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Thursday, October 25, 2018

Keppel DC Reit - Stock calls


Date Analyst Company Last Target Call Valuation
01/09/17 CIMB Keppel DC Reit 1.23 1.18 Hold DDM
01/09/17 DBS Vickers Keppel DC Reit 1.23 1.33 Buy DCF
01/09/17 Deutsche Keppel DC Reit 1.23 1.2 Hold
01/24/17 CIMB Keppel DC Reit 1.215 1.21 Hold DDM
01/24/17 Lim & Tan Keppel DC Reit 1.215 0 Hold
01/24/17 OCBC Keppel DC Reit 1.215 1.39 Buy
01/25/17 Credit Suisse Keppel DC Reit 1.205 1.31 Outperform
01/25/17 DBS Vickers Keppel DC Reit 1.205 1.3 Buy DCF
01/25/17 Phillip Keppel DC Reit 1.205 1.15 Hold DDM, PB1.21x FY17
02/17/17 JP Morgan Keppel DC Reit 1.165 1.25 Overweight
02/20/17 Phillip Keppel DC Reit 1.175 1.15 Neutral
02/28/17 Deutsche Keppel DC Reit 1.165 1.2 Hold
03/01/17 CIMB Keppel DC Reit 1.18 1.21 Add DDM
03/06/17 OCBC Keppel DC Reit 1.165 1.39 Buy
03/17/17 DBS Vickers Keppel DC Reit 1.195 1.3 Buy
04/03/17 OCBC Keppel DC Reit 1.2 1.39 Buy
04/07/17 Lim & Tan Keppel DC Reit 1.215 0 Buy
04/18/17 CIMB Keppel DC Reit 1.225 1.26 Add DDM
04/18/17 Credit Suisse Keppel DC Reit 1.225 1.31 Outperform
04/18/17 Lim & Tan Keppel DC Reit 1.225 0 Hold
04/18/17 Phillip Keppel DC Reit 1.225 1.15 Neutral DDM
05/08/17 Phillip Keppel DC Reit 1.24 1.15 Neutral
05/18/17 DBS Vickers Keppel DC Reit 1.23 1.3 Buy
05/29/17 OCBC Keppel DC Reit 1.28 1.39 Buy
06/22/17 Deutsche Keppel DC Reit 1.26 1.2 Hold
07/18/17 Phillip Keppel DC Reit 1.32 1.28 Hold DDM, PB1.35x FY17
07/18/17 Credit Suisse Keppel DC Reit 1.32 1.47 Outperform
07/18/17 OCBC Keppel DC Reit 1.32 1.39 Buy DDM
07/18/17 CIMB Keppel DC Reit 1.32 1.28 Hold DDM
07/19/17 DBS Vickers Keppel DC Reit 1.33 1.4 Buy
08/18/17 Phillip Keppel DC Reit 1.275 1.28 Neutral DDM, PB1.35x FY17
08/22/17 OCBC Keppel DC Reit 1.285 1.39 Buy
09/04/17 CIMB Keppel DC Reit 1.285 1.28 Hold
09/13/17 DBS Vickers Keppel DC Reit 1.295 1.44 Buy
09/14/17 Phillip Keppel DC Reit 1.29 1.31 Neutral DDM, PB1.37x FY17
09/14/17 Lim & Tan Keppel DC Reit 1.29 0 Hold
09/26/17 CIMB Keppel DC Reit 1.305 1.36 Add
10/17/17 Phillip Keppel DC Reit 1.35 1.36 Neutral DDM, PB1.42x FY17
10/17/17 OCBC Keppel DC Reit 1.35 1.39 Buy
10/17/17 Lim & Tan Keppel DC Reit 1.35 0 Hold
10/17/17 CIMB Keppel DC Reit 1.35 1.37 Hold
10/19/17 DBS Vickers Keppel DC Reit 1.345 1.44 Buy DCF
11/20/17 OCBC Keppel DC Reit 1.4 1.5 Buy PB1.47x FY18
01/23/18 OCBC Keppel DC Reit 1.47 1.51 Hold
01/23/18 Lim & Tan Keppel DC Reit 1.47 0 Hold
01/23/18 CIMB Keppel DC Reit 1.47 1.44 Hold
01/23/18 DBS Vickers Keppel DC Reit 1.47 1.6 Buy DCF
01/24/18 Phillip Keppel DC Reit 1.46 1.47 Neutral DDM
02/12/18 Phillip Keppel DC Reit 1.34 1.47 Neutral DDM
03/19/18 DBS Vickers Keppel DC Reit 1.4 1.6 Buy
04/03/18 CIMB Keppel DC Reit 1.43 1.52 Add DDM
04/17/18 Phillip Keppel DC Reit 1.46 1.47 Neutral DDM
04/17/18 CIMB Keppel DC Reit 1.46 1.47 Add DDM
04/17/18 OCBC Keppel DC Reit 1.46 1.5 Hold
04/17/18 DBS Vickers Keppel DC Reit 1.46 1.6 Buy
04/17/18 Credit Suisse Keppel DC Reit 1.46 1.56 Outperform
05/08/18 Phillip Keppel DC Reit 1.43 1.51 Accumulate DDM
05/08/18 Deutsche Keppel DC Reit 1.43 1.3 Hold
05/08/18 Credit Suisse Keppel DC Reit 1.43 1.56 Outperform
05/08/18 CIMB Keppel DC Reit 1.43 1.49 Add DDM
05/08/18 OCBC Keppel DC Reit 1.43 1.54 Buy
05/21/18 Phillip Keppel DC Reit 1.36 1.51 Accumulate
06/26/18 DBS Vickers Keppel DC Reit 1.35 1.52 Buy DCF
07/18/18 Phillip Keppel DC Reit 1.35 1.45 Accumulate DDM
07/18/18 OCBC Keppel DC Reit 1.35 1.54 Buy
07/18/18 CIMB Keppel DC Reit 1.35 1.49 Add DDM
07/18/18 DBS Vickers Keppel DC Reit 1.35 1.52 Buy
08/08/18 DBS Vickers Keppel DC Reit 1.39 1.52 Buy
09/04/18 OCBC Keppel DC Reit 1.36 1.54 Buy
09/25/18 Deutsche Keppel DC Reit 1.36 1.55 Buy
10/17/18 Phillip Keppel DC Reit 1.34 1.45 Accumulate DDM
10/17/18 DBS Vickers Keppel DC Reit 1.34 1.52 Buy
10/17/18 OCBC Keppel DC Reit 1.34 1.48 Buy DDM
10/17/18 CIMB Keppel DC Reit 1.34 1.51 Add DDM

Keppel Corp - Stock calls


Date Analyst Company Last Target Call Valuation
12/06/17 DBS Vickers Keong Hong 0.595 0.75 Not Rated PER5.5x FY18
01/03/17 DMG & Partners Keppel Corp 5.79 6.52 Buy Sum of parts
01/05/17 Deutsche Keppel Corp 5.82 5.9 Hold Sum of parts (15% discount)
01/16/17 DIR Keppel Corp 6.12 5.72 Hold
01/25/17 Credit Suisse Keppel Corp 6.36 5 Underperform
01/27/17 CIMB Keppel Corp 6.38 5.21 Reduce RNAV
01/27/17 DIR Keppel Corp 6.38 5.93 Hold Sum of parts (10% discount)
01/27/17 DMG & Partners Keppel Corp 6.38 7.39 Buy Sum of parts, PER10x FY17
01/27/17 Lim & Tan Keppel Corp 6.38 0 Sell Bloomberg consensus $5.79
01/27/17 OCBC Keppel Corp 6.38 6.26 Hold
01/27/17 UOB Kay Hian Keppel Corp 6.38 6.45 Hold Sum of parts, Buy @ $5.90
01/31/17 Amfrasers Keppel Corp 6.27 6.5 Hold Sum of parts
01/31/17 DBS Vickers Keppel Corp 6.27 6 Hold Sum of parts
02/17/17 CLSA Keppel Corp 6.53 7.6 Buy
02/22/17 OCBC Keppel Corp 6.57 7.4 Buy
03/01/17 Credit Suisse Keppel Corp 6.81 8.7 Outperform Sum of parts
03/14/17 DIR Keppel Corp 6.75 6.44 Hold Sum of parts
03/14/17 Deutsche Keppel Corp 6.75 6.4 Hold
03/20/17 DBS Vickers Keppel Corp 6.87 6 Hold Sum of parts, PB0.9x FY17
03/20/17 UOB Kay Hian Keppel Corp 6.87 6.45 Hold Sum of parts, Buy @ $6.10
03/21/17 CIMB Keppel Corp 6.85 7.24 Hold Sum of parts
03/22/17 DMG & Partners Keppel Corp 6.83 7.77 Buy Sum of parts, PER10.6x FY17
03/22/17 OCBC Keppel Corp 6.83 7.4 Buy
03/22/17 UOB Kay Hian Keppel Corp 6.83 6.98 Hold Sum of parts, Buy @ $6.25
04/07/17 Credit Suisse Keppel Corp 6.84 8.7 Outperform
04/11/17 Lim & Tan Keppel Corp 6.96 0 Hold
04/21/17 CIMB Keppel Corp 6.55 7.24 Hold Sum of parts
04/21/17 DIR Keppel Corp 6.55 6.44 Hold Sum of parts (10% discount)
04/21/17 OCBC Keppel Corp 6.55 7.36 Buy PB1.1x
04/21/17 UOB Kay Hian Keppel Corp 6.55 6.55 Hold Sum of parts, Buy @ $5.90
04/24/17 DBS Vickers Keppel Corp 6.56 6 Hold Sum of parts, PB0.9x FY17
04/24/17 DMG & Partners Keppel Corp 6.56 7.56 Buy Sum of parts
04/25/17 Amfrasers Keppel Corp 6.51 7.02 Buy Sum of parts
04/28/17 Macquarie Keppel Corp 6.57 5.8 Neutral
05/24/17 UOB Kay Hian Keppel Corp 6.55 6.55 Hold
05/30/17 DMG & Partners Keppel Corp 6.48 7.55 Buy Sum of parts
06/02/17 OCBC Keppel Corp 6.46 7.36 Buy Sum of parts (10% discount)
06/20/17 UOB Kay Hian Keppel Corp 6.31 6.55 Hold
06/30/17 DMG & Partners Keppel Corp 6.36 7.34 Buy Sum of parts
07/04/17 Credit Suisse Keppel Corp 6.32 8.7 Outperform
07/05/17 DIR Keppel Corp 6.34 6.44 Hold Sum of parts
07/05/17 OCBC Keppel Corp 6.34 7.36 Buy
07/07/17 UOB Kay Hian Keppel Corp 6.4 6.55 Hold Sum of parts, Buy @ $5.90
07/21/17 UOB Kay Hian Keppel Corp 6.53 6.86 Hold Sum of parts, Buy @ $6.20
07/21/17 CIMB Keppel Corp 6.53 7.24 Hold Sum of parts
07/21/17 DIR Keppel Corp 6.53 6.39 Hold Sum of parts
07/21/17 DBS Vickers Keppel Corp 6.53 7.6 Buy Sum of parts, PB1.1x FY17
07/21/17 Lim & Tan Keppel Corp 6.53 0 Hold
07/24/17 Macquarie Keppel Corp 6.58 5.8 Neutral
07/24/17 Amfrasers Keppel Corp 6.58 7.61 Buy Sum of parts
08/01/17 Credit Suisse Keppel Corp 6.41 8.7 Outperform PER12.1x FY17, PB0.9x
08/18/17 Lim & Tan Keppel Corp 6.33 0 Hold
08/18/17 DBS Vickers Keppel Corp 6.33 7.6 Buy Sum of parts
08/25/17 CIMB Keppel Corp 6.36 7.24 Hold Sum of parts
08/25/17 Morgan Stanley Keppel Corp 6.36 6.18 Equal Weight Sum of parts
08/29/17 DMG & Partners Keppel Corp 6.39 7.34 Buy Sum of parts
09/13/17 OCBC Keppel Corp 6.27 7.36 Buy
09/15/17 UOB Kay Hian Keppel Corp 6.29 6.86 Hold
09/20/17 DBS Vickers Keppel Corp 6.38 7.6 Buy Sum of parts
09/20/17 Deutsche Keppel Corp 6.38 7.5 Buy
09/27/17 Credit Suisse Keppel Corp 6.46 8.7 Outperform
10/02/17 UOB Kay Hian Keppel Corp 6.49 6.71 Hold
10/05/17 Lim & Tan Keppel Corp 6.52 0 Buy
10/06/17 OCBC Keppel Corp 6.59 7.36 Buy
10/09/17 DBS Vickers Keppel Corp 6.68 7.6 Buy
10/11/17 Credit Suisse Keppel Corp 6.77 8.7 Outperform Sum of parts
10/13/17 CIMB Keppel Corp 6.79 8.58 Add Sum of parts
10/20/17 OCBC Keppel Corp 7.02 7.73 Buy
10/20/17 Amfrasers Keppel Corp 7.02 7.61 Buy Sum of parts
10/20/17 UOB Kay Hian Keppel Corp 7.02 8.35 Buy Sum of parts
10/20/17 Lim & Tan Keppel Corp 7.02 0 Buy
10/23/17 DMG & Partners Keppel Corp 7.3 7.92 Buy Sum of parts
10/27/17 OCBC Keppel Corp 7.4 8.31 Buy Sum of parts
11/03/17 Morgan Stanley Keppel Corp 7.66 6.18 Equal Weight Sum of parts
11/09/17 UOB Kay Hian Keppel Corp 7.57 8.35 Buy
11/09/17 Deutsche Keppel Corp 7.57 8.6 Buy
11/17/17 CIMB Keppel Corp 7.28 8.58 Add
11/24/17 Lim & Tan Keppel Corp 7.59 0 Buy
11/29/17 OCBC Keppel Corp 7.74 8.41 Buy
12/04/17 Lim & Tan Keppel Corp 7.76 0 Buy
12/08/17 UOB Kay Hian Keppel Corp 7.49 8.98 Buy Sum of parts
12/18/17 Amfrasers Keppel Corp 7.53 8.67 Buy Sum of parts
12/20/17 CIMB Keppel Corp 7.5 8.58 Add Sum of parts
12/26/17 Amfrasers Keppel Corp 7.47 8.04 Buy Sum of parts
12/26/17 OCBC Keppel Corp 7.47 8.12 Buy Sum of parts (10% discount)
12/26/17 Lim & Tan Keppel Corp 7.47 0 Hold
12/27/17 Deutsche Keppel Corp 7.29 8.1 Buy Sum of parts (20% discount)
01/02/18 UOB Kay Hian Keppel Corp 7.35 8.75 Buy Sum of parts
01/02/18 CIMB Keppel Corp 7.35 8.58 Add Sum of parts
01/09/18 DBS Vickers Keppel Corp 7.77 9.8 Buy Sum of parts, PB1.3x FY18
01/10/18 Amfrasers Keppel Corp 7.85 8.04 Buy
01/10/18 Deutsche Keppel Corp 7.85 8.5 Buy
01/22/18 OCBC Keppel Corp 8.25 9.32 Buy
01/23/18 DBS Vickers Keppel Corp 8.29 10.3 Buy Sum of parts, PB1.3x FY18
01/26/18 OCBC Keppel Corp 8.58 9.45 Buy
01/26/18 UOB Kay Hian Keppel Corp 8.58 9.3 Buy Sum of parts
01/26/18 DBS Vickers Keppel Corp 8.58 10.2 Buy
01/26/18 Lim & Tan Keppel Corp 8.58 0 Buy on weakness
01/26/18 CIMB Keppel Corp 8.58 10 Add Sum of parts
02/02/18 Deutsche Keppel Corp 8.7 8.4 Hold
02/07/18 CIMB Keppel Corp 8.19 10 Add
02/13/18 UOB Kay Hian Keppel Corp 7.8 9.3 Buy
02/13/18 DBS Vickers Keppel Corp 7.8 10.2 Buy
03/02/18 UOB Kay Hian Keppel Corp 8.01 9.3 Buy
03/05/18 Credit Suisse Keppel Corp 7.87 10 Outperform
03/05/18 CIMB Keppel Corp 7.87 10 Add Sum of parts
03/05/18 OCBC Keppel Corp 7.87 9.45 Buy
03/06/18 DBS Vickers Keppel Corp 7.63 10.2 Buy Sum of parts
03/12/18 Lim & Tan Keppel Corp 7.73 0 Buy
03/12/18 Amfrasers Keppel Corp 7.73 8.04 Buy
03/21/18 UOB Kay Hian Keppel Corp 7.77 9.1 Buy Sum of parts
03/26/18 Morgan Stanley Keppel Corp 7.72 9.45 Overweight Sum of parts, Up from $9.01
04/03/18 CIMB Keppel Corp 7.8 10 Add Sum of parts
04/03/18 UOB Kay Hian Keppel Corp 7.8 9.1 Buy
04/03/18 DBS Vickers Keppel Corp 7.8 10.2 Buy
04/11/18 OCBC Keppel Corp 7.81 9.45 Buy Sum of parts
04/20/18 UOB Kay Hian Keppel Corp 8.07 9 Buy Sum of parts
04/20/18 Lim & Tan Keppel Corp 8.07 0 Hold
04/23/18 Amfrasers Keppel Corp 8.21 9.43 Buy Sum of parts
05/03/18 UOB Kay Hian Keppel Corp 8.15 9 Buy Sum of parts
05/03/18 OCBC Keppel Corp 8.15 9.4 Buy
05/08/18 Credit Suisse Keppel Corp 8.13 10 Outperform
05/22/18 CIMB Keppel Corp 8.19 10 Add Sum of parts
06/04/18 UOB Kay Hian Keppel Corp 7.65 9 Buy
06/05/18 DBS Vickers Keppel Corp 7.75 10.2 Buy
07/03/18 UOB Kay Hian Keppel Corp 7.01 9 Buy Sum of parts
07/03/18 DBS Vickers Keppel Corp 7.01 10.2 Buy
07/09/18 DBS Vickers Keppel Corp 6.58 9.1 Buy Sum of parts
07/11/18 CIMB Keppel Corp 6.77 8.81 Add Sum of parts
07/20/18 DBS Vickers Keppel Corp 6.96 9 Buy Sum of parts, PB1.3x FY18
07/20/18 OCBC Keppel Corp 6.96 8.7 Buy
07/23/18 CIMB Keppel Corp 7.09 8.82 Add Sum of parts
07/23/18 Lim & Tan Keppel Corp 7.09 0 Hold
07/23/18 Deutsche Keppel Corp 7.09 8.4 Hold RNAV (35% discount)
08/24/18 UOB Kay Hian Keppel Corp 6.81 7.37 Hold Sum of parts, Buy @ $6.6
09/06/18 DBS Vickers Keppel Corp 6.44 9 Buy
09/10/18 OCBC Keppel Corp 6.36 8.38 Buy Sum of parts
09/21/18 UOB Kay Hian Keppel Corp 6.8 7.37 Hold Buy @ $6.60
09/25/18 CIMB Keppel Corp 7 8.82 Add Sum of parts
09/25/18 Deutsche Keppel Corp 7 8.4 Hold
09/27/18 Amfrasers Keppel Corp 7.16 9.43 Buy Sum of parts
09/28/18 Lim & Tan Keppel Corp 7.16 0 Neutral
10/02/18 Amfrasers Keppel Corp 7.04 9.43 Buy Sum of parts
10/03/18 Macquarie Keppel Corp 7.04 8.4 Outperform Sum of parts
10/08/18 CIMB Keppel Corp 7.1 8.82 Add
10/19/18 UOB Kay Hian Keppel Corp 6.76 6.79 Hold Sum of parts, Buy @ $6.10
10/19/18 OCBC Keppel Corp 6.76 7.97 Buy
10/19/18 CIMB Keppel Corp 6.76 8.28 Add Sum of parts
10/22/18 Lim & Tan Keppel Corp 6.64 0 Hold

Stock calls for 25 October 2018


Date Analyst Company Last Target Call Valuation
10/25/18 UOB Kay Hian A-Reit 2.56 3.01 Buy
10/25/18 UOB Kay Hian ART 1.07 1.18 Hold
10/25/18 DBS Vickers Ascendas India Trust 1.06 1.25 Buy
10/25/18 UOB Kay Hian CapitaCommercial 1.73 1.99 Buy
10/25/18 UOB Kay Hian Capitamall Trust 2.14 2.02 Hold
10/25/18 OCBC Frasers Centrepoint Trust 2.23 2.5 Buy
10/25/18 UOB Kay Hian Frasers Centrepoint Trust 2.23 2.32 Buy DDM
10/25/18 DBS Vickers Frasers Centrepoint Trust 2.23 2.35 Buy
10/25/18 CIMB Frasers Centrepoint Trust 2.23 2.4 Add DDM
10/25/18 Lim & Tan Frasers Centrepoint Trust 2.23 0 Hold
10/25/18 UOB Kay Hian Frasers Hospitality Trust 0.7 0.82 Buy
10/25/18 UOB Kay Hian Frasers Logistics 1.03 1.16 Buy
10/25/18 UOB Kay Hian Genting 0.91 1.38 Buy EV/Ebitda10.5x FY18
10/25/18 DBS Vickers Japfa 0.63 0.86 Buy Sum of parts (10% discount), PER12.2x FY19
10/25/18 UOB Kay Hian M1 2.1 2.06 Accept Offer Offer $2.06, PER13.2x, EV/Ebidta7.2x FY18
10/25/18 OCBC M1 2.1 2.06 Hold Offer $2.06
10/25/18 UOB Kay Hian Manulife US Reit 0.775 1.06 Buy
10/25/18 Phillip Mapletree Industrial 1.95 1.99 Neutral DDM, PB1.34x FY19
10/25/18 UOB Kay Hian Mapletree Industrial 1.95 1.94 Hold DDM
10/25/18 CIMB Mapletree Industrial 1.95 2.08 Add DDM
10/25/18 UOB Kay Hian Parkway Life 2.67 3.15 Buy
10/25/18 CIMB Suntec Reit 1.81 2.06 Add DDM
10/25/18 UOB Kay Hian Suntec Reit 1.81 2.01 Hold
10/25/18 DBS Vickers Suntec Reit 1.81 2.3 Buy
10/25/18 OCBC Suntec Reit 1.81 1.83 Hold

Something is wrong with the US economy.

https://www.zacks.com/stock/news/328942/verizon-aims-to-lower-costs-through-employee-retrenchment

If the US economy is doing as well as the statistics are showing, Verizon won't be retrenching so many employees (44,000).

When a US telecom company needs to retrench 44,000 employees, it is showing that the US economic growth won't be good in the future because the US telecom company cannot earn enough to support the massive employees.

The USA is good at spinning stories.

https://finance.yahoo.com/news/chinese-spies-reportedly-listening-trump-230100646.html

The USA tapped on other leaders but it insisted that China tapped on its president.

https://www.theguardian.com/us-news/2015/jul/08/nsa-tapped-german-chancellery-decades-wikileaks-claims-merkel

What a joke!

Wednesday, October 24, 2018

The global semiconductor slowdown is permanent because of the USA's anti-china policies.

https://sg.finance.yahoo.com/news/stmicro-upholds-bullish-2018-growth-target-strong-automotive-064828277--finance.html

This global semiconductor slowdown is permanent as China switches to home-made chips.  This switch is caused by US refusal to sell chips to ZTE.

This slowdown for foreign semiconductor manufacturer will be permanent as China ramps up its home-made chips for its own devices.  Thereafter, China will export China chips to the world at cheaper prices.

A good example will be Huawei Kirin chips.  Huawei has learnt from the ZTE lesson and ramped up its own development of Kirin chips.  The Kirin 980 is the latest AI chips and will be production ready soon.  Huawei will start to export its Kirin chips after it can satisfy its own demands.

Other China titans like Xiaomi, Oppo, Lenovo, etc will also try to develop or ramp up their own chips so that they won't encounter the ZTE situation ever again.  In short, the US has propelled China to develop its own semiconductor industry.

Jumbo - Stock calls


Date Analyst Company Last Target Call Valuation
02/14/17 UOB Kay Hian Jumbo 0.725 0.65 Hold DCF
02/15/17 DBS Vickers Jumbo 0.715 0.72 Hold PER23x FY17
02/15/17 Kim Eng Jumbo 0.715 0.75 Hold DCF
03/27/17 Lim & Tan Jumbo 0.705 0 Hold
03/28/17 UOB Kay Hian Jumbo 0.695 0.67 Hold DCF, Buy @ $0.61
05/16/17 DBS Vickers Jumbo 0.655 0.72 Hold PER23x FY17/18
05/16/17 Kim Eng Jumbo 0.655 0.66 Hold DCF
05/16/17 UOB Kay Hian Jumbo 0.655 0.64 Hold DCF, Buy @ $0.58
08/10/17 DBS Vickers Jumbo 0.59 0.67 Hold PER23x FY18
08/11/17 UOB Kay Hian Jumbo 0.56 0.6 Hold DCF, Buy @ $0.54
11/27/17 DBS Vickers Jumbo 0.58 0.61 Hold PER23x FY18
11/27/17 Lim & Tan Jumbo 0.58 0 Neutral
11/28/17 UOB Kay Hian Jumbo 0.565 0.6 Hold DCF, Buy @ $0.54
12/13/17 DBS Vickers Jumbo 0.585 0.7 Buy DCF
12/13/17 Kim Eng Jumbo 0.585 0.7 Buy DCF
01/04/18 Kim Eng Jumbo 0.59 0.7 Buy DCF, PER26x FY18
02/15/18 Kim Eng Jumbo 0.57 0.7 Buy DCF, PER26x FY18
02/15/18 DBS Vickers Jumbo 0.57 0.58 Hold PER23x FY18
02/19/18 UOB Kay Hian Jumbo 0.575 0.59 Hold DCF, Buy @ $0.53
03/12/18 Kim Eng Jumbo 0.55 0.7 Buy DCF
05/15/18 DBS Vickers Jumbo 0.56 0.58 Hold PER23x FY18/19
05/16/18 UOB Kay Hian Jumbo 0.54 0.53 Hold DCF, Buy @ $0.48
06/25/18 CIMB Jumbo 0.5 0.62 Add PER23x CY19
06/27/18 UOB Kay Hian Jumbo 0.52 0.53 Hold DCF, Buy @ $0.48
08/14/18 UOB Kay Hian Jumbo 0.53 0.49 Hold DCF, Buy @ $0.44
08/14/18 DBS Vickers Jumbo 0.53 0.57 Hold PER23x FY19
08/15/18 CIMB Jumbo 0.515 0.62 Add PER23x CY19
10/05/18 CIMB Jumbo 0.46 0.58 Add PER21x FY20

Jubilee - Stock calls


Date Analyst Company Last Target Call Valuation
10/04/17 NRA Jubilee 0.043 0.07 Overweight
10/13/17 NRA Jubilee 0.048 0.067 Overweight
03/12/18 CIMB Jubilee 0.037 0.051 Add Sum of parts
06/01/18 CIMB Jubilee 0.039 0.051 Add Sum of parts

Jiutian - Stock calls


Date Analyst Company Last Target Call Valuation
04/04/18 Amfrasers Jiutian 0.064 0.11 Not Rated PER10x FY18

Stock calls for 24 October 2018


Date Analyst Company Last Target Call Valuation
10/24/18 OCBC Hutchison Port 0.245 0.36 Buy
10/24/18 OCBC Mapletree Industrial 1.95 2.01 Buy DDM
10/24/18 Lim & Tan Mapletree Industrial 1.95 0 Hold
10/24/18 CIMB Mapletree Logistics 1.23 1.39 Add DDM
10/24/18 Kim Eng Mapletree Logistics 1.23 1.3 Hold DDM
10/24/18 UOB Kay Hian Mapletree Logistics 1.23 1.36 Hold DDM, Buy @ $1.15
10/24/18 Macquarie SGX 7.05 7.7 Neutral
10/24/18 DBS Vickers Singtel 3.13 3.64 Buy Sum of parts
10/24/18 OCBC Suntec Reit 1.81 1.84 Hold

Xi and Trump may not meet in G20.

https://www.scmp.com/news/china/military/article/2169728/two-us-navy-ships-sail-through-taiwan-strait-move-likely-anger

There is a high chance that Xi will reject to meet Trump in the G20 next month if Trump continues to antagonize China.

Stocks will fall again in November when the 2 leaders don't meet in G20 because the trade war will escalate further.

Tuesday, October 23, 2018

Temasek retail bonds oversubscribed by 8x.

https://www.channelnewsasia.com/news/singapore/temasek-retail-bonds-oversubscribed-interest-rate-guaranteed-10856234

Did Temasek's retail bond subscription perform well?

Well, the subscription rate of 8x is considered to be just alright but not spectacular.

Why? This is because a government conglomerate like Temasek should do better as it has a better background and AAA credit rating.

Xiaomi IPO was oversubscribed by 9.5x which did better than Temasek's despite having a lower credit rating.

https://www.ft.com/content/c28dc7f6-80b3-11e8-bc55-50daf11b720d

Jardine Strategic - Stock calls


Date Analyst Company Last Target Call Valuation
07/03/18 UOB Kay Hian Jardine Strategic 36.65 42.67 Not Rated

Jardine Matheson - Stock calls


Date Analyst Company Last Target Call Valuation
07/03/18 UOB Kay Hian Jardine Matheson 63.2 65.72 Not Rated

Jardine C&C - Stock calls


Date Analyst Company Last Target Call Valuation
07/03/18 UOB Kay Hian Jardine C&C 30.77 44.13 Not Rated

Stock calls for 23 October 2018


Date Analyst Company Last Target Call Valuation
10/23/18 DMG & Partners Best World 1.49 1.97 Buy PER13x FY19
10/23/18 CIMB Dairy Farm 8.95 9.55 Hold
10/23/18 Lim & Tan Mapletree Logistics 1.23 0 Hold
10/23/18 CIMB Sheng Siong 1.05 1.26 Add

The US disgraced Taiwan and Taiwan welcomed it.

https://www.channelnewsasia.com/news/world/us-warships-sail-through-taiwan-strait-10854036

I didn't know that the Taiwan Strait in Taiwan's territory was an international sea area whereby vessels were free to navigate without permission.

The US vessels sailed through the Taiwan Strait in Taiwan's territory while China naval vessels followed the US in China's territory.  What the US did was telling the world that Taiwan's territory was an international water in which any vessel could perform freedom of navigation without permission.

I couldn't believe that Taiwan would welcome the US's FON in its territory.  What a joke!

OMG! Temasek invests in a high risk business again!

https://sg.finance.yahoo.com/news/temasek-backed-vertex-invests-cryptocurrency-041123231.html

Cryptocurrency is a high-risk investment and it is still evolving.  Therefore, it is unwise for Temasek to invest in a high-risk business using our government coffer.

Any serious financial institution won't use a public blockchain because confidential information shouldn't be accessed by other public nodes.  This is the reason the world bank issued its bond based on its own private blockchain as this couldn't connect with any public blockchain.  What does this mean? This means there won't be a massive adoption of the public blockchain by serious financial institutions.

Sigh! Temasek is going to lose our money again!

Microplastics found in a human for the first time!

https://sg.news.yahoo.com/microplastic-found-humans-first-time-220000093.html

This is really bad.  We're killing ourselves by ingesting plastics in our food chains.

We've reported about microplastics last year.

http://sg-stock.blogspot.com/2017/12/seafood-health-alerts-in-norway-chile.html

USD has a supply shortage now.


How did we know about the USD supply shortage?

Well, we just need to look at the USD Libor.  USD Libor is at an all time 5-year high now according to the chart above.

USD Libor is the bank rate that the banks in London set for lending USD among themselves and this rate has been trending much higher in 2018 which denotes that there is a supply shortage.  Therefore, this means that USD will continue to appreciate due to the higher rates and supply shortage because of QE tapering.

US housing downturn is brewing again!


The US 30-year mortgage rate is fast approaching 5% and it won't stop rising.

The US home sales have been trending down because of rising interest rates in 2018.

This property downturn doesn't bode well for the USA because it will affect the main street and the wall street.  Property stocks and mortgage-backed securities (MBS) will be badly affected and we'll have a US financial crisis again.

Fake Singapore dollar alert!


There are fake Singapore dollars appearing in Hougang area.  Please be careful!