China has responded finally to Singapore invitation to part take in the HSR tender.

https://www.channelnewsasia.com/news/singapore/china-gears-up-to-woo-singapore-in-bid-for-high-speed-rail-9415766

Look like our PM Lee's visit to China has paid off.  China has reciprocated by responding to SG's invitation albeit much later than Japan (August 2017).  This is a goodwill gesture by China.

http://sg-stock.blogspot.sg/2017/09/why-is-china-so-blase-about-singapore.html

http://www.channelnewsasia.com/news/singapore/japan-courts-singapore-in-bid-for-high-speed-rail-project-to-kl-9163550#cxrecs_s

Saudi Arab has a huge budget deficit that it is trying to fill.

https://sg.finance.yahoo.com/news/saudi-officials-reportedly-offer-freedom-095000659.html

Saudi's national budget is based on around USD$80 oil but the oil prices have been hovering at around USD$55 now.  Therefore, there is a significant shortfall in the budget.

How is Saudi going to make up for the shortfall?

By imposing a 70% confiscation of wealth on the arrested parties.

Fitch downgraded Noble Group after DBS dumped Noble.

https://sg.finance.yahoo.com/news/fitch-lowers-noble-group-rating-says-default-appears-095447764--finance.html

Default risk is definitely much higher than before now especially when more banks start to dump Noble.

Aspen - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/29/17	CIMB	Aspen	0.23	0.29	Add
10/20/17	DMG & Partners	Aspen	0.22	0.31	Buy	RNAV (45% discount)
11/14/17	CIMB	Aspen	0.22	0.29	Add	RNAV (45% discount)

Asiaphos - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/18/16	NRA	Asiaphos	0.089	0.225	Overweight	PB2.3x FY15
05/09/16	NRA	Asiaphos	0.092	0.225	Overweight	Sum of parts
08/16/16	NRA	Asiaphos	0.088	0.195	Overweight
11/15/16	NRA	Asiaphos	0.082	0.195	Overweight
09/14/17	NRA	Asiaphos	0.095	0.167	Overweight

Stock calls for 17 November 2017

Date	Analyst	Company	Last	Target	Call	Valuation
11/17/17	Lim & Tan	Capitaland	3.53	0	Buy
11/17/17	phillip	China Everbright	0.445	0.59	Buy	PER17.4x FY18
11/17/17	Kim Eng	Guocoland	2.19	2.9	Buy
11/17/17	Kim Eng	Ho Bee	2.53	3	Buy
11/17/17	CIMB	Keppel Corp	7.28	8.58	Add
11/17/17	DBS Vickers	Mermaid Maritime	0.138	0.14	Hold	PB0.6x
11/17/17	Phillip	RE & S	0.22	0	Subscribe	IPO

Singapore non-oil domestic exports (NODX) - Part 7

http://www.businesstimes.com.sg/government-economy/quick-takes-singapores-export-rebound-could-mask-slowing-electronics-output

Year on year changes:

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%
Dec 2016: 9.1%
Nov 2016: 15.6%

https://sg-stock.blogspot.sg/2017/10/singapore-non-oil-domestic-exports-nodx.html

Chinese bike-sharing firm has gone bankrupt.

http://en.people.cn/n3/2017/1116/c90000-9293509.html

This is not surprising even though China has 1.4B people because the shared bike business model is a flawed concept.

We reported this before.

https://sg-stock.blogspot.sg/2017/08/shared-bikes-business-model-is-flawed.html

Ascendas India Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/16	DBS Vickers	Ascendas India Trust	0.87	0.9	Hold	DDM
01/25/16	DBS Vickers	Ascendas India Trust	0.765	0.91	Buy	DDM
03/21/16	DBS Vickers	Ascendas India Trust	0.845	1.03	Buy	DDM
04/28/16	DBS Vickers	Ascendas India Trust	0.935	1.02	Buy
07/25/16	DBS Vickers	Ascendas India Trust	1	1.06	Buy
07/29/16	DBS Vickers	Ascendas India Trust	1.02	1.07	Buy
08/16/16	DBS Vickers	Ascendas India Trust	1.075	1.07	Buy
10/26/16	DBS Vickers	Ascendas India Trust	1.075	1.13	Buy	DDM
01/09/17	DBS Vickers	Ascendas India Trust	1.025	1.13	Buy	DDM
02/01/17	DBS Vickers	Ascendas India Trust	1.05	1.12	Buy	DDM
02/01/17	Lim & Tan	Ascendas India Trust	1.05	0	Hold
04/27/17	DBS Vickers	Ascendas India Trust	1.135	1.2	Buy	DDM
07/25/17	DBS Vickers	Ascendas India Trust	1.16	1.15	Hold	DDM
10/26/17	DBS Vickers	Ascendas India Trust	1.145	1.15	Hold	DDM

Ascendas Hospitality Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/08/16	DBS Vickers	Ascendas Hospitality Trust	0.75	0.77	Buy	DCF FY17
04/06/16	DBS Vickers	Ascendas Hospitality Trust	0.765	0.77	Hold	DCF
04/06/16	Lim & Tan	Ascendas Hospitality Trust	0.765	0	Trading Sell
05/13/16	DBS Vickers	Ascendas Hospitality Trust	0.69	0.8	Buy
08/12/16	DBS Vickers	Ascendas Hospitality Trust	0.735	0.8	Buy
10/18/16	DBS Vickers	Ascendas Hospitality Trust	0.73	0.8	Buy
11/10/16	DBS Vickers	Ascendas Hospitality Trust	0.735	0.84	Buy	DCF FY18
01/09/17	DBS Vickers	Ascendas Hospitality Trust	0.715	0.84	Buy	DCF
06/19/17	DBS Vickers	Ascendas Hospitality Trust	0.81	0.88	Buy	DCF

Stock calls for 16 November 2017

Date	Analyst	Company	Last	Target	Call	Valuation
11/16/17	CIMB	Mermaid Maritime	0.138	0.14	Reduce	PB0.4x CY17
11/16/17	DBS Vickers	Procurri	0.235	0.18	Fully Valued	RNAV (6% discount)
11/16/17	DBS Vickers	Religare Health Trust	0.895	0.85	Hold	DDM, Offer $0.90
11/16/17	CIMB	Religare Health Trust	0.895	0.92	Hold	DDM, PB1.08x
11/16/17	OCBC	Singapore Myanmar	0.45	0.665	Buy	PER16x FY19
11/16/17	DBS Vickers	Singapore Post	1.28	1.23	Hold	DCF
11/16/17	Kim Eng	Singapore Post	1.28	1.5	Buy	DCF
11/16/17	UOB Kay Hian	Singapore Post	1.28	1.34	Hold	Sum of parts, Buy @ $1.20
11/16/17	CIMB	Singapore Post	1.28	1.28	Hold	DCF
11/16/17	OCBC	Singapore Post	1.28	1.26	Hold
11/16/17	Lim & Tan	Singtel	3.69	0	Buy
11/16/17	DMG & Partners	Spackman	0.112	0.2	Buy	DCF, PER15x FY18
11/16/17	DBS Vickers	Wilmar	3.22	3.5	Hold	DCF, PER15x FY18

Hong Kong security is getting worse. Stay away from South Asians in HK.

Please stay away from South Asians in Hong Kong because they're getting bolder and no longer respect the laws.  Many of them have joined the HK triads.  The South Asians are Pakistani, Indian and Bangladeshi.

This drunk Pakistani pushed a female cleaner down the MRT platform.

Just look at this South Asian who robbed a jewellery shop in daylight with a hammer.

3 South Asians fought with elderly Hongkongers in the MRT.

http://www.thestandard.com.hk/section-news.php?id=188650&sid=4

Oct 2017 News

Quote:

According to the police, 13 men - 10 South Asians and three Hong Kong Chinese - burst into the B&B Mongkok Hotel on the 16th floor of Kingland Apartments on Nathan Road shortly before 1am yesterday.

Two South Asians then knocked on the door of two mainlanders staying in the guesthouse and rushed in when the door was opened.

They slapped and manhandled the two men before leaving with a backpack containing HK$2.3 million in cash and an iPhone worth HK$8,000.

End Quote.

Trump offered to mediate on South China Sea issue but Duterte slapped him in the face.

http://www.khmertimeskh.com/5090214/trump-offers-mediate-south-china-sea/

Duterte rejected Trump's offer outright because he knew the ulterior motive of Trump.  Trump is not really genuine in mediating the South China Sea issue and he just wants to stir more troubles in South China Sea for USA political interest.

Duterte saw through Trump's ruse immediately because the USA would create troubles wherever it was involved and the Middle East was a superb example.

A pensive man who is critical about our SMRT and GOVERNMENT.

This man is so disappointed in our SMRT & Government and is brave enough to come forth publicly to criticize our SMRT & Government for the better of Singapore.

However, I know that our Minister Khaw, Malay reserved President and SMRT top management won't step down.  As long as Singaporeans support the one-party system in Singapore, we can NEVER boot out the incompetent "elitists".

Ascott Residence Trust (ART) - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/16	UOB Kay Hian	ART	1.185	1.39	Buy
01/08/16	DBS Vickers	ART	1.15	1.33	Buy	DCF
01/26/16	Lim & Tan	ART	1.1	0	Buy
01/26/16	OCBC	ART	1.1	1.28	Buy
01/27/16	CIMB	ART	1.115	1.19	Hold	DDM
01/27/16	DIR	ART	1.115	1.28	Outperform	DDM
03/10/16	OCBC	ART	1.13	1.28	Buy
03/15/16	CIMB	ART	1.13	1.19	Hold	DDM
03/15/16	DBS Vickers	ART	1.13	1.33	Buy
03/15/16	DIR	ART	1.13	1.21	Outperform	DDM
03/15/16	Lim & Tan	ART	1.13	0	Buy on weakness
03/16/16	OCBC	ART	1.075	1.29	Buy
03/16/16	UOB Kay Hian	ART	1.075	1.39	Buy	DDM
04/12/16	OCBC	ART	1.1	1.29	Buy
04/13/16	DBS Vickers	ART	1.11	1.33	Buy
04/18/16	CIMB	ART	1.125	1.14	Hold
04/18/16	DBS Vickers	ART	1.125	1.28	Buy
04/18/16	UOB Kay Hian	ART	1.125	1.36	Buy
05/03/16	UOB Kay Hian	ART	1.135	1.36	Buy
05/18/16	OCBC	ART	1.125	1.29	Buy
06/14/16	CIMB	ART	1.125	1.14	Hold
06/17/16	UOB Kay Hian	ART	1.11	1.36	Buy
06/22/16	OCBC	ART	1.115	1.29	Buy
06/29/16	CIMB	ART	1.09	1.16	Hold	DDM
07/13/16	Lim & Tan	ART	1.12	0	Buy
07/14/16	UOB Kay Hian	ART	1.13	1.36	Buy
07/18/16	UOB Kay Hian	ART	1.135	1.39	Buy
07/20/16	OCBC	ART	1.135	1.29	Buy
07/21/16	DBS Vickers	ART	1.145	1.31	Buy
07/21/16	DIR	ART	1.145	1.24	Outperform	DDM
07/21/16	OCBC	ART	1.145	1.24	Buy
07/21/16	Religare	ART	1.145	1.22	Hold
07/21/16	UOB Kay Hian	ART	1.145	1.37	Buy	DDM
07/22/16	CIMB	ART	1.16	1.18	Hold	DDM
07/22/16	Credit Suisse	ART	1.16	1.23	Neutral
08/01/16	UOB Kay Hian	ART	1.13	1.37	Buy
08/04/16	DIR	ART	1.125	1.24	Outperform
08/16/16	DBS Vickers	ART	1.15	1.31	Buy
08/29/16	OCBC	ART	1.145	1.24	Buy
08/31/16	Credit Suisse	ART	1.135	1.23	Neutral
09/15/16	DIR	ART	1.135	1.24	Outperform	DDM
10/05/16	UOB Kay Hian	ART	1.145	1.37	Buy	DDM
10/06/16	OCBC	ART	1.145	1.24	Buy
10/14/16	DIR	ART	1.14	1.24	Outperform	DDM
10/18/16	DBS Vickers	ART	1.14	1.31	Buy
10/21/16	CIMB	ART	1.135	1.18	Hold	DDM
10/21/16	DBS Vickers	ART	1.135	1.32	Buy	DCF
11/21/16	CIMB	ART	1.135	1.11	Hold
11/21/16	OCBC	ART	1.135	1.24	Buy
12/09/16	UOB Kay Hian	ART	1.165	1.3	Buy
12/16/16	OCBC	ART	1.155	1.24	Buy
01/04/17	OCBC	ART	1.14	1.24	Buy
01/04/17	UOB Kay Hian	ART	1.14	1.3	Buy	DDM
01/09/17	DBS Vickers	ART	1.16	1.32	Buy	DCF
01/18/17	DIR	ART	1.17	1.24	Outperform	DDM
01/24/17	Lim & Tan	ART	1.17	0	Buy
01/25/17	CIMB	ART	1.185	1.14	Hold	DDM
01/25/17	DBS Vickers	ART	1.185	1.28	Buy	DCF
01/25/17	OCBC	ART	1.185	1.22	Hold
01/31/17	Credit Suisse	ART	1.185	1.23	Neutral
02/08/17	DIR	ART	1.14	1.24	Outperform	DDM
03/07/17	Lim & Tan	ART	1.17	0	Hold	CR = 29 for 100 @ $0.919
03/07/17	UOB Kay Hian	ART	1.17	1.3	Buy
03/08/17	CIMB	ART	1.13	1	Reduce	DDM
03/08/17	Credit Suisse	ART	1.13	1.11	Neutral
03/08/17	DIR	ART	1.13	1.12	Hold	DDM
03/08/17	OCBC	ART	1.13	1.16	Hold	Target $1.105 ex-rights 29-for-100 @ $0.919
03/08/17	UOB Kay Hian	ART	1.13	1.2	Hold	DDM, Ex rights 29 for 100 $0.919
03/23/17	OCBC	ART	1.065	1.105	Hold
04/06/17	OCBC	ART	1.1	1.05	Hold
04/11/17	UOB Kay Hian	ART	1.09	1.2	Hold
04/17/17	OCBC	ART	1.09	1.105	Hold
04/18/17	DIR	ART	1.095	1.12	Hold
04/24/17	DBS Vickers	ART	1.09	1.16	Buy	DCF, Ex-Rights
04/24/17	DIR	ART	1.09	1.08	Hold	DDM
04/24/17	OCBC	ART	1.09	1.09	Hold
04/24/17	UOB Kay Hian	ART	1.09	1.15	Hold	DDM, Buy @ $1 or below
05/25/17	UOB Kay Hian	ART	1.12	1.17	Hold	DDM, Buy @ $1
05/31/17	Lim & Tan	ART	1.125	0	Buy
06/01/17	CIMB	ART	1.125	1.05	Hold	DDM
06/01/17	DBS Vickers	ART	1.125	1.16	Buy
06/01/17	OCBC	ART	1.125	1.095	Hold
07/04/17	DBS Vickers	ART	1.16	1.16	Buy
07/04/17	OCBC	ART	1.16	1.095	Hold
07/20/17	Lim & Tan	ART	1.175	0	Sell
07/21/17	CIMB	ART	1.195	1.14	Hold	DDM
07/21/17	DIR	ART	1.195	1.12	Hold	DDM
07/21/17	UOB Kay Hian	ART	1.195	1.18	Hold	DDM, Buy @ $1
07/24/17	DBS Vickers	ART	1.21	1.28	Buy	DCF
08/17/17	DBS Vickers	ART	1.18	1.28	Buy	DCF
09/29/17	OCBC	ART	1.18	1.1	Hold
10/23/17	UOB Kay Hian	ART	1.215	1.18	Hold
10/25/17	OCBC	ART	1.22	1.11	Hold
10/25/17	CIMB	ART	1.22	1.16	Hold	DDM
10/25/17	DBS Vickers	ART	1.22	1.28	Buy	DCF

Asian Pay TV - Stock calls

02/24/16	DBS Vickers	APTV	0.63	0.62	Hold	DCF
02/24/16	Lim & Tan	APTV	0.63	0	Hold
05/10/16	Lim & Tan	APTV	0.595	0	Hold
05/11/16	Amfrasers	APTV	0.595	0.51	Hold	EV/Ebitda9.7x FY16
04/21/17	Phillip	APTV	0.49	0.64	Buy	DCF, EV/Ebitda10.7x
05/16/17	Phillip	APTV	0.55	0.64	Buy	DCF, EV/Ebitda10.7x
05/17/17	Amfrasers	APTV	0.55	0.65	Buy	DDM
08/15/17	Phillip	APTV	0.58	0.64	Buy
08/16/17	Amfrasers	APTV	0.58	0.6	Buy	DDM
11/14/17	Phillip	APTV	0.605	0.64	Accumulate

Stock calls for 15 November 2017

Date	Analyst	Company	Last	Target	Call	Valuation
11/15/17	DMG & Partners	Amara	0.54	0.88	Buy	PB0.65x
11/15/17	Kim Eng	Bumitama	0.835	0.95	Buy	PER14x FY17
11/15/17	DMG & Partners	Bumitama	0.835	0.95	Buy	PER12x FY18
11/15/17	UOB Kay Hian	Bumitama	0.835	1.03	Buy	PER13x FY18
11/15/17	Credit Suisse	Bumitama	0.835	1	Outperform
11/15/17	DMG & Partners	China Everbright	0.45	0.54	Buy	DCF
11/15/17	DMG & Partners	Delfi	1.45	1.65	Buy	DCF
11/15/17	DBS Vickers	First Resources	1.93	2.18	Buy	DCF, PER14.5x FY18
11/15/17	UOB Kay Hian	First Resources	1.93	1.95	Hold	PER16x FY18, Buy @ $1.75
11/15/17	Credit Suisse	First Resources	1.93	2.3	Neutral
11/15/17	Amfrasers	Frencken	0.54	0.66	Buy	PER10x FY18
11/15/17	UOB Kay Hian	Golden Agri	0.39	0.34	Hold	PER13x FY18, Buy @ $0.3
11/15/17	OCBC	Golden Agri	0.39	0.37	Hold
11/15/17	Credit Suisse	Golden Agri	0.39	0.35	Underperform
11/15/17	CIMB	Golden Agri	0.39	0.36	Reduce	PER15x FY19
11/15/17	CIMB	HMI	0.715	0.83	Add	DCF
11/15/17	phillip	HMI	0.715	0.83	Buy	DCF
11/15/17	UOB Kay Hian	HMI	0.715	0.83	Buy	DCF
11/15/17	Kim Eng	HMI	0.715	0.8	Buy	DCF
11/15/17	UOB Kay Hian	ISDN	0.245	0.35	Buy
11/15/17	Amfrasers	Japan Foods	0.43	0.53	Buy	DCF
11/15/17	OCBC	KSH	0.865	0.79	Hold
11/15/17	Lim & Tan	Singapore Post	1.3	0	Hold
11/15/17	UOB Kay Hian	Wheelock Properties	1.95	2.33	Buy	RNAV (15% discount)
11/15/17	DBS Vickers	Yanlord	1.74	2.25	Buy	PER7.1x FY18

China has the fastest supercomputers for the fourth time in a row.

http://en.people.cn/n3/2017/1114/c90000-9292150.html

China took the first and 2nd spots in the fastest supercomputers in the world.

Great job, China!

Dr Watson is the best medical AI.

https://www.technologyreview.com/s/607965/a-reality-check-for-ibms-ai-ambitions/

IBM's medical AI, Watson, can diagnose and provide at least 3 treatment plans for the patients.  It is currently on trial in Taiwan and Japan.

Dr Watson is able to do much better than a medical doctor because it can analyze from its huge databases and prescribe the latest treatments and medicines whereby a medical doctor cannot.

This is really good news for the public.

Hot news! SMRT collision!

https://sg.news.yahoo.com/23-injured-smrt-trains-collide-joo-koon-mrt-station-030029616.html

What happened to the safety feature? The train behind shouldn't move when there is an existing train in the station.

Who will the government blame this time?  The top management is always getting away from the blame.

APAC Realty - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/25/17	Lim & Tan	APAC Realty	0.66	0	Subscribe	IPO
11/09/17	DBS Vickers	APAC Realty	0.89	1.03	Buy	DCF & PER15x FY18
11/13/17	DBS Vickers	APAC Realty	0.905	1.12	Buy	DCF & PER15x FY18

Amara - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/12/17	DMG & Partners	Amara	0.54	0.88	Buy	PB0.65x
05/17/17	DMG & Partners	Amara	0.56	0.88	Buy	PB0.65x
10/09/17	DMG & Partners	Amara	0.53	0.88	Buy

Stock calls for 14 November 2017

Date	Analyst	Company	Last	Target	Call	Valuation
11/14/17	Phillip	APTV	0.605	0.64	Accumulate
11/14/17	CIMB	Aspen	0.22	0.29	Add	RNAV (45% discount)
11/14/17	DMG & Partners	Avi-Tech	0.525	0.59	Buy	DCF, PER12x FY18
11/14/17	phillip	CNMC	0.28	0.3	Neutral	DCF
11/14/17	DMG & Partners	Comfortdelgro	2.1	2	Neutral	DCF, PER14.5x FY18
11/14/17	Kim Eng	First Resources	1.95	2.04	Hold	PER17x FY17
11/14/17	DMG & Partners	First Resources	1.95	2.13	Neutral	PER13x FY18
11/14/17	CIMB	First Resources	1.95	2.13	Add	PER13x FY19
11/14/17	DBS Vickers	Frasers Centrepoint Ltd	2.05	2.35	Buy	RNAV (20% discount), PB1x
11/14/17	CIMB	Frasers Centrepoint Ltd	2.05	2.37	Add	RNAV (30% discount)
11/14/17	OCBC	Midas	0.215	0.225	Hold
11/14/17	DMG & Partners	Moya Asia	0.101	0.17	Buy	DCF
11/14/17	DMG & Partners	Neo Group	0.66	0.64	Neutral	PER21x FY18
11/14/17	phillip	Old Chang Kee	0.75	0.98	Buy	DCF
11/14/17	DBS Vickers	PACC Offshore	0.345	0.41	Buy	PB0.8x
11/14/17	DBS Vickers	Pan-United	0.575	0.51	Fully Valued
11/14/17	SAC Advisors	Sanli Env	0.3	0.36	Buy
11/14/17	CIMB	Valuetronics	1.01	1.1	Add	PER11x CY19
11/14/17	DBS Vickers	Vard	0.245	0.25	Hold	PB0.78x, P/NTA0.99x, Offer price $0.25
11/14/17	UOB Kay Hian	Wilmar	3.32	4.1	Buy	Sum of parts, PER14x FY18
11/14/17	DMG & Partners	Wilmar	3.32	3.33	Neutral	Sum of parts
11/14/17	CIMB	Wilmar	3.32	4.27	Add	Sum of parts
11/14/17	OCBC	Wilmar	3.32	3.51	Hold
11/14/17	DBS Vickers	Yangzijiang	1.67	1.82	Buy	Sum of parts, PB1.3x

We have bitcoin gold now after bitcoin cash.

https://www.investopedia.com/news/bitcoin-gold-now-live/?partner=YahooSA&yptr=yahoo

We did warn about such splitting developments in our previous post.

https://sg-stock.blogspot.sg/2017/08/death-knell-for-virtual-currency-is.html

SMRT has a new culture now! Hush! Hush!

https://sg.news.yahoo.com/smrt-draws-flak-lack-announcements-morning-nsl-disruption-091315912.html

SMRT took steps to hush up its delay on 9 November.

https://sg.news.yahoo.com/delay-hits-north-south-line-tuesday-morning-track-fault-toa-payoh-011038906.html

SMRT took steps to hush up its delay again on 14 November.

The new culture of SMRT is setting in.  When the top management cannot resolve the problem, a new culture is being introduced.

AIMS AMP Cap Ind Reit - Stock calls

01/29/16	Kim Eng	AIMS AMP Cap Ind Reit	1.315	1.45	Hold	Yield 7.75%
03/22/16	Kim Eng	AIMS AMP Cap Ind Reit	1.34	1.47	Buy	Yield 7.75%
04/13/16	Kim Eng	AIMS AMP Cap Ind Reit	1.345	1.47	Buy	Yield 7.5%
04/20/16	Kim Eng	AIMS AMP Cap Ind Reit	1.355	1.49	Buy	Yield 7.5%
05/17/16	Kim Eng	AIMS AMP Cap Ind Reit	1.39	1.55	Buy
05/24/16	DBS Vickers	AIMS AMP Cap Ind Reit	1.38	1.52	Not Rated
06/30/16	Kim Eng	AIMS AMP Cap Ind Reit	1.38	1.55	Buy
07/27/16	Kim Eng	AIMS AMP Cap Ind Reit	1.485	1.59	Buy	Yield 7.5%
08/16/16	DBS Vickers	AIMS AMP Cap Ind Reit	1.46	1.52	Not Rated
12/06/16	Kim Eng	AIMS AMP Cap Ind Reit	1.315	1.58	Buy
05/26/17	Kim Eng	AIMS AMP Cap Ind Reit	1.415	1.6	Buy	DDM
06/22/17	Kim Eng	AIMS AMP Cap Ind Reit	1.44	1.6	Buy
07/03/17	Kim Eng	AIMS AMP Cap Ind Reit	1.48	1.6	Buy
10/27/17	Kim Eng	AIMS AMP Cap Ind Reit	1.435	1.6	Buy