Where are all the $$$???

Decided to update my blog while waiting for my friend to meet up for dinner. Am now hiding at my favourite place, Pan Pacific hotel, specifically at one of the outlets, Brunch. This is a quiet place with a good ambience.

Attended a seminar by Prudential earlier in the afternoon. It was about the launch of a 5 year capital guaranteed plan on maturity with projected 3% returns. It is a good plan in terms of the mechanics but the timing seems wrong. If the plan had been launched 4-6 mths earlier, it would be something that would sell like hotcakes. Unfortunately, in this current climate, in a new world where Lehmann no longer exists, Merrill Lynch becoming part of Bank of America, Citigroup begging Uncle Sam for $$, who whould want to lock their cash for 5 years? So what it is capital guaranteed? Even AIG can end up in A&E asking for blood (money) to survive, what is safe now? We don't even need to look far, in the Singapore context, DBS is not far away from trouble with only about 7.5% tier 1 ratio. If they go down to below 6%, which in my opinion is just not that far away, DBS will get themselves into a lot of trouble with MAS. They will then have to raise funds, by issuing more shares (then Temasek Holdings will subscribe it with all our taxpayers money). Maybe that's why Singapore cannot lower the GST?? Hm...

In any case, my own problems are also still on the horizon. I have received the $30k as promised but I am still short of quite a bit. I still need something in the region of $30k-$40k to fully secure this project alpha. The best part is, out the $30k that I have, more than half has been utilised.. If I cannot find funding fast, I will get into trouble end of next month.. Where can I get the shortfall?? Where are all the $$??

Alone

My Dear is now away, in Genting Highlands, Malaysia for an official trip in bringing her school Band for competition. She will only be back on Friday, the day which I'm busy with meetings the whole day. Life seems different without her around, having some pockets of time where I usually have her to grumble.. Ha.. Now she's not around, this is my grumbling outlet!! Hm..

Had a long day yesterday, meeting my friend Joshua n partner Lynn. They look compatible.. This should be a lasting relationship, if they treasure each other. Before that, I rushed out 2 travel policies for my pal Vincent, who is going on his expensive Japan honeymoon. With the Japanese Yen at a high at the moment, it looks like it'll just get more expensive.. I also settled my HLE (HDB Loan Eligibility) by submitting all the relevant documents to HDB. Still have a lot of stuff to handle.. Zzz.. Never ending work..

Tired Day

Started my day early, in my standards, at 7:30am. Send my gal to work then go to my friend's house to help him out with the wedding '下聘'. Loads of things to do, and some, in my opinion are quite silly. Am I too modern? Maybe..

Had a haircut in the afternoon, then rush my stuff since late afternoon till now at a cafe in Suntec City.. I think it's time for food... Yum Yum...

Time to Slack!!

Decided that I don't wanna call clients at this moment of time even though I should be doing this at this point of time. I am supposed to meet each and everyone (as much as I can) so as to pass them the calendar for 2009. I don't know why but just feel more like sitting on it and SLACK!! Ha.. Most prob is due to the mentality that my Project Alpha is now the priority. I don't see my clients being happy to see me. Those who bought investments (whether from me or not) lost money. Most of them had about half, or even about a quarter left. The other group who bought traditional plans like savings and life plans are now losing sleep over the fact that what if Prudential collapse (something that will not happen given MAS conservative attitude over our reserve ratio.

Project Alpha is having some funding problems. Till now, the secured amount is only $30k, and even then, its an oral confirmation. This means that until I get the cash, it's just a promise that may not be fulfilled.

This is one of the biggest risk that I have taken ever since the last time my risk taking backfired spectacularly. The spectacularly backfired risk taking exercise was to do contra trade with no intention of taking delivery of the stock. Then the lost was in the area of $30k.. I never tried anything in that region ever since.

Anyway, this blog is done at toast box of Centrepoint. I'm here waiting for my dear wife to end class then feeling lazy to do anything else.. Ha.. I think her class is ending soon.. Time to get going.. Tata..

Lots of Stuff to Think

It's like what the hell for me for this recent times.. I am not sure whether I should be happy and excited to collect the keys for my Project Alpha venue or apprehensive and worried over it. By right, I should be happy as, after so long, I finally have a venue for my venture and that now dreams can start to become reality. However, I am worried and apprehensive, and rightly so.

With the credit markets in a mess, I cannot rely on banks or finance companies to lend me the capital that I need. Even if they do, they are going to charge me exorbitant rates that will be the key to failure (that is if failure does occur). The world in a mess means retail lenders like the man on the street now keeps his money in an iron cookie tin; no more in the bank, no more with any insurance policies (that kills one of my income portfolio), and you can forget about any loans from SMEs like mine.

My main sources of income this year, financial planning with Prudential and tuitoring are dipping. With the world financial markets in turmoil, I have no idea how to tell clients and anyone for that matter to do any investment. With insurance giant AIG in trouble and the unfortunate thing that Prudential PLC (Prudential UK), the company which I represent shares the same name with Prudential Inc. (Prudential US), the company which is going bankrupt soon, things are not getter better but worse. With all my tuition kids doing GCE 'O' Levels now, I don't see any income from next month on. How to survive on a day to day basis for December is a million dollar question. With half of December spent in Australia and budgeted for, I should say, I will clear the year. Beyond that, let the higher beings decide..

I have secured, verbally, SGD$30k, which is only about half of what I need to do up the renovation and operational costs. I think this feeling is similar to AIG's CEO where new credit lines are super difficult to get. Hai..

Let me sleep on the problem and continue thinking of it later in the day.........

Stuff Not Done @ 4am

What the hell am I still awake at 4:30am in the morning? I am still in the midst of my work.. Zzz.. I am in the midst of setting Pure Chemistry questions for my 2 students later to practice just before they go for their exams.. I am also supposed to, which I think I can't get it done at this point of time, prepare a presentation for a client so that she can put in the S$50k that I need for my Project Alpha.. Zzz.. So many things to do yet so little time.. ARGH!!! Better continue with my question setting.. The sun is rising soon.. Darn.. I have tuition at 10am!!! Tata...

Blog's 2nd Year Anniversary (2nd Post also)

I am never a fan of blogs. I am more a fan of face to face chats than blogging. But well, it seems that things have changed over the two years. Haha.. This blog was set up in October 2006 to vent fustrations. However, the source of fustrations has changed. So, today, 18th October 2008, I decide to revive this blog. I will do my very best to post as many as my schedule can allow me to.

I am not too sure whether I should be proud or worried but I have started embarking on my top secret Project Alpha. More details of this Project Alpha will be posted as time comes. The cost of this Project Alpha, over a period of 3 years, is a whooping S$260k. The best part is, I need S$50k of this S$260k by the end of next month. Given the current financial market, how am I going to get this S$50k?? Stress...

Cambridge GCE 'O' levels are around the corner. Having ALL the students that I teach having exams together is an extremely stressful thing. I teach Pure Chemistry to 2 of them and English and Mathematics to another. I know that my fees are not cheap, but I dare say that I have put in triple or quadruple the effort as compared to many other tutors that I know. I really hope that they will be able to exhibit their full potential..

Is this post getting too long? I think so; let me end off here. I still have questions to set so that I can pass it to the students later to do. I still have quite a bit of things to blog about. Let me post it bit by bit..