New Launch - One Sophia For Sale!

New Launch - One Sophia For Sale!
Please click the advertisement for more information.

Search This Blog

Tuesday, March 5, 2019

Moya Asia - Stock calls


Date Analyst Company Last Target Call Valuation
01/24/18 DMG & Partners Moya Asia 0.098 0.17 Buy
02/09/18 DMG & Partners Moya Asia 0.091 0.17 Buy DCF
03/02/18 DMG & Partners Moya Asia 0.091 0.15 Buy DCF, PER15x FY18
04/09/18 DMG & Partners Moya Asia 0.099 0.15 Buy DCF
05/02/18 DMG & Partners Moya Asia 0.1 0.15 Buy DCF
06/05/18 DMG & Partners Moya Asia 0.087 0.14 Buy DCF
08/07/18 DMG & Partners Moya Asia 0.092 0.13 Buy DCF
09/26/18 DMG & Partners Moya Asia 0.083 0.13 Buy
11/05/18 DMG & Partners Moya Asia 0.07 0.11 Buy DCF
01/07/19 DMG & Partners Moya Asia 0.06 0.11 Buy
02/13/19 DMG & Partners Moya Asia 0.082 0.11 Buy DCF
03/05/19 DMG & Partners Moya Asia 0.077 0.11 Buy DCF

MM2 Asia - Stock calls


Date Analyst Company Last Target Call Valuation
01/05/18 DBS Vickers MM2 Asia 0.545 0.73 Buy
02/07/18 CIMB MM2 Asia 0.49 0.76 Add
02/08/18 DBS Vickers MM2 Asia 0.495 0.75 Buy Sum of parts
03/05/18 CIMB MM2 Asia 0.47 0.76 Add
03/15/18 CIMB MM2 Asia 0.505 0.74 Add Sum of parts
04/06/18 CIMB MM2 Asia 0.49 0.74 Add
04/23/18 Kim Eng MM2 Asia 0.495 0.56 Buy
05/30/18 DBS Vickers MM2 Asia 0.495 0.7 Buy Sum of parts
06/05/18 CIMB MM2 Asia 0.485 0.72 Add Sum of parts
08/15/18 DBS Vickers MM2 Asia 0.42 0.62 Buy Sum of parts
08/16/18 CIMB MM2 Asia 0.42 0.72 Add Sum of parts
08/20/18 Kim Eng MM2 Asia 0.42 0.57 Buy PEG
09/14/18 CIMB MM2 Asia 0.365 0.72 Add
11/15/18 DBS Vickers MM2 Asia 0.37 0.5 Buy Sum of parts, PER16x FY19
11/19/18 Kim Eng MM2 Asia 0.35 0.57 Buy PEG1x
11/20/18 CIMB MM2 Asia 0.345 0.5 Add Sum of parts
02/14/19 DBS Vickers MM2 Asia 0.3 0.33 Hold Sum of parts
02/21/19 CIMB MM2 Asia 0.3 0.37 Add Sum of parts
02/21/19 Kim Eng MM2 Asia 0.3 0.34 Buy PEG0.93x

MIT - Stock calls


Date Analyst Company Last Target Call Valuation
01/03/18 Lim & Tan MIT 0.26 0 Buy
07/19/18 Lim & Tan MIT 0.33 0.456 Buy

Stock calls for 5 March 2019


Date Analyst Company Last Target Call Valuation
03/05/19 DMG & Partners Amara 0.46 0.88 Buy RNAV (35% discount)
03/05/19 OCBC ART 1.14 1.25 Buy
03/05/19 phillip China Aviation Oil 1.3 1.67 Buy PER11.5x FY19
03/05/19 Amfrasers CSE Global 0.505 0.58 Buy
03/05/19 CIMB First Resources 1.7 2.12 Add
03/05/19 UOB Kay Hian Japfa 0.705 0.98 Buy Sum of parts, PER10.7x FY19
03/05/19 DBS Vickers Japfa 0.705 0.8 Buy
03/05/19 DMG & Partners Moya Asia 0.077 0.11 Buy DCF
03/05/19 Amfrasers Sheng Siong 1.09 1.24 Buy
03/05/19 CIMB Sunningdale 1.4 1.38 Reduce PB0.69x FY19

India pays a high price to get cozy with the USA.

https://sg.finance.yahoo.com/news/trump-says-plans-end-indias-preferential-trade-treatment-000258315--finance.html

This is not the first time that the USA backstabbed India and it won't be the last.

http://sg-stock.blogspot.com/2018/03/india-has-to-pay-much-higher-price-to.html

Let's see how much the India will tolerate before it realizes the USA is a non-trustworthy partner.

China ups its ante against Canada.

https://sg.finance.yahoo.com/news/china-blocks-canola-shipments-canadas-richardson-customs-document-071841479--finance.html

Let's get the record straight in the first place.

Huawei Cfo was arrested in Canada during transit to Mexico.  She was accused of infringing USA's sanction against Iran via banking fraud.  However, the USA sanction is not a UN sanction.

First of all, if the banking fraud did occur, it happened in HK HSBC bank.  Therefore, Huawei Cfo contravened HK banking rules but not US banking rules.  Furthermore, Huawei Cfo is not an American citizen and does not possess a US green card. Thus, she cannot and shouldn't be subjected to US laws in another country.

Huawei Cfo's arrest is no doubt a political issue and never a legal issue.  The US is just abusing its might against a weaker country.

Therefore, I support China this time!

Monday, March 4, 2019

Mindchamps - Stock calls


Date Analyst Company Last Target Call Valuation
04/05/18 Amfrasers Mindchamps 0.74 0.86 Buy DCF, PER23.2x FY18
04/23/18 DMG & Partners Mindchamps 0.815 0.95 Buy EV/Ebitda19x & DCF
04/27/18 DMG & Partners Mindchamps 0.815 1 Buy EV/Ebitda19x & DCF
05/09/18 DMG & Partners Mindchamps 0.795 1 Buy EV/Ebitda19x & DCF
05/15/18 Amfrasers Mindchamps 0.78 0.86 Buy PER23.2x FY18
08/07/18 DMG & Partners Mindchamps 0.67 1 Buy
08/14/18 Amfrasers Mindchamps 0.705 0.86 Buy DCF, PER22.6x FY18
08/21/18 DMG & Partners Mindchamps 0.7 0.94 Buy
10/11/18 DMG & Partners Mindchamps 0.62 0.94 Buy
11/12/18 DMG & Partners Mindchamps 0.625 0.87 Buy DCF & EV/Ebitda17x FY19

Micro-Mechanics - Stock calls


Date Analyst Company Last Target Call Valuation
01/31/18 Phillip Micro-Mechanics 2.35 2.5 Accumulate
05/02/18 Phillip Micro-Mechanics 1.82 2.3 Buy PER17x FY18
07/16/18 Phillip Micro-Mechanics 1.82 2.3 Buy
08/29/18 Phillip Micro-Mechanics 1.83 2.3 Buy PER17x
11/01/18 Phillip Micro-Mechanics 1.8 2.05 Buy PER16x FY19
01/30/19 Phillip Micro-Mechanics 1.67 1.7 Accumulate PER15x FY19

Metro - Stock calls


Date Analyst Company Last Target Call Valuation
05/25/18 Lim & Tan Metro 1.17 0 Hold

Stock calls for 4 March 2019


Date Analyst Company Last Target Call Valuation
03/04/19 phillip China Sunsine 1.26 1.55 Buy FCFE
03/04/19 Kim Eng Comfortdelgro 2.43 2.45 Hold DCF
03/04/19 DMG & Partners Dairy Farm 8.57 8.64 Neutral DCF
03/04/19 DBS Vickers Dairy Farm 8.57 8.44 Hold Sum of parts
03/04/19 phillip DBS 25.08 29 Buy
03/04/19 phillip EC World Reit 0.76 0.85 Buy DDM, PB0.84x FY19
03/04/19 DMG & Partners First Resources 1.72 1.6 Neutral PER13x FY19
03/04/19 DBS Vickers First Resources 1.72 1.97 Buy
03/04/19 DMG & Partners Food Empire 0.58 0.69 Buy
03/04/19 DMG & Partners GSS Energy 0.112 0.17 Buy DCF
03/04/19 Lim & Tan Nera Telecom 0.285 0 Buy
03/04/19 phillip OCBC 11.1 13.7 Buy
03/04/19 Lim & Tan Pacific Century 0.385 0 Buy
03/04/19 phillip Sheng Siong 1.09 1.3 Accumulate PER25x
03/04/19 phillip UOB 25 32.5 Buy
03/04/19 OCBC Yangzijiang 1.44 1.44 Hold
03/04/19 UOB Kay Hian Yangzijiang 1.44 1.39 Hold Buy @ $1.25
03/04/19 DBS Vickers Yangzijiang 1.44 1.82 buy Sum of parts, PB1.1x

Newscasters will face retrenchments soon!

https://www.channelnewsasia.com/news/technology/china-xinhua-ai-robot-lifelike-female-news-anchor-11307696

The news broadcasting industry is being disrupted by AI robots now and China is the first to use AI robot for news broadcasts.

USA is gearing up for USD depreciation. - Part 2

https://sg.news.yahoo.com/trump-says-strong-dollar-hurting-u-competitiveness-184008692--business.html

Trump has stated publicly that he wants USD to depreciate.

We had already anticipated this USD depreciation in our previous post below.  We've nailed it!

https://sg-stock.blogspot.com/2019/02/usa-is-gearing-up-for-usd-depreciation.html

CNY vs HKD has an anomaly today.

HKD vs CNY

CNY vs HKD
The charts above show some anomaly which denotes an intervention in the FX market for HKD/CNY.  Maybe the China Central Bank is trying to remove the arbitrage opportunity by manipulating the currency.

http://sg-stock.blogspot.com/2019/03/hong-kong-dollar-has-been-depreciating.html

Hong Kong Dollar has been depreciating! Why?

The HKD is depreciating and is approaching the limit of HKD$7.85 (intervention level).  This is stressing the HKMA to up its interest rates to stabilize the HKD and prevent capital outflow.

The one-month Hibor-Libor spread is widening to 151 basis points and also giving HKMA the stress to up its interest rates because HKD is pegged to USD.  This causes HKD to depreciate unless HKMA ups its interest rates.  However, the dovish FED stance is giving HKMA some breathing space not to hike its interest rates because the HK interest rates will affect the property sector tremendously.

The 1-month HKD Hibor is at 1.33% and the 1-month CNY Hibor is at 2.72% (see chart below).  This creates a huge arbitrage opportunity for investors to sell HKD for CNY to net a risk-free return of 1.39%.  How cool is that?  This is the primary reason for HKD depreciation.


Saturday, March 2, 2019

Baltic dry index - 658

Today, Thursday, February 28 2019, the Baltic Dry Index climbed by 7 points, reaching 658 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 stock: Sembcorp Marine, Cosco & Pan ocean

US rig count - 1038

The rig count in the Permian Basin fell by seven this week, the latest count Friday by Baker Hughes shows, with 466 rigs active in the region. A year ago, 434 rigs were active in the region.
Nationally, the oil and gas rig count is down nine from last week at 1,038 rigs. A year ago, 981 rigs were active. The count shows that 843 rigs sought oil, down ten from the previous week, and 195 explored for natural gas, up one from the previous week.

The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404.
========================
Related stock: Keppel Corp, Sembcorp Marine & Cosco

Friday, March 1, 2019

What is the main determinant cause of Singapore success? Water?

https://sg.news.yahoo.com/mahathir-believes-singapore-rapidly-developed-030901104.html

Mahathir believes that the main determinant cause of Singapore success is water.

However, Malaysia has more water than Singapore.  How come Malaysia is not as successful as Singapore when it has more water resources?  The exchange rate for MY:SG should be 1:3, not 3:1 if Mahathir is right about SG's success.


Mermaid Maritime - Stock calls


Date Analyst Company Last Target Valuation
01/12/18 CIMB Mermaid Maritime 0.139 0.14 PB0.43x CY18
01/23/18 DBS Vickers Mermaid Maritime 0.155 0.14
03/01/18 CIMB Mermaid Maritime 0.152 0.16 PB0.48x CY18
03/13/18 DBS Vickers Mermaid Maritime 0.15 0.14 Sum of parts
05/18/18 DBS Vickers Mermaid Maritime 0.138 0.13 PB0.6x
08/17/18 DBS Vickers Mermaid Maritime 0.106 0.13 Sum of parts
08/20/18 CIMB Mermaid Maritime 0.106 0.13
11/15/18 DBS Vickers Mermaid Maritime 0.094 0.1 PB0.5x

Memtech - Stock calls


Date Analyst Company Last Target Valuation
01/10/18 CIMB Memtech 1.15 1.33 PER10x FY19
01/24/18 CLSA Memtech 1.28 2 PEG0.45x, PER15x CY18
02/09/18 UOB Kay Hian Memtech 1.29 1.43 PER11.6x FY18
03/05/18 Lim & Tan Memtech 1.52 0
03/07/18 CIMB Memtech 1.54 1.76 PER12x FY19
04/06/18 UOB Kay Hian Memtech 1.58 1.5 PER12x FY18, Buy @ $1.35
04/26/18 Lim & Tan Memtech 1.37 0
04/27/18 CIMB Memtech 1.29 1.47 PER10x FY19
04/27/18 UOB Kay Hian Memtech 1.29 1.32 PER10.6x FY18, Buy @ $1.18
06/26/18 CIMB Memtech 1.13 1.47
08/14/18 CIMB Memtech 1.12 1.43 PER10x FY19
08/14/18 UOB Kay Hian Memtech 1.12 1.08
10/12/18 UOB Kay Hian Memtech 0.85 0.95 PER9.8x FY18, Buy @ $0.75
11/09/18 CIMB Memtech 0.745 1.1 PER8x FY19
11/09/18 Lim & Tan Memtech 0.745 0
11/27/18 UOB Kay Hian Memtech 0.79 0.91 PER9.8x FY18
12/24/18 Lim & Tan Memtech 0.8 0
02/28/19 Lim & Tan Memtech 1.03 0
02/28/19 CIMB Memtech 1.03 1.08 PER8.5x FY20
03/01/19 UOB Kay Hian Memtech 0.985 1.33 PER11x FY19

Megachem - Stock calls


Date Analyst Company Last Target Percent Valuation
04/30/18 NRA Megachem 0.385 0.51 32.47 DCF, PER14.7x FY18
06/26/18 SAC Megachem 0.32 0.5 56.25 PER14.9x FY19
08/17/18 NRA Megachem 0.32 0.51 59.38

Stock calls for 1 March 2019


Date Analyst Company Last Target Call Valuation
03/01/19 DMG & Partners APAC Realty 0.57 0.72 Buy DCF
03/01/19 DBS Vickers APAC Realty 0.57 0.7 Buy PER12x
03/01/19 Phillip APTV 0.13 0.14 Accumulate
03/01/19 DMG & Partners China Aviation Oil 1.37 1.5 Neutral
03/01/19 DBS Vickers China Aviation Oil 1.37 1.85 Buy PER12x FY19
03/01/19 UOB Kay Hian China Aviation Oil 1.37 1.25 Hold PER8.4x FY19
03/01/19 phillip CNMC 0.225 0.31 Buy DCF
03/01/19 DMG & Partners Delfi 1.45 1.68 Buy DCF
03/01/19 Kim Eng First Resources 1.71 2.03 Buy PER17x
03/01/19 OCBC Frasers Centrepoint Trust 2.29 2.5 Buy
03/01/19 DBS Vickers Frasers Centrepoint Trust 2.29 2.4 Buy DCF
03/01/19 CIMB Golden Agri 0.275 0.23 Reduce Sum of parts (10% discount)
03/01/19 OCBC Golden Agri 0.275 0.27 Hold
03/01/19 DBS Vickers Hongkong Land 6.77 8.02 Buy
03/01/19 Kim Eng IHH Healthcare 1.85 2.29 Buy Sum of parts, Ringgit $6.90 target
03/01/19 DBS Vickers Indofood Agri 0.2 0.19 Hold
03/01/19 CIMB Japfa 0.765 0.9 Add Sum of parts
03/01/19 UOB Kay Hian Memtech 0.985 1.33 Buy PER11x FY19
03/01/19 CIMB Silverlake 0.57 0.62 Add Sum of parts, PER19x CY20
03/01/19 UOB Kay Hian Sunningdale 1.56 1.3 Hold PER11x FY19, Buy @ $1.20
03/01/19 Lim & Tan Sunningdale 1.56 0 Hold
03/01/19 UOB Kay Hian Sunpower 0.585 0.88 Buy Sum of parts
03/01/19 CIMB Yangzijiang 1.43 1.61 Add Sum of parts
03/01/19 OCBC Yanlord 1.39 1.75 Buy PER5x
03/01/19 CIMB Yongnam 0.173 0.33 Add PB0.7x FY19

Mahathir is bashing Singapore again!

https://sg.news.yahoo.com/speak-against-singapore-water-agreement-102137041.html

How many times must we say this?

The water agreement is not a simple commercial agreement.  It was part of the separation agreement for MY-SG and was lodged with the UN.  Therefore, nobody can just change the water pact.

Under the water pact, Johor (JB) doesn't need to buy back the processed water but it is buying the full maximum quantity allowed by the water pact? Why? Why? Why?

This is because JB knows that SG is selling the processed water at a huge loss to JB.

Hot news! NTUC, Sheng Siong and Prime have signed 3-year contracts with Kaohsiung Mayor.

Kaohsiung mayor Han has just visited Singapore to promote Kaohsiung farm and fishery products.

He has just signed a 3-year contract with 3 supermarkets such as NTUC, Sheng Siong and Prime.  This guy is a potential Taiwan presidential candidate in 2020.  If he becomes the Taiwan president in 2020, Taiwan and Singapore relationship will get much closer.


http://sg-stock.blogspot.com/2019/01/hot-news-ntuc-fairprice-will-sign-3.html

Thursday, February 28, 2019

MDR - Stock calls


Date Analyst Company Last Target Call Valuation
04/24/18 NRA MDR 0.003 0.474 Unrated Mid-point of $0.366-0.582

Mapletree North Asia - Stock calls


Date Analyst Company Last Target Call Valuation
01/29/18 OCBC Mapletree North Asia 1.27 1.39 Buy
01/29/18 CIMB Mapletree North Asia 1.27 1.26 Hold DDM
01/29/18 DBS Vickers Mapletree North Asia 1.27 1.4 Buy
03/28/18 Lim & Tan Mapletree North Asia 1.18 0 Buy on weakness
03/29/18 CIMB Mapletree North Asia 1.15 1.3 Add DDM
04/26/18 OCBC Mapletree North Asia 1.13 1.39 Buy
04/27/18 OCBC Mapletree North Asia 1.15 1.42 Buy DDM
04/27/18 CIMB Mapletree North Asia 1.15 1.3 Add DDM
05/23/18 OCBC Mapletree North Asia 1.16 1.42 Buy
06/26/18 DBS Vickers Mapletree North Asia 1.13 1.45 Buy DCF
07/31/18 OCBC Mapletree North Asia 1.15 1.42 Buy
08/01/18 CIMB Mapletree North Asia 1.15 1.3 Add DDM
08/01/18 DBS Vickers Mapletree North Asia 1.15 1.45 Buy
09/04/18 OCBC Mapletree North Asia 1.15 1.42 Buy
10/01/18 DBS Vickers Mapletree North Asia 1.14 1.45 Buy DCF
10/29/18 OCBC Mapletree North Asia 1.13 1.34 Buy
10/30/18 CIMB Mapletree North Asia 1.13 1.28 Add DDM
12/03/18 OCBC Mapletree North Asia 1.13 1.34 Buy
01/29/19 OCBC Mapletree North Asia 1.25 1.35 Buy
01/29/19 DBS Vickers Mapletree North Asia 1.25 1.45 Buy
02/09/19 DBS Vickers Mapletree North Asia 1.25 1.45 Buy

Mapletree Logistics - Stock calls


Date Analyst Company Last Target Call Valuation
01/09/18 DBS Vickers Mapletree Logistics 1.36 1.38 Buy
01/10/18 Lim & Tan Mapletree Logistics 1.35 0 Hold
01/23/18 UOB Kay Hian Mapletree Logistics 1.35 1.41 Hold DDM
01/23/18 OCBC Mapletree Logistics 1.35 1.35 Buy
01/23/18 Deutsche Mapletree Logistics 1.35 1.4 Buy
01/24/18 CIMB Mapletree Logistics 1.38 1.43 Add DDM
01/24/18 Credit Suisse Mapletree Logistics 1.38 1.18 Neutral
01/24/18 OCBC Mapletree Logistics 1.38 1.48 Buy
01/24/18 DBS Vickers Mapletree Logistics 1.38 1.45 Buy
02/14/18 Deutsche Mapletree Logistics 1.23 1.35 Buy
02/20/18 DBS Vickers Mapletree Logistics 1.25 1.45 Buy
03/06/18 OCBC Mapletree Logistics 1.2 1.48 Buy
04/16/18 Kim Eng Mapletree Logistics 1.27 1.25 Hold
04/27/18 UOB Kay Hian Mapletree Logistics 1.26 1.41 Hold
04/27/18 OCBC Mapletree Logistics 1.26 1.48 Buy
04/30/18 OCBC Mapletree Logistics 1.27 1.44 Buy
04/30/18 Kim Eng Mapletree Logistics 1.27 1.25 Hold DDM
05/02/18 CIMB Mapletree Logistics 1.27 1.39 Add DDM
06/21/18 OCBC Mapletree Logistics 1.22 1.34 Buy
06/26/18 DBS Vickers Mapletree Logistics 1.22 1.48 Buy
07/06/18 Kim Eng Mapletree Logistics 1.23 1.25 Hold
07/06/18 DBS Vickers Mapletree Logistics 1.23 1.48 Buy
07/24/18 OCBC Mapletree Logistics 1.28 1.34 Buy
07/25/18 CIMB Mapletree Logistics 1.29 1.39 Add DDM
07/25/18 UOB Kay Hian Mapletree Logistics 1.29 1.36 Hold
07/25/18 DBS Vickers Mapletree Logistics 1.29 1.53 Buy
08/24/18 DBS Vickers Mapletree Logistics 1.25 1.53 Buy
09/20/18 OCBC Mapletree Logistics 1.26 1.34 Buy
09/25/18 Deutsche Mapletree Logistics 1.26 1.4 Buy
10/01/18 DBS Vickers Mapletree Logistics 1.23 1.5 Buy
10/09/18 OCBC Mapletree Logistics 1.22 1.37 Buy
10/23/18 Lim & Tan Mapletree Logistics 1.23 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
11/05/18 DBS Vickers Mapletree Logistics 1.21 1.5 Buy
12/07/18 DBS Vickers Mapletree Logistics 1.28 1.5 Buy
01/02/19 CIMB Mapletree Logistics 1.26 1.42 Add DDM
01/11/19 UOB Kay Hian Mapletree Logistics 1.33 1.39 Hold DDM, Buy @ $1.26
01/22/19 OCBC Mapletree Logistics 1.34 1.4 Buy
01/23/19 DBS Vickers Mapletree Logistics 1.34 1.5 Buy
01/23/19 Kim Eng Mapletree Logistics 1.34 1.3 Hold DDM
02/08/19 DBS Vickers Mapletree Logistics 1.39 1.5 Buy
01/23/19 CIMB Mapletree Logistics 1.34 1.44 Add DDM
02/28/19 Kim Eng Mapletree Logistics 1.39 1.3 Hold