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Wednesday, March 21, 2018

Stock calls for 21 March 2018


Date Analyst Company Last Target Call Valuation
03/21/18 DIR Capitaland 3.68 4.1 Outperform RNAV (20% discount), Up from $4
03/21/18 OCBC Comfortdelgro 2.02 2.25 Buy
03/21/18 UOB Kay Hian Keppel Corp 7.77 9.1 Buy Sum of parts

China may impose anti-dumping measures on US soybean and pork.

https://www.bloombergquint.com/china/2018/03/21/china-newspaper-calls-for-curbs-against-u-s-soybean-dumping

China may impose anti-dumping measures on US soybean and pork in retaliation for US unilateral tariffs imposition against China.

Like the USA, China is also not afraid of a trade war and will fight to protect its own interest.

Another bad news for Noble Group. The debt restructuring process will cost $100m.

https://finance.yahoo.com/news/cost-nobles-restructuring-likely-top-000102185.html

All the lawyers, investment banks and top management are profiteering from Noble's saga.

Noble is a goner when there are so many vultures plundering it.

Tuesday, March 20, 2018

Goldilocks, a major shareholder, has sued Noble group.

https://www.bloombergquint.com/markets/2018/03/20/noble-group-hit-by-lawsuit-from-top-shareholder-as-default-looms

Goldilocks has sued Noble for fraud by fudging its accounts.  Furthermore, S&P has downgraded Noble's rating.

http://www.businesstimes.com.sg/companies-markets/sp-downgrades-noble-rating-to-d

Tee Land - Stock calls


Date Analyst Company Last Target Call Valuation
04/11/16 NRA Tee Land 0.21 0.33 Overweight
08/23/16 NRA Tee Land 0.194 0.325 Overweight RNAV (40% discount)
10/04/16 NRA Tee Land 0.199 0.335 Overweight RNAV (40% discount)
01/20/17 NRA Tee Land 0.195 0.29 Overweight
03/09/18 NRA Tee Land 0.21 0.28 Overweight Sum of parts

Tat Hong - Stock calls


Date Analyst Company Last Target Call Valuation
02/16/16 OCBC Tat Hong 0.43 0.45 Hold PB0.45x
03/16/16 OCBC Tat Hong 0.635 0.45 Hold PB0.45x
05/16/16 OCBC Tat Hong 0.51 0.45 Hold
05/30/16 OCBC Tat Hong 0.52 0.5 Hold PB0.55x
06/20/16 OCBC Tat Hong 0.54 0.5 Hold
07/05/16 OCBC Tat Hong 0.57 0.5 Hold
07/13/16 OCBC Tat Hong 0.56 0.55 Hold PB0.6x
08/15/16 OCBC Tat Hong 0.535 0.55 Hold
08/19/16 OCBC Tat Hong 0.525 0.54 Hold PB0.6x
09/19/16 OCBC Tat Hong 0.485 0.49 Hold PB0.55x
11/08/16 OCBC Tat Hong 0.46 0.49 Hold PB0.55x
11/16/16 OCBC Tat Hong 0.39 0.4 Hold PB0.5x
01/09/17 OCBC Tat Hong 0.345 0.4 Hold
02/15/17 OCBC Tat Hong 0.39 0.4 Hold
03/10/17 OCBC Tat Hong 0.375 0.4 Hold
05/18/17 OCBC Tat Hong 0.37 0.4 Hold
08/15/17 OCBC Tat Hong 0.34 0.4 Hold
08/17/17 OCBC Tat Hong 0.36 0.37 Hold

Stock calls for 20 March 2018


Date Analyst Company Last Target Call Valuation
03/20/18 DBS Vickers APAC Realty 1.19 1.42 Buy DCF & PER15x FY18
03/20/18 Kim Eng Bukit Sembawang 6.03 8.55 Buy RNAV (20% discount)
03/20/18 Kim Eng Capitaland 3.67 4.1 Buy
03/20/18 DMG & Partners China Aviation Oil 1.54 1.8 Buy PER12.2x FY18, PEG1x FY18
03/20/18 UOB Kay Hian Chip Eng Seng 0.94 1.38 Buy Sum of parts
03/20/18 DBS Vickers Chip Eng Seng 0.94 1.18 Buy Sum of parts
03/20/18 DMG & Partners City Developments 13.25 15 Buy RNAV (10% discount), Up froM $14.12 (RNAV 20% discount)
03/20/18 Kim Eng DBS 28.07 29.66 Hold
03/20/18 CIMB Guocoland 2.11 2.88 Add RNAV (25% discount)
03/20/18 Kim Eng Guocoland 2.11 3 Buy RNAV (20% discount)
03/20/18 DBS Vickers IHH Healthcare 2.02 2.29 Buy Ringgit $6.81 target
03/20/18 UOB Kay Hian M1 1.79 1.6 Sell
03/20/18 Kim Eng OCBC 13.18 14.83 Buy
03/20/18 DBS Vickers Religare Health Trust 0.775 0.85 Hold
03/20/18 DBS Vickers Roxy-Pacific 0.555 0.69 Buy RNAV (30% discount)
03/20/18 UOB Kay Hian Starhub 2.43 2.25 Sell
03/20/18 Kim Eng UOB 28.1 31.08 Buy
03/20/18 Kim Eng UOL 8.69 10.4 Buy
03/20/18 Lim & Tan Yuuzoo 0.038 0 Sell/Avoid

Fund managers are starting to dump Noble Group shares.

https://www.businesstimes.com.sg/companies-markets/fund-managers-prudential-orbis-dispose-noble-shares

Fund managers have lost faith in Noble Group and have started to dump the shares.

It may be better to dump the Noble shares in the open market now than to have their stakes diluted to 15% after the debt restructuring if the plan is successful.  If the restructuring plan fails, then Noble will be heading into bankruptcy which will make the shares worthless.

This is the rationale behind the shares dumping because the fund managers are starting to lose hope.

The despicable USA is creating troubles again.

https://www.bloombergquint.com/business/2018/03/19/u-s-said-to-seek-alliance-against-china-in-tariff-relief-talks

We know the malicious intention of the US tariff now.

The tariff is just a pawn used to compel other countries to support the USA in exchange for tariff exclusions for any anti-China policies.

Like I said many times before, the USA is a bigger evil compared to China.

Bitcoin escapes unscathed from the G20 summit.

https://finance.yahoo.com/news/bitcoin-now-focus-shifts-g20-063351716.html

Bitcoin is lucky to escape unscathed from the G20 summit because G20 focuses on the US trade wars instead.

However, once the bigger issue (trade war) is resolved, the G20 will focus back on cryptocurrency.

USA national debt has just crossed US$21T.

https://www.cbsnews.com/news/under-donald-trump-national-debt-tops-21-trillion-for-first-time-ever/

The USA will find it increasingly difficult to fund its economic developments with credit financing because the recent bond sales have been underwhelming.  The USA is currently paying about US$200b in interest on a monthly basis.  How long do you think the USA is capable of paying its national debt dues?

The USA national debt is expected to top US$30T within the next decade.

Do you still have faith in the USA's economy?


Monday, March 19, 2018

How private car hiring businesses like Uber drove ordinary citizens into financial despair.

https://qz.com/1230993/the-reality-of-driving-for-ola-and-uber-in-india-debt-slashed-pay-multiple-jobs/?utm_source=YPL&yptr=yahoo

Ordinary people from developing countries were lured into the private car hiring industry with the promises of good pay and flexible working hours.  These people committed to car purchases because they didn't foresee that their future incentives would be cut by these companies.

These people get stuck now and their cars will be repossessed by the banks or finance companies, leaving them in great financial despairs.

Talkmed - Stock calls


Date Analyst Company Last Target Call Valuation
02/29/16 CIMB Talkmed 0.885 1.29 Add DCF
05/18/16 CIMB Talkmed 0.9 1.29 Add
08/05/16 CIMB Talkmed 0.99 1.26 Add DCF
11/14/16 CIMB Talkmed 1.02 1.32 Add DCF
02/23/17 CIMB Talkmed 1.385 1.82 Add DCF
02/28/17 DMG & Partners Talkmed 1.43 2.07 Buy DCF, PER32x FY17
03/06/17 CIMB Talkmed 1.49 1.83 Add
04/26/17 DMG & Partners Talkmed 1.775 2.07 Buy DCF, PER30x FY18
04/27/17 CIMB Talkmed 1.73 1.83 Hold DCF
06/29/17 DMG & Partners Talkmed 0.645 0.73 Buy Ex-bonus 1 for 1
10/02/17 DMG & Partners Talkmed 0.585 0.69 Buy
11/08/17 DMG & Partners Talkmed 0.705 0.72 Neutral PER29x FY18
01/08/18 CIMB Talkmed 0.69 0.68 Hold DCF
02/21/18 DMG & Partners Talkmed 0.675 0.72 Neutral DCF

SUTL - Stock calls


Date Analyst Company Last Target Call Valuation
03/02/17 UOB Kay Hian SUTL 0.665 0 Buy
03/09/17 Amfrasers SUTL 0.77 1.09 Buy DCF, EV/Ebitda8.8x
05/12/17 Amfrasers SUTL 0.9 1.09 Buy
08/25/17 Amfrasers SUTL 0.735 1.04 Buy
10/11/17 Amfrasers SUTL 0.69 1.04 Buy

Suntec Reit - Stock calls


Date Analyst Company Last Target Call Valuation
01/05/16 UOB Kay Hian Suntec Reit 1.555 1.81 Buy
01/08/16 DBS Vickers Suntec Reit 1.56 1.58 Hold
01/14/16 Kim Eng Suntec Reit 1.55 1.33 Sell Yield 7.25% FY16
01/26/16 Deutsche Suntec Reit 1.52 1.45 Sell
01/27/16 CIMB Suntec Reit 1.51 1.66 Hold DDM
01/27/16 Credit Suisse Suntec Reit 1.51 1.36 Underperform
01/27/16 DMG & Partners Suntec Reit 1.51 1.31 Sell DDM, PB0.61x FY15
01/27/16 Kim Eng Suntec Reit 1.51 1.4 Sell Yield 7.25% FY16
01/27/16 OCBC Suntec Reit 1.51 1.51 Hold
01/28/16 DIR Suntec Reit 1.53 1.48 Hold DDM
02/02/16 DIR Suntec Reit 1.53 1.47 Hold DDM
02/25/16 Deutsche Suntec Reit 1.65 1.45 Sell
02/25/16 JP Morgan Suntec Reit 1.65 1.35 Underweight Cut from $1.45
03/07/16 CIMB Suntec Reit 1.71 1.66 Hold
03/14/16 DIR Suntec Reit 1.67 1.49 Underperform DDM
03/17/16 DMG & Partners Suntec Reit 1.675 1.31 Sell
03/24/16 Deutsche Suntec Reit 1.69 1.45 Sell
03/30/16 UOB Kay Hian Suntec Reit 1.675 1.81 Buy
04/05/16 Deutsche Suntec Reit 1.665 1.45 Sell
04/13/16 Kim Eng Suntec Reit 1.665 1.56 Hold Yield 6.5%
04/22/16 CIMB Suntec Reit 1.745 1.67 Hold DDM
04/22/16 DBS Vickers Suntec Reit 1.745 1.58 Hold
04/22/16 DIR Suntec Reit 1.745 1.51 Underperform DDM
04/22/16 DMG & Partners Suntec Reit 1.745 1.31 Sell DDM
04/22/16 Lim & Tan Suntec Reit 1.745 0 Hold
04/22/16 OCBC Suntec Reit 1.745 1.51 Sell
04/27/16 UOB Kay Hian Suntec Reit 1.7 1.81 Buy
05/17/16 Deutsche Suntec Reit 1.64 1.45 Sell
05/17/16 Kim Eng Suntec Reit 1.64 1.56 Hold
06/07/16 Credit Suisse Suntec Reit 1.675 1.36 Underperform
06/23/16 JP Morgan Suntec Reit 1.68 1.5 Underweight
06/23/16 Kim Eng Suntec Reit 1.68 1.56 Hold
07/04/16 DMG & Partners Suntec Reit 1.78 1.31 Sell
07/18/16 UOB Kay Hian Suntec Reit 1.795 1.94 Hold
07/19/16 Credit Suisse Suntec Reit 1.795 1.43 Underperform
07/22/16 CIMB Suntec Reit 1.785 1.67 Reduce DDM
07/22/16 DBS Vickers Suntec Reit 1.785 1.7 Hold
07/22/16 DIR Suntec Reit 1.785 1.53 Underperform DDM
07/22/16 DMG & Partners Suntec Reit 1.785 1.5 Sell
07/22/16 JP Morgan Suntec Reit 1.785 1.6 Underweight
07/22/16 Kim Eng Suntec Reit 1.785 1.69 Hold
07/22/16 OCBC Suntec Reit 1.785 1.54 Sell
07/22/16 Religare Suntec Reit 1.785 1.66 Hold
07/26/16 Deutsche Suntec Reit 1.73 1.45 Sell
08/01/16 UOB Kay Hian Suntec Reit 1.67 1.9 Hold DDM
08/08/16 Deutsche Suntec Reit 1.69 1.55 Sell
08/08/16 OCBC Suntec Reit 1.69 1.54 Sell
08/10/16 CIMB Suntec Reit 1.7 1.68 Hold DDM
08/10/16 DBS Vickers Suntec Reit 1.7 1.71 Hold
08/10/16 DMG & Partners Suntec Reit 1.7 1.53 Neutral DDM
08/30/16 DIR Suntec Reit 1.68 1.54 Underperform DDM
09/05/16 DBS Vickers Suntec Reit 1.7 1.71 Hold
09/07/16 Credit Suisse Suntec Reit 1.755 1.43 Underperform
09/09/16 Kim Eng Suntec Reit 1.77 1.81 Hold
10/14/16 DIR Suntec Reit 1.715 1.54 Underperform DDM
10/21/16 CIMB Suntec Reit 1.73 1.68 Hold DDM
10/21/16 Credit Suisse Suntec Reit 1.73 1.43 Underperform
10/21/16 DBS Vickers Suntec Reit 1.73 1.71 Hold DCF
10/21/16 Kim Eng Suntec Reit 1.73 1.77 Hold Yield 5.5%
10/21/16 OCBC Suntec Reit 1.73 1.53 Sell
10/21/16 UOB Kay Hian Suntec Reit 1.73 1.9 Hold DDM
11/09/16 DBS Vickers Suntec Reit 1.67 1.71 Hold
11/16/16 Deutsche Suntec Reit 1.59 1.55 Sell
11/16/16 JP Morgan Suntec Reit 1.59 1.55 Underweight
12/05/16 DMG & Partners Suntec Reit 1.67 1.53 Neutral
12/06/16 Kim Eng Suntec Reit 1.685 1.77 Hold
12/07/16 Deutsche Suntec Reit 1.7 1.55 Sell
12/09/16 UOB Kay Hian Suntec Reit 1.715 1.8 Hold
01/09/17 DBS Vickers Suntec Reit 1.68 1.71 Hold DCF
01/11/17 Kim Eng Suntec Reit 1.72 1.77 Hold
01/25/17 OCBC Suntec Reit 1.685 1.53 Sell
01/26/17 CIMB Suntec Reit 1.695 1.55 Reduce DDM
01/26/17 Credit Suisse Suntec Reit 1.695 1.46 Underperform
01/26/17 DBS Vickers Suntec Reit 1.695 1.75 Hold DCF
01/26/17 DIR Suntec Reit 1.695 1.46 Underperform DDM
01/26/17 DMG & Partners Suntec Reit 1.695 1.53 Neutral DDM
01/26/17 OCBC Suntec Reit 1.695 1.54 Hold DDM
01/26/17 UOB Kay Hian Suntec Reit 1.695 1.8 Hold DDM
02/09/17 Credit Suisse Suntec Reit 1.73 1.43 Underperform
02/17/17 JP Morgan Suntec Reit 1.725 1.85 Neutral
02/28/17 Deutsche Suntec Reit 1.71 1.6 Sell
03/07/17 UOB Kay Hian Suntec Reit 1.74 1.8 Hold
03/10/17 DMG & Partners Suntec Reit 1.73 1.53 Neutral
04/07/17 DMG & Partners Suntec Reit 1.79 1.53 Neutral
04/11/17 UOB Kay Hian Suntec Reit 1.79 1.8 Hold DDM
04/18/17 DIR Suntec Reit 1.75 1.46 Underperform
04/18/17 Kim Eng Suntec Reit 1.75 1.76 Hold
04/27/17 DIR Suntec Reit 1.755 1.5 Underperform DDM
04/27/17 OCBC Suntec Reit 1.755 1.68 Hold
05/25/17 Deutsche Suntec Reit 1.8 1.7 Hold
05/25/17 UOB Kay Hian Suntec Reit 1.8 1.9 Hold
06/22/17 Deutsche Suntec Reit 1.84 1.7 Hold
07/11/17 Kim Eng Suntec Reit 1.87 1.76 Hold
07/12/17 DMG & Partners Suntec Reit 1.86 1.53 Neutral
07/26/17 UOB Kay Hian Suntec Reit 1.93 1.9 Hold DDM
07/27/17 CIMB Suntec Reit 1.92 1.77 Reduce DDM
07/27/17 DIR Suntec Reit 1.92 1.63 Underperform DDM
07/27/17 UOB Kay Hian Suntec Reit 1.92 1.95 Hold DDM
07/27/17 DMG & Partners Suntec Reit 1.92 1.75 Neutral DDM
07/27/17 OCBC Suntec Reit 1.92 1.8 Hold
07/27/17 Kim Eng Suntec Reit 1.92 1.8 Hold Yield 5.5%
07/27/17 Religare Suntec Reit 1.92 1.66 Hold
08/17/17 DBS Vickers Suntec Reit 1.895 1.95 Hold DCF
09/21/17 DMG & Partners Suntec Reit 1.875 1.75 Neutral
09/25/17 Kim Eng Suntec Reit 1.855 1.8 Hold
10/23/17 UOB Kay Hian Suntec Reit 1.91 1.95 Hold
10/27/17 OCBC Suntec Reit 1.93 1.8 Hold
10/30/17 UOB Kay Hian Suntec Reit 1.93 2.05 Hold DDM
10/30/17 CIMB Suntec Reit 1.93 1.83 Reduce DDM
10/30/17 DBS Vickers Suntec Reit 1.93 1.95 Hold
11/20/17 DIR Suntec Reit 1.97 1.63 Underperform DDM
12/01/17 UOB Kay Hian Suntec Reit 2.04 2.13 Hold
12/15/17 DBS Vickers Suntec Reit 2.07 2.3 Buy DCF
12/18/17 Kim Eng Suntec Reit 2.12 1.89 Hold Target yield 5.25%, Up from $1.84
01/04/18 Deutsche Suntec Reit 2.14 2.05 Hold
01/05/18 DMG & Partners Suntec Reit 2.17 1.75 Neutral
01/25/18 CIMB Suntec Reit 2.15 2.17 Hold DDM
01/25/18 DBS Vickers Suntec Reit 2.15 2.3 Buy DCF
01/25/18 OCBC Suntec Reit 2.15 1.81 Sell
01/25/18 Kim Eng Suntec Reit 2.15 1.91 Hold
01/26/18 UOB Kay Hian Suntec Reit 2.14 2.13 Hold DDM
02/20/18 DBS Vickers Suntec Reit 1.97 2.3 Buy

Stock calls for 19 March 2018


Date Analyst Company Last Target Call Valuation
03/19/18 DBS Vickers A-Reit 2.66 2.85 Buy
03/19/18 DBS Vickers AIMS AMP Cap Ind Reit 1.38 1.57 Not Rated
03/19/18 DMG & Partners Breadtalk 1.94 2 Take Profit Sum of parts
03/19/18 DBS Vickers CapitaRetail China 1.58 1.8 Buy
03/19/18 DBS Vickers Cromwell Reit (EUR) 0.56 0.63 Buy
03/19/18 phillip F & N 2.25 2.83 Buy
03/19/18 phillip Geo Energy 0.225 0.47 Buy PER10x
03/19/18 DBS Vickers Keppel DC Reit 1.4 1.6 Buy
03/19/18 DBS Vickers Keppel Reit 1.21 1.41 Buy
03/19/18 phillip Old Chang Kee 0.76 0.98 Buy
03/19/18 DBS Vickers OUE Commercial 0.715 0.73 Hold
03/19/18 phillip Sheng Siong 0.945 1.13 Buy
03/19/18 UOB Kay Hian Singapore Medical 0.51 0.74 Buy PER25.8x FY18
03/19/18 DBS Vickers Starhill 0.725 0.82 Buy
03/19/18 Phillip Thai Beverage 0.815 1.05 Buy

Noble has defaulted on its bond coupon.

https://www.businesstimes.com.sg/stocks/hot-stock-noble-plunges-16-after-decision-not-to-pay-us379m-bond-due-tuesday

Noble is trying to play punk now by defaulting on its bond coupon payment and insisting that it won't repay any missed payment.

This shows that Noble is in a very serious financial situation and will collapse anytime soon.

Saturday, March 17, 2018

India is trying to get cozy with China after getting spurned by the USA.

http://www.bbc.com/news/world-asia-india-19473365

India has decided to get cozy with China after getting spurned by the USA.

This is a complete change in stance by India because India has been so anti-China.  This joint-military exercise is a significant milestone for both countries.

http://sg-stock.blogspot.sg/2018/03/india-has-to-pay-much-higher-price-to.html

Look like India is starting to see the true colours of the USA.

Baltic dry index - 1143

Today, Friday, March 16 2018, the Baltic Dry Index decreased by 7 points, reaching 1143 points.
Baltic Dry Index is compiled by the London-based Baltic Exchange and covers prices for transported cargo such as coal, grain and iron ore. The index is based on a daily survey of agents all over the world. Baltic Dry hit a temporary peak on May 20, 2008, when the index hit 11,793. The lowest level ever reached was on Wednesday the 10th of February 2016, when the index dropped to 290 points.
==========================
Related Stocks: Sembcorp Marine, Cosco & Pan Ocean.

US rig count - 990

HOUSTON, March 16 - The U.S. rig count added six this week, building on weeks of consistent but slow growth, according to weekly data collected by Baker Hughes released on Friday.
Houston oilfield services company Baker Hughes reported that the number of oil-seeking rigs increased by four this week, for a total of 800 active oil wells in the country -- a figure that is 169 more than this time last year.
The total number of oil and gas rigs now stands at 990, which is an addition of 201 rigs year on year.
The overall rig count, including oil and gas rigs, has sat below 1,000 since April 2015 when oil prices were collapsing.
=========================
Related stocks: Keppel Corp, Sembcorp Marine, Cosco.

Friday, March 16, 2018

Sunningdale - Stock calls


Date Analyst Company Last Target Call Valuation
03/29/16 CIMB Sunningdale 1.07 1.49 Add PB0.8x CY16
08/04/16 CIMB Sunningdale 1 1.44 Add PB0.8x FY16
10/31/16 CIMB Sunningdale 1.055 1.51 Add PB0.8x FY17
11/18/16 CIMB Sunningdale 1.09 1.51 Add
12/06/16 CIMB Sunningdale 1.09 1.51 Add
02/28/17 CIMB Sunningdale 1.285 1.56 Add
02/28/17 Lim & Tan Sunningdale 1.285 0 Buy
03/06/17 UOB Kay Hian Sunningdale 1.365 1.83 Buy
03/09/17 DBS Vickers Sunningdale 1.445 1.64 Not Rated PER10x FY17
04/07/17 UOB Kay Hian Sunningdale 1.76 1.83 Hold PER11x FY17, Buy @ $1.65
05/15/17 Lim & Tan Sunningdale 1.84 0 Buy
05/15/17 UOB Kay Hian Sunningdale 1.84 2.04 Buy
05/16/17 CIMB Sunningdale 1.835 2.19 Add PB1.11x FY17
05/25/17 DBS Vickers Sunningdale 1.95 2.62 Buy PER13x FY18
07/05/17 CIMB Sunningdale 1.765 2.19 Add PB1.11x FY17
07/28/17 Lim & Tan Sunningdale 1.995 0 Buy
08/03/17 UOB Kay Hian Sunningdale 2.05 2.51 Buy PER11.4x FY18, PB1.34x FY16
08/03/17 DBS Vickers Sunningdale 2.05 2.62 Buy PER13x FY18
08/03/17 Lim & Tan Sunningdale 2.05 0 Buy
08/04/17 CIMB Sunningdale 2.15 2.19 Add PB1.11x FY17
08/04/17 DBS Vickers Sunningdale 2.15 2.7 Buy PER13x FY18
10/02/17 DBS Vickers Sunningdale 1.97 2.7 Buy PER13x FY18
10/03/17 NRA Sunningdale 2.02 2.73 Not Rated PER13.46x
10/30/17 CIMB Sunningdale 2.14 2.86 Add PB1.36x FY18
11/09/17 CIMB Sunningdale 2.25 2.79 Add PB1.33x FY18
11/09/17 Lim & Tan Sunningdale 2.25 0 Buy
11/10/17 UOB Kay Hian Sunningdale 2.15 2.51 Buy PER11.4x FY18
11/10/17 DBS Vickers Sunningdale 2.15 2.7 Buy PER13x FY18
12/06/17 DBS Vickers Sunningdale 1.89 2.7 Buy
12/20/17 CIMB Sunningdale 1.84 2.79 Add
01/10/18 CIMB Sunningdale 1.92 2.79 Add
02/07/18 CIMB Sunningdale 1.86 2.79 Add
02/23/18 CIMB Sunningdale 1.93 2.82 Add
02/23/18 UOB Kay Hian Sunningdale 1.93 2.51 Buy PER11.4x FY18
02/23/18 DBS Vickers Sunningdale 1.93 2.7 Buy PER13x FY18
02/23/18 Lim & Tan Sunningdale 1.93 0 Buy on weakness

Straits Trading - Stock calls


Date Analyst Company Last Target Call Valuation
04/10/17 OCBC Straits Trading 2.27 2.73 Buy
05/16/17 OCBC Straits Trading 2.31 2.73 Buy

Stock calls for 16 March 2018


Date Analyst Company Last Target Call Valuation
03/16/18 phillip Golden Energy 0.37 0.48 Buy PER10x
03/16/18 UOB Kay Hian Singapore Post 1.37 1.6 Buy Sum of parts
03/16/18 Amfrasers Uni-Asia 1.45 1.81 Buy Sum of parts, PB0.5x FY18, PER10x FY18
03/16/18 CIMB UOL 8.79 9.67 Add
03/16/18 OCBC Yangzijiang 1.3 1.34 Hold Sum of parts

Singapore NODX fell 5.9% in February 2018.

https://sg.finance.yahoo.com/news/nodx-slipped-5-9-february-034700646.html

Year on year changes (YOY):

February 2018: -5.9%
January 2018: 13%
December 2017: 3.1%
November 2017: 9.1%
October 2017: 20.9%
September 2017: -1.1%
August 2017: 16.7%
July 2017: 8.5%
June 2017: 8.2%
May 2017: -1.2%
Apr 2017: -0.7%
Mar 2017: 16.5%
Feb 2017: 21.1%
Jan 2017: 8.6%

Analysts attributed the fall in Feb NODX to the Lunar New Year holiday as exports to China plunged heavily.  However, the JAN & FEB 2017 NODX increased by 8.6% and 21.1% respectively.  Therefore, the FEB 2018 fall is not purely due to the CNY effect because CNY usually occurs in Jan or Feb.

What the NODX's trend is showing is that the Singapore economy is closely tied to China now.

https://sg-stock.blogspot.sg/2018/02/singapores-nodx-upped-13-yoy-in-january.html

Thursday, March 15, 2018

The USA budget deficit widened to a 6-year high in February 2018 to USD$215b.

http://money.cnn.com/2018/03/12/news/economy/budget-deficit/index.html

https://tradingeconomics.com/united-states/government-budget-value

The USA budget deficit widened to a 6-year high in February 2018 to USD$215b.  This shows that the USA economy is based on credit financing and the USA has to keep issuing government bonds to fund its economy.  If the interest rates go up too fast, the USA will have a heavy burden to finance its national debt of more than US$20t.  If the USA has to borrow US$200b per month to finance its economic growth, it is subjecting itself to a very dicey situation because the recent bond sales are underwhelming.

What is this budget deficit?

We'll explain budget deficit in a simplified way.

First, there must be a fiscal deficit before the budget deficit.  Fiscal deficit happens when the government's revenue cannot meet its expenditure, resulting in a shortfall.  Then, the government has to borrow money to meet this cash shortfall and this is what we called a budget deficit.

When the revenue is equal to the expenditure, the budget is neutral (no surplus or deficit).

It is a big mistake to get Australia involved in ASEAN.

https://www.theguardian.com/world/2018/mar/15/australia-warned-against-dancing-with-dictators-at-asean-summit-in-sydney

When did Australia become the ASEAN policing authority for ASEAN?

It is really a big mistake to get Australia involved in ASEAN.  Singapore, as the chairman of ASEAN 2018, should stop Australia from pushing and imposing its own agenda and values on ASEAN.

Singapore is creating ramification in ASEAN when it doesn't take action against Australia.  Australia is provoking the ire of developing ASEAN countries and ASEAN will become a less effective and cohesive entity.

https://sg-stock.blogspot.sg/2018/03/ramification-will-increase-in-asean.html


India has to pay a much higher price to get cozy with the USA.

https://www.channelnewsasia.com/news/business/us-launches-wto-action-on-indian-export-subsidies-10044250

There is no free lunch in this world and India has to pay a high price to get cozy with the USA so that it can become part of the USA's allies to contain China.

Is it worth to pay for such a high price to become the USA's lackey?

http://sg-stock.blogspot.sg/2018/02/india-has-to-pay-high-price-to-be-usa.html