China: Market Overview 1st Quarter 2010 Fisher Capital Management Korea

Fisher Capital Management Seoul Korea - April is going to set the tone for the world economy depending on how China is labeled by the US and China’s reaction to it. Our gut feeling is that apart from the rhetoric — which is in the air with respect to the Yuan-dollar rates, China’s current account surplus and internet independence — neither of them will rock the boat.

Already five prominent members of the G20 — South Korea, Canada, France, the US and the UK — have sent a coded warning to China against reneging on economic agreements. Perception of China and the US in international relations is far apart.

According to China, the main issues are Taiwan and the sale of arms to Tibet and

for the US the issues are the Yuan-dollar rate, trade surplus and Internet freedom.

China: Market Overview 1st Quarter 2010 Fisher Capital Management Seoul Korea - Under the Omnibus Trade and Competitiveness Act of 1988, the U.S. government

is to decide whether to label China a “currency manipulator.” This has not been

done since 1994, but if China is named, it will give the US Congress new ammunition

to press for concrete action. China is asserting itself in international relations.

Beijing has emerged from the global recession with a fresh confidence about its

state-led economy, which has delivered stimulus projects from high-speed railways

to highways and bridges with remarkable efficiency. And it is in no mood to be

lectured by Washington about how to support the world economy or to operate her

own economy.

China’s economic growth will be around 10% in 2010 following strong industrial

output growth in coming months. Inflation may rise to 3.5–4% in 2010. The government’s target of inflation is 3%. But, China has hidden debt risk among Chinese local government investment companies. Official estimates of the total outstanding loan balance for such investment entities exceed Rmb 6,000bn — or roughly 20% of GDP — a figure that may be an underestimate.

China: Market Overview 1st Quarter 2010 Fisher Capital Management Korea - Undervaluation of the Yuan is taken for granted and is estimated to be in the range of 30–40%. The US administration believes that the Yuan’s appreciation will not only solve the trade deficit problem between the US and China but also the US unemployment.

Beijing’s position is that China’s currency policy isn’t the cause of the U.S.’s economic problems, and that China wouldn’t adjust its currency rate under outside pressure. “The Chinese government will only make the decision according to the national condition and the country’s development level,” according the Chinese President Wen. China believes that a surge in the Yuan could destabilize the global economy, hitting developing nations especially hard and even perhaps causing the value of the dollar to plunge.

The World Bank forecasts that China’s current-account surplus, the broadest measure

of its trade position, will rise this year to $304 billion, after dropping to $284.1 billion

in 2009 from a record $426.1 billion in 2008.

Fisher Capital is a leading global financial institution holding extensive relationships with financial institutions, institutional investors and corporations across the world.

As a full service company Fisher Capital provides a full range of investment banking services including advanced risk management, corporate strategy and structure, plus raising capital through debt and equity markets. With this as our backbone we continue to provide a client service second to none.

South Korea: Market Overview 2010 Fisher Capital Management Seoul

South Korea:  Fisher Capital Management Seoul  - The South Korean economy is expected to grow by 4–5% in 2010. The government’s efforts were seriously questioned when it clipped the independence of the central bank when the government sent its observers to the central bank’s policy meetings.

However, the central bank will start raising interest rates in the third quarter to prevent inflation and asset bubbles. For the time being inflation is stable. It fell from 3.1% in January to 2.7% in February, but inflation will accelerate in the second half due to higher oil prices and rising imports. This should see policy interest rates

to go up by 25 basis points in the third quarter and another 25 basis points in December.

South Korea: Market Overview 2010 Fisher Capital Management Seoul - The government appointed Mr. Kim, who has served as a presidential economic secretary and is currently South Korea’s ambassador to the Organization for Economic Cooperation and Development. Under the new leadership, the central bank may cooperate even more closely with the government than it has under Governor Lee. The central bank under Mr. Kim may be more willing to risk inflation

in order to ensure that the economic recovery remains on track. The Korean policy

interest rate has been at an all-time low of 2.0% for more than a year now and the bank expects inflation to stay around 2.5% in the near future.

South Korea: Market Overview 2010 Fisher Capital Management Seoul - Fisher Capital is a leading global financial institution holding extensive relationships with financial institutions, institutional investors and corporations across the world.

As a full service company Fisher Capital provides a full range of investment banking services including advanced risk management, corporate strategy and structure, plus raising capital through debt and equity markets. With this as our backbone we continue to provide a client service second to none.

The Fisher Capital Difference

While many financial institutions talk about wealth management, few actually provide the resources to deliver an integrated solution.

Access to industry leading Investment Advisors- Investment Advisors who are invited to join Fisher Capital are recognized leaders in financial services who share our values of trust and integrity. They have built successful practices and are respected by clients for delivering results and superior service.

Exclusive and industry leading products and services - Our Investment Advisory teams constantly review the marketplace searching for trends and opportunities to enhance wealth. Core investment solutions are complemented by our ability to deliver institutional power allowing you to invest alongside Fisher Capital through exclusive offerings such as private equity as well as hedging strategies and other alternative investment strategies.

Personal Investment Management - Fisher Capital is home to many leading Portfolio Managers who assist private clients and institutional investors preferring the convenience of delegating the day-to-day decision making in their portfolio.

Experience our difference - Learn how your Investment Advisor, with the support of the team of professionals at Fisher Capital, can help address the issues you face while preserving, enhancing and transferring your wealth.

Contact your Investment Advisor today.

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Lease Scams

Fisher Capital News Update: Keep updated on recent events, press releases and latest machineries to avoid scam.

FISHER CAPITAL CONSTRUCTION MANAGEMENT - Construction Machineries, Suppliers Directory and Others.

Let's be direct. Unsolicited, "Pre-Qualified credit line" mass mailings are unethical at best.  You know the pitch: "Because of your excellent Dun & Bradstreet rating your company has been selected to receive a $75,000 leasing line of credit!  Just call your customer Service Rep to activate your line".

When you call you are congratulated and then faxed a "membership confirmation form."  You are told to start selecting equipment from vendors of your choice, arrange for delivery and let the vendor know that you are pre-approved by the leasing company.

What are the problems here?  In no certain order, the problems are:

Your company is NOT pre-approved.  The "membership confirmation" is nothing but a credit application.

The rate or payment per month can (and often does) change because of something on your credit report even though you were pre-qualified.

There is now an extortive effect: the equipment is about to be delivered, and you must go along with the high price (or other unpleasant terms), or have to admit to the vendor that your being "pre-approved" was not accurate -- there's a question about your credit.

There are many scams and unfair practices that are all too common in the finance industry (See "What to Watch For," below.).  The mailing list "Pre-Approver" has given you a signal that he is prone to dishonesty.  Be Aware.

We recently received a call from an entrepeneur who has been trying to clean up his credit report.  This fellow has paid off all but $20,000 of a quarter million in delinquencies, charge-offs, and judgements, in spite of his attorney's telling him to just go bankrupt.  I like this guy.  He chose to do the right thing.  But he is not ready to be approved at anything like a reasonable rate.  What's the damage?  Not only did the "Pre-approver" unrealistically raise his hopes and then humiliate him to the three vendors from whom he wanted to acquire equipment, they also "shot-gunned" his application to other leasing companies (apparently trying to broker the deal).  This actually created unnecessary "inquiries" on his credit report, making it worse than it would have been.  

What to Watch For? What can be misrepresented?  The list is long, but here is the simple key to most problems: Verbal assurances are meaningless if they are not written into your lease.  Or, as one industry wit says, "If it's not in the contract, it's not in the deal."

EXAMPLES:

 "blah, blah, blah...and then you own the equipment."  Yeah, sure!  If you do not have a documented one-dollar purchase option - either in the lease or as a separate document, you can look forward to paying anywhere from ten to fifty percent of the original cost of the equipment to purchase it at the end.  What's that? You want to fight it? Monthly rental payments will continue while you are fighting that losing battle.  You MUST make sure BEFORE you sign a lease that the purchase option you negotiated is in binding written form.  By the way, be certain that there are no unreasonable purchase option terms, such as "...you must notify us 90 days before the end of the lease or your lease renews and you must make payments for an additional one year period.

"...and the interest rate is only _____." (Fill in the blank).  A leasing company rep can be held to monthly payment, number of months, purchase option, documentation fee, total dollar amount of finance cost, and number of advance payments.  He cannot be held to the interest rate because it does not appear in the contract.  At Keystone Equipment Leasing, Inc., we encourage comparison shopping.  But compare the things that are in the contract. It is the only way to do an apples-to-apples analysis.  Interest rate formulas are complex things (even Albert Einstein is reputed to have been fascinated) and few people can work it backwards.  At least if you work out several lease quotes yourself, you'll be using the same formula for each to see who has the best deal.  Note:  For the past two decadess we have been offering lunch at the best restaurant in the customer's town if we could not prove that the "interest-rate" quote for any leasing company was inaccurate.  Still no winners.  If you have a few quotes with payment amount and terms, you will be doing the best you can -- and we at Keystone will win your business almost every time.

Advance Rentals vs. Security Deposits:  Advance rentals are usually applied to the first monthly payment and the last one or two payments. Security deposit application is dependent on the ethics of the leasing company.  Is it refundable? Can it be used for the last couple of payments? Is it in addition to a first month's rental. (That would make a two advance payment deal into a three advance payment deal.)

"Is there an early buy-out or pre-payment penalty? Absolutely not!" says the glib lease salesman.  I am reminded of the software engineers' advice: "When all else fails, RTFM (read the manual)."  These contracts are non-cancelable.  A decent leasing company will allow you to discount the accelerated payments at a reasonable rate.  A bad one will allow you to write a check for all of the remaining payments on your lease without adding a penalty payment, and that IS a penalty. You are paying early, without any rebate of the finance charges.

Fisher Capital to Distribute Steam Boilers

TRIAD offers both Low Pressure and High Pressure packaged steam boilers. Warning: These are ready-to-install systems management featuring a perfectly matched powerful and efficient burner/boiler combination ideal for Space Heat and Industrial Process applications. All steam boiler controls and secondary plumbing are in place and pre wired and most TRIAD vessels are designed to easily fit through a three foot wide doorway resulting in a very quick start-up. Warning - TRIAD Steam Boilers heat very rapidly and thus create dry steam quickly.

Fisher Capital to Distribute Steam Boiler Rooms - TRIAD Low Pressure boilers represent an excellent choice for schools & universities, healthcare facilities, apartments, office buildings, and historic landmark buildings. TRIAD High Pressure boilers can support most industrial processing applications. Industrial operators gravitate to TRIAD’s authentic firetube design because it is manufactured in a way similar to larger horizontal industrial boilers. The rugged construction allows for inexpensive long term maintainability and reliability.

Modular boilers are an ideal solution to any facility where redundancy is critical such as health care and processing applications. The small footprint is the perfect solution for universities, and other campus situations that require heating in many diverse buildings. TRIAD boilers are also perfect for decentralizing a large central steam heating plant. Uncomplicated off-the-shelf controls allow for quick and simple maintenance operations.

TRIAD uses burners that fire gas, oil, propane, or dual fuel. Gas trains can be stage-fired via on/off, low/high/off, low/high/low or fully modulating with sizes ranging from 300 MBH to in excess of 2100 MBH.

These are modular boilers, so many can be linked together to create a highly efficient system to satisfy the heaviest demand for steam, yet cycled independently to provide exceptional efficiency during turndown scenarios.

Fisher Capital to Distribute Steam Boiler Rooms - Series 300 Steam LP.  Overview: The Series 300 Steam Boiler is available with firing inputs from 300,000 Btu/hr to 375,000 Btu/hr. However, many millions of Btu’s can be delivered by creating an efficient, fully modular system of up to 24 vessels operated by our computerized control panel.

Design: The Series 300 Steam Boiler is manufactured to exceed ASME Section IV standards and typically is used to provide operating pressure of up to 15 psi with nominal operating temperature of 218°F to 240°F.

These vessels contain 37 vertical firetubes, each of which is 1½" diameter, each fitted with a high-efficiency turbulator for maximum heat transfer. The combustion chamber is fully water-backed, with burners that are UL listed.

This boiler qualifies as a Category I gas appliance with industry standard controls wired to NEC specifications.

Safety: A well-made, heavy vessel is naturally a safer boiler. But TRIAD Boilers also have a firebox design that is completely backed by water, along with extra safety controls on the boiler that results in a very safe and secure package.

Standard Features: The following standard features include nationally known parts and controls that are available at most supply houses, allowing for quick and easy repair and maintenance, which can dramatically reduce down time:

• UL Listed Gas Trains and Control Systems.
• Choice of Power Burners.
• Main and Auxiliary Gas Valves
• Air Flow Switch
• Main Manual Leak Test Valve
• Pressure Control
• High-Limit With Manual Reset
• 5801-30 lb Pressure Gauge
• Siphon Loops
• 15 lb Pressure Relief Valve
• 150 Water Level Control
• Automatic Low Water Cutoff
• Gauge Glass Assembly
• Honeywell Aquastat Relay
• Burner Control Relay
• High Visibility Operating Light
• 1½" Diameter Firetubes of SA178-A Steel
• Turbulators for Maximum Heat Transfer
• Two Inches of Insulation With a Painted Steel Jacket.

Fisher Capital Management: Market Performance

Market Performance: Fisher Capital Management - Stocks closed lower in October for the first time in seven months, as investors questioned whether the huge rally off the March lows had exceeded the economy’s ability to generate growth in output and profits.

Indeed, equities capped off a volatile month (the Dow Jones

Industrial Average (DJIA) experienced triple-digit moves in ten

trading sessions!) with a volatile week, as the S&P 500 Index

experienced its worst five-day span since early July.

For the month, the DJIA eked out a fractional gain, while all the

other major equity market indices suffered losses. Small cap

stocks, which had been among the performance leaders of the

seven-month rally, experienced the worst hit, with the Russell

2000® Index falling by almost 7%. In another sign that the

market may be growing skeptical of the “higher risk, higher

reward” strategy, the NASDAQ Composite Index, dominated by

technology holdings, declined 3.6% for the month.

Market Performance: Fisher Capital Management - Yet perhaps emblematic of the struggles experienced in the

markets recently, growth stocks outperformed value in October,

contradicting the idea that the pursuit of “risk” had become out

of favor over the past several weeks. Moreover, the weakness in

U.S. markets failed to extend beyond our borders last month, as

developed markets (MSCI EAFE) experienced just a fractional

loss, while the emerging markets (MSCI EM) managed to rise

by up to 1%, adding to their impressive year-to-date (YTD)

returns.

From a sector perspective, two of the three leading performers

off the March lows (financials and materials) declined by the

largest amounts in October, as investors appeared to lock in

gains of approximately 150% for the financials sector and 75%

for the materials sector. Despite the weakness in the technologyladen

NASDAQ Composite last month, the higher-quality and

larger-cap tech names comprising the S&P 500 Index’s

information technology sector simply dropped fractionally. Rising

oil prices pushed the energy sector higher by 3%, and the

“defensive trade” was still evident within the consumer staples

sector, which held on for a 1% gain.

Market Performance: Fisher Capital Management - In other asset classes, fixed-income was mixed last month. The

yield on the 10-year Treasury note backed up by seven basis

points, as traders likely moved funds elsewhere as the Federal

Reserve concluded its $300 billion Treasury purchase program.

The dollar continued to weaken, hovering near 14-month lows,

which helped drive up the prices for oil, gold, and most

commodities.

Fisher Capital Management, Korea is a leading global financial institution holding extensive relationships with financial institutions, institutional investors and corporations across the world.

As a full service company Fisher Capital Management, Korea provides a full range of investment banking services including advanced risk management, corporate strategy and structure, plus raising capital through debt and equity markets. With this as our backbone we continue to provide a client service second to none.

New Options in Guided Boring, Fisher Capital Equipment Management Update

The Akkerman team, continually committed to increasing the

versatility of our products, recently launched several new

components for our GBM line of equipment.

Fisher Capital Equipment leasing news update from different  suppliers. Fisher Capital Equipment Management leasing gives you fresh events and updates on Construction Machineries, Suppliers Directory and Others to keep away from scam from Unsolicited, "Pre-Qualified credit line" mass mailings

The Powered Reaming Head (PRH) upsizing kit for its Guided

Boring Machine (GBM) system was released. This GBM accessory

allows owners to bore multiple pipe diameters with just one

set of 11” OD (279 mm) thrust casings and augers. The base

14” (356 mm) OD PRH unit features 16” (406 mm) and 20” (508

mm) OD increaser kits and corresponding pipe adapter rings to

accommodate up to 20” (508 mm) OD pipe. All PRH components

rest on a customized rack for ease of transport and orderliness

on the job site. The PRH front and rear sections can be launched

separately to accommodate minimal diameter shafts. The PRH

kit performs well with all Akkerman power packs and jacking

frames.

The P150Q Power Pack provides hydraulic power to the GBM

jacking frame and Powered Cutter Head for smooth and efficient

operation. The P150Q houses a 154 HP (115 kw) diesel engine.

Its three load-sensing variable displacement axial piston pumps

independently operate the jacking, rotation and PCH. It also

features a 100 gal (378 L) fuel tank and 50 gal (189 L) hydraulic

oil reservoir.

The Jetting and Lubrication pump underwent a design

reconfiguration for enhanced compactness. It features

independent hydrostatic flow connections, bulkhead

connections for pressure and return lines and an easily

serviceable open/close valve on the tank outlet. Customers may choose the 3,000 rpm, 30 HP (7 kW)

diesel engine or 1,750 rpm, 30 HP (7 kW) electric motor. Each 325 gal (1,230 L) tank is positioned sideby-

side on a pallet-like base. The 2,500 psi (17,237 kPa) high-pressure jetting pump assists the GBM

system’s excavation process by lubricating cutter bits and spoils. An in-line suction filter protects the

pump from contaminants in the water. The 150 maximum psi (1,034 kPa) lubrication pump flows at 4

gpm (15 L/min) and features an agitator which mixes the lubrication quickly and keeps it consistent

throughout production.

For more information on these and other GBM products, please contact our friendly sales staff or an

international representative.

Akkerman Inc. is positioned for sales in new markets with recently established representation

in the Middle East, India, Russia and Singapore. Agreements with Trenchers Land Digging

& Filling LLC, based in the United Arab Emirates, Asia Contech Ltd. of India, Intertorg Russia and

ICE Far East in Singapore pioneer exciting prospects for Akkerman Inc. worldwide.

Trenchers Land Digging & Filling LLC of Dubai recently facilitated the sale of a complete Guided

Boring Machine (GBM) system for a Kuwait contractor. This sale denotes the first GBM system

sold in the Middle East as well as the most powerful pilot tube microtunneling configuration

available. The 4812A jacking frame with 200 tons of thrust, 275T power pack, Powered Cutter

Head and Jetting and Lubrication pump will install DN 300-1,000 mm pipes for drives up to

150 m long.

Asia Contech Ltd. of New Delhi, providing sales and service of Akkerman equipment in India,

also represents trenchless companies American Augers, ASTEC and Trencor. ICE Far East

of Singapore, a south east Asia office for International Construction Equipment (ICE) will

represent Akkerman in this region. Intertorg of Moscow, a US based company with expertise

in the Russian trenchless market, has been a longtime dealer for Ditch Witch and previously

represented Lovat, Soltau and MTS equipment.

Akkerman welcomes these organizations into its community of sales representatives. Tunnel

Engineering Services in the United Kingdom, Ditch Witch of Australia, Virtual Engineering of

Columbia and the Alinea Group of Mexico have been agents of Akkerman for many years.

Additional representatives have been appointed in Egypt, Turkey, Bulgaria, Poland, Brazil, Italy

and Pakistan. For a full listing of equipment representatives, please review the “Contact Us”

page on the Akkerman website.

Fisher Capital Management Corporate News

Fisher Capital Management Corporate News:Ben Bernanke Warning Over US Debt Crisis

Posted by fcmcorp on June 18, 2011 in company news, corporate news, finance, investment, latest headlines,world news with No Comments

1 Vote

http://www.rte.ie/news/2011/0615/us.html

Updated: 17:18, Wednesday, 15 June 2011

The head of the US central bank has said America’s creditworthiness is at risk if the country’s borrowing limit is not raised.

Federal Reserve Chairman Ben Bernanke has urged Republican members of Congress to vote in favour of lifting the borrowing level from its current $14.3 trillion threshold.

‘I fully understand the desire to use the debt limit deadline to force some necessary and difficult fiscal policy adjustments, but the debt limit is the wrong tool for that important job,’ Mr Bernanke said in a speech in Washington.

The Fed Chair said in the absence of a quick resolution to the battle over the debt limit, the US could lose its prized AAA credit rating, while the dollar’s special status as a reserve currency might be damaged.

Mr Bernanke said that putting in place sustainable fiscal policies was a ‘daunting’ challenge ‘crucial for our nation.’

‘History makes clear that failure to put our fiscal house in order will erode the vitality of our economy, reduce the standard of living in the United States, and increase the risk of economic and financial instability.’

However, he said, ‘In debating critical fiscal issues, we should avoid unnecessary actions or threats that risk shaking the confidence of investors in the ability and willingness of the US government to pay its bills.’

US President Barack Obama yesterday warned of a new economic meltdown if the ceiling is not lifted in time.

‘We could actually have a reprise of a financial crisis, if we play this too close to the line,’ Mr Obama told NBC television.

‘We’re going (to) be working hard over the next month. My expectation is we’re going (to) get it done in a sensible way. That’s what the American people expect.’

If agreement is not reached by a deadline in early August, the US could start defaulting on its obligations.

Treasury Secretary Timothy Geithner has warned that failure to raise the borrowing cap by 2 August will trigger turmoil in the bond markets and economic ‘catastrophe’.

He met with Republican and Democratic politicians to try to find an exit to the impasse.

Fisher Capital Management Investment

http://www.thenational.ae/business/markets/warning-of-unrest-as-trouble-grows-in-india

Anuj Chopra

Jun 17, 2011

MUMBAI // Not so long ago, India was on the verge of double-digit growth. But ambitions of becoming an economic superpower are on hold as fears of a slowdown loom.

Economic troubles:Storm clouds gather across the world.

Last Updated: June 17, 2011

Billions wiped off global stocks Trading screens across the world flash red as sharp sell-offs take place everywhere. Read article

In the Gulf UAE debt sales set to boost the Middle East Read article

In Europe Spectre of Greek default loomsRead article

In Japan Disasters look set to leave country stuck at zero Read article

In the US Politicians in economic theatre of battle Read article

In China Curbing inflation is a balancing actRead article

BACK TO BUSINESS

The economy expanded at 7.8 per cent in the first quarter of the year – the slowest pace in five quarters.

Yesterday, the Reserve Bank of India (RBI) raised key interest rates for the 10th time since March last year, despite warnings by analysts that high interest rates could dent the main drivers of economic growth: domestic consumption and investment.

Signs of trouble are already visible. Last year, foreign direct investment in India fell 32 per cent from 2009 to US$24 billion (Dh88.15bn). The rate of investments in India plunged to 0.4 per cent in the January to March period compared with 20 per cent in the same period last year. Industrial production slowed to 6.3 per cent in April from 8.8 per cent in March.

D Subbarao, the governor of the RBI, said the interest rate rises were warranted to deal with rising inflation, which Credit Suisse bank called India’s “horror show”.

Inflation increased to 9.06 per cent in May compared with 8.66 per cent in April. But policy analysts say raising interest rates incessantly is akin to pressing the brake pedal and the accelerator at the same time.

“The slowdown has been due to a near collapse in the investment cycle,” says Rohini Malkani, an economist with the investment bank Citi India. “Higher rates could take a toll on investments and consumption.”

Aggressive monetary tightening threatens to destabilise the growth of the industrial sector, which the country heavily relies on to absorb the millions of people entering the workforce every year. Such action could spark widespread social unrest, Udayan Bose, the chairman of India’s employer association’s corporate finance committee, warned in a letter this week to Mr Subbarao.

business@thenational.ae