2012年10月31日 星期三

2012年10月結算


恒生指數:21,641 按月  801

投資組合盈利(自2010年2月9日成立): 2.9%

現金比率:56.4%

(連股息、定期到期利息) 



辣招封樓市 二手成交跌4成



29-10-2012  經濟日報

政府推出兩項辣招遏抑樓市後,過去周末假,二手樓市即時急凍,十大藍籌屋苑交投量急跌4成,有一半屋苑「捧蛋」。九龍站一帶豪宅,過去一向是內地客入市熱點,現時則成為「重災區」,有業主因而劈價150萬元賣樓。
市場消息指,內地客及公司名義登記比例較高的九龍站,已經有看淡後市的買家趁市況仍未下滑,先行獲利套現離場,部分更願意提供逾6%的議價空間,跟之前「零議價」的市況截然不同。

君臨2650萬售 減幅5.4%

其中由韓國人持有的君臨天下3座低層C室單位,昨天以2,650萬元售出,比上周一的開價2,800萬元,減價150萬元,減幅約5.4%。該單位 建築面積約1,385平方呎,呎價約1.91萬元,低市價約5%。據悉,該單位原業主於09年以2,104萬元購入上址,持貨至今3年帳面獲利546萬 元,升值近30%。

另外,擎天半島6座低層H室單位業主,更將上周三的開價1,500萬元,調低6.7%至1,400萬元放售;而擎天半島5座高層F室單位業主,亦將8月份的開價1,780萬元,調低5.6%至1,680萬元放售。

港島區豪宅表現更加疲弱,政府針對海外客及公司註冊的買家印花稅(Buyer's Stamp Duty,簡稱BSD)一出,即時令港島豪宅冰封,昨天山頂、南區、中半山、東半山及西半山等傳統豪宅區,均出現零成交的僵局。有代理指,現時業主及買家 均持觀望態度,期望再觀察一段時間才作減價或入市等決定。

10大屋苑 兩天12宗成交

至於傳統藍籌屋苑方面,新SSD登場首個周六、日,二手睇樓及成交量全綫急降,據中原統計,10大屋苑上周六、日僅錄得12宗成交,按周減少達 43%,為4個月來新低,成交量重回6月的低位;同期利嘉閣10大屋苑錄有21宗成交,按周減少46%。而美聯就10大屋苑錄13宗成交,按周減少逾 52%。(10大屋苑中,利嘉閣與中原統計屋苑相同,而美聯選荃灣中心代替前兩者的映灣園。)

無街客 睇樓客急降5成

有地產代理形容過去兩天二手市況是,金融海嘯第二波,大部分二手屋苑租賣兩閒。中原康怡分行首席分區營業經理楊文傑指,「周六、周日,幾乎所有同事無離開過分行,既無街客,預約睇樓客也紛紛甩底,睇樓量急降5成。」

現市況下,只有減價才能推動買家入市。香港置業分行經理鄭嘉龍指出,大角咀港灣豪庭1座中層E室,面積504平方呎,業主於政府出招當天放盤,當時叫價480萬元,昨日即減價25萬元,以455萬元售出,呎價9,028元。

利嘉閣地產總裁廖偉強指出,兩項辣招短期內會對市場帶來心理影響,目前,一、二手市場均會全面進入觀望狀態,並會維持一段時間。

Top 10: Toxic Ingredients

1. Lead- A neurotoxin that can accumulate in the body over time. Found in lipsticks, hair dyes, hair care, etc. Often listed as lead and lead acetate.
2. Mercury- Known to cause damage to the brain and diminish function. Found in mascaras, etc. Often listed as mercury, thimerosol, mercuric oxide, phenyl mercuric acetate, and phenyl mercuric benzoate.
3. Phthalates- These tiny plasticizers can cause infertility, feminization of baby boys and sperm damage. Found in "fragrance," nail polish, nail treatment, etc. Often listed as phthalate, dibutyl phthalate and diethyl phthalate. These tricky toxins can legally be left out of ingredient list, encompassed under "fragrance." So when buying a product that does not specify fragrance as being naturally derived, I suggest contacting the company.
4. Hydroquinone- This skin bleaching ingredient can cause ochronosis, an irreversible skin condition causing black and black raised bumps on the skin. Found in skin lighteners, anti-agers, hair color/bleach, SPF products, concealer, acne treatments, astringent/toners, etc. Often listed as hydroquinone.
5. Petroleum- Byproducts of this non-renewable, industrial resource still make their way into cosmetic products despite the high-incidence of cancer causing contaminants. Found in facial cleansers, moisturizers, facial treatments, styling products, eye make-up, soap, anti-perspirants, concealer, sunscreens, etc. Often listed as petroleum, petrolatum, petroleum distillates, mineral oil, mineral spirits, unspecified waxes and paraffins.
6. Parabens- These estrogen-mimicers have been found in breast tumors, linked to breast cancer and known tocause hormonal activity in the body. Found in deodorants, lotions, eye shadows, shampoos, facial cleansers, body washes, facial moisturizers, etc. Often listed as methylparaben, ethylparaben, propylparaben, butylparaben, isobutylparaben, (I pretty much avoid anything ending in "paraben").
7. Sodium Lauryl Sulfates- These commonly found chemicals have been shown to cause severe changes to the skin, though studies linking them to cancer are still debatable. Found in toothpastes, shampoos, facial cleansers, body wash, acne treatment, exfoliants, moisturizers, hair color/bleach, etc. Often listed as sodium lauryl sulfate, sodium dodecyl sulfate, sulfuric acid, monodecyl ester and monododecyl ester.
8. Formaldehyde - This awful enbalmer is not just awful smelling, it is also known to cause respiratory irritation as well as cancercancer. Found in nail polish, baby soaps, eye lash adhesives, hair products, sunscreens, etc. Often listed as formaldehyde, formalin, formic aldehyde, Merthaldehyde, methanal, methyl aldehyde, oxomethane, oxymethylene.
9. Coal Tar- A known carcinogen that still makes its way in to beauty products used daily. Found in shampoo, skintreatment, anti-redness creams, bath oils, conditioners, bath salts, bath soaks, etc. Often listed as coal, tar and coal tar solution.
10. Food Allergens- Though little research is currently available on the subject, food allergies and sensitivities can cause rashes, irritation and breakouts. My suggestion is to check all labels for any ingredients that may be of concern to you.

近半護理產品含有害物質

 31-10-2012  星島日報

港九藥房總商會的調查發現,巿面上近半個人護理產品含有十一種有害化學成分,長期使用或對身體有害,其中屬於塑化劑的鄰苯二甲酸酯會影響內分泌,可能引致睪丸癌和乳腺癌。有註冊藥劑師呼籲市民購買護理產品時看清楚有關成分,勿盲目相信大牌子。

港九藥房總商會在巿面搜查共三百一十二款產品,根據其包裝標籤資料,發現當中一百五十種產品含有至少一種有害化學成分。調查也作出統計,歸納出十一種最常見的有害化學成分,包括鄰苯二甲酸酯、對羥基苯甲酸酯、硫酸鈉、甲醛等,常見於藥膏、潔膚用品、護膚品和化妝品等。

兒科專科醫生蘇傑榮指皮膚受到上述等化學物質刺激,特別是作防腐劑的對羥基苯甲酸酯,可能會引致接觸性皮膚炎,即俗稱的「主婦手」和「濕疹」等 問題,甚至造成爛面。他指如巿民患上接觸性皮膚炎,只要停用有關含致敏源的產品即可,若情況嚴重可求醫,或使用含類固醇的藥物控制過敏反應。

藥劑師:勿盲目相信大牌子

而鄰苯二甲酸酯屬塑化劑的一種,已被世界衞生組織確定為內分泌干擾素,具有雌性賀爾蒙的作用。蘇傑榮指男童若攝取過多雌激素,有可能會導致陰莖 體積下降,睪丸體積縮小,以及精子數量減少和活力下降和致男性乳房發育症等,甚至不育;而女童若長期使用有關產品,亦可能導致性早熟,甚至增加患上乳腺 癌、子宮內膜異位症和不育等婦女病的風險。

商會在過去兩個月訪問了近五百名市民,發現市民普遍每天吸收一百三十毫升護理產品,但逾八成半人不清楚市面上的護理品有否含上述有害成分,同樣 有近八成半人不清楚這些物質對人體有害。調查亦發現受訪者購買時,近四成人較着重產品品牌,僅一成半人認為安全標籤及產品成分最重要。

商會指停售眾多產品有難度,籲巿民小心選購。註冊及執業藥劑師張德榮也提醒巿民,購買有關產品時要看清楚標籤,確認不含該十一種有害成分才選 購,「勿盲目相信大牌子」。生物及化學專家關志邦指即使產品標榜純天然,亦未必無害,「有些天然物質都可以很毒」,建議勿長期使用單一產品,減低單一有害 物質積聚體內的風險。

2012年10月30日 星期二

Dr Richard Teo - Thoughts of Life, Wealth, Success & Happiness




Below is the transcript of the talk of Dr. Richard Teo, who is a 40-year-old millionaire and cosmetic surgeon with a stage-4 lung cancer but selflessly came to share with the D1 class his life experience on 19-Jan-2012. He has just passed away few days ago on 18 October 2012.

Hi good morning to all of you. My voice is a bit hoarse, so please bear with me. I thought I'll just introduce myself. My

name is Richard, I'm a medical doctor. And I thought I'll just share some thoughts of my life. It's my pleasure to be invited by prof. Hopefully, it can get you thinking about how... as you pursue this.. embarking on your training to become dental surgeons, to think about other things as well.

Since young, I am a typical product of today's society. Relatively successful product that society requires.. From young, I came from a below average family. I was told by the media... and people around me that happiness is about success. And that success is about being wealthy. With this mind-set, I've always be extremely competitive, since I was young.

Not only do I need to go to the top school, I need to have success in all fields. Uniform groups, track, everything. I needed to get trophies, needed to be successful, I needed to have colours award, national colours award, everything. So I was highly competitive since young. I went on to medical school, graduated as a doctor. Some of you may know that within the medical faculty, ophthalmology is one of the most highly sought after specialities. So I went after that as well. I was given a traineeship in ophthalmology, I was also given a research scholarship by NUS to develop lasers to treat the eye.

So in the process, I was given 2 patents, one for the medical devices, and another for the lasers. And you know what, all this academic achievements did not bring me any wealth. So once I completed my bond with MOH, I decided that this is taking too long, the training in eye surgery is just taking too long. And there's lots of money to be made in the private sector. If you're aware, in the last few years, there is this rise in aesthetic medicine. Tons of money to be made there. So I decided, well, enough of staying in institution, it's time to leave. So I quit my training halfway and I went on to set up my aesthetic clinic... in town, together with a day surgery centre.

You know the irony is that people do not make heroes out average GP (general practitioner), family physicians. They don't. They make heroes out of people who are rich and famous. People who are not happy to pay $20 to see a GP, the same person have no qualms paying ten thousand dollars for a liposuction, 15 thousand dollars for a breast augmentation, and so on and so forth. So it's a no brainer isn't? Why do you want to be a gp? Become an aesthetic physician. So instead of healing the sick and ill, I decided that I'll become a glorified beautician. So, business was good, very good. It started off with waiting of one week, then became 3weeks, then one month, then 2 months, then 3 months. I was overwhelmed; there were just too many patients. Vanities are fantastic business. I employed one doctor, the second doctor, the 3rd doctor, the 4th doctor. And within the 1st year, we're already raking in millions. Just the 1st year. But never is enough because I was so obsessed with it. I started to expand into Indonesia to get all the rich Indonesian tai-tais who wouldn't blink an eye to have a procedure done. So life was really good.

So what do I do with the spare cash. How do I spend my weekends? Typically, I'll have car club gatherings. I take out my track car, with spare cash I got myself a track car. We have car club gatherings. We'll go up to Sepang in Malaysia. We'll go for car racing. And it was my life. With other spare cash, what do i do? I get myself a Ferrari. At that time, the 458 wasn't out, it's just a spider convertible, 430. This is a friend of mine, a schoolmate who is a forex trader, a banker. So he got a red one, he was wanting all along a red one, I was getting the silver one.

So what do I do after getting a car? It's time to buy a house, to build our own bungalows. So we go around looking for a land to build our own bungalows, we went around hunting. So how do i live my life? Well, we all think we have to mix around with the rich and famous. This is one of the Miss Universe. So we hang around with the beautiful, rich and famous. This by the way is an internet founder. So this is how we spend our lives, with dining and all the restaurants and Michelin Chefs you know.

So I reach a point in life that I got everything for my life. I was at the pinnacle of my career and all. That's me one year ago in the gym and I thought I was like, having everything under control and reaching the pinnacle.

Well, I was wrong. I didn't have everything under control. About last year March, I started to develop backache in the middle of nowhere. I thought maybe it was all the heavy squats I was doing. So I went to SGH, saw my classmate to do an MRI, to make sure it's not a slipped disc or anything. And that evening, he called me up and said that we found bone marrow replacement in your spine. I said, sorry what does that mean? I mean I know what it means, but I couldn't accept that. I was like “Are you serious?” I was still running around going to the gym you know. But we had more scans the next day, PET scans - positrons emission scans, they found that actually I have stage 4 terminal lung cancer. I was like "Whoa where did that come from?” It has already spread to the brain, the spine, the liver and the adrenals. And you know one moment I was there, totally thinking that I have everything under control, thinking that I've reached the pinnacle of my life. But the next moment, I have just lost it.

This is a CT scan of the lungs itself. If you look at it, every single dot there is a tumour. We call this miliaries tumour. And in fact, I have tens of thousands of them in the lungs. So, I was told that even with chemotherapy, that I'll have about 3-4months at most. Did my life come crushing on, of course it did, who wouldn't? I went into depression, of course, severe depression and I thought I had everything.

See the irony is that all these things that I have, the success, the trophies, my cars, my house and all. I thought that brought me happiness. But i was feeling really down, having severe depression. Having all these thoughts of my possessions, they brought me no joy. The thought of... You know, I can hug my Ferrari to sleep, no... No, it is not going to happen. It brought not a single comfort during my last ten months. And I thought they were, but they were not true happiness. But it wasn't. What really brought me joy in the last ten months was interaction with people, my loved ones, friends, people who genuinely care about me, they laugh and cry with me, and they are able to identify the pain and suffering I was going through. That brought joy to me, happiness. None of the things I have, all the possessions, and I thought those were supposed to bring me happiness. But it didn't, because if it did, I would have felt happy think about it, when I was feeling most down..

You know the classical Chinese New Year that is coming up. In the past, what do I do? Well, I will usually drive my flashy car to do my rounds, visit my relatives, to show it off to my friends. And I thought that was joy, you know. I thought that was really joy. But do you really think that my relatives and friends, whom some of them have difficulty trying to make ends meet, that will truly share the joy with me? Seeing me driving my flashy car and showing off to them? No, no way. They won’t be sharing joy with me. They were having problems trying to make ends meet, taking public transport. In fact i think, what I have done is more like you know, making them envious, jealous of all I have. In fact, sometimes even hatred.

Those are what we call objects of envy. I have them, I show them off to them and I feel it can fill my own pride and ego. That didn't bring any joy to these people, to my friends and relatives, and I thought they were real joy.

Well, let me just share another story with you. You know when I was about your age, I stayed in king Edward VII hall. I had this friend whom I thought was strange. Her name is Jennifer, we're still good friends. And as I walk along the path, she would, if she sees a snail, she would actually pick up the snail and put it along the grass patch. I was like why do you need to do that? Why dirty your hands? It’s just a snail. The truth is she could feel for the snail. The thought of being crushed to death is real to her, but to me it's just a snail. If you can't get out of the pathway of humans then you deserve to be crushed, it’s part of evolution isn't it? What an irony isn't it?

There I was being trained as a doctor, to be compassionate, to be able to empathise; but I couldn't. As a house officer, I graduated from medical school, posted to the oncology department at NUH. And, every day, every other day I witness death in the cancer department. When I see how they suffered, I see all the pain they went through. I see all the morphine they have to press every few minutes just to relieve their pain. I see them struggling with their oxygen breathing their last breath and all. But it was just a job. When I went to clinic every day, to the wards every day, take blood, give the medication but was the patient real to me? They weren't real to me. It was just a job, I do it, I get out of the ward, I can't wait to get home, I do my own stuff.

Was the pain, was the suffering the patients went through real? No. Of course I know all the medical terms to describe how they feel, all the suffering they went through. But in truth, I did not know how they feel, not until I became a patient. It is until now; I truly understand how they feel. And, if you ask me, would I have been a very different doctor if I were to re-live my life now, I can tell you yes I will. Because I truly understand how the patients feel now. And sometimes, you have to learn it the hard way.

Even as you start just your first year, and you embark this journey to become dental surgeons, let me just challenge you on two fronts.

Inevitably, all of you here will start to go into private practice. You will start to accumulate wealth. I can guarantee you. Just doing an implant can bring you thousands of dollars, it's fantastic money. And actually there is nothing wrong with being successful, with being rich or wealthy, absolutely nothing wrong. The only trouble is that a lot of us like myself couldn't handle it.

Why do I say that? Because when I start to accumulate, the more I have, the more I want. The more I wanted, the more obsessed I became. Like what I showed you earlier on, all I can was basically to get more possessions, to reach the pinnacle of what society did to us, of what society wants us to be. I became so obsessed that nothing else really mattered to me. Patients were just a source of income, and I tried to squeeze every single cent out of these patients.

A lot of times we forget, whom we are supposed to be serving. We become so lost that we serve nobody else but just ourselves. That was what happened to me. Whether it is in the medical, the dental fraternity, I can tell you, right now in the private practice, sometimes we just advise patients on treatment that is not indicated. Grey areas. And even though it is not necessary, we kind of advocate it. Even at this point, I know who are my friends and who genuinely cared for me and who are the ones who try to make money out of me by selling me "hope". We kind of lose our moral compass along the way. Because we just want to make money.

Worse, I can tell you, over the last few years, we bad mouth our fellow colleagues, our fellow competitors in the industry. We have no qualms about it. So if we can put them down to give ourselves an advantage, we do it. And that's what happening right now, medical, dental everywhere. My challenge to you is not to lose that moral compass. I learnt it the hard way, I hope you don't ever have to do it.

Secondly, a lot of us will start to get numb to our patients as we start to practise. Whether is it government hospitals, private practice, I can tell you when I was in the hospital, with stacks of patient folders, I can't wait to get rid of those folders as soon as possible; I can't wait to get patients out of my consultation room as soon as possible because there is just so many, and that's a reality. Because it becomes a job, a very routine job. And this is just part of it. Do I truly know how the patient feels back then? No, I don't. The fears and anxiety and all, do I truly understand what they are going through? I don't, not until when this happens to me and I think that is one of the biggest flaws in our system.

We’re being trained to be healthcare providers, professional, and all and yet we don't know how exactly they feel. I'm not asking you to get involved emotionally, I don't think that is professional but do we actually make a real effort to understand their pain and all? Most of us won’t, alright, I can assure you. So don't lose it, my challenge to you is to always be able to put yourself in your patient's shoes.

Because the pain, the anxiety, the fear are very real even though it's not real to you, it's real to them. So don't lose it and you know, right now I'm in the midst of my 5th cycle of my chemotherapy. I can tell you it’s a terrible feeling. Chemotherapy is one of those things that you don't wish even your enemies to go through because it's just suffering, lousy feeling, throwing out, you don't even know if you can retain your meals or not. Terrible feeling! And even with whatever little energy now I have, I try to reach out to other cancer patients because I truly understand what pain and suffering is like. But it's kind of little too late and too little.

You guys have a bright future ahead of you with all the resource and energy, so I’m going to challenge you to go beyond your immediate patients. To understand that there are people out there who are truly in pain, truly in hardship. Don’t get the idea that only poor people suffer. It is not true. A lot of these poor people do not have much in the first place, they are easily contented. for all you know they are happier than you and me but there are out there, people who are suffering mentally, physically, hardship, emotionally, financially and so on and so forth, and they are real. We choose to ignore them or we just don't want to know that they exist.

So do think about it alright, even as you go on to become professionals and dental surgeons and all. That you can reach out to these people who are in need. Whatever you do can make a large difference to them. I'm now at the receiving end so I know how it feels, someone who genuinely care for you, encourage and all. It makes a lot of difference to me. That’s what happens after treatment. I had a treatment recently, but I’ll leave this for another day. A lot of things happened along the way, that's why I am still able to talk to you today.

I'll just end of with this quote here, it's from this book called Tuesdays with Morris, and some of you may have read it. Everyone knows that they are going to die; every one of us knows that. The truth is, none of us believe it because if we did, we will do things differently. When I faced death, when I had to, I stripped myself off all stuff totally and I focused only on what is essential. The irony is that a lot of times, only when we learn how to die then we learn how to live. I know it sounds very morbid for this morning but it's the truth, this is what I’m going through.

Don’t let society tell you how to live. Don’t let the media tell you what you're supposed to do. Those things happened to me. And I led this life thinking that these are going to bring me happiness. I hope that you will think about it and decide for yourself how you want to live your own life. Not according to what other people tell you to do, and you have to decide whether you want to serve yourself, whether you are going to make a difference in somebody else's life. Because true happiness doesn't come from serving yourself. I thought it was but it didn't turn out that way.

Also most importantly, I think true joy comes from knowing God. Not knowing about God – I mean, you can read the bible and know about God – but knowing God personally; getting a relationship with God. I think that’s the most important. That’s what I’ve learnt.

So if I were to sum it up, I’d say that the earlier we sort out the priorities in our lives, the better it is. Don’t be like me – I had no other way. I had to learn it through the hard way. I had to come back to God to thank Him for this opportunity because I’ve had 3 major accidents in my past – car accidents. You know, these sports car accidents – I was always speeding , but somehow I always came out alive, even with the car almost being overturned. And I wouldn’t have had a chance. Who knows, I don’t know where else I’d be going to! Even though I was baptised it was just a show, but the fact that this has happened, it gave me a chance to come back to God.

Few things I’d learnt though:
1. Trust in the Lord your God with all your heart – this is so important.
2. Is to love and serve others, not just ourselves.

There is nothing wrong with being rich or wealthy. I think it’s absolutely alright, cos God has blessed. So many people are blessed with good wealth, but the trouble is I think a lot of us can’t handle it. The more we have, the more we want. I’ve gone through it, the deeper the hole we dig, the more we get sucked into it, so much so that we worship wealth and lose focus. Instead of worshipping God, we worship wealth. It’s just a human instinct. It’s just so difficult to get out of it.

We are all professionals, and when we go into private practise, we start to build up our wealth – inevitably. So my thought are, when you start to build up wealth and when the opportunity comes, do remember that all these things don’t belong to us. We don’t really own it nor have rights to this wealth. It’s actually God’s gift to us. Remember that it’s more important to further His Kingdom rather than to further ourselves.

Anyway I think that I’ve gone through it, and I know that wealth without God is empty. It is more important that you fill up the wealth, as you build it up subsequently, as professionals and all, you need to fill it up with the wealth of God.
 

2012年10月29日 星期一

建行淨息差擴闊 季賺519億符預期

圖片來源: 經濟日報
29-10-2012  星島日報

建設銀行(939)昨日公布第三季業績,在淨息差擴闊推動下,第三季純利519.3億元(人民幣,下同),按年升12%,但按季下降5.2%,符市場預期;惟非利息收入表現欠理想,按季大跌17%。 

繼中行(3988)及農行(1288)後,建設銀行亦派發今年第3張成績表,首三季度純利1581.9億元,按年升13.8%;每股收益為 0.63元。期內淨利息收入大升17%至2610.2億元,但手續費及佣金淨收入僅微升1.6%至699.2億元,較去年40%的按年增幅放緩。
  
該行解釋,手續費及佣金淨收入增長放緩,主要由於內地經濟增長趨緩、銀行業中間業務收入增長普遍下滑,加上受金融市場因素影響的相關產品銷售增長下降,以及受監管政策影響的部分產品收入下降所致。
  
若單看第三季,由於手續費及佣金淨收入按季下跌17%至206.8億元,故此雖然利息淨收入增加4.3%至913.3億元,仍難扭轉劣勢,令建行純利按季下跌5.2%至519.1億元;每股收益為0.21元。
  
敦沛證券副總裁黃志陽表示,由於經濟不穩定,對銀行的理財產品、交易收費業務等銷售造成負面影響,拖累非利息收入的表現,這並非單單建行的情況,而是銀行業界都遇到的問題。
  
由於人行不對稱減息,市場均關注內銀的息差會受壓,但建行息差與早前公布業績的中行一樣,出乎意外回升,建行第三季淨息差為2.57%;淨利息收益率為2.71%,分別較6月底增加4點子及3點子。
  
黃志陽指出,雖然不對稱減息會對內銀淨息差造成壓力,但相信建行與中行一樣會調整貸款組合,以及提高議價能力,故此息差反而有所改善。
  
另一備受關注的焦點是內銀的信貸資產質量。建行9月底的不良貸款量為729.5億元,較6月底增加3.6%;不良貸款率仍維持為1.0%,並無惡化的象。截至9月底,該行的客戶存款總額約為11.06萬億元;客戶貸款及墊款總額約7.3萬億元,分別較6月底增加1.1%及5.7%;較去年同期則升7.9%及11.9%。資本比率亦有所改善,資本充足率為13.87%;核心資本充足率11.35%,分別較6月底升5點子及16點子。
  
另外,建行執董兼副行長佐夫因工作變動已辭職。

2012年10月27日 星期六

辣招遏樓市 打擊非本地客



27-10-2012  經濟日報

政府首度承認額外印花稅(SSD)失效,昨推出買家印花稅(Buyer's Stamp Duty,簡稱BSD)及加強版SSD遏抑樓市,向公司及海外買家徵收15%額外印花稅、調高SSD稅率5%及延長至3年,措施今日起生效,打亂短期開售的新盤部署。
首承認 SSD已失阻嚇力
財政司司長曾俊華昨聯同多名局長及經濟顧問召開記招,首度開腔承認兩年前實施的SSD已經失去阻嚇作用,並提前在今年底前檢討SSD,期望進而照顧香港永久居民置業的需求,政府更破天荒首次向外地人士及註冊公司(包括本地及外地註冊的公司),開徵買家印花稅,稅率高達15%,且同時受加重稅率的SSD約束,受兩重稅網捆綁。
經調整後的SSD適用期將會由兩年延至3年,而各級稅階將會劃一調升5%,即購入住宅物業後頭半年內轉售,稅率為20%;半年至1年是15%;而超過1年而不超過3年同樣為10%。
對於延長SSD期限,曾俊華解釋,由於聯儲局表明超低利率將維持至2015年中,令市場預期樓價在低利息環境之下至少在未來3年仍會向上,擔心這種心理令樓市亢奮情緒進一步高漲,亦會令短綫投資活動進一步伸延至3年。
由於市場質疑實施近兩年的SSD,不但不能夠遏抑樓價,反而導致盤源短缺,令二手樓市「火上加油」。有政府官員反駁指,這種說法並不正確,強調SSD達到打擊炒賣的目標。
由於無論BSD還是SSD針對的都是住宅物業,而工商物業將不受限,市場預期將有更多資金流入工商舖市場。
有官員認為政策有優先次序,而現時最多及最主要的關注始終是樓市,故此維持針對住宅的方針。
地產建設商會︰落藥過重
除了該兩招外,亦有政府人士透露,當局曾全面考慮其他各種可行措施,但認為現時以BSD及加強版SSD最具針對性,並強調該兩招屬於適度措施,希望能夠令樓市恢復穩健平穩發展。
香港地產建設商會執委會主席梁志堅指出,政府今次落藥過重,擔心長遠會影響本港的自由市場經濟形象,直言︰「若果發展商將來的樓盤銷情欠佳時,政府會推出甚麼補救措施」,質疑政府不想發展商投資本港的房地產市場。
曾俊華回應指,明白新措施可能會對外地人士造成不便,但希望市民可以諒解,今次推出的措施是非常時期的非常措施,在樓市供求回復平衡之後,政府會考慮撤銷這項措施。

2012年10月24日 星期三

金管局再注資逾30億港元

24-10-2012  星島日報

港匯持續強勢,金管局繼昨日兩度入市後,凌晨再注資超過30億港元。

金管局於凌晨在紐約交易時段再入市,穩定港元匯價,買入多3.95億美元,相當於沽出30.6億港元,是24小時內第三度入市。

銀行體系總結餘,預期星期四會增加至1630億港元。不過,金管局再入市後,港元匯價依然強勢,今早繼續貼近7.75港元,兌一美元的強方兌換保證。

金管局表示,會繼續密切留意市況,保持港元穩定。

2012年10月21日 星期日

瓏門超級洗腦團

現今人嘅知識水平越來越高,單靠呃大家未必會上當。

因此商品銷售,無論賣樓,或小至賣手機(廣告),都充滿洗腦成份,利用人嘅心理弱點 - 意志力脆弱;

大家有無發覺多看電視,無論你有無真正留意廣告講咩,你都會無意識地哼首廣告歌出來,跟住你先諗起個廣告,因為勁嘅廣告喺不停重播重播再重播,已經入咗你潛意識...

諗起都毛骨悚然...

By Dino, http://www.snb.hk/blog/front/blogdetail.aspx?postid=66342&blogid=23252

第一部份:

瓏門即將開售,相信大家對此盤的最初觀感是:屯門樓點值1萬蚊呀!

樓價高與低,值與不值,見仁見智,不過最好親身感受一下。感受之後,我發現自己不知不覺間已陷入了一個超級洗腦團。

話說昨日小弟就在經紀D和經紀E的帶領下,以VIP身份來到位於九龍站環球貿易廣場(ICC)的示範單位參觀。雖說是VIP,但其實只是地產商和地產經紀給予的虛名罷了,而由於還未公開發售,因此必須預約才能入內。

若近日到圓方的話,大家會見到許多類似地產經紀的人,但與之前天賦海灣示範單位被幾十經紀圍攻不同,這次大家似乎都有所收斂,至少保安會要求他們在商場內收起工作證兼禁止拉客。

在樓下等候上86樓展覽館的現場所見,可能是較早的緣故吧,睇樓客不算太多,有內地客,有家庭客,也有年青人。


到展覽館的路很轉折,要經過兩至三個的等候點,上完lift後又再上。但各個路口都是精心佈置的,又有圖則方便經紀作介紹。

在等候和參觀的過程,兩經紀輪流為我洗腦,例如是灌輸鄰近深圳前海概念,深圳CBD(中央商務區)概念,港珠澳大橋概念以及瓏門位於香港機場、深圳機場和中環三角的中心點等。最慘的是,若你反駁或者質疑他們的說話,他們又再輪流以第二種表達方式重複其論點。

參觀過程分幾部分,一是看示範單位,包括四房單位、天池屋和清水房。二是看製作千萬的宣傳片(部分還未正式播放),三是看屯門以及內地的未來規劃模型,四是看瓏門大型屋苑模型。


先說宣傳片,經紀會讓客人舒服地坐在沙發上,好像在iMax睇戲一樣,發展商方面播出一段幾分鐘的短片,將深圳和屯門地區塑造成未來大都會。說真的,這一部分是憧憬,一部分是事實,但其後兩名經紀之後又再一次重複短片中所說的屯門規劃,令我開始有點不耐煩。

而示範單位方面,裝修的確很不錯,而發水的面積(如窗台)比我想像中少,尤其是主人房。


天池屋是瓏門王牌之的王牌,約四千呎,有所謂的天池,是豪客必爭之物,聽說已賣到超過20000/呎。

談 到睇樓客源,我發現很多都是本人,而非大陸客。根據經紀所說,屯門近深圳,但之前由於沒有新盤,不少來回中港的人要在屯門本區換樓很難,瓏門現在就他們提 供一個換樓機會。首批發售的都是約980至1100呎的大單位,因此客源很多都是屯門區內客。最好笑是,當中竟然有一個約八十歲的老婆婆,她雖然手拿木 仗,但健步如飛,穿梭在人群之中,一邊叫人快啲買啦,但一邊又說自己不住五房單位。

以上這樣都是參觀初期的見聞,但參觀完畢發生的事才是戲肉。我在當中經歷了最慘痛的被洗腦事件,明天再續吧!


第二部份:

今日,兩份財經報紙都談到瓏門的銷情。《信報》稱銷情遜預期,因為107伙中只賣了50伙;《經濟日報》則稱已賣60伙,佔可售單位一半,報道較正面。

不同消息來源或者不同的老細,都有不同的報道手法,因此只看一張報紙的樓市,很容易被誤導。這就好像只信經紀和地產商的話,你就很容易被洗腦,以為有平貨執。

上回講到我參加了瓏門超級洗腦團,被經紀D和經紀E輪流洗腦,當時真的開始覺得有投資價值。

看完示範單位後,我就跟隨兩名經紀到最多人聚集的瓏門地產經紀基地。在那裏,有許多ICC的美食和飲品提供給客人,不過當中並沒有可以坐的地方,要坐的話就要到各間經紀行所屬的房間內。當然,入內的話你一定會被人挾死。

「不如入去傾呀,舒服啲!」經紀D開始採取攻勢。

「我想周圍睇下先!」我開始遊走在人群當中。

不過,兩名經紀鍥而不捨,一邊猛跟著我,一邊又談到瓏門如何抵買。

我當時就心知不要跟他們入內,無奈的是他們突然請來一名外援女經紀A。一看經紀A就知是Top Sales,外表光鮮,說起話來頭頭是道,比起兩名經紀經驗要老到得多。

經紀A與我說話時已經拿著價單、指引和申請表等,似是準備十足。在三人的夾擊之下,我無奈地被迫入一間房間,最慘的是房間最corner位無人,於是我就被帶入死胡同等候被宰。

「你都好叻,咁後生就有錢買瓏門。」讚美是經紀最好的開場白。

「我都係想了解下啫,我仲有個Partner未得閒嚟!」我推搪說。

「哦,唔緊要,落住票先啦,唔係就hold唔到貨!」經紀A拿出價單,指著即將發售的單位。


接著,她在價單上指出三個靚單位推介給我:「呢三間都係至筍盤,好平,好抵。」她一口氣介紹了這三個所謂發展商預留的靚單位給我。我根本很難反駁,因為她介紹得實在太出色了。她還推介一個特色大宅給我,說這是筍中之筍,她的計算如下:




在狂轟濫炸之下,我開始頭痛了,很累,但對方的戰鬥力和持久力極為驚人,不斷說:「呢個盤無得輸,我地有錢一定瞓身買!」

我之後就想出脫身之法,說:「不如我出去打個電話給我partner問下先!」

她沒有放生我,反而加緊要我落票,「我地唔敢保證喺七點鐘之後會有筍嘢!」

在我一再堅持下,我才勉強走出房間。我在打電話過程中,經紀E全程跟在身後不遠的地方,經紀D就負責守著要道,生怕我逃走──我的確很想溜走。


之後,我就趁經紀A與其他客交談時對其他兩人說:「我Partner話瓏門開價太貴,叫我諗清楚,冷靜下先。」

我說完就想逃走,但那兩名經紀卻窮追不捨,不斷說:「你仲有咩疑慮呢?唔算貴架啦,落票先,唔啱價就唔好買囉。」

「我想靜下,俾我諗一諗,好唔好?」我開始發火。他們立即收聲,但還是跟著我。


ICC示範單位樓層的設計者應該是個天才,因為由樓上到樓下,我足足等了十分鐘,完全為經紀挽留客人而設。我要經過幾個轉折位,落完lift到行一條走通道,之後又再排隊。他們跟足我全程,我當時只好低頭祈求快快逃出這個洗腦聖地。

到樓下後,我沒有跟他們說話,留下電話就急急離去了。回到家,頭還是很痛。

不得不承認的是,此洗腦團的確很強勁,我有一刻是想落票hold貨,因為覺得屯門樓賣10000/呎其實不是天方夜譚,還有升值潛力。不過,冷靜過後,其實用近200萬首期買一個1000萬的單位,根本不化算,倒不如分散投資,在市區買兩個細單位來收租算了。

有朋友曾說,他買一手樓時根本不知自己買了什麼,內心很不安。經過此役後,我終於明白這個道理了。


Forgiveness is...


熱錢搶入 金管局3年來首遏港匯 憧憬十八大行情 游資料短炒中資股

21-10-2012明報

在美國推QE3後,熱錢不斷湧入香港,資金搶高港紙,已多次觸及聯繫匯率的「警戒線」。在昨晨紐約交易時段,港匯再次觸及7.75的強方兌換保證水平,令金管局終於出手,自2009年以後首次入市干預,買入6.03億美元(即沽出約46.7億港元),以遏止港匯升勢。分析員預料,在憧憬中國經濟觸底回升下,熱錢「東流」仍會持續,金管局未來或需再度干預。
港元匯價於上周五(19日)已曾預警,曾一度叫價7.7498,升穿7.75的強方保證水平,惟未見成交,其後於7.75水平徘徊。金管局表示在買入6.03億美元後,令本港銀行體系總結餘,將於下周三(24日)相應增至1533億港元,並會繼續密切留意市况發展,按照貨幣發行局機制,維持聯匯穩定。
購逾6億美元
金管局發言人「解畫」時稱,近日港元需求有所增加,是與歐洲市場略為回穩,美元偏弱,美息下降,令資金流入區內貨幣和股市有關,其他亞洲貨幣亦面對上升壓力,但重申現時港元市場穩定有序。金管局指出,短期港元銀行同業拆息近零水平,因此銀行體系總結餘增加,對銀行同業拆息應不會有實質影響。
星展:追捧人幣帶動港匯
星展唯高達董事黎永良表示,港匯強勢,因市場相信中國上季經濟增長已經見底,及明年增長可重返8%以上,資金追捧人民幣下,同時推高港匯;他指由於內地「十八大」將於下月初召開,在人事安排底定後,中央或有新一輪刺激經濟措施出台,料人民幣短期仍會強勢,由目前至未來一年或再升2%,港匯難以大回,金管局未來或要再度入市沽出港元,但今次QE3及中國復蘇憧憬所發熱錢流入的規模,相信會較2008至2009年所推出QE1時為小。
羅家聰:人幣匯價或需「回氣」
交通銀行香港首席經濟及策略師羅家聰亦認為,熱錢流入追炒中資股,是近期推升港元匯價的主因,但認為熱錢屬「快來快去」,目前難以預料港匯強勢可維持多久,料於內地「十八大」及美總統選舉結束後會有明確方向,估計現時人民幣匯價升抵6.25水平(上周五收報6.257)後要先「唞一唞」。
港元匯價觸及7.75的強方兌換保證水平上次已是2009年,因美聯儲局於09年3月推出量化寬鬆(QE1)措施,令大量熱錢湧入香港,當時港匯多次觸及7.75元強方保證水平,最高曾見7.7486元,高峰時期金管局曾一周內四度入市,一度令本港銀行體系總結餘增至近3200億元歷史高位。

The Five People You Meet in Heaven


Quotes from the book:



My new Karrimor hiking boots

上個禮拜去行山,諗住唔想買多對鞋,著咗對Nike Air Max波鞋去,
點知個ankle左搖右擺,有幾次爭啲sprain ankle。

因為都計劃今個秋冬多啲行山,結果買咗對行山鞋,
果間舖頭做緊23周年特價七折,原價$894,折咗只係$625

上Amazon睇吓外國賣幾錢,嘩!成£75!即HK$1054,今次真喺執倒寶!
 
抵都爛!!


Karrimor Walking Boots Serenity for Ladies
 
Karrimor was  founded in 1946 when Charles and Mary Parsons, along with Grace Davies started to produce cycle bags in Lancashire. During 1948, Karrimor introduced Weathertite products, way ahead of their time. They went on, over the years, to introduc many innovative products to the market. Then in 1980 Karrimor finally made its entry into the footwear market. They launched the ground-breaking KSB (Karrimor Sports Boot) which was the first Karrimor walking boot to replace heavy-duty leathers with light-weight textiles and suede’s. They firmly had their foot in the door!  Karrimor do not stand still, they continue working to bring more innovative new products to the market.
 
Product Description
 
Serenity Mid length Walking Boots specifically for women by Karrimor are waterproof, stain resistant suede with mesh. They are a good looking, comfortable boot that give protection for many outdoor activities.
 
Product Features
 
*  eVent durably
*  Waterproof,
*  Ultra breathable membrane lining
*  Durably waterproof
*  Frameflex mid-sole support and Phylon mid-sole
*  Vibram outsole for durable grip
*  Ladies specific last/fit
* Everyday comfort in addition to toughness
 

2012年10月19日 星期五

Wine appreciation 試酒篇 (keep updating)

小妹唔喺專業酒評家,但同夫婿喜歡Table wine,試不同的紅白酒,試得多,想記下一啲資料以便下次再買。我哋諗,有機會要上番個Wine Appreciation Course先得!





Pauillac 1999


Shiraz Penfolds 2010


Erdener Treppchen, Riesling


Margaux 2007









Barossa, Shiraz
試酒日:18-08-2012
酒莊:Barossa Valley
葡萄:Shiraz
產地:Australia
年份:2010
價錢:$198, M&S
味道:M&S wine specialist介紹嘅,同$128果支無咩分別,同埋過甜...下次都喺自己揀...

美國最年輕房東:15歲女孩打工一年買兩套房

15-10-2012  新浪房產

薇洛是一位15歲的美國女孩,她小小年紀卻深諳生意經。她通過一邊學習,一邊通過收集出售廢舊傢俱賺錢,不到一年就買了兩套房子。如今她把房子出租,成了美國最年輕的房東。薇洛說,她的目標是每年買兩套房

一名來自美國的15歲女孩,小小年紀卻深諳生意經,她一邊學習,一邊通過收集出售廢舊傢俱賺錢,不到一年就買了兩套房子。如今女孩把房子租出去,成了美國最年輕的房東。另外,一對英國情侶不想走入愛情的墳墓,訂婚32年卻一直沒有領證結婚。兩人像普通夫婦一樣一起生活,還先後生育一兒一女。如今,他們都已經是五十多歲的人了,可是卻依舊像小情侶一樣甜蜜。

據英國《每日郵報》1013日報導,今年三月,美國佛羅里達州夏洛特港一名15歲少女買下當地一套房子,被美國媒體稱為美國最年輕的房東。近日,這個女孩再次出手,購得第二套房產,成為名符其實的女房東。

15歲的薇洛。圖法娜看上去和其他同齡女孩沒什麼差別,不過正值青春期的她心思卻沒放在和帥哥談戀愛上,而是喜歡鑽研掙錢之道。近日薇洛大手筆買房,購得佛羅里達州夏洛特港一套公寓,略作裝修後對外出租。這套房子是薇洛名下的第二套房產,她也成為美國為數不多的,在15歲時就能用自己掙的錢買房的少年。

薇洛的媽媽夏儂。摩爾是一名房產經紀人,平時帶客戶看房時夏儂也會叫上薇洛同去。時間一長,薇洛找到了一條生財之道,她發現很多對外出租或出售的房子裡都有被遺棄的舊傢俱,她就把這些被人扔掉的傢俱收集起來,再廉價賣給回收站或者想買傢俱的人。日積月累,薇洛攢了一大筆錢。

今年三月,當地銀行低價拍賣2007年經濟危機時房主抵押的一套房子,房子的起拍價僅1萬美元,但在2005年以前,這套房子卻能賣到10萬美元。薇洛一下就瞅准了這個好機會,她和幾個大人同場競拍,最後以12000美元的超低價購得了這處帶三個臥室的房子。略作裝修後薇洛把房子租了出去,每月房租700美元,租房子的年輕夫妻年紀是她的兩倍。

買第一套房子時薇洛向媽媽借了6000美元,她承諾到18歲前還完。這半年來薇洛通過賣舊傢俱、收房租,以及兼職給別人家打掃衛生又攢下一筆錢。9月底她用這筆錢在第一套房子附近又買下一處兩居室的房子,目前這套房子也租了出去,月租金為500美元。

薇洛接受美國哥倫比亞廣播公司採訪時說,她的目標是用自己掙的錢每年買兩套房。我喜歡投資,我覺得投資很酷!以前媽媽總是幫別人尋覓值得投資的房產,現在她是我的房產經紀人。薇洛說。

儘管薇洛很有賺錢的頭腦,但她的數學成績並不好,薇洛上學時數學成績常不及格,後來她就留在家裡,在父母的指導下自學功課。


樓市的周期

19-10-2012   AM730 (經濟人看世界 - 林本利) 

恒指的周期大約6至8年,平均是7年(扣除1997年的最高位)。97年大量資金流入香港慶祝回歸,可能影響到恒指的周期表現。至於樓市,由於缺乏類似恒指超過48年的歷史數據,較難量度樓市的周期,找出每個周期的最高位和最低位。政府差餉物業估價署和中原地產提供的樓價資料,沒有追溯至上世紀六十年代,故此要透過其他資料去找出樓市的周期。

根據馮邦彥所著的《香港地產業百年》,上世紀六十年代初,港英政府修訂建築物條例,削減地皮的建築面積,促使地產發展商在1966年新條例推行前,一窩蜂將舊樓拆卸重建,以求賺取更多利潤。一些中小型銀行對地產業前景過分樂觀,積極向地產商貸款。

在一片清拆舊樓重建的投資氣氛,樓價持續上升。新建單位由1961年的7,000多伙,急速上升至1964年超過20,000伙。1964年中,就在舊樓拆卸高峰期出現拆樓安全問題,令政府收緊條例,減慢地產商的拆樓和資金回收速度。個別倚靠銀行信貸的地產商無力還款,導致銀行資金不足,出現擠提情況。恒生銀行便在1965年初的銀行風潮中被滙豐所收購。故此樓市在這個周期最高位,應該大約在1964年至1965年初出現。

之後香港面對六七暴動和石油危機,直至1976年經濟才復甦。根據謝賢程所著的《香港房地產市場》,平均樓價由1976年的每方呎298元,一直上升至1981年的每方呎1,057元。之後才見頂回落,到1984年跌至每方呎598元,即下跌了44%。

自從中英政府簽署聯合聲明後,樓價持續攀升,到1997年達到另一個歷史高位。之後大幅回落,到2003年下跌近七成。故此,由1964/65年至1981年,樓市兩個周期的最高位相隔約16年,由1981年至1997年,兩個周期的最高位剛好又相隔約16年。最近中原指數突破1997年的歷史高位,不知樓市的最高位會否又是相隔約16年(即2013年前後)出現,之後便大幅回落。

2012年10月18日 星期四

我的貧窮

世情 118期  趙煥明 香港世界宣明會總幹事

貧窮是一種生活狀態,也是一種心靈狀態。

在香港長大,有機會讀書,有機會工作,從未捱過餓,(除了參加每年的「饑饉三十」),從未捱過窮,生活算是豐富無憂。但安靜下來,卻感到見到自己心靈貧窮的一面。

1.不知足的貧窮:擁有的已經足夠,甚至有餘,卻仍然被不同慾望或廣告挑動,多些、更大些、快些、好些的東西總是沒完沒了。不同的形狀、不同的顏色、不同的潮流。我們比較、我們嫉妒、我們爭競,我們變得微小,我們變得貧窮。

2.不珍惜的貧窮:消費浪費的城市生活已經習慣了,上癮了。親情友情常被忽略,直至失去才後悔。常常忽略已擁有多多的幸福,卻容易埋怨小小的問題。

3.不能慢的貧窮:生活速度像在高速公路走着120公里,有時連目的地也未弄清便拼命走,稍有阻塞或堵車便煩躁不安,不能自處。常像走肉行屍,看不到生活的風景。

4.不能靜的貧窮:電視、電話、電腦、網絡世界,24小時全天候,我們再沒有安靜的角落。或者,我們已不能容忍無聲的角落,我們已聽不見自己靈魂深處的微聲。

有時感到無奈、害怕,像征服了生活的貧窮,卻又被心靈的貧窮征服了。

匆忙中,噪吵中,忘記了父母多年的叮嚀:「食得、睡得、拉得已經很難得!」又忘記了聖經的吩咐:「有衣有食,就當知足。」

是貧是富,是悲哀是幸福,多是心靈的態度,心中的一念。

祈求:知足的心,珍惜的心,慢點、靜點的心。

宣明會網頁www.worldvision.org.hk

You can't change people...


第N次發盈警嘅中國人壽!

首9個月料少賺55% 國壽盈警上季恐見紅

中國人壽(2628)於收市後再發盈警,預料首三季純利大幅倒退達55%之多,即第三季或現虧損。該股指,受收益率下降和資產減值損失增加拖累。

以去年首三季純利167億元(人民幣,下同)(約206億港元)計,即今年首三季純利恐只有約75億元(約92.9億港元),但該集團中期純利96.35億元,只倒退25.7%,反映第三季業績表現惡化,甚至虧損達21.3億元之巨。 

投資收益率下降拖累

該集團解釋,首三季度業績下降,主因受資本市場持續於低位,導致投資收益率下降和資產減值損失增加所影響。

另外,國壽指,9月保費收入338億元,增長24%,惟首三季保費收入仍回落0.4%,至2,631億元。

至於新華人壽(1336)指,9月保費收入為90.2億元,按月增46.8%。該股昨收報26.3港元,升1.5%。

國壽昨收報23港元,逆市下跌1.7%,為表現最差藍籌,成交額逾13.6億港元。