If FV wrong.. then dig own grave lar.. apa steady steady? 

I remember.... reading recently a report saying the banks were selling under its cash per share value....



I wonder why....

From what I read, DCFA is best for mature companies. Growth companies need cash for re-investment, so cash flow fluctuates.

For REIT, net rental income...

The NPL they let you see is just the tip of the ice berg... a lot of NPL is off the books one in china.. like lehman minibonds where the FFF risk is re-packaged into a AAA investment.

Already got a few of these 'investment grade' default, but still the government cover up... the rest when want burst only. 

The NPL they let you see is just the tip of the ice berg... a lot of NPL is off the books one in china.. like lehman minibonds. Already got a few default, but still the government cover up... when want burst only. 

I remember.... reading recently a report saying the banks were selling under its cash per share value....



I wonder why....

If burst, then really no eye see. Msia property market will burst too

I actually know de...shadow banking mah.

I sigh this for sometimes already. Maybe one word stubborn. Since 07 these bank macam never recovered one.

Those US investment bank almost every month also post regarding the NPL , shadow banking , toxic assets 

Can say I hear until no feeling already.

Stock up and down like roller coaster. sometimes up 8 % in one day, sometimes drop 8% in one.

The risks have ballooned as China has added new credit roughly equal to the size of the entire US banking system in just the past five years.

Total debt as a percentage of GDP has increased from 130 per cent in 2008 to about 220 per cent at the end of last year, according to estimates from Fitch Ratings.

An increase of that speed and scale has almost always been succeeded by a crisis in other economies.

The big concern in China is that much of the debt build-up – as much as half of all credit extended last year by some estimates – has happened in the opaque and lightly regulated “shadow banking” sector.

The failure of Chaori Solar Energy Science and Technology has been called China’s ‘Bear Stearns moment’. Diana Choyleva, of Lombard Street Research, tells John Authers it may need a larger Lehman-type failure if it is to deal with its overhang of debt.

Shadow banking in China is much less sophisticated or toxic than the financial engineering that happened on Wall Street before the 2008 financial crisis and its capacity to shake the broader system is also a lot more limited.

But that does not mean investors should not worry.

Much of the credit coming from the shadows goes to risky, high-interest loans to struggling property developers, steel mills or glass factories that cannot borrow directly from the more regulated state banks.

A sizeable portion of these multiyear loans are then repackaged into poorly documented financial products with maturities of just several months.

These are then sold through banks to ordinary investors with promised returns that are well above government-capped deposit rates.

When pressed by the regulators, banks insist any risk associated with these products is borne by investors but the vast majority of investors believe these products are ultimately guaranteed by the state.

After all, they were sold by state banks, sometimes with explicit but illegal guarantees from overeager salespeople, and until recently the government has always stepped in at the last minute to make sure these products do not collapse.

Msia property market burst... construction supply business can chap lap already.. jonchai no work de...

Better don't wish for that. 

Msia property market burst... construction supply business can chap lap already.. jonchai no work de...

Better don't wish for that. 

Almost 1 and half year already lo...not recently happened one. 

If burst, then really no eye see. Msia property market will burst too

Nah new one... how they repackage these toxic loans....

Cannot sell? More like overpriced than cannot sell. There will be buyers as long as price is right.

It's a telltale sign. In fact, we expected that to happen last year. It didn't. But it should in the next 2 years. Property market, as usual, booms and busts.