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Wednesday, September 18, 2019

Soilbuild Reit - Stock calls

Date Analyst Company Last Target Call Valuation
01/23/19 DBS Vickers Soilbuild Reit 0.62 0.65 Buy DCF
01/23/19 OCBC Soilbuild Reit 0.62 0.62 Hold
01/23/19 Jefferies Soilbuild Reit 0.62 0.62 Hold
04/22/19 OCBC Soilbuild Reit 0.63 0.62 Hold
04/22/19 DBS Vickers Soilbuild Reit 0.63 0.63 Hold DCF
05/31/19 OCBC Soilbuild Reit 0.6 0.62 Hold
07/17/19 Amfrasers Soilbuild Reit 0.615 0.609 Neutral DDM
07/18/19 Lim & Tan Soilbuild Reit 0.61 0 Hold
07/19/19 UOB Kay Hian Soilbuild Reit 0.615 0.6 Hold
07/19/19 DBS Vickers Soilbuild Reit 0.615 0.63 Hold DCF
09/03/19 OCBC Soilbuild Reit 0.55 0.58 Accept offer

Singtel - Stock calls

Date Analyst Company Last Target Call Valuation
01/02/19 UOB Kay Hian Singtel 2.83 3.58 Buy DCF
01/02/19 Kim Eng Singtel 2.83 3.39 Hold
01/04/19 Phillip Singtel 2.86 3.4 Buy Sum of parts
01/14/19 DMG & Partners Singtel 3.05 3.22 Neutral
01/15/19 DBS Vickers Singtel 3.05 3.59 Buy Sum of parts
02/08/19 UOB Kay Hian Singtel 3.05 3.58 Buy
02/12/19 DBS Vickers Singtel 3.05 3.5 Buy Sum of parts
02/12/19 Kim Eng Singtel 3.05 3.39 Hold Sum of parts
02/15/19 OCBC Singtel 3.03 3.79 Buy
02/15/19 DMG & Partners Singtel 3.03 3.22 Neutral Sum of parts
02/18/19 Phillip Singtel 2.99 3.27 Accumulate Sum of parts
02/18/19 CIMB Singtel 2.99 3.4 Add Sum of parts
03/11/19 OCBC Singtel 2.94 3.79 Buy
03/11/19 DMG & Partners Singtel 2.94 3.09 Neutral Sum of parts
03/11/19 Lim & Tan Singtel 2.94 0 Hold
03/12/19 CIMB Singtel 2.93 3.4 Add Sum of parts
03/21/19 UOB Kay Hian Singtel 2.99 3.58 Buy DCF
03/22/19 DMG & Partners Singtel 2.97 3.06 Neutral
03/26/19 CIMB Singtel 2.97 3.3 Add Sum of parts
04/01/19 Kim Eng Singtel 3.02 3.39 Hold
04/09/19 DBS Vickers Singtel 3.06 3.55 Buy Sum of parts
05/09/19 DBS Vickers Singtel 3.11 3.55 Buy Sum of parts
05/16/19 DMG & Partners Singtel 3.13 3.35 Neutral Sum of parts
05/16/19 OCBC Singtel 3.13 3.59 Buy
05/16/19 CIMB Singtel 3.13 3.4 Add Sum of parts
05/16/19 UOB Kay Hian Singtel 3.13 3.58 Buy
05/16/19 Kim Eng Singtel 3.13 3.37 Hold Sum of parts
05/17/19 Phillip Singtel 3.14 3.31 Accumulate Sum of parts, EV/Ebitda7x FY20
06/03/19 Phillip Singtel 3.2 3.66 Buy EV/Ebitda7x FY20
06/06/19 DMG & Partners Singtel 3.21 3.35 Neutral
06/06/19 DBS Vickers Singtel 3.21 3.55 Buy
06/13/19 UOB Kay Hian Singtel 3.32 3.58 Buy DCF
06/13/19 Kim Eng Singtel 3.32 3.48 Hold Sum of parts
06/14/19 CIMB Singtel 3.35 3.5 Add Sum of parts
07/08/19 DBS Vickers Singtel 3.56 3.6 Hold Sum of parts
07/15/19 Phillip Singtel 3.54 3.66 Accumulate Sum of parts
07/23/19 DMG & Partners Singtel 3.52 3.4 Neutral Sum of parts
08/07/19 DBS Vickers Singtel 3.52 3.4 Hold Sum of parts
08/08/19 Kim Eng Singtel 3.29 3.44 Hold Sum of parts
08/13/19 Phillip Singtel 3.26 3.45 Accumulate Sum of parts
08/13/19 DMG & Partners Singtel 3.26 3.4 Neutral Sum of parts
08/13/19 CIMB Singtel 3.26 3.6 Add Sum of parts
08/13/19 UOB Kay Hian Singtel 3.26 3.32 Hold DCF, Buy @ $3
08/13/19 DBS Vickers Singtel 3.26 3.25 Hold EV/Ebitda6.3x
08/14/19 OCBC Singtel 3.18 3.61 Buy

Singapore Post - Stock calls

Date Analyst Company Last Target Call Valuation
02/04/19 UOB Kay Hian Singapore Post 0.965 1.04 Hold Sum of parts
02/04/19 CIMB Singapore Post 0.965 1.03 Hold DCF
02/04/19 DBS Vickers Singapore Post 0.965 0.92 Hold DCF
02/04/19 Lim & Tan Singapore Post 0.965 0 Hold
02/04/19 OCBC Singapore Post 0.965 1.23 Buy
02/08/19 OCBC Singapore Post 0.955 1 Hold
02/08/19 CLSA Singapore Post 0.955 1.17 Buy
04/04/19 OCBC Singapore Post 0.995 1 Hold
04/08/19 CIMB Singapore Post 1.03 1.2 Add DCF, PER18.2x FY21
05/08/19 OCBC Singapore Post 1.01 1 Hold
05/08/19 CIMB Singapore Post 1.01 1.17 Add DCF
05/08/19 DBS Vickers Singapore Post 1.01 0.96 Hold DCF
05/09/19 UOB Kay Hian Singapore Post 0.99 1.06 Hold Buy @ $0.95
07/02/19 UOB Kay Hian Singapore Post 0.965 1.04 Hold Sum of parts, Buy @ $0.88
08/05/19 UOB Kay Hian Singapore Post 0.965 1.04 Hold Sum of parts
08/05/19 DBS Vickers Singapore Post 0.965 0.96 Hold
08/05/19 Lim & Tan Singapore Post 0.965 0 Hold
08/07/19 OCBC Singapore Post 0.945 1 Hold

Stock calls for 18 September 2019

Date Analyst Company Last Target Call Valuation
09/18/19 CIMB Keppel DC Reit 1.93 1.82 Hold DDM
09/18/19 DBS Vickers Mapletree Logistics 1.58 1.85 Buy
09/18/19 DMG & Partners Sembcorp Industries 2.22 2.68 Buy Sum of parts, PER9.9x FY20
09/18/19 UOB Kay Hian ST Engineering 3.9 4.34 Buy

Tuesday, September 17, 2019

China slaughtered shortsellers including George Soros in HK stock market.

https://www.scmp.com/business/companies/article/3027729/investors-shorting-hang-seng-index-might-have-lost-much-hk124

China won again!  George Soros had not learnt his lesson from the AFC.  China used state agencies to prop up the HK stock market through the HK stock-connect route.  Many foreign investors didn't understand that the HK stock-connect route was set up as an economic and political system.  However, they've learnt this lesson now.

Singapore Nodx fell 8.9% in August 2019.

https://www.businesstimes.com.sg/government-economy/singapores-non-oil-domestic-exports-down-89-in-august

Year on year changes (YOY):
August 2019: - 8.9%
July 2019: -11.2%
June 2019: -17.3%
May 2019: -15.9%
April 2019: -10%
March 2019: -11.7%
February 2019: 4.9%
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%

Singapore O&G - Stock calls

Date Analyst Company Last Target Call Valuation
01/23/19 phillip Singapore O&G 0.34 0.42 Buy
02/21/19 phillip Singapore O&G 0.355 0 Cease Coverage

Singapore Medical - Stock calls

Date Analyst Company Last Target Call Valuation
01/02/19 DMG & Partners Singapore Medical 0.4 0.56 Buy
02/21/19 UOB Kay Hian Singapore Medical 0.47 0.65 Buy PER23x FY19
02/21/19 DMG & Partners Singapore Medical 0.47 0.54 Buy DCF
05/10/19 UOB Kay Hian Singapore Medical 0.445 0.62 Buy PER23x FY19
05/10/19 DMG & Partners Singapore Medical 0.445 0.48 Neutral DCF
06/06/19 DMG & Partners Singapore Medical 0.385 0.48 Neutral DCF
06/07/19 DMG & Partners Singapore Medical 0.38 0.48 Buy DCF
08/08/19 DMG & Partners Singapore Medical 0.37 0.48 Buy DCF

Silverlake - Stock calls

Date Analyst Company Last Target Call Valuation
01/02/19 DMG & Partners Silverlake 0.415 0.65 Buy DCF
01/03/19 DBS Vickers Silverlake 0.405 0.6 Buy PER21x FY19
01/07/19 DBS Vickers Silverlake 0.425 0.62 Buy PER21x FY19
02/01/19 DMG & Partners Silverlake 0.485 0.65 Buy DCF
02/15/19 DBS Vickers Silverlake 0.515 0.62 Buy PER21x FY19
03/01/19 CIMB Silverlake 0.57 0.62 Add Sum of parts, PER19x CY20
03/13/19 DMG & Partners Silverlake 0.555 0.65 Buy DCF
05/07/19 DMG & Partners Silverlake 0.61 0.65 Buy DCF
05/16/19 DBS Vickers Silverlake 0.52 0.63 Buy PER21x FY19
05/16/19 CIMB Silverlake 0.52 0.58 Add
06/06/19 DMG & Partners Silverlake 0.53 0.65 Buy DCF
08/01/19 DMG & Partners Silverlake 0.52 0.65 Buy DCF
08/26/19 CIMB Silverlake 0.51 0.53 Hold
08/26/19 DBS Vickers Silverlake 0.51 0.6 Buy PER21x FY20
09/05/19 DMG & Partners Silverlake 0.455 0.56 Buy DCF

Stock calls for 17 September 2019

Date Analyst Company Last Target Call Valuation
09/17/19 OCBC Keppel DC Reit 1.8 2.08 Buy DDM
09/17/19 Amfrasers Keppel DC Reit 1.8 1.95 Outperform
09/17/19 OCBC Mapletree Industrial 2.33 2.29 Hold
09/17/19 DMG & Partners Unusual 0.28 0.42 Buy DCF

Monday, September 16, 2019

SIIC - Stock calls

Date Analyst Company Last Target Call Valuation
01/21/19 DBS Vickers SIIC 0.29 0.32 Hold PER13x FY19
08/13/19 DBS Vickers SIIC 0.235 0.265 Hold

SIA Engineering - Stock calls

Date Analyst Company Last Target Call Valuation
01/07/19 UOB Kay Hian SIA Engineering 2.39 2.7 Buy DCF
02/11/19 Kim Eng SIA Engineering 2.52 2.85 Buy DCF
02/11/19 OCBC SIA Engineering 2.52 2.47 Hold
02/11/19 phillip SIA Engineering 2.52 2.66 Neutral DCF
02/11/19 UOB Kay Hian SIA Engineering 2.52 2.55 Hold
02/12/19 CIMB SIA Engineering 2.39 3.11 Add DCF
02/12/19 DBS Vickers SIA Engineering 2.39 2.7 Hold DCF & PER16x FY20 & Div Yield 4.5% & EV/Ebitda11x
04/15/19 Kim Eng SIA Engineering 2.49 2.85 Buy
05/14/19 Kim Eng SIA Engineering 2.43 2.85 Buy DCF
05/14/19 OCBC SIA Engineering 2.43 2.43 Hold
05/14/19 UOB Kay Hian SIA Engineering 2.43 2.55 Hold Buy @ $2.30
05/14/19 DBS Vickers SIA Engineering 2.43 2.6 Hold Sum of parts
05/14/19 CIMB SIA Engineering 2.43 3.11 Add
07/02/19 Kim Eng SIA Engineering 2.51 2.85 Buy
07/05/19 DBS Vickers SIA Engineering 2.72 3.01 Buy
07/08/19 CIMB SIA Engineering 2.89 3.11 Add DCF
07/29/19 UOB Kay Hian SIA Engineering 2.65 2.55 Hold DCF, Buy @ $2.40
07/29/19 OCBC SIA Engineering 2.65 2.43 Hold
07/30/19 Kim Eng SIA Engineering 2.68 2.85 Hold
09/02/19 Kim Eng SIA Engineering 2.43 2.85 Buy DCF

SIA - Stock calls

Date Analyst Company Last Target Call Valuation
01/17/19 UOB Kay Hian SIA 9.76 10.2 Hold Sum of parts, Buy @ $9
01/24/19 Kim Eng SIA 9.5 11.2 Buy PB0.94x
01/24/19 CIMB SIA 9.5 10.25 Hold PB0.9x CY19
02/15/19 CIMB SIA 9.87 10.25 Hold PB0.9x CY19
02/15/19 DBS Vickers SIA 9.87 11 Buy PB0.9x FY20
02/15/19 Lim & Tan SIA 9.87 0 Hold
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 Buy @ $9.50
02/18/19 OCBC SIA 9.76 10.71 Buy
03/19/19 CIMB SIA 9.83 10.25 Hold
03/19/19 UOB Kay Hian SIA 9.83 10.1 Hold Buy @ $9
04/16/19 UOB Kay Hian SIA 9.88 10.1 Hold Sum of parts
04/16/19 OCBC SIA 9.88 11.02 Buy
05/17/19 CIMB SIA 9.4 10.14 Hold PB0.9x CY19
05/21/19 OCBC SIA 9.3 11.02 Buy
05/21/19 UOB Kay Hian SIA 9.3 9.6 Hold Buy @ $8.80
05/21/19 DBS Vickers SIA 9.3 10.8 Buy PB0.95x FY20
06/19/19 UOB Kay Hian SIA 9.17 9.5 Hold Sum of parts, Buy @ $8.60
06/19/19 CIMB SIA 9.17 10.04 Hold
08/01/19 UOB Kay Hian SIA 9.67 9.5 Hold Sum of parts, Buy @ $9.10
08/01/19 DBS Vickers SIA 9.67 10.8 Buy PB0.95x FY20
08/01/19 Lim & Tan SIA 9.67 0 Hold
08/02/19 CIMB SIA 9.2 10.04 Hold PB0.9x CY19

Stock calls for 16 September 2019

Date Analyst Company Last Target Call Valuation
09/16/19 Kim Eng AEM 1.19 1.5 Buy Roe-g/Coe-g
09/16/19 UOB Kay Hian Fu Yu 0.23 0.285 Buy EV/Ebitda

Sunday, September 15, 2019

My observations of the HK protests. - Part 2


We had envisaged this to happen (anti-govt protestors VS pro-govt protestors) in our post yesterday.  This just happened today.

http://sg-stock.blogspot.com/2019/09/my-observations-of-hk-protests.html

The Hong Kong protestors know nothing about the property market.

The PPI shows that HK property market surged in the past 10 years and the HK protestors put the blame on the HK government.  Let's seek out the truth so that you will understand that this is a worldwide phenomenon trend.

What happened roughly 10 years ago?  Do you still remember the Lehman Brothers' (LB) collapse in September 2008?  The US government commenced QE1, QE2 and QE3 after LB's collapse to revive its own economy, and kept its interest rates artificially low for a long time with the ensuing outcome of churning massive money supplies in the world.  The consequences of the US monetary easing policies inflated the worldwide stock and property markets.  Therefore, the main culprit is the US government.

Where's the proof?  SG is also faced with the same property situation.

SG property market also surged after 2008 (from below 100 to above 150) but our government implemented property measures a few years later to rein in the property prices.

However, the HK CEs didn't dare to change the HK housing policy because of Tung Chee Hwa's downfall.

http://sg-stock.blogspot.com/2019/09/hk-carrie-lam-is-following-footstep-of.html

Saturday, September 14, 2019

My observations of the HK protests.


From this video, we can tell that the organizers are facing some cash flow problems as they're keeping a tight rein of their funds.

The pro-china protestors have started to come out this weekend because the ordinary residents are fed up with these black protestors who disrupt their daily lives.


These black protestors have incurred the wrath of the general public and are also not getting paid on time.

I think the black protestors will dwindle in size in the future because they're not getting paid and they will also face the pro-China protestors which will make their protests more difficult and dangerous.  The black protestors know that the police will be restraint in hitting them but the pro-china protestors won't.

We've stated that these black protestors would be at the receiving end in the end.

http://sg-stock.blogspot.com/2019/08/the-hong-kong-protestors-have-lost.html

Anyway, I wish HK the best and peace and order will return soon.

Hong Kong protests continue again.

https://sg.finance.yahoo.com/news/1-hong-kong-protesters-plan-025959474.html

The HK protests continue after the withdrawal of the extradition bill and revision in the housing policy.

We had stated before that the protests would continue even if the government relented.

http://sg-stock.blogspot.com/2019/09/the-hong-kong-protestors-are-daft.html

The HK protestors will continue to protest no matter what the outcome is.  Why? No protest, No money!

The HK protestors are being paid to protest and they have to protest to get the money.  However, some of them are whining about not getting paid. Just look at the leaked video (he forgot to turn it off) of a HK protestor ranting about not getting paid.

Indonesian haze is back in Singapore now!

https://sg.news.yahoo.com/region-chokes-haze-indonesian-media-002218914.html

I can smell it in my home now!

Damn, I cannot do my favourite outdoor activities now.

Stay healthy, guys!

Hahaha! LSE condemns HKEX takeover offer.

https://finance.yahoo.com/news/london-stock-exchange-strongly-rejects-093000403.html

LSE not only rejects HKEX's offer but also condemns the offer.

We've said before in our previous post that HK had everything to lose.

http://sg-stock.blogspot.com/2019/08/the-hongkongers-have-everything-to-lose.html

LSE has lost faith and confidence in HK's future which results in the rejection and condemnation.

Hong Kong protestors fabricated fake news to defame HK police. - Part 2


The truth is slowly unfolding about the woman who claimed that her eye was shot by HK police.

We posted a video previously showing no HK police were in the vicinity that could have shot her eye and the beanbag round had a short effective range.

http://sg-stock.blogspot.com/2019/08/hong-kong-protestors-fabricated-fake.html

She didn't lodge a police report and also didn't file a lawsuit against the police.  In the video, it was stated that she was offered HK$30m to pin the blame on the police but was later reduced to HK$5m to lie down as the police were getting closer to the truth with their investigations.  The police had applied to the court to retrieve her medical record from the hospital for further investigation because she rejected the police's request.

These were not innocent and ordinary protestors because they had a devious plan to smear the police and topple the government.  I've also seen online news about the protestors accusing the police of raping female protestors in the police stations and the police had killed a few protestors in the MRT stations.


Friday, September 13, 2019

TLTRO III will start on 19 September.

https://www.ecb.europa.eu/press/pr/date/2019/html/ecb.pr190912~19ac2682ff.en.html

TLTRO III will last 3 years and end in 2022.  The interest spread has been removed and this will lower the interest rate.

If you don't know anything about TLTRO, please read our previous post below.

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

SHS - Stock calls

Date Analyst Company Last Target Call Valuation
01/29/19 phillip SHS 0.197 0.24 Accumulate PER10x FY19
03/08/19 phillip SHS 0.191 0.194 Neutral PB0.7x
05/21/19 phillip SHS 0.174 0 Cease coverage

Sheng Siong - Stock calls

Date Analyst Company Last Target Call Valuation
01/02/19 DMG & Partners Sheng Siong 1.06 1.27 Buy
01/04/19 phillip Sheng Siong 1.07 1.13 Accumulate
02/20/19 UOB Kay Hian Sheng Siong 1.08 1.15 Hold
02/27/19 DMG & Partners Sheng Siong 1.09 1.25 Buy DCF
02/27/19 OCBC Sheng Siong 1.09 1.19 Buy
02/27/19 DBS Vickers Sheng Siong 1.09 1.25 Buy PER25x FY19
02/27/19 CIMB Sheng Siong 1.09 1.22 Add PER22.2x FY20
02/27/19 UOB Kay Hian Sheng Siong 1.09 1.11 Hold
03/04/19 phillip Sheng Siong 1.09 1.3 Accumulate PER25x
03/05/19 Amfrasers Sheng Siong 1.09 1.24 Buy
03/13/19 DMG & Partners Sheng Siong 1.08 1.25 Buy DCF
03/19/19 Kim Eng Sheng Siong 1.08 0.95 Sell DCF, PER19.5x FY19
04/05/19 DMG & Partners Sheng Siong 1.04 1.25 Buy
04/16/19 Kim Eng Sheng Siong 1.06 0.95 Sell DCF
04/29/19 UOB Kay Hian Sheng Siong 1.04 1.11 Hold Buy @ $1
04/29/19 DBS Vickers Sheng Siong 1.04 1.25 Buy PER5x FY19
04/30/19 DMG & Partners Sheng Siong 1.04 1.23 Buy DCF & PER21x
04/30/19 CIMB Sheng Siong 1.04 1.1 Hold PER20.5x CY20
04/30/19 Amfrasers Sheng Siong 1.04 1.24 Buy DCF
04/30/19 OCBC Sheng Siong 1.04 1.19 Buy
05/02/19 phillip Sheng Siong 1.03 1.3 Buy PER25x
06/06/19 DMG & Partners Sheng Siong 1.1 1.23 Buy
06/06/19 DBS Vickers Sheng Siong 1.1 1.25 Buy
06/14/19 Kim Eng Sheng Siong 1.09 0.95 Sell DCF
07/02/19 DMG & Partners Sheng Siong 1.1 1.23 Buy
07/15/19 phillip Sheng Siong 1.1 1.3 Buy PER25x
07/16/19 Kim Eng Sheng Siong 1.09 0.95 Sell DCF
07/30/19 DMG & Partners Sheng Siong 1.11 1.32 Buy DCF
07/30/19 DBS Vickers Sheng Siong 1.11 1.32 Buy PER25x FY20
07/31/19 Kim Eng Sheng Siong 1.15 0.96 Sell DCF
07/31/19 OCBC Sheng Siong 1.15 1.19 Buy
07/31/19 CIMB Sheng Siong 1.15 1.25 Add
08/01/19 phillip Sheng Siong 1.16 1.3 Accumulate PER25x FY19
08/06/19 Amfrasers Sheng Siong 1.16 1.27 Outperform
08/13/19 Kim Eng Sheng Siong 1.18 0.96 Sell DCF
08/23/19 DMG & Partners Sheng Siong 1.16 1.32 Buy
09/11/19 DMG & Partners Sheng Siong 1.2 1.32 Buy