US rig count - 967

Related stock: Keppel Corp, Sembcorp Marine & Cosco.

US bank shares dropped after FED capped their dividend payouts and share buybacks.

https://www.channelnewsasia.com/news/business/us-bank-shares-drop-as-fed-sets-limits-following-stress-tests-12875084

The US bank shares fell just as expected after FED capped their dividend payouts and share buybacks.  We were not saying this outcome on hindsight because we wrote about it in April 2020.

Why did the US Fed stop the banks from doing such things?  It is to force the banks to conserve cash and avoid credit rating downgrades.

We had stated that such activities would cause the share prices to drop in our previous post below.

https://sg-stock.blogspot.com/2020/04/what-will-companies-do-with-credit.html

Japan should stop its lies about Diaoyu Island.

https://sg.news.yahoo.com/japan-china-jostle-over-disputed-111501995.html

A fact is a fact.  Telling a lie thousands of times won't make it real.

We had stated numerous times that Diaoyu Island belonged to China inherently.

http://sg-stock.blogspot.com/2017/08/hahaha-japanese-historian-proved-that.html

http://sg-stock.blogspot.com/2017/04/japan-should-stop-its-illegal.html

http://sg-stock.blogspot.com/2017/03/oxfords-archives-reveal-diaoyu-islands.html

Paracel islands also belonged to China.

http://sg-stock.blogspot.com/2018/11/a-1947-map-showed-that-south-china-sea.html

Yongnam - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/05/19	CIMB	Yongnam	0.186	0.33	Add	PB0.7x FY19
05/17/19	CIMB	Yongnam	0.169	0.33	Add	PB0.7x FY19
08/15/19	CIMB	Yongnam	0.171	0.28	Add

Yoma - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/11/19	DMG & Partners	Yoma	0.32	0.57	Buy	Sum of parts (20% discount)
06/03/19	DBS Vickers	Yoma	0.33	0.4	Buy	RNAV (60% discount)
11/15/19	DBS Vickers	Yoma	0.375	0.5	Buy	RNAV (45% discount)
12/26/19	DMG & Partners	Yoma	0.335	0.57	Buy
02/17/20	DBS Vickers	Yoma	0.325	0.5	Buy
05/15/20	DBS Vickers	Yoma	0.197	0.5	Buy
06/22/20	Phillip	Yoma	0.245	0.46	Buy	Sum of parts (20% discount)
06/25/20	DBS Vickers	Yoma	0.3	0.5	Buy	PER12x FY20

Yanlord - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/12/19	OCBC	Yanlord	1.47	1.75	Buy	PER5x FY19
05/16/19	OCBC	Yanlord	1.44	1.68	Buy	PER5x FY19/20
05/17/19	DBS Vickers	Yanlord	1.44	1.47	Hold	PER6x FY19/20
07/15/19	OCBC	Yanlord	1.32	1.68	Buy
08/14/19	OCBC	Yanlord	1.13	1.68	Buy	PER5x FY19/20
03/02/20	DBS Vickers	Yanlord	1.16	1.1	Hold	PER4.5x FY20

Stock calls for 26 June 2020

Date	Analyst	Company	Last	Target	Call	Valuation
06/26/20	Morgan Stanley	A-Reit	3.11	3.1	Overweight
06/26/20	UOB Kay Hian	Avi-Tech	0.39	0.57	Buy
06/26/20	DMG & Partners	Bumitama	0.44	0.48	Neutral	PER12x FY21
06/26/20	Morgan Stanley	City Developments	8.32	10.5	Overweight
06/26/20	DMG & Partners	First Resources	1.33	1.35	Neutral	PER14x FY21
06/26/20	DMG & Partners	Golden Agri	0.15	0.13	Sell	Sum of parts
06/26/20	DBS Vickers	Keppel Pacific	0.68	0.85	Buy
06/26/20	DMG & Partners	Kimly	0.225	0.26	Buy	DCF
06/26/20	Morgan Stanley	Netlink	0.975	1	Overweight
06/26/20	Morgan Stanley	UOB	20.27	22.9	Overweight

Yangzijiang - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/02/19	CIMB	Yangzijiang	1.57	1.61	Hold	Sum of parts
05/02/19	OCBC	Yangzijiang	1.57	1.45	Hold	Sum of parts
05/02/19	DBS Vickers	Yangzijiang	1.57	1.82	Buy	Sum of parts
06/11/19	OCBC	Yangzijiang	1.4	1.45	Hold
07/18/19	DBS Vickers	Yangzijiang	1.5	1.82	Buy
08/07/19	DBS Vickers	Yangzijiang	1.37	1.82	Buy	Sum of parts
08/13/19	CIMB	Yangzijiang	1.04	1.61	Hold	Sum of parts
09/10/19	UOB Kay Hian	Yangzijiang	0.98	1.46	Buy	PB0.84x
10/09/19	UOB Kay Hian	Yangzijiang	0.95	1.46	Buy
11/12/19	UOB Kay Hian	Yangzijiang	0.98	1.46	Buy	PB0.9x
11/18/19	DBS Vickers	Yangzijiang	1	1.68	Buy	Sum of parts
11/25/19	CIMB	Yangzijiang	1.02	1.45	Add
12/11/19	UOB Kay Hian	Yangzijiang	1.09	1.46	Buy	PB0.84x
12/23/19	DBS Vickers	Yangzijiang	1.07	1.68	Buy
12/27/19	CIMB	Yangzijiang	1.13	1.45	Add
12/27/19	OCBC	Yangzijiang	1.13	1.39	Buy	Sum of parts
01/14/20	DBS Vickers	Yangzijiang	1.16	1.68	Buy
01/20/20	UOB Kay Hian	Yangzijiang	1.16	1.46	Buy
02/01/20	DBS Vickers	Yangzijiang	0.97	1.68	Buy
03/02/20	OCBC	Yangzijiang	0.945	1.2	Buy	Sum of parts
03/02/20	UOB Kay Hian	Yangzijiang	0.945	1.4	Buy
03/02/20	DBS Vickers	Yangzijiang	0.945	1.5	Buy	Sum of parts, PB0.9x
03/17/20	UOB Kay Hian	Yangzijiang	0.8	1.25	Buy	PB0.72x
04/08/20	DBS Vickers	Yangzijiang	0.915	1.5	Buy	Sum of parts
04/14/20	UOB Kay Hian	Yangzijiang	0.94	1.25	Buy	PB0.72x
04/30/20	CIMB	Yangzijiang	0.975	1.37	Add	Sum of parts
05/04/20	UOB Kay Hian	Yangzijiang	0.985	1.22	Buy	PB0.78x
05/04/20	DBS Vickers	Yangzijiang	0.985	1.4	Buy	Sum of parts
06/15/20	DBS Vickers	Yangzijiang	0.98	1.4	Buy	Sum of parts

Wing Tai - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/17/19	OCBC	Wing Tai	2.06	2.41	Buy
05/14/19	OCBC	Wing Tai	2.01	2.41	Buy
06/27/19	OCBC	Wing Tai	2.05	2.41	Buy
07/15/19	OCBC	Wing Tai	2.07	2.41	Buy
10/15/19	OCBC	Wing Tai	2.07	2.27	Buy
02/13/20	UOB Kay Hian	Wing Tai	1.97	2.54	Buy

Wilmar - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/08/19	UOB Kay Hian	Wilmar	3.48	3.9	Buy
04/09/19	OCBC	Wilmar	3.49	3.44	Hold	PB0.9x
04/09/19	CIMB	Wilmar	3.49	3.96	Add
04/09/19	Credit Sussie	Wilmar	3.49	4.2	Outperform
05/02/19	UOB Kay Hian	Wilmar	3.64	3.9	Buy
05/13/19	DMG & Partners	Wilmar	3.51	3.8	Buy	Sum of parts
05/13/19	DBS Vickers	Wilmar	3.51	3.86	Buy	DCF, PER15.6x FY19
05/16/19	DMG & Partners	Wilmar	3.5	3.94	Buy	Sum of parts
05/16/19	OCBC	Wilmar	3.5	3.66	Hold	PB0.95x
05/16/19	CIMB	Wilmar	3.5	3.96	Add	Sum of parts
06/06/19	DMG & Partners	Wilmar	3.3	3.94	Buy
06/13/19	UOB Kay Hian	Wilmar	3.41	3.9	Buy	PER12.8x FY20
06/13/19	Credit Sussie	Wilmar	3.41	4.3	Outperform
07/03/19	Kim Eng	Wilmar	3.73	4.21	Buy	DCF & PER17.5x FY20
07/09/19	UOB Kay Hian	Wilmar	3.79	3.9	Buy
07/09/19	UBS	Wilmar	3.79	4.5	Buy
07/15/19	DMG & Partners	Wilmar	3.76	4.5	Buy	Sum of parts
07/15/19	Credit Sussie	Wilmar	3.76	4.4	Outperform
07/16/19	CIMB	Wilmar	3.83	5.54	Add	Normal target price is $3.96
07/16/19	DBS Vickers	Wilmar	3.83	4.3	Buy	Sum of parts, PER16.2x FY20
07/17/19	OCBC	Wilmar	3.83	4.26	Buy	Sum of parts
07/26/19	UOB Kay Hian	Wilmar	4.06	4.5	Buy	Sum of parts
07/26/19	JP Morgan	Wilmar	4.06	4.8	Overweight
08/14/19	DMG & Partners	Wilmar	4.05	4.5	Buy	Sum of parts
08/14/19	UOB Kay Hian	Wilmar	4.05	4.5	Buy
08/15/19	UOB Kay Hian	Wilmar	3.86	4.4	Buy
08/16/19	OCBC	Wilmar	3.78	4.26	Buy
08/16/19	DBS Vickers	Wilmar	3.78	4.25	Buy	Sum of parts, PER16.3x FY20
08/22/19	CIMB	Wilmar	3.81	4.58	Add
08/22/19	Kim Eng	Wilmar	3.81	3.89	Hold
09/04/19	Kim Eng	Wilmar	3.8	3.89	Hold	DCF
09/11/19	DMG & Partners	Wilmar	3.8	4.5	Buy	Sum of parts
09/13/19	DBS Vickers	Wilmar	3.86	4.25	Buy	Sum of parts, PER16.3x FY20
09/24/19	UOB Kay Hian	Wilmar	3.72	4.4	Buy
09/30/19	DMG & Partners	Wilmar	3.72	4.75	Buy	Sum of parts
10/09/19	Kim Eng	Wilmar	3.63	3.89	Hold	DCF
10/09/19	UOB Kay Hian	Wilmar	3.63	4.4	Buy
11/12/19	UOB Kay Hian	Wilmar	3.83	4.4	Buy
11/13/19	DMG & Partners	Wilmar	3.85	4.75	Buy	Sum of parts
11/14/19	DBS Vickers	Wilmar	3.96	4.35	Buy	Sum of parts, PER16.3x FY20
11/25/19	CIMB	Wilmar	4.1	4.58	Add
12/10/19	UOB Kay Hian	Wilmar	4.1	4.75	Buy	Sum of parts
12/10/19	DBS Vickers	Wilmar	4.1	4.6	Buy	Sum of parts, PER17.6x FY20
12/10/19	JP Morgan	Wilmar	4.1	5	Overweight
12/19/19	DMG & Partners	Wilmar	4.08	4.75	Buy
01/08/20	DMG & Partners	Wilmar	4.29	4.75	Buy	Sum of parts
01/08/20	Credit Sussie	Wilmar	4.29	4.8	Outperform
01/30/20	UOB Kay Hian	Wilmar	3.99	4.75	Buy
02/14/20	DMG & Partners	Wilmar	4.1	4.43	Buy	Sum of parts
02/21/20	CIMB	Wilmar	4.04	4.58	Add	Sum of parts
02/21/20	DMG & Partners	Wilmar	4.04	4.77	Buy	Sum of parts
02/21/20	UOB Kay Hian	Wilmar	4.04	4.75	Buy
02/24/20	UOB Kay Hian	Wilmar	4.11	4.6	Buy
02/24/20	DBS Vickers	Wilmar	4.11	4.6	Buy	Sum of parts, PER17.1x FY20
02/25/20	OCBC	Wilmar	4.05	4.64	Buy
02/25/20	Kim Eng	Wilmar	4.05	4.37	Hold
02/28/20	Morgan Stanley	Wilmar	4.15	5	Overweight
02/28/20	Credit Sussie	Wilmar	4.15	4.8	Outperform
02/28/20	JP Morgan	Wilmar	4.15	5	Overweight
03/24/20	DMG & Partners	Wilmar	2.9	4.3	Buy	Sum of parts
03/27/20	DBS Vickers	Wilmar	3.18	4	Buy	Sum of parts, PER16.3x FY20
03/30/20	UOB Kay Hian	Wilmar	3.22	4	Buy
04/07/20	DMG & Partners	Wilmar	3.4	4.3	Buy
04/13/20	DBS Vickers	Wilmar	3.43	4	Buy
04/30/20	UOB Kay Hian	Wilmar	3.46	4	Buy
05/12/20	UOB Kay Hian	Wilmar	3.54	4	Buy	Sum of parts
05/12/20	CIMB	Wilmar	3.54	4.58	Add	Sum of parts
05/13/20	DMG & Partners	Wilmar	3.82	4.83	Buy	Sum of parts
05/13/20	DBS Vickers	Wilmar	3.82	4	Buy	Sum of parts, PER16.7x FY20
05/13/20	Kim Eng	Wilmar	3.82	4.12	Buy
06/11/20	UOB Kay Hian	Wilmar	4.04	4.8	Buy
06/24/20	DMG & Partners	Wilmar	4.18	4.87	Buy	Sum of parts

Stock calls for 25 June 2020

Date	Analyst	Company	Last	Target	Call	Valuation
06/25/20	CIMB	HRnetGroup	0.5	0.58	Hold
06/25/20	DBS Vickers	Singtel	2.53	3.09	Buy
06/25/20	CIMB	SPH	1.33	1.57	Hold
06/25/20	DBS Vickers	Yoma	0.3	0.5	Buy	PER12x FY20

Venture - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/03/19	Lim & Tan	Venture	18.6	0	Hold
04/26/19	OCBC	Venture	19.29	20.89	Buy	PER15x FY19/20
04/26/19	DMG & Partners	Venture	19.29	19	Neutral
04/26/19	DBS Vickers	Venture	19.29	21.7	Buy	PER15.8x FY19
04/29/19	CIMB	Venture	17.52	17.88	Hold	PER12.5x
04/29/19	Kim Eng	Venture	17.52	19.74	Hold	Roe-g/Coe-g, PB2.2x FY19
05/02/19	Lim & Tan	Venture	16.97	0	Buy on weakness
05/03/19	UOB Kay Hian	Venture	17.4	19.01	Hold	Buy @ $17
06/11/19	Kim Eng	Venture	15.7	19.74	Buy	Roe-g/Coe-g, PB2.2x FY19
06/25/19	Lim & Tan	Venture	17.3	0	Hold
06/26/19	DMG & Partners	Venture	16.46	16.3	Neutral	PER13x FY19
06/26/19	UOB Kay Hian	Venture	16.46	17.91	Hold	PER14x FY19, Buy at $15
06/26/19	CLSA	Venture	16.46	17.3	Underperform
07/05/19	Lim & Tan	Venture	16.35	0	Hold
07/15/19	DBS Vickers	Venture	14.9	18.6	Buy	PER13.7x FY20
07/15/19	UOB Kay Hian	Venture	14.9	17.91	Hold
07/16/19	CIMB	Venture	15	15.73	Hold	PER12.5x CY20
07/22/19	Kim Eng	Venture	15.54	19.74	Buy	Roe-g/Coe-g
08/13/19	Kim Eng	Venture	14.76	18.88	Buy	Roe-g/Coe-g, PB2.2x FY19
08/13/19	DMG & Partners	Venture	14.76	16.3	Buy	PER13x FY19
08/13/19	CIMB	Venture	14.76	16.28	Add	PER12,5x
08/13/19	UOB Kay Hian	Venture	14.76	17.7	Buy	PER14x
08/13/19	DBS Vickers	Venture	14.76	18.6	Buy	PER13.7x FY20
08/13/19	Lim & Tan	Venture	14.76	0	Hold
08/14/19	DIR	Venture	15.28	17.9	Outperform
08/14/19	OCBC	Venture	15.28	18.42	Buy	PER14x
09/09/19	Kim Eng	Venture	15.48	18.88	Buy	Roe-g/Coe-g, PB2.2x FY19
09/11/19	Macquarie	Venture	15.33	17.7	Outperform	Roe-g/Coe-g,PER14x FY19
09/27/19	CIMB	Venture	15.26	16.28	Add
09/30/19	Phillip	Venture	15.27	17.68	Buy	PER14x
10/01/19	UOB Kay Hian	Venture	15.31	17.7	Buy
10/01/19	DBS Vickers	Venture	15.31	18.6	Buy
10/08/19	DMG & Partners	Venture	15.42	16.3	Buy
10/11/19	Phillip	Venture	15.17	17.68	Buy
10/21/19	CIMB	Venture	15.35	16.28	Add	PER12.5x
10/23/19	Macquarie	Venture	15.38	17	Outperform
10/29/19	Kim Eng	Venture	15.29	18.85	Buy	PB2.1x FY20
11/11/19	Phillip	Venture	16.6	17.18	Accumulate	PER14x FY19
11/11/19	Kim Eng	Venture	16.6	16.91	Hold	PB1.8x FY20
11/11/19	DMG & Partners	Venture	16.6	16.3	Neutral	PER13x FY19
11/11/19	CIMB	Venture	16.6	16.88	Hold	PER12.5x
11/11/19	UOB Kay Hian	Venture	16.6	16.67	Hold	PER14x FY20
11/11/19	DBS Vickers	Venture	16.6	17.2	Hold	PER13.7x FY20
11/11/19	Lim & Tan	Venture	16.6	0	Sell
12/10/19	DMG & Partners	Venture	15.76	16.3	Neutral
01/15/20	CIMB	Venture	16.61	16.88	Hold
01/30/20	Kim Eng	Venture	16.14	18.23	Buy
02/24/20	DMG & Partners	Venture	16.77	19.3	Buy	PER15x FY20
02/24/20	UOB Kay Hian	Venture	16.77	19.62	Buy	PER15.4x FY20
02/28/20	CIMB	Venture	16.51	17.66	Add
02/28/20	DBS Vickers	Venture	16.51	18.5	Buy	PER13.9x FY20
02/28/20	UOB Kay Hian	Venture	16.51	19.8	Buy
02/28/20	Lim & Tan	Venture	16.51	0	Buy on weakness
02/28/20	Kim Eng	Venture	16.51	18.23	Buy	PB2x FY20
03/02/20	Phillip	Venture	16.45	18.1	Accumulate	PER14x FY20
03/02/20	OCBC	Venture	16.45	18.09	Buy	PER13.9x
03/05/20	Macquarie	Venture	17.05	17.7	Outperform
03/30/20	Kim Eng	Venture	13.96	13.9	Hold	PB1.5x FY20
03/30/20	DMG & Partners	Venture	13.96	19.3	Buy
04/01/20	UOB Kay Hian	Venture	13.57	15.5	Buy
04/06/20	CIMB	Venture	13.46	17.66	Add
04/15/20	DMG & Partners	Venture	15.58	16.6	Buy	PER15x FY20
04/20/20	Kim Eng	Venture	15.95	13.9	Sell	PB1.5x
04/22/20	CIMB	Venture	15.53	16.78	Add	PER12.5x FY21
05/11/20	Phillip	Venture	15.74	16.6	Accumlate	PER15x FY20
05/11/20	UOB Kay Hian	Venture	15.74	14.46	Hold	Buy @ $13.20
05/11/20	DBS Vickers	Venture	15.74	15.9	Hold	PER12.5x FY21
05/11/20	Lim & Tan	Venture	15.74	0	Hold
05/11/20	DMG & Partners	Venture	15.74	15.1	Hold	PER15x FY20
05/11/20	CIMB	Venture	15.74	16.78	Add
05/11/20	Kim Eng	Venture	15.74	14.66	Hold	PB1.6x
05/14/20	OCBC	Venture	15.74	17.41	Buy