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Wednesday, July 8, 2020

CapitaRetail China - Stock calls

DateAnalystCompanyLastTargetCallValuation
07/22/19PhillipCapitaRetail China1.591.66Accumulate
08/01/19OCBCCapitaRetail China1.591.45Hold
08/01/19DBS VickersCapitaRetail China1.591.8Buy
08/02/19AmfrasersCapitaRetail China1.551.68Outperform
08/26/19PhillipCapitaRetail China1.541.66Accumulate
09/24/19PhillipCapitaRetail China1.531.66Accumulate
10/18/19PhillipCapitaRetail China1.531.66Accumulate
10/29/19DBS VickersCapitaRetail China1.551.8Buy
11/01/19AmfrasersCapitaRetail China1.521.74Outperform
11/01/19OCBCCapitaRetail China1.521.62Buy
11/25/19PhillipCapitaRetail China1.551.66Accumulate
02/10/20OCBCCapitaRetail China1.521.57Hold
02/10/20DBS VickersCapitaRetail China1.521.75Buy
02/18/20AmfrasersCapitaRetail China1.511.66Outperform
03/10/20AmfrasersCapitaRetail China1.371.66Outperform
03/13/20PhillipCapitaRetail China1.31.66Accumulate
04/14/20DBS VickersCapitaRetail China1.321.55Buy
06/03/20DBS VickersCapitaRetail China1.381.55Buy

Capitamall Trust - Stock calls

DateAnalystCompanyLastTargetCallValuation
07/04/19DMG & PartnersCapitamall Trust2.712.2Neutral
07/04/19DBS VickersCapitamall Trust2.712.95Buy
07/22/19PhillipCapitamall Trust2.642.36Neutral
07/23/19Lim & TanCapitamall Trust2.60Hold
07/24/19UOB Kay HianCapitamall Trust2.642.65HoldDDM, Buy @ $2.42
07/24/19OCBCCapitamall Trust2.642.51Hold
07/24/19Kim EngCapitamall Trust2.642.6HoldDDM
07/24/19DMG & PartnersCapitamall Trust2.642.38NeutralDDM
07/24/19CIMBCapitamall Trust2.642.6HoldDDM
07/25/19PhillipCapitamall Trust2.622.68NeutralDDM, PB1.09x
08/26/19PhillipCapitamall Trust2.642.68Neutral
09/24/19PhillipCapitamall Trust2.622.68Neutral
10/18/19PhillipCapitamall Trust2.632.68NeutralDDM
10/22/19UOB Kay HianCapitamall Trust2.652.88BuyDDM, PB1.35x
10/22/19OCBCCapitamall Trust2.652.73Hold
10/22/19DMG & PartnersCapitamall Trust2.652.38NeutralDDM
10/22/19DBS VickersCapitamall Trust2.652.85Buy
10/23/19CIMBCapitamall Trust2.622.64HoldDDM
11/25/19PhillipCapitamall Trust2.492.68Neutral
12/10/19DMG & PartnersCapitamall Trust2.522.38NeutralDDM
01/23/20UOB Kay HianCapitamall Trust2.592.88Buy
01/24/20PhillipCapitamall Trust2.572.7AccumulateDDM
01/24/20DBS VickersCapitamall Trust2.572.95Buy
03/13/20PhillipCapitamall Trust2.252.7Accumulate
03/17/20Kim EngCapitamall Trust22.7Buy
03/27/20UOB Kay HianCapitamall Trust1.782.72BuyDDM
03/31/20CIMBCapitamall Trust1.752.75Add
04/02/20DBS VickersCapitamall Trust1.731.75Hold
04/02/20Kim EngCapitamall Trust1.732.7Buy
04/08/20OCBCCapitamall Trust1.742.12Hold
04/15/20CIMBCapitamall Trust1.812.24Add
04/23/20DMG & PartnersCapitamall Trust1.732.38Neutral
05/04/20Kim EngCapitamall Trust1.892.4BuyDDM
05/04/20DMG & PartnersCapitamall Trust1.892.03NeutralDDM
05/06/20PhillipCapitamall Trust1.822.22BuyDDM
05/27/20UOB Kay HianCapitamall Trust1.882.6Buy
05/29/20DBS VickersCapitamall Trust1.932.15BuyPB1x
06/03/20DBS VickersCapitamall Trust2.132.15Buy
06/08/20UOB Kay HianCapitamall Trust2.122.6Buy
06/23/20DMG & PartnersCapitamall Trust22.03Neutral
07/02/20UOB Kay HianCapitamall Trust22.6Buy
07/03/20DBS VickersCapitamall Trust2.032.4BuyDCF

Capitaland - Stock calls

DateAnalystCompanyLastTargetCallValuation
07/05/19DBS VickersCapitaland3.694Buy
07/15/19PhillipCapitaland3.694Accumulate
07/15/19CIMBCapitaland3.694.15AddRNAV (35% discount)
07/15/19OCBCCapitaland3.694.04Buy
08/07/19OCBCCapitaland3.484.04Buy
08/14/19MacquarieCapitaland3.424.15Outperform
08/19/19PhillipCapitaland3.44.2BuyPB0.75x FY19
08/20/19CIMBCapitaland3.464.15AddRNAV (35% discount)
08/22/19DIRCapitaland3.54.1BuyRNAV (20% discount)
09/05/19Lim & TanCapitaland3.490Accumulate
09/06/19DBS VickersCapitaland3.514Buy
10/11/19PhillipCapitaland3.514.2Buy
10/23/19UOB Kay HianCapitaland3.623.8HoldBuy @ $3.30
11/06/19DMG & PartnersCapitaland3.694.2BuyRNAV (20% discount)
11/07/19OCBCCapitaland3.664.42BuyRNAV (15% discount)
11/25/19CIMBCapitaland3.664.15Add
12/02/19PhillipCapitaland3.684.2BuyRNAV (20% discount)
12/02/19DMG & PartnersCapitaland3.684.2BuyRNAV (20% discount)
12/02/19UOB Kay HianCapitaland3.683.8HoldRNAV (20% discount)
12/18/19Lim & TanCapitaland3.670Hold
01/02/20DBS VickersCapitaland3.754.5BuyRNAV (18% discount)
01/08/20DMG & PartnersCapitaland3.844.2Buy
01/29/20Lim & TanCapitaland3.70Hold
02/25/20MacquarieCapitaland3.674.15Outperform
02/26/20OCBCCapitaland3.724.42BuyRNAV (15% discount)
02/27/20DMG & PartnersCapitaland3.674.2BuyRNAV (20% discount)
02/27/20OCBCCapitaland3.674.24BuyRNAV (20% discount)
02/27/20CIMBCapitaland3.674.25Add
02/28/20UOB Kay HianCapitaland3.643.7HoldBuy @ $3.50
02/28/20DBS VickersCapitaland3.644.5BuyRNAV (20% discount)
03/04/20PhillipCapitaland3.584.2BuyRNAV (20% discount)
03/30/20DMG & PartnersCapitaland2.954.2Buy
04/07/20DMG & PartnersCapitaland2.744.2Buy
05/05/20DMG & PartnersCapitaland2.94Buy
05/05/20CIMBCapitaland2.93.52AddRNAV (45% discount)
05/05/20UOB Kay HianCapitaland2.93.2HoldRNAV (30% discount), Buy @ $2.70
05/11/20PhillipCapitaland2.933.94BuyRNAV (20% discount)
06/02/20DMG & PartnersCapitaland2.974Buy
07/06/20Lim & TanCapitaland3.040Hold
07/08/20MacquarieCapitaland2.93.95Outperform

Stock calls for 8 July 2020

DateAnalystCompanyLastTargetCallValuation
07/08/20CIMBARA Logistics0.570.713Add
07/08/20Lim & TanBoustead0.6450Accumlate
07/08/20MacquarieCapitaland2.93.95Outperform
07/08/20UOB Kay HianOCBC9.2411.58Buy
07/08/20AmfrasersSingapore Medical0.240.34outperformPER11x FY21

IMF is warning about the debt crisis now!

https://www.reuters.com/article/us-health-coronavirus-debt/many-countries-may-need-debt-restructuring-after-pandemic-fallout-imf-chief-economist-idUSKBN2482R3

It makes sense to restructure the debts in many countries because high debts are unsustainable over the long term.

The USA has about US$80T total debts now with a GDP of US$21T.  Therefore, the ratio of debt to GDP is 4:1.

http://sg-stock.blogspot.com/2020/04/the-us-economy-will-be-in-deep-troubles.html

http://sg-stock.blogspot.com/2020/05/the-us-economy-will-be-in-deep-troubles.html

This means that the USA is using US$4 debt to generate a US$1 GDP which is unsustainable in the long run.


Trump's aides are desperate in fighting for their jobs.

https://sg.finance.yahoo.com/news/trump-aides-weighed-proposals-undermine-022404563.html

There is no way for a country to interfere in another country's currency peg because it is a government's monetary policy.  In other words, only the HK government can peg or de-peg from the USD because the HK government can buy and sell the USD as it deems fit.  Furthermore, HK has the support of China which has the largest foreign reserves.

How do you stop another state from buying or selling your currency? It's almost impossible especially since that state is part of China.

Trump's aides are really dumb because they cannot ban HK from using USD since HK is part of China unless they want to ban China from using USD.  Banning China from using USD will cause USD to depreciate beyond the US's control and hyperinflation will happen overnight.

This is why I'm not concerned about this HK-USD peg issue because the US has no control over this.

Tuesday, July 7, 2020

CapitaCommercial - Stock calls

DateAnalystCompanyLastTargetCallValuation
07/04/19DMG & PartnersCapitaCommercial2.231.86Neutral
07/17/19OCBCCapitaCommercial2.181.88Sell
07/17/19Lim & TanCapitaCommercial2.180Hold
07/18/19UOB Kay HianCapitaCommercial2.172.17HoldDDM, Buy @ $1.98
07/18/19DBS VickersCapitaCommercial2.172.4BuyDCF
07/18/19Kim EngCapitaCommercial2.171.8Hold
07/18/19OCBCCapitaCommercial2.171.92Sell
07/18/19CIMBCapitaCommercial2.172.25Add
07/19/19DMG & PartnersCapitaCommercial2.151.98NeutralDDM
07/22/19PhillipCapitaCommercial2.152.18NeutralDDM
08/26/19PhillipCapitaCommercial2.072.18Neutral
08/27/19UOB Kay HianCapitaCommercial2.082.04HoldBuy @ $1.85
08/30/19DBS VickersCapitaCommercial2.132.3BuyDCF
09/24/19PhillipCapitaCommercial2.112.18Neutral
09/24/19JefferiesCapitaCommercial2.112.35Buy
10/04/19DBS VickersCapitaCommercial2.042.3Buy
10/18/19PhillipCapitaCommercial2.052.18Neutral
10/24/19OCBCCapitaCommercial2.041.92Hold
10/24/19UOB Kay HianCapitaCommercial2.042.3Buy
11/25/19PhillipCapitaCommercial1.992.18Neutral
12/04/19DBS VickersCapitaCommercial2.012.3Buy
12/10/19DMG & PartnersCapitaCommercial21.98Neutral
01/22/20JefferiesCapitaCommercial2.132.3Buy
01/23/20UOB Kay HianCapitaCommercial2.132.3Buy
01/24/20DBS VickersCapitaCommercial2.122.3Buy
02/11/20DIRCapitaCommercial2.042.29Outperform
03/13/20PhillipCapitaCommercial1.832.18Neutral
04/22/20DMG & PartnersCapitaCommercial1.51.7NeutralDDM
04/30/20UOB Kay HianCapitaCommercial1.571.68BuyDDM
04/30/20DBS VickersCapitaCommercial1.571.55HoldDCF
05/04/20Lim & TanCapitaCommercial1.610Hold
05/05/20PhillipCapitaCommercial1.541.736AccumulateDDM
06/08/20DBS VickersCapitaCommercial1.821.95BuyDCF
06/23/20DMG & PartnersCapitaCommercial1.731.7Neutral
07/03/20DBS VickersCapitaCommercial1.751.95Buy

Bumitama - Stock calls

DateAnalystCompanyLastTargetCallValuation
07/02/19Kim EngBumitama0.631.01Buy
07/16/19DBS VickersBumitama0.6050.75BuyDCF
08/14/19DMG & PartnersBumitama0.60.54NeutralPER14x FY20
08/15/19DBS VickersBumitama0.590.69BuyDCF, PER18.5x FY19
08/28/19Kim EngBumitama0.5750.8Buy
09/30/19DMG & PartnersBumitama0.580.6NeutralPER16x FY20
11/12/19DMG & PartnersBumitama0.5950.69BuyPER16x FY20
11/13/19DBS VickersBumitama0.620.72BuyDCF
11/13/19Kim EngBumitama0.620.8BuyPER13x FY20
11/22/19UOB Kay HianBumitama0.70.75Buy
12/09/19DMG & PartnersBumitama0.730.8BuyPER18x FY20
12/10/19DBS VickersBumitama0.7250.81BuyDCF
01/20/20DMG & PartnersBumitama0.7410.95BuyPER16x FY20
02/18/20DMG & PartnersBumitama0.6850.85BuyPER18x FY20
02/19/20UOB Kay HianBumitama0.680.85Buy
02/19/20DBS VickersBumitama0.680.81BuyDCF
02/19/20Kim EngBumitama0.680.78Buy
03/24/20DMG & PartnersBumitama0.370.38NeutralSum of parts, PER12x FY20
04/13/20DBS VickersBumitama0.4050.81Buy
04/27/20Kim EngBumitama0.40.78BuyPER14.5x FY20
05/13/20DMG & PartnersBumitama0.4350.43NeutralPER12x FY20
05/13/20DBS VickersBumitama0.4350.66BuyDCF
05/13/20Kim EngBumitama0.4350.78BuyPER14.5x FY20
06/26/20DMG & PartnersBumitama0.440.48NeutralPER12x FY21

Breadtalk - Stock calls

DateAnalystCompanyLastTargetCallValuation
07/02/19DMG & PartnersBreadtalk0.750.81Neutral
08/02/19DBS VickersBreadtalk0.7150.77HoldSum of parts
08/05/19DMG & PartnersBreadtalk0.690.71NeutralSum of parts
09/03/19DMG & PartnersBreadtalk0.6650.71Neutral
09/04/19DMG & PartnersBreadtalk0.650.67NeutralSum of parts, EV/Ebitda7.64x
09/06/19DBS VickersBreadtalk0.6450.61HoldSum of parts
12/11/19DMG & PartnersBreadtalk0.6250.67Neutral
02/25/20DBS VickersBreadtalk0.6450.49Accept offeroffer @ $0.77, Sum of parts
02/25/20Lim & TanBreadtalk0.6450Accept offeroffer @ $0.77
02/26/20DMG & PartnersBreadtalk0.6450.77Accept offeroffer @ $0.77
04/22/20DBS VickersBreadtalk0.7650.49Accept offeroffer @ $0.77

Stock calls for 7 July 2020

DateAnalystCompanyLastTargetCallValuation
07/07/20Lim & TanBoustead Projects0.730Hold
07/07/20CIMBGenting0.780.84Add
07/07/20DMG & PartnersKeppel Corp6.167.3Buy
07/07/20MacquarieOCBC9.3311.2OutperformPB
07/07/20UOB Kay HianRiverstone2.933.6BuyPER23.1x FY20
07/07/20DMG & PartnersSembcorp Industries1.872.11Buy
07/07/20DMG & PartnersSembcorp Marine0.471.13Buy
07/07/20AminvestmentTop Glove6.58.37Buy
07/07/20DBS VickersYanlord1.311.11Hold

It is unwise to allow international travellers to come to Singapore until a vaccine is developed.

https://sg.finance.yahoo.com/news/singapore-finds-staycations-cant-fill-us-20-billion-tourism-hole-021028278.html

Giving up US$20B tourism revenue is better than losing lives.

We are fortunate that the covid-19 strain in SG is not as lethal as in the West.

http://sg-stock.blogspot.com/2020/04/what-are-scientific-analyses-for-origin.html

If we allow international travellers to come to SG, we risk importing the more lethal strain since the virus has become airborne now.

https://www.channelnewsasia.com/news/world/covid-19-coronavirus-airborne-who-12904090


1997 Asian financial crisis is replaying in the Middle East now. Here's why! - Part 3

http://sg-stock.blogspot.com/2019/03/1997-asian-financial-crisis-is.html

Turkey has taken action against US banks to prevent a financial crisis from happening.  Maybe the Turkey government has read my posting....Heehee!


Monday, July 6, 2020

BRC Asia - Stock calls

DateAnalystCompanyLastTargetCallValuation
07/31/19UOB Kay HianBRC Asia1.371.75BuyPER11.5x FY20
08/08/19UOB Kay HianBRC Asia1.311.75BuyPER11.5x FY20
10/01/19UOB Kay HianBRC Asia1.341.75Buy
11/18/19CIMBBRC Asia1.471.9Add
11/18/19Lim & TanBRC Asia1.471.8BuyDCF
11/26/19UOB Kay HianBRC Asia1.491.75BuyPER11.5x FY20
01/09/20CIMBBRC Asia1.541.9Add
01/28/20Lim & TanBRC Asia1.690Buy on weakness
03/05/20Lim & TanBRC Asia1.660Buy on weakness
03/25/20UOB Kay HianBRC Asia1.091.65Buy
04/06/20Lim & TanBRC Asia1.040Hold
05/22/20UOB Kay HianBRC Asia1.151.52Buy

Boustead Projects - Stock calls

DateAnalystCompanyLastTargetCallValuation
01/16/20UOB Kay HianBoustead Projects0.9251.18BuyRNAV (40% discount)

Boustead - Stock calls

DateAnalystCompanyLastTargetCallValuation
09/23/19CIMBBoustead0.7351AddSum of parts
11/25/19CIMBBoustead0.7651Add
01/03/20CIMBBoustead0.761AddSum of parts
01/16/20UOB Kay HianBoustead0.780.92BuySum of parts