Global Premium Hotel - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/04/16	OCBC	Global Premium Hotel	0.29	0.33	Hold
05/10/16	OCBC	Global Premium Hotel	0.29	0.31	Hold	RNAV (55% discount)
08/04/16	OCBC	Global Premium Hotel	0.29	0.31	Hold
11/04/16	OCBC	Global Premium Hotel	0.28	0.31	Hold
02/14/17	OCBC	Global Premium Hotel	0.31	0.34	Hold	Buy @ $0.29 or lower

Global Logistics - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/16	DBS Vickers	Global Logistics	1.96	2.73	Buy	RNAV (20% discount)
01/26/16	Deutsche	Global Logistics	1.73	2.4	Buy
01/29/16	phillip	Global Logistics	1.67	2.48	Buy	PB1x FY16
02/03/16	Deutsche	Global Logistics	1.665	2.3	Buy
02/04/16	Lim & Tan	Global Logistics	1.620	0	Buy
02/04/16	OCBC	Global Logistics	1.620	2.68	Buy
02/05/16	CIMB	Global Logistics	1.630	2.74	Add	Sum of parts
02/05/16	DBS Vickers	Global Logistics	1.630	2.47	Buy	RNAV (30% discount)
02/05/16	JP Morgan	Global Logistics	1.630	2.2	Overweight
02/05/16	phillip	Global Logistics	1.630	2.43	Buy	RNAV
02/11/16	Citigroup	Global Logistics	1.630	1.73	Neutral	RNAV (40% discount)
02/16/16	Macquarie	Global Logistics	1.630	2.89	Outperform
02/25/16	Deutsche	Global Logistics	1.730	2.3	Buy	RNAV (50% discount)
03/24/16	Deutsche	Global Logistics	1.980	2.3	Buy	RNAV (42.4% discount)
04/04/16	OCBC	Global Logistics	1.935	2.68	Buy
05/19/16	Lim & Tan	Global Logistics	1.905	0	Buy
05/20/16	CIMB	Global Logistics	1.845	2.72	Add	RNAV
05/20/16	Macquarie	Global Logistics	1.845	2.89	Outperform	Sum of parts
05/20/16	OCBC	Global Logistics	1.845	2.37	Buy
05/23/16	DBS Vickers	Global Logistics	1.825	2.47	Buy
05/23/16	phillip	Global Logistics	1.825	2.28	Accumulate	RNAV (15% discount)
06/03/16	Lim & Tan	Global Logistics	1.790	0	Buy
06/03/16	OCBC	Global Logistics	1.790	2.37	Buy
07/01/16	Lim & Tan	Global Logistics	1.800	0	Buy
07/11/16	OCBC	Global Logistics	1.830	2.37	Buy
07/26/16	Deutsche	Global Logistics	1.960	2.3	Buy
08/12/16	JP Morgan	Global Logistics	1.950	2.15	Overweight
08/12/16	Lim & Tan	Global Logistics	1.950	0	Hold
08/12/16	OCBC	Global Logistics	1.950	2.37	Buy
08/15/16	CIMB	Global Logistics	1.930	2.72	Add	RNAV
08/15/16	phillip	Global Logistics	1.930	2.28	Accumulate	RNAV (15% discount)
08/16/16	DBS Vickers	Global Logistics	1.930	2.47	Buy	RNAV (30% discount)
08/25/16	Credit Suisse	Global Logistics	1.920	1.65	Underperform	RNAV (32% discount), PER26x
09/02/16	OCBC	Global Logistics	1.825	2.37	Buy
09/13/16	Lim & Tan	Global Logistics	1.860	0	Buy
09/14/16	CIMB	Global Logistics	1.820	2.73	Add	RNAV
09/14/16	DBS Vickers	Global Logistics	1.820	2.47	Buy	RNAV (30% discount)
09/14/16	Macquarie	Global Logistics	1.820	2.4	Outperform
10/11/16	Lim & Tan	Global Logistics	1.860	0	Buy
10/14/16	OCBC	Global Logistics	1.815	2.37	Buy
11/03/16	JP Morgan	Global Logistics	1.945	2.15	Overweight
11/03/16	Macquarie	Global Logistics	1.945	2.4	Outperform	Sum of parts (20% discount)
11/08/16	Lim & Tan	Global Logistics	2.040	0	Buy
11/08/16	OCBC	Global Logistics	2.040	2.37	Buy
11/09/16	CIMB	Global Logistics	2.100	2.73	Add	Sum of parts
11/09/16	Credit Suisse	Global Logistics	2.100	1.73	Underperform
11/09/16	DBS Vickers	Global Logistics	2.100	2.47	Buy	RNAV (30% discount)
11/09/16	OCBC	Global Logistics	2.100	2.37	Buy
11/09/16	phillip	Global Logistics	2.100	2.31	Accumulate	RNAV (15% discount)
11/23/16	UOB Kay Hian	Global Logistics	2.040	2.4	Buy	RNAV (22% discount)
12/01/16	Lim & Tan	Global Logistics	2.060	0	Buy
12/02/16	OCBC	Global Logistics	2.060	2.37	Buy
12/06/16	CIMB	Global Logistics	2.280	2.73	Add	RNAV
12/07/16	Deutsche	Global Logistics	2.270	2.3	Buy
12/13/16	UOB Kay Hian	Global Logistics	2.240	2.4	Hold
12/15/16	DBS Vickers	Global Logistics	2.220	2.47	Buy	RNAV (30% discount)
01/06/17	Lim & Tan	Global Logistics	2.400	0	Buy
01/09/17	DBS Vickers	Global Logistics	2.460	2.47	Buy	RNAV (30% discount)
01/13/17	Lim & Tan	Global Logistics	2.610	0	Hold
01/31/17	Credit Suisse	Global Logistics	2.620	2.55	Underperform
02/06/17	Lim & Tan	Global Logistics	2.620	0	Hold
02/10/17	CIMB	Global Logistics	2.780	2.79	Hold	Sum of parts
02/10/17	Credit Suisse	Global Logistics	2.780	2.75	Neutral
02/10/17	OCBC	Global Logistics	2.780	2.87	Hold
02/10/17	UOB Kay Hian	Global Logistics	2.780	2.5	Hold	RNAV (20% discount)
02/13/17	DBS Vickers	Global Logistics	2.760	3	Buy	RNAV (15% discount)
02/13/17	phillip	Global Logistics	2.760	2.6	Neutral	RNAV (10% discount)
03/09/17	Lim & Tan	Global Logistics	2.730	0	Hold
03/13/17	UOB Kay Hian	Global Logistics	2.720	2.5	Hold
04/03/17	OCBC	Global Logistics	2.780	2.87	Hold
04/27/17	phillip	Global Logistics	2.880	2.6	Neutral
05/17/17	DBS Vickers	Global Logistics	2.910	3	Hold	RNAV (15% discount), PB1.2x
05/19/17	Lim & Tan	Global Logistics	2.900	0	Hold
05/19/17	OCBC	Global Logistics	2.900	2.87	Hold
05/22/17	CIMB	Global Logistics	2.930	3.05	Hold	RNAV
05/22/17	Credit Suisse	Global Logistics	2.930	2.78	Neutral	PB1.07x
05/22/17	UOB Kay Hian	Global Logistics	2.930	2.75	Hold	RNAV (19% discount), Buy @ $2.55
05/23/17	phillip	Global Logistics	2.900	2.87	Neutral	RNAV (10% discount)
06/09/17	Lim & Tan	Global Logistics	2.940	0	Hold
06/22/17	Deutsche	Global Logistics	2.990	2.6	Hold
07/17/17	phillip	Global Logistics	3.290	3.38	Accept Offer	Offer price $3.38
07/17/17	UOB Kay Hian	Global Logistics	3.290	3.38	Accept Offer	Offer price $3.38
07/17/17	Credit Suisse	Global Logistics	3.290	3.38	Accept Offer	Offer price $3.38 (PB1.3x)
07/17/17	Lim & Tan	Global Logistics	3.290	3.38	Accept Offer	Offer price $3.38
08/10/17	CIMB	Global Logistics	3.250	3.38	Hold	Offer price $3.38
09/18/17	UOB Kay Hian	Global Logistics	3.280	2.75	Hold
10/02/17	OCBC	Global Logistics	3.300	2.87	Accept Offer	Offer price $3.38
12/20/17	CIMB	Global Logistics	3.360	3.38	Hold

Global Invacom - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/13/16	DMG & Partners	Global Invacom	0.106	0.28	Buy	PER13.5x FY16, PB0.85x
06/15/16	DMG & Partners	Global Invacom	0.109	0.28	Buy
07/11/16	DMG & Partners	Global Invacom	0.121	0.28	Buy	PER7x FY17
08/05/16	DMG & Partners	Global Invacom	0.165	0.28	Buy
10/20/16	DMG & Partners	Global Invacom	0.167	0.28	Buy
11/14/16	DMG & Partners	Global Invacom	0.183	0.25	Buy	PER9x FY17
01/06/17	DMG & Partners	Global Invacom	0.156	0.25	Buy
02/24/17	DMG & Partners	Global Invacom	0.144	0.26	Buy	PER12x FY17
05/11/17	DMG & Partners	Global Invacom	0.166	0.26	Buy

Singapore GDP grew 3.5% in 2017

https://www.theedgesingapore.com/singapores-economy-grew-35-2017-pm-lee

Farewell cheers to Singapore in 2017 and welcome to 2018!

Singapore grew 3.5% in 2017 because of China's exports but PM Lee didn't pay tribute to China for SG's prosperity.  Without China including HK, SG couldn't have grown this much if we were to exclude international trading.  This conclusion can be affirmed by the NODX statistics.

Is this good economic growth sustainable? No!  Why?

SG is on the cusp of an inflection point now because many ports associated with China will be up and running in the next few years.  Meanwhile, some such China linked ports have started operations recently.

Once these ports build up their capacities and cargo volumes, they will definitely cannibalize SG port.  Furthermore, the Arctic sea lane is also becoming commercially viable and this will redirect a lot of cargoes away from the South East Asia sea lane.

Thus, we must enjoy our prosperity while it still lasts!

The US risk-free rate is stagnant for now.

The US 10-year treasury yield is the risk-free rate and is stagnant for now.  This shows that investors are not convinced that the FED will continue to raise rates in 2018 and 2019.  However, investors will be awakened from this denial in the resolution of FED because economic logic will prevail.

The USD has been falling recently.

The USD has been falling after the FED hiked interest rate.

The gold price has been increasing due to the depreciation in USD. This is a normal inverse relationship because it will cost lesser to buy gold with the same amount of USD since gold is priced in USD.

However, we believe the dip in the USD is only a temporary phenomenon because of the current investors' denial of the resolution of the FED.  The economic logic of the impending continual interest rate increases by the FED will prevail in the future by attracting monies to flow back to the USA and the new USA tax structure proposals will force the monies back as well.

US rig count - 929

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. declined by two this week to 929.

That exceeds the 658 rigs that were active this time a year ago.

Houston oilfield services company Baker Hughes reported on Friday that 747 rigs were drilling for oil and 182 for natural gas this week.

Among oil- and gas-producing states, Colorado and Ohio each gained one rig.

North Dakota and Texas were down by two each, while Utah decreased by one.

Alaska, Arkansas, California, Louisiana, New Mexico, Oklahoma, Pennsylvania, West Virginia and Wyoming were unchanged.

The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404.

===========================

Related stocks: Keppel Corp, Sembcorp Marine & Cosco

China 5-star hotels use toilet brushes to wash cups and basins.

http://www.scmp.com/news/china/society/article/2125843/chinese-hotel-cleaners-caught-using-toilet-brush-wash-cups-and

Travellers to China have to wash all the cups in the hotel rooms before using them because some 5-star hotels are using toilet brushes to wash the cups.  Also, try to use your own towels instead of using the hotel towels.

The named hotels are: Sheraton, Shangri-La and Kempinski branches.

Don't ever think that a 5-star hotel is better in China because China workers have very different working cultures which are lousy and inferior.

GL - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/15/16	Lim & Tan	GL	0.86	0	Buy
02/16/16	CIMB	GL	0.865	1.26	Add	RNAV (25% discount) CY16
03/03/16	CIMB	GL	0.85	1.26	Add
05/13/16	Lim & Tan	GL	0.875	0	Hold
05/16/16	CIMB	GL	0.865	1.18	Add	RNAV (25% discount) CY16
06/17/16	Lim & Tan	GL	0.86	0	Hold
07/04/16	Lim & Tan	GL	0.825	0	Hold
08/30/16	Lim & Tan	GL	0.795	0	Hold
09/01/16	CIMB	GL	0.795	0.86	Hold	RNAV (40% discount) CY16
10/25/16	Lim & Tan	GL	0.79	0	Buy on weakness
10/26/16	CIMB	GL	0.8	0.86	Hold	RNAV (40% discount) CY17
12/01/16	Lim & Tan	GL	0.735	0	Buy
01/25/17	CIMB	GL	0.78	0.84	Hold	RNAV (40% discount) CY17
04/24/17	Lim & Tan	GL	0.775	0	Buy
04/27/17	CIMB	GL	0.77	0.87	Add	RNAV (40% discount) CY17
08/28/17	Lim & Tan	GL	0.75	0	Buy
10/16/17	Lim & Tan	GL	0.855	0	Buy
10/31/17	UOB Kay Hian	GL	0.905	1.185	Buy	Sum of parts
11/09/17	UOB Kay Hian	GL	0.885	1.185	Buy
12/06/17	UOB Kay Hian	GL	0.87	1.185	Buy

Geo Energy - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/08/16	NRA	Geo Energy	0.103	0.225	Overweight	PER7.4x
11/02/16	NRA	Geo Energy	0.215	0.31	Overweight
11/15/16	NRA	Geo Energy	0.265	0.345	Overweight	FCFE
02/22/17	phillip	Geo Energy	0.27	0.45	Buy	PER11x
03/08/17	phillip	Geo Energy	0.28	0.45	Buy	PER11x
05/25/17	phillip	Geo Energy	0.26	0.45	Buy	PER11x
08/28/17	phillip	Geo Energy	0.27	0.44	Buy	PER10x
09/11/17	Amfrasers	Geo Energy	0.25	0.36	Buy	DCF, PER5x FY18
11/28/17	phillip	Geo Energy	0.255	0.44	Buy	PER10x
12/06/17	phillip	Geo Energy	0.26	0.44	Buy	PER10x
12/27/17	Amfrasers	Geo Energy	0.255	0.36	Buy

Stock calls for 29 December 2017

Date	Analyst	Company	Last	Target	Call	Valuation
12/29/17	DBS Vickers	Citic Envirotech	0.755	0.8	Hold

Another hard fork will happen today for Bitcoin.

https://www.thestreet.com/story/14431175/1/crypto-community-segwit2x-hard-fork.html

This won't be the last hard fork because HK based Bitfinex will do a fork too.

http://sg-stock.blogspot.sg/2017/12/bitcoin-will-have-another-fork-after.html

Therefore, the limitation of 21m tokens for bitcoin has become unlimited because miners can do forkings.  How can the price of a commodity be so high when the supply is unlimited?

The western media are smearing China again!

http://en.people.cn/n3/2017/1228/c90000-9309514.html

The western media were accusing China of illegally shipping oil to North Korea without any evidence.  Not a shred of evidence was presented and everything was based on speculation and conjecture.  China didn't name the foreign media involved out of good faith.

Let's look at which media created fake news before.

AFP
http://sg-stock.blogspot.sg/2017/07/afp-news-agency-is-still-recalcitrant.html

CNN
http://sg-stock.blogspot.sg/2017/06/cnn-is-creating-fake-news-now.html

BBC
http://sg-stock.blogspot.sg/2017/07/smearing-campaign-against-china-by-bbc.html

Genting Hong Kong - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/21/16	UOB Kay Hian	Genting Hong Kong	0.325	0.35	Hold	Sum of parts (30% discount), Buy @ $0.30
08/25/16	UOB Kay Hian	Genting Hong Kong	0.275	0.28	Hold	Sum of parts, Buy @ $0.24
01/31/17	UOB Kay Hian	Genting Hong Kong	0.3	0.28	Hold	Buy @ $0.23
03/20/17	UOB Kay Hian	Genting Hong Kong	0.315	0.28	Hold	Sum of parts, Buy @ $0.24
06/16/17	UOB Kay Hian	Genting Hong Kong	0.31	0.26	Sell	Sum of parts
08/02/17	UOB Kay Hian	Genting Hong Kong	0.28	0.26	Sell
08/21/17	UOB Kay Hian	Genting Hong Kong	0.27	0.26	Hold	Sum of parts, Buy @ $0.24
10/04/17	UOB Kay Hian	Genting Hong Kong	0.25	0.265	Hold	Sum of parts
12/15/17	UOB Kay Hian	Genting Hong Kong	0.23	0.24	Hold	Sum of parts, Buy @ $0.22

Genting - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/14/16	Nomura	Genting	0.7	0.8	Neutral
01/14/16	UOB Kay Hian	Genting	0.7	0.97	Buy
01/26/16	Deutsche	Genting	0.675	0.5	Sell
01/29/16	CIMB	Genting	0.695	0.73	Hold	DCF
01/29/16	DBS Vickers	Genting	0.695	0.76	Hold
02/19/16	CIMB	Genting	0.705	0.8	Add	DCF
02/19/16	Credit Suisse	Genting	0.705	1	Outperform
02/19/16	DMG & Partners	Genting	0.705	1	Trading Buy	Sum of parts
02/19/16	Kim Eng	Genting	0.705	0.78	Hold	EV/Ebitda8x FY16
02/19/16	OCBC	Genting	0.705	0.6	Sell	DCF
02/19/16	UOB Kay Hian	Genting	0.705	0.97	Buy	EV/Ebitda11x FY16
02/22/16	DBS Vickers	Genting	0.72	0.65	Hold
03/04/16	Deutsche	Genting	0.765	0.5	Sell
03/28/16	UOB Kay Hian	Genting	0.82	0.97	Buy	EV/Ebitda11x FY16
04/28/16	Credit Suisse	Genting	0.85	1	Outperform
05/16/16	CIMB	Genting	0.785	0.86	Add	DCF
05/16/16	DBS Vickers	Genting	0.785	0.79	Hold
05/16/16	DMG & Partners	Genting	0.785	0.91	Trading Buy	DCF
05/16/16	Kim Eng	Genting	0.785	0.78	Hold	EV/Ebitda8x FY16
05/16/16	OCBC	Genting	0.785	0.72	Hold	DCF
05/16/16	UOB Kay Hian	Genting	0.785	0.97	Buy	EV/Ebitda10.6x
06/13/16	Credit Suisse	Genting	0.74	1	Outperform
06/13/16	Deutsche	Genting	0.74	0.8	Hold
06/13/16	OCBC	Genting	0.74	0.72	Hold
06/15/16	CIMB	Genting	0.725	0.89	Add	Sum of parts
07/15/16	Credit Suisse	Genting	0.785	1	Outperform
07/26/16	DBS Vickers	Genting	0.8	0.79	Hold
07/27/16	CIMB	Genting	0.775	0.89	Add	Sum of parts
08/05/16	CIMB	Genting	0.795	0.89	Add	Sum of parts
08/05/16	Credit Suisse	Genting	0.795	1	Outperform	EV/Ebitda12x FY16
08/05/16	DBS Vickers	Genting	0.795	0.91	Buy
08/05/16	DMG & Partners	Genting	0.795	0.82	Neutral
08/05/16	Kim Eng	Genting	0.795	0.71	Sell	EV/Ebitda8x
08/05/16	UBS	Genting	0.795	0.95	Buy
08/05/16	UOB Kay Hian	Genting	0.795	0.88	Buy	EV/Ebitda10x FY17
08/08/16	OCBC	Genting	0.755	0.77	Hold	DCF, Buy @ $0.7
08/22/16	UOB Kay Hian	Genting	0.76	0.84	Buy	EV/Ebitda11x FY16/17
09/05/16	Credit Suisse	Genting	0.72	1	Outperform
09/06/16	OCBC	Genting	0.735	0.77	Hold
10/07/16	Credit Suisse	Genting	0.775	1	Outperform
10/12/16	OCBC	Genting	0.755	0.77	Hold
10/19/16	DBS Vickers	Genting	0.765	0.91	Buy	DCF, Ebitda10.2x FY17
11/04/16	CIMB	Genting	0.76	0.89	Add	Sum of parts
11/04/16	Credit Suisse	Genting	0.76	1	Outperform
11/04/16	DBS Vickers	Genting	0.76	0.91	Buy	DCF, Ebitda10.2x FY17
11/04/16	Kim Eng	Genting	0.76	0.72	Hold	EV/Ebitda8x FY17
11/04/16	OCBC	Genting	0.76	0.81	Hold	DCF
11/04/16	UOB Kay Hian	Genting	0.76	0.84	Buy	EV/Ebitda10x FY17
11/14/16	Kim Eng	Genting	0.875	0.73	Sell	EV/Ebitda8x FY17
11/21/16	Deutsche	Genting	0.935	1.2	Buy	EV/Ebitda14x FY17
11/24/16	DBS Vickers	Genting	0.96	1.15	Buy	DCF
11/25/16	Lim & Tan	Genting	0.95	0	Buy
11/28/16	OCBC	Genting	0.955	0.75	Sell
12/06/16	CIMB	Genting	0.965	0.89	Add	Sum of parts
12/07/16	Credit Suisse	Genting	0.98	1.18	Outperform	PER13.2x, EV/Ebitda11.2x
12/07/16	Deutsche	Genting	0.98	1.2	Buy
12/09/16	UOB Kay Hian	Genting	0.995	0.91	Hold
12/13/16	Kim Eng	Genting	0.955	0.73	Sell	EV/Ebitda8x FY17
12/15/16	DBS Vickers	Genting	0.985	1.15	Buy	DCF
12/16/16	OCBC	Genting	0.96	0.75	Sell
01/03/17	DMG & Partners	Genting	0.905	0.82	Neutral
01/03/17	OCBC	Genting	0.905	0.88	Hold
01/05/17	Credit Suisse	Genting	0.91	1.18	Outperform
01/12/17	CIMB	Genting	0.935	0.93	Hold	DCF
01/31/17	UOB Kay Hian	Genting	0.96	0.91	Hold	Buy @ $0.85
02/23/17	DBS Vickers	Genting	0.98	1.2	Buy	DCF
02/23/17	Deutsche	Genting	0.98	1.35	Buy
02/23/17	DMG & Partners	Genting	0.98	0.93	Neutral	DCF
02/23/17	Kim Eng	Genting	0.98	1.1	Buy
02/23/17	OCBC	Genting	0.98	1.17	Buy
02/23/17	UOB Kay Hian	Genting	0.98	1.01	Hold	EV/Ebitda11.6x FY17, Buy @ $0.95 or below
02/24/17	CIMB	Genting	1.03	1.11	Add	EV/Ebitda 9x FY18
03/13/17	Credit Suisse	Genting	1	1.2	Outperform
03/17/17	DBS Vickers	Genting	1	1.2	Buy
04/07/17	Credit Suisse	Genting	1.025	1.2	Outperform
05/04/17	Kim Eng	Genting	1.11	1.25	Buy	EV/Ebitda12x FY17
05/15/17	CIMB	Genting	1.08	1.24	Add	EV/Ebitda12x FY18
05/15/17	Credit Suisse	Genting	1.08	1.35	Outperform	Ev/Ebitda13.1x FY18
05/15/17	DMG & Partners	Genting	1.08	1.04	Neutral	DCF
05/15/17	OCBC	Genting	1.08	1.17	Buy
05/15/17	UOB Kay Hian	Genting	1.08	1.15	Hold	EV/Ebitda11.8x FY17, Buy @ $1.05
05/16/17	DBS Vickers	Genting	1.15	1.35	Buy	DCF
06/16/17	DBS Vickers	Genting	1.155	1.35	Buy
06/22/17	Deutsche	Genting	1.145	1.2	Hold	EV/Ebitda12x FY17
07/13/17	UOB Kay Hian	Genting	1.055	1.12	Hold
07/28/17	Credit Suisse	Genting	1.15	1.35	Outperform
08/03/17	CIMB	Genting	1.18	1.35	Add	EV/Ebitda 12x FY18
08/03/17	UOB Kay Hian	Genting	1.18	1.15	Hold	EV/Ebitda10.5x FY18, Buy @ $1.05
08/03/17	DMG & Partners	Genting	1.18	1.19	Neutral	DCF
08/03/17	Kim Eng	Genting	1.18	1.35	Buy	EV/Ebitda 12x
08/03/17	OCBC	Genting	1.18	1.32	Buy	FCFE
08/03/17	DBS Vickers	Genting	1.18	1.45	Buy	EV/Ebitda13x
08/03/17	Credit Suisse	Genting	1.18	1.48	Outperform
09/26/17	Kim Eng	Genting	1.15	1.35	Buy
10/11/17	Deutsche	Genting	1.21	1.2	Hold	EV/Ebitda12x FY17
10/26/17	CIMB	Genting	1.2	1.35	Add	EV/Ebitda12x FY18
10/27/17	UOB Kay Hian	Genting	1.25	1.15	Hold
11/07/17	CIMB	Genting	1.235	1.45	Add
11/07/17	UOB Kay Hian	Genting	1.235	1.3	Hold	EV/Ebitda11.2x FY18, Buy @ $1.15
11/07/17	Credit Suisse	Genting	1.235	1.6	Outperform
11/07/17	DMG & Partners	Genting	1.235	1.21	Neutral	DCF
11/07/17	OCBC	Genting	1.235	1.35	Buy	FCFE
11/07/17	Kim Eng	Genting	1.235	1.42	Buy	EV/Ebitda12x FY18
11/07/17	DBS Vickers	Genting	1.235	1.51	Buy	DCF
12/06/17	DBS Vickers	Genting	1.35	1.51	Buy
12/14/17	Kim Eng	Genting	1.34	1.42	Buy
12/20/17	CIMB	Genting	1.34	1.45	Add

Fu Yu - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/29/16	DMG & Partners	Fu Yu	0.142	0.29	Buy	DCF, PER12.8x FY16
03/11/16	DMG & Partners	Fu Yu	0.179	0.29	Buy	DCF
04/11/16	DMG & Partners	Fu Yu	0.197	0.29	Buy	DCF, PER12.8x FY16
11/14/16	DMG & Partners	Fu Yu	0.191	0.29	Buy	DCF
01/06/17	DMG & Partners	Fu Yu	0.194	0.29	Buy
02/24/17	DMG & Partners	Fu Yu	0.21	0.27	Buy	DCF
03/03/17	DBS Vickers	Fu Yu	0.205	0.25	Not Rated	PER6x FY7, Ex-Cash
05/11/17	DMG & Partners	Fu Yu	0.225	0.23	Neutral

South Korea will shut down some cryptocurrency exchanges!

https://www.bloomberg.com/news/articles/2017-12-28/bitcoin-drops-as-south-korea-says-exchange-closures-are-possible

South Korea is trying to protect its citizens from the impending collapse of bitcoins by shutting down some cryptocurrency exchanges.

I think South Korea government knows that the Japanese are trying to offload their bitcoins by finding suckers to buy over at a much higher price.  Therefore, the SK government has been taking further actions against bitcoins.

China has formed a strong consortium to tender for the KL-SG HSR.

https://sg.news.yahoo.com/chinese-state-owned-firms-team-041943641.html

This is definitely good news for South East Asia because China has formed a strong consortium to tender for the KL-SG HSR.  This shows that China is serious and bent on getting the KL-SG HSR project.  As this tender will be held in KL whereby China is very familiar with, I believe China will win this HSR project based on economic, political and technological merits unless there is a foreign power intervention.

Let's see how this will pan out.