Today I am having a bad day which I have spent my time on unnecessarily stuff without doing something more important for me.
As I said before, human revolution is not going to be easy as people often can do the right thing but do the right thing consistently is much difficult. It's quite disappointed for spending my day in this way. I should have done something more important.
It's time to change it again.
Monday, 6 August 2012
Sunday, 5 August 2012
Seventh day---diary
8th September is my big day. No, it should be gym boys' big day because of having performance during that day. Ok, I admit that actually I still can't get the feeling when I was in training everytime. I have made my partner injured and suffered from leg injury which could be turned into long term damage to him.
I felt guilty during the moment he fell down while I was not able to catch him. This happened last week but it brought me a great impact, where it is irremovable bad feeling for me. He is just a 14 years old kid. I still remember I quit gym once before when I got injured during practice. Now I got back. I was afraid that he might quit too if he experienced what I did. Well, he didn't.
When a formation is failed, it is not simply because of non-familiar feeling but the weak of basis. Yeah, basis is the most important when it comes to anything. We have our usual practice every Sunday. Usually not more than 20 are quite active in practice matter. Out of 20, almost half of the members do not take thing serious where it should be. Although I do but I never make it hardest. I should have tried my best to make myself more stronger.
There is little chance for me to improve my body condition whereby I have left 2 years to go for it.
I felt guilty during the moment he fell down while I was not able to catch him. This happened last week but it brought me a great impact, where it is irremovable bad feeling for me. He is just a 14 years old kid. I still remember I quit gym once before when I got injured during practice. Now I got back. I was afraid that he might quit too if he experienced what I did. Well, he didn't.
When a formation is failed, it is not simply because of non-familiar feeling but the weak of basis. Yeah, basis is the most important when it comes to anything. We have our usual practice every Sunday. Usually not more than 20 are quite active in practice matter. Out of 20, almost half of the members do not take thing serious where it should be. Although I do but I never make it hardest. I should have tried my best to make myself more stronger.
There is little chance for me to improve my body condition whereby I have left 2 years to go for it.
Saturday, 4 August 2012
sixth day---Malaysians' proud
Who would ever think that Malaysia has actually produced 50% gloves of the world? Do not surprise that Malaysia is able to do so as most of the Malaysians are not proud to be Malaysians (because of politics?)
I have yet to do any analysis about the producers but quite surprised that Malaysia Producers have reached such international level. This is something we should be proud of and also it involves a lot of investment opportunities.
From the long term prospective, those producers could generate huge profits as long as demand is there.
People often cannot see any long term profit because lack of knowledge of history? what has history to do with investment?
History will tell you.
I have yet to do any analysis about the producers but quite surprised that Malaysia Producers have reached such international level. This is something we should be proud of and also it involves a lot of investment opportunities.
From the long term prospective, those producers could generate huge profits as long as demand is there.
People often cannot see any long term profit because lack of knowledge of history? what has history to do with investment?
History will tell you.
Friday, 3 August 2012
Fifth day---What make Public Bank so special?
I do not intend to own this shares and I have not really analysed Public Bank yet. What makes me wonder is that most of the value investors are interested in the bank. A lot of reasons behind, indeed.
Let's not look at those ratios or whatever figures that might make your excited, but try to look at the people and company culture. Yes, people are the ones who make things work not the machines. They recruit a lot of graduates---as long as you are a degree holder, it doesn't matter with whatever course and grades.
This is quite controversial because most of the banks or financial institutions recruit talents based on the grades and related field they study. I have a friend who worked for HSBC bank before, he wants to be banker again after graduate. He never agrees with the recruitment way of Public Bank which he thinks that recruiting based on the grades and study field should be best way to get the talents. He worries that if a bank recruits talents without looking at those two conditions, the bank would face a lot of problems.
Does it mean Bank should only recruit banking or business related degree holders? It is unnecessary. It actually means that Tan Sri Teh already realizes that anybody could be the key people?
I do not know the actual situation but I guess the employee turnover rate of the bank is lower than others.Why?My observation is that it may due to the company culture. People at the bank may really united and willing to contribute to the bank.
Tan Sri Teh realizes that united of employees are the key to drive the company up and it is another way to reduce indirect cost because lack of political issues among the people. Like what AirAsia is doing now---employees should be the company's priority, if you make them happy, then they would also make customers happy. When all this happen, ability of generating profit should not be worried.
I still remember what Lim Wee Chai (Founder of Top Glove) said before : Profit is important but you have to make your people united and happy then only your company can survive. Thus, you are able to compete with other by one absolute advantage---you have the people who have unlimited potential to be explored.
In Malaysia Banking history, Public Bank is the only bank which generate profit by internal growth and make profit continuously for 36 years. It is a world record and no other banks in Malaysia could make it.
Also, the bank never merges with other or be merged, which means it is extremely strong that even competitors do not dare to "eat" it up?
Sometimes, analysing company not only talking about the figures, but also some management style.
Let's not look at those ratios or whatever figures that might make your excited, but try to look at the people and company culture. Yes, people are the ones who make things work not the machines. They recruit a lot of graduates---as long as you are a degree holder, it doesn't matter with whatever course and grades.
This is quite controversial because most of the banks or financial institutions recruit talents based on the grades and related field they study. I have a friend who worked for HSBC bank before, he wants to be banker again after graduate. He never agrees with the recruitment way of Public Bank which he thinks that recruiting based on the grades and study field should be best way to get the talents. He worries that if a bank recruits talents without looking at those two conditions, the bank would face a lot of problems.
Does it mean Bank should only recruit banking or business related degree holders? It is unnecessary. It actually means that Tan Sri Teh already realizes that anybody could be the key people?
I do not know the actual situation but I guess the employee turnover rate of the bank is lower than others.Why?My observation is that it may due to the company culture. People at the bank may really united and willing to contribute to the bank.
Tan Sri Teh realizes that united of employees are the key to drive the company up and it is another way to reduce indirect cost because lack of political issues among the people. Like what AirAsia is doing now---employees should be the company's priority, if you make them happy, then they would also make customers happy. When all this happen, ability of generating profit should not be worried.
I still remember what Lim Wee Chai (Founder of Top Glove) said before : Profit is important but you have to make your people united and happy then only your company can survive. Thus, you are able to compete with other by one absolute advantage---you have the people who have unlimited potential to be explored.
In Malaysia Banking history, Public Bank is the only bank which generate profit by internal growth and make profit continuously for 36 years. It is a world record and no other banks in Malaysia could make it.
Also, the bank never merges with other or be merged, which means it is extremely strong that even competitors do not dare to "eat" it up?
Sometimes, analysing company not only talking about the figures, but also some management style.
Thursday, 2 August 2012
Fourth day---manufacturing companies
Based on the information of wikipedia, half of the Malaysia economy is made up by agriculture and manufacturing sector which have about 49 % of Malaysia economy activities.
What am I trying to prove is that Malaysia is still heavily relying on traditional business model and there is one problem with it---labour force. If you were non Malaysia and had been here before you would realize that majority of labour force in manufacturing and agriculture are double-LOWs (low skilled and low wages) foreign workers.
This is extremely unhealthy. Indeed, manufacturing is concerned about costs of production. If cost is high, their profit would be affected. Another thing is we have less-advance-technology to support the sector and causing them demand a lot of low-cost workers to sustain their operation.
We have a lot of good companies such as Hertalega, Kian Joo, F&N etc.They all have dominant positions in Malaysia or region. This indicates that we are still doing good in the prospective of business.
Whatever how good they are, and how much they can generate in long term, the biggest problem is labour force. If they want to expand capacity of production within the country, then the only way to be efficient enough---employing low-cost foreign workers. It has become an essential. Otherwise, they have to move out to other country, or improve the production-technology (it takes a lot of times and costs), or they improve the employees benefits.
Any method they adopt will have pros and cons. Nothing is perfect but could be done excellently. Somehow we as investors should concern about the whole picture too instead of over-focusing in micro stuff.
What am I trying to prove is that Malaysia is still heavily relying on traditional business model and there is one problem with it---labour force. If you were non Malaysia and had been here before you would realize that majority of labour force in manufacturing and agriculture are double-LOWs (low skilled and low wages) foreign workers.
This is extremely unhealthy. Indeed, manufacturing is concerned about costs of production. If cost is high, their profit would be affected. Another thing is we have less-advance-technology to support the sector and causing them demand a lot of low-cost workers to sustain their operation.
We have a lot of good companies such as Hertalega, Kian Joo, F&N etc.They all have dominant positions in Malaysia or region. This indicates that we are still doing good in the prospective of business.
Whatever how good they are, and how much they can generate in long term, the biggest problem is labour force. If they want to expand capacity of production within the country, then the only way to be efficient enough---employing low-cost foreign workers. It has become an essential. Otherwise, they have to move out to other country, or improve the production-technology (it takes a lot of times and costs), or they improve the employees benefits.
Any method they adopt will have pros and cons. Nothing is perfect but could be done excellently. Somehow we as investors should concern about the whole picture too instead of over-focusing in micro stuff.
Wednesday, 1 August 2012
Third day---complexity of banking sector
When you read the financial statement of a bank, usually you would only understand the terms or some complicated financial products if you are familiar enough with the banking sector.
Having spent a few hours to read it, I could conclude that banking sector is the most complicated industry. Specific terms like Banker Acceptance (link) which would kill your time to study its meaning and working. Although it's difficult, no doubt I have learned something from it.
Bank is really difficult to manage as it acts as an intermediary between buyer and seller. Most of the time, bank is required to be effective and efficient enough. You could imagine how stress the bank managers are. Once the payment is not matched or error occurs, you would responsible for it.
Bank is quite unique in terms of its operation and profitability. Loans should be the most profitable and traditional products the bank has. Once the bank lends out, expected interest would be its long-term income. Also, bank also provides various types of loan business which are in many form like hire purchase, a services which a bank would buy the demanded vehicle for the customer in advance and will be paid based on the interests.
Also, the bank may buy some equipment or assets and lend it out to the manufactures by creating interest based income like rental.
In order to judge a bank, we should look at the long term prospective. Yes, long term game. Banking is a long term game, unlike other sector can boom within a short time. If a bank always acts for short term profit like betting in high-risk securities, you should beware and better not to invest in the bank.
So far, Hong Leong bank is quite complicated in terms of shareholding structure.
Mr Quek is afraid of being eaten by big player?
Having spent a few hours to read it, I could conclude that banking sector is the most complicated industry. Specific terms like Banker Acceptance (link) which would kill your time to study its meaning and working. Although it's difficult, no doubt I have learned something from it.
Bank is really difficult to manage as it acts as an intermediary between buyer and seller. Most of the time, bank is required to be effective and efficient enough. You could imagine how stress the bank managers are. Once the payment is not matched or error occurs, you would responsible for it.
Bank is quite unique in terms of its operation and profitability. Loans should be the most profitable and traditional products the bank has. Once the bank lends out, expected interest would be its long-term income. Also, bank also provides various types of loan business which are in many form like hire purchase, a services which a bank would buy the demanded vehicle for the customer in advance and will be paid based on the interests.
Also, the bank may buy some equipment or assets and lend it out to the manufactures by creating interest based income like rental.
In order to judge a bank, we should look at the long term prospective. Yes, long term game. Banking is a long term game, unlike other sector can boom within a short time. If a bank always acts for short term profit like betting in high-risk securities, you should beware and better not to invest in the bank.
So far, Hong Leong bank is quite complicated in terms of shareholding structure.
Mr Quek is afraid of being eaten by big player?
Tuesday, 31 July 2012
Second day---Hong Leong Bank
It's quite surprised that I am able to wake up at 6am today. Wake up early means I should treasure the time and do whatever I have planned for. So I research about Hong Leong bank.
Hong Leong Bank was established more than 100 years ago during the time Malaysian Chineses rooted in Sarawak.Initially it was called Kwang Lee Mortgage & Remittance Company and it was incorporated with Kwang Lee Bank Limited in 1934. In 1989 it was renamed as MUI (Malayan United Industries Berhad) Bank and subsequently was merged under Hong Leong Credit berhad (now known as Hong Leong Financial Group) to become Hong Leong Bank
Here is some relevant information about the background of Hong Leong Bank---Wiki.
Hong Leong Bank is controlled by Malaysia Tycoon Quek Leng Chan who has vast experiences in business and he is quite knowledgeable person. A super low profile and mystery tycoon, who realizes that POEPLE are the most valuable assets in the company---he treasures them although the group is largely controlled by his family.
The core business for HLB is credit card business and various type loans. It is more focused on retail customers.
So far, this is what I have known. The research is continued.
Hong Leong Bank was established more than 100 years ago during the time Malaysian Chineses rooted in Sarawak.Initially it was called Kwang Lee Mortgage & Remittance Company and it was incorporated with Kwang Lee Bank Limited in 1934. In 1989 it was renamed as MUI (Malayan United Industries Berhad) Bank and subsequently was merged under Hong Leong Credit berhad (now known as Hong Leong Financial Group) to become Hong Leong Bank
Here is some relevant information about the background of Hong Leong Bank---Wiki.
Hong Leong Bank is controlled by Malaysia Tycoon Quek Leng Chan who has vast experiences in business and he is quite knowledgeable person. A super low profile and mystery tycoon, who realizes that POEPLE are the most valuable assets in the company---he treasures them although the group is largely controlled by his family.
The core business for HLB is credit card business and various type loans. It is more focused on retail customers.
So far, this is what I have known. The research is continued.
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