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Level13

Beauty China turns ugly duckling

March 7, 2009 by Level13
To say that it has been a roller coaster ride for the shareholders of Beauty China (BC) in the past 2 days is a gross understatement. No retail investor could have been prepared for the extreme volatility that we have witnessed on BC’s share price. On the morning of 2nd March, BC called for a […]
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Important criteria met for Bright World takeover

February 23, 2009 by Level13
This posting is to follow up on the latest development of Bright World. BW just announced its financial results for FY2008 last friday. As i have expected all along, they are able to meet the profit requirement of RMB18 million for Q4 2008. Pls refer to the links below for my earlier posting: http://level13-analysis.blogspot.com/2008/10/sweeteners-for-bright-world-takeover.html http://level13-analysis.blogspot.com/2008/09/my-view-on-bright-world-takeover-part-2.html […]
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Value destruction by Contel

February 11, 2009 by Level13
I pity those investors who are vested in Contel since their IPO days (although i dont think the number is high). 1.5 years ago, i had a posting, in which i advised all investors to avoid Contel due to its constant and urgent need for capital. On top of that, free cash flow was non-existent. […]
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Price movement of DBS shares over the past month

February 3, 2009 by Level13
The price of DBS has fluctuated greatly in the past 1 month or so. This increase in volatility has benefited short term traders. Fundamentally, there is no change in the business condition and environment that DBS is operating in. All said, these movements are not unexpected and can be anticipated if one is able to […]
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Hear no evil, read no evil

January 25, 2009 by Level13
“Many stock commentators are saying that stocks are cheap, dividend yield is high, time to buy.” “A value investor should not be obsessed about short term fluctuation. Long term value is more important. Now is the time to ferret out the wheat from the chaff.” “If it is because of a short term bull market […]

in Categories: Featured, Investing

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Short term bull, long term bear

January 6, 2009 by Level13
Last Friday, the STI closed at 1829.71 points. Within 1 week, it went up 5.15% from around 1740 points. The picture on the right shows that the STI has breached the 50 day moving average ever since it went below that line in June 2008. This indicates a short term bullishness in the market right […]
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Desperate, Bold Step by DBS

December 23, 2008 by Level13
DBS announced today that it will be issuing rights to raise net proceeds of approximately SGD4 billion. Pursuant to the Rights Issue, 760,480,229 Rights Shares will be offered at SGD5.42 per Rights Share on the basis of one Rights Share for every two Shares held. At this moment, there are 2 burning questions on the […]
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Updates on Bright World takeover

December 5, 2008 by Level13
Recently, the share price of Bright World(BW) came under further pressure as a result of a letter sent to its directors from the Monetary Authority of Singapore (MAS), referring to a possible breach of section 203 of the Securities and Futures Act. What is section 203 of the Securities and Futures Act? Section 203 (Continuous […]
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Eight years recap

November 23, 2008 by Level13
For those who need a recap on what has happened in the investment world for the past 108 years, The Global Investment Returns Yearbook (GIRY), compiled by London Business School experts is definitely an eye opener. The core of the Yearbook is provided by a long-run study since 1900 in all the main asset categories […]
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Crude oil price is all rubbish!

November 8, 2008 by Level13
By: Level13 Around 4 months ago, crude oil price was at about USD140 per barrel. Fast forward to the last weekend, after a slew of bad news and poor earnings outlook hit the market, crude oil is only trading at about USD62 per barrel. After witnessing a drop of 55% in crude oil price, I […]
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Sweeteners for Bright World takeover

November 1, 2008 by Level13
By: Level13 A few days ago, CHAC and BW jointly announced the terms of the amended agreement in the takeover offer. Things that have been changed: 1) Valuation and purchase price of BW. The revised transaction results in a minimum valuation of Bright World at approximately USD255 million (assuming CHAC acquires all issued Bright World […]
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Saving mini investors

October 15, 2008 by Level13
By: Level13 Currently the Hong Kong government is trying very hard to intervene and arrange for a compensation package to all minibond investors. There has been immense pressure by the Singapore minibond investors on the local authorities to step in and arrange a similar bailout. With all due respect, I personally do not think that […]

in Categories: Investing

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