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Monday, December 3, 2018

Singapore Medical - Stock calls


Date Analyst Company Last Target Call Valuation
01/03/17 DMG & Partners Singapore Medical 0.44 0.63 Buy DCF, PER27x FY17
01/23/17 Kim Eng Singapore Medical 0.465 0.59 Buy PER27x FY17
02/17/17 DMG & Partners Singapore Medical 0.56 0.59 Buy
03/01/17 DMG & Partners Singapore Medical 0.585 0.65 Buy DCF, PER27x FY18
03/01/17 Kim Eng Singapore Medical 0.585 0.67 Buy PER27x FY18
04/05/17 Kim Eng Singapore Medical 0.565 0.67 Buy PER27x FY18
04/21/17 Kim Eng Singapore Medical 0.55 0.78 Buy PER27x FY18
04/24/17 DMG & Partners Singapore Medical 0.615 0.79 Buy DCF, PER28x FY18
06/05/17 Kim Eng Singapore Medical 0.605 0.78 Buy PER27x FY18
08/16/17 Kim Eng Singapore Medical 0.615 0.78 Buy PER27x FY18
08/16/17 DMG & Partners Singapore Medical 0.615 0.79 Buy DCF, PER27x FY18
10/19/17 DMG & Partners Singapore Medical 0.625 0.79 Buy DCF, PER26.5x FY18
10/20/17 Kim Eng Singapore Medical 0.615 0.78 Buy PER27x FY18
11/13/17 DBS Vickers Singapore Medical 0.6 0.75 Buy PER25x FY18/19, PEG0.3x
11/30/17 Kim Eng Singapore Medical 0.57 0.78 Buy
01/24/18 DMG & Partners Singapore Medical 0.605 0.79 Buy
01/26/18 UOB Kay Hian Singapore Medical 0.63 0.83 Buy PER26.8x FY18, PEG0.3x
02/06/18 DMG & Partners Singapore Medical 0.58 0.79 Buy DCF, PER27x FY18
03/01/18 UOB Kay Hian Singapore Medical 0.56 0.83 Buy PER26.8x FY18
03/02/18 DBS Vickers Singapore Medical 0.56 0.73 Buy
03/02/18 Kim Eng Singapore Medical 0.56 0.7 Buy PER27x FY18
03/02/18 DMG & Partners Singapore Medical 0.56 0.68 Buy DCF, PER26x FY18
03/19/18 UOB Kay Hian Singapore Medical 0.51 0.74 Buy PER25.8x FY18
05/16/18 UOB Kay Hian Singapore Medical 0.505 0.74 Buy PER26.8x FY18
05/16/18 DMG & Partners Singapore Medical 0.505 0.68 Buy DCF
05/16/18 DBS Vickers Singapore Medical 0.505 0.73 Buy PER25x FY19
06/06/18 UOB Kay Hian Singapore Medical 0.495 0.74 Buy
06/27/18 DMG & Partners Singapore Medical 0.46 0.68 Buy
07/31/18 DMG & Partners Singapore Medical 0.425 0.56 Buy DCF, PER21.5x
08/15/18 DMG & Partners Singapore Medical 0.43 0.56 Buy DCF
08/16/18 UOB Kay Hian Singapore Medical 0.425 0.74 Buy
11/07/18 UOB Kay Hian Singapore Medical 0.4 0.74 Buy PER22.2x FY19
11/08/18 DMG & Partners Singapore Medical 0.41 0.56 Buy DCF

Stock calls for 3 December 2018


Date Analyst Company Last Target Call Valuation
12/03/18 UOB Kay Hian Capitaland 3.12 4.4 Buy RNAV (20% discount)
12/03/18 OCBC Frasers Centrepoint Trust 2.16 2.5 Buy
12/03/18 OCBC Frasers Logistics 1.06 1.19 Buy
12/03/18 OCBC Keppel DC Reit 1.36 1.48 Buy
12/03/18 DBS Vickers Keppel Reit 1.15 1.41 Buy
12/03/18 DMG & Partners Keppel Reit 1.15 1.06 Neutral
12/03/18 DMG & Partners Kimly 0.255 0.27 Neutral DCF
12/03/18 OCBC Mapletree North Asia 1.13 1.34 Buy

The US-China truce has different interpretations.

https://sg.finance.yahoo.com/news/china-apos-descriptions-trump-xi-041500240.html

Look like the trade tension will escalate after 90 days because both sides have different interpretations of the truce.

Companies will not change their investment decisions based on a 90-day truce.  Therefore, nothing will change in the real business world.  The only thing that will change is the stock investors' behaviour but this will not affect the companies' earnings.  Fundamentally, it is a company's earnings that will affect or support the stock price.  Investors react positively to the truce but this is just a knee-jerk reaction as businesses will remain the same.

Sunday, December 2, 2018

No trade deal between US and China in G20.

https://www.channelnewsasia.com/news/asia/china-us-donald-trump-xi-jinping-trade-tariffs-10988876

Nothing was achieved in the G20 between US and China.  Both sides are trying to act cordially in front of the media but fundamentally, nothing has changed.

The existing punitive tariffs are still in place but more ineffective on-going talks will continue.  There are huge gaping fundamental differences which are just impossible to resolve.  Furthermore, the US will continue to embark on smearing campaigns against China to achieve its aims of getting China to submit.  This is definitely a bad strategy to get China to a trade deal because China won't submit due to its nationalistic characteristic.

Nevertheless, the existing tariffs will contain the economic growth of both countries and this trade war will escalate in 2019.  Therefore, 2019 will be a bad year for the world.


Saturday, December 1, 2018

India is slowing down!

https://www.channelnewsasia.com/news/business/india-economic-growth-slows-to-7-1-10985712

The Asian economies are slowing down!

http://sg-stock.blogspot.com/2018/11/malaysia-and-thailand-economies-are.html

Let's take a snapshot of Asian economies.

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

A dead cat bounce for bitcoin?

Yes, bitcoin is having a dead cat bounce because of short-covering.

Crypto proponents are still daydreaming that the financial institutions will get onto the crypto bandwagon and push up the crypto prices.  However, it won't happen because of the flawed structural design and bad economics of crypto.

http://sg-stock.blogspot.com/2018/11/a-financial-analysis-on-initial-coin.html

These financial institutions won't even use public blockchains but will develop their own private blockchains because of privacy and confidential issues.

As more people get educated about ICO & Crypto, the interest in these flawed products will decline, just like the way CDOs are abandoned.

US-China trade talk in G20 will likely break down.

https://sg.news.yahoo.com/two-u-navy-ships-pass-taiwan-strait-opposing-004012430.html

Trump and Putin talk had been cancelled in G20.

Trump and Xi trade talk will break down too in G20 because US naval ships sail in a sensitive area prior to the talk.

What purpose does this serve? Nothing!


Baltic dry index - 1231

Today, Friday, November 30 2018, the Baltic Dry Index decreased by 50 points, reaching 1231 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 - 1076

The US drilling rig count is down 3 units to 1,076 rigs working for the week ended Nov. 30, according to Baker Hughes data. The count is up 147 units from the 929 rigs working this time a year ago.
At 1,051 rigs working, one less unit is drilling on land week-over-week. Offshore units are down by 2 to reach 23 rigs working, while those drilling in inland waters remain unchanged at 2 rigs working for the week.
US oil-directed rigs are up 2 units from last week to 887 units working, and up from the 749 rigs drilling for oil this week a year ago. Gas-directed rigs are down 5 units at 189, and up from the 180 units drilling for gas a year ago.
Among the major oil and gas-producing states, only four saw an increase in rigs week over week. Wyoming saw a 2-rig increase to 30, while Oklahoma, 145; Alaska, 6; and Utah, 5; each added a single unit.
Six states are unchanged this week: New Mexico, 108; North Dakota, 52; Pennsylvania, 46; Ohio, 16; California, 15; and Kansas, 0.
The largest decrease comes from Louisiana where a 4-unit drop brought the total number of rigs running to 65. West Virginia dropped 2 units to reach 11 rigs. With a one-rig decrease, Texas stands at 531 rigs working for the week, while Colorado’s single-rig drop brings the total to 33 rigs running.
======================
Related stocks: Keppel Corp, Sembcorp Marine & Cosco

Friday, November 30, 2018

Sing Investments - Stock calls


Date Analyst Company Last Target Call Valuation
07/24/17 phillip Sing Investments 1.475 1.67 Accumulate GGM, PB0.8x
08/04/17 phillip Sing Investments 1.51 1.67 Accumulate PB0.8x
10/26/17 phillip Sing Investments 1.58 1.725 Accumulate GGM, PB0.8x FY18

Sing Holdings - Stock calls


Date Analyst Company Last Target Call Valuation
08/30/17 Amfrasers Sing Holdings 0.39 0.54 Buy RNAV (30% discount), PB0.83x FY16
04/05/18 Amfrasers Sing Holdings 0.42 0.68 Buy RNAV (30% discount), PB1x FY17

Sinarmas - Stock calls


Date Analyst Company Last Target Call Valuation
03/03/17 phillip Sinarmas Land 0.465 0.73 Buy RNAV (35% discount)
05/17/17 phillip Sinarmas Land 0.455 0.73 Buy RNAV (35% discount)

Stock calls for 30 November 2018


Date Analyst Company Last Target Call Valuation
11/30/18 CIMB Capitamall Trust 2.26 2.29 Add
11/30/18 CIMB CDL Hospitality 1.49 1.63 Add DDM
11/30/18 OCBC Far East Hospitality 0.61 0.675 Buy
11/30/18 Lim & Tan Hutchison Port 0.26 0 Hold
11/30/18 CIMB IHH Healthcare 1.8 2.1 Add Sum of parts, Ringgit $6.40 target price
11/30/18 CIMB Keppel Reit 1.16 1.34 Add
11/30/18 UOB Kay Hian SATS 4.68 5.4 Buy
11/30/18 UOB Kay Hian SIA 9.65 10.2 Hold
11/30/18 CIMB Y Venture 0.28 0.56 Add PER30x FY19
11/30/18 DBS Vickers Yanlord 1.3 1.62 Buy PER4.7x FY19

Thursday, November 29, 2018

Red alert! Racial riot in Kuala Lumpur!










Please refrain from visiting KL now.  Visit KL at your own risk!

Do Thailand and Vietnam really benefit from the US-China trade war?

https://www.channelnewsasia.com/news/business/supply-chain-reaction-trade-war-refugees-race-to-relocate-to-10979152

When a country becomes a manufacturing hub, it will start to export a lot more than before and also cause it to have a huge trade surplus with the USA.  Thereafter, it will be in the same situation as China now because the USA will start to target the export-oriented manufacturing country.

Thailand and Vietnam are not as big as China and don't have the same prowess to defend themselves against the USA.  In the end, Thailand and Vietnam will bow to the USA and sign unfair trade agreements with the USA.  This is the USA's mentality - I can export to you but you cannot export to me.

Good luck to Thailand and Vietnam in the future!

Silverlake - Stock calls


Date Analyst Company Last Target Call Valuation
02/16/17 CIMB Silverlake 0.58 0.65 Add DCF
02/16/17 DMG & Partners Silverlake 0.58 0.7 Buy DCF
05/17/17 CIMB Silverlake 0.53 0.65 Add DCF
05/17/17 DMG & Partners Silverlake 0.53 0.65 Buy DCF
06/02/17 CIMB Silverlake 0.535 0.65 Add DCF
04/25/18 CIMB Silverlake 0.53 0.58 Add DCF
05/16/18 DMG & Partners Silverlake 0.55 0.65 Buy DCF, PER21x FY19
05/16/18 CIMB Silverlake 0.55 0.56 Add DCF
05/24/18 DBS Vickers Silverlake 0.545 0.65 Not Rated PER22x FY19
06/20/18 DMG & Partners Silverlake 0.52 0.65 Buy DCF, PERf21x FY19
07/27/18 DMG & Partners Silverlake 0.515 0.65 Buy DCF, PER23x FY19
08/27/18 CIMB Silverlake 0.455 0.56 Add DCF
08/28/18 DMG & Partners Silverlake 0.46 0.57 Buy DCF
09/07/18 DMG & Partners Silverlake 0.445 0.57 Buy
09/14/18 CIMB Silverlake 0.42 0.56 Add DCF
11/14/18 DMG & Partners Silverlake 0.41 0.65 Buy DCF
11/14/18 CIMB Silverlake 0.41 0.56 Add Sum of parts, PER17.6x FY20

SIIC - Stock calls


Date Analyst Company Last Target Call Valuation
01/03/17 DMG & Partners SIIC 0.59 1.13 Buy DCF
01/17/17 DBS Vickers SIIC 0.565 0.68 Buy PER25x FY17
02/17/17 DMG & Partners SIIC 0.58 0.96 Buy DCF, PER20x FY17
04/26/17 DMG & Partners SIIC 0.53 0.96 Buy
08/14/17 DMG & Partners SIIC 0.465 0.82 Buy DCF
08/15/17 DBS Vickers SIIC 0.46 0.53 Hold PER22x
10/11/17 DBS Vickers SIIC 0.52 0.53 Hold PER22x FY17
11/10/17 DMG & Partners SIIC 0.515 0.54 Neutral DCF
12/27/17 DBS Vickers SIIC 0.515 0.53 Hold
11/15/18 DBS Vickers SIIC 0.28 0.32 Hold PER13x

SIA Engineering - Stock calls


Date Analyst Company Last Target Call Valuation
01/03/17 UOB Kay Hian SIA Engineering 3.37 3.3 Sell
02/06/17 CIMB SIA Engineering 3.52 3.77 Hold DCF
02/06/17 DBS Vickers SIA Engineering 3.52 3.58 Hold Sum of parts
02/06/17 Kim Eng SIA Engineering 3.52 3.7 Hold PER20x FY18
02/06/17 OCBC SIA Engineering 3.52 3.58 Hold DCF
02/06/17 phillip SIA Engineering 3.52 3.38 Neutral DCF
02/06/17 UOB Kay Hian SIA Engineering 3.52 3.3 Sell DCF
03/02/17 UOB Kay Hian SIA Engineering 3.67 3.3 Sell
04/05/17 UOB Kay Hian SIA Engineering 3.7 3.3 Sell
04/06/17 Lim & Tan SIA Engineering 3.7 0 Hold PER24x FY17/18
05/16/17 CIMB SIA Engineering 3.98 3.98 Hold DCF
05/16/17 DBS Vickers SIA Engineering 3.98 3.84 Hold Sum of parts
05/16/17 OCBC SIA Engineering 3.98 3.75 Hold DDM
05/16/17 phillip SIA Engineering 3.98 3.7 Neutral DCF, PER23.4x FY18
05/16/17 UOB Kay Hian SIA Engineering 3.98 3.5 Sell DCF, PER26x FY18
06/06/17 UOB Kay Hian SIA Engineering 3.94 3.5 Sell
06/07/17 OCBC SIA Engineering 3.97 3.75 Hold
06/22/17 Lim & Tan SIA Engineering 4.16 0 Hold
06/28/17 CIMB SIA Engineering 4.17 3.86 Reduce DCF
07/03/17 OCBC SIA Engineering 4.08 3.75 Hold
07/10/17 UOB Kay Hian SIA Engineering 4.06 3.6 Sell DCF, PER23x FY18
07/26/17 phillip SIA Engineering 3.87 3.7 Reduce DCF, PER24.9x FY18
07/26/17 CIMB SIA Engineering 3.87 3.86 Reduce DCF
07/26/17 OCBC SIA Engineering 3.87 3.7 Hold
07/26/17 DBS Vickers SIA Engineering 3.87 3.84 Hold Sum of parts
08/02/17 DIR SIA Engineering 3.54 4.1 Outperform DCF
08/17/17 UOB Kay Hian SIA Engineering 3.49 3.6 Sell DCF, PER23.7x FY18
10/12/17 Crucial Perspective SIA Engineering 3.18 4.5 Outperform
11/07/17 UOB Kay Hian SIA Engineering 3.3 3.5 Hold DCF, Buy @ $3.10-3.15
11/07/17 phillip SIA Engineering 3.3 3.35 Neutral DCF, PER24.6x FY18
11/07/17 OCBC SIA Engineering 3.3 3.35 Hold
11/07/17 Kim Eng SIA Engineering 3.3 3.5 Hold PER21x FY19
11/07/17 CIMB SIA Engineering 3.3 3.7 Reduce
12/18/17 DIR SIA Engineering 3.11 3.56 Outperform
01/30/18 UOB Kay Hian SIA Engineering 3.26 4 Buy DCF, PER24.9x FY18
02/05/18 UOB Kay Hian SIA Engineering 3.33 4 Buy DCF
02/05/18 phillip SIA Engineering 3.33 3.51 Accumulate DCF
02/05/18 Kim Eng SIA Engineering 3.33 3.5 Hold PER21x FY19
02/05/18 CIMB SIA Engineering 3.33 3.13 Reduce DCF
02/05/18 Lim & Tan SIA Engineering 3.33 0 Hold
02/05/18 OCBC SIA Engineering 3.33 3.7 Buy DCF
02/05/18 DBS Vickers SIA Engineering 3.33 3.86 Buy
03/09/18 UOB Kay Hian SIA Engineering 3.25 4 Buy
05/11/18 UOB Kay Hian SIA Engineering 3.31 4 Buy DCF, PER20.8x FY18
05/16/18 Lim & Tan SIA Engineering 3.33 0 Hold
05/17/18 phillip SIA Engineering 3.31 3.57 Accumulate DCF
05/17/18 DBS Vickers SIA Engineering 3.31 3.92 Buy Sum of parts
05/17/18 UOB Kay Hian SIA Engineering 3.31 3.8 Buy PER19.6x ex-cash
05/17/18 OCBC SIA Engineering 3.31 3.7 Buy
06/11/18 UOB Kay Hian SIA Engineering 3.17 3.8 Buy
07/20/18 phillip SIA Engineering 3.19 3.56 Accumulate DCF, PER22x FY19
07/20/18 DBS Vickers SIA Engineering 3.19 3.92 Buy Sum of parts
07/23/18 UOB Kay Hian SIA Engineering 3.2 3.4 Hold DCF, PER21.8x FY19, Buy @ $3-3.1
08/01/18 CIMB SIA Engineering 2.98 3.31 Add DCF
09/10/18 UOB Kay Hian SIA Engineering 2.93 3.4 Hold
11/12/18 phillip SIA Engineering 2.83 2.81 Neutral DCF, PER20.6x FY19
11/12/18 UOB Kay Hian SIA Engineering 2.83 2.7 Hold DCF, Buy @ $2.40 or PER15x FY19
11/12/18 DBS Vickers SIA Engineering 2.83 2.94 Hold Sum of parts
11/12/18 CIMB SIA Engineering 2.83 3.11 Add DCF, PER19.6x CY19
11/26/18 OCBC SIA Engineering 2.51 2.64 Hold DCF

Stock calls for 29 November 2018


Date Analyst Company Last Target Call Valuation
11/29/18 Kim Eng Capitamall Trust 2.24 2.2 Hold DDM
11/29/18 Kim Eng Frasers Centrepoint Trust 2.17 2.55 Buy
11/29/18 OCBC SATS 4.65 5.34 Buy FCFE
11/29/18 OCBC ST Engineering 3.5 3.95 Buy

US economy will crumble if the US-China trade war continues.

https://www.cnbc.com/2018/11/28/manufacturers-say-trump-tariffs-to-bring-higher-prices-not-jobs-survey.html?__source=yahoo%7Cfinance%7Cheadline%7Cstory%7C&par=yahoo&yptr=yahoo

The GM is retrenching 14,000 staffs and more companies will follow suit if the US-China trade war continues or escalates.

The US companies are sending a strong signal to Trump now.  If Trump and Xi cannot reach a detente in the G20 summit, the stock markets will fall significantly again because the euphoria of the trade talk has been factored into the stock markets now.  Investors are betting that both leaders are still sane and will reach a deal to avoid any economic malaise.  However, Trump is the insane one.

Wednesday, November 28, 2018

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
07/27/18 Lim & Tan SIA 10.8 0 Hold
07/27/18 OCBC SIA 10.8 11.01 Hold
07/27/18 Kim Eng SIA 10.8 9.65 Sell PB0.82x FY18
07/30/18 CIMB SIA 10.22 11.75 Add PB1.05x CY18
07/30/18 DBS Vickers SIA 10.22 12.4 Buy PB1.1x FY19
07/31/18 UOB Kay Hian SIA 10.1 11.1 Hold PB0.8x, Buy @ $9.80
09/10/18 UOB Kay Hian SIA 9.62 11.1 Hold
09/18/18 UOB Kay Hian SIA 9.57 10.4 Hold PB0.75x, Buy @ $9.10
10/16/18 Macquarie SIA 9.2 11.7 Outperform EV/Ebitda7x FY19, Cut from $12.50
10/17/18 OCBC SIA 9.15 10.71 Buy PB0.9x
11/09/18 Kim Eng SIA 9.65 9.8 Hold PB0.82x FY20
11/12/18 CIMB SIA 9.52 10.1 Hold PB0.9x CY19
11/14/18 UOB Kay Hian SIA 9.42 10.4 Hold PB0.75x FY19, Buy @ $9.20-9.30
11/14/18 DBS Vickers SIA 9.42 10.2 Hold PB0.85x FY19
11/15/18 OCBC SIA 9.41 10.71 Buy PB0.85x FY19
11/15/18 Lim & Tan SIA 9.41 0 Hold

SHS - Stock calls


Date Analyst Company Last Target Call Valuation
05/25/18 phillip SHS 0.23 0.29 Buy PER10x FY19
08/23/18 phillip SHS 0.24 0.29 Buy PER10x FY19
11/19/18 phillip SHS 0.215 0.24 Accumulate 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 28 November 2018


Date Analyst Company Last Target Call Valuation
11/28/18 UOB Kay Hian IHH Healthcare 1.57 1.95 Buy Sum of parts, PER36x FY19
11/28/18 DBS Vickers IHH Healthcare 1.57 2.08 Buy Ringgit $6.35 target price
11/28/18 OCBC Mapletree Commercial 1.63 1.79 Buy DDM
11/28/18 Phillip Thai Beverage 0.63 0.57 Reduce Sum of parts
11/28/18 UOB Kay Hian Thai Beverage 0.63 0.8 Buy Sum of parts
11/28/18 DMG & Partners Thai Beverage 0.63 0.75 Buy Sum of parts
11/28/18 CIMB Thai Beverage 0.63 0.73 Add Sum of parts, PER17x
11/28/18 Exotix Capital Wilmar 3.16 2.29 Sell PER10x

Something interesting about Singapore.

How many people realize this?

Who bought Iphones in China?

https://9to5mac.com/2018/11/22/iphones-in-china/

It is the poor that bought Iphones in China whilst the rich bought Huawei.

This is the reason Apple cannot keep increasing the Iphone prices in China because the demand is highly elastic since Iphones are bought by the poor.

No wonder Iphone sales are faltering in China.

More bad news for Apple.

https://finance.yahoo.com/news/tuesday-apple-rumors-more-iphone-172944902.html

Apple is rumoured to implement another production cut after its previous 1/3 production cut and Asian price reduction.  Furthermore, Trump may impose 10% tariff against Apple products.

This is a double-whammy for Apple!

http://sg-stock.blogspot.com/2018/11/apple-is-cutting-its-iphone-xr-prices.html

http://sg-stock.blogspot.com/2018/11/apple-has-cut-production-orders-by-13.html