Golden Energy - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/26/19	phillip	Golden Energy	0.215	0.3	Buy
05/24/19	phillip	Golden Energy	0.198	0.24	Accumulate	PER10x
06/03/19	phillip	Golden Energy	0.198	0.24	Accumulate
07/04/19	phillip	Golden Energy	0.225	0.24	Accumulate
08/23/19	phillip	Golden Energy	0.188	0.19	Neutral	PER10x

Stock calls for 4 May 2020

Date	Analyst	Company	Last	Target	Call	Valuation
05/04/20	Phillip	A-Reit	2.97	3.18	Accumulate	DDM
05/04/20	Lim & Tan	CapitaCommercial	1.61	0	Hold
05/04/20	Kim Eng	Capitamall Trust	1.89	2.4	Buy	DDM
05/04/20	DMG & Partners	Capitamall Trust	1.89	2.03	Neutral	DDM
05/04/20	phillip	DBS	19.96	20.59	Accumulate	GGM, PB1.09x
05/04/20	UOB Kay Hian	DBS	19.96	22.3	Buy
05/04/20	CIMB	Frasers Logistics	1.06	1.3	Add
05/04/20	DBS Vickers	Genting	0.785	0.75	Hold	Sum of parts
05/04/20	DMG & Partners	Keppel Reit	1.06	1.07	Neutral	DDM
05/04/20	CIMB	Mapletree North Asia	0.945	1.26	Add
05/04/20	DBS Vickers	Mapletree North Asia	0.945	1.05	Buy
05/04/20	UOB Kay Hian	SATS	3.28	3.3	Hold	Buy @ $2.80-2.90
05/04/20	Amfrasers	UMS	0.82	0.67	Underperform	PER11x FY20
05/04/20	UOB Kay Hian	Yangzijiang	0.985	1.22	Buy
05/04/20	DBS Vickers	Yangzijiang	0.985	1.4	Buy	Sum of parts

The US ISM PMI in April had worsened.

The prices dropped to 35.3 (-2.1) because of a significant decline in new orders including new export orders and local orders. The producers were unwilling to pay for the price increases as the outlook was gloomy due to the covid outbreak. The consumers also continued to pull back their spendings. The customers’ inventories increased because of a significant decline in new orders and not due to producers increasing their stocks. In fact, the producers cut their production and employees because of the gloomy outlook. The supplier’s deliveries increased to 76 because of a delay in deliveries (longer delivery period) due to the lockdown. The PMI is in the low 40s now which denotes that the US is already in a recession (-4.8 in Q1). The Q2 figure will definitely be worse than Q1 as the PMI has worsened.

http://sg-stock.blogspot.com/2020/04/the-us-ism-pmi-for-march-2020-is.html

Baltic dry index - 635

Today, Thursday, April 30 2020, the Baltic Dry Index decreased by 8 points, reaching 635 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 - 408

Related stock: Keppel Corp, Sembcorp Marine & Cosco.

Golden Agri - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/09/19	OCBC	Golden Agri	0.315	0.29	Hold	PB0.65x
04/09/19	CIMB	Golden Agri	0.315	0.23	Reduce
04/22/19	UOB Kay Hian	Golden Agri	0.295	0.21	Sell
05/14/19	OCBC	Golden Agri	0.275	0.29	Hold
05/15/19	DMG & Partners	Golden Agri	0.275	0.23	Sell	Sum of parts
05/27/19	OCBC	Golden Agri	0.265	0.27	Hold
05/28/19	CIMB	Golden Agri	0.26	0.23	Reduce	Sum of parts (10% discount)
05/28/19	UOB Kay Hian	Golden Agri	0.26	0.21	Sell
08/16/19	DMG & Partners	Golden Agri	0.295	0.22	Sell	Sum of parts
08/19/19	OCBC	Golden Agri	0.29	0.27	Sell
09/30/19	DMG & Partners	Golden Agri	0.23	0.25	Neutral	Sum of parts
10/15/19	UOB Kay Hian	Golden Agri	0.21	0.16	Sell	PER13x FY20
11/14/19	DMG & Partners	Golden Agri	0.265	0.25	Neutral	Sum of parts
11/15/19	OCBC	Golden Agri	0.245	0.26	Hold
11/22/19	UOB Kay Hian	Golden Agri	0.235	0.27	Hold
11/22/19	CIMB	Golden Agri	0.235	0.23	Reduce	Sum of parts (10% discount)
01/20/20	DMG & Partners	Golden Agri	0.235	0.27	Buy	Sum of parts
03/02/20	DMG & Partners	Golden Agri	0.2	0.25	Buy	Sum of parts
03/02/20	OCBC	Golden Agri	0.2	0.22	Hold
03/02/20	UOB Kay Hian	Golden Agri	0.2	0.22	Hold	Buy @ $0.20
03/02/20	CIMB	Golden Agri	0.2	0.21	Hold	Sum of parts (20% discount)
03/24/20	DMG & Partners	Golden Agri	0.129	0.125	Sell	Sum of parts, PER15x FY20

GL Ltd - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/19/20	Lim & Tan	GL Ltd	0.495	0	Hold

Geo Energy - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/26/19	phillip	Geo Energy	0.176	0.215	Accumulate
05/29/19	phillip	Geo Energy	0.148	0.15	Neutral	PER10x
06/03/19	phillip	Geo Energy	0.149	0.15	Neutral
07/04/19	phillip	Geo Energy	0.155	0.15	Neutral
08/29/19	Amfrasers	Geo Energy	0.15	0.14	Neutral	DCF
09/24/19	Amfrasers	Geo Energy	0.148	0.14	Neutral	DCF

Stock calls for 1 May 2020

Date	Analyst	Company	Last	Target	Call	Valuation
05/01/20	DMG & Partners	DBS	19.2	18.7	Neutral	GGM, PB0.96x FY20
05/01/20	Amfrasers	Sheng Siong	1.49	1.46	Neutral

SUTD made a bizarre epidemic prediction from its data analysis.

https://www.web24.news/u/2020/04/beware-of-this-study-which-states-that-the-epidemic-will-end-on-august-9-in-france.html

This kind of publication must be approved by its professor.  The SUTD will either prove that it is a 3rd-grade University or a 1st-grade University in July since it predicts that SG will end the outbreak in July 2020.

Many companies will either hire SUTD graduates or blacklist them after July 2020.

What's my take on this prediction?

My common sense is telling me that SUTD is most likely wrong in its data analysis and prediction.  Why make this data analysis public when the outcome is likely wrong? I really don't understand the professor's mentality.

http://sg-stock.blogspot.com/2020/04/the-southern-hemisphere-must-brace-for_24.html

I hope someone can shed some light on this.  Please enlighten me!

Genting - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/04/19	UOB Kay Hian	Genting	1.07	1.26	Buy	EV/Ebitda 9x
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	EV/Ebitda 8x FY19
04/04/19	Citibank	Genting	1.07	1.28	Buy
05/10/19	Kim Eng	Genting	0.95	1.04	Hold
05/10/19	OCBC	Genting	0.95	1.23	Buy
05/10/19	DMG & Partners	Genting	0.95	1.02	Neutral	DCF
05/10/19	CIMB	Genting	0.95	1.06	Add	EV/Ebitda8x CY20
05/10/19	UOB Kay Hian	Genting	0.95	1.26	Buy
05/10/19	DBS Vickers	Genting	0.95	1.2	Buy	DCF
05/10/19	Citibank	Genting	0.95	1.16	Buy
06/06/19	DMG & Partners	Genting	0.86	1.02	Neutral
06/24/19	CIMB	Genting	0.93	1.06	Add
08/05/19	DMG & Partners	Genting	0.9	0.97	Neutral	EV/Ebitda7x FY19
08/05/19	UOB Kay Hian	Genting	0.9	1.11	Buy
08/06/19	Kim Eng	Genting	0.885	0.99	Hold
08/06/19	Citibank	Genting	0.885	1.07	Buy
08/06/19	CIMB	Genting	0.885	1	Add	EV/Ebitda8x CY20
08/06/19	DBS Vickers	Genting	0.885	1.2	Buy
08/06/19	Lim & Tan	Genting	0.885	0	Hold
10/01/19	DBS Vickers	Genting	0.88	1.2	Buy
10/11/19	DMG & Partners	Genting	0.9	0.97	Neutral
10/25/19	UOB Kay Hian	Genting	0.925	1.11	Buy
11/08/19	Kim Eng	Genting	0.96	0.99	Hold	EV/Ebitda7x FY20
11/08/19	DMG & Partners	Genting	0.96	0.97	Neutral	EV/Ebitda7x FY20
11/08/19	UOB Kay Hian	Genting	0.96	1.11	Buy
12/11/19	DMG & Partners	Genting	0.915	0.97	Neutral
01/14/20	DBS Vickers	Genting	0.92	1.2	Buy
02/10/20	DBS Vickers	Genting	0.86	1.2	Buy
02/11/20	UOB Kay Hian	Genting	0.85	0.95	Buy
02/13/20	Kim Eng	Genting	0.875	0.99	Buy	EV/Ebitda7x FY20
02/13/20	DMG & Partners	Genting	0.875	0.85	Neutral	EV/Ebitda7x FY20
02/13/20	CIMB	Genting	0.875	1	Add	EV/Ebitda8x CY21
02/13/20	DBS Vickers	Genting	0.875	1.1	Buy	DCF
03/18/20	CIMB	Genting	0.62	0.76	Add	EV/Ebitda7x FY21
03/18/20	Kim Eng	Genting	0.62	0.84	Buy
03/20/20	DMG & Partners	Genting	0.51	0.64	Buy	EV/Ebitda6x FY20/21
03/20/20	DBS Vickers	Genting	0.51	0.8	Buy	DCF & EV/Ebita6x FY20
04/06/20	DBS Vickers	Genting	0.65	0.81	Buy
04/06/20	UOB Kay Hian	Genting	0.65	0.8	Buy	EV/Ebitda8.9x FY20

Fu Yu - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/15/19	UOB Kay Hian	Fu Yu	0.205	0.285	Buy	EV/Ebitda5.5x
05/07/19	DMG & Partners	Fu Yu	0.21	0.24	Buy	DCF
05/10/19	UOB Kay Hian	Fu Yu	0.205	0.285	Buy
05/10/19	Lim & Tan	Fu Yu	0.205	0	Buy
06/06/19	DMG & Partners	Fu Yu	0.19	0.24	Buy
06/13/19	UOB Kay Hian	Fu Yu	0.2	0.29	Buy
07/09/19	DMG & Partners	Fu Yu	0.215	0.24	Buy	DCF
07/15/19	UOB Kay Hian	Fu Yu	0.215	0.29	Buy
08/14/19	Lim & Tan	Fu Yu	0.215	0	Buy
08/14/19	DMG & Partners	Fu Yu	0.215	0.24	Buy	DCF
08/14/19	UOB Kay Hian	Fu Yu	0.215	0.285	Buy
09/11/19	DMG & Partners	Fu Yu	0.215	0.24	Buy
09/16/19	UOB Kay Hian	Fu Yu	0.23	0.285	Buy	EV/Ebitda5.7x FY19
10/02/19	DMG & Partners	Fu Yu	0.22	0.24	Buy	DCF
10/09/19	UOB Kay Hian	Fu Yu	0.225	0.285	Buy
11/12/19	UOB Kay Hian	Fu Yu	0.225	0.285	Buy
11/14/19	DMG & Partners	Fu Yu	0.225	0.24	Buy	DCF
11/14/19	Lim & Tan	Fu Yu	0.225	0	Buy
11/29/19	UOB Kay Hian	Fu Yu	0.235	0.295	Buy
12/10/19	DMG & Partners	Fu Yu	0.25	0.27	Buy	DCF
12/13/19	Lim & Tan	Fu Yu	0.25	0	Buy
01/08/20	DMG & Partners	Fu Yu	0.255	0.27	Buy
01/15/20	DBS Vickers	Fu Yu	0.25	0.35	Buy	PER16x FY20
01/15/20	DMG & Partners	Fu Yu	0.25	0.29	Buy	DCF
02/26/20	UOB Kay Hian	Fu Yu	0.26	0.3	Buy
02/26/20	DBS Vickers	Fu Yu	0.26	0.35	Buy	PER11.8x FY20
02/27/20	Lim & Tan	Fu Yu	0.25	0	Hold
02/28/20	DMG & Partners	Fu Yu	0.25	0.32	Buy	DCF
03/16/20	DMG & Partners	Fu Yu	0.2	0.32	Buy	DCF
04/01/20	DBS Vickers	Fu Yu	0.198	0.21	Hold
04/06/20	CIMB	Fu Yu	0.196	0.21	Add
04/07/20	DMG & Partners	Fu Yu	0.199	0.32	Buy
04/13/20	DMG & Partners	Fu Yu	0.215	0.28	Buy	DCF

Frencken - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/15/19	DBS Vickers	Frencken	0.6	0.75	Buy	PER8.5x FY19/20
04/17/19	CIMB	Frencken	0.635	0.9	Add	PER10x FY20
05/09/19	DMG & Partners	Frencken	0.615	0.82	Buy	DCF
05/10/19	DBS Vickers	Frencken	0.615	0.75	Buy	PER8.5x FY19/20
05/10/19	Lim & Tan	Frencken	0.615	0	Buy
05/10/19	CIMB	Frencken	0.615	0.9	Add
05/14/19	Amfrasers	Frencken	0.595	0.67	Buy	PER10x FY19
06/12/19	DMG & Partners	Frencken	0.625	0.82	Buy	DCF
08/13/19	DBS Vickers	Frencken	0.66	0.8	Buy
08/13/19	CIMB	Frencken	0.66	0.9	Add
08/13/19	DMG & Partners	Frencken	0.66	0.82	Buy	DCF
08/13/19	DBS Vickers	Frencken	0.66	0.8	Buy	PER8.5x
08/22/19	CIMB	Frencken	0.73	0.95	Add
08/22/19	Amfrasers	Frencken	0.73	0.81	Neutral	PER10x FY20
09/11/19	Amfrasers	Frencken	0.675	0.81	outperform	PER10x FY20
10/08/19	DMG & Partners	Frencken	0.675	0.82	Buy
11/07/19	CIMB	Frencken	0.72	0.94	Add	PER10x FY20
11/07/19	Amfrasers	Frencken	0.72	0.93	outperform	PER10x FY20
11/07/19	DBS Vickers	Frencken	0.72	0.95	Buy	PER9x FY20
11/11/19	DMG & Partners	Frencken	0.76	0.82	Buy	DCF
11/18/19	Amfrasers	Frencken	0.92	0.93	Neutral	PER10x FY20
11/29/19	DBS Vickers	Frencken	0.905	1.06	Buy	PER10x FY20
12/02/19	Amfrasers	Frencken	0.89	0.93	outperform	PER10x FY20
12/10/19	DMG & Partners	Frencken	0.94	0.92	Neutral	DCF
01/24/20	DBS Vickers	Frencken	0.91	1.06	Buy	PER10x FY20
02/28/20	DBS Vickers	Frencken	0.865	1.06	Buy	PER10x FY20
02/28/20	Amfrasers	Frencken	0.865	1.01	outperform
03/02/20	CIMB	Frencken	0.83	1.06	Add
03/09/20	DMG & Partners	Frencken	0.83	1.05	Buy	DCF
03/10/20	Amfrasers	Frencken	0.75	1.01	outperform	PER10x FY20
04/02/20	DBS Vickers	Frencken	0.565	0.74	Buy
04/15/20	DMG & Partners	Frencken	0.71	0.9	Buy	DCF

Stock calls for 30 April 2020

Date	Analyst	Company	Last	Target	Call	Valuation
04/30/20	DBS Vickers	AEM	2.37	2.47	Hold	PER10x FY20/21
04/30/20	CIMB	AEM	2.37	3.1	Add
04/30/20	Kim Eng	AEM	2.37	3.18	Buy
04/30/20	CIMB	ARA Logistics	0.53	0.71	Hold
04/30/20	UOB Kay Hian	CapitaCommercial	1.57	1.68	Buy	DDM
04/30/20	DBS Vickers	CapitaCommercial	1.57	1.55	Hold
04/30/20	Lim & Tan	DBS	19.2	0	Buy
04/30/20	DMG & Partners	Keppel Corp	5.97	7.4	Buy	Sum of parts
04/30/20	UOB Kay Hian	Keppel Corp	5.97	7.15	Buy
04/30/20	Lim & Tan	Keppel Corp	5.97	0	Hold
04/30/20	DBS Vickers	Keppel Corp	5.97	6.8	Buy
04/30/20	phillip	Sheng Siong	1.49	1.58	Accumlate	PER25x
04/30/20	UOB Kay Hian	Sheng Siong	1.49	1.5	Hold	Buy @ $1.35
04/30/20	OCBC	Sheng Siong	1.49	1.64	Buy
04/30/20	DBS Vickers	Starhub	1.45	1.75	Buy	DCF
04/30/20	DMG & Partners	Starhub	1.45	1.63	Neutral
04/30/20	UOB Kay Hian	Wilmar	3.46	4	Buy
04/30/20	CIMB	Yangzijiang	0.975	1.37	Add	Sum of parts

What will the US FED do for its April 2020 meeting? - Part 2

https://sg.finance.yahoo.com/news/fed-fomc-decision-april-2020-141824183.html

Yeah! The US FED had acted rationally in the way we had envisioned in our previous post below.

http://sg-stock.blogspot.com/2020/04/what-will-us-fed-do-for-its-april-2020.html

The US FED had kept its rates on hold and used other stimulative funding programmes instead of cutting its rates.

We've nailed this right again!

Frasers Property - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/08/19	DBS Vickers	Frasers Property	1.81	1.98	Buy
04/10/19	DBS Vickers	Frasers Property	1.84	2.3	Buy	RNAV (35% discount)
05/06/19	DBS Vickers	Frasers Property	1.89	2.3	Buy	RNAV (35% discount)
05/07/19	CIMB	Frasers Property	1.85	2.08	Add
11/18/19	DBS Vickers	Frasers Property	1.82	2.05	Buy	RNAV (40% discount)