The new India-Singapore naval pact is a big mistake for SG.

https://thediplomat.com/2017/11/why-the-new-india-singapore-naval-pact-matters/

Singapore is making a big mistake to bring in more foreign powers into ASEAN.  There is a saying, "Too many cooks will spoil the broth" which still holds some validity today.

India has been renowned to be anti-China and will definitely sow discords between ASEAN members and China.  When that happens, China will put the blame on SG.  India has an ulterior motive to contain China through the Strait of Malacca because SG will allow Indian navy to berth at the Changi Naval base.  Therefore, if there is a war against China, India can assist the USA to control the Strait of Malacca through SG.

However, this is just a wishful thinking by India because of the emergence of the new Arctic sea lane.

http://sg-stock.blogspot.sg/2017/11/thailand-has-just-lost-many-golden.html

When SG brought USA into ASEAN, the USA also brought along other foreign powers such as Australia, Japan and UK into South China Sea and stirred a lot of troubles in South China Sea.  It was the Philippines which stopped the USA from creating more troubles in South China Sea.

http://sg-stock.blogspot.sg/2016/10/philippines-has-finally-realized-who-is.html

http://sg-stock.blogspot.sg/2016/10/duterte-knows-only-china-is-sincere-in.html

http://sg-stock.blogspot.sg/2017/11/trump-offered-to-mediate-on-south-china.html

Do not be lured into thinking that Sino-SG relationship is good because SG and China have just reaffirmed strong bilateral economic ties.  China is watching what SG is doing rather than what SG is saying because actions speak louder than words.

http://www.channelnewsasia.com/news/business/singapore-china-reaffirm-strong-bilateral-economic-ties-9470164

Health alert for seafood consumption (Fish, Prawn, Seashell, etc)

http://www.independent.co.uk/environment/plastic-microparticles-fish-flesh-eaten-humans-food-chain-mackerel-anchovy-mullet-a7860726.html

The sea is heavily polluted now with toxins because humans dump a lot of rubbish and waste in the sea.

Plastic microparticles are consumed by planktons which are eaten by small fishes and then transferred to big fishes.  In the end, we're the ones shoving the plastic microparticles down our throats when we consume large amounts of seafood.

Scientists also found that plastic microparticles are present in fowls.  Therefore, do not think that land animals are safer than sea animals.  We are slowly killing ourselves by polluting the environment and the future generations will suffer the most.

Look like we have to become vegetarians if we want to live healthier. Sigh!

China stages drills after US & SK joint exercise.

https://sg.news.yahoo.com/china-stages-drills-warning-us-091301159.html

This is a crystal clear message to the US & SK that China will participate in the war if the Peninsular war breaks out especially when NK is under attack unless NK is the first to launch an attack.

Russia will also participate in the Peninsular war as it has a vested interest because it won't allow USA to take control of NK since Russia is sharing a border with NK.

Therefore, the frequent joint military exercises won't scare NK at all as NK knows that China & Russia will get involved in the war.  This war won't be as simple as the US thought.

City Developments - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/16	UOB Kay Hian	City Developments	7.65	10.86	Buy
01/08/16	DBS Vickers	City Developments	7.42	10.26	Buy	RNAV (20% discount)
01/14/16	Credit Suisse	City Developments	7.55	12	Outperform
01/14/16	Kim Eng	City Developments	7.55	9.33	Buy	RNAV (30% discount), PB1x
01/18/16	CIMB	City Developments	7.29	10.3	Add
01/26/16	Deutsche	City Developments	6.76	9.25	Buy
02/16/16	Credit Suisse	City Developments	6.88	12	Outperform
02/25/16	Deutsche	City Developments	7.04	9.25	Buy	RNAV (30% discount)
02/25/16	Lim & Tan	City Developments	7.04	9.7	Buy	Bloomberg consensus
02/26/16	CIMB	City Developments	7.09	10.32	Add	RNAV (25% discount)
02/26/16	DBS Vickers	City Developments	7.09	10.26	Buy	RNAV (20% discount)
02/26/16	DMG & Partners	City Developments	7.09	9.22	Buy
02/26/16	DMG & Partners	City Developments	7.09	9.22	Buy	RNAV (30% discount)
02/26/16	Kim Eng	City Developments	7.09	9.33	Buy	RNAV (20% discount)
02/26/16	UOB Kay Hian	City Developments	7.09	10.86	Buy	RNAV (20% discount)
02/29/16	OCBC	City Developments	7.2	8.67	Buy
03/08/16	Deutsche	City Developments	7.7	9	Buy	RNAV (41.6 discount)
03/10/16	Kim Eng	City Developments	7.51	9.04	Buy	RNAV (20% discount)
03/15/16	CIMB	City Developments	7.58	10.32	Add
03/16/16	DBS Vickers	City Developments	7.5	10.26	Buy
03/28/16	DMG & Partners	City Developments	7.75	9.22	Buy
03/28/16	UOB Kay Hian	City Developments	7.75	10.86	Buy	RNAV (20% discount)
04/04/16	Kim Eng	City Developments	8.15	9.04	Buy
04/18/16	CIMB	City Developments	8.82	10.32	Add
04/18/16	DBS Vickers	City Developments	8.82	10.26	Buy
04/20/16	Kim Eng	City Developments	8.85	9.84	Buy	RNAV (20% discount)
04/22/16	UOB Kay Hian	City Developments	9.06	10.86	Buy
04/25/16	Credit Suisse	City Developments	8.97	12	Outperform
04/26/16	OCBC	City Developments	8.71	9.89	Buy
05/04/16	DIR	City Developments	8.21	11.22	Buy	RNAV (20% discount)
05/12/16	CIMB	City Developments	8.04	10.32	Add	RNAV (25% discount)
05/12/16	Credit Suisse	City Developments	8.04	11.7	Buy	RNAV (20% discount)
05/12/16	DBS Vickers	City Developments	8.04	9.6	Buy	RNAV (20% discount)
05/12/16	DMG & Partners	City Developments	8.04	9.35	Buy
05/12/16	Kim Eng	City Developments	8.04	9.82	Buy
05/12/16	OCBC	City Developments	8.04	9.89	Buy
05/12/16	UOB Kay Hian	City Developments	8.04	10.86	Buy	RNAV (20% discount)
05/30/16	DIR	City Developments	8.35	11.17	Buy	Sum of parts (20% discount)
05/30/16	Lim & Tan	City Developments	8.35	0	Buy
05/30/16	UBS	City Developments	8.35	10.05	Buy
06/03/16	DBS Vickers	City Developments	8.45	9.6	Buy
06/08/16	UOB Kay Hian	City Developments	9	10.86	Buy
06/09/16	CIMB	City Developments	8.85	10.32	Add
06/09/16	Kim Eng	City Developments	8.85	9.82	Buy
06/10/16	Deutsche	City Developments	8.8	9	Buy
06/15/16	UOB Kay Hian	City Developments	8.65	10.36	Buy
06/17/16	DBS Vickers	City Developments	8.8	9.6	Buy
06/27/16	DMG & Partners	City Developments	8.31	9.04	Buy	RNAV (30% discount)
06/30/16	Kim Eng	City Developments	8.2	8.92	Hold	RNAV (20% discount)
07/05/16	OCBC	City Developments	8.12	9.89	Buy
07/07/16	Credit Suisse	City Developments	8.11	11.7	Outperform
07/07/16	DIR	City Developments	8.11	11.21	Buy	Sum of parts (20% discount)
07/07/16	Kim Eng	City Developments	8.11	9.17	Hold	RNAV (20% discount)
07/07/16	UOB Kay Hian	City Developments	8.11	10.36	Buy
07/08/16	CIMB	City Developments	8.04	10.3	Add	RNAV (25% discount)
07/12/16	Deutsche	City Developments	8.14	9.3	Buy
08/01/16	DIR	City Developments	8.51	10.93	Buy	RNAV (20% discount)
08/11/16	Lim & Tan	City Developments	8.89	0	Buy
08/11/16	JP Morgan	City Developments	8.89	10.8	Overweight	Up from $9.90
08/12/16	CIMB	City Developments	8.87	10.38	Add	RNAV (25% discount)
08/12/16	Credit Suisse	City Developments	8.87	11.5	Outperform
08/12/16	DIR	City Developments	8.87	10.82	Buy	RNAV (20% discount)
08/12/16	DMG & Partners	City Developments	8.87	9.04	Take Profit
08/12/16	UOB Kay Hian	City Developments	8.87	10.36	Buy	RNAV (20% discount)
08/15/16	DBS Vickers	City Developments	8.8	9.9	Buy	RNAV (20% discount)
09/02/16	Credit Suisse	City Developments	8.52	11.5	Outperform
09/02/16	Deutsche	City Developments	8.52	9.8	Buy
09/02/16	OCBC	City Developments	8.52	9.89	Buy
09/09/16	DIR	City Developments	9.11	10.82	Buy	RNAV (20% discount)
09/09/16	Kim Eng	City Developments	9.11	9.17	Hold
09/16/16	CIMB	City Developments	8.7	10.38	Add
09/16/16	DBS Vickers	City Developments	8.7	9.9	Buy
09/23/16	Kim Eng	City Developments	8.96	9.43	Hold	RNAV (20% discount)
10/04/16	Credit Suisse	City Developments	8.98	11.5	Outperform
10/05/16	Kim Eng	City Developments	9.04	9.43	Hold
10/18/16	CIMB	City Developments	8.78	10.38	Add
10/18/16	DBS Vickers	City Developments	8.78	9.9	Buy
10/19/16	DIR	City Developments	8.77	10.84	Buy	Sum of parts (20% discount)
10/21/16	Kim Eng	City Developments	8.78	9.42	Hold
10/24/16	CIMB	City Developments	8.77	10.4	Add	RNAV (25% discount)
10/24/16	DIR	City Developments	8.77	10.8	Buy	Sum of parts (20% discount)
10/24/16	Lim & Tan	City Developments	8.77	0	Buy
10/24/16	phillip	City Developments	8.77	9.98	Accumulate	RNAV (20% discount)
10/24/16	UOB Kay Hian	City Developments	8.77	10.36	Buy	RNAV (20% discount)
11/01/16	Credit Suisse	City Developments	8.49	11.5	Outperform
11/11/16	CIMB	City Developments	8.6	10.4	Add	RNAV (25% discount)
11/11/16	Credit Suisse	City Developments	8.6	11.3	Outperform
11/11/16	DBS Vickers	City Developments	8.6	9.9	Buy	RNAV (20% discount)
11/11/16	DIR	City Developments	8.6	10.75	Buy	RNAV (20% discount)
11/11/16	DMG & Partners	City Developments	8.6	9.36	Buy	RNAV (30% discount)
11/11/16	Kim Eng	City Developments	8.6	9.42	Hold	RNAV (20% discount)
11/11/16	OCBC	City Developments	8.6	9.89	Buy
11/11/16	phillip	City Developments	8.6	9.98	Accumulate	RNAV (20% discount)
11/11/16	UOB Kay Hian	City Developments	8.6	10.36	Buy	RNAV (20% discount)
12/01/16	UBS	City Developments	8.44	9.9	Buy
12/02/16	DMG & Partners	City Developments	8.37	9.36	Buy
12/06/16	CIMB	City Developments	8.4	10.4	Add
12/06/16	Kim Eng	City Developments	8.4	8.9	Hold
12/07/16	Credit Suisse	City Developments	8.46	11.3	Outperform
12/07/16	Deutsche	City Developments	8.46	9.8	Buy
12/08/16	Lim & Tan	City Developments	8.43	0	Buy
12/09/16	OCBC	City Developments	8.49	9.89	Buy
12/13/16	UOB Kay Hian	City Developments	8.43	10.36	Buy
12/15/16	DBS Vickers	City Developments	8.38	9.9	Buy	RNAV (20% discount)
01/03/17	DMG & Partners	City Developments	8.28	9.36	Buy	RNAV (30% discount)
01/04/17	UOB Kay Hian	City Developments	8.31	10.36	Buy
01/05/17	Credit Suisse	City Developments	8.39	11.3	Outperform
01/09/17	DBS Vickers	City Developments	8.47	9.9	Buy	RNAV (20% discount)
01/11/17	Kim Eng	City Developments	8.64	8.9	Hold
01/12/17	CIMB	City Developments	8.69	10.4	Add
01/13/17	DIR	City Developments	8.73	10.75	Buy	Sum of parts (20% discount)
01/17/17	DMG & Partners	City Developments	8.86	9.7	Buy	RNAV (30% discount)
02/03/17	DMG & Partners	City Developments	9.26	9.7	Buy	RNAV (30% discount)
02/06/17	phillip	City Developments	9.42	9.98	Accumulate
02/08/17	Credit Suisse	City Developments	9.59	11.3	Outperform
02/17/17	DBS Vickers	City Developments	9.17	9.9	Buy
02/17/17	Deutsche	City Developments	9.17	10.8	Buy
02/24/17	CIMB	City Developments	9.66	10.51	Add	RNAV (25% discount)
02/24/17	Credit Suisse	City Developments	9.66	11.6	Outperform
02/24/17	DBS Vickers	City Developments	9.66	10.52	Buy	RNAV (20% discount)
02/24/17	Deutsche	City Developments	9.66	10.8	Buy
02/24/17	DIR	City Developments	9.66	10.9	Buy
02/24/17	DMG & Partners	City Developments	9.66	10.5	Buy	RNAV (25% discount)
02/24/17	Kim Eng	City Developments	9.66	9	Hold	RNAV (25% discount)
02/24/17	Lim & Tan	City Developments	9.66	0	Buy
02/24/17	OCBC	City Developments	9.66	10.5	Buy
02/24/17	phillip	City Developments	9.66	10.4	Accumulate	RNAV (20% discount)
02/24/17	UOB Kay Hian	City Developments	9.66	10.36	Hold	RNAV (20% discount), Buy @ $8.80
03/13/17	CIMB	City Developments	10.15	10.51	Add
03/13/17	Credit Suisse	City Developments	10.15	11.6	Outperform
03/13/17	Kim Eng	City Developments	10.15	9	Hold
03/13/17	UOB Kay Hian	City Developments	10.15	11.4	Buy
03/14/17	UBS	City Developments	10.5	11.5	Buy
03/16/17	Kim Eng	City Developments	10.23	9.8	Hold
03/23/17	DMG & Partners	City Developments	10.23	11.3	Buy	RNAV (20% discount)
04/27/17	phillip	City Developments	10.72	10.4	Accumulate
04/27/17	JP Morgan	City Developments	10.72	12.3	Overweight
05/12/17	CIMB	City Developments	10.85	11.63	Add	RNAV (20% discount)
05/12/17	Credit Suisse	City Developments	10.85	11.9	Outperform
05/12/17	Deutsche	City Developments	10.85	12.7	Buy
05/12/17	DIR	City Developments	10.85	11.43	Outperform	RNAV (20% discount)
05/12/17	DMG & Partners	City Developments	10.85	11.3	Take Profit
05/12/17	Kim Eng	City Developments	10.85	9.8	Hold	RNAV (18% discount)
05/12/17	UOB Kay Hian	City Developments	10.85	11.4	Hold	RNAV (12% discount)
05/15/17	DBS Vickers	City Developments	10.58	12.63	Buy	RNAV, PB1.2x
05/15/17	OCBC	City Developments	10.58	10.5	Hold
05/15/17	phillip	City Developments	10.58	11.07	Accumulate	RNAV (15% discount)
05/29/17	Kim Eng	City Developments	10.6	12.05	Buy	RNAV (11% discount)
06/09/17	Deutsche	City Developments	10.76	12.7	Buy	Sum of parts
06/16/17	CIMB	City Developments	10.63	11.63	Add
06/16/17	Kim Eng	City Developments	10.63	12.05	Buy
07/11/17	Kim Eng	City Developments	10.82	12.05	Buy
07/18/17	JP Morgan	City Developments	10.97	12.3	Overweight
07/27/17	DBS Vickers	City Developments	11.26	12.63	Buy	RNAV (15% discount), PB1.2x
08/11/17	OCBC	City Developments	11.67	10.5	Hold
08/14/17	phillip	City Developments	11.14	12.1	Accumulate	RNAV (15% discount)
08/14/17	UOB Kay Hian	City Developments	11.14	11.4	Hold	RNAV (12% discount), Buy @ $9.7
08/14/17	OCBC	City Developments	11.14	12.39	Buy
08/14/17	CIMB	City Developments	11.14	12.54	Add	RNAV (20% discount)
08/14/17	Kim Eng	City Developments	11.14	12.05	Buy	RNAV (11% discount)
08/15/17	Credit Suisse	City Developments	11.53	12.7	Outperform
08/15/17	DBS Vickers	City Developments	11.53	12.63	Buy	RNAV, PB1.2x
09/05/17	CIMB	City Developments	11.65	12.54	Add
09/12/17	DBS Vickers	City Developments	11.58	12.63	Buy
09/18/17	UOB Kay Hian	City Developments	11.25	11.4	Hold
09/25/17	Kim Eng	City Developments	11.23	12.05	Buy
09/28/17	OCBC	City Developments	11.29	12.39	Buy
09/29/17	DIR	City Developments	11.19	12.82	Outperform	Sum of parts
10/03/17	CIMB	City Developments	11.48	12.54	Add
10/05/17	DIR	City Developments	11.42	12.85	Outperform	RNAV (10% discount)
10/06/17	Lim & Tan	City Developments	11.41	0	Buy
10/09/17	OCBC	City Developments	11.6	12.9	Buy
10/09/17	Kim Eng	City Developments	11.6	13.6	Buy	RNAV
10/10/17	phillip	City Developments	11.75	12.1	Accumulate	RNAV (15% discount)
10/11/17	DBS Vickers	City Developments	11.85	12.63	Buy	RNAV, PB1.2x
11/10/17	Kim Eng	City Developments	12.14	13.8	Buy	RNAV
11/10/17	UOB Kay Hian	City Developments	12.14	11.4	Hold	RNAV (12% discount), Buy @ $9.7
11/10/17	CIMB	City Developments	12.14	13.15	Add	RNAV (20% discount)
11/10/17	DBS Vickers	City Developments	12.14	14.03	Buy	RNAV, PB1.2x
11/13/17	phillip	City Developments	12.2	12.1	Accumulate	RNAV (15% discount), Potential upside $13.50
11/13/17	OCBC	City Developments	12.2	13.5	Buy
11/20/17	Lim & Tan	City Developments	12.11	0	Buy
11/27/17	DBS Vickers	City Developments	12.24	14.03	Buy	RNAV, PB1.2x
11/27/17	Macquarie	City Developments	12.24	14.05	Outperform
12/01/17	UOB Kay Hian	City Developments	12.11	14.03	Buy

Citic Envirotech - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/26/16	DBS Vickers	Citic Envirotech	1.385	1.6	Buy
02/17/16	DBS Vickers	Citic Envirotech	1.4	1.4	Hold
02/23/16	OCBC	Citic Envirotech	1.42	1.4	Hold
02/24/16	CIMB	Citic Envirotech	1.43	1.61	Add	DCF
02/24/16	DBS Vickers	Citic Envirotech	1.43	1.55	Hold
02/25/16	OCBC	Citic Envirotech	1.435	1.48	Hold	PER23x FY16
03/29/16	OCBC	Citic Envirotech	1.44	1.48	Hold	PER23x FY16
04/15/16	CIMB	Citic Envirotech	1.33	1.61	Add	DCF
04/20/16	DBS Vickers	Citic Envirotech	1.39	1.55	Hold
04/20/16	OCBC	Citic Envirotech	1.39	1.48	Hold	PER23x FY16
05/03/16	OCBC	Citic Envirotech	1.395	1.48	Hold	PER23x FY16
07/28/16	CIMB	Citic Envirotech	1.25	1.52	Add	DCF
10/28/16	DBS Vickers	Citic Envirotech	1.26	1.2	Hold
12/06/16	CIMB	Citic Envirotech	1.27	1.52	Add	DCF
02/14/17	DBS Vickers	Citic Envirotech	0.82	0.8	Hold	Sum of parts, Stock split 1 into 2
03/02/17	CIMB	Citic Envirotech	0.77	0.93	Add	DCF
03/02/17	DBS Vickers	Citic Envirotech	0.77	0.92	Buy	Sum of parts
03/29/17	UOB Kay Hian	Citic Envirotech	0.83	1.1	Buy	DCF
04/03/17	UOB Kay Hian	Citic Envirotech	0.83	1.1	Buy	DCF
04/27/17	CIMB	Citic Envirotech	0.785	0.93	Add	DCF
05/03/17	UOB Kay Hian	Citic Envirotech	0.77	1.1	Buy
07/03/17	UOB Kay Hian	Citic Envirotech	0.73	1.1	Buy	DCF
08/08/17	UOB Kay Hian	Citic Envirotech	0.715	1.1	Buy	DCF
09/05/17	UOB Kay Hian	Citic Envirotech	0.735	1.1	Buy	DCF
10/04/17	UOB Kay Hian	Citic Envirotech	0.745	1.1	Buy	DCF
10/11/17	DBS Vickers	Citic Envirotech	0.735	0.8	Hold	PER25x
11/02/17	UOB Kay Hian	Citic Envirotech	0.79	1.1	Buy	DCF

Stock calls for 5 December 2017

Date	Analyst	Company	Last	Target	Call	Valuation
12/05/17	OCBC	OUE Commercial	0.71	0.67	Hold
12/05/17	UOB Kay Hian	SPH	2.79	2.42	Sell	Sum of parts
12/05/17	Lim & Tan	SPH	2.79	0	Hold

Billionaire Robert Kuok's daughter HK store was robbed yesterday.

http://www.themalaysiantimes.com.my/handbags-worth-us184000-stolen-robert-kuoks-daughters-shop/

We stated that HK security was getting from bad to worse in our previous post last month.  Then, another robbery happened yesterday.

Be careful when you visit HK!

http://sg-stock.blogspot.sg/2017/11/hong-kong-security-is-getting-worst.html

Chip Eng Seng - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/14/16	phillip	Chip Eng Seng	0.685	0.72	Accumulate	RNAV (50% discount)
05/09/16	phillip	Chip Eng Seng	0.645	0.72	Accumulate	RNAV (50% discount)
08/19/16	phillip	Chip Eng Seng	0.63	0.72	Accumulate
11/14/16	phillip	Chip Eng Seng	0.625	0.72	Accumulate	RNAV (50% discount)
02/21/17	phillip	Chip Eng Seng	0.72	0.81	Accumulate	RNAV (50% discount)
03/07/17	phillip	Chip Eng Seng	0.725	0.87	Accumulate	RNAV (50% discount)
05/08/17	phillip	Chip Eng Seng	0.7	0.9	Buy	RNAV (50% discount)
08/10/17	phillip	Chip Eng Seng	0.73	0.9	Buy	RNAV (50% discount)
10/17/17	DBS Vickers	Chip Eng Seng	0.9	1.18	Buy	Sum of parts
11/03/17	DBS Vickers	Chip Eng Seng	0.97	1.18	Buy	Sum of parts
11/09/17	phillip	Chip Eng Seng	0.96	1.21	Buy	RNAV (40% discount)

China Sunsine - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/03/16	Amfrasers	China Sunsine	0.335	0.54	Buy	PER8x FY16
04/28/16	Amfrasers	China Sunsine	0.375	0.54	Buy	PER8x FY16
08/12/16	Amfrasers	China Sunsine	0.4	0.6	Buy	PER8x FY16
09/21/16	Amfrasers	China Sunsine	0.41	0.6	Buy	PER8x FY16
11/10/16	Amfrasers	China Sunsine	0.445	0.73	Buy	PER8x FY17
06/05/17	NRA	China Sunsine	0.785	1.245	Overweight	PER12x FY17
10/27/17	Amfrasers	China Sunsine	1	1.39	Buy	PER10x FY18

China Jinjiang - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/22/17	CIMB	China Jinjiang	0.845	1.1	Add	DCF
04/27/17	CIMB	China Jinjiang	0.91	1.1	Add	DCF
05/26/17	CIMB	China Jinjiang	0.89	1.1	Add	DCF
08/21/17	CIMB	China Jinjiang	0.79	1.1	Add	DCF

China Everbright - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/26/16	Deutsche	China Everbright	0.43	1	Buy
02/22/16	Deutsche	China Everbright	0.475	0.8	Buy	DCF
02/23/16	CIMB	China Everbright	0.5	0.81	Add	DCF
02/23/16	DMG & Partners	China Everbright	0.5	0.82	Buy	DCF, PER23.5x FY16
04/13/16	DBS Vickers	China Everbright	0.555	0.64	Buy	PER25x
04/20/16	DBS Vickers	China Everbright	0.63	0.69	Buy
05/09/16	phillip	China Everbright	0.64	0.73	Accumulate	PER19.3x
05/16/16	CIMB	China Everbright	0.67	0.81	Add	DCF
05/17/16	DBS Vickers	China Everbright	0.66	0.69	Buy
06/13/16	DBS Vickers	China Everbright	0.645	0.69	Buy
07/15/16	CIMB	China Everbright	0.66	0.81	Add	DCF
08/10/16	CIMB	China Everbright	0.6	0.67	Hold	DCF
08/10/16	DBS Vickers	China Everbright	0.6	0.66	Buy	PER26x FY16
08/10/16	DMG & Partners	China Everbright	0.6	0.8	Buy	DCF
08/10/16	phillip	China Everbright	0.6	0.69	Accumulate	PER19.2x
11/16/16	phillip	China Everbright	0.535	0.63	Accumulate	PER19.8x
12/06/16	CIMB	China Everbright	0.495	0.54	Hold	DCF
12/07/16	Deutsche	China Everbright	0.495	0.7	Buy
01/03/17	DMG & Partners	China Everbright	0.5	0.62	Buy
02/27/17	phillip	China Everbright	0.435	0.56	Buy	PER17.4x
02/28/17	DMG & Partners	China Everbright	0.44	0.54	Buy	DCF
03/13/17	DBS Vickers	China Everbright	0.44	0.64	Buy	PER24x
03/30/17	DMG & Partners	China Everbright	0.475	0.54	Buy
04/03/17	DBS Vickers	China Everbright	0.475	0.64	Buy
05/15/17	DBS Vickers	China Everbright	0.48	0.64	Buy	PER24x
05/15/17	phillip	China Everbright	0.48	0.57	Accumulate	PER16.7x
08/08/17	DMG & Partners	China Everbright	0.475	0.54	Buy	DCF
08/10/17	phillip	China Everbright	0.485	0.61	Buy	PER17.1x
08/10/17	DBS Vickers	China Everbright	0.485	0.65	Buy	PER24x FY18
10/11/17	DBS Vickers	China Everbright	0.465	0.65	Buy	PER24x FY18
10/20/17	phillip	China Everbright	0.46	0.54	Buy	PER15.9x
11/15/17	DMG & Partners	China Everbright	0.45	0.54	Buy	DCF
11/17/17	phillip	China Everbright	0.445	0.59	Buy	PER17.4x FY18

Stock calls for 4 December 2017

Date	Analyst	Company	Last	Target	Call	Valuation
12/04/17	Kim Eng	Best World	1.26	1.88	Buy	PER19x FY18, PEG0.7x
12/04/17	Phillip	CapitaRetail China	1.64	1.66	Neutral	DDM
12/04/17	phillip	Dairy Farm	8.08	9.89	Buy
12/04/17	phillip	F & N	2.58	2.83	Accumulate
12/04/17	CIMB	First Resources	1.88	2.13	Add
12/04/17	Lim & Tan	Keppel Corp	7.76	0	Buy
12/04/17	Phillip	Mapletree Industrial	1.99	2.06	Hold
12/04/17	OCBC	Mapletree Industrial	1.99	2.06	Hold
12/04/17	phillip	Old Chang Kee	0.76	0.98	Buy
12/04/17	UOB Kay Hian	SATS	5.24	6	Buy
12/04/17	UOB Kay Hian	Sembcorp Marine	1.87	2.1	Buy	PB1.6x FY19
12/04/17	Amfrasers	Sembcorp Marine	1.87	2.05	Hold
12/04/17	DMG & Partners	SGX	7.55	9	Buy	PER24x FY19
12/04/17	phillip	Sheng Siong	0.935	1.18	Buy
12/04/17	DBS Vickers	Singapore Post	1.28	1.23	Hold
12/04/17	Phillip	Thai Beverage	0.96	1.18	Buy