Starhub - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/10/18	DMG & Partners	Starhub	2.89	2.7	Neutral
01/12/18	UOB Kay Hian	Starhub	2.93	2.62	Hold
01/17/18	CIMB	Starhub	2.92	2.8	Hold	DCF
01/26/18	DBS Vickers	Starhub	2.97	2.2	Fully Valued	DCF
02/15/18	OCBC	Starhub	2.86	2.2	Sell
02/15/18	UOB Kay Hian	Starhub	2.86	2.7	Hold	DCF, Buy @ $2.50
02/15/18	Kim Eng	Starhub	2.86	2.27	Sell	DCF
02/15/18	Credit Suisse	Starhub	2.86	2.15	Underperform
02/15/18	CIMB	Starhub	2.86	2.7	Hold	DCF
02/15/18	Lim & Tan	Starhub	2.86	0	Sell
02/15/18	DMG & Partners	Starhub	2.86	2.65	Neutral
02/15/18	Citibank	Starhub	2.86	2.3	Sell
02/20/18	DBS Vickers	Starhub	2.6	2.2	Fully Valued	DCF
03/12/18	UOB Kay Hian	Starhub	2.47	2.7	Hold
03/14/18	Kim Eng	Starhub	2.44	2.27	Sell	DCF
03/15/18	CIMB	Starhub	2.43	2.7	Hold	DCF
03/15/18	DMG & Partners	Starhub	2.43	2.65	Neutral
03/20/18	UOB Kay Hian	Starhub	2.43	2.25	Sell
04/03/18	Kim Eng	Starhub	2.33	2.27	Hold
04/10/18	OCBC	Starhub	2.28	2.2	Hold
04/10/18	UOB Kay Hian	Starhub	2.28	2.25	Sell
04/10/18	Citibank	Starhub	2.28	2.3	Hold
05/04/18	UOB Kay Hian	Starhub	2.31	2.25	Sell	DCF
05/04/18	Kim Eng	Starhub	2.31	2.27	Hold	DCF
05/04/18	DMG & Partners	Starhub	2.31	2.5	Neutral	DCF
05/04/18	OCBC	Starhub	2.31	2.2	Hold
05/07/18	CIMB	Starhub	2.29	2.4	Hold	DCF
05/07/18	DBS Vickers	Starhub	2.29	2.05	Fully Valued	DCF
06/12/18	UOB Kay Hian	Starhub	1.84	1.98	Hold	DCF
06/12/18	Citibank	Starhub	1.84	2	Hold
06/27/18	DMG & Partners	Starhub	1.73	1.9	Neutral	DCF
06/27/18	DBS Vickers	Starhub	1.73	1.42	Hold	EV/Ebitda5.6x
07/03/18	UOB Kay Hian	Starhub	1.64	1.98	Hold
07/09/18	Kim Eng	Starhub	1.7	1.96	Buy	DCF
08/08/18	UOB Kay Hian	Starhub	1.69	1.92	Hold	DCF, Buy @ $1.65
08/08/18	DBS Vickers	Starhub	1.69	1.42	Hold	EV/Ebitda5.6x
08/08/18	DMG & Partners	Starhub	1.69	1.78	Neutral	DCF
08/08/18	OCBC	Starhub	1.69	1.65	Hold
08/08/18	Citibank	Starhub	1.69	1.55	Hold
08/15/18	CIMB	Starhub	1.65	1.85	Add	DCF
08/20/18	UOB Kay Hian	Starhub	1.66	1.82	Hold	DCF, Buy @ $1.64
09/06/18	Kim Eng	Starhub	1.61	1.96	Buy	DCF
09/06/18	UOB Kay Hian	Starhub	1.61	1.85	Hold	DCF
09/06/18	CIMB	Starhub	1.61	1.85	Add	DCF
09/06/18	DBS Vickers	Starhub	1.61	1.42	Hold	EV/Ebitda5.6x
09/06/18	DMG & Partners	Starhub	1.61	1.78	Neutral	DCF
09/25/18	UOB Kay Hian	Starhub	1.71	1.92	Buy	DCF
09/28/18	Citibank	Starhub	1.88	1.55	Sell
10/01/18	UOB Kay Hian	Starhub	1.87	2.1	Buy	DCF
10/04/18	DMG & Partners	Starhub	1.87	1.78	Neutral
10/04/18	OCBC	Starhub	1.87	1.65	Hold
10/04/18	CIMB	Starhub	1.87	2	Add	DCF
10/04/18	DBS Vickers	Starhub	1.87	2.45	Buy	DCF
10/05/18	Kim Eng	Starhub	1.95	2.21	Buy	DCF
10/19/18	UOB Kay Hian	Starhub	1.96	2.3	Buy	DCF
11/02/18	DBS Vickers	Starhub	1.98	2.45	Buy	DCF
11/07/18	CIMB	Starhub	1.96	2	Hold	DCF
11/07/18	Kim Eng	Starhub	1.96	2.21	Buy	DCF
11/12/18	UOB Kay Hian	Starhub	1.94	2.3	Buy	DCF
11/12/18	DMG & Partners	Starhub	1.94	1.9	Neutral	DCF
11/12/18	OCBC	Starhub	1.94	1.92	Hold
12/20/18	DBS Vickers	Starhub	1.77	2.45	Buy
01/02/19	UOB Kay Hian	Starhub	1.75	1.6	Sell
01/02/19	Kim Eng	Starhub	1.75	2.21	Buy
01/04/19	Phillip	Starhub	1.71	1.88	Accumlate	EV/Ebitda6x FY19
01/14/19	DMG & Partners	Starhub	1.77	1.9	Neutral
01/15/19	DBS Vickers	Starhub	1.77	2.45	Buy	DCF
02/07/19	Kim Eng	Starhub	1.82	2.21	Buy
02/08/19	DBS Vickers	Starhub	1.89	2.45	Buy
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
02/18/19	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	DCF
02/19/19	CIMB	Starhub	1.61	2	Hold	DCF
03/26/19	CIMB	Starhub	1.51	1.65	Hold	DCF (10% discount)
04/01/19	Kim Eng	Starhub	1.49	2.18	Buy

Starhill - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/18	Kim Eng	Starhill	0.78	0.7	Sell	DDM
01/05/18	DMG & Partners	Starhill	0.775	0.81	Neutral	DDM
01/30/18	OCBC	Starhill	0.78	0.77	Hold
01/30/18	Lim & Tan	Starhill	0.78	0	Hold
03/19/18	DBS Vickers	Starhill	0.725	0.82	Buy
04/27/18	OCBC	Starhill	0.72	0.77	Hold
04/27/18	Kim Eng	Starhill	0.72	0.7	Sell
05/17/18	DMG & Partners	Starhill	0.685	0.81	Neutral
06/19/18	OCBC	Starhill	0.66	0.65	Hold
07/30/18	Kim Eng	Starhill	0.685	0.65	Hold	DDM
07/30/18	OCBC	Starhill	0.685	0.65	Hold
07/31/18	CIMB	Starhill	0.685	0.69	Hold	DDM
08/17/18	OCBC	Starhill	0.675	0.74	Buy
10/16/18	DMG & Partners	Starhill	0.67	0.8	Buy	DDM
10/31/18	OCBC	Starhill	0.665	0.71	Buy
11/01/18	CIMB	Starhill	0.67	0.74	Add	DDM
11/20/18	DMG & Partners	Starhill	0.665	0.8	Buy
12/11/18	DBS Vickers	Starhill	0.67	0.75	Buy	DCF
12/11/18	DMG & Partners	Starhill	0.67	0.8	Buy
01/02/19	DMG & Partners	Starhill	0.68	0.8	Buy	DDM
01/31/19	CIMB	Starhill	0.72	0.75	Add	DDM
01/31/19	DBS Vickers	Starhill	0.72	0.75	Buy
02/01/19	OCBC	Starhill	0.715	0.75	Buy
03/13/19	DMG & Partners	Starhill	0.7	0.8	Buy
03/19/19	OCBC	Starhill	0.7	0.75	Buy
03/20/19	DBS Vickers	Starhill	0.695	0.75	Buy
03/21/19	DMG & Partners	Starhill	0.705	0.78	Buy	DDM
03/22/19	CIMB	Starhill	0.7	0.74	Add	DDM

Stock calls for 1 April 2019

Date	Analyst	Company	Last	Target	Call	Valuation
04/01/19	UOB Kay Hian	Capitaland	3.65	4.4	Buy
04/01/19	phillip	Clearbridge	0.142	0.28	Buy	DCF
04/01/19	UOB Kay Hian	DBS	25.23	28.4	Buy
04/01/19	Lim & Tan	Ho Bee	2.52	0	Buy
04/01/19	UOB Kay Hian	Keppel Reit	1.29	1.35	Buy
04/01/19	UOB Kay Hian	Netlink	0.83	0.92	Buy
04/01/19	Kim Eng	Netlink	0.83	0.93	Buy
04/01/19	UOB Kay Hian	Parkway Life	2.92	3.25	Buy
04/01/19	UOB Kay Hian	Propnex	0.595	0.66	Buy
04/01/19	Kim Eng	Singtel	3.02	3.39	Hold
04/01/19	Kim Eng	Starhub	1.49	2.18	Buy
04/01/19	UOB Kay Hian	Tianjin Zhongxin	0.915	1.7	Buy

Germany's PMI is weaker than expected.

https://sg.finance.yahoo.com/news/germanys-manufacturing-recession-worsens-pmi-070916655--finance.html

Germany's PMI is 44.1 and is lower than the expected 44.7.

http://sg-stock.blogspot.com/2019/03/germany-will-enter-into-recession-in.html

Europe has the perfect condition set up for a financial crisis.  Let's see if the US financial firms will launch an attack against Europe.

Midas will go bankrupt faster than Hyflux.

https://sg.finance.yahoo.com/news/facing-insolvency-no-rescuer-sight-081430368.html

Midas is unable to find a white knight because it doesn't know its own debt situation.

We stated this in our previous post below.

http://sg-stock.blogspot.com/2018/05/midas-is-facing-bankruptcy-now.html

It is useless for the Hyflux investors to protest.

https://sg.finance.yahoo.com/news/rare-singapore-protest-flags-investor-anger-hyflux-slump-025643570.html

There is no point in protesting because the Hyflux investors won't achieve anything. Just look at and learn from the history of Lehman Brothers' minibonds sold by DBS.  DBS also refused to compensate the Singapore minibond's investors until the HKMA forced DBS's subsidiary in HK to compensate the HK investors.  It was the HKMA's action that compelled DBS to compensate our Singapore investors.

The Hyflux investors have to bite the bullets and move on because there is nothing they can do.

1997 Asian financial crisis is replaying in the Middle East now. Here's why!

https://www.businessinsider.sg/turkey-probes-jpmorgan-for-lira-advice-before-currency-plunged-2019-3/?r=US&IR=T

JP Morgan is trying to start the spark of a financial crisis in the Middle East which has the same modus operandi as the 1997 Asian financial crisis.

The first step will be to devalue the currency and JPM has selected Lira because Turkey is a big economic with bad fundamentals.  Turkey is in a technical recession now.

https://www.nytimes.com/2019/03/11/business/turkey-recession.html

JPM had issued a shorting report on Lira just before the Turkey election and it was successful in creating a Lira panic.  The Turkey swap rates soared past 1200% at one point.

https://www.theguardian.com/world/2019/mar/31/turkey-votes-local-elections-seen-key-test-of-erdogan-rule

https://www.dailysabah.com/economy/2019/03/29/turkey-aware-of-currency-market-manipulation-ahead-of-local-elections

https://www.bloomberg.com/news/articles/2019-03-27/foreign-investors-are-trapped-in-turkey-days-before-elections

The intention of JPM is not to earn a huge windfall from the currency market but to force the Turkish central bank to hike interest rates or keep its high interest rates long enough to impact interest rate sensitive industries such as banking and finance, property, etc.  Consequently, the high interest rates will cause the Turkish stock market to crash and the US financial firms will earn the huge windfalls from shorting the index futures in Turkey and other affected countries as the contagion spreads.

Let's reminisce the 1997 Asian financial crisis in steps.

1. Steep currency devaluation.
2. Central bank hikes interest rates or keeps high interest rates long enough to prevent the steep currency depreciation.
3. Stock market crashes
4. Another big but weak economy is targeted (HK)
5. Contagion spreads like fire in Asia.

The Thai baht was first targeted by George Soros (GS) because Thailand had high non-performing loans in the banking and financial industries and the Thai baht was pegged to the USD back then.  The steep devaluation of the Thai baht forced the Thailand central bank to raise interest rates to prevent the steep Thai baht depreciation.  Subsequently, the high interest rates caused the Thai stock market to collapse and exacerbate its economy.  Thereafter, the contagion started to spread and Hong Kong became the next target for GS.  In 1997, HK was returned to China with limited coffer because the UK had siphoned the HK government funds.  Therefore, the new HK became the perfect target for GS.

Turkey is just like Thailand in 1997 now.  Currently, step 1 (Steep currency devaluation) has happened.  Turkey looks set to hike or keep its high interest rates long enough to protect its lira.

Let's see how this will pan out.

When step 2 and 3 have taken place, the next target will be one of the pigs (Portugal, Italy, Greece, Spain) in Europe.  My guess will be Italy because it is a big economy with high debts.

Baltic dry index - 689

Today, Friday, March 29 2019, the Baltic Dry Index decreased by 3 points, reaching 689 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 - 1006

The weekly Baker Hughes rig count 

• Total rig count 1006 vs 1016 last week
• Oil rig count 816 vs 824 last week
• Gas rig count 190 vs 192 last week.

The price of crude is trading at $60.10 up $0.79 or 1.32%. The high reached $60.73. The low extended to $59.41

It is the 4th down week in a row for oil rigs.  The high water mark for oil rigs reached 888 in November 2018. Today's number is the lowest since April 2018.

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

Related stocks: Keppel Corp, Sembcorp Marine & Cosco

ST Engineering - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/05/18	DBS Vickers	ST Engineering	3.3	3.7	Hold
01/18/18	CIMB	ST Engineering	3.31	3.85	Add	DCF & PER22x CY19
01/22/18	Lim & Tan	ST Engineering	3.32	0	Buy
02/07/18	OCBC	ST Engineering	3.23	4	Buy
02/07/18	CIMB	ST Engineering	3.23	3.85	Add
02/20/18	DMG & Partners	ST Engineering	3.35	4.2	Buy
02/26/18	CIMB	ST Engineering	3.39	3.8	Add	DCF, PER & Div yield
02/26/18	UOB Kay Hian	ST Engineering	3.39	3.6	Hold	DCF, Buy @ $3.20
02/26/18	DBS Vickers	ST Engineering	3.39	3.9	Buy
02/26/18	Lim & Tan	ST Engineering	3.39	0	Buy
02/27/18	DMG & Partners	ST Engineering	3.44	4.04	Buy	PER23x & PB5.5x & EV/Ebitda16x & DCF
03/02/18	Lim & Tan	ST Engineering	3.38	0	Buy
03/05/18	CIMB	ST Engineering	3.36	3.8	Add	DCF & PER & Div Yield
03/09/18	UOB Kay Hian	ST Engineering	3.38	3.6	Hold
03/12/18	Kim Eng	ST Engineering	3.38	4.15	Buy	DCF
03/13/18	Amfrasers	ST Engineering	3.43	3.88	Buy
03/13/18	Credit Suisse	ST Engineering	3.43	4	Outperform	DCF
03/23/18	UOB Kay Hian	ST Engineering	3.47	4.1	Buy	EV/Invested capital basis, PER23x FY19
03/23/18	DBS Vickers	ST Engineering	3.47	4.1	Buy	DCF & PER22x
04/12/18	Lim & Tan	ST Engineering	3.65	0	Buy
04/16/18	DMG & Partners	ST Engineering	3.67	4.04	Buy
04/23/18	Macquarie	ST Engineering	3.65	3.9	Outperform
05/11/18	Lim & Tan	ST Engineering	3.46	0	Buy
05/14/18	CIMB	ST Engineering	3.39	3.8	Add	DCF & PER20x CY19
05/14/18	DBS Vickers	ST Engineering	3.39	4.1	Buy
05/14/18	DMG & Partners	ST Engineering	3.39	4.04	Buy	PER23x & PB5.5x & EV/Ebitda16x & DCF
05/23/18	UOB Kay Hian	ST Engineering	3.47	4.1	Buy
06/04/18	UOB Kay Hian	ST Engineering	3.45	4.1	Buy
06/28/18	DBS Vickers	ST Engineering	3.29	4.1	Buy
07/03/18	UOB Kay Hian	ST Engineering	3.27	4.1	Buy
07/05/18	OCBC	ST Engineering	3.25	3.9	Buy
08/03/18	UOB Kay Hian	ST Engineering	3.36	4.1	Buy	EV/Invested capital basis, PER22x FY18
08/10/18	Kim Eng	ST Engineering	3.45	4.15	Buy	DCF
08/10/18	CIMB	ST Engineering	3.45	3.8	Add	Sum of parts
08/10/18	OCBC	ST Engineering	3.45	3.9	Buy	FCFE
08/10/18	DBS Vickers	ST Engineering	3.45	4.1	Buy
08/10/18	DMG & Partners	ST Engineering	3.45	3.97	Buy
09/03/18	CIMB	ST Engineering	3.34	3.8	Add	PER20x CY19 & DCF & 4% Div Yield
09/06/18	DMG & Partners	ST Engineering	3.26	3.97	Buy
09/10/18	UOB Kay Hian	ST Engineering	3.32	3.8	Buy	EV/Invested capital basis
09/14/18	DBS Vickers	ST Engineering	3.29	4.3	Buy
09/14/18	OCBC	ST Engineering	3.29	3.95	Buy
09/17/18	Kim Eng	ST Engineering	3.53	4.35	Buy	DCF
10/01/18	UOB Kay Hian	ST Engineering	3.56	4.06	Buy	EV/Invested capital & PER20.9x FY18
10/08/18	CIMB	ST Engineering	3.53	3.8	Add
11/02/18	UOB Kay Hian	ST Engineering	3.54	4.06	Buy	EV/Invested capital & PER20.9x FY19
11/05/18	DBS Vickers	ST Engineering	3.52	4.3	Buy
11/13/18	DMG & Partners	ST Engineering	3.5	3.97	Buy
11/15/18	DBS Vickers	ST Engineering	3.5	4.15	Buy	Sum of parts
11/15/18	Kim Eng	ST Engineering	3.5	4.35	Buy	DCF
11/15/18	CIMB	ST Engineering	3.5	3.94	Add	Sum of parts
11/29/18	OCBC	ST Engineering	3.5	3.95	Buy
12/10/18	UOB Kay Hian	ST Engineering	3.47	4.06	Buy
12/14/18	DMG & Partners	ST Engineering	3.47	3.97	Buy
01/02/19	DMG & Partners	ST Engineering	3.51	3.97	Buy
01/23/19	CIMB	ST Engineering	3.66	3.94	Add
01/31/19	UOB Kay Hian	ST Engineering	3.66	4.06	Buy
02/08/19	DBS Vickers	ST Engineering	3.75	4.15	Buy	Sum of parts
02/21/19	Lim & Tan	ST Engineering	3.77	0	Hold
02/22/19	OCBC	ST Engineering	3.71	4.01	Buy	FCFE
02/22/19	DMG & Partners	ST Engineering	3.71	4.1	Buy
02/22/19	UOB Kay Hian	ST Engineering	3.71	4.06	Buy
02/22/19	Kim Eng	ST Engineering	3.71	4.25	Buy	DCF
03/13/19	DMG & Partners	ST Engineering	3.74	4.1	Buy
03/26/19	CIMB	ST Engineering	3.75	4.08	Add
03/28/19	UOB Kay Hian	ST Engineering	3.75	4.06	Buy
03/28/19	Lim & Tan	ST Engineering	3.75	0	Hold
03/29/19	UOB Kay Hian	ST Engineering	3.73	4.4	Buy	EV/Invested capital basis
03/29/19	OCBC	ST Engineering	3.73	4.07	Buy
03/29/19	DBS Vickers	ST Engineering	3.73	4.15	Buy

SPH Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/02/18	Kim Eng	SPH Reit	1.05	1	Hold	DDM
01/08/18	CIMB	SPH Reit	1.07	1.06	Hold	DDM
01/08/18	Lim & Tan	SPH Reit	1.07	0	Hold
01/08/18	OCBC	SPH Reit	1.07	1.08	Hold
01/09/18	DBS Vickers	SPH Reit	1.07	1.07	Hold	DCF
04/09/18	CIMB	SPH Reit	1	1.06	Hold	DDM
04/09/18	OCBC	SPH Reit	1	1.02	Hold	DDM
04/09/18	DBS Vickers	SPH Reit	1	1.07	Buy	DCF
04/09/18	Lim & Tan	SPH Reit	1	1.06	Hold
04/09/18	Kim Eng	SPH Reit	1	1	Hold	DDM
05/02/18	DBS Vickers	SPH Reit	0.99	1.07	Buy
05/02/18	CIMB	SPH Reit	0.99	1.07	Hold	DDM
05/02/18	OCBC	SPH Reit	0.99	1.02	Hold
06/29/18	DBS Vickers	SPH Reit	0.99	1.07	Buy	DCF
07/06/18	DBS Vickers	SPH Reit	0.99	1.07	Buy
07/11/18	CIMB	SPH Reit	1	1.07	Hold	DDM
07/11/18	OCBC	SPH Reit	1	1.02	Hold
07/11/18	Lim & Tan	SPH Reit	1	0	Hold
07/13/18	Kim Eng	SPH Reit	1	1	Hold	DDM
10/12/18	CIMB	SPH Reit	0.985	1.03	Hold	DDM
10/12/18	DBS Vickers	SPH Reit	0.985	1.04	Buy	DCF
10/12/18	OCBC	SPH Reit	0.985	0.99	Hold
10/12/18	Lim & Tan	SPH Reit	0.985	0	Hold
11/16/18	CIMB	SPH Reit	1	1.01	Hold	DDM
12/19/18	CIMB	SPH Reit	1.01	1.02	Hold	DDM
12/19/18	Lim & Tan	SPH Reit	1.01	0	Hold
12/19/18	Kim Eng	SPH Reit	1.01	1.02	Hold	DDM
01/07/19	OCBC	SPH Reit	1.01	0.99	Hold
01/07/19	Kim Eng	SPH Reit	1.01	1.02	Hold	DDM
01/07/19	DBS Vickers	SPH Reit	1.01	1.05	Buy	DCF
01/07/19	Lim & Tan	SPH Reit	1.01	0	Hold
01/07/19	CIMB	SPH Reit	1.01	1.02	Hold	DDM

SPH - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/15/18	CIMB	SPH	2.63	2.49	Hold	Sum of parts, PER18.6x FY19
01/15/18	UOB Kay Hian	SPH	2.63	2.42	Sell	Sum of parts
01/15/18	Lim & Tan	SPH	2.63	0	Hold
01/16/18	DBS Vickers	SPH	2.71	2.78	Hold	Sum of parts
01/17/18	OCBC	SPH	2.71	2.51	Hold	Sum of parts (10% discount)
03/05/18	UOB Kay Hian	SPH	2.55	2.42	Sell
03/14/18	UOB Kay Hian	SPH	2.56	2.39	Sell	Sum of parts
04/11/18	UOB Kay Hian	SPH	2.49	2.41	Hold	Sum of parts, Buy @ $2.30
04/11/18	Lim & Tan	SPH	2.49	0	Hold
04/12/18	OCBC	SPH	2.49	2.52	Hold
04/12/18	DBS Vickers	SPH	2.49	2.6	Hold	Sum of parts
06/13/18	UOB Kay Hian	SPH	2.69	2.46	Hold	Buy @ $2.40
07/03/18	UOB Kay Hian	SPH	2.59	2.46	Hold
07/05/18	CIMB	SPH	2.59	2.85	Add	Sum of parts
07/06/18	DBS Vickers	SPH	2.67	2.6	Hold
07/12/18	DBS Vickers	SPH	2.75	2.58	Hold	Sum of parts
07/12/18	UOB Kay Hian	SPH	2.75	2.58	Hold	Sum of parts, Buy @ $2.40
07/12/18	Lim & Tan	SPH	2.75	0	Hold
07/13/18	OCBC	SPH	2.76	2.52	Hold
07/13/18	CIMB	SPH	2.76	2.88	Add	Sum of parts
09/04/18	UOB Kay Hian	SPH	2.81	2.58	Hold	DCF, Buy @ $2.45
09/10/18	DBS Vickers	SPH	2.73	2.58	Hold
09/11/18	OCBC	SPH	2.79	2.52	Hold
09/11/18	Lim & Tan	SPH	2.79	0	Hold
09/13/18	CIMB	SPH	2.74	2.88	Add	Sum of parts
10/16/18	OCBC	SPH	2.62	2.55	Hold
10/16/18	UOB Kay Hian	SPH	2.62	2.75	Hold	Buy @ $2.50
10/16/18	CIMB	SPH	2.62	2.74	Hold	Sum of parts
10/16/18	Lim & Tan	SPH	2.62	0	Hold
01/14/19	CIMB	SPH	2.49	2.64	Hold	Sum of parts
01/14/19	Lim & Tan	SPH	2.49	0	Hold
01/15/19	OCBC	SPH	2.47	2.55	Hold

Stock calls for 29 March 2019

Date	Analyst	Company	Last	Target	Call	Valuation
03/29/19	Lim & Tan	ART	1.18	0	Hold	BV
03/29/19	DBS Vickers	Jumbo	0.395	0.5	Buy	PER23x FY19/20
03/29/19	UOB Kay Hian	ST Engineering	3.73	4.4	Buy	EV/Invested capital basis
03/29/19	OCBC	ST Engineering	3.73	4.07	Buy
03/29/19	DBS Vickers	ST Engineering	3.73	4.15	Buy
03/29/19	DBS Vickers	Venture	17.8	21.7	Buy

Hyflux's white knight is trying to wiggle itself out of the deal.

https://sg.finance.yahoo.com/news/white-knight-investor-throws-singapores-083341266.html

Hahaha! The white knight is regretting its own decision to invest in Hyflux and wants a way out after realizing that Hyflux is beyond hope.

A big blow to Boeing!

https://www.news.com.au/travel/travel-advice/flights/inside-the-aircraft-boneyard-thats-now-housing-boeings-max-8s/news-story/00fd9b3a093893d2454e2a7fadd1d504

The US Southwest airlines will be sending its Boeing 737-Max planes to the remote desert graveyard for parking.  This means that Boeing 737-Max won't be returned to flying in the short run.

Furthermore, this move also shows that Boeing 737-Max is really an unsafe plane as it is expensive to park the planes in a desert graveyard.  The planes need to be sand-proof and the airline will also suffer from loss of incomes for not using the planes.

Spackman - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/16/18	DMG & Partners	Spackman	0.073	0.1	Buy	DCF, PER14x FY18