Monday, June 29, 2015

Manulife US Reit IPO

Will this IPO of MANULIFE US Real Estate Investment Trust be exciting enough? Well, one has to read the prospectus to find more about this REIT.

MANULIFE US Real Estate Investment Trust (Manulife US Reit), a unit of Canadian insurer Manulife Financial Corporation, has secured six cornerstone investors ahead of its S$629 million initial public offering (IPO) in Singapore, the Wall Street Journal has reported.

The US Reit, which is set to launch its IPO in Singapore in the second half of 2015, has already lodged its preliminary IPO prospectus with the Monetary Authority of Singapore.

The prospectus shows that the company plans to sell 694.4 million units at a fixed price of S$0.82 apiece in its offering, and raise S$629 million in gross proceeds. It also plans to offer an estimated 6.3 per cent dividend yield for 2016 in the offering.

Cornerstone investors for the planned IPO, who are to take up as much as 30 per cent of the total deal size, include sovereign wealth fund Oman Investment Fund, Nikko Asset Management and Malaysia's Fortress Capital Asset Management, the prospectus shows.

The Reit will be backed by three office properties in Washington DC, Los Angeles and Orange County, California. Meanwhile, DBS Group Holdings and JPMorgan Chase & Co are managing the offer.

Singapore is one of Asia's leading houses for Reit and business trust listings. The planned IPO brings a breath of fresh air to the Republic's IPO market, which has raised a mere US$33 million this year, compared to US$619 million a year ago, according to Dealogic.

The listing of Manulife US Reit will also offer local investors an alternative from lower-yielding Singapore bonds.

Manulife currently operates in 12 markets, including China, Cambodia, Japan and Malaysia.

This year, the company clinched a deal worth more than US$1 billion, allowing it to exclusively distribute its insurance products through DBS Group Holdings' branches across Asia.
From Busines Times, "Manulife US Reit secures six cornerstone investors ahead of S$629m Singapore IPO".

Kox Koh the enterprising Carousell user who sells NDP tickets online may not even be a Singaporean??

Google for 'kox koh' and you'd come across to this Wikipedia entry, "Kokh Kox" which states that Kokh Kox (or Koh, as pronounced in Noon) is the creator god of the Noon people. And what is 'Noon people'? Well, the Serer-Noon also called Noon (sometimes spelt Non or None) are an ethnic people who occupy western Senegal. (I'm so dependent of Wikipedia. Heh.)

So is this just coincident or perhaps the online seller "kox koh" is not a Singaporean, but some Senegal scammer who tries to cheat the potential buyer with fictitious tickets?

I am so looking forward to seeing how the police can track this "kox koh". Then again, this may not be a crime itself so there may not be police involvement in cracking the case & unearth the bugger. Searching online for "selling ndp tickets illegally", I came across this Straits Times article, "NDP tickets this year available online - illegally" (21/06/2012) which said that if found to be involved in 'unauthorised distribution', sellers will be barred from participating in the ticket ballot for three years. That kind of penalty is not harsh enough, I guess.

Another article by Asiaone, "Debtor selling 6 balloted NDP tickets at $120 each" (10/07/2013) has the seller quoted to say:

"You say that selling is illegal, but what about the one who's buying? Would there be sellers if there isn't a demand for these tickets? This has been going on for many years now, and every year, there are as many buyers as there are sellers," he said.

"If I put the tickets up for sale but no one buys, I will be stuck with them in the end. I can't force people to buy the tickets. This will just keep happening every year."

That is so true. So why don't we have a punishment system not just for the seller of the NDP tickets but also for the buyer?! And please, to bar (both seller and buyer) from participating in the ticket ballot for three years is not really that deterring, for sure.

Just see the relevant Facebook page on this subject so far 1 commentator openly expressed his interest to buy. See? As long as the buyers do not feel it's wrong to purchase the NDP tickets, there will always be sellers. In short, I strongly suggest to start punishing the buyers as well.

National Day tickets have always been free. You ballot for them, you get them, and you attend either the preview or the mega celebration on August 9. That is, until some opportunists decided to make a quick buck and sell tickets online.

It’s the Golden Jubilee celebrations this year, so demand is going to be high for these tickets. Expect to have the largest fireworks display, a vintage parade, and special aerial displays by the Republic of Singapore Air Force — it’s going to be THE parade to watch, whether you’re an avid parade-watcher or not.

So what does one sneaky money-making bugger do? Raise the prices of the tickets, of course. These year’s National Day parade tickets were put up for sale on Carousell by user “kox koh” at 12pm on Sunday, and they include both preview and actual day tickets. They’re not cheap, too: they go for anywhere between $200 to $400. His account has since been suspended after his actions were reported by other Carousell users. How he got hold of so many tickets is highly questionable.
From MSN, "The Singapore Golden Jubilee Black Market: NDP And Other Tickets Sold On Carousell".

Saturday, June 27, 2015

Singapore's very own "Le Transporteur" lah!

Facepalm. The guy's act can easily earn him the easy drive to stardom! Heh. With a BMW, he was illegally sneaking through the checkpoint and only after 2 hours, the long arm of the law eventually nabbed him.

I'd love to imagine the following speech/thought took place in the photo. With 4 references to the car-related movies. For sure you can tell the corresponding shows. Grin.

Despite being directed to another area for further checks, he continued driving his luxury car past Tuas Checkpoint, sparking a manhunt by the police.

They found the man and his 7-series BMW sedan almost two hours later at Pioneer North Road and arrested him.

The police officers found more 100 boxes and plastic bags packed in the boot and on the passenger seats.

But instead of contraband such as cigarettes or drugs, they contained foodstuff like curry puff and kueh (local pastries).

An Immigration & Checkpoints Authority spokesman said yesterday that a 47-year-old Singaporean had arrived at the Tuas Checkpoint from Malaysia at 12.15pm on Tuesday.

"The driver was accorded immigration clearance and proceeded to Customs Red Channel to declare the food products he had brought in from Malaysia.

Checks were conducted on his vehicle and there were some discrepancies in the quantities declared," the spokesman added.

"He was directed to a designated inspection bay for further checks. However, the driver drove off instead."

Under the law, those who wish to bring in processed food such as traditional kueh from Malaysia need to apply for a permit with the Agri-food & Veterinary Authority of Singapore.


The New Paper understands that the suspect had produced a valid import permit, but the quantity of food found in his car did not tally with that stated in the permit.

He is suspected to have driven off because he misunderstood the instructions for further checks, TNP has learnt. It is believed he was directed to another area for the checks because the inspection bay was full, but he apparently misread the signal and drove off.

Not long after the police tracked down the BMW to Pioneer Road North just after 2pm, a 28-year-old man saw the car surrounded by three police vehicles near Nanyang Technological University.

He told Chinese evening daily Shin Min Daily News that the officers were seen carrying boxes of food from the car.

A police dog was seen sniffing at about 110 boxes of various shapes and sizes and about 20 bags containing food stacked by the side of the road. Curry puff, packets of nasi lemak and kueh lapis were seen among the stash of food.

It was only until three hours later that the boxes of food were loaded back into the car, Shin Min reported.

Investigations are ongoing.

Kueh distributors here told TNP that it is common to bring in the food items from Malaysia to sell because of the price difference.

"In Singapore, most places sell 50 pieces of kueh for $20. In Malaysia, they may sell the same quantity for RM15 (S$5.30) to RM18," said a local distributor who declined to be named.

He was surprised that a BMW was used to transport the food items as he had never heard of people using saloon cars for this purpose. "Usually, people use vans because cars are too small to contain all the goods," he said.
From Asiaone, "Man with 110 boxes arrested for not stopping at Tuas Checkpoint".

Wednesday, June 24, 2015

View from the Avenue of Stars - Hong Kong

Wednesday, June 17, 2015

On the wings of love...(or I hope to start my own collection of Aircraft Wings View Photography)

Tuesday, June 16, 2015

of Mr Woo Wing Onn apologizing to the cyclist and yet still publicly shaming the cyclist when the video uploaded to STOMP?!

I am puzzled. Is this guy Mr Woo Wing Onn for real?? He drove so haphazardly close to the cyclist in front of him. And he came into contact with the cyclist when the latter stopped his bicycle because this driver Mr Woo was just so very close behind. He apologized, and yet the police still came (to be fair, the article below did not really reveal whether Mr Woo himself called the police. I guess the caller could have also been his wife. Unlikely the cyclist, though, because he was busy lifting his bicycle & slamming it onto the car. Reckon the cyclist must have turned green when he did it while roaring "UNGER SMASH!"...)

Yet despite the apology, this Mr Woo still uploaded the video to STOMP to publicly shame the cyclist?? Something is amiss here. Very much contradicting, isn't it? You apologize, but you still upload the video with ill intent to shame the cyclist for a road rage that could have been prevented in the first place if you as the driver was not driving your car so close behind the cyclist.

I am sure the cyclist has learnt his lesson. Instead of damaging his own bicycle by slamming it onto some stupid drivers' cars. He should just mutter a mantra repeatedly like, "Stupid car also another one". Or perhaps to install a video camera on his helmet (I assume he has a helmet like a proper cyclist's one) so that he himself can upload a video to STOMP to publicly shame the driver.

It was a case of road rage on two wheels as a Canadian man, who felt threatened by a car, threw his bicycle onto its bonnet.

For that, academic consultant Jason Blair Unger was fined $2,500 yesterday.

Unger, 40, admitted hurling the Brompton bicycle onto the bonnet of Mr Woo Wing Onn's car, causing dents and scratches to it. He has paid $2,219 towards the damage caused to the 48-year-old's Honda Civic car.

The incident, which was recorded on Mr Woo's in-car camera, took place along Selegie Road at around 9.50pm on Oct 17 last year.

The court heard that Unger, who has been living in Singapore since 2010, was cycling along the left of the five-lane carriageway when he switched to the fourth lane as he was not turning left into MacKenzie Road.

Meanwhile, Mr Woo was trying to switch from the third to the fifth lane when he was blocked by a slow-moving taxi in front.

Mr Woo was heard on the video recording saying "Hurry up lah, stupid taxi" and "Alamak". He then decided to filter back into the fourth lane, which brought him very close behind Unger.

The cyclist sensed some danger and continued pedalling faster along the fourth lane.

Mr Woo also sounded his horn and said: "Stupid bicycle also another one."

His wife in the passenger seat asked him to be careful.

By this time, the car and bicycle were very close.

Deputy Public Prosecutor Sanjna Rai said Unger turned around to look at the driver and gestured with his hand. When he stopped his bicycle, the car came into contact with it.

Unger got down, lifted the bike and slammed it onto the car.

Unger also asked Mr Woo why he was "hitting" when Unger was on a bicycle and was "someone with a kid".

Mr Woo apologised and the police came 10 minutes later.

Unger told investigators he had feared for his safety.

His lawyer, Mr Andy Chiok, said in mitigation that his client, who teaches English at a private school, felt that the car was tailgating him.

The incident happened because he was apprehensive about his safety as a vulnerable cyclist.

Mr Chiok also said his client had been publicly shamed online after Mr Woo uploaded the video on citizen journalism website Stomp.

Unger could have been jailed for up to two years and/or fined for causing damage of $500 or upwards.
From MSN, "Cyclist fined $2,500 for hurling bicycle at car".