You Forgotten European Credit Default Swap?
It seems investors are not affected at all by the recent market correction and Sumatra earthquake. New IPO of palm oil firm Bumitama soared on debut, rising 32% from IPO price of $0.745 and closed at $0.98 for the first day. If you recall, Just six months’ ago, the market was spooked by Euro debt […]
Take a look at Greek debt problem from a Folli Follie point of view
In Oct last year, I wrote a blog entry “Greece Default Almost Certain“. Now it is 2012 Feb, Greece “still hasn’t defaulted”, instead, the creditors took 50% haircut in Oct and another further 53.5% cut this month. So on the paper, a $100 Greek debt is worth only around $25 now, but it is NOT default? […]