12.5.05

賤賣


「嘩!這部二手車,又殘又舊,甩皮甩骨,叫人如何買得落手?究竟你想賣多少錢?」

  「廿萬。」

  「廿萬?你畀我呀?!」

**********************************

  以上的晦氣說話片段,過往只限於朋輩間說說笑話,又或者在價錢談不攏的時候出現。原來,現實世界的確可以購物兼且有錢賺。

  和黃(013)將提早收購DoCoMoKPN手上的英國3G股份,完成收購後,和黃賬面上將錄得九十四億元純利。

  雖然這九十四億元並不代表有現金落袋,坊間評論大多指毋須過分在意,但購物有錢賺畢竟罕有,值得思考。

  出現賬面盈利,是因為DoCoMoKPN兩家公司所持有英國3G的淨資產,比和黃付出收購的代價還要高。訂定收購價是藝術,資產淨值是基數,除非賬面值遠低於市價。日、荷兩家公司願意把手上資產賤賣,不問價錢但求脫手,就像你到二手車場,看見一部黑色04年平治E320

  正當你心動時,那個Sales跟你說只售十五萬,你即時心裏打個突,暗忖:「必有什麼古怪!」人同此心,四海皆是。

  其次,時間掌握同樣是藝術。今年上半年先有這九十四億元特殊盈利打底,一切好辦事,如今只需要籌謀下半年如何施展雕蟲小技,那麼今年業績又可以交功課。有如「精英大師」已經創世界紀錄,以後無論跑千六甚至乎更長途,都可以輕鬆面對。

  還有,應該要看看日、荷兩家公司如何向股東交代賤賣英國3G股權給和黃。他日我找到這些向股東解畫的資料,必定公諸同好。畢竟我在這裏整天價寫3G都不是味兒,應該客觀地看看業界人士如何自圓其說。

*******************************

  「卓,毋須勞氣。這部錢七你廿萬嫌貴,對面車場有部十萬有找,包你話抵!」

  我腦海中閃過3GDoCoMo、和黃……,然後定一定神,大聲說:「Let's go!

39 comments:

Andy said...

Good that we can now read your column on line. I shall try to leave you some feedback from time to time. I do enjoy your column. Please keep it up.

Anonymous said...

I like to view your article.
Push oil!

蛋散小戶 said...

我是貴欄地盤的忠實讀者
客套話不多說了, 可否刊登雲妮的照片?






(說笑的)

Anonymous said...

It is great to see your articles on line. But in my opinion, be fair to 信報's readers and 信報, it is better to post your article here after post at 信報 for 1 to 2 days.

If your article header can be appeared (without content) and accept comments, it will be perfect to the early birds. They can leave ther opinion after reading it from the newspaper.

Ding Lik

Anonymous said...

Your article is interesting and inspiring. I really enjoy to read your article. I work in PRC but still ask my wife to buy HKEJ everyday so that I can go through your column at weekend.

I do hope that your column can conduct more in depth analysis, disclose more secret news, to enrich we outsiders knowledge

Anonymous said...

今日讀你"博客"的文章,小弟聞風而至,立刻bookmark左個網址! 我們實在很需要你這行內人去道出投資界的種種.

Duke of Aberdeen said...

剛讀完你今天在信報的文章,只想跟你說聲,每天都讀你和孔少林的文章。

Fei said...

I read Your article everyday.
Good job!

Fei said...

I still don't understand the accounting table. Maybe, I need to take a course.

港燦 said...

1. 孔少林會不會在這裡再強調 "我不是原復生" 呢?

2. 信報各把受歡迎的個別專欄結集成書。要找信報的舊文章一向都要付費 ( 例如用 wisers )你把舊文在 blog 上免費公開,林小姐有無異議?

~~ 都好想一睹雲妮芳容的讀者港燦上

Anonymous said...

Excellence!
Thanks for your work. Please go on.

Mandy said...

很高興能在網上讀到閣下的文章,須然本人並非股票投資者,但拜讀閣下之直率分析,獲益良多.立即通知友好到此網站瀏覽,請多加努力!!!

Jasper said...

你和孔少林的專欄都是我每天的至喜歡閱讀的文章, 有沒有時間都會第一時間看...

JL said...

專欄作家能以blog跟讀者溝通, 好事.

早前林先生介紹的Freakonomics, 兩位作者亦以blog會友, 好不熱鬧.

http://www.freakonomics.com/blog.php

simon said...

我是信報及貴地盤的捧場客,
在財經演員充斥市場的當兒,
希望你及孔少林,
繼續為讀者撰寫具深度的財經分析,
鞭撻大股東魚肉小股東的醜行,
及揭露財經演員及大行混水摸魚的技倆!

Origin said...

This blog attracts lots of readers. It is nice to share our opinions. One suggestion is that you can insert some google Ads to boost your revenue.

qubo said...

卓!叫林小姐攪個信報Online吧,我第一個比錢佢賺!

simon said...

贊成qubo的建議,
基本上我仍喜歡呷著咖啡,
捧著報紙閱讀,
但畢竟要剪存的話很是不便, 
e-copy就方便多了,
我絕對願意付鈔subscribe the online version!

Villeo said...

信報 online 係 good idea,但係起碼要快過 Financial Times,太慢係好 frustrated。家陣有D好似上網睇 Lex column 咁o既 feel。

gary said...

hi there..
its great to be able to leave u some words everday after reading ur articles during breakfast..
I think both u new guys (Mr. Hung)are doing really great job and please keep it up ...
o.. u are a snowboarder? thats cool..

Blackmoor said...

I think I have been reading Hong Kong Economic Journal for some years. And I am glad some part of it has finally been published regluarly on the Internet.

And I am going to take this opportunity to urge the management of Hong Kong Economic Journal to put all the HKEJ on the net. I believe many Chinese currently not residing in Hong Kong really wants to read the paper.

Anonymous said...

Good work, Fong !!!

Previously articles from Boss Lam and Mr Chow Yan-Chiu is my main reason to read HKEJ and i must say that articles of yours and your neighbour Hung's become my daily (weekday) readings too =P

先寇布 said...
This comment has been removed by a blog administrator.
先寇布 said...

非常高興見到貴欄願意作出新嘗試. 希望信報將來可以借此為經驗考慮將舊文上網

註: Ding Lik 君之意見甚佳

Alex said...

欣聞閣下將文章放在網上與一眾網民分享,真在令我太開心了!你的文章與孔少林的專欄,是我每天讀《信報》的必讀專欄!

也希望《信報》日後能電子化,將昔日文章上網,我相信即使要收費,我們都會願意付的!

Origin said...

Surfing many websites and Google's Group, I found there is short of platform for us to discuss finance or economics. "Mr. Fong, Thanks for providing that."

P.S. It seems that you won't allow external link to be placed on your comment. Am I correct?

Zenith said...

好鍾意睇信報, 當中最鍾意同最先必睇你與孔少林既地盤;清簡又唔悶,一針見血,好野。

Anonymous said...

Cheuk,

Highly readable!

Anonymous said...

Well done!!!!! Keep going BABY!

Anonymous said...

i want 雲妮的照片.

鈍初 said...

卓如呀,
客套話不說了, 為方便讀者, 可否指出文章中重要的更正/修訂/新加部份呢(如加粗/斜體)?
頓首

Anonymous said...

似乎雲妮是最受歡迎,溝到未呀?

Anonymous said...

既然你話這欄愈寫愈短啦,又話做到要趕客推job啦,咁你重咁辛苦寫黎做咩啫,不如算把啦!!

Anonymous said...

just want to say thank you for all the good articles, but is winnie a real person?

文森特 said...

卓如兄:

你與少林兄的專欄,
為小弟每日煩重的工作帶來動力,
未知少林兄有否意欲,
也把他的物語博格化?

P.S.
看來諸位看倌對雲妮之興趣,
大於你從國金的外望!
不如考慮寫個國金外望外傳...

鈍初 said...

每朝閱畢孔兄與卓兄大作, 再看某財經報紙馬經代了的投資版, 就似回望新鴻基和新世界近十多年的發展 - 希望沒有侮辱新世界吧, 怎說現在也是藍籌公司。
但話說回頭, 該報的新聞卻做得比林小姐好, 一般來說報導得較詳細, 數據亦多以表列, 甚方便比較及翻查(望林小姐見之勉之)。

Chris(I)-Object said...

你的專欄係我每朝必睇架, 唔睇完都唔出門口

said...

Thanks for making the column online.

It is really nice to rad both you and Mr. Hung's article, espically for me this newbie to finance.

Really want to say thanks, and keep up~

Supporter said...

Mr. Fong

Well Done !

Keep on your good work, I read your columns every day

If you could archive Mr. Hung, Mr. Cho and your article online, I would subscribe to the archive instead of buying HKEJ newspaper.

Their fiancial news is not good and rich enough comparing with HKET or Apple