2008 in Review
I hadn’t travelled much this year, except for the regular business trips to Indonesia and an offsite trip to Hong Kong in Oct 08. Very little activity has took place during most of the year except for the occassional odd events. This about sums up my year in 2008.
In my 3 years with the bank, I’ve seen 2 major restructuring exercises - the first in June 06, the second in Nov 08. I had 3 colleagues in our department of 50 which made up a total of 900 staffs that were retrenched as part of a cost-cutting measure. Several colleagues which were not affected have chosen to resigned. On a separate note, I’ve taken flak from my superiors for granting an interview to the media on the banking crisis. While generally the mood in the office and in industry circles wasn’t good, things are starting to look cautiously better. Analysts are comparing the present financial crisis to the one in 1907.
With the uncertain market conditions and flight of hot money out of high yielding currencies into the Dollar, most clients are also sitting on paper FX losses made worse with the easing of monetary policy worldwide. This coupled with lower volatility and higher spreads on our treasury business leads to lower business revenue for our unit. For much of 2009, although things are likely to continue to remain challenging in our industry, there has never been a better time to develop strength in adversity.
Financially I’m also in better shape than when I finished the year 2007 when I took a hit with my index speculation. I’ve learnt to be better at risk management and the importance of transparency when it comes to dealing in complex financial instruments. I’ve learnt to apply theories in the marketplace, and be patient while waiting for the results.
I’ve also started studying for my CFA 1 paper next year though I’m certainly finding it an ever-present challenge to focus on the books.
In year 2009 I would like to get back to exercising more often. I was running and swimming regularly before the start of rainy season. Now I’d like to resume at least one out of two activities with the monsoon season almost behind us.
I was involved in a few relationships in year 2008. An ‘almost’ one with someone I met at a friend’s wedding in Jakarta where she was the bride’s maid of honor. The details are sketchy, it was my fault and I ended it in the worst way possible, by cutting off all contact with her. I got too friendly with a Malaysian-Chinese I met at a saloon afterwards. We ended it soon. I’ve danced with someone I met at an Indonesian business association dinner in Singapore who was tutoring the chairman in Mandarin. One thing led to another. I ended it badly. During my trip to Hong Kong, I got too close with a Hong Konger whose boyfriend went to the mainland for a short photography trip. She broke it off with her bf once he returned. She shipped me gifts for Christmas and is planning on getting me a Valentine’s day present. I wasn’t yet sure of the best way to end this.
I’d like to think that each of us grew through the experience. The past made up pages in the book of life. I’ve tried to end each failed brief relationship as gently as I could. Life has so much more to offer.
Everything has its time. I’m currently going out with a girl from Qingdao, at this time Mel has come into contact with me again. Everything in its time.
Spiritually, I’ve started to take baby steps again. Geraldine introduced me into the Wednesday prayer session established in the office 2 years ago by a group of Christians colleagues. I found the peace, serenity and presence of God to satisfy an unfulfilled spiritual thirst in me. Since I prefer the conservatively styled Presbyterian church in Orchard Road I went with her, I was delighted to have found one in my neighbourhood. I’m looking to do more Bible studies and prayer sessions in year 2009.
The year 2008 was also the year that I lost my maternal grandmother to cancer. It was a long struggle and I’m glad she rests peacefully now. In her absence I felt freedom that previously were tangled in a web of suspicion and family politics. I suppose that happens with the passing of a matriarch. It was also marked by the birth of my cousin’s baby boy – my nephew, the first of his generation.
A new beginning in year 2009 awaits.
