Stock calls for 21 November 2018

Date	Analyst	Company	Last	Target	Call	Valuation
11/21/18	Phillip	A-Reit	2.55	2.78	Accumulate
11/21/18	phillip	Cache Logistics	0.665	0.75	Neutral
11/21/18	Phillip	CapitaCommercial	1.7	1.9	Accumulate
11/21/18	Phillip	Capitamall Trust	2.2	2.09	Neutral
11/21/18	Phillip	CapitaRetail China	1.35	1.66	Accumulate
11/21/18	DMG & Partners	China Aviation Oil	1.22	1.32	Neutral
11/21/18	phillip	First Reit	0.975	1.3	Neutral
11/21/18	Phillip	Frasers Centrepoint Trust	2.15	2.21	Neutral
11/21/18	CIMB	Keppel Corp	6.18	8.38	Add	Sum of parts
11/21/18	Phillip	Keppel DC Reit	1.35	1.45	Accumulate
11/21/18	Phillip	Mapletree Industrial	1.84	1.99	Neutral
11/21/18	UOB Kay Hian	Netlink	0.77	0.99	Buy	DCF
11/21/18	OCBC	Yanlord	1.26	2.04	Buy	PEG

Bitcoin is hit with another bad news!

https://sg.finance.yahoo.com/news/bitcoin-payments-distant-dream-usage-dries-124105616--sector.html

The commercial transactions in using bitcoin as payments have dropped by 80% in 2018.

This means that most of the bitcoin transactions are speculative trading, not some real commercial transactions.

We had stated previously that bitcoin was not feasible to be a payment mode.

http://sg-stock.blogspot.com/2018/01/the-truth-about-bitcoin.html

We will be updating our viewers with a detailed write-up on ICO & Crypto soon.

OMG! Noble Group is under CAD investigation now!

https://sg.finance.yahoo.com/news/singapore-probing-noble-group-false-statements-disclosure-breaches-080400483--sector.html

Commercial Affairs Dept (CAD) is investigating Noble Group for false statements, disclosure breaches and non-compliance of accounting standards.  If a fraud is detected by CAD, Noble will be in a serious trouble.

RE&S - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
11/17/17	Phillip	RE & S	0.22	0	Subscribe	IPO

Raffles Medical - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	DMG & Partners	Raffles Medical	1.43	1.76	Buy	DCF
01/03/17	UOB Kay Hian	Raffles Medical	1.43	1.7	Buy	DCF
01/19/17	DIR	Raffles Medical	1.475	1.49	Hold	DCF
02/08/17	UOB Kay Hian	Raffles Medical	1.455	1.7	Buy
02/20/17	CIMB	Raffles Medical	1.48	1.46	Reduce	Sum of parts
02/20/17	OCBC	Raffles Medical	1.48	1.61	Buy
02/21/17	CIMB	Raffles Medical	1.46	1.36	Reduce	Sum of parts, EV/Ebitda23x CY17
02/21/17	Credit Suisse	Raffles Medical	1.46	1.6	Neutral
02/21/17	DBS Vickers	Raffles Medical	1.46	1.4	Hold	PER29x FY17/18
02/21/17	DIR	Raffles Medical	1.46	1.43	Hold	DCF
02/21/17	DMG & Partners	Raffles Medical	1.46	1.72	Buy	DCF
02/21/17	Kim Eng	Raffles Medical	1.46	1.7	Buy	DCF
02/21/17	Lim & Tan	Raffles Medical	1.46	0	Hold
02/21/17	OCBC	Raffles Medical	1.46	1.6	Buy
02/21/17	UOB Kay Hian	Raffles Medical	1.46	1.67	Buy
02/22/17	Phillip	Raffles Medical	1.445	1.6	Accumulate	DCF
03/21/17	UOB Kay Hian	Raffles Medical	1.42	1.66	Buy
03/24/17	Kim Eng	Raffles Medical	1.405	1.7	Buy	DCF
04/03/17	OCBC	Raffles Medical	1.415	1.6	Buy	Sum of parts
04/04/17	CIMB	Raffles Medical	1.43	1.36	Reduce	Sum of parts
04/04/17	Credit Suisse	Raffles Medical	1.43	1.6	Neutral
04/04/17	DIR	Raffles Medical	1.43	1.63	Outperform	DCF
04/04/17	DMG & Partners	Raffles Medical	1.43	1.72	Buy	Sum of parts
04/05/17	DBS Vickers	Raffles Medical	1.445	1.4	Hold	PER29x FY17/18
04/10/17	UOB Kay Hian	Raffles Medical	1.47	1.66	Buy	DCF
04/25/17	CIMB	Raffles Medical	1.415	1.37	Reduce	Sum of parts
04/25/17	DIR	Raffles Medical	1.415	1.56	Outperform	DCF
04/25/17	DMG & Partners	Raffles Medical	1.415	1.49	Neutral	DCF
04/25/17	Kim Eng	Raffles Medical	1.415	1.67	Buy	DCF
04/25/17	Phillip	Raffles Medical	1.415	1.49	Accumulate	DCF
04/25/17	UOB Kay Hian	Raffles Medical	1.415	1.52	Hold	DCF, Buy @ $1.35
06/05/17	Kim Eng	Raffles Medical	1.365	1.54	Buy	DCF
06/08/17	OCBC	Raffles Medical	1.375	1.6	Buy
06/19/17	UOB Kay Hian	Raffles Medical	1.355	1.52	Hold	DCF
06/20/17	CIMB	Raffles Medical	1.36	1.25	Reduce	Sum of parts
08/01/17	Phillip	Raffles Medical	1.285	1.27	Neutral	DCF
08/01/17	DIR	Raffles Medical	1.285	1.46	Outperform	DCF
08/01/17	DMG & Partners	Raffles Medical	1.285	1.1	Sell	DCF
08/01/17	UOB Kay Hian	Raffles Medical	1.285	1.3	Hold	DCF, Buy @ $1.17
08/01/17	Kim Eng	Raffles Medical	1.285	1.12	Sell	DCF
08/01/17	OCBC	Raffles Medical	1.285	1.47	Buy
08/01/17	Credit Suisse	Raffles Medical	1.285	1.45	Neutral
08/01/17	CIMB	Raffles Medical	1.285	1.25	Reduce	Sum of parts
08/01/17	Lim & Tan	Raffles Medical	1.285	0	Sell
08/02/17	DBS Vickers	Raffles Medical	1.11	1.2	Hold	PER25x FY17/18
09/18/17	CIMB	Raffles Medical	1.1	1.21	Add	Sum of parts
09/21/17	UOB Kay Hian	Raffles Medical	1.105	1.28	Buy	DCF
10/11/17	DIR	Raffles Medical	1.17	1.29	Outperform	DCF
10/16/17	UOB Kay Hian	Raffles Medical	1.155	1.28	Buy	DCF
10/31/17	CIMB	Raffles Medical	1.125	1.24	Add	Sum of parts
10/31/17	Phillip	Raffles Medical	1.125	1.32	Accumulate	DCF
10/31/17	UOB Kay Hian	Raffles Medical	1.125	1.34	Buy	DCF
10/31/17	DMG & Partners	Raffles Medical	1.125	1.1	Neutral	DCF
10/31/17	OCBC	Raffles Medical	1.125	1.26	Buy
10/31/17	DBS Vickers	Raffles Medical	1.125	1	Fully Valued	PER26x FY18, PER30x FY19
10/31/17	Lim & Tan	Raffles Medical	1.125	0	Hold
11/29/17	DMG & Partners	Raffles Medical	1.06	1.1	Neutral
01/08/18	CIMB	Raffles Medical	1.12	1.24	Add	Sum of parts
02/13/18	UOB Kay Hian	Raffles Medical	1.08	1.34	Buy
02/27/18	Phillip	Raffles Medical	1.1	1.32	Accumulate	DCF
02/27/18	UOB Kay Hian	Raffles Medical	1.1	1.32	Buy	DCF
02/27/18	OCBC	Raffles Medical	1.1	1.26	Buy	Sum of parts
02/27/18	Kim Eng	Raffles Medical	1.1	1.13	Hold	DCF
02/27/18	DMG & Partners	Raffles Medical	1.1	1.02	Neutral	DCF
02/28/18	DBS Vickers	Raffles Medical	1.16	1	Fully Valued	Sum of parts, PER26x FY18
03/13/18	UOB Kay Hian	Raffles Medical	1.17	1.32	Buy	DCF
05/02/18	Phillip	Raffles Medical	1.15	1.32	Accumulate	DCF
05/02/18	UOB Kay Hian	Raffles Medical	1.15	1.32	Buy	DCF
05/02/18	DMG & Partners	Raffles Medical	1.15	1.02	Sell	DCF
05/02/18	OCBC	Raffles Medical	1.15	1.26	Buy
05/02/18	CIMB	Raffles Medical	1.15	1.24	Hold	Sum of parts
05/02/18	Kim Eng	Raffles Medical	1.15	1.13	Hold
06/29/18	DMG & Partners	Raffles Medical	1.01	1.02	Neutral	DCF
07/24/18	UOB Kay Hian	Raffles Medical	1.1	1.28	Buy	DCF, PER34.8x FY18
08/07/18	UOB Kay Hian	Raffles Medical	1.09	1.28	Buy	DCF, PER34.8x FY18
08/07/18	DMG & Partners	Raffles Medical	1.09	1.02	Neutral
08/07/18	CIMB	Raffles Medical	1.09	1.19	Hold	Sum of parts
08/07/18	OCBC	Raffles Medical	1.09	1.26	Buy
08/08/18	Phillip	Raffles Medical	1.11	1.32	Accumulate	DCF
09/24/18	OCBC	Raffles Medical	1.1	1.26	Buy
10/30/18	OCBC	Raffles Medical	1.09	1.26	Buy	Sum of parts
10/30/18	UOB Kay Hian	Raffles Medical	1.09	1.27	Buy	DCF
10/30/18	DMG & Partners	Raffles Medical	1.09	1.02	Neutral	DCF
10/30/18	CIMB	Raffles Medical	1.09	1.19	Hold	Sum of parts

QAF - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/02/17	OCBC	QAF	1.41	1.46	Hold	Buy @ $1.36 or lower
05/08/17	OCBC	QAF	1.34	1.46	Hold

Stock calls for 20 November 2018

Date	Analyst	Company	Last	Target	Call	Valuation
11/20/18	Lim & Tan	Capitaland	3.14	0	Buy
11/20/18	DMG & Partners	Fu Yu	0.182	0.23	Buy
11/20/18	CIMB	Jubilee	0.034	0.051	Add
11/20/18	CIMB	MM2 Asia	0.345	0.5	Add	Sum of parts
11/20/18	DMG & Partners	Starhill	0.665	0.8	Buy
11/20/18	DMG & Partners	UOB	24.25	30.8	Buy

MAS new payment services bill will hit the ICO and Cryptocurrency industries.

https://sg.news.yahoo.com/mas-finalises-framework-payment-services-singapore-094922413.html

This new payment services bill will definitely douse the flames of the ICO and crypto developments in Singapore because they will be subjected to more costs, rules, and regulations.

Goodbye ICO & Crypto!

Apple has cut production orders by 1/3 officially!

https://sg.finance.yahoo.com/news/apple-cuts-production-orders-three-iphone-models-wsj-094545386--finance.html

No wonder Apple refuses to disclose its unit sales figures anymore. A 1/3 cut is very significant and it will impact its earnings.  There is no way to continue to sell iPhones at higher prices because iPhones do not have an inelastic demand.  Apple will definitely be impacted by the 1/3 cut.

Q & M - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/03/17	CIMB	Q & M	0.71	0.6	Reduce	PER28x
03/06/17	Kim Eng	Q & M	0.705	0.77	Hold	PER36x FY18
03/06/17	phillip	Q & M	0.705	0.65	Reduce	PER38.2x FY17
05/12/17	CIMB	Q & M	0.705	0.6	Reduce	PER28x CY18
05/15/17	phillip	Q & M	0.7	0.65	Reduce	PER38.2x FY17
06/05/17	Kim Eng	Q & M	0.685	0.6	Hold	PER28x FY18
08/21/17	phillip	Q & M	0.63	0.61	Neutral	PER32x
01/08/18	CIMB	Q & M	0.65	0.61	Reduce	PER28x CY19
03/02/18	phillip	Q & M	0.635	0.625	Hold	PER27x FY18
05/16/18	phillip	Q & M	0.605	0.625	Neutral	PER27x FY18
08/16/18	phillip	Q & M	0.51	0.649	Buy	PER28x FY18
11/19/18	phillip	Q & M	0.21	0.513	Neutral	PER25x FY18/19

Propnex - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/12/18	UOB Kay Hian	Propnex	0.535	0.65	Buy	DCF, PER10x FY19
10/22/18	UOB Kay Hian	Propnex	0.535	0.65	Buy	DCF, PER10x FY19
11/15/18	UOB Kay Hian	Propnex	0.56	0.65	Buy	DCF, PER10x FY19

Procurri - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/23/17	DBS Vickers	Procurri	0.405	0.4	Hold
05/15/17	DBS Vickers	Procurri	0.28	0.32	Hold	PER9.3x FY17/18
08/16/17	DBS Vickers	Procurri	0.21	0.18	Fully Valued	RNAV (5% discount)
11/16/17	DBS Vickers	Procurri	0.235	0.18	Fully Valued	RNAV (6% discount)

Stock calls for 19 November 2018

Date	Analyst	Company	Last	Target	Call	Valuation
11/19/18	Phillip	APTV	0.167	0.17	Accumulate	DCF
11/19/18	Phillip	Capitaland	3.13	4	Accumulate	RNAV (20% discount)
11/19/18	DMG & Partners	Food Empire	0.54	0.66	Buy	PER13x FY19
11/19/18	OCBC	KSH	0.525	0.81	Buy
11/19/18	Lim & Tan	KSH	0.525	0	Buy
11/19/18	Kim Eng	MM2 Asia	0.35	0.57	Buy	PEG
11/19/18	Deutsche	OUE	1.41	3	Buy
11/19/18	DMG & Partners	OUE Hospitality	665	0.77	Buy
11/19/18	phillip	Q & M	0.21	0.513	Neutral	PER25x FY18/19
11/19/18	phillip	SHS	0.215	0.24	Accumulate	PER10x FY19

Who is militarising in Asia?

https://www.bbc.com/news/world-asia-46247446

Australia and USA will build a naval base in Papua New Guinea.

As usual, the US would fabricate intelligence report against China by declaring that China would build a naval base in Indo-Pacific.  However, there is no such announcement by China insofar but this has given the US a valid reason to militarise in Asia by building a new naval base in PNG.

Look like having a naval base in SG is still not enough for the USA to contain China.

US, you cannot blame China for setting up naval bases in Asia now because you're doing it first.  This will give China an excuse to militarise in Asia because China has to protect its own interest too.

Russia will never return the Kuril islands because Kuril islands belong to Russia.

https://www.straitstimes.com/world/europe/russia-says-no-automatic-return-of-disputed-islands-to-japan?xtor=CS11-86

Japan breached the peace treaty agreement during WW2 with Russia because Japan promised not to attack the Russian territory but it did.  Therefore, Russia won't return the Kuril Islands that were promised to be given to Japan.

We had already explained this in our previous post.

https://sg-stock.blogspot.com/2016/12/putin-is-making-fool-out-of-abe-but-abe.html

China has retaliated after Australia banned China 5G technology.

https://sg.finance.yahoo.com/news/china-launches-anti-dumping-probe-australian-barley-imports-041002435--business.html

Australia should expect a tit-for-tat action from China after banning China's 5G technology.

Therefore, Australia shouldn't complain or cry foul about it because it started the trouble first.

India intelligence review had recently revived the Thailand Kra Canal issue.

https://www.firstpost.com/world/thailands-move-on-kra-canal-alarms-new-delhi-as-route-will-boost-chinese-naval-power-in-indian-ocean-5507121.html

https://larouchepub.com/pr/2018/181110_india_rpt_kra_canal.html

What's the possibility of the Kra Canal project?

We had analyzed the Kra Canal project previously below.  Therefore, we'll just add on to our previous analysis in this post.

http://sg-stock.blogspot.com/2017/11/thailand-has-just-lost-many-golden.html

The Thai generals are very interested in the Kra Canal project because of the employment and economic benefits that it can bring to Thailand. It is estimated that the Kra Canal project can bring in US$10b per year for Thailand and Thailand can recover the construction cost of US$30b in just 3 years.  As we had stated previously, Thailand had lost the golden opportunity to earn multi-billion of revenues by not having the Kra Canal project.

The times have changed because Thailand needs China to make this Kra Canal Project viable rather than China needs Thailand for its strategic purpose.  Why? This is because China can develop its Arctic sea lane now.

http://sg-stock.blogspot.com/2017/08/ship-can-sail-through-arctic-now.html

http://sg-stock.blogspot.com/2017/04/new-arctic-shipping-route.html

Thailand needs China for the following:
Financing
Engineering
Cargo volume

China can provide the aforesaid assistance to Thailand that no other country can provide.  First of all, China can use the AIIB to provide the financing to Thailand for the project.  Then, China has the engineering capabilities to construct such a project.  As we've seen in recent years, China had built South China Sea islands and the HK-Zhuhai-Macau bridge that marveled other countries.

http://sg-stock.blogspot.com/2018/08/hong-kong-zhuhai-macau-bridge-will-open.html

Lastly, close to 80% of the cargo ships plying the Strait of Malacca are from China.  Therefore, Thailand has to let China take a majority stake in the Kra Canal project if it wants to make the project viable.  Without China, this project has a low success rate because China can bypass the Kra Canal by using the Myanmar port.  Thailand has to learn from Panama's lesson.  Panama also involved China because China had become a major customer.

http://sg-stock.blogspot.com/2018/11/china-and-myanmar-have-signed-port-deal.html

http://www.ejinsight.com/20170615-why-panama-needs-to-befriend-china/

In conclusion, Thailand has to entice China by giving it a majority stake in exchange for the aforesaid assistance to make the project viable because China can divert its resources to develop the Arctic sea lane.  Once Thailand becomes a sea hub, it also will become a financial hub because of the gargantuan international trading activities that come with it.

Needless to say, this Kra Canal project will destroy Singapore sea hub status and affect our financial hub too.

Baltic dry index - 1031

Today, Friday, November 16 2018, the Baltic Dry Index climbed by 11 points, reaching 1031 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 - 1082

The US drilling rig count is up 1 unit to 1,082 rigs working for the week ended Nov. 16, according to Baker Hughes data. The count is up 167 units from the 915 rigs working this time a year ago.

At 1,058 rigs working, an additional unit was drilling on land week-over-week. Offshore units also were up by 1 to reach 22 rigs working, while those drilling in inland waters dropped a single unit to 2 rigs working for the week.

US oil-directed rigs were up 2 units from last week to 888 units working, and up from the 738 rigs drilling for oil this week a year ago. Gas-directed rigs were down a single unit at 194, and up from the 177 units drilling for gas a year ago.

Among the major oil and gas-producing states, Texas and Pennsylvania were the only two states to see a week-over-week increase. The rig count in Texas was up 3 units to reach 535 rigs running, while Pennsylvania saw a single-unit gain to reach 46.

Eight states were unchanged this week: Louisiana, 65; North Dakota, 55; Colorado, 34; Wyoming, 30; California, 15; West Virginia, 13; Alaska, 6; and Utah, 5.

Oklahoma dropped 2 units to 146, and Ohio dropped a single unit to 16.

Canada gained a single rig for the week. With 197 rigs running, the count is less than the 208 units drilling this week a year ago. The additional rig is oil-directed, bringing the count to 118 rigs for the week. Gas-directed rigs in Canada remained unchanged at 79 units.

===========================

Related stocks: Keppel Corp, Sembcorp Marine & Cosco.

Malaysia and Thailand economies are slowing down.

https://www.marketscreener.com/news/Malaysia-s-Economic-Growth-Slows-More-Than-Expected-as-GDP-Expands-4-4-on-Year--27617096/

https://sg.finance.yahoo.com/news/thailand-third-quarter-growth-seen-slowing-tourism-exports-074439765--finance.html

The Malaysia and Thailand economies are having diminishing growth.

Let's take a snapshot of Asian economies.

Japan - Slowdown
Hong Kong - Slowdown
Malaysia - Slowdown
Thailand - Slowdown
China - Slowdown

Europe is also having a slowdown.  Sigh!

Powermatic - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/06/18	CIMB	Powermatic	1.39	2.58	Add	Sum of parts, PER12.8x FY19

Perennial Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/09/17	CIMB	Perennial Reit	0.81	1.08	Add	RNAV (40% discount)
02/09/17	DBS Vickers	Perennial Reit	0.81	1.05	Buy	RNAV (50% discount)
05/09/17	DBS Vickers	Perennial Reit	0.855	1.05	Buy	RNAV (50% discount)
07/14/17	DBS Vickers	Perennial Reit	0.885	1.05	Buy	RNAV (50% discount)
08/01/17	DBS Vickers	Perennial Reit	0.88	1.05	Buy	RNAV (50% discount)
11/09/17	DBS Vickers	Perennial Reit	0.88	1.05	Buy	RNAV (50% discount)
01/04/18	DBS Vickers	Perennial Reit	0.88	1.05	Buy
02/09/18	CIMB	Perennial Reit	0.835	1.12	Add
02/12/18	DBS Vickers	Perennial Reit	0.835	1.05	Buy	RNAV (50% discount)
03/13/18	CIMB	Perennial Reit	0.855	1.18	Add	RNAV (40% discount)
03/14/18	DBS Vickers	Perennial Reit	0.875	1.05	Buy
04/06/18	DBS Vickers	Perennial Reit	0.855	1.05	Buy
05/10/18	CIMB	Perennial Reit	0.86	1.18	Add	RNAV (40% discount)
08/06/18	DBS Vickers	Perennial Reit	0.805	1.05	Buy	RNAV (50% discount)
08/07/18	CIMB	Perennial Reit	0.805	0.99	Add	RNAV (50% discount)
11/09/18	DBS Vickers	Perennial Reit	0.685	0.83	Buy	RNAV (55% discount)

PEC - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/21/17	Amfraserss	PEC	0.595	0.73	Buy
03/06/17	DBS Vickers	PEC	0.64	0.73	Not Rated

Stock calls for 16 November 2018

Date	Analyst	Company	Last	Target	Call	Valuation
11/16/18	CIMB	Capitamall Trust	2.13	2.28	Add	DDM
11/16/18	phillip	CNMC	0.22	0.29	Buy	DCF
11/16/18	CIMB	Frasers Centrepoint Trust	2.15	2.35	Add	DDM
11/16/18	phillip	HMI	0.545	0.77	Buy	DCF
11/16/18	DBS Vickers	Keppel Infrastructure	0.46	0.58	Buy	DDM
11/16/18	Lim & Tan	Keppel Infrastructure	0.46	0	Hold
11/16/18	CIMB	Mapletree Commercial	1.62	1.67	Add	DDM
11/16/18	CIMB	SPH Reit	1	1.01	Hold	DDM
11/16/18	OCBC	Wilmar	3.22	3.42	Hold	PER12.5x
11/16/18	DBS Vickers	Wilmar	3.22	3.59	Buy	DCF
11/16/18	DMG & Partners	Wilmar	3.22	3.69	Buy

Singapore NODX grew 8.3% in October 2018.

https://www.straitstimes.com/business/economy/singapore-non-oil-exports-jump-83-in-october?xtor=CS11-86

Year on year changes (YOY):

October 2018: 8.3%

September 2018: 8.3%

August 2018: 5%

July 2018: 11.8% (Corrected)

June 2018: 1.1%

May 2018: 15.5%

April 2018: 11.8%

March 2018: -2.7%

February 2018: -5.9%

January 2018: 13%

December 2017: 3.1%

November 2017: 9.1%

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%

https://sg-stock.blogspot.com/2018/10/singapore-nodx-grew-83-in-september-2018.html

China fund managers don't pin hope on the US-China trade talk during G20.

https://finance.yahoo.com/news/china-fund-managers-don-apos-040240334.html

China fund managers don't have much hope for any detente for the trade war.

What say you?

Please vote in our post below.

http://sg-stock.blogspot.com/2018/11/poll-do-you-think-that-trump-and-xi.html

Poll - Do you think that Trump and Xi will reach a trade deal this November 2018?

https://www.channelnewsasia.com/news/asia/china-sends-written-response-to-us-trade-reform-demands-us-govt-10934110

China has responded to US demands and will engage in a trade talk in November 2018.

Do you think that the US and China will be able to reach a trade deal in the November G20 meeting?

Please vote on the Like or Dislike box below.

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China CM-401 anti-ship missile.

This new anti-ship missile CM-401 has a speed of mach 6 and a range of 290km.  Currently, no missile defence system can intercept a mach 6 missile.

Although CM-401 cannot destroy an aircraft carrier with a single missile, it can easily destroy a destroyer.  Presently, China has only deployed CM-401 on the land but is still developing the CM-401 to be airborne (fighter jet) and seaborne (destroyer).

Parkway Life - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/25/17	Lim & Tan	Parkway Life	2.39	0	Accumulate
01/26/17	CIMB	Parkway Life	2.4	2.58	Add	DDM
01/26/17	DBS Vickers	Parkway Life	2.4	2.75	Buy
01/26/17	UOB Kay Hian	Parkway Life	2.4	2.5	Hold	DDM
02/14/17	CIMB	Parkway Life	2.45	2.58	Add
03/06/17	CIMB	Parkway Life	2.44	2.58	Add
03/07/17	UOB Kay Hian	Parkway Life	2.44	2.5	Hold
04/11/17	UOB Kay Hian	Parkway Life	2.53	2.5	Hold
04/26/17	CIMB	Parkway Life	2.6	2.71	Add	DDM
04/26/17	DBS Vickers	Parkway Life	2.6	2.82	Buy
05/25/17	UOB Kay Hian	Parkway Life	2.58	2.82	Buy
07/26/17	CIMB	Parkway Life	2.76	2.83	Add	DDM
07/26/17	UOB Kay Hian	Parkway Life	2.76	2.82	Buy	DDM
07/26/17	Lim & Tan	Parkway Life	2.76	0	Accumulate on weakness
10/23/17	UOB Kay Hian	Parkway Life	2.79	2.82	Buy
11/10/17	CIMB	Parkway Life	2.86	2.93	Hold	DDM
11/10/17	DBS Vickers	Parkway Life	2.86	3.1	Buy
11/10/17	UOB Kay Hian	Parkway Life	2.86	3	Buy
12/01/17	UOB Kay Hian	Parkway Life	2.9	3	Buy
01/29/18	CIMB	Parkway Life	2.97	3.07	Hold	DDM
01/29/18	Lim & Tan	Parkway Life	2.97	0	Hold
01/29/18	DBS Vickers	Parkway Life	2.97	3.15	Buy
05/02/18	CIMB	Parkway Life	2.79	3.07	Hold	DDM
05/02/18	UOB Kay Hian	Parkway Life	2.79	3.32	Buy	DDM
05/04/18	Lim & Tan	Parkway Life	2.78	0	Buy
06/20/18	DBS Vickers	Parkway Life	2.58	3.15	Buy
07/26/18	Lim & Tan	Parkway Life	2.78	0	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
10/25/18	UOB Kay Hian	Parkway Life	2.67	3.15	Buy	DDM
10/26/18	DBS Vickers	Parkway Life	2.63	3.1	Buy	DCF
10/26/18	CIMB	Parkway Life	2.63	3.05	Hold