Stock calls for 27 July 2018

Date	Analyst	Company	Last	Target	Call	Valuation
07/27/18	OCBC	A-Reit	2.72	2.71	Hold
07/27/18	DBS Vickers	Citic Envirotech	0.59	0.95	Buy	PER20x FY19
07/27/18	DBS Vickers	Dairy Farm	9.23	9.35	Hold	Sum of parts
07/27/18	Phillip	Frasers Centrepoint Trust	2.24	2.15	Neutral	DDM, PB1.11x FY18
07/27/18	CIMB	Hongkong Land	7.15	9.5	Add	RNAV (30% discount)
07/27/18	Kim Eng	Mapletree Commercial	1.64	1.5	Hold	DDM
07/27/18	CIMB	Mapletree Commercial	1.64	1.75	Add	DDM
07/27/18	DBS Vickers	Mapletree Commercial	1.64	1.8	Buy
07/27/18	CIMB	Parkway Life	2.75	3.05	Hold	DDM
07/27/18	DBS Vickers	Parkway Life	2.75	3.15	Buy	DCF
07/27/18	Lim & Tan	SIA	10.8	0	Hold
07/27/18	OCBC	SIA	10.8	11.01	Hold
07/27/18	DMG & Partners	Silverlake	0.515	0.65	Buy	DCF, PER23x FY19

China struck back at US companies!

https://sg.finance.yahoo.com/news/qualcomm-ceo-ring-alone-u-china-spat-kills-051802531--finance.html

China has struck back at US companies after the US government blocked the merger between Broadcomm and Qualcomm.

China didn't give its approval for the merger between Qualcomm and NXP to show its displeasure against US discriminating business practices.

Beautiful highways in China.

Hangzhou to Jingdezhen Expressway

Yongshun County to Jishou County

Beautiful and magnificent highways in China!

Scary dust storm hit China.

The dust storm will skim resident cars' paints and windows, leaving scratches everywhere.

It is indeed scary, just like the end of the world.

SIA - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/10/17	DIR	SIA	9.83	8.62	Underperform	PB0.8x FY17
01/11/17	UOB Kay Hian	SIA	9.86	10.1	Hold
02/08/17	CIMB	SIA	9.72	10.5	Hold	PB0.9x CY17
02/08/17	DBS Vickers	SIA	9.72	10.1	Hold	PB0.9x FY17
02/08/17	DIR	SIA	9.72	8.62	Underperform	PB0.8x FY17
02/08/17	Kim Eng	SIA	9.72	9.7	Hold	PB0.86x FY17
02/08/17	Lim & Tan	SIA	9.72	0	Sell
02/08/17	UOB Kay Hian	SIA	9.72	10.1	Hold	PB0.7x FY17 ex-SIAEC
02/09/17	Credit Suisse	SIA	9.8	10.2	Neutral
02/09/17	OCBC	SIA	9.8	10.36	Hold
02/09/17	UOB Kay Hian	SIA	9.8	10.4	Hold	PB0.7x FY18 ex-SIAEC, Buy @ $9.60
03/08/17	UOB Kay Hian	SIA	9.95	10.4	Hold	PB0.7x FY18 ex-SIAEC, Buy @ $9.90
03/17/17	Lim & Tan	SIA	9.97	0	Hold
03/22/17	OCBC	SIA	10.04	10.36	Hold
04/05/17	UOB Kay Hian	SIA	10.27	10.4	Hold	PB0.7x FY18 ex-SIAEC, Buy @ $9.90
05/05/17	UOB Kay Hian	SIA	10.35	10.4	Hold	PB0.7x FY17 ex-SIAEC
05/19/17	DIR	SIA	10.76	9.06	Underperform	PB0.8x FY18
05/19/17	Lim & Tan	SIA	10.76	0	Sell
05/19/17	UOB Kay Hian	SIA	10.76	10.1	Hold	PB0.7x FY17 ex-SIAEC
05/22/17	CIMB	SIA	9.98	10	Reduce	PB0.9x
05/22/17	Credit Suisse	SIA	9.98	10	Neutral	PB0.9x FY18
05/22/17	DBS Vickers	SIA	9.98	10.1	Hold	PB0.9x
05/22/17	OCBC	SIA	9.98	10.03	Hold	PB0.9x FY18
05/22/17	UOB Kay Hian	SIA	9.98	10	Hold	PB0.7x FY17 ex-SIAEC, Buy @ $9
06/06/17	UOB Kay Hian	SIA	10.03	10	Hold	Buy @ $9
06/12/17	Credit Suisse	SIA	10.08	10	Neutral
06/23/17	OCBC	SIA	9.94	10.03	Hold
06/29/17	DIR	SIA	10.08	9.06	Underperform	PB0.8x FY18
07/03/17	UOB Kay Hian	SIA	10.12	10	Hold
07/27/17	Kim Eng	SIA	10.13	10.85	Hold	PB0.93x FY18
07/28/17	DIR	SIA	10.15	9.06	Underperform
07/31/17	CIMB	SIA	10.28	10	Reduce	PB0.9x
08/01/17	UOB Kay Hian	SIA	10.39	10.1	Hold	Sum of parts, Buy @ $9.10
08/01/17	OCBC	SIA	10.39	10.1	Hold	PB0.9x FY18
08/14/17	CIMB	SIA	10.59	10.42	Hold	PB0.9x
08/30/17	DIR	SIA	10.29	9.06	Underperform	PB0.8x FY18
09/05/17	OCBC	SIA	10.25	10.1	Hold
09/19/17	UOB Kay Hian	SIA	10.2	10.1	Hold	PB0.7x FY18, Buy @ $9.50 or lower
09/19/17	DIR	SIA	10.2	9.06	Underperform	PB0.8x FY18
10/12/17	Crucial Perspective	SIA	10.16	11.1	Outperform
10/27/17	UOB Kay Hian	SIA	10.22	10.1	Hold
11/08/17	UOB Kay Hian	SIA	10.32	11.1	Hold	PB0.8x, Buy @ $10.3
11/09/17	OCBC	SIA	10.75	10.5	Hold	PB0.9x FY18
11/09/17	Credit Suisse	SIA	10.75	10.25	Neutral	PB0.9x
11/09/17	CIMB	SIA	10.75	10.82	Hold
11/09/17	DBS Vickers	SIA	10.75	10.3	Hold	PB0.9x FY18
11/09/17	Kim Eng	SIA	10.75	10.95	Hold	PB0.93x FY18
12/20/17	CIMB	SIA	10.65	10.82	Hold
01/03/18	UOB Kay Hian	SIA	10.67	11.9	Buy	PB0.9x FY18
01/03/18	OCBC	SIA	10.67	10.5	Hold
01/31/18	DBS Vickers	SIA	11.31	10.55	Hold
02/09/18	Kim Eng	SIA	10.86	10.95	Hold	PB0.93x FY18
02/14/18	CIMB	SIA	10.62	12.05	Add	PB1x CY18
02/14/18	UOB Kay Hian	SIA	10.62	11.9	Buy	PB0.9x FY18
02/14/18	DBS Vickers	SIA	10.62	12	Buy	PB1x FY19
02/15/18	OCBC	SIA	11.15	10.85	Hold	PB0.9x FY18
02/15/18	Credit Suisse	SIA	11.15	10.7	Neutral
03/09/18	UOB Kay Hian	SIA	11.01	11.9	Buy
03/15/18	Lim & Tan	SIA	11.2	0	Neutral
05/07/18	UOB Kay Hian	SIA	11.03	11.9	Buy	PB0.9x FY18
05/18/18	Lim & Tan	SIA	11.14	0	Hold
05/18/18	CIMB	SIA	11.14	11.75	Add	PB1.05x
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
06/05/18	DBS Vickers	SIA	11.48	13.7	Buy
06/11/18	UOB Kay Hian	SIA	11.43	12.6	Buy
06/19/18	UOB Kay Hian	SIA	11.2	11.9	Hold	PB0.95x, Buy @ $10.9
06/21/18	OCBC	SIA	11.01	11.3	Hold
07/03/18	UOB Kay Hian	SIA	10.42	11.9	Hold	PB0.9x, Buy @ $10.50-10.60

SHS - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/25/18	phillip	SHS	0.23	0.29	Buy	PER10x FY19

Shopper360 - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/13/18	phillip	Shopper360	0.18	0.33	Trading Buy	PER7x FY19

Stock calls for 26 July 2018

Date	Analyst	Company	Last	Target	Call	Valuation
07/26/18	DBS Vickers	Ascendas India Trust	1.09	1.25	Buy	DDM
07/26/18	CIMB	Frasers Commercial Trust	1.46	1.5	Hold	DDM
07/26/18	CIMB	Genting	1.29	1.44	Add	EV/Ebitda11.5x FY19
07/26/18	UOB Kay Hian	Mapletree Industrial	2.02	1.94	Hold	DDM, Buy @ $1.76
07/26/18	OCBC	Mapletree Industrial	2.02	2.08	Hold
07/26/18	CIMB	Mapletree Industrial	2.02	2.13	Add	DDM
07/26/18	Lim & Tan	Parkway Life	2.78	0	Buy
07/26/18	CIMB	Suntec Reit	1.87	2.08	Add	DDM
07/26/18	UOB Kay Hian	Suntec Reit	1.87	2.01	Hold	DDM, Buy @ $1.83
07/26/18	DBS Vickers	Suntec Reit	1.87	2.3	Buy	DCF

Temasek has lost again in another investment.

https://www.theonlinecitizen.com/2018/07/25/barely-4-months-after-temasek-invested-millions-in-turkish-restaurant-chain-its-parent-conglomerate-is-facing-severe-debt-restructuring-woes/

https://www.bloombergquint.com/business/2018/04/16/salt-bae-diner-s-owner-said-to-start-talks-on-2-5-billion-debt#gs.a0KevRY

A due diligence would have detected the severe debt problems unless the owner fudged the accounting statements.  The investment manager who recommended Temasek to invest must be fired for not doing a proper due diligence and caused Temasek to lose so much money.

Turkey is a high-risk country to invest in because it is politically and economically unstable.  How can Temasek not know about this as Turkey is always involved in the middle eastern affairs?  Temasek had definitely overpaid for this investment and would not be able to recover the investment.  I hope Temasek won't suffer the same fate for the Hainan airlines investment too.

https://sg-stock.blogspot.com/2018/06/temasek-is-interested-to-buy-hainan.html

Singapore awards new 66 MRT trains to Bombardier.

https://www.channelnewsasia.com/news/singapore/new-fleet-to-replace-66-oldest-mrt-trains-from-2021-10561652

Singapore is moving away from Germany, Japan & China technologies and in favour of Canadian technology.

https://en.wikipedia.org/wiki/Kawasaki_Heavy_Industries_C151

The 66 old MRT trains are believed to be from Japan (Kawasaki Heavy Industries) because the number matches the new order. I guess the Kobe steel scandal has scared off the Singapore government.

Diplomatic relationship between Singapore and Malaysia will wane under Mahathir.

https://sg.news.yahoo.com/singapore-ties-wane-under-pakatan-023307929.html

BMI research has hit the head of the nail this time.  We've stated this many times in our previous posts.

http://sg-stock.blogspot.com/2018/06/here-we-go-again-mahathir-is-skinning.html

Sheng Siong - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	DMG & Partners	Sheng Siong	0.95	1.21	Buy	DCF, PER26x FY17
01/19/17	DBS Vickers	Sheng Siong	0.925	1.19	Buy
01/20/17	UOB Kay Hian	Sheng Siong	0.93	1.12	Buy	PER25.1x FY17
02/01/17	OCBC	Sheng Siong	0.93	1.15	Buy
02/07/17	DMG & Partners	Sheng Siong	0.95	1.21	Buy
02/24/17	DIR	Sheng Siong	0.955	1.04	Hold	DCF
02/27/17	CIMB	Sheng Siong	0.955	0.94	Hold	PER23.3x CY18
02/27/17	DBS Vickers	Sheng Siong	0.955	1.13	Buy	PER25x FY17
02/27/17	DIR	Sheng Siong	0.955	1.01	Hold	DCF
02/27/17	Kim Eng	Sheng Siong	0.955	0.85	Sell	DCF
02/27/17	phillip	Sheng Siong	0.955	1.06	Accumulate	PER23x
02/27/17	UOB Kay Hian	Sheng Siong	0.955	1.08	Buy	PER23.2x FY18
03/08/17	DMG & Partners	Sheng Siong	0.94	1.21	Buy	DCF
03/14/17	CIMB	Sheng Siong	0.94	0.94	Hold	PER23.3x CY18
03/17/17	DBS Vickers	Sheng Siong	0.935	1.13	Buy
04/10/17	DBS Vickers	Sheng Siong	0.995	1.13	Buy	PER25x FY17
04/17/17	phillip	Sheng Siong	0.99	1.06	Accumulate
05/02/17	DIR	Sheng Siong	0.98	1.01	Hold	DCF
05/02/17	DMG & Partners	Sheng Siong	0.98	1.21	Buy	DCF
05/02/17	OCBC	Sheng Siong	0.98	1.15	Buy
05/03/17	CIMB	Sheng Siong	0.975	0.94	Hold
05/03/17	DBS Vickers	Sheng Siong	0.975	1.14	Buy	PER25x FY17
05/03/17	Kim Eng	Sheng Siong	0.975	0.85	Sell	DCF
05/03/17	phillip	Sheng Siong	0.975	1.06	Accumulate	PER23x FY17
05/03/17	UOB Kay Hian	Sheng Siong	0.975	1.09	Buy	PER23.2x FY18
06/13/17	OCBC	Sheng Siong	0.98	1.15	Buy
06/14/17	DIR	Sheng Siong	0.985	1.01	Hold	DCF
06/16/17	DBS Vickers	Sheng Siong	0.975	1.14	Buy
06/21/17	DBS Vickers	Sheng Siong	0.975	1.2	Buy	PER25x FY18
07/04/17	DMG & Partners	Sheng Siong	1	1.21	Buy
07/14/17	OCBC	Sheng Siong	0.98	1.15	Buy
07/28/17	DIR	Sheng Siong	0.95	1.01	Hold	DCF
07/28/17	CIMB	Sheng Siong	0.95	0.94	Hold	PER23.3x CY18
07/28/17	DBS Vickers	Sheng Siong	0.95	1.2	Buy	PER25x FY18
07/31/17	DIR	Sheng Siong	0.96	0.86	Underperform	DCF
07/31/17	phillip	Sheng Siong	0.96	1.06	Accumulate	PER23x
07/31/17	UOB Kay Hian	Sheng Siong	0.96	1.06	Hold	PER23.2x FY18, Buy @ $0.90
07/31/17	DMG & Partners	Sheng Siong	0.96	1.05	Neutral	DCF & PER20x
07/31/17	OCBC	Sheng Siong	0.96	1.04	Buy
09/07/17	OCBC	Sheng Siong	0.92	1.04	Buy
10/27/17	DBS Vickers	Sheng Siong	0.93	1.19	Buy	PER25x FY18
10/27/17	DMG & Partners	Sheng Siong	0.93	0.98	Neutral	DCF & PER18x
10/27/17	DIR	Sheng Siong	0.93	0.88	Underperform	DCF
10/30/17	phillip	Sheng Siong	0.94	1.13	Buy	PER23x
10/30/17	UOB Kay Hian	Sheng Siong	0.94	1.06	Hold	PER22.5x FY18
10/30/17	OCBC	Sheng Siong	0.94	1.04	Buy
10/30/17	CIMB	Sheng Siong	0.94	0.98	Hold	PER22.6x CY18
11/20/17	DIR	Sheng Siong	0.965	0.88	Underperform	DCF
11/29/17	DMG & Partners	Sheng Siong	0.95	0.98	Neutral
12/04/17	phillip	Sheng Siong	0.935	1.18	Buy
02/19/18	DMG & Partners	Sheng Siong	0.915	0.99	Neutral	Up from $0.93
02/20/18	UOB Kay Hian	Sheng Siong	0.92	1.06	Hold
02/23/18	DBS Vickers	Sheng Siong	0.925	1.2	Buy	PER25x FY18
02/26/18	phillip	Sheng Siong	0.93	1.13	Buy	PER23x FY18
02/26/18	DMG & Partners	Sheng Siong	0.93	0.98	Neutral	DCF & PER
02/26/18	OCBC	Sheng Siong	0.93	1.06	Buy
02/26/18	CIMB	Sheng Siong	0.93	1.08	Add	PER22.3x CY19
03/19/18	phillip	Sheng Siong	0.945	1.13	Buy
04/03/18	Kim Eng	Sheng Siong	0.95	1.2	Buy	DCF, PER25x FY18, EV/Ebitda7x
04/03/18	UOB Kay Hian	Sheng Siong	0.95	1.1	Buy
04/11/18	DMG & Partners	Sheng Siong	0.97	1.11	Buy	DCF & PER21x
04/16/18	phillip	Sheng Siong	1	1.13	Accumulate
04/30/18	DMG & Partners	Sheng Siong	1.02	1.18	Buy	DCF & PER
04/30/18	UOB Kay Hian	Sheng Siong	1.02	1.09	Hold	PER22.5x FY18, Buy @ $0.98
04/30/18	OCBC	Sheng Siong	1.02	1.06	Buy
04/30/18	DBS Vickers	Sheng Siong	1.02	1.21	Buy	PER25x FY18
05/02/18	phillip	Sheng Siong	1.02	1.13	Accumulate	PER23x FY18
05/02/18	CIMB	Sheng Siong	1.02	1.18	Add	PER22.3x FY19
05/21/18	DMG & Partners	Sheng Siong	1	1.18	Buy	DCF & PER
06/22/18	DMG & Partners	Sheng Siong	1	1.18	Buy
06/28/18	OCBC	Sheng Siong	1.05	1.12	Buy
07/04/18	CIMB	Sheng Siong	1.06	1.18	Add	PER22.2x FY19
07/13/18	DMG & Partners	Sheng Siong	1.08	1.27	Buy	DCF

SGX - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/11/17	Credit Suisse	SGX	7.24	7.6	Neutral
01/11/17	Goldman Sachs	SGX	7.24	7.3	Neutral
01/11/17	Deutsche	SGX	7.24	7	Hold
01/16/17	DBS Vickers	SGX	7.39	8.3	Buy	DDM
01/16/17	DMG & Partners	SGX	7.39	9.1	Buy	PER25x FY18
01/16/17	UBS	SGX	7.39	8	Buy
01/20/17	CIMB	SGX	7.48	7.23	Hold	DDM
01/20/17	Lim & Tan	SGX	7.48	0	Buy
01/20/17	OCBC	SGX	7.48	7.64	Hold	PER22x, Buy @ $7.20 or lower
02/09/17	Credit Suisse	SGX	7.55	7.6	Neutral
02/14/17	Macquarie	SGX	7.62	8.25	Outperform
03/09/17	Credit Suisse	SGX	7.57	7.6	Neutral
03/09/17	phillip	SGX	7.57	7.75	Accumulate
03/14/17	DMG & Partners	SGX	7.58	9.1	Buy	PER25x FY18
03/17/17	DBS Vickers	SGX	7.63	8.3	Buy
03/28/17	CIMB	SGX	7.56	8.09	Add	PER24x FY18
03/28/17	JP Morgan	SGX	7.56	8.5	Overweight	Up from $7.90
03/28/17	Goldman Sachs	SGX	7.56	7.95	Neutral
04/10/17	Credit Suisse	SGX	7.66	7.6	Neutral
04/12/17	CIMB	SGX	7.58	8.09	Add	PER24x FY18
04/12/17	UBS	SGX	7.58	8.4	Buy
04/21/17	CIMB	SGX	7.45	8.16	Add	PER24x FY18
04/21/17	DMG & Partners	SGX	7.45	9.1	Buy	PER25x FY18
04/21/17	Lim & Tan	SGX	7.45	0	Buy
04/21/17	Macquarie	SGX	7.45	7.5	Neutral	DDM, PER22.3x
04/21/17	OCBC	SGX	7.45	7.53	Hold	Buy @ $7.1 or lower
04/21/17	phillip	SGX	7.45	7.45	Neutral	PER23.9x
04/21/17	Goldman Sachs	SGX	7.45	7.8	Neutral
05/08/17	Credit Suisse	SGX	7.43	7.6	Neutral
05/24/17	DMG & Partners	SGX	7.41	9.1	Buy	PER25x FY18
05/24/17	Goldman Sachs	SGX	7.41	7.9	Neutral
06/20/17	DMG & Partners	SGX	7.34	9	Buy	PER24x FY18
06/20/17	Lim & Tan	SGX	7.34	0	Buy
07/28/17	CIMB	SGX	7.54	8.04	Add	PER24x FY18
07/28/17	Credit Suisse	SGX	7.54	7.6	Neutral
07/28/17	DMG & Partners	SGX	7.54	9	Buy	PER24x FY18
07/28/17	OCBC	SGX	7.54	7.83	Hold	PER23x
07/28/17	JP Morgan	SGX	7.54	8.4	Overweight
07/31/17	phillip	SGX	7.59	7.63	Accumulate	PER23.9x
07/31/17	DBS Vickers	SGX	7.59	8.2	Buy	PER24x FY18
09/08/17	Credit Suisse	SGX	7.46	7.6	Neutral
09/18/17	DMG & Partners	SGX	7.42	9	Buy	PER24x FY19
09/27/17	Goldman Sachs	SGX	7.44	8.5	Buy
10/11/17	Credit Suisse	SGX	7.64	7.6	Neutral
10/11/17	JP Morgan	SGX	7.64	8.3	Overweight
10/17/17	phillip	SGX	7.66	8.39	Accumulate	PER23.9x
10/19/17	Lim & Tan	SGX	7.63	0	Buy
10/26/17	CIMB	SGX	7.57	8.21	Add	PER24x FY19
10/26/17	DMG & Partners	SGX	7.57	9	Buy	PER24x FY19
10/26/17	OCBC	SGX	7.57	7.87	Hold
10/26/17	DBS Vickers	SGX	7.57	8.4	Buy	DDM, PER24x FY18
10/27/17	phillip	SGX	7.61	8.31	Accumulate	PER23.9x
11/21/17	phillip	SGX	7.52	8.31	Accumulate	PER23.9x
11/21/17	JP Morgan	SGX	7.52	8.4	Overweight
11/21/17	Goldman Sachs	SGX	7.52	8.6	Buy
12/04/17	DMG & Partners	SGX	7.55	9	Buy	PER24x FY19
12/20/17	CIMB	SGX	7.43	8.21	Add
12/20/17	Kim Eng	SGX	7.43	8.3	Buy
01/22/18	DMG & Partners	SGX	7.98	9	Buy	PER24x FY19
01/22/18	Kim Eng	SGX	7.98	8.82	Buy	PER23x FY19
01/22/18	DBS Vickers	SGX	7.98	8.9	Buy	DDM, PER21x FY19
01/22/18	OCBC	SGX	7.98	8.16	Hold	PER24x FY18
01/22/18	CIMB	SGX	7.98	8.5	Add	PER24x FY19
01/22/18	phillip	SGX	7.98	9	Accumulate	DCF
01/22/18	UBS	SGX	7.98	8.7	Buy
02/07/18	CIMB	SGX	7.88	8.5	Add	PER24x FY19
02/07/18	DMG & Partners	SGX	7.88	9	Buy	PER24x FY19
02/07/18	OCBC	SGX	7.88	8.16	Hold
02/07/18	Kim Eng	SGX	7.88	8.82	Buy	PER23x FY19
02/07/18	DBS Vickers	SGX	7.88	8.9	Buy	DDM, PER21x FY19
02/13/18	JP Morgan	SGX	7.31	9	Overweight
02/13/18	Jefferies	SGX	7.31	8	Buy
02/13/18	UBS	SGX	7.31	8.7	Buy
02/13/18	CIMB	SGX	7.31	7.85	Hold	PER24x FY19
02/13/18	Goldman Sachs	SGX	7.31	6.6	Sell
02/14/18	phillip	SGX	7.3	8.89	Buy	DCF
02/19/18	Jefferies	SGX	7.37	8	Buy
02/20/18	DBS Vickers	SGX	7.71	8.9	Buy	DDM, PER21x FY19
03/08/18	Kim Eng	SGX	7.44	8.73	Buy	PER23x FY19
03/13/18	Amfrasers	SGX	7.58	8.14	Buy
04/23/18	phillip	SGX	7.56	9.2	Buy	DCF
04/23/18	CIMB	SGX	7.56	8.2	Add	PER24x FY19
04/23/18	Lim & Tan	SGX	7.56	0	Buy
04/23/18	OCBC	SGX	7.56	8.22	Buy
04/23/18	DMG & Partners	SGX	7.56	9	Buy	PER24x FY19
05/23/18	Lim & Tan	SGX	7.48	0	Buy on weakness
06/01/18	OCBC	SGX	7.24	7.89	Buy	PER23x
06/22/18	DMG & Partners	SGX	7.25	9	Buy	PER24x FY19
07/03/18	UOB Kay Hian	SGX	7.14	8.14	Not Rated
07/18/18	Macquarie	SGX	7.45	7.7	Neutral
07/25/18	DMG & Partners	SGX	7.5	9	Buy	PER24x FY19

Stock calls for 25 July 2018

Date	Analyst	Company	Last	Target	Call	Valuation
07/25/18	OCBC	ART	1.13	1	Sell
07/25/18	UOB Kay Hian	ART	1.13	1.18	Hold	DDM
07/25/18	CIMB	ART	1.13	1.16	Hold	DDM
07/25/18	DBS Vickers	ART	1.13	1.25	Buy	DCF
07/25/18	Kim Eng	Frasers Centrepoint Trust	2.27	2.55	Buy	DDM
07/25/18	UOB Kay Hian	Frasers Centrepoint Trust	2.27	2.32	Buy	DDM
07/25/18	OCBC	Frasers Centrepoint Trust	2.27	2.49	Buy
07/25/18	CIMB	Frasers Centrepoint Trust	2.27	2.41	Add	DDM
07/25/18	Lim & Tan	Frasers Centrepoint Trust	2.27	0	Hold
07/25/18	DBS Vickers	Hutchison Port	0.27	0.28	Hold	DCF
07/25/18	OCBC	Mapletree Industrial	2.02	2.06	Hold
07/25/18	Phillip	Mapletree Industrial	2.02	2.09	Neutral	DDM, PB1.42x FY19
07/25/18	CIMB	Mapletree Logistics	1.29	1.39	Add	DDM
07/25/18	UOB Kay Hian	Mapletree Logistics	1.29	1.36	Hold
07/25/18	DBS Vickers	Mapletree Logistics	1.29	1.53	Buy
07/25/18	DMG & Partners	SGX	7.5	9	Buy	PER24x FY19
07/25/18	OCBC	Suntec Reit	1.89	1.84	Hold
07/25/18	DBS Vickers	Thai Beverage	0.74	0.94	Buy	Sum of parts

Danger is lurking for Hong Kong stock market! - Part 2

Hang Seng Index (HSI)

The HKD is still under tremendous stress as it can be seen from the statistics above which show that the HKD is still near the HKMA intervention rate of HKD$7.85.  This stress is prompting the HKMA to raise the interest rate to reduce the Hibor-Libor spread.  We can also detect the stress in the HSI because it has been trending down from more than 32,000 to around 29,000 as the fear of collateral damages from the higher interest rate sets in.

https://sg-stock.blogspot.com/2018/03/danger-is-lurking-for-hong-kong-stock.html

The Lee family has gay genes!

Lee Huan Wu is the second son of Lee Hsien Yang and he is a gay.

From my reliable sources, I know that he is not the only one in the Lee family.

Serial System - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/23/17	NRA	Serial System	0.178	0.24	Overweight	PER11.3x FY17
05/22/18	NRA	Serial System	0.1666	0.24	Overweight	DCF