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Thursday, March 21, 2019

SGX - Stock calls


Date Analyst Company Last Target Call Valuation
01/22/18 DMG & Partners SGX 7.98 9 Buy PER24x FY19
01/22/18 Kim Eng SGX 7.98 8.82 Buy PER23x FY19
01/22/18 DBS Vickers SGX 7.98 8.9 Buy DDM, PER21x FY19
01/22/18 OCBC SGX 7.98 8.16 Hold PER24x FY18
01/22/18 CIMB SGX 7.98 8.5 Add PER24x FY19
01/22/18 phillip SGX 7.98 9 Accumulate DCF
01/22/18 UBS SGX 7.98 8.7 Buy
01/22/18 Citibank SGX 7.98 8.88 Hold
02/07/18 CIMB SGX 7.88 8.5 Add PER24x FY19
02/07/18 DMG & Partners SGX 7.88 9 Buy PER24x FY19
02/07/18 OCBC SGX 7.88 8.16 Hold
02/07/18 Kim Eng SGX 7.88 8.82 Buy PER23x FY19
02/07/18 DBS Vickers SGX 7.88 8.9 Buy DDM, PER21x FY19
02/11/18 Citibank SGX 7.89 7.9 Hold
02/13/18 JP Morgan SGX 7.31 9 Overweight
02/13/18 Jefferies SGX 7.31 8 Buy
02/13/18 UBS SGX 7.31 8.7 Buy
02/13/18 CIMB SGX 7.31 7.85 Hold PER24x FY19
02/13/18 Goldman Sachs SGX 7.31 6.6 Sell
02/14/18 phillip SGX 7.3 8.89 Buy DCF
02/19/18 Jefferies SGX 7.37 8 Buy
02/20/18 DBS Vickers SGX 7.71 8.9 Buy DDM, PER21x FY19
03/08/18 Kim Eng SGX 7.44 8.73 Buy PER23x FY19
03/13/18 Amfrasers SGX 7.58 8.14 Buy
04/23/18 phillip SGX 7.56 9.2 Buy DCF
04/23/18 CIMB SGX 7.56 8.2 Add PER24x FY19
04/23/18 Lim & Tan SGX 7.56 0 Buy
04/23/18 OCBC SGX 7.56 8.22 Buy
04/23/18 DMG & Partners SGX 7.56 9 Buy PER24x FY19
05/23/18 Lim & Tan SGX 7.48 0 Buy on weakness
06/01/18 OCBC SGX 7.24 7.89 Buy PER23x
06/22/18 DMG & Partners SGX 7.25 9 Buy PER24x FY19
07/03/18 UOB Kay Hian SGX 7.14 8.14 Not Rated
07/18/18 Macquarie SGX 7.45 7.7 Neutral
07/25/18 DMG & Partners SGX 7.5 9 Buy PER24x FY19
07/30/18 OCBC SGX 7.58 8.32 Buy PER23x FY19
07/30/18 CIMB SGX 7.58 8.02 Add PER24x FY20
07/30/18 Lim & Tan SGX 7.58 0 Buy
07/31/18 phillip SGX 7.41 8.93 Buy DCF
08/05/18 Citibank SGX 7.36 7.7 Hold
09/04/18 DMG & Partners SGX 7.42 8.4 Buy PER23.4x FY19
10/16/18 Citibank SGX 6.83 7.1 Hold
10/22/18 phillip SGX 6.93 9.01 Buy PER25.2x
10/22/18 DMG & Partners SGX 6.93 8.4 Buy PER23x FY19
10/22/18 OCBC SGX 6.93 7.96 Buy PER22x F19/20
10/22/18 CIMB SGX 6.93 7.6 Add PER22.1x FY20
10/24/18 Macquarie SGX 7.05 7.7 Neutral
11/22/18 DMG & Partners SGX 7.21 8.4 Buy
11/27/18 DMG & Partners SGX 7.24 8.2 Buy PER22x FY20
01/04/19 phillip SGX 7.15 9.01 Buy
01/25/19 CIMB SGX 7.5 7.9 Add PER22.1x FY20
01/25/19 DMG & Partners SGX 7.5 8.2 Buy PER22x FY20
01/28/19 phillip SGX 7.57 8.36 Buy PER23.2x FY19
01/28/19 OCBC SGX 7.57 7.98 Buy PER22x F19/20
02/22/19 Citibank SGX 7.87 7.8 Hold
03/12/19 Citibank SGX 7.46 7 Sell
03/14/19 DBS Vickers SGX 7.26 7.05 Hold DDM, PER20x CY20
03/19/19 phillip SGX 7.31 8.17 Accumulate PER23.2x

Serial System - Stock calls


Date Analyst Company Last Target Call Valuation
05/22/18 Tayona Serial System 0.1666 0.24 Overweight DCF
08/17/18 Tayona Serial System 0.146 0.24 Overweight Sum of parts, PER11.2x FY18

Stock calls for 21 March 2019


Date Analyst Company Last Target Call Valuation
03/21/19 Lim & Tan Capitaland 3.47 0 Buy
03/21/19 Amfrasers CapitaRetail China 1.52 1.61 Buy DDM
03/21/19 Lim & Tan City Developments 9.02 0 Buy
03/21/19 Kim Eng Japfa 0.65 1.05 Buy Sum of parts
03/21/19 OCBC Shangri-La Asia 11.04 16.4 Buy
03/21/19 UOB Kay Hian Singtel 2.99 3.58 Buy DCF
03/21/19 DMG & Partners Starhill 0.705 0.78 Buy DDM
03/21/19 Kim Eng Valuetronics 0.685 1.05 Buy PB2.1x FY20

US FAA has lost its credibility.

https://sg.finance.yahoo.com/news/european-canadian-regulators-own-review-040547617.html

Europe and Canada will not recognize FAA certification anymore.

Europe and Canada will do their own review of Boeing jets from now instead of accepting the FAA certification.

I hope our CAAS will do the same and not accept the FAA certification for the safety of Singaporeans.

Boeing saga!

https://www.marketwatch.com/story/faa-on-sullenberger-criticisms-of-boeing-737-max-certification-process-consistently-produced-safe-aircraft-designs-2019-03-19

https://www.bloomberg.com/news/articles/2019-03-18/boeing-drops-as-role-in-vetting-its-own-jets-comes-under-fire-jtecyagp


Omg! US FAA outsources its certification to Boeing.  No wonder Boeing 737-Max was allowed to fly despite its defective design which needed an anti-stall software to correct its abnormal uplift.

Boeing 737-Max wings and engines were moved forward in its design and this forward movement caused the abnormal uplift.  The same anti-stall software is not installed in all Boeing planes.

Do not fly in Boeing 737-Max as the US government is hiding the truth! Boeing 737-Max is an unsafe airplane.

The semiconductor is facing a collapse. - Part 2

https://finance.yahoo.com/news/micron-reports-second-quarter-earnings-201323152.html

Micron has started to cut its production output and investment in anticipation of the semiconductor slowdown.

https://sg-stock.blogspot.com/2019/03/the-semiconductor-is-facing-collapse.html

Singapore is caught defying US sanction by trading in Iran oil

https://finance.yahoo.com/news/exclusive-iran-fuel-oil-exports-beat-u-sanctions-063832574--sector.html

Hahaha! I didn't know SG was so brave to defy US sanction.  Look like we're a small nation with big guts.

Global inflation or deflation?

The US Fed has concluded with no interest rate movement and termination of quantitative tightening (QT).  Therefore, we can deduce that the US Fed is expecting the US economy to slow down in the latter half.

Economists and analysts are anticipating the CPIs in the US and China to rise in the 2nd half of 2019.  The FAO price index is also substantiating the uprising CPI trend.

The chart above shows that the food price index is trending higher in 2019 after reaching a trough in 2018.

https://www.foodinsiderjournal.com/supply-chain/cereal-dairy-continue-drive-fao-price-index-higher-march

The US Fed is watching the economic situation as it unfolds because the upcoming inflation is desirable unless it is runaway inflation.  Why is inflation desirable? Please read our post below to find out more.

http://sg-stock.blogspot.com/2019/02/usd-is-likely-to-depreciate-soon-why.html

Wednesday, March 20, 2019

Sembcorp Marine - Stock calls


Date Analyst Company Last Target Call Valuation
01/02/18 UOB Kay Hian Sembcorp Marine 1.84 2.1 Buy
01/02/18 CIMB Sembcorp Marine 1.84 2.49 Add PB2x FY18
01/03/18 OCBC Sembcorp Marine 1.87 1.78 Hold PB1.85x
01/05/18 Amfrasers Sembcorp Marine 1.83 2.05 Hold
01/22/18 OCBC Sembcorp Marine 2.3 2.37 Hold PB2x FY18
01/23/18 UBS Sembcorp Marine 2.39 3.06 Buy
01/23/18 DBS Vickers Sembcorp Marine 2.39 3.1 Buy PB2.4x FY18
02/02/18 Deutsche Sembcorp Marine 2.57 2.9 Buy
02/02/18 Credit Suisse Sembcorp Marine 2.57 3 Outperform
02/07/18 CIMB Sembcorp Marine 2.71 2.49 Neutral Buy @ $2
02/13/18 DBS Vickers Sembcorp Marine 2.37 3.1 Buy
02/22/18 OCBC Sembcorp Marine 2.63 2.43 Hold
02/22/18 UOB Kay Hian Sembcorp Marine 2.63 1.9 Hold PB1.6x FY19, Buy @ $1.80
02/22/18 DBS Vickers Sembcorp Marine 2.63 2.9 Buy PB2.4x FY18
02/22/18 CIMB Sembcorp Marine 2.63 3.01 Add PB2.5x FY18
02/26/18 phillip Sembcorp Marine 2.23 1.91 Reduce PER43.4x FY18
02/27/18 Amfrasers Sembcorp Marine 2.18 2.06 Hold
03/05/18 CIMB Sembcorp Marine 2.02 3.01 Add PB2.5x FY18
03/05/18 OCBC Sembcorp Marine 2.02 2.07 Hold PB1.7x FY18/19
03/06/18 DBS Vickers Sembcorp Marine 1.9 2.9 Buy PB2.4x FY18
03/26/18 Morgan Stanley Sembcorp Marine 2.09 2.45 Overweight PB2.2x FY18, Up from $1.48 ({PB1.2x)
03/28/18 UOB Kay Hian Sembcorp Marine 2.21 2.78 Buy
04/03/18 DBS Vickers Sembcorp Marine 2.22 2.9 Buy
04/06/18 CIMB Sembcorp Marine 2.17 3.01 Add PB2.5x FY18
04/11/18 OCBC Sembcorp Marine 2.23 2.07 Hold
04/23/18 Macquarie Sembcorp Marine 2.32 1.8 Underperform PB1.5x
04/26/18 CIMB Sembcorp Marine 2.23 2.52 Add PB
04/26/18 UOB Kay Hian Sembcorp Marine 2.23 2.05 Hold PB1.7x FY19, Buy @ $1.90
04/26/18 OCBC Sembcorp Marine 2.23 2.1 Hold PB1.75x FY18/19
04/26/18 CIMB Sembcorp Marine 2.23 2.52 Add PB2.2x CY18
04/26/18 Lim & Tan Sembcorp Marine 2.23 0 Hold
04/27/18 phillip Sembcorp Marine 2.11 1.85 Reduce PER51.4x
04/27/18 DBS Vickers Sembcorp Marine 2.11 2.9 Buy PB2.4x FY18
05/08/18 Amfrasers Sembcorp Marine 2.1 2.64 Buy PB2.4x FY18
05/08/18 OCBC Sembcorp Marine 2.1 2.1 Hold
05/22/18 CIMB Sembcorp Marine 2.27 2.52 Add PB2.2x CY18
06/05/18 DBS Vickers Sembcorp Marine 2.11 2.9 Buy
06/25/18 UOB Kay Hian Sembcorp Marine 1.96 2.05 Hold
07/11/18 CIMB Sembcorp Marine 1.97 2.52 Add PB2.2x CY18
07/13/18 DBS Vickers Sembcorp Marine 1.95 2.9 Buy
07/23/18 UOB Kay Hian Sembcorp Marine 1.96 1.83 Hold PB1.7x FY19, Buy @ $1.73
07/23/18 Credit Suisse Sembcorp Marine 1.96 2.4 Outperform
07/23/18 OCBC Sembcorp Marine 1.96 2.1 Hold
07/23/18 phillip Sembcorp Marine 1.96 1.78 Reduce PB1.6x FY19
07/24/18 DBS Vickers Sembcorp Marine 1.83 2.5 Buy
07/24/18 Lim & Tan Sembcorp Marine 1.83 0 Hold
08/20/18 OCBC Sembcorp Marine 1.67 1.74 Hold PB1.75x FY19
08/30/18 CIMB Sembcorp Marine 1.69 2.52 Add PB2.2x CY18
09/06/18 DBS Vickers Sembcorp Marine 1.68 2.5 Buy
10/18/18 CIMB Sembcorp Marine 1.87 2.52 Add PB2.2x CY18
10/26/18 CIMB Sembcorp Marine 1.72 2.46 Add PB2.2x CY18
10/26/18 UOB Kay Hian Sembcorp Marine 1.72 1.83 Hold PB1.7x FY18, Buy @ $1.65
10/26/18 OCBC Sembcorp Marine 1.72 1.73 Hold
10/29/18 phillip Sembcorp Marine 1.61 1.65 Neutral PB1.6x FY19
10/29/18 DBS Vickers Sembcorp Marine 1.61 2.4 Buy PB2.1x FY18
10/29/18 Lim & Tan Sembcorp Marine 1.61 0 Hold
01/10/19 DIR Sembcorp Marine 1.62 1.62 Hold Cut from $1.78, PB1.8x FY19
01/22/19 Amfrasers Sembcorp Marine 1.66 2.5 Buy
02/01/19 UOB Kay Hian Sembcorp Marine 1.6 1.83 Hold PB1.7x FY19, Buy @ $1.50
02/04/19 DBS Vickers Sembcorp Marine 1.59 2.4 Buy PB2.1x FY19
02/21/19 CIMB Sembcorp Marine 1.68 2.21 Add PB2x CY19
02/21/19 OCBC Sembcorp Marine 1.68 1.77 Hold
02/21/19 phillip Sembcorp Marine 1.68 1.76 Neutral PB1.6x
02/21/19 Lim & Tan Sembcorp Marine 1.68 0 Hold
02/26/19 Amfrasers Sembcorp Marine 1.72 2.48 Buy

Sembcorp Industries - Stock calls


Date Analyst Company Last Target Call Valuation
01/02/18 UOB Kay Hian Sembcorp Industries 3.03 3.87 Buy
01/23/18 DBS Vickers Sembcorp Industries 3.38 4.5 Buy Sum of parts (10% discount), PB1.1x
02/05/18 OCBC Sembcorp Industries 3.57 3.95 Buy Sum of parts
02/13/18 DBS Vickers Sembcorp Industries 3.21 4.5 Buy
02/19/18 Lim & Tan Sembcorp Industries 3.22 0 Buy
02/20/18 UOB Kay Hian Sembcorp Industries 3.3 3.87 Buy
02/21/18 CIMB Sembcorp Industries 3.28 3.87 Add Sum of parts
02/26/18 OCBC Sembcorp Industries 3.24 3.84 Buy
02/26/18 phillip Sembcorp Industries 3.24 3.86 Accumulate Sum of parts
02/26/18 UOB Kay Hian Sembcorp Industries 3.24 3.28 Hold Sum of parts, Buy @ $2.90
02/26/18 CIMB Sembcorp Industries 3.24 4.13 Add Sum of parts, PER8x FY18, PB0.63x FY18
02/27/18 DBS Vickers Sembcorp Industries 3.2 4.4 Buy Sum of parts (10% discount), PB1.1x
03/05/18 OCBC Sembcorp Industries 3.12 3.59 Buy
03/07/18 DBS Vickers Sembcorp Industries 3.08 4.4 Buy RNAV (10% discount), PB1.1x
03/26/18 Morgan Stanley Sembcorp Industries 3.04 2.77 Underweight Sum of parts, Up from $2.39
04/03/18 DBS Vickers Sembcorp Industries 3.11 4.4 Buy
04/04/18 UOB Kay Hian Sembcorp Industries 3.06 3.28 Hold Sum of parts, Buy @ $3
04/12/18 CIMB Sembcorp Industries 3.11 4.13 Add Sum of parts
04/23/18 Macquarie Sembcorp Industries 3.24 3.6 Outperform
05/04/18 OCBC Sembcorp Industries 3.06 3.59 Buy
05/04/18 UOB Kay Hian Sembcorp Industries 3.06 3.6 Hold Sum of parts, Buy @ $2.90
05/04/18 CIMB Sembcorp Industries 3.06 3.49 Add Sum of parts
05/07/18 DBS Vickers Sembcorp Industries 3.04 4.4 Buy Sum of parts (10% discount), PB1.1x
05/09/18 phillip Sembcorp Industries 3.06 3.83 Buy Sum of parts (10% discount)
06/04/18 CIMB Sembcorp Industries 2.93 3.49 Add
06/04/18 DBS Vickers Sembcorp Industries 2.93 4.5 Buy
06/25/18 UOB Kay Hian Sembcorp Industries 2.76 3.6 Hold PER8.5x FY19
06/25/18 Lim & Tan Sembcorp Industries 2.76 0 Accumulate
07/03/18 UOB Kay Hian Sembcorp Industries 2.72 3.6 Buy
07/11/18 CIMB Sembcorp Industries 2.67 3.49 Add
08/06/18 DBS Vickers Sembcorp Industries 2.63 3.9 Buy RNAV (10% discount), PB1x
08/06/18 UOB Kay Hian Sembcorp Industries 2.63 3.41 Buy
08/06/18 CIMB Sembcorp Industries 2.63 3.49 Add Sum of parts
08/07/18 phillip Sembcorp Industries 2.7 3.7 Buy Sum of parts
08/07/18 Lim & Tan Sembcorp Industries 2.7 0 Buy
09/06/18 DBS Vickers Sembcorp Industries 2.75 3.9 Buy
09/19/18 CIMB Sembcorp Industries 2.9 3.49 Add Sum of parts
09/24/18 phillip Sembcorp Industries 3.03 3.7 Buy
09/24/18 OCBC Sembcorp Industries 3.03 3.53 Buy
10/02/18 DBS Vickers Sembcorp Industries 3.07 3.9 Buy Sum of parts (10% discount), PER19.2x FY18, PB1x FY18
10/02/18 CIMB Sembcorp Industries 3.07 3.49 Add Sum of parts
10/09/18 UOB Kay Hian Sembcorp Industries 2.96 3.41 Buy
10/11/18 Lim & Tan Sembcorp Industries 2.95 0 Buy
11/01/18 Macquarie Sembcorp Industries 2.82 3.6 Buy
11/05/18 OCBC Sembcorp Industries 2.84 3.3 Buy Sum of parts
11/05/18 UOB Kay Hian Sembcorp Industries 2.84 3.41 Buy Sum of parts
11/05/18 CIMB Sembcorp Industries 2.84 3.49 Add Sum of parts
11/05/18 DBS Vickers Sembcorp Industries 2.84 3.7 Buy RNAV (10% discount), PB1x
11/08/18 phillip Sembcorp Industries 2.67 3.6 Buy Sum of parts
11/08/18 Lim & Tan Sembcorp Industries 2.67 0 Hold
12/13/18 UOB Kay Hian Sembcorp Industries 2.61 3.41 Buy
12/21/18 DBS Vickers Sembcorp Industries 2.54 3.7 Buy
01/10/19 DIR Sembcorp Industries 2.64 3.05 Outperform Sum of parts, cut from $3.26
01/15/19 UOB Kay Hian Sembcorp Industries 2.63 3.2 Buy Sum of parts
01/23/19 CIMB Sembcorp Industries 2.69 3.49 Add
02/01/19 UOB Kay Hian Sembcorp Industries 2.59 3.2 Buy
02/04/19 DBS Vickers Sembcorp Industries 2.58 3.7 Buy
02/21/19 Lim & Tan Sembcorp Industries 2.66 0 Hold
02/25/19 DBS Vickers Sembcorp Industries 2.67 3.9 Buy RNAV (10% discount), PB1x
03/13/19 UOB Kay Hian Sembcorp Industries 2.57 2.8 Hold Sum of parts, Buy @ $2.35
03/18/19 Lim & Tan Sembcorp Industries 2.52 0 Hold

SATS - Stock calls


Date Analyst Company Last Target Call Valuation
01/16/18 OCBC SATS 5.78 5.5 Hold Buy @ $5.05 or lower
01/16/18 Citi Research SATS 5.78 6.1 Buy Up from $5.63
02/14/18 Kim Eng SATS 5.25 6.1 Buy PER21x FY20
02/14/18 UOB Kay Hian SATS 5.25 5.9 Buy DCF, PER25.2x FY18
02/14/18 OCBC SATS 5.25 5.5 Hold Buy @ $5.05 or lower
02/14/18 CIMB SATS 5.25 5.17 Hold PER20x FY19
02/14/18 phillip SATS 5.25 5.33 Neutral DCF, PER23.3x FY18
02/14/18 DBS Vickers SATS 5.25 5.67 Buy DCF, PER22x FY19
03/09/18 UOB Kay Hian SATS 5.03 5.9 Buy
04/13/18 UOB Kay Hian SATS 5.18 5.8 Buy PER25.3x FY19
04/19/18 CIMB SATS 5.45 5.17 Hold
05/30/18 Lim & Tan SATS 5.35 0 Hold
05/31/18 phillip SATS 5.28 5.58 Accumulate DCF
05/31/18 UOB Kay Hian SATS 5.28 5.7 Buy DCF, PER24.3x FY19
05/31/18 DBS Vickers SATS 5.28 5.64 Buy
05/31/18 OCBC SATS 5.28 5.5 Hold
06/11/18 UOB Kay Hian SATS 5.13 5.7 Buy
06/14/18 OCBC SATS 5.06 5.5 Buy
07/03/18 UOB Kay Hian SATS 4.91 5.7 Buy
07/20/18 phillip SATS 5.1 5.58 Accumulate DCF, PER24.7x FY19
07/20/18 UOB Kay Hian SATS 5.1 6.1 Buy DCF, PER23x FY20
07/20/18 Kim Eng SATS 5.1 5.9 Buy PER21x FY20
07/20/18 CIMB SATS 5.1 5.06 Hold PER20x CY19
07/20/18 DBS Vickers SATS 5.1 5.65 Buy DCF & PER22x FY19
08/17/18 UOB Kay Hian SATS 5.1 6.1 Buy
09/10/18 UOB Kay Hian SATS 5.01 6.1 Buy
09/18/18 OCBC SATS 4.93 5.39 Buy
11/08/18 UOB Kay Hian SATS 4.99 5.6 Buy EV/Invested Capital
11/09/18 phillip SATS 5.11 5.47 Accumulate DCF, PER24.3x FY19
11/09/18 OCBC SATS 5.11 5.39 Hold
11/09/18 CIMB SATS 5.11 5.06 Hold PER20x CY19
11/12/18 DBS Vickers SATS 4.88 5.6 Buy DCF, PER22x FY20
11/12/18 Citi Research SATS 4.88 6 Buy
11/29/18 OCBC SATS 4.65 5.34 Buy FCFE
11/30/18 UOB Kay Hian SATS 4.83 5.4 Buy
12/10/18 UOB Kay Hian SATS 4.65 5.6 Buy
01/04/19 UOB Kay Hian SATS 4.59 5.6 Buy
01/11/19 OCBC SATS 4.94 5.23 Hold DCF
02/08/19 UOB Kay Hian SATS 4.8 5.6 Buy
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 DCF & PER22x FY19
02/14/19 Kim Eng SATS 4.98 5.8 Buy
02/15/19 Citi Research SATS 5.08 6 Buy

Stock calls for 20 March 2019


Date Analyst Company Last Target Call Valuation
03/20/19 DMG & Partners Dairy Farm 7.41 8.25 Buy DCF
03/20/19 CIMB Mapletree Commercial 1.83 1.94 Add DDM
03/20/19 DBS Vickers Starhill 0.695 0.75 Buy
03/20/19 UOB Kay Hian Wilmar 3.3 3.9 Buy

Tommy Koh has an anti-China mindset and it's bad for Singapore.

https://www.straitstimes.com/singapore/tommy-koh-urges-japan-to-be-top-asean-investor-again

I don't know what China did to him or his ancestors for him to be imbued with anti-China sentiment.  However, I knew what the Japanese did to Asia (raped and killed millions of people) for 3 years 8 months.

China is a growing economy (US$12T GDP now) and will surpass the USA (US$20T GDP now) by 2030 but Japan has only a GDP of US$4.5T now.  Furthermore, China has a much deeper pocket than Japan.

Anyone with a decent IQ will know that it is inevitable that we need to depend on China for our economic growth.  This is something we cannot walk away.  Even Japan has to depend on China for its own economic growth now.  Why do we need to rely on Japan when Japan has to depend on China too.  We might as well depend on China directly instead of via Japan.

We will face a steep slowdown if we lose our dependence on China as shown below.

https://sg.finance.yahoo.com/news/singapore-faces-steepest-growth-deceleration-030149598.html

I think we need to boot old people out of politics as an irrational mindset tends to develop in old age.  I am not being discriminative against old age but the fact speaks for itself.

USD is likely to depreciate soon. Why? - Part 2

The USD dollar index is below 96 now.

This is an update post for our previous post below.  In our previous post, we had stated the factors for USD depreciation.

http://sg-stock.blogspot.com/2019/02/usd-is-likely-to-depreciate-soon-why.html

Tuesday, March 19, 2019

Sasseur - Stock calls


Date Analyst Company Last Target Call Valuation
06/07/18 Kim Eng Sasseur 0.77 0.9 Buy
06/20/18 Citi Research Sasseur 0.76 0.92 Buy
08/07/18 Kim Eng Sasseur 0.75 0.9 Buy DDM
09/18/18 DBS Vickers Sasseur 0.71 0.91 Buy DCF
11/13/18 Kim Eng Sasseur 0.68 0.9 Buy
11/14/18 DBS Vickers Sasseur 0.68 0.91 Buy DCF
02/20/19 Kim Eng Sasseur 0.74 0.9 Buy DDM
02/20/19 DBS Vickers Sasseur 0.74 0.97 Buy DCF

Sarine - Stock calls


Date Analyst Company Last Target Call Valuation
02/06/18 CIMB Sarine 1.05 1.56 Add PER17.2x CY19
02/27/18 CIMB Sarine 1.18 1.53 Add PER17.2x CY19
05/15/18 CIMB Sarine 1.03 1.53 Add PER17.2x CY19

Sanli Env - Stock calls


Date Analyst Company Last Target Call Valuation
01/11/18 SAC Advisors Sanli Env 0.295 0.36 Buy PER15.9x FY18
05/25/18 SAC Advisors Sanli Env 0.25 0.36 Buy
12/20/18 SAC Advisors Sanli Env 0.22 0.36 Buy

Stock calls for 19 March 2019


Date Analyst Company Last Target Call Valuation
03/19/19 DMG & Partners Avi-Tech 0.29 0.3 Neutral
03/19/19 DBS Vickers Mermaid Maritime 0.084 0.06 Sell Sum of parts
03/19/19 CIMB Mermaid Maritime 0.084 0.158 Hold PB0.48x CY18
03/19/19 phillip SGX 7.31 8.17 Accumulate PER23.2x
03/19/19 Kim Eng Sheng Siong 1.08 0.95 Sell DCF, PER19.5x FY19
03/19/19 CIMB SIA 9.83 10.25 Hold
03/19/19 UOB Kay Hian SIA 9.83 10.1 Hold Buy @ $9
03/19/19 OCBC Starhill 0.7 0.75 Buy
03/19/19 DMG & Partners Valuetronics 0.69 0.78 Neutral
03/19/19 DMG & Partners Venture 18 19 Buy

WIPO showed that China didn't steal other technologies.

https://finance.yahoo.com/news/huawei-leads-asian-domination-u-230100081.html

If China steals from others, it won't be able to file so many patents.  Furthermore, China will topple the US this year or next in the patent application.

Well done to China!

Monday, March 18, 2019

Roxy-Pacific - Stock calls


Date Analyst Company Last Target Call Valuation
02/15/18 OCBC Roxy-Pacific 0.56 0.66 Buy
02/19/18 DBS Vickers Roxy-Pacific 0.56 0.69 Buy RNAV (30% discount)
03/20/18 DBS Vickers Roxy-Pacific 0.555 0.69 Buy RNAV (30% discount)
04/03/18 DBS Vickers Roxy-Pacific 0.55 0.69 Buy
05/08/18 DBS Vickers Roxy-Pacific 0.515 0.63 Buy
05/15/18 OCBC Roxy-Pacific 0.515 0.6 Buy
06/05/18 DBS Vickers Roxy-Pacific 0.505 0.63 Buy
07/09/18 DBS Vickers Roxy-Pacific 0.43 0.4 Fully Valued RNAV (55% discount)
08/01/18 OCBC Roxy-Pacific 0.44 0.44 Hold RNAV (35% discount)
08/01/18 DBS Vickers Roxy-Pacific 0.44 0.4 Hold RNAV (55% discount)
08/02/18 DBS Vickers Roxy-Pacific 0.44 0.4 Fully Valued RNAV (55% discount)
11/01/18 OCBC Roxy-Pacific 0.38 0.41 Hold RNAV (40% discount)
12/14/18 DBS Vickers Roxy-Pacific 0.405 0.39 Hold RNAV (55% discount)
01/17/19 DBS Vickers Roxy-Pacific 0.405 0.39 Hold
02/25/19 OCBC Roxy-Pacific 0.415 0.41 Hold