失业率节节上升。在大企业工作的打工皇帝们，会不会担心随时饭碗不保？
我公司在风暴期间，一直无时无刻的提醒全球员工一句话：
“ 有盈利的公司难保不会倒闭，惟有保持 strong positive cash flow 的公司才能生存。”
其实，不只企业如此，个人的理财观，也应该由此建立为基点。如果将以上的那一段反映在个人，或一般打工仔的日常生活，大意应该就是这样：
“ 工作的收入不一定是长远的；惟有保持 strong positive cash flow 才能生活无忧。”
我有一位同事，36 岁，工钱之高，令我乍舌。简直就是打工皇帝。
可是，当风暴来袭时，公司说全球将裁员 6000 人，他担心的程度不亚于我。
他说，我不像你，外面还有自己的生意，投资方面也比我积极。我依靠的就是我在工作上的成绩。
昨晚，我太太的车又抛锚了。上两个月抛锚时，本来想去换车。可是，还是搁置了。
这次抛锚，念头又来了。。。
但是，最终还是放弃了。还是选择把车的心藏换了，一次过的花费几千块，好过背负几年的车贷。
原因是：我喜欢稳健的现金流。
车，对我来说，真的是第二老婆。我很爱它。
可是，我知道，我现在还没有能力为了它而出轨。
Sunday, March 8, 2009
Sunday, March 1, 2009
(132) 不能只看表面的财报
很多时候，单看 P&L, Balance Sheet or Cash Flow, 并不能仔细地了解公司的整体营运情况。要清楚地了解，最重要的是配合财报里的全部 footnote.
对一直有看我的 blog 的朋友，我很抱歉。因为最近我真的开始忙了，没有太多时间详细地分解。
对于 Maybulk Q4 的业绩，看是盈利蹉跌很多，但如果你详细看完报告的 footnote, 其实不然。这也是我为何对它的业绩感到欣慰。
还好有人将其中的重点发表了出来：
“Other operating income for Q4 reported a loss of RM26.9m compared to Q3’s net income of RM93.1m. This is attributable to mark-to market provisions of RM46.7m for the Group’s currency position and its’ quoted equities investments.”
其实，这个季度的低盈利只是个假像，主要是管理层为未来外汇潜在亏损和股票投资做出很大的后备（provision）。约有4千六百万。如扣除这个provision,这个季度的eps就有5 sen.。
The operating profit for FY2008 of RM338.8m reports an 11% decrease against the previous year’s RM379.5m. This was improved by other operating income of “RM219.5m, comprising mainly of gains from sale of vessels (RM327.3m) and interestincome (RM36.4m) and adverse mark-to-market provisions for the Group’s quoted investments (RM93.6m) and foreign currency basket (RM48.6m). Administrative overheads decrease by 9.2%.”
扣除mark to market provision 给外汇和股票，其实MAybulk全年的eps 有将近60sen。但然，这是乐观的看法，而且股票和外汇在未来也可能会增值的。所以我觉得管理层派发30sen股息一点都不过分。
对一直有看我的 blog 的朋友，我很抱歉。因为最近我真的开始忙了，没有太多时间详细地分解。
对于 Maybulk Q4 的业绩，看是盈利蹉跌很多，但如果你详细看完报告的 footnote, 其实不然。这也是我为何对它的业绩感到欣慰。
还好有人将其中的重点发表了出来：
“Other operating income for Q4 reported a loss of RM26.9m compared to Q3’s net income of RM93.1m. This is attributable to mark-to market provisions of RM46.7m for the Group’s currency position and its’ quoted equities investments.”
其实，这个季度的低盈利只是个假像，主要是管理层为未来外汇潜在亏损和股票投资做出很大的后备（provision）。约有4千六百万。如扣除这个provision,这个季度的eps就有5 sen.。
The operating profit for FY2008 of RM338.8m reports an 11% decrease against the previous year’s RM379.5m. This was improved by other operating income of “RM219.5m, comprising mainly of gains from sale of vessels (RM327.3m) and interestincome (RM36.4m) and adverse mark-to-market provisions for the Group’s quoted investments (RM93.6m) and foreign currency basket (RM48.6m). Administrative overheads decrease by 9.2%.”
扣除mark to market provision 给外汇和股票，其实MAybulk全年的eps 有将近60sen。但然，这是乐观的看法，而且股票和外汇在未来也可能会增值的。所以我觉得管理层派发30sen股息一点都不过分。
Thursday, February 26, 2009
(131) 难得的股息
这样的情况，这样的环境，净利下滑已是预料中事。
难得，即使投资亏损，还可以报上盈利。不至于像有些公司已经开始陷入亏损，就欣慰了。
更没想到，还有 30 仙的高股息收。。。哈哈。。。
这笔股息，够我供好几期的房贷了。。。
派息过后，又是累计时候了。。。
难得，即使投资亏损，还可以报上盈利。不至于像有些公司已经开始陷入亏损，就欣慰了。
更没想到，还有 30 仙的高股息收。。。哈哈。。。
这笔股息，够我供好几期的房贷了。。。
派息过后，又是累计时候了。。。
Tuesday, February 24, 2009
(130) 可笑的 “双回酬” 计划
其实我不想曝光，以免不必要的麻烦。这次算例外。。。
这是我在 CARI 的身份。。。单看我发表的文法，应该就可以猜到吧。。。 这是其次，最重要是分享我的看法，让想投资这个计划的朋友三思。
http://cforum2.cari.com.my/viewthread.php?tid=1392027&extra=&page=1
这是我在 CARI 的身份。。。单看我发表的文法，应该就可以猜到吧。。。 这是其次，最重要是分享我的看法，让想投资这个计划的朋友三思。
http://cforum2.cari.com.my/viewthread.php?tid=1392027&extra=&page=1
(129) Credit Card - Helping you or killing you?
最近开始忙了，也懒得汉语拼音。就来秀秀我的半桶水的英格厉势吧。
I came acrossed a lot of articles in different forum. Mostly talking negatively about credit card.
To me, I totally disagreed.
No doubt the flexibility provided by CC has very strong influences to encourage one to spend more, especially a lot of promotion with zero interest installment plan. Obviously, this is a trap for those who are poor in their financial control & planning. If you are one of them, the best way is not to hold any CC. Cash is your solution.
To me, CC is a very good financial tools. Some cards provide Cash Rebate, some can collect points to exchange free gift.
More importantly, the 30 days + 20 days, a total of 50 days free interest financial leveraging!
If you have been suffering from house loan interest, car loan interest, you should already learned from this experience to manage how to leverage the 50 days free interest from CC. If you don, pity you...
Of course, there is no way to enjoy full 50 days free interest. Because it's not possible that you can plan your monthly budget and spend all in 1st day of each monthly billing cycle. So, just take an average of 25 days will do. This is enuf to show you how powerfull is this 25 days effect, thru the power of compaunding!
Thanks to the competition among banking industry. The recent flexi-loan home loan product has help us a lot (if you still not enjoying this, soli...).
The basic of this product is, put your excess $$$ in current/saving account that link to your house loan acc, and it will auto off-set for balance outstanding interest calculation.
So, what does it related to Credit Card?
My monthly fixed spending (insur, Digi, TNB, etc) is about 2500. Variable spending is another 2500. Total is around 5K per month. I love to use CC wherever possible, even for a very small amount.
Take an average of 25 days free interest period (normally I only issue cheque to pay on last 3 days, fully utilise).
That 25 days is actually a REAL saving to me, benefit thru my housing loan! WHY?
CC give me 25 days, means that 5K still remain in my current/saving acc for 25 days. What can this brings to you?
My current house rate is BLR-1.55%, net at 4.45%.
RM5000 x 4.45% / 365 x 25 days = RM15.23
Means by using CC, every month it helps me to save RM15.23 or RM183 a year indirectly!
Sounds small amount? How about over 30 yrs repayment period? That is RM5490 saving!
Don forget, the BLR just start to drop recently. If based on previous rate, I actually save more.
Apart from this, I also getting cash rebate about RM37.50/month, or RM540 a yr. And the beauty of it is, I am leveraging bank's resources for those items that is a "MUST" spending for daily life, not for something that I "desired" for.
I came acrossed a lot of articles in different forum. Mostly talking negatively about credit card.
To me, I totally disagreed.
No doubt the flexibility provided by CC has very strong influences to encourage one to spend more, especially a lot of promotion with zero interest installment plan. Obviously, this is a trap for those who are poor in their financial control & planning. If you are one of them, the best way is not to hold any CC. Cash is your solution.
To me, CC is a very good financial tools. Some cards provide Cash Rebate, some can collect points to exchange free gift.
More importantly, the 30 days + 20 days, a total of 50 days free interest financial leveraging!
If you have been suffering from house loan interest, car loan interest, you should already learned from this experience to manage how to leverage the 50 days free interest from CC. If you don, pity you...
Of course, there is no way to enjoy full 50 days free interest. Because it's not possible that you can plan your monthly budget and spend all in 1st day of each monthly billing cycle. So, just take an average of 25 days will do. This is enuf to show you how powerfull is this 25 days effect, thru the power of compaunding!
Thanks to the competition among banking industry. The recent flexi-loan home loan product has help us a lot (if you still not enjoying this, soli...).
The basic of this product is, put your excess $$$ in current/saving account that link to your house loan acc, and it will auto off-set for balance outstanding interest calculation.
So, what does it related to Credit Card?
My monthly fixed spending (insur, Digi, TNB, etc) is about 2500. Variable spending is another 2500. Total is around 5K per month. I love to use CC wherever possible, even for a very small amount.
Take an average of 25 days free interest period (normally I only issue cheque to pay on last 3 days, fully utilise).
That 25 days is actually a REAL saving to me, benefit thru my housing loan! WHY?
CC give me 25 days, means that 5K still remain in my current/saving acc for 25 days. What can this brings to you?
My current house rate is BLR-1.55%, net at 4.45%.
RM5000 x 4.45% / 365 x 25 days = RM15.23
Means by using CC, every month it helps me to save RM15.23 or RM183 a year indirectly!
Sounds small amount? How about over 30 yrs repayment period? That is RM5490 saving!
Don forget, the BLR just start to drop recently. If based on previous rate, I actually save more.
Apart from this, I also getting cash rebate about RM37.50/month, or RM540 a yr. And the beauty of it is, I am leveraging bank's resources for those items that is a "MUST" spending for daily life, not for something that I "desired" for.
Subscribe to:
Posts (Atom)
