US rig count - 1071

For the second week in a row, the U.S. dropped oil rigs, according to weekly data compiled by Baker Hughes, a GE Company.

After declining by 10 oil rigs last week, the U.S. dropped another four rigs this week, bringing the total oil rig count to 873.

Gas rigs remained flat this week, with no rigs added or cut.

The Eagle Ford and Utica both added a rig apiece this week while several other basins cut rigs.

The Permian, which accounts for more than half of the nation’s oil rigs, cut three rigs this week, as did the Williston. The Arkoma Woodford, Granite Wash, Haynesville, Marcellus and Mississippian all dropped an oil rig apiece this week.

The overall rig count total for this week is 1,071, higher than one year ago when the count was 930.

Earlier this week, the U.S. Energy Information Administration forecasted that U.S. oil producers would pump an average of 12.06 million barrels of oil per day in 2019.

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

Related stocks: Keppel Corp, Sembcorp Marine & Cosco

Another perspective of Huawei CFO's arrest.

Huawei CFO, Meng, was supposed to transit at Canada en route to Mexico to meet with Professor Zhang Shoucheng.  Prof Zhang was an expert in quantum computing and he was supposed to pass the newly developed 5G quantum computing chip to CFO Meng.

However, CFO Meng was arrested in transit at Canada out of a sudden and Prof Zhang committed suicide thereafter.  There could be a foul play in his suicide.

https://www.scmp.com/tech/article/2176729/zhang-shoucheng-stanford-physicist-and-tech-venture-capitalist-dies-after

Coincidentally, a semiconductor equipment manufacturer, ASML, couldn't deliver its semiconductor equipment to China due to a fire at its supplier.  This fire will cause a huge delay in delivery for ASML's China customer (maybe it is Huawei).

https://globenewswire.com/news-release/2018/12/03/1660472/0/en/ASML-expects-some-delay-in-deliveries-during-start-of-2019-due-to-fire-at-supplier.html

Simultaneously, CFO Meng's house was broken into during her arrest.  This was no ordinary burglary because someone was looking for something specific which was most likely information on Huawei 5G and the newly developed 5G quantum chip.  This 5G quantum chip will revolutionize the world and improve China's military power by leaps and bounds.

https://www.ctvnews.ca/canada/police-investigate-break-in-at-huawei-executive-meng-wanzhou-s-vancouver-home-1.4211648

China suspected that FBI was behind this whole episode and the intention was to sabotage China's 5G technology progress.

Huawei has the most advanced and matured 5G technology in this world with the most patents.  Furthermore, Huawei 5G has been deployed in some China provinces whereas the US has just announced its 5G bidding.

Therefore, China won't forgive Canada for helping the US and FBI to contain China 5G developments.

US stock market will plunge further when Kushner is appointed as COS.

https://www.ndtv.com/world-news/trump-considering-son-in-law-jared-kushner-as-next-chief-of-staff-report-1962432

OMG! This is really bad news for the stock markets!

Nepotism is what Trump wants to put in place in his office.

Triyards - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
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

Trendlines - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/27/17	NRA	Trendlines	0.143	0.225	Overweight	RNAV (20% discount)
06/28/18	NRA	Trendlines	0.119	0.225	Overweight

Top Glove - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/19/17	Aminvestment	Top Glove	1.98	2.05	Hold	Ringgit target $6.36, up from $6.22
06/20/18	Lim & Tan	Top Glove	3.88	0	Hold
06/22/18	Kim Eng	Top Glove	3.81	4.4	Buy
07/11/18	Kim Eng	Top Glove	3.4	4.36	Hold	Ringgit target $12.90, PER30x FY19

Stock calls for 14 December 2018

Date	Analyst	Company	Last	Target	Call	Valuation
12/14/18	DMG & Partners	Capitaland	3.17	4	Buy
12/14/18	DMG & Partners	DBS	23.92	29.8	Buy
12/14/18	DMG & Partners	Delfi	1.31	1.59	Buy
12/14/18	OCBC	ESR-Reit	0.5	0.59	Buy	DDM
12/14/18	DMG & Partners	Fu Yu	0.189	0.23	Buy
12/14/18	DMG & Partners	Genting	1.01	1.23	Buy
12/14/18	DMG & Partners	HRnetGroup	0.79	1.18	Buy
12/14/18	CIMB	Jumbo	0.39	0.54	Add
12/14/18	DBS Vickers	Roxy-Pacific	0.405	0.39	Hold	RNAV (55% discount)
12/14/18	DMG & Partners	Silverlake	0.415	0.65	Buy
12/14/18	DMG & Partners	Singapore Medical	0.405	0.56	Buy
12/14/18	DMG & Partners	ST Engineering	3.47	3.97	Buy
12/14/18	DMG & Partners	UOB	24.89	30.8	Buy
12/14/18	DMG & Partners	Venture	14.89	19	Buy

A successful ICO, Basis, has collapsed!

https://cointelegraph.com/news/us-stablecoin-project-basis-raises-133-mln-from-major-vc-firms

https://sg.finance.yahoo.com/news/bitcoin-slips-crypto-startup-basis-075600099.html

Basis had financial juggernaut investors but still collapsed.

Don't be deceived to participate in any ICO with big names on board.

Please read our posting first.

http://sg-stock.blogspot.com/2018/11/a-financial-analysis-on-initial-coin.html

Top bitcoin proponent is crying foul!

https://finance.yahoo.com/news/unabashed-bitcoin-bull-thomas-lee-145630108.html

This guy has lost a lot in crypto and is crying foul now because his price target of US$25,000 for 2018 will never be reached in 2018 and beyond.

When a crypto has structural design flaws and bad economics, it won't take off no matter how you try to portray it.

Bitcoin proponents have tried to use the principles of demand and supply to lure investors into buying bitcoins when they don't truly understand the economics.  When the prices crash, they know that demand-supply principles cannot work anymore.  Thus, these proponents move on to talk up the crypto by giving the false hope that financial institutions will be rushing into the crypto industry in the foreseeable future.

The true facts are people are abandoning cryptos as they get more educated about them and financial institutions also won't get involved in crypto investments except to offer trading platforms to earn the trading commissions.  Financial institutions prefer to develop their own private blockchains than to use the public blockchains.

http://sg-stock.blogspot.com/2018/09/the-private-blockchain-will-cannibalize.html

Please read our crypto postings for your own education.  Crypto prices have been falling after our postings because our readers get more educated.

http://sg-stock.blogspot.com/2018/11/a-financial-analysis-on-initial-coin.html

Canada got played out by the US.

https://www.channelnewsasia.com/news/business/exclusive--china-makes-first-big-us-soybean-purchase-since-trump-xi-truce-11026362

China has started to order US Soybeans again!

US-China trade tension has de-escalated after the Huawei CFO saga but China-Canada diplomatic relationship and trades have worsened.

Canada has never learnt from the historical bad records of the USA.  The US will betray and abandon anyone or any country after achieving its own interest.  This is how the Americans are like.

What did Canada gain from this? Nothing but troubles!

China has succeeded in reducing Singapore bunker sales.

https://www.channelnewsasia.com/news/business/china-s-zhoushan-to-go-after-singapore-marine-hub-s-top-billing-11026980

https://www.spglobal.com/platts/en/market-insights/latest-news/shipping/121318-singapores-nov-bunker-fuel-sales-fall-9-on-year-to-391-mil-mt

China has been trying hard to reduce Singapore bunker sales and it has finally succeeded.

Singapore November bunker sales dropped 9% year on year.

China has detained another Canadian!

https://sg.finance.yahoo.com/news/missing-canadians-raise-stakes-china-061754223.html

China is borrowing from the US's book (National Security).

National security is becoming a common theme right now in a lot of countries.  The US can impose punitive tariffs and sanctions based on national security.  The US also can get another country (Canada) to arrest a transit passenger because of national security issues.

I don't see why China cannot arrest 2 Canadians based on national security too.

Great job, China! At least you've learnt the American way in international politics.

Tiong Seng - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/06/17	DBS Vickers	Tiong Seng	0.39	0.45	Not Rated	PER6.6x FY18 & PB0.6x

Tianjin Zhongxin - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
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
04/02/18	UOB Kay Hian	Tianjin Zhongxin	0.92	1.66	Buy	PER14.1x FY18
04/30/18	UOB Kay Hian	Tianjin Zhongxin	1.01	1.72	Buy	PER14.1x FY18
05/21/18	UOB Kay Hian	Tianjin Zhongxin	1.2	1.72	Buy	PER14.1x FY18
06/04/18	UOB Kay Hian	Tianjin Zhongxin	1.21	1.72	Buy
07/13/18	UOB Kay Hian	Tianjin Zhongxin	1.12	1.72	Buy
09/14/18	UOB Kay Hian	Tianjin Zhongxin	0.915	1.59	Buy
10/31/18	UOB Kay Hian	Tianjin Zhongxin	0.895	1.59	Buy	PER14.1x FY18

Thai Beverage - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/17	CIMB	Thai Beverage	0.855	1.07	Add	Sum of parts, PER19.6x CY17
01/10/17	OCBC	Thai Beverage	0.845	1.01	Buy
01/10/17	JP Morgan	Thai Beverage	0.845	1.06	Overweight
02/02/17	OCBC	Thai Beverage	0.87	1.01	Buy
02/15/17	CIMB	Thai Beverage	0.88	1.07	Add	Sum of parts
02/16/17	DBS Vickers	Thai Beverage	0.94	1.01	Buy
03/06/17	OCBC	Thai Beverage	0.935	1.01	Buy
03/23/17	CIMB	Thai Beverage	0.925	1.07	Add	Sum of parts
03/31/17	UOB Kay Hian	Thai Beverage	0.935	1.09	Buy	Sum of parts
03/31/17	JP Morgan	Thai Beverage	0.935	1.1	Overweight
04/10/17	DBS Vickers	Thai Beverage	0.94	1.09	Buy	Sum of parts
04/10/17	DMG & Partners	Thai Beverage	0.94	1.1	Buy	Sum of parts
05/08/17	CIMB	Thai Beverage	0.91	1.07	Add	Sum of parts
05/12/17	DBS Vickers	Thai Beverage	0.915	1.09	Buy	Sum of parts
05/12/17	OCBC	Thai Beverage	0.915	1.01	Buy
05/15/17	DMG & Partners	Thai Beverage	0.885	1.1	Buy	Sum of parts
05/15/17	UOB Kay Hian	Thai Beverage	0.885	1.09	Buy	Sum of parts
05/15/17	JP Morgan	Thai Beverage	0.885	1	Overweight
06/13/17	OCBC	Thai Beverage	0.88	1.01	Buy
06/14/17	UOB Kay Hian	Thai Beverage	0.885	1.09	Buy
06/16/17	DBS Vickers	Thai Beverage	0.895	1.09	Buy
06/29/17	DBS Vickers	Thai Beverage	0.89	1.07	Buy	Sum of parts
07/03/17	DMG & Partners	Thai Beverage	0.9	1.1	Buy	Sum of parts, PER26x FY17
07/07/17	CIMB	Thai Beverage	0.91	1.07	Add	Sum of parts
07/10/17	Phillip	Thai Beverage	0.91	1.05	Accumulate	Sum of parts
07/11/17	UOB Kay Hian	Thai Beverage	0.915	1.09	Buy	Sum of parts
07/25/17	DBS Vickers	Thai Beverage	0.93	1.07	Buy	Sum of parts
08/08/17	UOB Kay Hian	Thai Beverage	0.96	1.09	Buy	Sum of parts
08/08/17	JP Morgan	Thai Beverage	0.96	1.1	Overweight
08/10/17	CIMB	Thai Beverage	0.955	1.07	Add	Sum of parts
08/10/17	DMG & Partners	Thai Beverage	0.955	1.1	Buy	Sum of parts
08/10/17	OCBC	Thai Beverage	0.955	1.01	Buy
08/11/17	DBS Vickers	Thai Beverage	0.945	1.07	Buy
08/14/17	Phillip	Thai Beverage	0.93	1.05	Accumulate	Sum of parts
08/14/17	UOB Kay Hian	Thai Beverage	0.93	1.09	Buy	Sum of parts
09/05/17	UOB Kay Hian	Thai Beverage	0.925	1.09	Buy	Sum of parts
09/18/17	OCBC	Thai Beverage	0.92	1.01	Buy
09/18/17	Credit Suisse	Thai Beverage	0.92	1.04	Outperform
09/19/17	DBS Vickers	Thai Beverage	0.915	1.07	Buy
09/20/17	DMG & Partners	Thai Beverage	0.91	1.1	Buy	Sum of parts
10/04/17	UOB Kay Hian	Thai Beverage	0.9	1.09	Buy	Sum of parts
10/13/17	DBS Vickers	Thai Beverage	0.945	1.07	Buy
10/16/17	DMG & Partners	Thai Beverage	0.94	1.12	Buy	Sum of parts
11/02/17	UOB Kay Hian	Thai Beverage	0.98	1.09	Buy	Sum of parts
11/24/17	DBS Vickers	Thai Beverage	0.94	1.07	Buy
11/27/17	CIMB	Thai Beverage	0.97	1.15	Add	Sum of parts, PER24.8x FY18
11/27/17	Phillip	Thai Beverage	0.97	1.18	Buy	Sum of parts, PER24.2x FY18
11/27/17	UOB Kay Hian	Thai Beverage	0.97	1.11	Buy	Sum of parts
11/27/17	OCBC	Thai Beverage	0.97	1.07	Buy	Sum of parts
11/27/17	CIMB	Thai Beverage	0.97	1.15	Add
12/04/17	Phillip	Thai Beverage	0.96	1.18	Buy
12/06/17	UOB Kay Hian	Thai Beverage	0.955	1.11	Buy	Sum of parts
12/13/17	Phillip	Thai Beverage	0.955	1.18	Buy	Sum of parts
12/13/17	CIMB	Thai Beverage	0.955	1.15	Add	Sum of parts
12/19/17	DBS Vickers	Thai Beverage	0.97	1.07	Buy	Sum of parts
12/20/17	CIMB	Thai Beverage	0.95	1	Hold	Sum of parts, PER22.6x CY18
12/20/17	JP Morgan	Thai Beverage	0.95	0.84	Underweight
01/04/18	UOB Kay Hian	Thai Beverage	0.915	1.11	Buy	Sum of parts
01/11/18	OCBC	Thai Beverage	0.93	1.07	Buy
01/23/18	Nomura	Thai Beverage	0.92	1.13	Buy
01/23/18	DBS Vickers	Thai Beverage	0.92	1.07	Buy
01/23/18	CIMB	Thai Beverage	0.92	1	Hold
02/01/18	UOB Kay Hian	Thai Beverage	0.92	1.06	Buy	Sum of parts
02/15/18	UOB Kay Hian	Thai Beverage	0.91	0.99	Hold	Sum of parts, Buy @ $0.84
02/15/18	CIMB	Thai Beverage	0.91	0.98	Hold	Sum of parts, PER21.8x CY18
02/19/18	DBS Vickers	Thai Beverage	0.85	1.02	Buy	Sum of parts
02/22/18	Phillip	Thai Beverage	0.835	1.05	Buy	Sum of parts
03/05/18	OCBC	Thai Beverage	0.825	0.95	Buy
03/19/18	Phillip	Thai Beverage	0.815	1.05	Buy
03/26/18	DBS Vickers	Thai Beverage	0.805	1.02	Buy
04/16/18	Phillip	Thai Beverage	0.8	1.05	Buy
05/10/18	DMG & Partners	Thai Beverage	0.83	1.06	Buy	Sum of parts
05/16/18	DBS Vickers	Thai Beverage	0.8	1.02	Buy
05/17/18	Phillip	Thai Beverage	0.795	1.05	Buy	Sum of parts
05/17/18	CIMB	Thai Beverage	0.795	0.98	Add	Sum of parts
05/17/18	OCBC	Thai Beverage	0.795	0.95	Buy
06/11/18	CIMB	Thai Beverage	0.77	0.98	Add
06/22/18	DMG & Partners	Thai Beverage	0.77	1.06	Buy
06/22/18	JP Morgan	Thai Beverage	0.77	0.73	Underweight
07/03/18	UOB Kay Hian	Thai Beverage	0.7	0.99	Buy
07/12/18	DMG & Partners	Thai Beverage	0.725	1.02	Buy	Sum of parts
07/25/18	DBS Vickers	Thai Beverage	0.74	0.94	Buy	Sum of parts
08/15/18	DBS Vickers	Thai Beverage	0.7	0.94	Buy	Sum of parts
08/15/18	JP Morgan	Thai Beverage	0.7	0.64	Underweight
08/16/18	CIMB	Thai Beverage	0.68	0.88	Add	Sum of parts
08/16/18	DMG & Partners	Thai Beverage	0.68	0.88	Buy	Sum of parts
08/16/18	OCBC	Thai Beverage	0.68	0.89	Buy
08/20/18	Phillip	Thai Beverage	0.645	0.62	Reduce	Sum of parts
09/04/18	Goldman Sachs	Thai Beverage	0.645	0.74	Buy	Cut from $0.94
09/04/18	JP Morgan	Thai Beverage	0.645	0.64	Underweight
09/14/18	CIMB	Thai Beverage	0.62	0.88	Add
09/18/18	Amfrasers	Thai Beverage	0.65	0.75	Buy	Sum of parts
09/20/18	DBS Vickers	Thai Beverage	0.65	0.94	Buy
09/21/18	DMG & Partners	Thai Beverage	0.67	0.88	Buy
10/02/18	Amfrasers	Thai Beverage	0.665	0.75	Buy	Sum of parts
10/04/18	UOB Kay Hian	Thai Beverage	0.71	0.84	Buy	Sum of parts
10/26/18	Exotix Capital	Thai Beverage	0.63	0.9	Buy
11/02/18	UOB Kay Hian	Thai Beverage	0.635	0.84	Buy
11/05/18	DBS Vickers	Thai Beverage	0.655	0.94	Buy
11/13/18	Amfrasers	Thai Beverage	0.65	0.75	Buy	Sum of parts
11/27/18	CIMB	Thai Beverage	0.67	0.88	Add	Sum of parts
11/27/18	DBS Vickers	Thai Beverage	0.67	0.87	Buy	Sum of parts
11/27/18	OCBC	Thai Beverage	0.67	0.85	Buy
11/28/18	Phillip	Thai Beverage	0.63	0.57	Reduce	Sum of parts
11/28/18	UOB Kay Hian	Thai Beverage	0.63	0.8	Buy	Sum of parts
11/28/18	DMG & Partners	Thai Beverage	0.63	0.75	Buy	Sum of parts
11/28/18	CIMB	Thai Beverage	0.63	0.73	Add	Sum of parts, PER17x
12/05/18	Amfrasers	Thai Beverage	0.625	0.75	Buy	Sum of parts

Stock calls for 13 December 2018

Date	Analyst	Company	Last	Target	Call	Valuation
12/13/18	OCBC	First Reit	1.04	1.05	Buy
12/13/18	UOB Kay Hian	Sembcorp Industries	2.61	3.41	Buy

Telechoice - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/10/17	NRA	Telechoice	0.27	0.34	Overweight	PER15.56x FY17
08/15/17	NRA	Telechoice	0.25	0.34	Overweight	PER16.5x FY20

Tee Land - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
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

Talkmed - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
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
04/27/18	DMG & Partners	Talkmed	0.69	0.7	Neutral	DCF, PER29x FY18
11/09/18	DMG & Partners	Talkmed	0.62	0.64	Neutral

Stock calls for 12 December 2018

Date	Analyst	Company	Last	Target	Call	Valuation
12/12/18	Kim Eng	Japfa	0.735	0.99	Buy	Sum of parts
12/12/18	UOB Kay Hian	Sunningdale	1.37	1.5	Hold	PER10.6x FY19, Buy @ $1.25
12/12/18	Lim & Tan	Sunningdale	1.37	0	Buy

A public listed company has dumped blockchain investment.

https://www.straitstimes.com/business/companies-markets/accrelist-calls-off-1m-deal-to-acquire-stake-in-blockchain-firm

This is a wise move for Accrelist because blockchain is an overhyped technology.

The more you know and learn about public blockchain, the more you will avoid it.

Crypto prices have fallen further after we have posted our crypto & ICO analyses.

http://sg-stock.blogspot.com/2018/11/a-financial-analysis-on-initial-coin.html

http://sg-stock.blogspot.com/2018/09/the-private-blockchain-will-cannibalize.html

No need to squabble over the new flight path at Seletar.

https://sg.news.yahoo.com/johor-singapore-airspace-conflict-why-020011262.html

We just need to refer this to ICAO for the safety assessment.  If ICAO says it's safe, it is safe and Malaysia cannot refute the safety concerns over the new flight path at Seletar.

That's it! No need to debate anymore. If anybody wants to debate, please debate at the ICAO hearing. I believe ICAO will stand by Singapore's assessment.  Why? This is because Malaysia doesn't even know where its MH370 is now.

Canada has backed off a bit after its former diplomat is detained in China.

https://finance.yahoo.com/news/chinas-huawei-executive-bail-hearing-001907585.html

Canada has granted bail to Huawei CFO after China detains its former Canadian diplomat Michael Kovrig.

Hahaha!

Canada, why do you want to get involved in this stupid ante put up by the US?  This will hurt your trades and also your reputation.

Noble is going bankrupt soon!

https://finance.yahoo.com/news/noble-group-appoint-provisional-liquidator-101735089.html

Noble's fate is sealed after SGX blocked the new noble from relisting.

http://sg-stock.blogspot.com/2018/12/omg-noble-cannot-relist-on-sgx.html

The so-called PLAN B is detrimental to existing shareholders because the PLAN B SHARES cannot be traded publicly.  Holding a share that cannot be cashed out is definitely not good.

The PLAN B is unlikely to be accepted by the existing shareholders and bankruptcy is the only way to go for Noble.

TA Corp - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/02/18	NRA	TA Corp	0.24	0.35	Overweight	RNAV (33% discount)
10/03/18	Tayrona Financial	TA Corp	0.24	0.35	Overweight

Synagie - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/27/18	UOB Kay Hian	Synagie	0.27	0.45	Buy	Price-to-Sales 4.2x FY19
09/06/18	CIMB	Synagie	0.215	0.34	Add	Price-to-Sales 2.2x CY19

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

Stock calls for 11 December 2018

Date	Analyst	Company	Last	Target	Call	Valuation
12/11/18	DMG & Partners	A-Reit	2.56	2.9	Buy
12/11/18	DMG & Partners	Cache Logistics	0.7	0.84	Buy
12/11/18	DMG & Partners	CapitaCommercial	1.76	1.8	Neutral
12/11/18	DMG & Partners	Capitamall Trust	2.24	2.14	Neutral
12/11/18	DMG & Partners	CDL Hospitality	1.52	1.8	Buy
12/11/18	DBS Vickers	City Developments	8.42	9.5	Hold
12/11/18	DMG & Partners	Frasers Centrepoint Trust	2.17	2.19	Neutral
12/11/18	DMG & Partners	Frasers Commercial Trust	1.39	1.43	Neutral
12/11/18	DMG & Partners	Manulife US Reit	0.755	0.92	Buy
12/11/18	DBS Vickers	Starhill	0.67	0.75	Buy	DCF
12/11/18	DMG & Partners	Starhill	0.67	0.8	Buy
12/11/18	DMG & Partners	Suntec Reit	1.78	1.9	Neutral
12/11/18	DBS Vickers	UOL	6.15	7.15	Hold	RNAV (40% discount)

Apple Iphones are banned in China now!

https://edition.cnn.com/2018/12/10/tech/china-iphone-ban/index.html

China is brilliant to pit a US firm against another US firm (Qualcomm vs Apple).

This will give China a legitimate excuse to ban Apple iPhones after the arrest of Huawei CFO.  Apple is an iconic US firm and China has no qualm to punish any iconic US firm.

It is also easy for China to attack Microsoft for cybersecurity reason because Microsft has a backdoor access for US NSA.