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Tuesday, March 27, 2018

Hot news! UFO in Turkey sky!

Do you believe in UFO now?

United Engineers - Stock calls


Date Analyst Company Last Target Call Valuation
02/10/16 Lim & Tan United Engineers 1.97 0 Buy
05/12/16 Lim & Tan United Engineers 2.15 0 Buy
08/15/16 Lim & Tan United Engineers 2.33 0 Buy
09/27/16 Lim & Tan United Engineers 2.41 0 Buy
10/12/16 DBS Vickers United Engineers 2.54 2.75 Not Rated PB1x
10/27/16 UOB Kay Hian United Engineers 2.57 2.96 Buy PB1.04x
11/14/16 Lim & Tan United Engineers 2.64 0 Buy
11/14/16 UOB Kay Hian United Engineers 2.64 3.06 Buy NAV1x
11/29/16 UOB Kay Hian United Engineers 2.75 2.75 Hold PB0.9x FY17, Buy @ $2.50
01/06/17 Lim & Tan United Engineers 2.66 0 Buy
02/13/17 Lim & Tan United Engineers 2.91 0 Buy
03/02/17 Lim & Tan United Engineers 2.94 0 Hold
03/08/17 UOB Kay Hian United Engineers 2.93 2.75 Hold
03/13/17 DBS Vickers United Engineers 2.9 2.89 Not Rated
06/01/17 Lim & Tan United Engineers 2.63 0 Buy
07/14/17 Lim & Tan United Engineers 2.71 0 Hold Offer price of $2.60 is too low.
08/16/17 Lim & Tan United Engineers 2.69 0 Hold
09/21/17 Lim & Tan United Engineers 2.68 0 Hold

Uni-Asia - Stock calls


Date Analyst Company Last Target Call Valuation
01/12/16 NRA Uni-Asia 1.12 1.495 Overweight PB0.353x FY15
03/08/16 NRA Uni-Asia 1.165 1.495 Overweight PB0.36x FY16
07/01/16 NRA Uni-Asia 1.16 1.615 Overweight PB0.4x
06/19/17 Amfrasers Uni-Asia 1.165 1.92 Buy Sum of parts, PB0.5x FY17, PER8.2x FY17
06/21/17 NRA Uni-Asia 1.35 1.85 Overweight PB0.5x
08/15/17 NRA Uni-Asia 1355 1.86 Overweight PB0.5x
08/22/17 Amfrasers Uni-Asia 1.37 1.92 Buy Sum of parts, PB0.5x FY17, PER8.2x FY17
12/18/17 Amfrasers Uni-Asia 1.23 1.85 Buy Sum of parts, PB0.5x FY17, PER8.2x FY17
03/16/18 Amfrasers Uni-Asia 1.45 1.81 Buy Sum of parts, PB0.5x FY18, PER10x FY18

Stock calls for 27 March 2018


Date Analyst Company Last Target Call Valuation
03/27/18 Phillip A-Reit 2.6 2.89 Accumulate
03/27/18 phillip Cache Logistics 0.825 0.93 Accumulate
03/27/18 CIMB Comfortdelgro 2.04 2.16 Hold DCF
03/27/18 DMG & Partners Dairy Farm 9.1 9.16 Buy DCF
03/27/18 Deutsche M1 1.77 2.3 Buy

Why do crypto ads bans cause crypto to fall heavily?

https://sg.news.yahoo.com/twitter-bans-crytocurrency-ads-fraud-fears-015139918.html

If the ads bans can cause crypto to fall heavily, there can only be 1 reason behind the fall.  The crypto is a highly speculative commodity and it needs advertisements to hype up its price ascents.  Without advertisements to hype up its price ascents, the crypto will fall because it is a useless and worthless commodity.

Twitter is the latest to add to the salvo after FB and Google.

The USA will issue close to $300b bonds this week.

https://www.bloombergquint.com/onweb/2018/03/26/vulnerable-stocks-and-record-u-s-debt-sales-dominate-the-week

This upcoming bond sale is worth watching because it will reveal foreign investors' confidence in the USA treasury market.  If the sale is underwhelming, the USA will have a big problem financing its economic growth, especially for Trump's fiscal policies.

The Libor-OIS spread is also worth monitoring as stated in our previous posting.

http://sg-stock.blogspot.sg/2018/03/libor-ois-spread-is-at-6-year-high-is.html

The USA only wants to pollute other countries but not itself.

https://www.reuters.com/article/us-china-environment-usa/u-s-asks-china-not-to-implement-ban-on-foreign-garbage-idUSKBN1GZ2WI

The USA has requested China to halt its foreign trash ban.  This is ridiculously and it shows how selfish the USA is.

There is nothing wrong for China to protect its own environment and China is not a trash land for other countries to dump theirs.


Monday, March 26, 2018

UMS - Stock calls


Date Analyst Company Last Target Call Valuation
03/01/16 CIMB UMS 0.53 0.63 Add PB1.38x FY16
04/11/16 DBS Vickers UMS 0.595 0.7 Not Rated DCF
04/15/16 DBS Vickers UMS 0.615 0.73 Buy DCF
05/11/16 CIMB UMS 0.63 0.63 Hold PB1.38x FY16
05/12/16 DBS Vickers UMS 0.595 0.61 Hold
08/15/16 CIMB UMS 0.585 0.63 Add PB1.38x FY16
08/16/16 DBS Vickers UMS 0.595 0.61 Hold DCF
11/11/16 Lim & Tan UMS 0.61 0 Buy
11/14/16 CIMB UMS 0.62 0.64 Add PB1.38x CY17
11/14/16 DBS Vickers UMS 0.62 0.61 Hold DCF
03/01/17 CIMB UMS 0.675 0.82 Add GGM, PB1.85x FY17
03/02/17 DBS Vickers UMS 0.68 0.73 Buy DCF
05/15/17 CIMB UMS 0.87 1.15 Add GGM, PB2.41x
05/16/17 DBS Vickers UMS 0.98 1.07 Buy DCF, PER7.4x FY18 ex-cash
05/23/17 DBS Vickers UMS 1.07 1.33 Buy PER11x FY18 ex-cash
06/16/17 DBS Vickers UMS 1.08 1.33 Buy
07/05/17 CIMB UMS 0.995 1.15 Add GGM, PB2.41x
08/14/17 CIMB UMS 1.08 1.12 Hold GGM, PB2.41x
08/14/17 DBS Vickers UMS 1.08 1.13 Hold PER11x FY18 ex-cash
10/25/17 CIMB UMS 0.925 1.13 Add GGM, PB2,8x FY18, PER13.3x FY19, Ex-rights 1 for 4
11/13/17 DBS Vickers UMS 1.02 1.21 Buy PER12x FY18
11/13/17 CIMB UMS 1.02 1.21 Add GGM, PB2.88x
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

UG Healthcare - Stock calls


Date Analyst Company Last Target Call Valuation
01/27/16 Kim Eng UG Healthcare 0.28 0.41 Buy PER14x FY16
02/05/16 Kim Eng UG Healthcare 0.33 0.52 Buy PER14x FY17
03/23/16 Kim Eng UG Healthcare 0.345 0.52 Buy PER14x
06/15/16 DBS Vickers UG Healthcare 0.305 0.33 Not Rated PER16x FY17
07/05/16 DBS Vickers UG Healthcare 0.29 0.33 Not Rated PER16x FY17
08/25/16 Lim & Tan UG Healthcare 0.305 0 Buy
08/26/16 Kim Eng UG Healthcare 0.335 0.37 Hold PER12x FY17
02/09/17 Lim & Tan UG Healthcare 0.295 0 Hold
02/09/17 Kim Eng UG Healthcare 0.295 0.25 Sell
08/31/17 Kim Eng UG Healthcare 0.24 0.21 Sell PER12x FY18

Stock calls for 26 March 2018


Date Analyst Company Last Target Call Valuation
03/26/18 DBS Vickers Comfortdelgro 1.99 2.12 Hold
03/26/18 Morgan Stanley Keppel Corp 7.72 9.45 Overweight Sum of parts, Up from $9.01
03/26/18 Morgan Stanley Sembcorp Industries 3.04 2.77 Underweight Sum of parts, Up from $2.39
03/26/18 Morgan Stanley Sembcorp Marine 2.09 2.45 Overweight PB2.2x FY18, Up from $1.48 ({PB1.2x)
03/26/18 DBS Vickers Thai Beverage 0.805 1.02 Buy

Noble Group is playing punk now!

https://sg.finance.yahoo.com/news/noble-group-says-board-seek-insolvency-protection-restructuring-031804752--finance.html

We did warn about Noble's bankruptcy previously.  Noble is forcing shareholders to accept the restructuring which will benefit the management the most or else it will declare bankruptcy.

http://sg-stock.blogspot.sg/2018/03/noble-groups-bankruptcy-is-real-and.html

Saturday, March 24, 2018

Baltic dry index - 1122

Today, Friday, March 23 2018, the Baltic Dry Index climbed by 5 points, reaching 1122 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.
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Related stocks: Sembcorp Marine, Cosco & Pan Ocean.

US rig count - 995

HOUSTON — The number of rigs exploring for oil and natural gas in the U.S. increased by five this week to 995.
That exceeds the 809 rigs that were active this time a year ago.
Houston oilfield services company Baker Hughes reported Friday that 804 rigs drilled for oil this week and 190 for gas. One was listed as miscellaneous.
Among major oil- and gas-producing states, Texas increased by seven rigs and Alaska and Colorado each gained two.
Oklahoma lost four rigs, Utah decreased by two and Ohio lost one.
Arkansas, California, Louisiana, New Mexico, North Dakota, Pennsylvania, West Virginia and Wyoming were unchanged.
The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May of 2016 at 404.
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Related stocks: Keppel Corp, Sembcorp Marine & Cosco

Friday, March 23, 2018

Tuan Sing - Stock calls


Date Analyst Company Last Target Call Valuation
11/29/17 UOB Kay Hian Tuan Sing 0.415 0.71 Buy Sum of parts
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

Triyards - Stock calls


Date Analyst Company Last Target Call Valuation
01/04/16 DMG & Partners Triyards 0.445 0.94 Buy PB1.05x
01/04/16 OCBC Triyards 0.445 0.61 Buy PER5x FY16
01/04/16 UOB Kay Hian Triyards 0.445 0.88 Buy PB0.75x
01/11/16 Amfrasers Triyards 0.49 0.55 Buy PER6x FY16
01/15/16 UOB Kay Hian Triyards 0.435 0.69 Buy
03/03/16 Amfrasers Triyards 0.405 0.55 Buy PER6x FY16
03/07/16 UOB Kay Hian Triyards 0.425 0.69 Buy
03/09/16 OCBC Triyards 0.42 0.61 Buy PER5x FY16
04/01/16 UOB Kay Hian Triyards 0.4 0.47 Hold PB0.4x FY17, Buy @ $0.38 or lower
04/08/16 Amfrasers Triyards 0.395 0.55 Buy PER6x FY16
04/08/16 OCBC Triyards 0.395 0.61 Buy PER5x FY16/17
05/17/16 Amfrasers Triyards 0.385 0.55 Buy
05/20/16 UOB Kay Hian Triyards 0.39 0.47 Hold
07/11/16 OCBC Triyards 0.38 0.51 Buy PER5x
07/11/16 UOB Kay Hian Triyards 0.38 0.44 Hold PB0.4x FY17, Buy @ $0.35
07/12/16 Amfrasers Triyards 0.39 0.52 Buy PER6x, PB0.6x
09/13/16 UOB Kay Hian Triyards 0.29 0.44 Buy PB0.4x FY17
10/24/16 UOB Kay Hian Triyards 0.28 0.41 Buy PB0.4x FY17
11/30/16 OCBC Triyards 0.275 0.35 Hold
12/02/16 UOB Kay Hian Triyards 0.285 0.5 Buy
01/09/17 Amfrasers Triyards 0.315 0.43 Buy PB0.5x FY17
01/09/17 OCBC Triyards 0.315 0.47 Buy PB0.55x FY17
01/09/17 UOB Kay Hian Triyards 0.315 0.46 Buy PB0.46x FY17
03/10/17 UOB Kay Hian Triyards 0.395 0.27 Hold
03/15/17 OCBC Triyards 0.295 0.345 Hold PB
04/10/17 OCBC Triyards 0.25 0.33 Hold PB0.35x FY17/18
07/24/17 OCBC Triyards 0.149 0.19 Hold PB0.3x FY18

Stock calls for 23 March 2018


Date Analyst Company Last Target Call Valuation
03/23/18 MIDF IHH Healthcare 2.01 2.32 Buy Ringgit $6.91 target price
03/23/18 CIMB OUE Commercial 0.72 0.75 Hold DDM
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
03/23/18 Kim Eng Valuetronics 0.955 1.25 Buy ROE-g/COE-g, PB2.8x FY19
03/23/18 OCBC Viva Industrial 0.75 0.93 Buy

Another lawsuit for Noble Group.

https://www.bloombergquint.com/markets/2018/03/22/noble-group-s-week-from-hell-gets-worse-as-another-lawsuit-hits

More and more bad news!

Another company is suing Noble Group for $260m.

US has imposed tariffs on $60b China imports.

https://www.cnbc.com/2018/03/22/trump-moves-to-slap-china-with-50-billion-in-tariffs-over-intellectual-property-theft.html

https://finance.yahoo.com/news/china-hits-back-trump-planned-232227157.html

The USA has imposed tariffs on $60b China goods but China has retaliated with very restrained effort targeting at Trump's supporters' businesses.

This trade war is real because the USA wants to cripple China's economy now.  Trump has replaced all his key personnel with anti-China characteristics.  They are advising Trump to wage an economic war against China because China will become the world leader in the future.  If the USA doesn't attack China economically now, the USA won't stand a chance in the future.

The USA has just passed a US$1.3T spending bill.

https://finance.yahoo.com/news/u-house-passes-1-3-170134662.html

Here we go again!  The USA will issue more government bonds to fund this newly passed $1.3T spending bill but it won't be easy to attract foreign central banks and investors to buy US treasuries this time.  Why?

This is because the USA has rankled many countries with its upcoming global trade war.  This global trade war will affect many economies and induce slower economic growth.  When other government coffers and investors are badly affected, they won't purchase more US treasuries.

The USA really has a warped logic!

Thursday, March 22, 2018

Trendlines - Stock calls

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Date Analyst Company Last Target Call Valuation
02/12/16 DBS Vickers Trendlines 0.161 0.28 Buy PB1.1x FY16
03/17/16 DBS Vickers Trendlines 0.192 0.28 Buy PB1.1x FY16
04/25/16 DBS Vickers Trendlines 0.225 0.24 Hold
11/27/17 NRA Trendlines 0.143 0.225 Overweight RNAV (20% discount)