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Wednesday, March 28, 2018

UOB Bank - Stock calls


Date Analyst Company Last Target Call Valuation
01/05/16 CIMB UOB 19.09 20 Hold
01/05/16 Goldman Sachs UOB 19.09 20.6 Neutral
01/08/16 DIR UOB 18.38 21.6 Buy
01/18/16 Deutsche UOB 17.6 20 Hold GGM, PB1.1x
01/18/16 DMG & Partners UOB 17.6 21.7 Neutral GGM, PB1.15x FY16
01/26/16 JP Morgan UOB 18 18 Neutral
01/26/16 Macquarie UOB 18 20 Outperform PB
01/29/16 Credit Suisse UOB 17.57 22.8 Neutral
01/29/16 Goldman Sachs UOB 17.57 20.1 Neutral
02/11/16 UBS UOB 17.56 19.8 Buy PER9.9x FY16
02/16/16 Bloomberg UOB 17.85 21.5 Buy Consensus target
02/16/16 HSBC UOB 17.85 25.2 Buy
02/16/16 Lim & Tan UOB 17.85 0 Buy
02/17/16 Amfrasers UOB 17.81 17.37 Hold
02/17/16 CIMB UOB 17.81 19.31 Hold GGM, PB1.06x CY16
02/17/16 DBS Vickers UOB 17.81 18.8 Hold GGM, PB1x FY16
02/17/16 DIR UOB 17.81 19.5 Outperform Warranted equity method
02/17/16 DMG & Partners UOB 17.81 19.1 Neutral GGM, PB1.01x FY16, PER9.9x
02/17/16 Jefferies UOB 17.81 16 Hold
02/17/16 Kim Eng UOB 17.81 16.96 Hold PB0.9x FY16
02/17/16 Macquarie UOB 17.81 17.5 Neutral
02/26/16 Credit Suisse UOB 16.81 19 Neutral
03/04/16 JP Morgan UOB 18.21 15 Underweight
03/07/16 DMG & Partners UOB 18.5 19.1 Neutral
03/24/16 DIR UOB 18.88 24.6 Buy
03/24/16 Kim Eng UOB 18.88 16.96 Hold
04/07/16 Credit Suisse UOB 18.71 19 Neutral
04/07/16 UBS UOB 18.71 19.4 Neutral
04/26/16 HSBC UOB 19.52 25.2 Buy GGM, PB1.3x FY15, PER13x FY15
04/27/16 DIR UOB 19.39 24.6 Buy
04/28/16 CIMB UOB 18.88 18.74 Hold GGM, PB0.98x CY16
04/28/16 OCBC UOB 18.88 20.05 Hold Cut from $20.15
04/29/16 Amfrasers UOB 18.85 17.37 Hold
04/29/16 DBS Vickers UOB 18.85 18.8 Hold
04/29/16 DIR UOB 18.85 24.9 Buy GGM, PB1.27x
04/29/16 Jefferies UOB 18.85 16 Hold
04/29/16 Macquarie UOB 18.85 17 Neutral
04/29/16 phillip UOB 18.85 18.15 Neutral PB0.95x FY16
05/04/16 CIMB UOB 18.4 18.74 Hold GGM, PB0.98x CY16
05/06/16 Credit Suisse UOB 18.1 19 Neutral
05/10/16 DIR UOB 17.88 24.9 Buy Warranted equity method
05/10/16 Goldman Sachs UOB 17.88 19.3 Neutral
05/30/16 Kim Eng UOB 18.21 16.96 Hold
06/09/16 DIR UOB 18.98 24.9 Buy
06/09/16 Goldman Sachs UOB 18.98 20.4 Neutral
06/14/16 Deutsche UOB 18.3 20 Hold
07/01/16 Goldman Sachs UOB 18.42 20 Neutral
07/01/16 Kim Eng UOB 18.42 16.96 Hold
07/05/16 DMG & Partners UOB 18.54 18.85 Neutral
07/19/16 DIR UOB 18.93 24.9 Buy Warranted equity method
07/29/16 CIMB UOB 18.7 18.52 Hold GGM
07/29/16 Credit Suisse UOB 18.7 19 Neutral
07/29/16 DBS Vickers UOB 18.7 17.7 Hold
07/29/16 Goldman Sachs UOB 18.7 19.7 Neutral
07/29/16 Jefferies UOB 18.7 16.5 Hold
07/29/16 Kim Eng UOB 18.7 18.34 Hold PB0.9x FY17
07/29/16 Lim & Tan UOB 18.7 0 Hold
07/29/16 Macquarie UOB 18.7 18 Neutral
07/29/16 OCBC UOB 18.7 19.61 Hold
08/01/16 phillip UOB 18.2 17.95 Neutral PB0.95x FY16
08/01/16 UOB Kay Hian UOB 18.2 18.26 Not Rated
08/12/16 Credit Suisse UOB 17.87 19.26 Neutral
08/18/16 Kim Eng UOB 17.56 18.34 Hold
09/09/16 Credit Suisse UOB 18.78 21.2 Outperform
09/19/16 Kim Eng UOB 18.86 18.34 Hold
09/28/16 DIR UOB 18.8 24.9 Buy
10/03/16 Kim Eng UOB 18.83 18.34 Hold
10/05/16 DMG & Partners UOB 18.85 18.85 Neutral
10/12/16 Goldman Sachs UOB 18.77 19.7 Neutral
10/17/16 DIR UOB 18.32 24.9 Buy
10/19/16 CIMB UOB 18.52 18.52 Hold
10/28/16 Lim & Tan UOB 18.94 0 Hold
10/31/16 CIMB UOB 18.63 18.42 Hold GGM, PB0.92x CY17
10/31/16 DBS Vickers UOB 18.63 18.1 Hold
10/31/16 DIR UOB 18.63 24 Buy GGM, PB1.21x
10/31/16 Kim Eng UOB 18.63 18.36 Hold PB0.9x FY17
10/31/16 phillip UOB 18.63 17.63 Neutral PB0.95x FY16
11/07/16 Credit Suisse UOB 18.44 21.2 Outperform
11/07/16 Jefferies UOB 18.44 17 Hold
11/25/16 Credit Suisse UOB 19.9 23.41 Outperform
11/25/16 Kim Eng UOB 19.9 18.36 Hold
11/28/16 DIR UOB 19.88 24 Buy
12/05/16 Kim Eng UOB 20.56 18.36 Hold
12/06/16 CIMB UOB 20.78 18.42 Hold GGM, PB0.92x CY17
12/07/16 DBS Vickers UOB 20.83 21.8 Hold GGM, PB1.1x FY17
12/07/16 Deutsche UOB 20.83 19 Hold
01/03/17 DMG & Partners UOB 20.4 18.9 Neutral
01/04/17 Kim Eng UOB 20.41 18.36 Hold
01/05/17 Credit Suisse UOB 20.62 23.41 Outperform
01/11/17 DIR UOB 20.99 24 Buy
01/16/17 Jefferies UOB 21.03 17 Underperform
01/16/17 phillip UOB 21.03 18.97 Reduce PB0.95x FY17
01/26/17 DMG & Partners UOB 20.99 22.9 Buy GGM
01/26/17 UBS UOB 20.99 18.8 Sell
02/02/17 Lim & Tan UOB 20.98 0 Hold
02/03/17 CIMB UOB 20.63 18.42 Hold
02/06/17 Macquarie UOB 20.38 20.5 Neutral
02/20/17 CIMB UOB 21.18 20.37 Hold GGM, PB1.02x CY17
02/20/17 Credit Suisse UOB 21.18 24.3 Outperform
02/20/17 DBS Vickers UOB 21.18 22.7 Buy GGM, PB1.1x FY17
02/20/17 DIR UOB 21.18 24.3 Buy GGM, PB1.19x
02/20/17 DMG & Partners UOB 21.18 23.9 Buy GGM, PB1.2x FY17
02/20/17 Kim Eng UOB 21.18 19.54 Hold
02/20/17 Lim & Tan UOB 21.18 0 Take profit
02/20/17 OCBC UOB 21.18 20.55 Hold
02/20/17 phillip UOB 21.18 18.92 Reduce PB0.95x FY17
03/03/17 CIMB UOB 21.55 20.37 Hold
03/03/17 Jefferies UOB 21.55 19 Hold
03/06/17 Macquarie UOB 21.54 20.55 Neutral
03/13/17 Credit Suisse UOB 21.39 24.3 Outperform
03/17/17 DBS Vickers UOB 21.75 22.7 Buy
03/21/17 Kim Eng UOB 21.86 19.54 Hold
04/03/17 Kim Eng UOB 22.11 19.54 Hold
04/18/17 DIR UOB 21.65 24.3 Buy
04/25/17 CIMB UOB 21.88 20.37 Hold
05/02/17 CIMB UOB 21.8 21.2 Hold GGM, PB1.05x CY17
05/02/17 DBS Vickers UOB 21.8 22.7 Buy GGM, PB1.1x FY17
05/02/17 DIR UOB 21.8 25 Buy PB1.19x
05/02/17 DMG & Partners UOB 21.8 23.9 Buy GGM, PB1.2x FY17
05/02/17 OCBC UOB 21.8 21.66 Hold
05/02/17 phillip UOB 21.8 19.2 Reduce PB0.95x FY17
05/03/17 Macquarie UOB 22.8 20.5 Neutral
05/16/17 Credit Suisse UOB 23.66 24.3 Outperform
05/23/17 Jefferies UOB 23.38 22.5 Hold
05/25/17 DMG & Partners UOB 23.46 25.95 Buy
05/29/17 Kim Eng UOB 23.37 20.8 Hold
06/14/17 Kim Eng UOB 23.63 20.8 Hold PB1.1x FY18
06/28/17 DMG & Partners UOB 22.84 25.95 Buy
07/03/17 Kim Eng UOB 23.12 20.8 Hold
07/12/17 Credit Suisse UOB 23.25 25.6 Outperform
07/28/17 Lim & Tan UOB 24.6 0 Hold
07/28/17 UBS UOB 24.6 22.5 Sell
07/31/17 Macquarie UOB 24.05 21.5 Neutral
07/31/17 phillip UOB 24.05 20.18 Reduce GGM, PB1.01x FY17
07/31/17 DIR UOB 24.05 26.4 Outperform GGM, PB1.23x
07/31/17 DMG & Partners UOB 24.05 26.5 Buy GGM, PB1.31x FY17
07/31/17 CIMB UOB 24.05 24.28 Hold GGM
07/31/17 DBS Vickers UOB 24.05 24.8 Hold GGM, PB1.2x FY18
07/31/17 OCBC UOB 24.05 23 Hold Buy @ $22 or lower
08/18/17 Macquarie UOB 23.6 21.5 Neutral
08/22/17 Kim Eng UOB 23.45 26.4 Buy GGM, PB1.1x FY18
08/23/17 DBS Vickers UOB 23.59 24.8 Hold
08/23/17 Deutsche UOB 23.59 24 Hold
08/29/17 Credit Suisse UOB 23.7 25.6 Outperform
09/12/17 DMG & Partners UOB 23.38 26.5 Buy PB1x FY18
09/18/17 phillip UOB 23.05 20.18 Reduce
09/18/17 Kim Eng UOB 23.05 26.4 Buy
10/09/17 DIR UOB 24.36 26.4 Outperform
10/20/17 phillip UOB 24.33 21.61 Reduce
10/25/17 phillip UOB 24.25 23.46 Neutral GGM, PB1.09x FY18
10/25/17 DBS Vickers UOB 24.25 26.9 Buy GGM, PB1.3x FY18
11/03/17 DMG & Partners UOB 24.79 27.5 Buy GGM, PB1.27x FY18
11/03/17 Credit Suisse UOB 24.79 27.1 Outperform
11/03/17 UBS UOB 24.79 24 Sell
11/06/17 Kim Eng UOB 24.77 27.1 Buy PB1.2x FY18
11/06/17 phillip UOB 24.77 25.22 Accumulate GGM, PB1.184x FY18
11/06/17 CIMB UOB 24.77 25.4 Hold GGM FY19, PB1.18x FY18
11/06/17 DBS Vickers UOB 24.77 27.5 Buy GGM, PB1.3x FY18
11/06/17 Deutsche UOB 24.77 25.5 Hold
11/09/17 Macquarie UOB 25.21 24 Neutral
11/20/17 Credit Suisse UOB 25.06 29.3 Outperform
12/01/17 DMG & Partners UOB 26.2 28.88 Buy GGM, PB1.33x FY18
12/08/17 phillip UOB 25.63 25.22 Accumulate
12/08/17 Jefferies UOB 25.63 29.5 Buy
01/05/18 DBS Vickers UOB 27.02 29.5 Buy GGM, PB1.4x FY18
01/08/18 DMG & Partners UOB 26.91 28.88 Buy
01/09/18 Deutsche UOB 27.25 30.6 Buy
01/10/18 phillip UOB 27.8 25.22 Accumulate
01/26/18 OCBC UOB 27.98 30.1 Buy PB1.3x FY18
02/07/18 OCBC UOB 26.62 30.1 Buy
02/08/18 Macquarie UOB 26.4 27.5 Neutral
02/12/18 phillip UOB 26.24 25.22 Accumulate
02/15/18 CIMB UOB 26.24 28 Add GGM, PB1.3x FY18, PER11.3x FY19
02/15/18 DMG & Partners UOB 26.24 30 Buy GGM, PB1.35x FY18
02/15/18 Kim Eng UOB 26.24 29.33 Buy PB1.3x FY18
02/15/18 Credit Suisse UOB 26.24 31.7 Outperform GGM
02/15/18 Jefferies UOB 26.24 29.5 Buy
02/15/18 DBS Vickers UOB 26.24 30 Buy GGM, PB1.3x FY18
02/21/18 phillip UOB 27.22 29 Buy GGM, PB1.35x
02/22/18 UBS UOB 27.6 27.5 Neutral
03/05/18 OCBC UOB 27.75 30.86 Buy PB1.3x FY18
03/20/18 Kim Eng UOB 28.1 31.08 Buy
03/22/18 Lim & Tan UOB 28.58 0 Buy

United Global - Stock calls


Date Analyst Company Last Target Call Valuation
06/13/17 SAC Advisors United Global 0.325 0.37 Buy
10/17/17 SAC Advisors United Global 0.355 0.5 Buy
03/01/18 SAC Advisors United Global 0.41 0.5 Buy PER12.2x FY18

Stock calls for 28 March 2018


Date Analyst Company Last Target Call Valuation
03/28/18 OCBC CapitaRetail China 1.55 1.66 Buy
03/28/18 DBS Vickers Dairy Farm 8 9.77 Buy Sum of parts
03/28/18 Lim & Tan Mapletree Greater China 1.18 0 Buy on weakness
03/28/18 UOB Kay Hian Sembcorp Marine 2.21 2.78 Buy
03/28/18 DBS Vickers Y Venture 0.535 0.77 Buy EV/Ebitda

Midas uncovers another undisclosed liability.

https://www.theedgesingapore.com/midas-uncovers-another-lawsuit-against-dalian-subsidiary-unauthorised-guarantor

This is the 2nd case already and the ex-chairman is pleading innocence because he is unaware of such loans.

https://sg-stock.blogspot.sg/2018/02/midas-assets-are-frozen-in-china.html

Will there be more such cases?  Do you still have faith in this company?

China is preparing a list of retaliatory tariffs against the USA.

https://sg.finance.yahoo.com/news/china-preparing-list-retaliatory-tariffs-u-imports-global-043359001--finance.html

China is preparing a list of retaliatory tariffs against the $60b levies on China imports.  The initial Chinese tariffs imposed on USA agricultural products are for the steel and aluminum tariffs imposed by the USA.

http://sg-stock.blogspot.sg/2018/03/us-has-imposed-tariffs-on-60b-china.html

Tuesday, March 27, 2018

Wow! North Korean Kim Jong Un is in China now!

https://www.nytimes.com/2018/03/26/world/asia/north-korea-china-train-kim-jong-un.html

NK Kim wants to get China involved in resolving the Korean Peninsula crisis which indicates that NK Kim doesn't trust the USA.  NK Kim definitely wants reassurances from China before offering some concessions.

Hot news! UFO in Turkey sky!

Do you believe in UFO now?

United Engineers - Stock calls


Date Analyst Company Last Target Call Valuation
02/10/16 Lim & Tan United Engineers 1.97 0 Buy
05/12/16 Lim & Tan United Engineers 2.15 0 Buy
08/15/16 Lim & Tan United Engineers 2.33 0 Buy
09/27/16 Lim & Tan United Engineers 2.41 0 Buy
10/12/16 DBS Vickers United Engineers 2.54 2.75 Not Rated PB1x
10/27/16 UOB Kay Hian United Engineers 2.57 2.96 Buy PB1.04x
11/14/16 Lim & Tan United Engineers 2.64 0 Buy
11/14/16 UOB Kay Hian United Engineers 2.64 3.06 Buy NAV1x
11/29/16 UOB Kay Hian United Engineers 2.75 2.75 Hold PB0.9x FY17, Buy @ $2.50
01/06/17 Lim & Tan United Engineers 2.66 0 Buy
02/13/17 Lim & Tan United Engineers 2.91 0 Buy
03/02/17 Lim & Tan United Engineers 2.94 0 Hold
03/08/17 UOB Kay Hian United Engineers 2.93 2.75 Hold
03/13/17 DBS Vickers United Engineers 2.9 2.89 Not Rated
06/01/17 Lim & Tan United Engineers 2.63 0 Buy
07/14/17 Lim & Tan United Engineers 2.71 0 Hold Offer price of $2.60 is too low.
08/16/17 Lim & Tan United Engineers 2.69 0 Hold
09/21/17 Lim & Tan United Engineers 2.68 0 Hold

Uni-Asia - Stock calls


Date Analyst Company Last Target Call Valuation
01/12/16 NRA Uni-Asia 1.12 1.495 Overweight PB0.353x FY15
03/08/16 NRA Uni-Asia 1.165 1.495 Overweight PB0.36x FY16
07/01/16 NRA Uni-Asia 1.16 1.615 Overweight PB0.4x
06/19/17 Amfrasers Uni-Asia 1.165 1.92 Buy Sum of parts, PB0.5x FY17, PER8.2x FY17
06/21/17 NRA Uni-Asia 1.35 1.85 Overweight PB0.5x
08/15/17 NRA Uni-Asia 1355 1.86 Overweight PB0.5x
08/22/17 Amfrasers Uni-Asia 1.37 1.92 Buy Sum of parts, PB0.5x FY17, PER8.2x FY17
12/18/17 Amfrasers Uni-Asia 1.23 1.85 Buy Sum of parts, PB0.5x FY17, PER8.2x FY17
03/16/18 Amfrasers Uni-Asia 1.45 1.81 Buy Sum of parts, PB0.5x FY18, PER10x FY18

Stock calls for 27 March 2018


Date Analyst Company Last Target Call Valuation
03/27/18 Phillip A-Reit 2.6 2.89 Accumulate
03/27/18 phillip Cache Logistics 0.825 0.93 Accumulate
03/27/18 CIMB Comfortdelgro 2.04 2.16 Hold DCF
03/27/18 DMG & Partners Dairy Farm 9.1 9.16 Buy DCF
03/27/18 Deutsche M1 1.77 2.3 Buy

Why do crypto ads bans cause crypto to fall heavily?

https://sg.news.yahoo.com/twitter-bans-crytocurrency-ads-fraud-fears-015139918.html

If the ads bans can cause crypto to fall heavily, there can only be 1 reason behind the fall.  The crypto is a highly speculative commodity and it needs advertisements to hype up its price ascents.  Without advertisements to hype up its price ascents, the crypto will fall because it is a useless and worthless commodity.

Twitter is the latest to add to the salvo after FB and Google.

The USA will issue close to $300b bonds this week.

https://www.bloombergquint.com/onweb/2018/03/26/vulnerable-stocks-and-record-u-s-debt-sales-dominate-the-week

This upcoming bond sale is worth watching because it will reveal foreign investors' confidence in the USA treasury market.  If the sale is underwhelming, the USA will have a big problem financing its economic growth, especially for Trump's fiscal policies.

The Libor-OIS spread is also worth monitoring as stated in our previous posting.

http://sg-stock.blogspot.sg/2018/03/libor-ois-spread-is-at-6-year-high-is.html

The USA only wants to pollute other countries but not itself.

https://www.reuters.com/article/us-china-environment-usa/u-s-asks-china-not-to-implement-ban-on-foreign-garbage-idUSKBN1GZ2WI

The USA has requested China to halt its foreign trash ban.  This is ridiculously and it shows how selfish the USA is.

There is nothing wrong for China to protect its own environment and China is not a trash land for other countries to dump theirs.


Monday, March 26, 2018

UMS - Stock calls


Date Analyst Company Last Target Call Valuation
03/01/16 CIMB UMS 0.53 0.63 Add PB1.38x FY16
04/11/16 DBS Vickers UMS 0.595 0.7 Not Rated DCF
04/15/16 DBS Vickers UMS 0.615 0.73 Buy DCF
05/11/16 CIMB UMS 0.63 0.63 Hold PB1.38x FY16
05/12/16 DBS Vickers UMS 0.595 0.61 Hold
08/15/16 CIMB UMS 0.585 0.63 Add PB1.38x FY16
08/16/16 DBS Vickers UMS 0.595 0.61 Hold DCF
11/11/16 Lim & Tan UMS 0.61 0 Buy
11/14/16 CIMB UMS 0.62 0.64 Add PB1.38x CY17
11/14/16 DBS Vickers UMS 0.62 0.61 Hold DCF
03/01/17 CIMB UMS 0.675 0.82 Add GGM, PB1.85x FY17
03/02/17 DBS Vickers UMS 0.68 0.73 Buy DCF
05/15/17 CIMB UMS 0.87 1.15 Add GGM, PB2.41x
05/16/17 DBS Vickers UMS 0.98 1.07 Buy DCF, PER7.4x FY18 ex-cash
05/23/17 DBS Vickers UMS 1.07 1.33 Buy PER11x FY18 ex-cash
06/16/17 DBS Vickers UMS 1.08 1.33 Buy
07/05/17 CIMB UMS 0.995 1.15 Add GGM, PB2.41x
08/14/17 CIMB UMS 1.08 1.12 Hold GGM, PB2.41x
08/14/17 DBS Vickers UMS 1.08 1.13 Hold PER11x FY18 ex-cash
10/25/17 CIMB UMS 0.925 1.13 Add GGM, PB2,8x FY18, PER13.3x FY19, Ex-rights 1 for 4
11/13/17 DBS Vickers UMS 1.02 1.21 Buy PER12x FY18
11/13/17 CIMB UMS 1.02 1.21 Add GGM, PB2.88x
03/01/18 DBS Vickers UMS 1.16 1.37 Buy PER12x FY18
03/01/18 CIMB UMS 1.16 1.31 Add PB2.95x

UG Healthcare - Stock calls


Date Analyst Company Last Target Call Valuation
01/27/16 Kim Eng UG Healthcare 0.28 0.41 Buy PER14x FY16
02/05/16 Kim Eng UG Healthcare 0.33 0.52 Buy PER14x FY17
03/23/16 Kim Eng UG Healthcare 0.345 0.52 Buy PER14x
06/15/16 DBS Vickers UG Healthcare 0.305 0.33 Not Rated PER16x FY17
07/05/16 DBS Vickers UG Healthcare 0.29 0.33 Not Rated PER16x FY17
08/25/16 Lim & Tan UG Healthcare 0.305 0 Buy
08/26/16 Kim Eng UG Healthcare 0.335 0.37 Hold PER12x FY17
02/09/17 Lim & Tan UG Healthcare 0.295 0 Hold
02/09/17 Kim Eng UG Healthcare 0.295 0.25 Sell
08/31/17 Kim Eng UG Healthcare 0.24 0.21 Sell PER12x FY18

Stock calls for 26 March 2018


Date Analyst Company Last Target Call Valuation
03/26/18 DBS Vickers Comfortdelgro 1.99 2.12 Hold
03/26/18 Morgan Stanley Keppel Corp 7.72 9.45 Overweight Sum of parts, Up from $9.01
03/26/18 Morgan Stanley Sembcorp Industries 3.04 2.77 Underweight Sum of parts, Up from $2.39
03/26/18 Morgan Stanley Sembcorp Marine 2.09 2.45 Overweight PB2.2x FY18, Up from $1.48 ({PB1.2x)
03/26/18 DBS Vickers Thai Beverage 0.805 1.02 Buy

Noble Group is playing punk now!

https://sg.finance.yahoo.com/news/noble-group-says-board-seek-insolvency-protection-restructuring-031804752--finance.html

We did warn about Noble's bankruptcy previously.  Noble is forcing shareholders to accept the restructuring which will benefit the management the most or else it will declare bankruptcy.

http://sg-stock.blogspot.sg/2018/03/noble-groups-bankruptcy-is-real-and.html

Saturday, March 24, 2018

Baltic dry index - 1122

Today, Friday, March 23 2018, the Baltic Dry Index climbed by 5 points, reaching 1122 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 - 995

HOUSTON — The number of rigs exploring for oil and natural gas in the U.S. increased by five this week to 995.
That exceeds the 809 rigs that were active this time a year ago.
Houston oilfield services company Baker Hughes reported Friday that 804 rigs drilled for oil this week and 190 for gas. One was listed as miscellaneous.
Among major oil- and gas-producing states, Texas increased by seven rigs and Alaska and Colorado each gained two.
Oklahoma lost four rigs, Utah decreased by two and Ohio lost one.
Arkansas, California, Louisiana, New Mexico, North Dakota, 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

Friday, March 23, 2018

Tuan Sing - Stock calls


Date Analyst Company Last Target Call Valuation
11/29/17 UOB Kay Hian Tuan Sing 0.415 0.71 Buy Sum of parts
01/15/18 UOB Kay Hian Tuan Sing 0.49 0.71 Buy
01/29/18 UOB Kay Hian Tuan Sing 0.48 0.71 Buy Sum of parts

Triyards - Stock calls


Date Analyst Company Last Target Call Valuation
01/04/16 DMG & Partners Triyards 0.445 0.94 Buy PB1.05x
01/04/16 OCBC Triyards 0.445 0.61 Buy PER5x FY16
01/04/16 UOB Kay Hian Triyards 0.445 0.88 Buy PB0.75x
01/11/16 Amfrasers Triyards 0.49 0.55 Buy PER6x FY16
01/15/16 UOB Kay Hian Triyards 0.435 0.69 Buy
03/03/16 Amfrasers Triyards 0.405 0.55 Buy PER6x FY16
03/07/16 UOB Kay Hian Triyards 0.425 0.69 Buy
03/09/16 OCBC Triyards 0.42 0.61 Buy PER5x FY16
04/01/16 UOB Kay Hian Triyards 0.4 0.47 Hold PB0.4x FY17, Buy @ $0.38 or lower
04/08/16 Amfrasers Triyards 0.395 0.55 Buy PER6x FY16
04/08/16 OCBC Triyards 0.395 0.61 Buy PER5x FY16/17
05/17/16 Amfrasers Triyards 0.385 0.55 Buy
05/20/16 UOB Kay Hian Triyards 0.39 0.47 Hold
07/11/16 OCBC Triyards 0.38 0.51 Buy PER5x
07/11/16 UOB Kay Hian Triyards 0.38 0.44 Hold PB0.4x FY17, Buy @ $0.35
07/12/16 Amfrasers Triyards 0.39 0.52 Buy PER6x, PB0.6x
09/13/16 UOB Kay Hian Triyards 0.29 0.44 Buy PB0.4x FY17
10/24/16 UOB Kay Hian Triyards 0.28 0.41 Buy PB0.4x FY17
11/30/16 OCBC Triyards 0.275 0.35 Hold
12/02/16 UOB Kay Hian Triyards 0.285 0.5 Buy
01/09/17 Amfrasers Triyards 0.315 0.43 Buy PB0.5x FY17
01/09/17 OCBC Triyards 0.315 0.47 Buy PB0.55x FY17
01/09/17 UOB Kay Hian Triyards 0.315 0.46 Buy PB0.46x FY17
03/10/17 UOB Kay Hian Triyards 0.395 0.27 Hold
03/15/17 OCBC Triyards 0.295 0.345 Hold PB
04/10/17 OCBC Triyards 0.25 0.33 Hold PB0.35x FY17/18
07/24/17 OCBC Triyards 0.149 0.19 Hold PB0.3x FY18

Stock calls for 23 March 2018


Date Analyst Company Last Target Call Valuation
03/23/18 MIDF IHH Healthcare 2.01 2.32 Buy Ringgit $6.91 target price
03/23/18 CIMB OUE Commercial 0.72 0.75 Hold DDM
03/23/18 UOB Kay Hian ST Engineering 3.47 4.1 Buy EV/Invested capital basis, PER23x FY19
03/23/18 DBS Vickers ST Engineering 3.47 4.1 Buy DCF & PER22x
03/23/18 Kim Eng Valuetronics 0.955 1.25 Buy ROE-g/COE-g, PB2.8x FY19
03/23/18 OCBC Viva Industrial 0.75 0.93 Buy

Another lawsuit for Noble Group.

https://www.bloombergquint.com/markets/2018/03/22/noble-group-s-week-from-hell-gets-worse-as-another-lawsuit-hits

More and more bad news!

Another company is suing Noble Group for $260m.

US has imposed tariffs on $60b China imports.

https://www.cnbc.com/2018/03/22/trump-moves-to-slap-china-with-50-billion-in-tariffs-over-intellectual-property-theft.html

https://finance.yahoo.com/news/china-hits-back-trump-planned-232227157.html

The USA has imposed tariffs on $60b China goods but China has retaliated with very restrained effort targeting at Trump's supporters' businesses.

This trade war is real because the USA wants to cripple China's economy now.  Trump has replaced all his key personnel with anti-China characteristics.  They are advising Trump to wage an economic war against China because China will become the world leader in the future.  If the USA doesn't attack China economically now, the USA won't stand a chance in the future.

The USA has just passed a US$1.3T spending bill.

https://finance.yahoo.com/news/u-house-passes-1-3-170134662.html

Here we go again!  The USA will issue more government bonds to fund this newly passed $1.3T spending bill but it won't be easy to attract foreign central banks and investors to buy US treasuries this time.  Why?

This is because the USA has rankled many countries with its upcoming global trade war.  This global trade war will affect many economies and induce slower economic growth.  When other government coffers and investors are badly affected, they won't purchase more US treasuries.

The USA really has a warped logic!

Thursday, March 22, 2018

Trendlines - Stock calls

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Date Analyst Company Last Target Call Valuation
02/12/16 DBS Vickers Trendlines 0.161 0.28 Buy PB1.1x FY16
03/17/16 DBS Vickers Trendlines 0.192 0.28 Buy PB1.1x FY16
04/25/16 DBS Vickers Trendlines 0.225 0.24 Hold
11/27/17 NRA Trendlines 0.143 0.225 Overweight RNAV (20% discount)

Top Glove - Stock calls


12/16/16 Kim Eng Top Glove 1.63 1.71 Hold Ringgit target $5.30
10/19/17 Aminvestment Top Glove 1.98 2.05 Hold Ringgit target $6.36, up from $6.22

Tianjin Zhongxin - Stock calls


Date Analyst Company Last Target Call Valuation
04/11/16 CIMB Tianjin Zhongxin 0.895 1.42 Add DCF
04/25/16 CIMB Tianjin Zhongxin 0.845 1.3 Add DCF CY16
11/02/16 CIMB Tianjin Zhongxin 0.765 1.3 Add DCF CY17
12/06/16 CIMB Tianjin Zhongxin 0.805 1.3 Add DCF CY17
04/05/17 CIMB Tianjin Zhongxin 0.975 1.3 Add DCF FY17
08/02/17 UOB Kay Hian Tianjin Zhongxin 1.05 1.66 Buy PER15.5x FY18
09/05/17 UOB Kay Hian Tianjin Zhongxin 1.13 1.66 Buy PER15.5x FY18
10/04/17 UOB Kay Hian Tianjin Zhongxin 1.055 1.66 Buy PER15.5x FY18
11/02/17 UOB Kay Hian Tianjin Zhongxin 1.03 1.5 Buy PER14.6x FY18
01/03/18 UOB Kay Hian Tianjin Zhongxin 0.945 1.52 Buy PER14.1x FY18

Stock calls for 22 March 2018


Date Analyst Company Last Target Call Valuation
03/22/18 phillip Comfortdelgro 2 2.5 Buy
03/22/18 Lim & Tan DBS 28.4 0 Buy
03/22/18 CIMB Dyna-Mac 0.13 0.18 Add PB1.8x CY18
03/22/18 Lim & Tan OCBC 13.42 0 Buy
03/22/18 Lim & Tan UOB 28.58 0 Buy

Wednesday, March 21, 2018

Huge fireball in Thailand sky.

Some people say it is a sunset warped by the vapour in the air.

Some people say it is a falling asteroid.

Some people say it is a warning from God.

What say you?