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Tuesday, February 19, 2019

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
01/04/19 DBS Vickers Jardine C&C 35.28 43.1 Buy

Stock calls for 19 February 2019


Date Analyst Company Last Target Call Valuation
02/19/19 Amfrasers Accordia Golf Trust 0.565 0.61 Buy
02/19/19 Amfrasers Comfortdelgro 2.41 2.77 Buy PER19x FY19
02/19/19 Jefferies DBS 25.2 28.5 Buy
02/19/19 OCBC DBS 25.2 29.31 Buy
02/19/19 DMG & Partners DBS 25.2 28.8 Buy GGM, PB1.5x FY19
02/19/19 phillip DBS 25.2 29 Buy GGM, PB1.5x FY19
02/19/19 Kim Eng DBS 25.2 29.56 Buy DDM
02/19/19 CIMB DBS 25.2 29 Add GGM
02/19/19 UOB Kay Hian DBS 25.2 28.4 Buy
02/19/19 Amfrasers DISA 0.003 0 Cease Coverage
02/19/19 OCBC Mapletree Industrial 1.99 1.98 Hold
02/19/19 CIMB Starhub 1.61 2 Hold DCF
02/19/19 Phillip Thai Beverage 0.82 0.81 Neutral Sum of parts
02/19/19 Amfrasers Thai Beverage 0.82 0.75 Hold

New Zealand is backpedaling on Huawei ban.

https://sg.finance.yahoo.com/news/zealand-leader-says-no-final-032231741.html

After seeing what the UK did, NZ is also backpedaling on Huawei ban.

https://sg-stock.blogspot.com/2019/02/uk-will-continue-to-use-huawei-5g.html

Look like NZ is smarter than the Aussie. Hahaha!

http://sg-stock.blogspot.com/2019/02/australia-is-suffering-backlash-from.html

Australia is suffering a backlash from China.

https://finance.yahoo.com/news/chinese-traders-cut-australian-coal-121834785.html

Australia really deserves this because it wants to earn China's money but also wants to be anti-China.

This is just a normal reaction from China.  We will also react in this way when someone wants to sell us something but also badmouth us at the same time.

Australia's economy will suffer a lot if it cannot export to China since China is the largest trading partner.  The property sector is already suffering tremendously right now.

http://sg-stock.blogspot.com/2017/12/australia-china-political-skirmish.html

Monday, February 18, 2019

Japfa - Stock calls


Date Analyst Company Last Target Call Valuation
06/22/18 Kim Eng Japfa 0.625 0.86 Buy Sum of parts, PER14x FY18
08/01/18 Kim Eng Japfa 0.745 0.86 Buy Sum of parts
09/11/18 CIMB Japfa 0.595 0.8 Add Sum of parts
10/17/18 UOB Kay Hian Japfa 0.61 0.9 Buy Sum of parts, PER12.2x FY18
10/25/18 DBS Vickers Japfa 0.63 0.86 Buy Sum of parts (10% discount), PER12.2x FY19
10/31/18 UOB Kay Hian Japfa 0.69 0.98 Buy Sum of parts, PER12.2x FY18
11/01/18 CIMB Japfa 0.665 0.8 Add Sum of parts
11/02/18 DBS Vickers Japfa 0.68 0.89 Buy Sum of parts (15% discount), PER12.6x FY19
11/08/18 UOB Kay Hian Japfa 0.715 0.98 Buy
12/10/18 UOB Kay Hian Japfa 0.755 0.98 Buy
12/12/18 Kim Eng Japfa 0.735 0.99 Buy Sum of parts
01/29/19 CIMB Japfa 0.82 0.9 Add Sum of parts
01/30/19 Kim Eng Japfa 0.81 0.99 Buy

Japan Foods - Stock calls


Date Analyst Company Last Target Call Valuation
02/14/18 Amfrasers Japan Foods 0.46 0.54 Buy DCF
05/07/18 DMG & Partners Japan Foods 0.505 0.63 Buy DCF, PER19x FY19
05/22/18 Amfrasers Japan Foods 0.485 0.64 Buy DCF
06/22/18 DMG & Partners Japan Foods 0.5 0.63 Buy
08/08/18 DMG & Partners Japan Foods 0.49 0.58 Buy Sum of parts, PER16.6x FY19
08/21/18 Amfrasers Japan Foods 0.5 0.64 Buy DCF
11/09/18 DMG & Partners Japan Foods 0.455 0.48 Neutral
11/13/18 Amfrasers Japan Foods 0.455 0.56 Hold DCF
12/10/18 DMG & Partners Japan Foods 0.455 0.48 Neutral
02/12/19 Amfrasers Japan Foods 0.415 0.57 Hold DCF

Jadason - Stock calls


Date Analyst Company Last Target Call Valuation
03/01/18 DMG & Partners Jadason 0.073 0.08 Neutral DCF
03/07/18 CIMB Jadason 0.07 0.08 Add PER12.34x FY19
05/16/18 CIMB Jadason 0.05 0.077 Add PB1x CY18
05/18/18 DMG & Partners Jadason 0.05 0.05 Neutral DCF
06/27/18 DMG & Partners Jadason 0.04 0.05 Neutral
08/17/18 CIMB Jadason 0.037 0.073 Add PB1x CY18
11/15/18 CIMB Jadason 0.03 0.073 Add PB1x FY18

Stock calls for 18 February 2019


Date Analyst Company Last Target Call Valuation
02/18/19 DMG & Partners DBS 24.74 29.8 Buy
02/18/19 Lim & Tan DBS 24.74 0 Buy
02/18/19 DMG & Partners ISOTeam 0.22 0.23 Neutral DCF
02/18/19 UOB Kay Hian Jumbo 0.415 0.41 Hold
02/18/19 OCBC Netlink 0.805 0.9 Buy
02/18/19 Kim Eng SIA 9.76 11.2 Buy PB0.94x
02/18/19 UOB Kay Hian SIA 9.76 10.2 Hold
02/18/19 OCBC SIA 9.76 10.71 Buy
02/18/19 Phillip Singtel 2.99 3.27 Accumulate Sum of parts
02/18/19 CIMB Singtel 2.99 3.4 Add Sum of parts
02/18/19 Phillip Starhub 1.67 1.58 Neutral EV/Ebitda
02/18/19 Kim Eng Starhub 1.67 2.18 Buy DCF
02/18/19 UOB Kay Hian Starhub 1.67 1.45 Sell
02/18/19 UOB Kay Hian Thai Beverage 0.815 0.86 Hold Sum of parts
02/18/19 DMG & Partners Thai Beverage 0.815 0.92 Buy Sum of parts
02/18/19 CIMB Thai Beverage 0.815 0.9 Add Sum of parts
02/18/19 OCBC Thai Beverage 0.815 0.91 Buy

Singapore Nodx fell 10.1% in January 2019

https://www.channelnewsasia.com/news/singapore/singapore-january-exports-down-10-1-biggest-drop-in-2-years-11252056

Year on year changes (YOY):
January 2019: -10.1%
December 2018: -8.5%
November 2018: -2.6%
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%

http://sg-stock.blogspot.com/2019/01/singapore-nodx-fell-85-in-december-2018.html

UK will continue to use Huawei 5G equipment.

https://sg.finance.yahoo.com/news/uk-concludes-mitigate-risk-huawei-equipment-5g-ft-031519448--finance.html

The UK has realized that there is no better telecom equipment than Huawei's equipment and will continue to use Huawei.

It has dawned on the UK that the US is not a credible and trustworthy ally because the US will target the UK next after China.

http://sg-stock.blogspot.com/2019/02/trump-has-just-named-next-target-after.html

Well, late awakening is better than never.

Saturday, February 16, 2019

Trump has just named the next target after China.

https://www.channelnewsasia.com/news/business/trump-says-trade-with-britain-to-increase-substantially-post-11248866

The UK without EU is just a lonely boy that Trump can bully.  Trump has just announced that the US trade with the UK would increase substantially.  In other words, Trump will force the UK to import more US goods.

Good luck to UK!

Baltic dry index - 639

Today, Friday, February 15 2019, the Baltic Dry Index climbed by 11 points, reaching 639 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.
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Related Stock: Sembcorp Marine, Cosco & Pan ocean

US rig count - 1051

The United States added three oil rigs and dropped one gas rig for a net gain of two rigs this week, according to weekly data from Baker Hughes, a GE Company.
The activity puts the nation’s weekly rig count total at 1,051 – higher than 975 count one year ago.
Louisiana saw the largest gain this week, with the addition of four rigs. Wyoming added three rigs while Alaska, California and Virginia added one rig each.
The following states saw rig declines this week: Pennsylvania (-3), Texas (-2), New Mexico (-2), North Dakota (-1) and Oklahoma (-1).
Among the major basins, the Permian dropped a total of five rigs this week bringing the total to 473, but still accounting for more than half of the nation’s oil rigs.
Earlier this week, the U.S. Energy Information Administration (EIA) forecasted that the nation’s crude oil production would average 12.4 million barrels per day in 2019 and 13.2 million barrels per day in 2020. The EIA projects the bulk of the production growth will come from the Permian.
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Related Stock: Keppel Corp, Sembcorp Marine & Cosco

Friday, February 15, 2019

USD is likely to depreciate soon. Why?

The chart above is the current USD dollar index.  It looks like USD has reached or is reaching its 1-year peak.

The chart above is the Saint Louis FED trade-weighted USD index.  It looks like the trade-weighted index has reached its peak and is developing a double top pattern (bearish signal).

Furthermore, the US has accumulated more than US$22T of national debt now.  The US has to resolve this debt conundrum or else its economy will collapse.  How is the US going to solve its debt problem?

Well, the easiest way out is to let inflation deflate the debt pressure.  However, the US CPI is not showing any inflation recently.  Therefore, the US must depreciate its USD to create inflation to reduce the colossal debt pressure.



ISOTeam - Stock calls


Date Analyst Company Last Target Call Valuation
02/13/18 UOB Kay Hian ISOTeam 0.355 0.45 Buy PER10.4x FY18
02/15/18 DMG & Partners ISOTeam 0.33 0.46 Buy DCF, PER13x FY18
05/17/18 DMG & Partners ISOTeam 0.35 0.42 Buy DCF
06/27/18 DMG & Partners ISOTeam 0.335 0.42 Buy

ISDN - Stock calls


Date Analyst Company Last Target Call Valuation
02/20/18 NRA ISDN 0.22 0.32 Overweight PER12.5x FY18
02/20/18 UOB Kay Hian ISDN 0.22 0.35 Buy
02/20/18 Lim & Tan ISDN 0.22 0 Trading Buy
02/28/18 Lim & Tan ISDN 0.23 0 Take Profit
05/15/18 UOB Kay Hian ISDN 0.21 0.365 Buy
08/13/18 NRA ISDN 0.215 0.32 Overweight PER7.3x FY18

Interra Resources - Stock calls


Date Analyst Company Last Target Call Valuation
12/20/18 SAC Advisors Interra Resources 0.034 0.089 Buy

Stock calls for 15 February 2019


Date Analyst Company Last Target Call Valuation
02/15/19 Phillip A-Reit 2.75 2.88 Accumulate
02/15/19 phillip Cache Logistics 0.71 0.75 Neutral
02/15/19 Phillip CapitaCommercial 1.86 1.93 Accumulate
02/15/19 Phillip Capitamall Trust 2.38 2.09 Neutral
02/15/19 Phillip CapitaRetail China 1.39 1.66 Accumulate
02/15/19 phillip Dasin Retail 0.885 0.95 Accumulate
02/15/19 phillip EC World Reit 0.745 0.82 Buy
02/15/19 Phillip Frasers Centrepoint Trust 2.24 2.21 Neutral
02/15/19 DMG & Partners Genting 1.1 1.23 Buy DCF
02/15/19 DBS Vickers Jumbo 0.415 0.44 Hold PER23x FY19
02/15/19 CIMB Jumbo 0.415 0.52 Add PER21x FY20
02/15/19 Phillip Keppel DC Reit 1.45 1.52 Accumulate
02/15/19 OCBC KSH 0.52 0.81 Buy
02/15/19 Phillip Mapletree Industrial 1.99 2.03 Neutral
02/15/19 UOB Kay Hian Netlink 0.805 0.92 Buy DCF
02/15/19 Citi Research SATS 5.08 6 Buy
02/15/19 CIMB SIA 9.87 10.25 Hold
02/15/19 DBS Vickers SIA 9.87 11 Buy PB0.9x FY20
02/15/19 Lim & Tan SIA 9.87 0 Hold
02/15/19 DBS Vickers Silverlake 0.515 0.62 Buy PER21x FY19
02/15/19 OCBC Singtel 3.03 3.79 Buy
02/15/19 DMG & Partners Singtel 3.03 3.22 Neutral Sum of parts
02/15/19 OCBC Starhub 1.9 1.64 Sell
02/15/19 DMG & Partners Starhub 1.9 2.02 Neutral DCF
02/15/19 DBS Vickers Starhub 1.9 1.92 Hold DCF
02/15/19 Lim & Tan Starhub 1.9 0 Sell
02/15/19 DBS Vickers Thai Beverage 0.72 0.87 Buy
02/15/19 UOB Kay Hian Valuetronics 0.71 0.87 Buy

Thursday, February 14, 2019

Germany almost got into a recession.

https://sg.finance.yahoo.com/news/german-economy-stalled-fourth-quarter-just-escaping-recession-071949553--finance.html

Germany will enter a recession soon if the US-China trade war continues unabatedly.  We've been warning about this previously.

http://sg-stock.blogspot.com/2019/02/our-prediction-for-eu-is-coming-to.html

UK economy will perform badly this year!

https://sg.finance.yahoo.com/news/china-cancels-trade-talks-uk-protest-over-defence-091441063--business.html

The UK economy will perform badly this year because of Brexit and the absence of the UK-China trade deal.  Without a China trade deal, the UK will suffer tremendously because EU is not growing.

Indofood Agri - Stock calls


Date Analyst Company Last Target Call Valuation
01/15/18 DBS Vickers Indofood Agri 0.405 0.48 Hold
03/02/18 DBS Vickers Indofood Agri 0.34 0.36 Hold DCF
04/13/18 DBS Vickers Indofood Agri 0.325 0.36 Hold
05/02/18 DBS Vickers Indofood Agri 0.32 0.36 Hold DCF
08/03/18 DBS Vickers Indofood Agri 0.225 0.21 Hold DCF
09/13/18 DBS Vickers Indofood Agri 0.183 0.21 Hold
10/11/18 DBS Vickers Indofood Agri 0.215 0.21 Hold DCF
11/01/18 DBS Vickers Indofood Agri 0.2 0.19 Hold DCF

IHH Healthcare - Stock calls


Date Analyst Company Last Target Call Valuation
02/28/18 DMG & Partners IHH Healthcare 2.05 2.36 Buy DCF/SOP-based Ringgit $7 target price
03/20/18 DBS Vickers IHH Healthcare 2.02 2.29 Buy Sum of parts, Ringgit $6.81 target
03/23/18 MIDF IHH Healthcare 2.01 2.32 Buy Ringgit $6.91 target price
04/17/18 Kim Eng IHH Healthcare 2.05 2.36 Buy Sum of parts, Ringgit $7 target price
04/17/18 UOB Kay Hian IHH Healthcare 2.05 2.31 Buy Ringgit $6.86
04/26/18 DBS Vickers IHH Healthcare 2.04 2.31 Buy Rinngit $6.81 target
05/28/18 DMG & Partners IHH Healthcare 2.08 2.36 Buy DCF & Sum of parts & EV/Ebitda 18x FY19,  Ringgit $7 target price
08/21/18 CIMB IHH Healthcare 1.84 2.29 Add Ringgit $6.86 target
08/21/18 DBS Vickers IHH Healthcare 1.84 2.14 Buy Ringgit $6.35 target price
08/29/18 CIMB IHH Healthcare 1.85 2.2 Add Sum of parts, Ringgit $6.63 target
10/10/18 DBS Vickers IHH Healthcare 1.81 2.11 Buy Ringgit $6.35 target price
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
11/30/18 CIMB IHH Healthcare 1.8 2.1 Add Sum of parts, Ringgit $6.40 target price
01/17/19 Kim Eng IHH Healthcare 1.86 2.13 Buy Sum of parts, Ringgit $6.45 target price

IFS Capital - Stock calls


Date Analyst Company Last Target Call Valuation
10/17/18 Amfrasers IFS Capital 0.21 0.29 Buy PB0.7x FY18
01/15/19 Amfrasers IFS Capital 0.225 0.29 Buy PB0.7x FY18

Stock calls for 14 February 2019


Date Analyst Company Last Target Call Valuation
02/14/19 DMG & Partners Avi-Tech 0.29 0.3 Neutral DCF
02/14/19 phillip Comfortdelgro 2.38 2.72 Accumulate DCF, PER18.5x FY19
02/14/19 UOB Kay Hian Comfortdelgro 2.38 2.66 Buy
02/14/19 OCBC Comfortdelgro 2.38 2.38 Hold
02/14/19 DMG & Partners Comfortdelgro 2.38 2.65 Buy
02/14/19 DBS Vickers Comfortdelgro 2.38 2.57 Buy DCF & PER16x FY19
02/14/19 DBS Vickers Far East Hospitality 0.635 0.7 Buy DCF
02/14/19 CIMB Far East Hospitality 0.635 0.68 Add DDM
02/14/19 Kim Eng Far East Hospitality 0.635 0.75 Buy DDM
02/14/19 OCBC Far East Hospitality 0.635 0.68 Buy
02/14/19 CIMB Frasers Property 1.7 2.08 Add
02/14/19 DBS Vickers Frasers Property 1.7 1.98 Buy RNAV (35% discount)
02/14/19 phillip HMI 0.550 0.77 Buy DCF
02/14/19 DMG & Partners Kimly 0.245 0.24 Neutral DCF
02/14/19 DBS Vickers MM2 Asia 0.3 0.33 Hold Sum of parts
02/14/19 DBS Vickers Perennial Reit 0.645 0.83 Buy RNAV (55% discount)
02/14/19 phillip SATS 4.98 5.47 Accumulate DCF, PER24.6x FY19
02/14/19 OCBC SATS 4.98 5.23 Hold
02/14/19 CIMB SATS 4.98 5.46 Add PER20.3x
02/14/19 Lim & Tan SATS 4.98 0 Hold
02/14/19 DBS Vickers SATS 4.98 5.59 Buy
02/14/19 Kim Eng SATS 4.98 5.8 Buy
02/14/19 Kim Eng Valuetronics 0.74 1.05 Buy ROE-g/COE-g, PB2.1x FY20
02/14/19 DMG & Partners Valuetronics 0.74 0.78 Neutral DCF
02/14/19 CIMB Valuetronics 0.74 0.73 Hold PER8.5x CY19
02/14/19 OCBC Wing Tai 2.03 2.41 Buy

Who is more eager to conclude a trade deal? Trump or Xi?

https://sg.finance.yahoo.com/news/china-reports-january-exports-us-053525759.html

China reports January exports to US fall 2.4 percent from year earlier, imports of American goods sinks 41.2 percent.

The statistics clearly show that Trump will be more eager to conclude a trade deal than Xi as the US cannot wean itself off China goods because its citizens have limited savings.

US national debt hits US$22t now!

http://www.mainepublic.org/post/us-national-debt-hits-22-trillion-new-record-thats-predicted-fall

The US is not able to repay its debt but the music still plays on.

The day of reckoning will come one day.

China had a trade surplus of US$39.2B in January 2019,

https://www.reuters.com/article/global-markets/global-markets-asia-offers-muted-cheer-as-china-trade-beats-forecasts-idUSL3N20904E

https://www.scmp.com/economy/china-economy/article/2186084/chinas-exports-shot-dramatically-january-despite-us-china

The US-China trade war has caused US imports in China to fall by 41% in January.  This shows that the Chinese consumers are nationalistic and are boycotting the US products now especially the US consumer goods.

Wednesday, February 13, 2019

FBI raided Huawei lab recently.

https://sputniknews.com/us/201902051072129322-fbi-raided-huawei-lab-sting-operatin/

The US is adamant to destroy Huawei just like what it did to China ZTE.

Why?

This is because Huawei holds the most patents in 5G technology and the US cannot develop its own 5G without infringing on Huawei's patents.

http://sg-stock.blogspot.com/2019/01/the-real-reason-behind-ban-of-huaweis-5g.html

Ifast Corp - Stock calls


Date Analyst Company Last Target Call Valuation
02/15/18 DBS Vickers Ifast Corp 0.88 1.26 Buy DDM
04/30/18 DBS Vickers Ifast Corp 0.9 1.26 Buy DDM
07/30/18 DBS Vickers Ifast Corp 1.09 1.26 Buy DDM
10/30/18 DBS Vickers Ifast Corp 1.14 1.33 Buy DDM

Hutchison Port - Stock calls


Date Analyst Company Last Target Call Valuation
02/06/18 OCBC Hutchison Port 0.375 0.43 Buy
02/06/18 DBS Vickers Hutchison Port 0.375 0.39 Hold DCF, Buy @ $0.35
04/16/18 OCBC Hutchison Port 0.33 0.43 Buy
04/16/18 DBS Vickers Hutchison Port 0.33 0.38 Buy DCF
06/01/18 OCBC Hutchison Port 0.275 0.43 Buy
06/05/18 DBS Vickers Hutchison Port 0.28 0.38 Buy
06/07/18 OCBC Hutchison Port 0.305 0.375 Buy
07/03/18 UOB Kay Hian Hutchison Port 0.28 0.34 Not Rated
07/17/18 OCBC Hutchison Port 0.28 0.37 Buy
07/24/18 OCBC Hutchison Port 0.275 0.36 Buy
07/25/18 DBS Vickers Hutchison Port 0.27 0.28 Hold DCF
10/24/18 OCBC Hutchison Port 0.245 0.36 Buy
11/30/18 Lim & Tan Hutchison Port 0.26 0 Hold
02/13/19 OCBC Hutchison Port 0.26 0.22 Sell
02/13/19 DBS Vickers Hutchison Port 0.26 0.26 Hold DCF