此為未來地鐵路線圖
星期二, 5月 30, 2006
星期二, 5月 23, 2006
星期三, 5月 17, 2006
New Vision New City
最近看到一個樓盤廣告 驚嘆地產商使用宣染手法到非常誇張的程度 樓盤原為市區重建局與某發展商的綜合發展項目 鄰近一個新的購物商場跟一棟新的商業大樓 此區是新市鎮中的幾條大約十年前收回的舊街 用來重新發展 發展商一個月前 到日本著名重建區六本目進行路演 請來該國著名設計師宣傳 將該區塑造為六本目的翻版 設計師當著傳媒稱讚發展商 獨到慧眼 還拍心口預測該區絕有勢頭想六本目一樣的新亮點 前幾天 觀眾開始在電視上看到一隻金馬 在一片漆黑夜空中奔騰 當馬飛到某個角落 就發現一群金色的建築物在閃亮著 此群建築物發光發亮 另平凡的夜空帶來了光彩 激昂的音樂當中 此群建築物有吸光作用 另幾十道強光向其衝去 真令人有點請救地球的感覺 再看樓盤 只不過是標榜為豪宅的半鐵路項目 而當鐵路其他項目完成之後 又會被新的建築阻擋了視線 唯一有說服力的一點是這個是一個有new vision的東西 再一個new city裡面 很快就會被更new的東西所取代
星期二, 5月 16, 2006
My first feature story in Asia Money
The hunt for good telecommunications assets will continue this year as incumbent acquirers may pay high premiums to fend off upcoming challengers, reports mergermarket.
The past 12 months have seen some frenzied consolidation in the Asia-Pacific telecommunications (TMT) industry. In the first quarter of 2006, announced M&A deals in the TMT sector amounted to US$26.5 billion, edging out financial services and energy with US$18.7 billion and US$17.6 billion worth of activity respectively, to become the busiest sector for consolidation in Asia-Pacific, according to mergermarket data.
Average deal size is also increasing, with six out of the 10 largest deals recorded over the past three years being announced in the past 12 months. M&A deals in the telecoms carriers sub-sector accounted for 17.4% of the US$46.1 billion in total value of deals announced across all sectors over the past four quarters.
Such frenetic activity has not been seen since 2000, when global telecommunications companies viewed extravagant takeovers and mergers as the only way to maintain competitiveness. The success of such TMT deals has varied, but many telecoms companies are now targeting Asia, with the belief that the region can provide sustained long-term growth.
Leading domestic communications companies have been scouring the market for new engines of growth while consolidation has continued in their own home markets. The biggest deal announced in the first quarter of 2006 was Vodafone's exit from Japan. As part of Vodafone's global restructuring plan, the telecoms giant in March agreed to sell its stake in Vodafone KK to Softbank for US$15.3 billion. UBS advised the vendor while Citigroup and Deutsche Bank advised the bidder.
Analysts predict foreign partnership deals will increase this year, but more in terms of value than volume as it will be increasingly difficult to find smaller, cheaper companies to snap up. As one sector analyst says: "Asia is no longer cheap."
With stabilizing local currencies and improving economies in many countries, Asian operators are expecting higher yield from their investments, which lessens the financial need for tie-ups. "Some companies are announcing higher dividends, while some of them are doing buybacks and they are positive about the businesses," says another analyst.
Besides finding it difficult to identify valued potential targets, traditional buyers will see their strategies complicated further by the emergence of cash-rich operators with ambitious management also looking to expand overseas. The recent acquisition by Etisalat and Dubai Islamic Bank of a 26% stake in Pakistan Telecom for US$2.6 billion, is an example of growing competition in potentially very lucrative markets. Aggressive plans by incumbent acquirers such as Japanese NTT DoCoMo, SingTel and Telekom Malaysia may face a challenge with the emergence of acquisitive counterparts from strong markets, such as SK Telecom, Maxis and Chunghwa Telecom. These players are expected to be looking for potential targets in Pakistan, Vietnam, India and China, where mobile-phone operations are less mature, and where the market is under-penetrated. M&A activity in the Philippines and Indonesia is slowing, and regulatory uncertainties in Thailand are hindering some deals from happening, some analysts believe.
Private equity funds in the TMT sector add another interesting dynamic. In January, Newbridge Capital, partnering with TPG-Axon Capital, announced its plan to become the third-largest shareholder in Hong Kong-based operator PCCW by buying shares from Pacific Century Regional Developments (PCRD), a Singapore investment holding company that owns a 23% stake in PCCW. The latest news reports state that the consortium now plans to up its offer in order to privatize PCRD.
While integrated players that can utilize content in different mediums are attractive, regulatory issues and politics, which surprisingly stained the Shin Corp/Temasek deal in Thailand, will be a key to success. For domestic consolidation, Hong Kong will continue to be an interesting arena following a few takeovers in the past 12 months. Deals such as the disposal of China Resources Peoples Telephone to China Mobile; the merger between New World Mobility and Telstra's CSL; and the purchase of Sunday by PCCW, of which 20% is, in turn, owned by China Netcom, were viewed by some as a proxy of future consolidation in the Chinese market. Market rumours regarding further restructuring are likely to continue but it will be interesting to see if there are any announcements before China rolls out its 3G licence this year. It will also be interesting to see whether heavy subsidies to Hutchison's global 3G businesses will affect its overall Asian strategy and whether PCCW's bid to gain market share in Hong Kong will cause a further shake-up in the sector.
The past 12 months have seen some frenzied consolidation in the Asia-Pacific telecommunications (TMT) industry. In the first quarter of 2006, announced M&A deals in the TMT sector amounted to US$26.5 billion, edging out financial services and energy with US$18.7 billion and US$17.6 billion worth of activity respectively, to become the busiest sector for consolidation in Asia-Pacific, according to mergermarket data.
Average deal size is also increasing, with six out of the 10 largest deals recorded over the past three years being announced in the past 12 months. M&A deals in the telecoms carriers sub-sector accounted for 17.4% of the US$46.1 billion in total value of deals announced across all sectors over the past four quarters.
Such frenetic activity has not been seen since 2000, when global telecommunications companies viewed extravagant takeovers and mergers as the only way to maintain competitiveness. The success of such TMT deals has varied, but many telecoms companies are now targeting Asia, with the belief that the region can provide sustained long-term growth.
Leading domestic communications companies have been scouring the market for new engines of growth while consolidation has continued in their own home markets. The biggest deal announced in the first quarter of 2006 was Vodafone's exit from Japan. As part of Vodafone's global restructuring plan, the telecoms giant in March agreed to sell its stake in Vodafone KK to Softbank for US$15.3 billion. UBS advised the vendor while Citigroup and Deutsche Bank advised the bidder.
Analysts predict foreign partnership deals will increase this year, but more in terms of value than volume as it will be increasingly difficult to find smaller, cheaper companies to snap up. As one sector analyst says: "Asia is no longer cheap."
With stabilizing local currencies and improving economies in many countries, Asian operators are expecting higher yield from their investments, which lessens the financial need for tie-ups. "Some companies are announcing higher dividends, while some of them are doing buybacks and they are positive about the businesses," says another analyst.
Besides finding it difficult to identify valued potential targets, traditional buyers will see their strategies complicated further by the emergence of cash-rich operators with ambitious management also looking to expand overseas. The recent acquisition by Etisalat and Dubai Islamic Bank of a 26% stake in Pakistan Telecom for US$2.6 billion, is an example of growing competition in potentially very lucrative markets. Aggressive plans by incumbent acquirers such as Japanese NTT DoCoMo, SingTel and Telekom Malaysia may face a challenge with the emergence of acquisitive counterparts from strong markets, such as SK Telecom, Maxis and Chunghwa Telecom. These players are expected to be looking for potential targets in Pakistan, Vietnam, India and China, where mobile-phone operations are less mature, and where the market is under-penetrated. M&A activity in the Philippines and Indonesia is slowing, and regulatory uncertainties in Thailand are hindering some deals from happening, some analysts believe.
Private equity funds in the TMT sector add another interesting dynamic. In January, Newbridge Capital, partnering with TPG-Axon Capital, announced its plan to become the third-largest shareholder in Hong Kong-based operator PCCW by buying shares from Pacific Century Regional Developments (PCRD), a Singapore investment holding company that owns a 23% stake in PCCW. The latest news reports state that the consortium now plans to up its offer in order to privatize PCRD.
While integrated players that can utilize content in different mediums are attractive, regulatory issues and politics, which surprisingly stained the Shin Corp/Temasek deal in Thailand, will be a key to success. For domestic consolidation, Hong Kong will continue to be an interesting arena following a few takeovers in the past 12 months. Deals such as the disposal of China Resources Peoples Telephone to China Mobile; the merger between New World Mobility and Telstra's CSL; and the purchase of Sunday by PCCW, of which 20% is, in turn, owned by China Netcom, were viewed by some as a proxy of future consolidation in the Chinese market. Market rumours regarding further restructuring are likely to continue but it will be interesting to see if there are any announcements before China rolls out its 3G licence this year. It will also be interesting to see whether heavy subsidies to Hutchison's global 3G businesses will affect its overall Asian strategy and whether PCCW's bid to gain market share in Hong Kong will cause a further shake-up in the sector.
星期五, 5月 12, 2006
USD 455m
日日對住咁大的deal 不禁想起如果我有幾億就好
Baker & Taylor acquired by Castle Harlan for USD 455m
Castle Harlan, the New York-based private equity investment firm, announced that a private equity investment fund it organized and manages agreed to buy Baker & Taylor.
Baker & Taylor is a North Carolina domestic and international distributor of books and entertainment products to libraries and retailers. The transaction is valued at USD 455m. It serves customers in 98 countries around the world and has six distribution facilities strategically located throughout the country.
The company is being sold by an investment partnership organized by Willis Stein & Partners, an Illinois private equity firm. It had acquired Baker & Taylor in 2003. Consummation of the transaction with Castle Harlan is contingent upon the satisfaction of customary legal and business conditions.
Copyright: mergermarket.com
Baker & Taylor acquired by Castle Harlan for USD 455m
Castle Harlan, the New York-based private equity investment firm, announced that a private equity investment fund it organized and manages agreed to buy Baker & Taylor.
Baker & Taylor is a North Carolina domestic and international distributor of books and entertainment products to libraries and retailers. The transaction is valued at USD 455m. It serves customers in 98 countries around the world and has six distribution facilities strategically located throughout the country.
The company is being sold by an investment partnership organized by Willis Stein & Partners, an Illinois private equity firm. It had acquired Baker & Taylor in 2003. Consummation of the transaction with Castle Harlan is contingent upon the satisfaction of customary legal and business conditions.
Copyright: mergermarket.com
星期二, 5月 09, 2006
World Cup timetable (HK Time)
A組 - 德國、哥斯達黎加、波蘭、厄瓜多爾
> > 2006/06/10 12:30am 德國 vs 哥斯達黎加
> > 2006/06/10 03:00am 波蘭 vs 厄爪多爾
> > 2006/06/15 03:00am 德國 vs 波蘭
> > 2006/06/15 09:00pm 厄爪多爾 vs 哥斯達黎加
> > 2006/06/20 10:00pm 厄爪多爾 vs 德國
> > 2006/06/20 10:00pm 哥斯達黎加 vs 波蘭
> > -----------------------
> > B組 - 英格蘭、巴拉圭、千里達、瑞典
> > 2006/06/10 09:00pm 英格蘭 vs 巴拉圭
> > 2006/06/11 12:00am 千里達 vs 瑞典
> > 2006/06/16 12:00am 英格蘭 vs 千里達
> > 2006/06/16 03:00am 瑞典 vs 巴拉圭
> > 2006/06/21 03:00am 瑞典 vs 英格蘭
> > 2006/06/21 03:00am 巴拉圭 vs 千里達
> > -----------------------
> > C組 - 阿根廷、科特迪瓦、塞黑、荷蘭
> > 2006/06/11 03:00am 阿根廷 vs 科特迪瓦
> > 2006/06/11 09:00pm 塞黑 vs 荷蘭
> > 2006/06/16 09:00pm 阿根廷 vs 塞黑
> > 2006/06/17 12:00am 荷蘭 vs 科特迪瓦
> > 2006/06/22 03:00am 荷蘭 vs 阿根廷
> > 2006/06/22 03:00am 科特迪瓦 vs 塞黑
> > -----------------------
> > D組 - 墨西哥、伊朗、安哥拉、葡萄牙
> > 2006/06/12 12:00am 墨西哥 vs 伊朗
> > 2006/06/12 03:00am 安哥拉 vs 葡萄牙
> > 2006/06/17 03:00am 墨西哥 vs 安哥拉
> > 2006/06/17 09:00pm 葡萄牙 vs 伊朗
> > 2006/06/22 03:00am 葡萄牙 vs 墨西哥
> > 2006/06/22 03:00am 伊朗 vs 安哥拉
> > -----------------------
> > E組 - 意大利、加納、美國、捷克
> > 2006/06/12 09:00pm 意大利 vs 加納
> > 2006/06/12 12:00am 美國 vs 捷克
> > 2006/06/18 12:00am 意大利 vs 美國
> > 2006/06/18 03:00am 捷克 vs 加納
> > 2006/06/22 10:00am 捷克 vs 意大利
> > 2006/06/22 10:00am 加納 vs 美國
> > ------------------------
> > F組 - 巴西、克羅地亞、澳洲、日本
> > 2006/06/12 09:00pm 巴西 vs 克羅地亞
> > 2006/06/14 03:00am 澳洲 vs 日本
> > 2006/06/18 09:00pm 巴西 vs 澳洲
> > 2006/06/19 12:00am 日本 vs 克羅地亞
> > 2006/06/23 03:00am 日本 vs 巴西
> > 2006/06/23 03:00am 克羅地亞 vs 澳洲
> > ------------------------
> > G組 - 法國、瑞士、南韓、多哥
> > 2006/06/14 12:00am 法國 vs 瑞士
> > 2006/06/14 03:00am 南韓 vs 多哥
> > 2006/06/19 03:00am 法國 vs 南韓
> > 2006/06/19 09:00pm 多哥 vs 瑞士
> > 2006/06/23 10:00pm 多哥 vs 法國
> > 2006/06/23 10:00pm 瑞士 vs 南韓
> > -------------------------
> > H組 - 西班牙、烏克蘭、突尼西亞、沙地亞拉伯
> > 2006/06/14 09:00pm 西班牙 vs 烏克蘭
> > 2006/06/15 12:00am 突尼西亞 vs 沙地亞拉伯
> > 2006/06/20 12:00am 西班牙 vs 突尼西亞
> > 2006/06/20 03:00am 沙地亞拉伯 vs 烏克蘭
> > 2006/06/24 03:00am 沙地亞拉伯 vs 西班牙
> > 2006/06/24 03:00am 烏克蘭 vs 突尼西亞
> > --------------------
> > 16強：
> > 2006/06/24 11:00pm A組首名 vs B組次名 -- 1
> > 2006/06/25 03:00am C組首名 vs D組次名 -- 2
> > 2006/06/25 11:00pm B組首名 vs A組次名 -- 3
> > 2006/06/26 03:00am D組首名 vs C組次名 -- 4
> > 2006/06/26 11:00pm E組首名 vs F組次名 -- 5
> > 2006/06/27 03:00am E組首名 vs H組次名 -- 6
> > 2006/06/27 11:00pm F組首名 vs E組次名 -- 7
> > 2006/06/28 03:00am H組首名 vs G組次名 -- 8
> > --------------------
> > 8強：
> > 2006/06/30 11:00pm 1 vs 2 -- 9
> > 2006/07/01 03:00am 5 vs 6 -- 10
> > 2006/07/01 11:00pm 3 vs 4 -- 11
> > 2006/07/02 03:00am 7 vs 8 -- 12
> > --------------------
> > 4強
> > 2006/07/05 03:00am 9 vs 10
> > 2006/07/06 03:00am 11 vs 12
> > 季軍戰
> > 2006/07/09 03:00am
> > 冠軍戰
> > 2006/07/10 02:00am
> > 2006/06/10 12:30am 德國 vs 哥斯達黎加
> > 2006/06/10 03:00am 波蘭 vs 厄爪多爾
> > 2006/06/15 03:00am 德國 vs 波蘭
> > 2006/06/15 09:00pm 厄爪多爾 vs 哥斯達黎加
> > 2006/06/20 10:00pm 厄爪多爾 vs 德國
> > 2006/06/20 10:00pm 哥斯達黎加 vs 波蘭
> > -----------------------
> > B組 - 英格蘭、巴拉圭、千里達、瑞典
> > 2006/06/10 09:00pm 英格蘭 vs 巴拉圭
> > 2006/06/11 12:00am 千里達 vs 瑞典
> > 2006/06/16 12:00am 英格蘭 vs 千里達
> > 2006/06/16 03:00am 瑞典 vs 巴拉圭
> > 2006/06/21 03:00am 瑞典 vs 英格蘭
> > 2006/06/21 03:00am 巴拉圭 vs 千里達
> > -----------------------
> > C組 - 阿根廷、科特迪瓦、塞黑、荷蘭
> > 2006/06/11 03:00am 阿根廷 vs 科特迪瓦
> > 2006/06/11 09:00pm 塞黑 vs 荷蘭
> > 2006/06/16 09:00pm 阿根廷 vs 塞黑
> > 2006/06/17 12:00am 荷蘭 vs 科特迪瓦
> > 2006/06/22 03:00am 荷蘭 vs 阿根廷
> > 2006/06/22 03:00am 科特迪瓦 vs 塞黑
> > -----------------------
> > D組 - 墨西哥、伊朗、安哥拉、葡萄牙
> > 2006/06/12 12:00am 墨西哥 vs 伊朗
> > 2006/06/12 03:00am 安哥拉 vs 葡萄牙
> > 2006/06/17 03:00am 墨西哥 vs 安哥拉
> > 2006/06/17 09:00pm 葡萄牙 vs 伊朗
> > 2006/06/22 03:00am 葡萄牙 vs 墨西哥
> > 2006/06/22 03:00am 伊朗 vs 安哥拉
> > -----------------------
> > E組 - 意大利、加納、美國、捷克
> > 2006/06/12 09:00pm 意大利 vs 加納
> > 2006/06/12 12:00am 美國 vs 捷克
> > 2006/06/18 12:00am 意大利 vs 美國
> > 2006/06/18 03:00am 捷克 vs 加納
> > 2006/06/22 10:00am 捷克 vs 意大利
> > 2006/06/22 10:00am 加納 vs 美國
> > ------------------------
> > F組 - 巴西、克羅地亞、澳洲、日本
> > 2006/06/12 09:00pm 巴西 vs 克羅地亞
> > 2006/06/14 03:00am 澳洲 vs 日本
> > 2006/06/18 09:00pm 巴西 vs 澳洲
> > 2006/06/19 12:00am 日本 vs 克羅地亞
> > 2006/06/23 03:00am 日本 vs 巴西
> > 2006/06/23 03:00am 克羅地亞 vs 澳洲
> > ------------------------
> > G組 - 法國、瑞士、南韓、多哥
> > 2006/06/14 12:00am 法國 vs 瑞士
> > 2006/06/14 03:00am 南韓 vs 多哥
> > 2006/06/19 03:00am 法國 vs 南韓
> > 2006/06/19 09:00pm 多哥 vs 瑞士
> > 2006/06/23 10:00pm 多哥 vs 法國
> > 2006/06/23 10:00pm 瑞士 vs 南韓
> > -------------------------
> > H組 - 西班牙、烏克蘭、突尼西亞、沙地亞拉伯
> > 2006/06/14 09:00pm 西班牙 vs 烏克蘭
> > 2006/06/15 12:00am 突尼西亞 vs 沙地亞拉伯
> > 2006/06/20 12:00am 西班牙 vs 突尼西亞
> > 2006/06/20 03:00am 沙地亞拉伯 vs 烏克蘭
> > 2006/06/24 03:00am 沙地亞拉伯 vs 西班牙
> > 2006/06/24 03:00am 烏克蘭 vs 突尼西亞
> > --------------------
> > 16強：
> > 2006/06/24 11:00pm A組首名 vs B組次名 -- 1
> > 2006/06/25 03:00am C組首名 vs D組次名 -- 2
> > 2006/06/25 11:00pm B組首名 vs A組次名 -- 3
> > 2006/06/26 03:00am D組首名 vs C組次名 -- 4
> > 2006/06/26 11:00pm E組首名 vs F組次名 -- 5
> > 2006/06/27 03:00am E組首名 vs H組次名 -- 6
> > 2006/06/27 11:00pm F組首名 vs E組次名 -- 7
> > 2006/06/28 03:00am H組首名 vs G組次名 -- 8
> > --------------------
> > 8強：
> > 2006/06/30 11:00pm 1 vs 2 -- 9
> > 2006/07/01 03:00am 5 vs 6 -- 10
> > 2006/07/01 11:00pm 3 vs 4 -- 11
> > 2006/07/02 03:00am 7 vs 8 -- 12
> > --------------------
> > 4強
> > 2006/07/05 03:00am 9 vs 10
> > 2006/07/06 03:00am 11 vs 12
> > 季軍戰
> > 2006/07/09 03:00am
> > 冠軍戰
> > 2006/07/10 02:00am
星期一, 5月 08, 2006
星期六, 5月 06, 2006
Friday thoughts
Going to Lamma tomorrow and will see hot Japanese colleague and my mentor from London. Sunday going to bring the British to a hike @ Saikung's waterfalls. Not sure if I should bring camera since things and men will all get all soaked.
Tonight had an long and open conversation with my longtime friends on life and girls. Three men chatted and fretted and came to no conclusion.
A thought after saying good night to my mum. Why is she getting old?
Tonight had an long and open conversation with my longtime friends on life and girls. Three men chatted and fretted and came to no conclusion.
A thought after saying good night to my mum. Why is she getting old?
星期五, 5月 05, 2006
我與一個做有線的同學之談話
我:
不如我地夾錢看世界杯
威
下？？裝有線？唔睇，公司都有得睇。
我；
唔想看多ｄ自己meh
hehe
威
唔想，冇人工加無眼睇。
我:
咁你如果找到工 記住係電視機面前同觀眾講屌你老母呀
威
如果喺直播就好啦，我都唔係直播﹗﹗
我:
哎呀
威
直播：歡迎收睇XXX、我喺XXX。小慧呀，今日屌唔屌新地個老母好呀？
我:
我覺得都好呀 不過其實如果你要屌 我比你屌啦 我成日都想比人屌架
oh sorry 好似太過份
威
接：又夠鐘講bb，如果想繼續屌，可以屌有線個老母。
哈哈。
我:
各位觀眾再見 記得行路小心ｄ！
同埋明天記得轉看now byebye
威
如果做anchor玩野
報價個陣：嗱，隻匯豐又升穿一百四十蚊，仆街、唔係係四百一十蚊，唔係唔係，屌，係跌到十個四毫半。
我:
有分析員表示 匯豐升到410 蚊根本係無mud 七可能 但ｄ散戶又唔能信 所以先造成對近幾天既升勢
威
分析員表示 匯豐升到410 蚊根本係無mud 七可能，但仍然維持匯豐評級為跑羸大市，仲提醒散戶如果唔能信，可以繼續高位追入，等你地個個仆街都破產。
不如我地夾錢看世界杯
威
下？？裝有線？唔睇，公司都有得睇。
我；
唔想看多ｄ自己meh
hehe
威
唔想，冇人工加無眼睇。
我:
咁你如果找到工 記住係電視機面前同觀眾講屌你老母呀
威
如果喺直播就好啦，我都唔係直播﹗﹗
我:
哎呀
威
直播：歡迎收睇XXX、我喺XXX。小慧呀，今日屌唔屌新地個老母好呀？
我:
我覺得都好呀 不過其實如果你要屌 我比你屌啦 我成日都想比人屌架
oh sorry 好似太過份
威
接：又夠鐘講bb，如果想繼續屌，可以屌有線個老母。
哈哈。
我:
各位觀眾再見 記得行路小心ｄ！
同埋明天記得轉看now byebye
威
如果做anchor玩野
報價個陣：嗱，隻匯豐又升穿一百四十蚊，仆街、唔係係四百一十蚊，唔係唔係，屌，係跌到十個四毫半。
我:
有分析員表示 匯豐升到410 蚊根本係無mud 七可能 但ｄ散戶又唔能信 所以先造成對近幾天既升勢
威
分析員表示 匯豐升到410 蚊根本係無mud 七可能，但仍然維持匯豐評級為跑羸大市，仲提醒散戶如果唔能信，可以繼續高位追入，等你地個個仆街都破產。
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