Yuuzoo - Stock calls

07/06/17	Lim & Tan	Yuuzoo	0.077	0	-100.00	Fraud alert
08/16/17	Lim & Tan	Yuuzoo	0.055	0	-100.00
12/22/17	Lim & Tan	Yuuzoo	0.048	0	-100.00
03/20/18	Lim & Tan	Yuuzoo	0.038	0	-100.00

Stock calls for 27 December 2018

Date	Analyst	Company	Last	Target	Call	Valuation
12/27/18	DMG & Partners	Yoma	0.33	0.57	Buy	Sum of parts (20% discount)

SGX has lost its IPO crown jewel status.

https://sg.finance.yahoo.com/news/vietnam-unseats-singapore-largest-ipo-010200169.html

This is not unexpected as we've posted that SGX would find it increasingly hard to get companies to list in SG.

http://sg-stock.blogspot.com/2017/04/sgx-is-finding-increasingly-hard-to.html

The SGX today is a derivatives market and not a securities market anymore.  Therefore, it is not surprising that companies do not want to list in SG but prefer to go to HK, China and US.  Even a developing country like Vietnam can unseat SG. Sigh!

Yongnam - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/26/17	CIMB	Yongnam	0.305	0.53	Add	PB0.8x FY18
12/20/17	CIMB	Yongnam	0.325	0.53	Add
01/05/18	CIMB	Yongnam	0.335	0.53	Add	PB0.8x FY18
02/02/18	CIMB	Yongnam	0.35	0.53	Add	PB0.8x FY18
03/02/18	CIMB	Yongnam	0.3	0.57	Add	PB0.8x FY19
04/10/18	CIMB	Yongnam	0.29	0.57	Add	PB0.8x FY19
05/16/18	CIMB	Yongnam	0.31	0.56	Add	PB0.8x FY19
08/15/18	CIMB	Yongnam	0.255	0.45	Add	PB0.8x FY19
11/05/18	CIMB	Yongnam	0.186	0.45	Add	PB0.8x FY19

Yoma - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	DMG & Partners	Yoma	0.585	0.75	Buy	Sum of parts (10% discount)
02/13/17	DBS Vickers	Yoma	0.58	0.8	Buy
03/28/17	DMG & Partners	Yoma	0.62	0.78	Buy	Sum of parts (10% discount)
04/11/17	DIR	Yoma	0.63	0.66	Hold	Sum of parts (30% discount)
05/24/17	OCBC	Yoma	0.575	0.54	Hold
05/25/17	DBS Vickers	Yoma	0.575	0.8	Buy
05/25/17	DIR	Yoma	0.575	0.62	Hold	Sum of parts (30% discount)
06/06/17	DMG & Partners	Yoma	0.59	0.78	Buy	Sum of parts (10% discount)
07/05/17	OCBC	Yoma	0.585	0.54	Hold
07/27/17	OCBC	Yoma	0.61	0.58	Hold
07/27/17	DMG & Partners	Yoma	0.61	0.78	Buy	Sum of parts (10% discount)
08/21/17	OCBC	Yoma	0.565	0.58	Hold
09/15/17	OCBC	Yoma	0.58	0.58	Hold
10/11/17	OCBC	Yoma	0.6	0.58	Hold
10/30/17	DBS Vickers	Yoma	0.59	0.75	Buy	Sum of parts (30% discount)
11/06/17	OCBC	Yoma	0.585	0.55	Hold
12/15/17	DBS Vickers	Yoma	0.54	0.75	Buy
01/02/18	OCBC	Yoma	0.54	0.55	Hold
02/07/18	OCBC	Yoma	0.48	0.55	Buy
03/07/18	OCBC	Yoma	0.42	0.51	Buy	Sum of parts
03/07/18	DBS Vickers	Yoma	0.42	0.75	Buy
05/03/18	DMG & Partners	Yoma	0.43	0.66	Buy	Sum of parts
05/31/18	DBS Vickers	Yoma	0.4	0.58	Buy	RNAV (40% discount)
06/29/18	CIMB	Yoma	0.365	0.62	Not Rated	Bloomberg consensus
11/14/18	DBS Vickers	Yoma	0.35	0.4	Buy	RNAV (60% discount)

Yanlord - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/02/17	DBS Vickers	Yanlord	1.5	2.21	Buy	PER8.9x FY17
05/17/17	DBS Vickers	Yanlord	1.895	2.25	Buy	PER8.3x FY17
05/18/17	Macquarie	Yanlord	1.88	0	Outperform
11/15/17	DBS Vickers	Yanlord	1.74	2.25	Buy	PER7.1x FY18
01/03/18	Citibank	Yanlord	1.72	1.75	Neutral	RNAV (50% discount)
05/21/18	DBS Vickers	Yanlord	1.67	2.27	Buy	PER6x FY18
06/06/18	OCBC	Yanlord	1.7	2.24	Buy	PER6x
08/16/18	OCBC	Yanlord	1.51	2.13	Buy	PER5.5x
08/20/18	DBS Vickers	Yanlord	1.48	2.17	Buy	PER5.5x FY18/19
11/14/18	OCBC	Yanlord	1.28	2.13	Buy
11/21/18	OCBC	Yanlord	1.26	2.04	Buy	PEG
11/30/18	DBS Vickers	Yanlord	1.3	1.62	Buy	PER4.7x FY19

Yangzijiang - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/02/17	DBS Vickers	Yangzijiang	0.98	1.12	Buy	Sum of parts
03/02/17	DIR	Yangzijiang	0.98	0.82	Underperform	PER7.4x FY17
03/02/17	OCBC	Yangzijiang	0.98	0.96	Hold	PER8x
03/15/17	CIMB	Yangzijiang	1.105	1.21	Add	Sum of parts
04/03/17	CIMB	Yangzijiang	1.13	1.21	Add	Sum of parts
04/12/17	Credit Suisse	Yangzijiang	1.155	1	Neutral
04/28/17	Credit Suisse	Yangzijiang	1.16	1.1	Neutral
04/28/17	OCBC	Yangzijiang	1.16	0.96	Hold
05/02/17	CIMB	Yangzijiang	1.15	1.25	Buy	Sum of parts
05/02/17	DBS Vickers	Yangzijiang	1.15	1.35	Buy	Sum of parts
05/02/17	OCBC	Yangzijiang	1.15	1.18	Hold	Sum of parts
06/08/17	CLSA	Yangzijiang	1.235	0.9	Sell
07/06/17	OCBC	Yangzijiang	1.225	1.18	Hold
07/18/17	Credit Suisse	Yangzijiang	1.34	1.1	Neutral
07/21/17	DBS Vickers	Yangzijiang	1.35	1.35	Buy
08/10/17	UOB Kay Hian	Yangzijiang	1.555	1.42	Hold	PB1.1x, Buy @ $1.14
08/10/17	CIMB	Yangzijiang	1.555	1.66	Add	Sum of parts, PB1x
08/10/17	Credit Suisse	Yangzijiang	1.555	1.5	Neutral	Sum of parts
08/10/17	OCBC	Yangzijiang	1.555	1.58	Hold	Buy @ $1.48
08/11/17	DBS Vickers	Yangzijiang	1.595	1.7	Buy	Sum of parts, PB1.3x
08/25/17	DIR	Yangzijiang	1.565	1.24	Sell	PER10x FY17/18
09/04/17	CIMB	Yangzijiang	1.495	1.66	Add	Sum of parts
09/04/17	DBS Vickers	Yangzijiang	1.495	1.7	Buy	Sum of parts, PB1.3x
09/06/17	Credit Suisse	Yangzijiang	1.415	1.5	Neutral
09/25/17	OCBC	Yangzijiang	1.41	1.48	Hold
10/09/17	DBS Vickers	Yangzijiang	1.49	1.7	Buy
10/26/17	Credit Suisse	Yangzijiang	1.53	1.5	Neutral
11/13/17	OCBC	Yangzijiang	1.64	1.63	Hold
11/13/17	CIMB	Yangzijiang	1.64	1.8	Add	Sum of parts
11/14/17	DBS Vickers	Yangzijiang	1.67	1.82	Buy	Sum of parts, PB1.3x
12/20/17	CIMB	Yangzijiang	1.49	1.8	Add
03/02/18	OCBC	Yangzijiang	1.45	1.49	Hold	Sum of parts
03/02/18	CIMB	Yangzijiang	1.45	1.51	Hold	Sum of parts
03/05/18	DBS Vickers	Yangzijiang	1.41	1.82	Buy	Sum of parts, PB1.3x
03/16/18	OCBC	Yangzijiang	1.3	1.34	Hold	Sum of parts
04/30/18	DBS Vickers	Yangzijiang	1.16	1.82	Buy
04/30/18	CIMB	Yangzijiang	1.16	1.27	Hold	Sum of parts
04/30/18	OCBC	Yangzijiang	1.16	1.22	Hold
05/02/18	DBS Vickers	Yangzijiang	1.17	1.82	Buy	Sum of parts
06/06/18	CIMB	Yangzijiang	1.02	1.27	Add	Sum of parts
06/12/18	OCBC	Yangzijiang	0.995	1.18	Buy	Sum of parts
06/25/18	UOB Kay Hian	Yangzijiang	0.96	1.3	Buy
07/03/18	DBS Vickers	Yangzijiang	0.885	1.82	Buy	Sum of parts, PB1.25x
07/03/18	UOB Kay Hian	Yangzijiang	0.885	1.3	Buy
07/11/18	CIMB	Yangzijiang	0.91	1.27	Add	Sum of parts
08/08/18	CIMB	Yangzijiang	0.91	1.29	Add	Sum of parts
08/08/18	OCBC	Yangzijiang	0.91	1.23	Buy
08/10/18	DBS Vickers	Yangzijiang	0.99	1.82	Buy	Sum of parts
09/26/18	JP Morgan	Yangzijiang	1.17	1.4	Overweight
10/03/18	OCBC	Yangzijiang	1.26	1.32	Hold
10/15/18	DBS Vickers	Yangzijiang	1.27	1.82	Buy	Sum of parts, PB1.3x
10/19/18	JP Morgan	Yangzijiang	1.37	1.4	Neutral
10/30/18	UOB Kay Hian	Yangzijiang	1.21	1.25	Buy
11/08/18	OCBC	Yangzijiang	1.29	1.41	Buy
11/08/18	CIMB	Yangzijiang	1.29	1.37	Add	Sum of parts
11/09/18	UOB Kay Hian	Yangzijiang	1.32	1.36	Hold	PB0.9x FY19
11/12/18	DBS Vickers	Yangzijiang	1.3	1.82	Buy	Sum of parts
12/21/18	DBS Vickers	Yangzijiang	1.21	1.82	Buy

Apple sales will continue to plunge in China.

https://finance.yahoo.com/news/chinese-companies-paying-employees-buy-154723513.html

Anti-US sentiment is the proximate cause of the decline in Apple's sales in China and Apple is set to continue to fall further because consumers will not replace their mobile phones for 2 years after buying Huawei.

The stock markets plunge heavily because of the Treasury Secretary.

The Treasury Secretary, Steven Mnuchin, is about to convene a "plunge protection team" to handle the financial issues.  This action spooked the markets after the formation news was out because this formation would usually occur during a financial crisis.

Is Steven trying to signal to the market that a financial crisis is in the offing?

No wonder the stock markets crash like hell!

Y Venture - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/22/17	UOB Kay Hian	Y Venture	0.196	0.28	Buy
01/29/18	Phillip	Y Venture	0.44	0.7	Buy	PER30x FY18
03/05/18	Phillip	Y Venture	0.68	0.7	Neutral	PER30x FY18
03/05/18	UOB Kay Hian	Y Venture	0.68	0.8	Buy	Up from $0.65
03/28/18	DBS Vickers	Y Venture	0.535	0.77	Buy	EV/Ebitda20x FY19
04/09/18	UOB Kay Hian	Y Venture	0.53	0.8	Buy	PEG0.86x, Price-To-Sales2.6x FY19
05/28/18	CIMB	Y Venture	0.48	0.62	Add
06/28/18	CIMB	Y Venture	0.445	0.62	Add	PER30x CY19
08/02/18	CIMB	Y Venture	0.5	0.62	Add	PER30x FY19
08/02/18	DBS Vickers	Y Venture	0.5	0.77	Buy	EV/Ebitda20x FY19
08/03/18	Phillip	Y Venture	0.5	0.7	Buy
08/16/18	CIMB	Y Venture	0.445	0.56	Add	PER30x FY19
08/17/18	Phillip	Y Venture	0.44	0.61	Buy	PER30x FY18
08/28/18	DBS Vickers	Y Venture	0.4	0.48	Hold	EV/Ebitda19x FY19
09/14/18	CIMB	Y Venture	0.275	0.56	Add
10/30/18	DBS Vickers	Y Venture	0.24	0.34	Hold	EV/Ebitda14x FY19
10/30/18	UOB Kay Hian	Y Venture	0.24	0.57	Buy	PB2.1x FY19
11/30/18	CIMB	Y Venture	0.28	0.56	Add	PER30x FY19

World Class - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/26/17	UOB Kay Hian	World Class	0.23	0.32	Buy

Wing Tai - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/11/17	Kim Eng	Wing Tai	1.64	1.67	Hold
01/11/17	Jefferies	Wing Tai	1.64	2.88	Buy	Up from $2.40
02/07/17	OCBC	Wing Tai	1.785	2.37	Buy
03/10/17	CIMB	Wing Tai	1.79	2.05	Add	RNAV (35% discount)
03/13/17	Deutsche	Wing Tai	1.935	2	Buy
03/13/17	Kim Eng	Wing Tai	1.935	1.67	Hold
03/13/17	OCBC	Wing Tai	1.935	2.37	Buy
03/13/17	UOB Kay Hian	Wing Tai	1.935	2.54	Buy
03/16/17	Kim Eng	Wing Tai	1.9	1.8	Hold
05/12/17	Deutsche	Wing Tai	1.86	2.4	Buy
05/12/17	Kim Eng	Wing Tai	1.86	1.85	Hold
05/24/17	CIMB	Wing Tai	1.845	2.05	Add	RNAV (35% discount)
05/24/17	Lim & Tan	Wing Tai	1.845	0	Buy on weakness
05/24/17	OCBC	Wing Tai	1.845	2.37	Buy
05/24/17	UOB Kay Hian	Wing Tai	1.845	2.61	Buy	RNAV (25% discount)
06/05/17	OCBC	Wing Tai	1.91	2.37	Buy
06/14/17	DBS Vickers	Wing Tai	2.01	2.37	Buy
06/22/17	Deutsche	Wing Tai	2.02	2.93	Buy
07/18/17	CIMB	Wing Tai	2.02	2.05	Add
08/25/17	CIMB	Wing Tai	2.13	2.32	Add	RNAV (35% discount)
08/25/17	Lim & Tan	Wing Tai	2.13	0	Buy
08/29/17	OCBC	Wing Tai	2.12	2.37	Buy
09/05/17	UOB Kay Hian	Wing Tai	2.11	2.61	Buy	RNAV (25% discount)
10/04/17	UOB Kay Hian	Wing Tai	2.18	2.61	Buy	RNAV (25% discount)
10/06/17	Lim & Tan	Wing Tai	2.24	0	Buy
10/20/17	Deutsche	Wing Tai	2.24	2.6	Buy
10/24/17	Lim & Tan	Wing Tai	2.32	0	Buy
10/25/17	OCBC	Wing Tai	2.33	2.77	Buy
10/25/17	DBS Vickers	Wing Tai	2.33	2.77	Buy
11/02/17	UOB Kay Hian	Wing Tai	2.42	2.61	Buy	RNAV (25% discount)
12/01/17	UOB Kay Hian	Wing Tai	2.17	2.78	Buy
12/14/17	OCBC	Wing Tai	2.3	2.77	Buy
01/04/18	UOB Kay Hian	Wing Tai	2.29	2.78	Buy	RNAV (20% discount)
01/04/18	Deutsche	Wing Tai	2.29	2.6	Buy
01/19/18	UOB Kay Hian	Wing Tai	2.34	2.78	Buy
02/13/18	OCBC	Wing Tai	2.13	2.64	Buy	RNAV (10% discount)
02/13/18	UOB Kay Hian	Wing Tai	2.13	2.78	Buy
03/02/18	UOB Kay Hian	Wing Tai	2.2	2.78	Buy
04/03/18	UOB Kay Hian	Wing Tai	2.06	2.78	Buy
04/03/18	CIMB	Wing Tai	2.06	1.96	Hold
05/03/18	UOB Kay Hian	Wing Tai	2.05	2.78	Buy	RNAV (20% discount)
06/05/18	UOB Kay Hian	Wing Tai	2.05	2.78	Buy	RNAV (20% discount)
07/04/18	UOB Kay Hian	Wing Tai	1.99	2.78	Buy	RNAV (20% discount)
07/24/18	Jefferies	Wing Tai	2.11	2.4	Buy
08/29/18	CIMB	Wing Tai	2	1.97	Hold	RNAV (45% discount)
08/29/18	OCBC	Wing Tai	2	2.41	Buy	RNAV (15% discount)
08/29/18	Lim & Tan	Wing Tai	2	0	Buy
10/29/18	OCBC	Wing Tai	1.94	2.41	Buy
12/07/18	UOB Kay Hian	Wing Tai	1.96	2.45	Buy

Stock calls for 24 December 2018

Date	Analyst	Company	Last	Target	Call	Valuation
12/24/18	Lim & Tan	Memtech	0.8	0	Buy

Pump and dump tactics are at work again for Crypto!

http://sg-stock.blogspot.com/2018/12/crypto-exchanges-are-manipulating.html

Crypto investors are losing monies to crypto exchanges because of the "pump and dump" tactics used by those manipulators.  Crypto prices are falling again after recent rises.

US government is on a shutdown mode now!

https://sg.finance.yahoo.com/news/u-government-heads-shutdown-lawmakers-fail-deal-004537162--business.html

Hahaha! No money to pay the government employees but Trump wants money for his border wall.

What a joke!

When a country has no money to pay its own government employees, do you think the nation has the money to pay for its national debts?

Baltic dry index - 1318

Today, Thursday, December 20 2018, the Baltic Dry Index decreased by 60 points, reaching 1318 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 - 1080

Baker Hughes reports U.S. rig count up 9 to 1,080 rigs Baker Hughes reports that the U.S. rig count is up 9 rigs from last week to 1,080, with oil rigs up 10 to 883 and gas rigs down 1 to 197. The U.S. Rig Count is up 149 rigs from last year's count of 931, with oil rigs up 136 and gas rigs up 13. The U.S. Offshore Rig Count is up 1 rig to 24 and up 5 rigs year-over-year. The Canada Rig Count is down 43 rigs from last week to 131, with oil rigs down 37 to 58 and gas rigs down 6 to 73. The Canada Rig Count is down 79 rigs from last year's count of 210, with oil rigs down 62 and gas rigs down 17.

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

Related stocks: Keppel Corp, Sembcorp Marine & Cosco

James Mattis has resigned after the US's pullout from Syria.

https://www.theguardian.com/us-news/2018/dec/21/james-mattis-resignation-trump-erdogan-phone-call

The resignation of US defence secretary, James Mattis, was a surprise indeed because it was a protest against Trump's pullout from Syria.

Unbeknownst to Mattis, Trump reached a secret pact with Turkey for patriot missiles purchase in exchange for the US pullout as Turkey wanted to invade Syria to exterminate the Kurds.

http://sg-stock.blogspot.com/2018/12/the-truth-behind-uss-pullout-from-syria.html

Wilmar - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	DMG & Partners	Wilmar	3.59	3.28	Neutral
01/11/17	DBS Vickers	Wilmar	3.67	3.39	Hold
02/01/17	UOB Kay Hian	Wilmar	3.88	3.5	Sell	Sum of parts, PER12.1x FY17
02/13/17	DBS Vickers	Wilmar	3.93	3.39	Hold
02/21/17	CIMB	Wilmar	3.9	3.93	Hold	Sum of parts
02/21/17	Credit Suisse	Wilmar	3.9	3.73	Neutral
02/22/17	DMG & Partners	Wilmar	3.78	3.56	Neutral	Sum of parts
02/22/17	OCBC	Wilmar	3.78	3.7	Hold	PER14x FY17
03/02/17	UOB Kay Hian	Wilmar	3.65	3.5	Sell	Sum of parts, PER12.1x FY17, Buy @ $3.20
03/13/17	DBS Vickers	Wilmar	3.58	3.9	Hold
04/11/17	DBS Vickers	Wilmar	3.52	3.9	Hold
04/11/17	DMG & Partners	Wilmar	3.52	3.62	Neutral
04/13/17	Credit Suisse	Wilmar	3.52	3.5	Neutral
05/05/17	UOB Kay Hian	Wilmar	3.47	3.5	Hold	Sum of parts, PER12.1x FY17, Buy @ $3.20
05/12/17	CIMB	Wilmar	3.43	3.93	Add	Sum of parts
05/12/17	Credit Suisse	Wilmar	3.43	3.5	Neutral
05/12/17	OCBC	Wilmar	3.43	3.7	Hold
05/15/17	CIMB	Wilmar	3.76	4.52	Add	Sum of parts
05/15/17	DMG & Partners	Wilmar	3.76	3.62	Neutral	DCF, PER13x
05/15/17	Macquarie	Wilmar	3.76	3.7	Neutral
05/15/17	UOB Kay Hian	Wilmar	3.76	4.4	Buy	Sum of parts, PER20x
05/16/17	Credit Suisse	Wilmar	3.82	3.9	Neutral	Sum of parts
05/16/17	DBS Vickers	Wilmar	3.82	3.9	Hold	DCF
06/14/17	UOB Kay Hian	Wilmar	3.51	4.4	Buy	Sum of parts
07/11/17	DBS Vickers	Wilmar	3.32	3.9	Hold
08/11/17	CIMB	Wilmar	3.42	4.52	Add	Sum of parts
08/11/17	DMG & Partners	Wilmar	3.42	3.43	Neutral	Sum of parts
08/11/17	OCBC	Wilmar	3.42	3.66	Hold
08/14/17	DBS Vickers	Wilmar	3.2	3.52	Hold	DCF
08/15/17	Credit Suisse	Wilmar	3.2	3.5	Neutral	PER15x FY17
08/28/17	DIR	Wilmar	3.22	3.82	Buy	PER15x FY17/18
09/05/17	DBS Vickers	Wilmar	3.25	3.52	Hold	DCF
09/07/17	OCBC	Wilmar	3.27	3.68	Hold
10/31/17	UOB Kay Hian	Wilmar	3.4	4.1	Buy	Sum of parts, PER14x FY18
11/13/17	DBS Vickers	Wilmar	3.31	3.52	Hold
11/14/17	UOB Kay Hian	Wilmar	3.32	4.1	Buy	Sum of parts, PER14x FY18
11/14/17	DMG & Partners	Wilmar	3.32	3.33	Neutral	Sum of parts
11/14/17	CIMB	Wilmar	3.32	4.27	Add	Sum of parts
11/14/17	OCBC	Wilmar	3.32	3.51	Hold
11/16/17	DBS Vickers	Wilmar	3.22	3.5	Hold	DCF, PER15x FY18
12/13/17	DMG & Partners	Wilmar	3.11	3.31	Neutral	Sum of parts
12/20/17	CIMB	Wilmar	3.1	4.27	Add
01/04/18	CIMB	Wilmar	3.16	4.27	Add
01/15/18	DBS Vickers	Wilmar	3.16	3.5	Hold
01/16/18	UOB Kay Hian	Wilmar	3.19	4.1	Buy	Sum of parts, PER14x FY18
02/23/18	CIMB	Wilmar	3.04	4.1	Add	Sum of parts
02/23/18	UOB Kay Hian	Wilmar	3.04	4.1	Buy	Sum of parts, PER14x FY18
02/23/18	OCBC	Wilmar	3.04	3.51	Hold	PER13.5x FY18/19
02/26/18	DBS Vickers	Wilmar	3.13	3.65	Buy	DCF
02/26/18	DMG & Partners	Wilmar	3.13	3.45	Buy	Sum of parts
03/05/18	CIMB	Wilmar	3.18	4.1	Add	Sum of parts
03/07/18	UOB Kay Hian	Wilmar	3.16	4.1	Buy	Sum of parts
03/08/18	OCBC	Wilmar	3.18	3.51	Buy
03/14/18	DBS Vickers	Wilmar	3.23	3.65	Buy
04/03/18	DBS Vickers	Wilmar	3.21	3.65	Buy
04/05/18	DMG & Partners	Wilmar	3.08	3.45	Buy
04/06/18	CIMB	Wilmar	3.1	4.1	Add
04/30/18	UOB Kay Hian	Wilmar	3.26	4.1	Buy	Sum of parts, PER14x FY18
05/11/18	CIMB	Wilmar	3.21	4.1	Add	Sum of parts
05/11/18	UOB Kay Hian	Wilmar	3.21	4.1	Buy	Sum of parts, PER14x FY18
05/11/18	DMG & Partners	Wilmar	3.21	3.45	Buy
05/14/18	UOB Kay Hian	Wilmar	3.16	3.9	Buy	Sum of parts, PER14.5x FY18
05/14/18	DBS Vickers	Wilmar	3.16	3.65	Buy	DCF, PER14.4x FY18
05/14/18	OCBC	Wilmar	3.16	3.51	Buy
05/14/18	DMG & Partners	Wilmar	3.16	3.59	Buy	Sum of parts
06/05/18	DBS Vickers	Wilmar	3.28	3.65	Buy
06/21/18	UOB Kay Hian	Wilmar	3.12	3.9	Buy
06/27/18	OCBC	Wilmar	3.06	3.51	Buy	PER13x
07/03/18	UOB Kay Hian	Wilmar	3.04	3.9	Buy	PER14.5x FY18
07/03/18	DBS Vickers	Wilmar	3.04	3.5	Buy	DCF
07/04/18	DMG & Partners	Wilmar	3.07	3.59	Buy	Sum of parts
08/02/18	DMG & Partners	Wilmar	3.15	3.51	Buy	Sum of parts
08/14/18	UOB Kay Hian	Wilmar	3.13	3.9	Buy	PER14.5x FY18
08/14/18	CIMB	Wilmar	3.13	4.1	Add	Sum of parts
08/15/18	DBS Vickers	Wilmar	3.25	3.61	Buy	DCF
08/15/18	DMG & Partners	Wilmar	3.25	3.69	Buy	Sum of parts
09/13/18	DBS Vickers	Wilmar	3.15	3.61	Buy
10/08/18	UOB Kay Hian	Wilmar	3.19	3.9	Buy	PER13.7x FY19
10/11/18	DBS Vickers	Wilmar	3.14	3.59	Buy	DCF
11/12/18	DMG & Partners	Wilmar	3.15	3.69	Buy	Sum of parts
11/13/18	CIMB	Wilmar	3.18	4.1	Add	Sum of parts
11/13/18	UOB Kay Hian	Wilmar	3.18	3.9	Buy	Sum of parts, PER13.7x FY19
11/15/18	DMG & Partners	Wilmar	3.19	3.59	Buy
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
11/28/18	Exotix Capital	Wilmar	3.16	2.29	Sell	PER10x
12/10/18	DMG & Partners	Wilmar	3.15	3.58	Buy	Sum of parts