Archive

Martin Lee

Lippo Malls Indonesia Retail Trust Arbitrage Strategy

November 15, 2011 by Martin Lee
The last time round, it happened with Chartered. This time round, it is with Lippo Malls Indonesia Retail trust. In doing a 1-for-1 rights issue to raise almost $300 million, there is such a huge overhang of shares that the price of both Lippo Mall and their Rights have traded down over the past few [...]

in Categories: Shares and Derivatives

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Confusion Over France Downgrade

November 14, 2011 by Martin Lee
Last Thursday, S&P caused a shock in the bond markets when it informed some of the subscribers that it had downgraded the credit rating of France. An hour and a half after the original message was sent out, S&P sent out a clarification that the message resulted from a technical error and not from any action [...]

in Categories: Market Review and Trends

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Delistings: What Investors Should Know

November 11, 2011 by Martin Lee
For those of you who invest into SGX listed shares, this event is worth checking out. Date: 25 November 2011 (Friday) Time: 2:30PM to 5:30PM (Registration starts at 2:00PM) Venue: SGX Auditorium, 2 Shenton Way, SGX Centre 1 Admission:  Free You can register for it here. Seminar Outline Background of recent delisting activity in Singapore [...]

in Categories: Shares and Derivatives

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Street Fighters: The Last 72 Hours of Bear Stearns

November 10, 2011 by Martin Lee
The dramatic collapse of MF Global in less than a week made me pick up a copy of the book, Street Fighters: The Last 72 Hours of Bear Stearns, the Toughest Firm on Wall Street for some leisurely reading over the weekend. The financial markets are so complicated and inter-connected nowadays that it only takes [...]

in Categories: Market Review and Trends

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Twist in Profitable Plots Saga

November 9, 2011 by Martin Lee
And so the Profitable Plots saga drags on. CAD has asked for more time to conclude it’s investigations into Profitable Plots. I have actually lost count of the number of times CAD has asked for more time to work on the case. This time round, CAD has found an independent expert witness in the US, [...]

in Categories: Shares and Derivatives

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Pakistan and Bangladesh ETFs launched by Deutsche Bank db X-trackers

November 4, 2011 by Martin Lee
Deutsche Bank has launched on Singapore Stock Exchange (SGX) the first ever ETFs to be linked to Pakistan and Bangladesh, the MSCI Pakistan Investable Market Index, and the MSCI Bangladesh Investable Market Index. Another two ETFs linked to the MSCI Singapore Investable Market Index and the MSCI Asia Pacific Ex Japan Index were also launched [...]

in Categories: Investing

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DBS High Notes Investors Loses Appeal

November 3, 2011 by Martin Lee
Almost one year after the initial suit filed by DBS High Notes investors was dismissed/a> by the High Court, an appeal filed by investors against the initial decision has failed as well. 213 investors had invested about S$18 million into DBS High Notes and lost everything when Lehman Brothers collapsed. The investors have fought their [...]

in Categories: Investing

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MF Global Files for Bankruptcy Protection

November 1, 2011 by Martin Lee
The big (and expected) news yesterday was that MF Global has declared bankruptcy. A buyout by Interactive Brokers was abandoned at the last minute due to realisation that some money was missing from some customers accounts. Regulators are now investigating whether MF Global diverted some customer funds to support its own trades. The failure of [...]

in Categories: Business

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MF Global Seeks Sale as Bankruptcy Looms

October 31, 2011 by Martin Lee
MF Global, one of the world’s leading broker-dealer of exchange listed futures and options, has emerged as one of the biggest casualties from Europe’s crisis. MF Global is now suffering from its US$6.3 billion exposure to European sovereign debt, and is looking for buyers to save itself. In the past week, the corporate bonds of [...]

in Categories: Business

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MAS Macroeconomic Review October 2011

October 28, 2011 by Martin Lee
The Macroeconomic Review is published twice a year in conjunction with the release of the MAS Monetary Policy Statement (MPS). The purpose of the Review is to provide information on the Economic Policy Group’s background analysis and assessment of GDP growth and inflation developments in the Singapore economy, and in doing so, to share with [...]

in Categories: Market Review and Trends

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Counterparty Risks in Synthetic ETFs

October 19, 2011 by Martin Lee
This is a continuation of my previous post, The Dangers of Synthetic ETFs. If you refer to the Products Highlight Sheet or prospectus of a synthetic ETF, they will spell out clearly what are the risks involved in the product. So investors will not be able to say that such risks were not disclosed to [...]

in Categories: Shares and Derivatives

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DBS Asset Management Ltd renamed Nikko Asset Management Asia Limited

October 18, 2011 by Martin Lee
DBS Asset Management Ltd (“DBSAM/星展资产管理有限公司”) has been renamed to Nikko Asset Management Asia Limited (“Nikko AM Asia/日兴资产管理亚洲有限公司”) with effect from yesterday. The renaming follows Nikko AM’s acquisition of DBSAM from DBS Bank Ltd (“DBS”) on September 30, 2011. As a result, the majority of DBSAM’s funds have been renamed with the prefix “Nikko AM Shenton”. [...]

in Categories: Shares and Derivatives

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MAS Monetary Policy Statement Oct 2011

October 17, 2011 by Martin Lee
MAS released their monetary policy statementlast Friday. Core inflation should gradually ease from an estimated 2.3% in Q4 this year to 1.5% at the end of 2012. It is forecast to be around 1.5-2% in 2012, compared to about 2.1% in 2011. Growth in the Singapore economy could fall below its potential rate of 3-5%. [...]

in Categories: Market Review and Trends

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The Dangers of Synthetic ETFs

October 14, 2011 by Martin Lee
Any serious buyer of Exchange Traded Funds (ETF) should know the difference between ETFs that employ a cash-based replication strategy, compared to one that is swap-based (or synthetic replication). How a swap-based ETF works is that instead of investing into the underlying market, the ETF will hold some other securities and then enter into a [...]

in Categories: Shares and Derivatives

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The Greatest Trade Ever

October 12, 2011 by Martin Lee
The Greatest Trade Ever is a book written by Gregory Zuckerman that tells the (true) story of how John Paulson made financial history on Wall Street by betting against the subprime. Unlike The Big Short which gave equal emphasis to a few major characters, this book is more focused around John Paulson. We learn about [...]

in Categories: Active Trading, Investing

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Selecting the Right HDB at the Right Price

October 5, 2011 by Martin Lee
The two videos below are just for laughs but they do convey some messages to bear in mind. Choosing a HDB Flat That Suits You Paying the Right Price

in Categories: Investing, Property

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SCB 5% Rebate Online Shopping Promotion

October 5, 2011 by Martin Lee
From 1 October to 30 November 2011, use your Standard Chartered credit card and get 5% CashBack on all your online retail purchases, from ordering a pizza to buying a camera, paying for your air tickets, shopping for handbags and more. To enjoy this promotion, just follow these simple steps: 1) Be the first 50,000 [...]

in Categories: Personal Finance

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Extension of CPF SA Minimum Interest Rate

October 4, 2011 by Martin Lee
The CPF Board announced last Friday that the minimum floor rate of 4% in the Special, Medisave and Retirement Account (SMRA) will be extended by another year to the end of 2012. Since 2008, the SMRA rates were supposed to be pegged to the 12-month average yield of the 10-year Singapore Government Securities (10YSGS) plus 1% subject [...]

in Categories: Personal Finance

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