Singapore is sending a conflicting signal to the world on the nuclear weapon issue.

http://sg-stock.blogspot.com/2017/07/omg-singapore-didnt-support-banning-of.html

Singapore didn't support the banning of nuclear weapon in the UN but support the denuclearization of NK.  Is Singapore sending a conflicting signal about its stance on the nuclear weapon?

This was the same stance SG had adopted in the South China Sea issue.  SG doesn't recognize PCA as an International Court but it wants China to adhere to PCA's ruling.

Is Singapore adopting a selective rules-based system (a double standard system) now?

Taking stock of the world economic health.

Let's take a pulse on the world economic health.

https://www.businesstimes.com.sg/banking-finance/deutsche-bank-board-said-to-seek-6000-job-cuts-at-retail-unit

Deutsche bank will be retrenching 6000 employees.

https://sg.finance.yahoo.com/news/hp-plans-more-job-cuts-135301456.html

HP will be retrenching 5000 employees.

https://sg.finance.yahoo.com/news/rolls-royce-expected-slash-thousands-115200793.html

Rolls Royce will be retrenching 4000 employees.

Bank, IT and Aerospace are all not doing well and need to cut costs.  Is this a harbinger for a recession?

We're right about Kim's motives to visit China in May 2018.

https://www.nknews.org/2018/06/unusual-flights-from-pyongyang-raise-questions-about-kims-route-to-singapore/

Kim will fly to Singapore using China aeroplane.

We're right when we speculated his motives for visiting China in May 2018.

http://sg-stock.blogspot.com/2018/05/why-did-kim-visit-china-again-in-may.html

Mahathir to review CPTTP. Why?

https://sg.finance.yahoo.com/news/malaysias-mahathir-calls-review-trans-pacific-trade-pact-025902443--finance.html

I can't help but to raise my suspicion about Mahathir's intention to review the CPTTP.  Is Mahathir going to review everything that involves Singapore? CPTTP was already approved by 11 countries.  What more does he want from CPTTP?

Everything he did after becoming the PM was deemed to be hostile towards SG.

http://sg-stock.blogspot.com/2018/03/cpttp-is-nothing-compared-to-rcep.html

Baltic dry index - 1391

Today, Friday, June 08 2018, the Baltic Dry Index decreased by 4 points, reaching 1391 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 - 1062

HOUSTON (AP) - The number of rigs exploring for oil and natural gas in the U.S. increased by two this week to 1,062.

At this time a year ago there were 927 active rigs.

Houston oilfield services company Baker Hughes reported Friday that 862 rigs drilled for oil this week and 198 for gas. Two were listed as miscellaneous.

Among major oil- and gas-producing states, Texas added three rigs, Colorado increased by two and Louisiana gained one.

Oklahoma and Wyoming declined by two rigs each and North Dakota decreased by one.

Alaska, Arkansas, California, New Mexico, Ohio, Pennsylvania, Utah, and West Virginia 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

Apple is in trouble now! - Part 4

https://www.thestreet.com/markets/apple-slides-on-report-suppliers-prepping-for-sharply-lower-iphone-orders-14615809

Apple has just prepped its suppliers for a 20% drop in sales in 2018.

We've been warning about Iphone's sales recently.

http://sg-stock.blogspot.com/2018/04/apple-is-in-trouble-now-part-3.html

ISDN - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/11/17	NRA	ISDN	0.27	0.3	Overweight
03/29/17	NRA	ISDN	0.197	0.32	Overweight	PER14.66x FY17
06/15/17	NRA	ISDN	0.225	0.32	Overweight	PER14.7x FY17
06/15/17	UOB Kay Hian	ISDN	0.225	0.35	Buy	PER10.6x FY18
07/03/17	UOB Kay Hian	ISDN	0.22	0.35	Buy
07/26/17	Lim & Tan	ISDN	0.225	0	Trading Buy
08/08/17	UOB Kay Hian	ISDN	0.26	0.35	Buy
08/15/17	Lim & Tan	ISDN	0.26	0	Sell	Take profit
11/15/17	UOB Kay Hian	ISDN	0.245	0.35	Buy
02/20/18	NRA	ISDN	0.22	0.32	Overweight	PER12.5x FY18
02/20/18	UOB Kay Hian	ISDN	0.22	0.35	Buy
02/20/18	Lim & Tan	ISDN	0.22	0	Trading Buy
02/28/18	Lim & Tan	ISDN	0.23	0	Take Profit
05/15/18	UOB Kay Hian	ISDN	0.21	0.365	Buy

Ireit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/09/17	DBS Vickers	Ireit	0.73	0.75	Hold	DCF
05/24/17	DBS Vickers	Ireit	0.755	0.75	Hold	DCF

Stock calls for 8 June 2018

Date	Analyst	Company	Last	Target	Call	Valuation
06/08/18	NRA	Addvalue	0.041	0.052	Overweight	Mid-point of target $0.0485-$0.0552
06/08/18	CIMB	CDL Hospitality	1.66	1.92	Add
06/08/18	phillip	Comfortdelgro	2.46	2.69	Accumulate
06/08/18	OCBC	Comfortdelgro	2.46	2.5	Hold
06/08/18	CIMB	Far East Hospitality	0.66	0.79	Add
06/08/18	CIMB	Genting	1.25	1.4	Add

PAP makes my life full of hardship!

http://theindependent.sg/you-make-my-life-full-of-hardship-tampines-stallholder-begs-pap-for-mercy-as-conservancy-fees-climb/

This Singaporean is really courageous to voice it out by displaying the placards.

Is this the harbinger of something to come or just a one-off thing?

Look like PAP has lost touch with the people on the ground.  If PAP is still unwilling to come down from its high pedestal, the people will vote for a change just like the Malaysians did.

IPS Securex - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/14/17	DMG & Partners	IPS Securex	0.155	0.34	Buy	DCF, PER13x FY18
09/11/17	DMG & Partners	IPS Securex	0.082	0.09	Neutral	DCF

Indofood Agri - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/11/17	DBS Vickers	Indofood Agri	0.545	0.58	Buy
02/13/17	DBS Vickers	Indofood Agri	0.54	0.58	Buy
03/02/17	DBS Vickers	Indofood Agri	0.52	0.56	Hold
05/03/17	DBS Vickers	Indofood Agri	0.49	0.56	Hold	DCF
07/11/17	DBS Vickers	Indofood Agri	0.475	0.56	Hold
07/31/17	DBS Vickers	Indofood Agri	0.495	0.49	Hold	DCF
08/28/17	DIR	Indofood Agri	0.46	0.4	Underperform	PER7.5x FY17/18
09/13/17	DBS Vickers	Indofood Agri	0.46	0.49	Hold
10/30/17	DBS Vickers	Indofood Agri	0.455	0.48	Hold	DCF
11/13/17	DBS Vickers	Indofood Agri	0.455	0.48	Hold
11/20/17	DIR	Indofood Agri	0.445	0.4	Underperform	PER7.5x FY17/18
01/15/18	DBS Vickers	Indofood Agri	0.405	0.48	Hold
03/02/18	DBS Vickers	Indofood Agri	0.34	0.36	Hold	DCF
04/13/18	DBS Vickers	Indofood Agri	0.325	0.36	Hold
05/02/18	DBS Vickers	Indofood Agri	0.32	0.36	Hold	DCF

Stock calls for 7 June 2018

Date	Analyst	Company	Last	Target	Call	Valuation
06/07/18	DBS Vickers	Comfortdelgro	2.47	2.12	Hold
06/07/18	DBS Vickers	Ezion	0.105	0.29	Buy
06/07/18	phillip	Golden Energy	0.375	0.48	Buy
06/07/18	OCBC	Hutchison Port	0.305	0.375	Buy
06/07/18	UOB Kay Hian	KSH	0.65	1.04	Buy	Sum of parts
06/07/18	Kim Eng	Sasseur	0.77	0.9	Buy

Pedestrians have to watch out while walking in the park nowadays!

http://www.asiaone.com/singapore/former-beauty-queen-hurt-e-scooter-accident

Another avoidable accident if pedestrian and e-scooter never cross path!

Luckily, there is no death this time but this will never end when the pedestrian, e-scooter and cyclist share the same path.

http://sg-stock.blogspot.com/2018/06/how-many-deaths-must-happen-before.html

Mahathir is trying to skin Singapore further!

https://www.theedgesingapore.com/mas-asks-securities-commission-malaysia-clarify-position-stock-market-trading-link?utm_source=Singapore+Market+Report&utm_campaign=2abab847c4-EMAIL_CAMPAIGN_2018_06_06_10_32&utm_medium=email&utm_term=0_46b7beec93-2abab847c4-90900869

We knew Mahathir would continue to skin SG alive.  We had stated this in our previous postings.  Just look at what he did after he became the PM.

He terminated the KL-SG HSR to stop SG from reaping the economic benefits.

He proposed building an island on the middle rocks as a maritime base to impose security concerns on SG.

He is trying to terminate the KL-SG stock exchange link now.

http://sg-stock.blogspot.com/2018/05/singapore-ministers-do-not-dare-to.html

http://sg-stock.blogspot.com/2018/06/mahathir-has-shown-his-true-colour.html

SGX is snubbed by another local IPO aspirant.

https://www.channelnewsasia.com/news/technology/myrepublic-garners-s-80-1m-in-fresh-funds-reveals-hk-ipo-plans-10386548

After losing Razor IPO to HK, SGX is losing another local IPO aspirant to HKEX.  This goes to show that SGX is no longer attractive to IPO aspirants because of its low liquidity which engenders a low valuation.

Sigh!

IHH Healthcare - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/17	CIMB	IHH Healthcare	1.96	2.35	Add	Ringgit $7.06 target price, Sum of parts
02/27/17	Kim Eng	IHH Healthcare	1.93	1.83	Hold	Ringgit $5.80 target price
03/09/17	DIR	IHH Healthcare	1.91	2.06	Hold	Sum of parts, Ringgit $6.47 target price
04/10/17	UOB Kay Hian	IHH Healthcare	1.89	1.85	Hold
05/22/17	DBS Vickers	IHH Healthcare	1.91	2.3	Buy	Sum of parts, Ringgit $7.15 target price
05/22/17	DMG & Partners	IHH Healthcare	1.91	2.35	Buy	DCF, Sum of parts, EV/Ebitda18x FY18
05/23/17	DIR	IHH Healthcare	1.92	2.12	Hold	Sum of parts, Ringgit $6.56
05/23/17	UOB Kay Hian	IHH Healthcare	1.92	1.8	Hold	Sum of parts, Buy @ $1.60
06/05/17	Kim Eng	IHH Healthcare	1.92	2	Hold	Sum of parts, Ringgit $6.17 target
06/06/17	CIMB	IHH Healthcare	1.915	2.21	Add	Ringgit $6.84 target
06/14/17	DBS Vickers	IHH Healthcare	1.94	2.31	Buy	Sum of parts, Ringgit $7.15 target
06/19/17	UOB Kay Hian	IHH Healthcare	1.945	1.8	Hold
07/05/17	Kim Eng	IHH Healthcare	1.88	1.98	Hold	Ringgit $6.15 target price
08/01/17	UOB Kay Hian	IHH Healthcare	1.88	1.8	Hold
08/24/17	UOB Kay Hian	IHH Healthcare	1.895	1.73	Hold	Sum of parts, Buy @ $1.50
08/24/17	CIMB	IHH Healthcare	1.895	2.22	Add	Ringgit $6.99 target price
08/24/17	DBS Vickers	IHH Healthcare	1.895	2.16	Buy	Ringgit $6.81 target
08/24/17	Kim Eng	IHH Healthcare	1.895	1.94	Hold	Ringgit $6.1 target price
08/25/17	DIR	IHH Healthcare	1.895	2.09	Hold	Ringgit $6.56 target
11/28/17	UOB Kay Hian	IHH Healthcare	1.83	1.71	Hold	Sum of parts, Buy @ $1.50
11/28/17	CIMB	IHH Healthcare	1.83	2.08	Add	Sum of parts, Ringgit $6.36 target
11/28/17	DBS Vickers	IHH Healthcare	1.83	2.23	Buy	Ringgit $6.81 target
11/28/17	Lim & Tan	IHH Healthcare	1.83	0	Hold	Expensive at PER50x FY18
11/28/17	Kim Eng	IHH Healthcare	1.83	2.05	Buy	Ringgit $6.3 target price
02/28/18	DMG & Partners	IHH Healthcare	2.05	2.36	Buy	DCF/SOP-based Ringgit $7 target price
03/20/18	DBS Vickers	IHH Healthcare	2.02	2.29	Buy	Sum of parts, Ringgit $6.81 target
03/23/18	MIDF	IHH Healthcare	2.01	2.32	Buy	Ringgit $6.91 target price
04/17/18	Kim Eng	IHH Healthcare	2.05	2.36	Buy	Sum of parts, Ringgit $7 target price
04/17/18	UOB Kay Hian	IHH Healthcare	2.05	2.31	Buy	Ringgit $6.86
04/26/18	DBS Vickers	IHH Healthcare	2.04	2.31	Buy	Rinngit $6.81 target
05/28/18	DMG & Partners	IHH Healthcare	2.08	2.36	Buy	DCF & Sum of parts & EV/Ebitda 18x FY19,  Ringgit $7 target price

Ifast Corp - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/20/17	DBS Vickers	Ifast Corp	0.855	0.94	Hold	DDM
02/20/17	DMG & Partners	Ifast Corp	0.855	0.79	Neutral
02/22/17	phillip	Ifast Corp	0.845	0.78	Neutral	PER25x FY17
04/28/17	DMG & Partners	Ifast Corp	0.6	0.88	Buy	DCF
05/02/17	DBS Vickers	Ifast Corp	0.715	0.94	Buy	DDM
05/05/17	phillip	Ifast Corp	0.74	0.78	Accumulate
05/25/17	UOB Kay Hian	Ifast Corp	0.87	1.05	Buy
06/13/17	UOB Kay Hian	Ifast Corp	0.975	1.02	Hold	DCF, Buy @ $0.90
07/31/17	UOB Kay Hian	Ifast Corp	1.05	1.08	Hold	DCF, Buy @ $0.95
08/01/17	DMG & Partners	Ifast Corp	1.07	1.01	Neutral	DCF
08/01/17	DBS Vickers	Ifast Corp	1.07	1.26	Buy
08/02/17	phillip	Ifast Corp	1.055	1.11	Accumulate	PER34.3x FY17
10/30/17	DMG & Partners	Ifast Corp	0.94	1.01	Neutral	DCF
10/30/17	DBS Vickers	Ifast Corp	0.94	1.26	Buy	DDM
11/01/17	phillip	Ifast Corp	0.97	1.11	Accumulate	GGM
02/15/18	DBS Vickers	Ifast Corp	0.88	1.26	Buy	DDM
04/30/18	DBS Vickers	Ifast Corp	0.9	1.26	Buy	DDM

Hyflux - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/07/17	Credit Suisse	Hyflux	0.57	0.5	Neutral
05/08/17	Credit Suisse	Hyflux	0.56	0.58	Neutral