Stock calls for 22 May 2018

Date	Analyst	Company	Last	Target	Call	Valuation
05/22/18	Amfrasers	Japan Foods	0.485	0.64	Buy	DCF
05/22/18	CIMB	Keppel Corp	8.19	10	Add	Sum of parts
05/22/18	CIMB	Sembcorp Marine	2.27	2.52	Add	PB2.2x CY18
05/22/18	NRA	Serial System	0.1666	0.24	Overweight	DCF
05/22/18	Amfrasers	Uni-Asia	1.4	1.81	Buy	Sum of parts, PB0.5x FY18, PER10x FY18
05/22/18	DMG & Partners	Valuetronics	0.845	0.96	Buy
05/22/18	Lim & Tan	Wheelock Properties	1.81	0	Buy

Hyflux is going bankrupt soon.

https://www.bloombergquint.com/business/2018/05/22/hyflux-said-to-mull-seeking-court-protection-for-creditor-talks#gs.9OVbY8o

The once touted Singapore female CEO is going down the abyss now.

Hyflux's share price will tank when it resumes trading.

This is what Vietnam gets after granting approval for USA aircraft carrier visitation.

https://sg.finance.yahoo.com/news/us-hikes-tariffs-chinese-steel-064531281.html

The USA tramples over Vietnam after Vietnam war by imposing steel tariffs against Vietnam. 

Vietnam must be regretting now for granting the approval for the USA aircraft carrier visitation.

http://sg-stock.blogspot.sg/2018/01/the-usa-aircraft-carrier-will-visit.html

https://www.nytimes.com/2018/03/04/world/asia/carl-vinson-vietnam.html

USA is pushing EU to forge closer relationship with China.

https://www.yahoo.com/news/germanys-merkel-visit-china-may-24-25-spokeswoman-095040740--sector.html

The USA is helping China to forge closer relationships with EU by coercing the EU with tariffs.

Many countries are going to China for political and economic benefits nowadays.

Another economist portends that bitcoin is worthless.

https://www.marketwatch.com/Story/theres-a-decent-probability-bitcoin-goes-to-zero-says-vanguard-economist-2018-05-21?&siteid=yhoof2&yptr=yahoo

More and more economists are warning about bitcoin nowadays.

http://sg-stock.blogspot.sg/2018/03/bitcoin-is-only-worth-100-not-100000-in.html

http://sg-stock.blogspot.sg/2018/03/bitcoin-is-worthless.html

http://sg-stock.blogspot.sg/2018/02/world-bank-says-bitcoin-is-scam.html

Frasers Property - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/09/17	DBS Vickers	Frasers Property	1.62	2	Buy	RNAV (30% discount)
02/10/17	DBS Vickers	Frasers Property	1.6	2	Buy	RNAV (30% discount)
02/10/17	DIR	Frasers Property	1.6	1.89	Buy	RNAV (30% discount)
02/13/17	CIMB	Frasers Property	1.67	2.02	Add	RNAV (30% discount)
03/15/17	DIR	Frasers Property	1.705	1.89	Buy	RNAV (30% discount)
03/17/17	DBS Vickers	Frasers Property	1.74	2	Buy
04/04/17	DBS Vickers	Frasers Property	1.745	2	Buy	RNAV (30% discount)
04/04/17	DIR	Frasers Property	1.745	1.91	Outperform	RNAV (30% discount)
04/10/17	CIMB	Frasers Property	1.785	2.02	Add	RNAV (20% discount)
04/17/17	Lim & Tan	Frasers Property	1.79	0	Buy
04/18/17	DIR	Frasers Property	1.755	2.03	Outperform	Sum of parts (30% discount)
05/11/17	Lim & Tan	Frasers Property	1.865	0	Buy
05/12/17	CIMB	Frasers Property	1.865	2.05	Add	RNAV (30% discount)
05/12/17	DBS Vickers	Frasers Property	1.865	2.3	Buy	RNAV (20% discount)
05/12/17	DIR	Frasers Property	1.865	2.04	Outperform	Sum of parts (30% discount)
06/09/17	UOB Kay Hian	Frasers Property	1.885	2.26	Buy
06/14/17	Lim & Tan	Frasers Property	1.89	0	Buy
08/01/17	DBS Vickers	Frasers Property	1.925	2.3	Buy	RNAV (20% discount), PB1x
08/10/17	CIMB	Frasers Property	1.915	2.09	Add	RNAV (30% discount)
08/11/17	DBS Vickers	Frasers Property	1.91	2.35	Buy	RNAV (20% discount), PB1x
09/12/17	DBS Vickers	Frasers Property	2.12	2.35	Buy
09/12/17	Lim & Tan	Frasers Property	2.12	0	Hold
11/10/17	Lim & Tan	Frasers Property	2.04	0	Buy
11/14/17	DBS Vickers	Frasers Property	2.05	2.35	Buy	RNAV (20% discount), PB1x
11/14/17	CIMB	Frasers Property	2.05	2.37	Add	RNAV (30% discount)
12/15/17	Lim & Tan	Frasers Property	2.08	0	Buy
12/18/17	DBS Vickers	Frasers Property	2.12	2.35	Buy
01/02/18	Lim & Tan	Frasers Property	2.08	0	Buy
02/12/18	CIMB	Frasers Property	1.96	2.4	Add	RNAV (30% discount)
02/12/18	DBS Vickers	Frasers Property	1.96	2.35	Buy	RNAV (20% discount), PB1x
04/13/18	DBS Vickers	Frasers Property	1.96	2.35	Buy
05/11/18	CIMB	Frasers Property	1.95	2.4	Add

Frasers Logistics - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	UOB Kay Hian	Frasers Logistics	0.925	1.11	Buy
01/09/17	DBS Vickers	Frasers Logistics	0.945	1.1	Buy	DCF
02/06/17	Lim & Tan	Frasers Logistics	0.95	0	Buy
02/07/17	DBS Vickers	Frasers Logistics	0.96	1.1	Buy	DCF
02/07/17	OCBC	Frasers Logistics	0.96	1.08	Buy	DDM
02/07/17	UOB Kay Hian	Frasers Logistics	0.96	1.11	Buy	DDM
03/02/17	UOB Kay Hian	Frasers Logistics	0.96	1.11	Buy
03/06/17	OCBC	Frasers Logistics	0.935	1.08	Buy
03/17/17	DBS Vickers	Frasers Logistics	0.95	1.1	Buy
04/10/17	DBS Vickers	Frasers Logistics	0.975	1.1	Buy	DCF
04/11/17	UOB Kay Hian	Frasers Logistics	0.975	1.11	Buy
04/24/17	CIMB	Frasers Logistics	1.02	1.1	Add	DDM
05/08/17	OCBC	Frasers Logistics	1.01	1.12	Buy
05/08/17	UOB Kay Hian	Frasers Logistics	1.01	1.11	Buy	DDM
05/09/17	CIMB	Frasers Logistics	1.025	1.1	Add	DDM
05/09/17	DBS Vickers	Frasers Logistics	1.025	1.1	Buy	DCF
06/05/17	OCBC	Frasers Logistics	1.02	1.12	Buy
06/07/17	CIMB	Frasers Logistics	1.035	1.1	Add
06/07/17	DBS Vickers	Frasers Logistics	1.035	1.1	Buy
06/07/17	DMG & Partners	Frasers Logistics	1.035	1.1	Add
06/07/17	Lim & Tan	Frasers Logistics	1.035	0	Buy
06/29/17	OCBC	Frasers Logistics	1.055	1.14	Buy
07/12/17	Lim & Tan	Frasers Logistics	1.06	1.1	Buy
07/18/17	CIMB	Frasers Logistics	1.055	1.1	Add
07/26/17	DBS Vickers	Frasers Logistics	1.1	1.15	Buy	DCF
07/28/17	UOB Kay Hian	Frasers Logistics	1.095	1.11	Buy
07/31/17	UOB Kay Hian	Frasers Logistics	1.11	1.2	Buy	DDM
07/31/17	OCBC	Frasers Logistics	1.11	1.22	Buy
07/31/17	Lim & Tan	Frasers Logistics	1.11	1.11	Hold
08/01/17	CIMB	Frasers Logistics	1.095	1.1	Add	DDM
08/01/17	DBS Vickers	Frasers Logistics	1.095	1.15	Buy
08/17/17	UOB Kay Hian	Frasers Logistics	1.07	1.2	Buy
08/22/17	OCBC	Frasers Logistics	1.07	1.22	Buy
10/05/17	OCBC	Frasers Logistics	1.08	1.22	Buy
10/10/17	CIMB	Frasers Logistics	1.085	1.2	Add	DDM
10/23/17	UOB Kay Hian	Frasers Logistics	1.115	1.2	Buy
11/02/17	Lim & Tan	Frasers Logistics	1.11	0	Buy
11/03/17	OCBC	Frasers Logistics	1.115	1.25	Buy
11/03/17	UOB Kay Hian	Frasers Logistics	1.115	1.2	Buy	DDM
11/03/17	CIMB	Frasers Logistics	1.115	1.2	Add	DDM
11/03/17	DBS Vickers	Frasers Logistics	1.115	1.18	Buy	DCF
12/01/17	UOB Kay Hian	Frasers Logistics	1.08	1.2	Buy
12/14/17	CIMB	Frasers Logistics	1.12	1.2	Add	DDM
12/14/17	OCBC	Frasers Logistics	1.12	1.25	Buy
01/10/18	OCBC	Frasers Logistics	1.19	1.25	Buy
01/29/18	CIMB	Frasers Logistics	1.15	1.24	Add	DDM
01/29/18	DBS Vickers	Frasers Logistics	1.15	1.24	Buy
03/06/18	OCBC	Frasers Logistics	1.07	1.25	Buy
04/13/18	DBS Vickers	Frasers Logistics	1.07	1.24	Buy
04/23/18	CIMB	Frasers Logistics	1.08	1.24	Add	DDM
04/23/18	OCBC	Frasers Logistics	1.08	1.25	Buy
05/08/18	OCBC	Frasers Logistics	1.02	1.25	Buy
05/09/18	CIMB	Frasers Logistics	1.03	1.24	Add	DDM
05/09/18	OCBC	Frasers Logistics	1.03	1.21	Buy

Frasers Hospitality Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/17	UOB Kay Hian	Frasers Hospitality Trust	0.65	0.74	Buy
02/09/17	DBS Vickers	Frasers Hospitality Trust	0.665	0.75	Buy	DCF
03/07/17	UOB Kay Hian	Frasers Hospitality Trust	0.68	0.74	Buy
04/11/17	UOB Kay Hian	Frasers Hospitality Trust	0.715	0.74	Buy
05/02/17	DBS Vickers	Frasers Hospitality Trust	0.73	0.85	Buy	DCF
05/25/17	UOB Kay Hian	Frasers Hospitality Trust	0.705	0.8	Buy
07/25/17	UOB Kay Hian	Frasers Hospitality Trust	0.735	0.8	Buy
07/31/17	DBS Vickers	Frasers Hospitality Trust	0.745	0.83	Buy	DCF
08/17/17	UOB Kay Hian	Frasers Hospitality Trust	0.735	0.8	Buy
10/23/17	UOB Kay Hian	Frasers Hospitality Trust	0.765	0.8	Buy
10/30/17	UOB Kay Hian	Frasers Hospitality Trust	0.775	0.85	Buy
10/30/17	Lim & Tan	Frasers Hospitality Trust	0.775	0	Hold
11/09/17	UOB Kay Hian	Frasers Hospitality Trust	0.77	0.85	Buy
12/01/17	UOB Kay Hian	Frasers Hospitality Trust	0.775	0.85	Buy
12/18/17	DBS Vickers	Frasers Hospitality Trust	0.785	0.89	Buy
01/26/18	UOB Kay Hian	Frasers Hospitality Trust	0.81	0.9	Buy	DDM
02/20/18	DBS Vickers	Frasers Hospitality Trust	0.79	0.89	Buy
03/15/18	UOB Kay Hian	Frasers Hospitality Trust	0.78	0.9	Buy
04/13/18	DBS Vickers	Frasers Hospitality Trust	0.75	0.89	Buy
04/27/18	UOB Kay Hian	Frasers Hospitality Trust	0.745	0.9	Buy
04/27/18	DBS Vickers	Frasers Hospitality Trust	0.745	0.83	Buy	DCF

Stock calls for 21 May 2018

Date	Analyst	Company	Last	Target	Call	Valuation
05/21/18	Phillip	A-Reit	2.65	2.91	Accumulate
05/21/18	Lim & Tan	Boustead Projects	0.81	0	Hold
05/21/18	phillip	Cache Logistics	0.805	0.91	Accumulate
05/21/18	DMG & Partners	Dairy Farm	8.6	9.66	Buy	DCF
05/21/18	CIMB	ESR-Reit	0.525	0.6	Add	DDM
05/21/18	DBS Vickers	ESR-Reit	0.525	0.63	Buy
05/21/18	Phillip	Keppel DC Reit	1.36	1.51	Accumulate
05/21/18	Phillip	Mapletree Industrial	1.95	2.09	Neutral
05/21/18	DMG & Partners	Sheng Siong	1	1.18	Buy	DCF & PER
05/21/18	UOB Kay Hian	SIA	11.56	12.6	Buy	Sum of parts, PB1x FY19
05/21/18	OCBC	SIA	11.56	11.3	Hold
05/21/18	DBS Vickers	SIA	11.56	13.7	Buy	PB1.2x FY19
05/21/18	UOB Kay Hian	Tianjin Zhongxin	1.2	1.72	Buy	PER14.1x FY18
05/21/18	Kim Eng	Viva Industrial	0.89	1.05	Hold
05/21/18	OCBC	Viva Industrial	0.89	0.942	Accept Offer	$0.096 cash & 1.6 ESR-Reit share (New value $0.53)
05/21/18	DBS Vickers	Yanlord	1.67	2.27	Buy	PER6x FY18

Baltic dry index - 1273

Today, Friday, May 18 2018, the Baltic Dry Index decreased by 32 points, reaching 1273 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 - 1046

HOUSTON — The number of rigs exploring for oil and natural gas in the U.S. increased by one this week to 1,046. At this time a year ago there were 901 active rigs. Houston oilfield services company Baker Hughes reported Friday that 844 rigs drilled for oil this week and 200 for gas. Two were listed as miscellaneous. Among major oil- and gas-producing states, New Mexico added three rigs and Texas tacked on two. Kansas gained one. Alaska, Colorado, Louisiana, North Dakota and Ohio each shed one rig. Arkansas, California, Oklahoma, Pennsylvania, Utah, West Virginia and Wyoming saw their rig levels unchanged this week.  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

Frasers Commercial Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/24/17	CIMB	Frasers Commercial Trust	1.28	1.26	Hold	DDM
01/24/17	DBS Vickers	Frasers Commercial Trust	1.28	1.46	Buy	DCF
01/24/17	DIR	Frasers Commercial Trust	1.28	1.36	Hold	DDM
01/24/17	DMG & Partners	Frasers Commercial Trust	1.28	1.4	Neutral	DDM
01/24/17	OCBC	Frasers Commercial Trust	1.28	1.48	Buy
02/28/17	DIR	Frasers Commercial Trust	1.27	1.42	Outperform	DDM
03/10/17	DMG & Partners	Frasers Commercial Trust	1.255	1.4	Neutral
03/14/17	OCBC	Frasers Commercial Trust	1.25	1.39	Buy
04/07/17	DMG & Partners	Frasers Commercial Trust	1.315	1.4	Neutral	DDM
04/18/17	DIR	Frasers Commercial Trust	1.325	1.42	Outperform
04/21/17	OCBC	Frasers Commercial Trust	1.325	1.39	Buy
04/24/17	CIMB	Frasers Commercial Trust	1.335	1.35	Hold	DDM
04/24/17	DIR	Frasers Commercial Trust	1.335	1.45	Outperform	DDM
04/25/17	DBS Vickers	Frasers Commercial Trust	1.35	1.52	Buy	DCF
05/30/17	DBS Vickers	Frasers Commercial Trust	1.38	1.52	Buy	DCF
07/12/17	DMG & Partners	Frasers Commercial Trust	1.41	1.4	Neutral
07/25/17	CIMB	Frasers Commercial Trust	1.425	1.45	Hold	DDM
07/25/17	DBS Vickers	Frasers Commercial Trust	1.425	1.61	Buy	DCF
07/26/17	OCBC	Frasers Commercial Trust	1.44	1.42	Hold
07/26/17	DIR	Frasers Commercial Trust	1.44	1.45	Hold	DDM
09/04/17	OCBC	Frasers Commercial Trust	1.395	1.42	Hold
09/21/17	DMG & Partners	Frasers Commercial Trust	1.41	1.4	Neutral
09/25/17	Lim & Tan	Frasers Commercial Trust	1.395	0	Hold
09/26/17	DIR	Frasers Commercial Trust	1.38	1.43	Hold	DDM
10/23/17	OCBC	Frasers Commercial Trust	1.41	1.42	Hold	DDM
10/23/17	DMG & Partners	Frasers Commercial Trust	1.41	1.39	Neutral	DDM
10/23/17	CIMB	Frasers Commercial Trust	1.41	1.46	Hold	DDM
10/23/17	DBS Vickers	Frasers Commercial Trust	1.41	1.55	Buy	DCF
11/06/17	OCBC	Frasers Commercial Trust	1.39	1.42	Hold
11/07/17	DBS Vickers	Frasers Commercial Trust	1.395	1.55	Buy	DCF
12/15/17	OCBC	Frasers Commercial Trust	1.44	1.42	Hold
12/18/17	OCBC	Frasers Commercial Trust	1.42	1.51	Buy	DDM
01/05/18	DMG & Partners	Frasers Commercial Trust	1.53	1.39	Neutral
01/19/18	DBS Vickers	Frasers Commercial Trust	1.51	1.71	Buy	DCF
01/23/18	OCBC	Frasers Commercial Trust	1.55	1.51	Hold
01/23/18	DMG & Partners	Frasers Commercial Trust	1.55	1.55	Neutral	DDM
01/24/18	CIMB	Frasers Commercial Trust	1.52	1.55	Hold	DDM
02/20/18	DBS Vickers	Frasers Commercial Trust	1.44	1.71	Buy
04/05/18	OCBC	Frasers Commercial Trust	1.41	1.51	Buy
04/13/18	DBS Vickers	Frasers Commercial Trust	1.46	1.71	Buy	DCF
04/23/18	CIMB	Frasers Commercial Trust	1.46	1.5	Hold	DDM
04/23/18	OCBC	Frasers Commercial Trust	1.46	1.54	Buy
04/23/18	DMG & Partners	Frasers Commercial Trust	1.46	1.49	Neutral	DDM
04/23/18	DBS Vickers	Frasers Commercial Trust	1.46	1.65	Buy	DCF
04/23/18	Kim Eng	Frasers Commercial Trust	1.46	2.55	Buy
05/17/18	DMG & Partners	Frasers Commercial Trust	1.36	1.49	Neutral

Fortune Centrepoint Trust - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	DMG & Partners	Frasers Centrepoint Trust	1.9	2.22	Buy	DDM
01/09/17	DBS Vickers	Frasers Centrepoint Trust	1.97	2.29	Buy	DCF
01/12/17	HSBC	Frasers Centrepoint Trust	1.995	2.3	Buy
01/18/17	DIR	Frasers Centrepoint Trust	1.99	2.28	Outperform	DDM
01/23/17	CIMB	Frasers Centrepoint Trust	1.965	2.01	Add	DDM
01/23/17	DBS Vickers	Frasers Centrepoint Trust	1.965	2.2	Buy	DCF
01/23/17	Lim & Tan	Frasers Centrepoint Trust	1.965	0	Hold
01/23/17	OCBC	Frasers Centrepoint Trust	1.965	2.28	Buy
01/23/17	Phillip	Frasers Centrepoint Trust	1.965	2	Neutral	DDM
01/31/17	Credit Suisse	Frasers Centrepoint Trust	1.995	2.23	Outperform
03/06/17	OCBC	Frasers Centrepoint Trust	2.01	2.28	Buy
03/07/17	UOB Kay Hian	Frasers Centrepoint Trust	2.01	2.15	Hold
03/10/17	DMG & Partners	Frasers Centrepoint Trust	1.965	2.22	Buy
03/27/17	DIR	Frasers Centrepoint Trust	2.06	2.28	Outperform	DDM
04/07/17	DMG & Partners	Frasers Centrepoint Trust	2.06	2.22	Buy	DDM
04/11/17	UOB Kay Hian	Frasers Centrepoint Trust	2.07	2.15	Hold	DDM, Buy @ $1.90
04/18/17	DIR	Frasers Centrepoint Trust	2.09	2.28	Outperform
04/25/17	OCBC	Frasers Centrepoint Trust	2.12	2.28	Buy
04/26/17	CIMB	Frasers Centrepoint Trust	2.11	2.2	Add	DDM
04/26/17	DBS Vickers	Frasers Centrepoint Trust	2.11	2.2	Buy	DCF
04/26/17	DIR	Frasers Centrepoint Trust	2.11	2.31	Outperform	DDM
04/27/17	Lim & Tan	Frasers Centrepoint Trust	2.15	0	Hold
04/27/17	Phillip	Frasers Centrepoint Trust	2.15	2.04	Neutral	DDM
05/11/17	Amfrasers	Frasers Centrepoint Trust	2.01	2.1	Buy	DDM
05/25/17	UOB Kay Hian	Frasers Centrepoint Trust	2.08	2.26	Buy
05/30/17	DBS Vickers	Frasers Centrepoint Trust	2.08	2.2	Buy	DCF
06/05/17	OCBC	Frasers Centrepoint Trust	2.1	2.28	Buy
06/06/17	DIR	Frasers Centrepoint Trust	2.09	2.31	Outperform
06/14/17	Amfrasers	Frasers Centrepoint Trust	2.13	2.1	Hold
07/04/17	DMG & Partners	Frasers Centrepoint Trust	2.14	2.22	Buy
07/25/17	Lim & Tan	Frasers Centrepoint Trust	2.14	0	Buy
07/25/17	Phillip	Frasers Centrepoint Trust	2.14	2.14	Neutral	DDM, PB1.11x FY17
07/25/17	DIR	Frasers Centrepoint Trust	2.14	2.36	Outperform	DDM
07/25/17	Amfrasers	Frasers Centrepoint Trust	2.14	2.11	Hold	DDM
07/25/17	UOB Kay Hian	Frasers Centrepoint Trust	2.14	2.26	Buy	DDM
07/25/17	Credit Suisse	Frasers Centrepoint Trust	2.14	2.24	Outperform
07/25/17	CIMB	Frasers Centrepoint Trust	2.14	2.34	Add	DDM
07/25/17	OCBC	Frasers Centrepoint Trust	2.14	2.28	Buy
07/26/17	DBS Vickers	Frasers Centrepoint Trust	2.14	2.26	Buy
08/22/17	OCBC	Frasers Centrepoint Trust	2.11	2.28	Buy
09/13/17	Credit Suisse	Frasers Centrepoint Trust	2.15	2.27	Outperform
09/21/17	DMG & Partners	Frasers Centrepoint Trust	2.13	2.22	Buy
10/23/17	UOB Kay Hian	Frasers Centrepoint Trust	2.19	2.26	buy
10/25/17	Lim & Tan	Frasers Centrepoint Trust	2.24	0	Buy
10/26/17	OCBC	Frasers Centrepoint Trust	2.21	2.4	Buy	DDM
10/26/17	Phillip	Frasers Centrepoint Trust	2.21	2.14	Neutral	DDM
10/26/17	DMG & Partners	Frasers Centrepoint Trust	2.21	2.24	Neutral	DDM
10/26/17	UOB Kay Hian	Frasers Centrepoint Trust	2.21	2.43	Buy	DDM
10/26/17	CIMB	Frasers Centrepoint Trust	2.21	2.38	Add	DDM
10/26/17	DBS Vickers	Frasers Centrepoint Trust	2.21	2.37	Buy
10/26/17	Credit Suisse	Frasers Centrepoint Trust	2.21	2.26	Buy
11/30/17	OCBC	Frasers Centrepoint Trust	2.21	2.4	Buy
12/01/17	UOB Kay Hian	Frasers Centrepoint Trust	2.22	2.43	Buy
12/14/17	CIMB	Frasers Centrepoint Trust	2.21	2.38	Add	DDM
12/14/17	OCBC	Frasers Centrepoint Trust	2.21	2.4	Buy
12/18/17	DBS Vickers	Frasers Centrepoint Trust	2.2	2.37	Buy
12/19/17	DMG & Partners	Frasers Centrepoint Trust	2.2	2.24	Neutral
01/02/18	Kim Eng	Frasers Centrepoint Trust	2.24	2.45	Buy	DDM
01/05/18	DMG & Partners	Frasers Centrepoint Trust	2.29	2.24	Neutral
01/15/18	OCBC	Frasers Centrepoint Trust	2.26	2.4	Buy
01/24/18	Phillip	Frasers Centrepoint Trust	2.3	2.14	Neutral	DDM, PB1.06x
01/24/18	UOB Kay Hian	Frasers Centrepoint Trust	2.3	2.43	Buy	DDM
01/24/18	Credit Suisse	Frasers Centrepoint Trust	2.3	2.26	Neutral
01/24/18	OCBC	Frasers Centrepoint Trust	2.3	2.49	Buy
01/24/18	CIMB	Frasers Centrepoint Trust	2.3	2.41	Add	DDM
01/24/18	Lim & Tan	Frasers Centrepoint Trust	2.3	0	Buy
01/24/18	DBS Vickers	Frasers Centrepoint Trust	2.3	2.48	Buy
02/20/18	DBS Vickers	Frasers Centrepoint Trust	2.15	2.48	Buy
03/06/18	OCBC	Frasers Centrepoint Trust	2.18	2.49	Buy
04/12/18	Kim Eng	Frasers Centrepoint Trust	2.25	2.55	Buy
04/13/18	DBS Vickers	Frasers Centrepoint Trust	2.24	2.48	Buy
04/25/18	OCBC	Frasers Centrepoint Trust	2.22	2.49	Buy
04/26/18	Phillip	Frasers Centrepoint Trust	2.21	2.14	Neutral	DDM, PB1.06x
04/26/18	UOB Kay Hian	Frasers Centrepoint Trust	2.21	2.43	Buy	DDM
04/26/18	DBS Vickers	Frasers Centrepoint Trust	2.21	2.45	Buy
04/26/18	CIMB	Frasers Centrepoint Trust	2.21	2.41	Add	DDM
05/08/18	DBS Vickers	Frasers Centrepoint Trust	2.21	2.45	Buy
05/17/18	DMG & Partners	Frasers Centrepoint Trust	2.16	2.24	Neutral

Fortune Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/01/17	DIR	Fortune Reit	9.02	10.9	Buy	DDM
08/01/17	DIR	Fortune Reit	9.72	10.9	Outperform

Stock calls for 18 May 2018

Date	Analyst	Company	Last	Target	Call	Valuation
05/18/18	DMG & Partners	CapitaCommercial	1.72	1.65	Neutral	DDM
05/18/18	CIMB	CapitaCommercial	1.72	1.94	Add	DDM
05/18/18	Amfrasers	Cityneon	1	154	Buy	PER14x FY18
05/18/18	phillip	Golden Energy	0.365	0.48	Buy	PER10x FY18
05/18/18	DMG & Partners	GSS Energy	0.151	0.25	Buy	Sum of parts
05/18/18	DMG & Partners	Jadason	0.05	0.05	Neutral	DCF
05/18/18	DBS Vickers	Mermaid Maritime	0.138	0.13	Hold	PB0.6x
05/18/18	Lim & Tan	SIA	11.14	0	Hold
05/18/18	CIMB	SIA	11.14	11.75	Add
05/18/18	UOB Kay Hian	Singtel	3.44	4.22	Buy	DCF
05/18/18	DMG & Partners	Singtel	3.44	3.9	Buy	Sum of parts
05/18/18	CIMB	Singtel	3.44	3.9	Add	Sum of parts
05/18/18	OCBC	Singtel	3.44	4.1	Buy
05/18/18	Kim Eng	Singtel	3.44	3.57	Hold	Sum of parts