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Tuesday, April 9, 2019

United Global - Stock calls


Date Analyst Company Last Target Call Valuation
03/01/18 SAC Advisors United Global 0.41 0.5 Buy PER12.2x FY18

Stock calls for 9 April 2019


Date Analyst Company Last Target Call Valuation
04/09/19 Phillip ART 1.18 1.36 Buy DDM, PB0.94x FY19
04/09/19 DMG & Partners CDL Hospitality 1.67 1.8 Buy
04/09/19 CIMB First Resources 1.79 2.12 Add
04/09/19 OCBC Golden Agri 0.315 0.29 Hold PB0.65x
04/09/19 CIMB Golden Agri 0.315 0.23 Reduce
04/09/19 Kim Eng Hi-P 1.63 1.22 Sell PB1.5x FY19
04/09/19 CIMB Keppel DC Reit 1.48 1.54 Add DDM
04/09/19 DMG & Partners OUE Hospitality 0.735 0.76 Take Profit Accept offer
04/09/19 DBS Vickers OUE Hospitality 0.735 0.85 Buy
04/09/19 DBS Vickers Sembcorp Industries 2.75 3.9 Buy
04/09/19 Amfrasers Sembcorp Marine 1.7 2.48 Buy
04/09/19 DBS Vickers Sembcorp Marine 1.7 2.4 Buy
04/09/19 DBS Vickers Singtel 3.06 3.55 Buy Sum of parts
04/09/19 Amfrasers Uni-Asia 1.16 1.86 Buy Sum of parts, PB0.6x FY19, PER9.5x FY19
04/09/19 Kim Eng Valuetronics 0.7 1.05 Buy
04/09/19 OCBC Wilmar 3.49 3.44 Hold PB0.9x
04/09/19 CIMB Wilmar 3.49 3.96 Add

No Standard Chartered Bank ceo or cfo is arrested for violating US sanctions.

https://sg.news.yahoo.com/exclusive-standard-chartered-expected-pay-just-over-1-022444381--sector.html

Why is the bank ceo or cof not arrested for violating US sanction but Huawei cfo is arrested?

Why? Why? Why?

China wants to eliminate bitcoin mining.

https://sg.news.yahoo.com/china-says-wants-eliminate-bitcoin-mining-042048452--sector.html

Game over! China is eliminating bitcoin mining.  Maybe bitcoin mining is using too much energy in China that China wants to put a stop to it.  Maybe China wants to get out of this big Ponzi scheme and focus on real technology.  Anyway, this will force China miners to relocate to other countries and cause their electricity consumption to spike up.

Public distrust is eroding our society.

https://sg.news.yahoo.com/man-calls-improvement-emergency-response-092012100.html

Public distrust is eroding our society and causing residents to become apathy.

I use the word residents because we have a lot of foreigners in SG now.  Therefore, those who don't render help in public may not be Singaporeans.  Anyway, it doesn't pay to be a Samaritan in SG (read the post below).

http://sg-stock.blogspot.com/2018/01/it-doesnt-pay-to-be-samaritan-in.html

Central banks are adding gold to their reserves.

https://www.businessinsider.sg/gold-china-buying-spree-continues-as-central-banks-boost-demand-2019-4/

Central banks are adding gold to their reserves!

As gold is a non-yielding asset, it makes us wonder why the central banks around the world are adding gold to their reserves.  The traditional rationale is gold is a store of value and also a safe haven.  Therefore, the central banks' action is telling us that something is not right in the world economy.

Always watch what the central banks are doing and not what they're saying.  Seeing is believing!

Monday, April 8, 2019

United Engineers - Stock calls


Date Analyst Company Last Target Call Valuation
04/02/18 CIMB United Engineers 2.61 2.94 Add RNAV (15% discount)
05/08/18 CIMB United Engineers 2.67 2.94 Add RNAV (15% discount)

Uni-Asia - Stock calls


Date Analyst Company Last Target Call Valuation
03/16/18 Amfrasers Uni-Asia 1.45 1.81 Buy Sum of parts, PB0.5x FY18, PER10x FY18
05/22/18 Amfrasers Uni-Asia 1.4 1.81 Buy Sum of parts, PB0.5x FY18, PER10x FY18
06/06/18 Amfrasers Uni-Asia 1.41 2 Buy Sum of parts, PB0.55x FY18, PER11x FY18
08/23/18 Tayrona Uni-Asia 1.38 1.99 Overweight PB0.5x
03/14/19 Amfrasers Uni-Asia 1.2 2.07 Buy Sum of parts, PB0.6x FY19, PER9.5x FY19

UMS - Stock calls


Date Analyst Company Last Target Call Valuation
03/01/18 DBS Vickers UMS 1.16 1.37 Buy PER12x FY18
03/01/18 CIMB UMS 1.16 1.31 Add PB2.95x FY18
04/03/18 DBS Vickers UMS 1.13 1.37 Buy
05/14/18 DBS Vickers UMS 1.04 1.37 Buy PER12x FY19
05/15/18 CIMB UMS 1.07 1.21 Add PB2.81x
08/15/18 CIMB UMS 0.79 1.21 Add PB2.82x
08/15/18 DBS Vickers UMS 0.79 1.01 Buy PER10x FY19
08/28/18 DBS Vickers UMS 0.825 0.86 Hold PER10x FY19
11/14/18 CIMB UMS 0.715 0.75 Hold PB1.72x
11/14/18 DBS Vickers UMS 0.715 0.55 Fully Valued PER8x FY19
02/26/19 DBS Vickers UMS 0.71 0.55 Fully Valued PER8x FY19
02/28/19 CIMB UMS 0.74 0.62 Reduce PB1.37x CY19

Stock calls for 8 April 2019


Date Analyst Company Last Target Call Valuation
04/08/19 UOB Kay Hian Bumitama 0.725 0.81 Buy
04/08/19 DBS Vickers Frasers Commercial Trust 1.47 1.7 Buy
04/08/19 DBS Vickers Frasers Property 1.81 1.98 Buy
04/08/19 Amfrasers Keppel DC Reit 1.47 1.62 Buy DDM
04/08/19 UOB Kay Hian Koufu 0.805 0.95 Buy
04/08/19 CIMB Singapore Post 1.03 1.2 Add DCF, PER18.2x FY21
04/08/19 Kim Eng SPH Reit 1.06 1.05 Hold DDM
04/08/19 CIMB SPH Reit 1.06 1.08 Hold DDM
04/08/19 OCBC SPH Reit 1.06 1 Hold
04/08/19 DBS Vickers SPH Reit 1.06 1.15 Buy DCF
04/08/19 UOB Kay Hian Wilmar 3.48 3.9 Buy

Saturday, April 6, 2019

USA is gearing up for USD depreciation. - Part 3

https://sg.finance.yahoo.com/news/trump-urges-fed-lower-u-interest-rates-151125758--business.html

We've stated previously that the US had to depreciate its USD to deflate its debt pressure.  The latest statistics from IIF showed that the total US debt had exceeded US$68T.

http://sg-stock.blogspot.com/2019/04/omg-total-us-debt-has-exceeded-us68t.html

I think Trump is really getting antsy and is pressurizing FED to lower interest rates now.

http://sg-stock.blogspot.com/2019/03/usa-is-gearing-up-for-usd-depreciation.html

I've learnt in life that it is better to believe in what people do than what people say and this is especially true in economics.  After all, seeing is believing, isn't it?

The FED has changed its hawkish stance to a super-dovish stance for this year and indicated that there won't be any rate hike in 2019.  This is a crystal clear signal that the US economy is slowing down despite Trump saying that the US economy is strong.


US has proven that India is a liar. Hahaha!

https://sg.news.yahoo.com/report-says-u-count-shows-no-pakistan-f-065958102--finance.html

India proclaimed that it shot down Pakistan F16 but the US had verified with a stock count that Pakistan didn't lose any F16.

India has no credibility at all!

Baltic dry index - 711

Today, Friday, April 05 2019, the Baltic Dry Index climbed by 12 points, reaching 711 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 - 1025

The US drilling rig count climbed 19 units to reach 1,025 rigs working for the week ended Apr. 5, according to Baker Hughes data. The count is up 22 units from the 1,003 rigs working this time a year ago.

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

Related stocks: Keppel Corp, Sembcorp Marine & Cosco.

Friday, April 5, 2019

The US economy has flipped and fissures have appeared in some economic data.

Let's suss out the health of the US economy by understanding first how the real economy actually works.

The real economy works in the following ways:

Inflation/Deflation ---->> Monetary policy ----->> Economic activities ----->> Country's growth

The aforesaid process is depicted in layman terminology for easy understanding.  When inflation or deflation is detected, the government will tweak its monetary policy accordingly and this will impact the economic activities to achieve the desired country's growth.

In economic terminology, the process is depicted as follow:

CPI/PPI ----->> M1-M2 spread/3m-10y yield spread ----->> PMI ----->> GDP

Since PMI is a leading indicator of the GDP, we will focus on dissecting the PMI to extrapolate US future GDP growth.

I've charted the manufacturing PMI process for easy reference as follow:
The headline manufacturing PMI is made up of 5 sub-indices: New orders, output, employment, suppliers' deliveries and stocks of purchases (inventories).

IHS PMI (USA)

The IHS/Markit US Manufacturing PMI was revised slightly lower to 52.4 in March of 2019 from a preliminary of 52.5 and 53 in February. The reading pointed to the slowest growth in factory activity since June of 2017, amid softer increases in output and new orders. Yet, Q1 average was the lowest since Q3 2017. 

The IHS PMI (USA) is showing continuous declines but we will focus on ISM which is the official PMI.


ISM PMI (USA)

The ISM Manufacturing PMI in the US rose to 55.3 in March of 2019 from 54.2 in February which was the lowest reading since November of 2016. It compares with market expectations of 54.5. Faster increases were seen for new orders, production and employment.


Since the new orders are made up of new export order and local order, the US internal(local) order is growing at (1.9% - -1.1%) = +3%. Wow! At first glance, it looks like the US is having tremendous growth since the PMI is at 55.3% and the new local order is growing at 3%.

However, if we delve deeper and look at other sub-indices, we can spot some discrepancy.  We will also try to figure out the cause for the local order to grow so well.

The new orders are growing at +1.9% but the production is only growing at half the rate of +1%.  Why?  This is because the customers' inventories have increased due to the net effect of neutral growth in orders (1.9% + -1.9% = 0).  The lower production growth (1% compared to new order 1.9%) also impacts the supplier's deliveries with the growth of -0.7%.  The overall phenomenon is a reflection of weak retail sales and durable goods orders.

US retail sales

US retail trade fell by 0.2 percent from a month earlier in February 2019, following an upwardly revised 0.7 percent growth in January and missing market expectations of a 0.3 percent gain. Sales fell for furniture, clothing, food and electronics and appliances, as well as building materials and gardening equipment. Retail Sales MoM in the United States averaged 0.35 percent from 1992 until 2019, reaching an all time high of 6.70 percent in October of 2001 and a record low of -3.90 percent in November of 2008.

The weak retail sales figure deserves some attention because the durable goods purchases are falling.  The consumers and corporations are cutting back on durable goods purchases because of the bleak economic outlook.

Durable goods orders

New orders for US manufactured durable goods slumped 1.6 percent from a month earlier in February 2019, following a downwardly revised 0.1 percent gain in January and compared to market expectations of a 1.8 percent fall. Transportation equipment drove the decrease. Durable Goods Orders in the United States averaged 0.33 percent from 1992 until 2019, reaching an all time high of 23.50 percent in July of 2014 and a record low of -19 percent in August of 2014.


Durable goods orders ex-defence

New orders for US manufactured durable goods excluding defense fell 1.9 percent from a month earlier in February 2019, after a downwardly revised 0.4 percent growth in January and missing market expectations of a 0.1 percent gain. It is the largest decrease since January 2018. Durable Goods Orders Ex Defense in the United States averaged 0.32 percent from 1992 until 2019, reaching an all time high of 26 percent in July of 2014 and a record low of -19.70 percent in August of 2014.


US car sales

US car sales also fall by 2.5%.

The whole picture is telling us that defense spending is helping to hold up the economy but the private sector spending is declining.  Therefore, we are expecting the employment figure in the PMI to fall alongside the supplier's deliveries in the future because of the slowdown.  The private sector slowdown is also causing the imports and inventories to decline in the PMI.

The headline PMI may look good but the underlying sub-indices are showing otherwise.

In conclusion, we are expecting the US GDP to decline in the future unless the sub-indices in the PMI start to improve.  

Is US economy as strong as Trump purported?

https://www.channelnewsasia.com/news/business/trump-says-us-economy-strong-despite--destructive-actions--by-fed-11413214

We'll give you an update later with a post titled "The US economy has flipped and fissures have appeared in some economic data".

If the US economy is as strong as Trump purported, he won't be in such a hurry to conclude the US-China deal in 4 weeks.

https://www.channelnewsasia.com/news/business/trump-says-us-china-trade-deal-could-be-announced-in-about-four-11414694

UG Healthcare - Stock calls


Date Analyst Company Last Target Call Valuation
04/24/18 DMG & Partners UG Healthcare 0.198 0.32 Buy PER14x FY19
05/14/18 DMG & Partners UG Healthcare 0.205 0.32 Buy PER14x FY19
08/24/18 Lim & Tan UG Healthcare 0.23 0 Buy
08/27/18 DMG & Partners UG Healthcare 0.22 0.32 Buy PER12x FY19
11/14/18 DMG & Partners UG Healthcare 0.215 0.32 Buy PER12x FY19
03/11/19 DMG & Partners UG Healthcare 0.205 0.32 Buy PER10x FY20

Tuan Sing - Stock calls


Date Analyst Company Last Target Call Valuation
01/15/18 UOB Kay Hian Tuan Sing 0.49 0.71 Buy
01/29/18 UOB Kay Hian Tuan Sing 0.48 0.71 Buy Sum of parts
01/29/19 Amfrasers Tuan Sing 0.395 0.46 Not Rated RNAV (50% discount)

Trendlines - Stock calls


Date Analyst Company Last Target Call Valuation
06/28/18 Tayona Trendlines 0.119 0.225 Overweight

Stock calls for 5 April 2019


Date Analyst Company Last Target Call Valuation
04/05/19 DMG & Partners Best World 2.02 2.95 Buy
04/05/19 DMG & Partners Breadtalk 0.87 0.81 Neutral
04/05/19 DMG & Partners Dairy Farm 8.14 8.25 Buy
04/05/19 DMG & Partners Delfi 1.3 1.68 Buy
04/05/19 DBS Vickers Ezion 0.043 0.05 Hold PB1.4x
04/05/19 DMG & Partners Food Empire 0.56 0.69 Buy
04/05/19 DMG & Partners Japan Foods 0.435 0.45 Neutral
04/05/19 DMG & Partners Kimly 0.24 0.24 Neutral
04/05/19 DMG & Partners Mindchamps 0.655 0.87 Buy
04/05/19 DMG & Partners SGX 7.42 8.1 Buy PER23x FY20
04/05/19 DMG & Partners Sheng Siong 1.04 1.25 Buy
04/05/19 DMG & Partners Thai Beverage 0.825 0.92 Buy
04/05/19 CIMB Yongnam 0.186 0.33 Add PB0.7x FY19

Omg! The total US debt has exceeded US$68T!

https://sg.finance.yahoo.com/news/chart-day-mountain-us-debt-215521744.html

The total US debt has exceeded US$68T which is close to 330% of US GDP.

How long do you think this debt play can carry on?


The US media has highlighted Italy's economic situation after JPM's bearish reports

https://finance.yahoo.com/news/euro-2-7-trillion-italy-040116651.html

I can sense something is brewing.  The US media is starting to highlight Italy's economic problem now after JPM's bearish Lira and Euro reports.  The duel between the EU and the US has begun.

After we reported AFC might be replaying in the Middle East and Europe, the US financial firms and media had upped their ante with their bearish outlooks on Europe.

http://sg-stock.blogspot.com/2019/04/1997-asian-financial-crisis-is.html

The EU must come up with a bigger TLTRO this year or Italy will be in deep trouble that will pull the whole Europe down into the abyss.

http://sg-stock.blogspot.com/2019/03/what-is-targeted-longer-term.html

Thursday, April 4, 2019

Top Glove - Stock calls


Date Analyst Company Last Target Call Valuation
06/20/18 Lim & Tan Top Glove 3.88 0 Hold
06/22/18 Kim Eng Top Glove 3.81 4.4 Buy
07/11/18 Kim Eng Top Glove 3.4 4.36 Hold Ringgit target $12.90, PER30x FY19
03/11/19 Kim Eng Top Glove 1.5 1.53 Hold Ringgit target $4.60, PER24x CY20

Tianjin Zhongxin - Stock calls


Date Analyst Company Last Target Call Valuation
01/03/18 UOB Kay Hian Tianjin Zhongxin 0.945 1.52 Buy PER14.1x FY18
04/02/18 UOB Kay Hian Tianjin Zhongxin 0.92 1.66 Buy PER14.1x FY18
04/30/18 UOB Kay Hian Tianjin Zhongxin 1.01 1.72 Buy PER14.1x FY18
05/21/18 UOB Kay Hian Tianjin Zhongxin 1.2 1.72 Buy PER14.1x FY18
06/04/18 UOB Kay Hian Tianjin Zhongxin 1.21 1.72 Buy
07/13/18 UOB Kay Hian Tianjin Zhongxin 1.12 1.72 Buy
09/14/18 UOB Kay Hian Tianjin Zhongxin 0.915 1.59 Buy
10/31/18 UOB Kay Hian Tianjin Zhongxin 0.895 1.59 Buy PER14.1x FY18
04/01/19 UOB Kay Hian Tianjin Zhongxin 0.915 1.7 Buy PER13.6x FY19

Thai Beverage - Stock calls


Date Analyst Company Last Target Call Valuation
01/04/18 UOB Kay Hian Thai Beverage 0.915 1.11 Buy Sum of parts
01/11/18 OCBC Thai Beverage 0.93 1.07 Buy
01/23/18 Nomura Thai Beverage 0.92 1.13 Buy
01/23/18 DBS Vickers Thai Beverage 0.92 1.07 Buy
01/23/18 CIMB Thai Beverage 0.92 1 Hold
02/01/18 UOB Kay Hian Thai Beverage 0.92 1.06 Buy Sum of parts
02/15/18 UOB Kay Hian Thai Beverage 0.91 0.99 Hold Sum of parts, Buy @ $0.84
02/15/18 CIMB Thai Beverage 0.91 0.98 Hold Sum of parts, PER21.8x CY18
02/19/18 DBS Vickers Thai Beverage 0.85 1.02 Buy Sum of parts
02/22/18 Phillip Thai Beverage 0.835 1.05 Buy Sum of parts
03/05/18 OCBC Thai Beverage 0.825 0.95 Buy
03/19/18 Phillip Thai Beverage 0.815 1.05 Buy
03/26/18 DBS Vickers Thai Beverage 0.805 1.02 Buy
04/16/18 Phillip Thai Beverage 0.8 1.05 Buy
05/10/18 DMG & Partners Thai Beverage 0.83 1.06 Buy Sum of parts
05/16/18 DBS Vickers Thai Beverage 0.8 1.02 Buy
05/17/18 Phillip Thai Beverage 0.795 1.05 Buy Sum of parts
05/17/18 CIMB Thai Beverage 0.795 0.98 Add Sum of parts
05/17/18 OCBC Thai Beverage 0.795 0.95 Buy
06/11/18 CIMB Thai Beverage 0.77 0.98 Add
06/22/18 DMG & Partners Thai Beverage 0.77 1.06 Buy
06/22/18 JP Morgan Thai Beverage 0.77 0.73 Underweight
07/03/18 UOB Kay Hian Thai Beverage 0.7 0.99 Buy
07/12/18 DMG & Partners Thai Beverage 0.725 1.02 Buy Sum of parts
07/25/18 DBS Vickers Thai Beverage 0.74 0.94 Buy Sum of parts
08/15/18 DBS Vickers Thai Beverage 0.7 0.94 Buy Sum of parts
08/15/18 JP Morgan Thai Beverage 0.7 0.64 Underweight
08/16/18 CIMB Thai Beverage 0.68 0.88 Add Sum of parts
08/16/18 DMG & Partners Thai Beverage 0.68 0.88 Buy Sum of parts
08/16/18 OCBC Thai Beverage 0.68 0.89 Buy
08/20/18 Phillip Thai Beverage 0.645 0.62 Reduce Sum of parts
09/04/18 Goldman Sachs Thai Beverage 0.645 0.74 Buy Cut from $0.94
09/04/18 JP Morgan Thai Beverage 0.645 0.64 Underweight
09/14/18 CIMB Thai Beverage 0.62 0.88 Add
09/18/18 Amfrasers Thai Beverage 0.65 0.75 Buy Sum of parts
09/20/18 DBS Vickers Thai Beverage 0.65 0.94 Buy
09/21/18 DMG & Partners Thai Beverage 0.67 0.88 Buy
10/02/18 Amfrasers Thai Beverage 0.665 0.75 Buy Sum of parts
10/04/18 UOB Kay Hian Thai Beverage 0.71 0.84 Buy Sum of parts
10/26/18 Exotix Capital Thai Beverage 0.63 0.9 Buy
11/02/18 UOB Kay Hian Thai Beverage 0.635 0.84 Buy
11/05/18 DBS Vickers Thai Beverage 0.655 0.94 Buy
11/13/18 Amfrasers Thai Beverage 0.65 0.75 Buy Sum of parts
11/27/18 CIMB Thai Beverage 0.67 0.88 Add Sum of parts
11/27/18 DBS Vickers Thai Beverage 0.67 0.87 Buy Sum of parts
11/27/18 OCBC Thai Beverage 0.67 0.85 Buy
11/28/18 Phillip Thai Beverage 0.63 0.57 Reduce Sum of parts
11/28/18 UOB Kay Hian Thai Beverage 0.63 0.8 Buy Sum of parts
11/28/18 DMG & Partners Thai Beverage 0.63 0.75 Buy Sum of parts
11/28/18 CIMB Thai Beverage 0.63 0.73 Add Sum of parts, PER17x
12/05/18 Amfrasers Thai Beverage 0.625 0.75 Buy Sum of parts
01/04/18 UOB Kay Hian Thai Beverage 0.59 0.8 Buy Sum of parts
01/18/19 DMG & Partners Thai Beverage 0.715 0.85 Buy Sum of parts
02/13/19 CIMB Thai Beverage 0.72 0.83 Add Sum of parts
02/15/19 DBS Vickers Thai Beverage 0.72 0.87 Buy
02/18/19 UOB Kay Hian Thai Beverage 0.815 0.86 Hold Sum of parts, buy @ $0.76
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
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
02/27/19 DBS Vickers Thai Beverage 0.81 0.94 Buy
03/14/19 UOB Kay Hian Thai Beverage 0.805 0.86 Hold Sum of parts, Buy @ $0.78

Stock calls for 4 April 2019


Date Analyst Company Last Target Call Valuation
04/04/19 Kim Eng A-Reit 2.93 3.1 Buy
04/04/19 Amfrasers Accordia Golf Trust 0.59 0.72 Buy
04/04/19 DMG & Partners APAC Realty 0.615 0.72 Buy RNAV
04/04/19 Kim Eng Capitamall Trust 2.41 2.4 Hold
04/04/19 Kim Eng CDL Hospitality 1.65 1.85 Buy
04/04/19 DMG & Partners City Developments 9.31 9.2 Neutral
04/04/19 Kim Eng Frasers Centrepoint Trust 2.36 2.6 Buy
04/04/19 UOB Kay Hian Genting 1.07 1.29 Buy
04/04/19 DMG & Partners Genting 1.07 1.08 Neutral DCF
04/04/19 CIMB Genting 1.07 1.11 Add EV/Ebitda8x
04/04/19 OCBC Genting 1.07 1.31 Buy
04/04/19 DBS Vickers Genting 1.07 1.54 Buy EV/Ebitda 12x
04/04/19 Kim Eng Genting 1.07 1.12 Hold
04/04/19 CIMB Grand Venture 0.25 0.34 Add PER10x FY20
04/04/19 Kim Eng Mapletree Commercial 1.87 1.8 Hold
04/04/19 Kim Eng Mapletree Industrial 2.11 2.25 Buy
04/04/19 OCBC Singapore Post 0.995 1 Hold

Here we go again! Mahathir is at it again!

https://www.straitstimes.com/asia/se-asia/malaysia-pm-mahathir-mohamad-puzzled-why-johor-crown-prince-unaware-of-upcoming-ship-to

No country in its right mind will do a ship-to-ship (STS) transfer within its territorial water when cargoes loading and unloading can be done on a land port.  A ship-to-ship transfer is usually conducted for illegal trading.  Is Mahathir trying to encourage illegal trading?

Mahathir is trying to skin SG again but he cannot do it without JB Sultan's permission.  Given the cordial relationship between JB Sultan and SG government, Mahathir knows that he cannot get the support from JB Sultan.  Therefore, Mahathir is mooting a ship-to-ship transfer in the sea instead of doing it on the land port.  This ship-to-ship transfer project won't succeed without China's support as close to 80% of the ships plying through the strait of Malacca are from China.

http://sg-stock.blogspot.com/2016/07/china-is-building-port-in-malacca-so.html

China and Malaysia are at loggerheads now and China won't support this stupid JB STS transfer project as the Malacca gateway project is at a roadblock now.

Hyflux is officially bankrupt now!

https://www.straitstimes.com/business/companies-markets/hyflux-says-rescue-deal-with-indonesian-investor-terminated-cancels

The Indonesian white knight has pulled out.  Nobody wants hyflux now!

PUB will do a hostile takeover of tuaspring at zero cost since hyflux cannot resolve its on-going concern issue.

Hyflux, RIP!

Wednesday, April 3, 2019

1997 Asian financial crisis is replaying in the Middle East now. Here's why! - Part 2

http://sg-stock.blogspot.com/2019/03/1997-asian-financial-crisis-is.html

After our first posting about an Asian financial crisis happening in the Middle East, the EU expressed its concern about Italy economic situation in response to JPM's lira report.

https://sg-stock.blogspot.com/2019/04/eu-is-trying-to-stop-asian-financial.html

Then, JPM is hitting back at the EU by spreading the Euro depreciation fear.  Don't forget that Italy is using Euro and a weak Euro is bad for Italy. Hahaha!

https://www.reuters.com/article/us-eurozone-markets-jpmorgan/backpedaling-ecb-could-push-euro-under-1-10-jp-morgan-am-idUSKCN1RF0TC

It looks like JPM is feeling disgruntled that the EU is trying to thwart JPM's money-making plan.

Boeing saga! - Part 2

https://www.channelnewsasia.com/news/business/us-senate-panel-reviewing-whistleblower-claims-on-aviation-safety--panel-chair-11406316

More juicy stories are coming out from Boeing! No wonder the US Southwest Airlines is sending all its 737-Max to a desert graveyard.

http://sg-stock.blogspot.com/2019/03/a-big-blow-to-boeing.html


Global inflation or deflation? - Part 3

https://www.bloomberg.com/news/articles/2019-04-03/fed-risks-fomenting-financial-bubbles-in-zeal-to-lift-inflation

The Bloomberg article corroborates our analysis that the US Fed is trying to create inflation.  For more information about the rationale behind the inflation theory, please read our post below.

http://sg-stock.blogspot.com/2019/03/global-inflation-or-deflation-part-2.html

However, we have taken cognizant that the US financial firms are trying to create a financial crisis in the Middle East and Europe.  If the financial crisis happens, it will invalidate the current Fed policies.