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Friday, May 11, 2018

Duty Free - Stock calls


Date Analyst Company Last Target Call Valuation
01/03/17 UOB Kay Hian Duty Free 0.37 0.57 Buy
01/13/17 UOB Kay Hian Duty Free 0.39 0.55 Buy DCF
01/16/17 CIMB Duty Free 0.39 0.55 Add DCF
04/28/17 CIMB Duty Free 0.415 0.57 Add DCF
04/28/17 UOB Kay Hian Duty Free 0.415 0.49 Buy DCF
07/14/17 UOB Kay Hian Duty Free 0.315 0.37 Hold DCF, Buy @ $0.3
07/14/17 CIMB Duty Free 0.315 0.33 Hold DCF, PER18x CY18
10/13/17 UOB Kay Hian Duty Free 0.28 0.33 Hold DCF, Buy @ $0.26

Dutech - Stock calls


Date Analyst Company Last Target Call Valuation
03/03/17 CIMB Dutech 0.475 0.55 Hold DCF
05/12/17 CIMB Dutech 0.495 0.53 Hold DCF CY17

Delfi - Stock calls


Date Analyst Code Company Last Target Call Percent Valuation
01/03/17 DMG & Partners P34 Delfi 2.22 2.55 Buy 14.86
01/16/17 OCBC P34 Delfi 2.25 2.39 Hold 6.22
02/23/17 CIMB P34 Delfi 2.32 2.3 Hold -0.86 PER25x CY18
02/23/17 OCBC P34 Delfi 2.32 2.39 Hold 3.02 PER30x FY17
02/24/17 DMG & Partners P34 Delfi 2.35 2.55 Neutral 8.51 DCF
02/24/17 OCBC P34 Delfi 2.35 2.37 Hold 0.85 PER30x FY17
02/27/17 DBS Vickers P34 Delfi 2.33 2.26 Hold -3.00 PER26x FY17/18
03/17/17 OCBC P34 Delfi 2.24 2.37 Hold 5.80
05/09/17 OCBC P34 Delfi 2.2 2.37 Hold 7.73
05/11/17 CIMB P34 Delfi 2.2 2.3 Hold 4.55 PER25x CY18
05/11/17 OCBC P34 Delfi 2.2 2.21 Hold 0.45 PER30x FY17/18
06/16/17 OCBC P34 Delfi 2.05 2.21 Hold 7.80
08/10/17 OCBC P34 Delfi 2.12 2.08 Hold -1.89 PER30x FY18
08/10/17 DMG & Partners P34 Delfi 2.12 2 Neutral -5.66 DCF
10/02/17 DMG & Partners P34 Delfi 1.515 1.86 Buy 22.77 DCF
11/15/17 DMG & Partners P34 Delfi 1.45 1.65 Buy 13.79 DCF
12/19/17 DBS Vickers P34 Delfi 1.43 1.8 Buy 25.87 PER26x FY18/19
02/28/18 DMG & Partners P34 Delfi 1.52 1.54 Neutral 1.32 DCF
05/09/18 DBS Vickers P34 Delfi 1.48 1.8 Buy 21.62 PER26x FY18/19
05/09/18 DMG & Partners P34 Delfi 1.48 1.54 Neutral 4.05

Stock calls for 11 May 2018


Date Analyst Company Last Target Call Valuation
05/11/18 phillip China Aviation Oil 1.58 2 Buy PER13.3x FY18
05/11/18 DMG & Partners China Aviation Oil 1.58 1.8 Buy DCF & PER12.2x FY18 & PEG1x FY18
05/11/18 Lim & Tan Creative Tech 5.85 0 Sell
05/11/18 DBS Vickers Cromwell Reit (EUR) 0.61 0.66 Buy DCF
05/11/18 CIMB Frasers Property 1.95 2.4 Add
05/11/18 UOB Kay Hian Frencken 0.54 0.79 Buy
05/11/18 CIMB Genting 1.16 1.4 Add EV/Ebitda11.5x FY19
05/11/18 UOB Kay Hian Genting 1.16 1.38 Buy Sum of parts, EV/Ebitda10.3x FY18
05/11/18 DBS Vickers Genting 1.16 1.49 Buy DCF
05/11/18 OCBC Genting 1.16 1.45 Buy FCFE
05/11/18 Nomura Genting 1.16 1.52 Buy
05/11/18 phillip HMI 0.645 0.83 Buy DCF
05/11/18 UOB Kay Hian HMI 0.645 0.83 Buy DCF
05/11/18 DBS Vickers Hongkong Land 7.26 8.53 Buy
05/11/18 DBS Vickers HRnetGroup 0.83 0.98 Buy DCF & PER15x (ex-cash)
05/11/18 DMG & Partners HRnetGroup 0.83 1.14 Buy DCF
05/11/18 OCBC OUE Commercial 0.72 0.68 Hold
05/11/18 UOB Kay Hian SIA Engineering 3.31 4 Buy DCF, PER20.8x FY18
05/11/18 Lim & Tan ST Engineering 3.46 0 Buy
05/11/18 CIMB Wilmar 3.21 4.1 Add Sum of parts
05/11/18 UOB Kay Hian Wilmar 3.21 4.1 Buy Sum of parts, PER14x FY18
05/11/18 DMG & Partners Wilmar 3.21 3.45 Buy

Why did Kim visit China again in May 2018?

http://www.scmp.com/news/china/diplomacy-defence/article/2145185/chinese-president-xi-jinping-surprise-trip-northern

There are many speculations about his intention of visiting China again so soon.

The speculations are:
Kim wants to garner support from Xi for his June meeting with Trump in Singapore.
Kim is offering concessions to China to invest in NK.
Kim is borrowing a plane from China to fly to Singapore as his own plane is too old for long distance flight.

No matter what the reason is, the significant importance is that the Korean Peninsula crisis can only be resolved through China.  The SK President understands this now and is working closely with China to mend its relationship with NK.  Upon seeing this development, Japan PM, being an opportunist, also rides on this new wave by organizing a 3-way summit (China, SK & Japan) to resolve the NK crisis.

This unfolding new situation will definitely put pressure on Trump in June in Singapore because many countries are very supportive of the latest development.

Thursday, May 10, 2018

Hot news! Trump and Kim will meet in Singapore on 12 June.

Singapore will be busy preparing for this important meeting.  Security will be super tight in June.

Del Monte - Stock calls


Date Analyst Company Last Target Call Valuation
03/13/17 DBS Vickers Del Monte 0.345 0.36 Hold PER12x FY18
03/14/17 Lim & Tan Del Monte 0.345 0 Neutral
03/15/17 CIMB Del Monte 0.345 0.35 Hold PER11.3x FY17
06/29/17 DBS Vickers Del Monte 0.34 0.36 Hold PER12x
07/04/17 DBS Vickers Del Monte 0.325 0.32 Hold PER15x FY18/19
09/08/17 Lim & Tan Del Monte 0.31 0 Hold

DBS Bank - Stock calls


Date Analyst Company Last Target Call Valuation
01/03/17 DMG & Partners DBS 17.34 18.38 Buy
01/04/17 Kim Eng DBS 17.32 15.68 Hold
01/05/17 Credit Suisse DBS 17.52 18.93 Outperform
01/06/17 UOB Kay Hian DBS 17.8 21.2 Buy GGM, PB1.17x FY17
01/10/17 OCBC DBS 17.85 17.83 Hold PB1x
01/11/17 DIR DBS 17.99 22.4 Buy
01/16/17 Jefferies DBS 18.31 14 Underperform
01/16/17 phillip DBS 18.31 16.85 Neutral PB0.95x FY17
01/16/17 UBS DBS 18.31 17.9 Neutral
02/02/17 Lim & Tan DBS 18.88 0 Hold
02/02/17 UOB Kay Hian DBS 18.88 21.2 Buy GGM, PB1.17x FY17
02/03/17 CIMB DBS 18.78 15.4 Hold
02/06/17 Macquarie DBS 18.66 21.5 Outperform
02/16/17 Lim & Tan DBS 18.23 0 Take profit/Sell Buy @ $16.87
02/17/17 CIMB DBS 18.54 17.66 Hold GGM, PB0.99x CY17
02/17/17 Credit Suisse DBS 18.54 19.8 Neutral
02/17/17 DIR DBS 18.54 22.5 Buy Warranted Equity Method, PB1.24x
02/17/17 DMG & Partners DBS 18.54 19.8 Neutral GGM, PB1.1x FY17
02/17/17 Kim Eng DBS 18.54 18.13 Hold PB1x FY17
02/17/17 phillip DBS 18.54 16.73 Reduce PB0.95x FY17
02/17/17 UOB Kay Hian DBS 18.54 21.5 Buy GGM, PB1.19x FY17
03/03/17 CIMB DBS 19.03 17.66 Hold
03/03/17 Jefferies DBS 19.03 16.2 Underperform
03/06/17 Macquarie DBS 18.97 21 Outperform
03/14/17 UOB Kay Hian DBS 19.11 21.5 Buy GGM, PB1.19x FY17
03/21/17 Kim Eng DBS 19.01 18.13 Hold PB1x
04/03/17 Kim Eng DBS 19.4 18.13 Hold
04/18/17 DIR DBS 18.9 22.5 Buy
04/20/17 UOB Kay Hian DBS 18.79 21.5 Buy GGM, PB1.19x FY17
04/25/17 CIMB DBS 19 17.66 Hold
05/02/17 Bernstein DBS 19.35 22 Outperform
05/02/17 UBS DBS 19.35 19.2 Neutral
05/03/17 CIMB DBS 19.86 18.75 Hold GGM, PB1.04x CY17
05/03/17 Credit Suisse DBS 19.86 22.6 Outperform
05/03/17 DMG & Partners DBS 19.86 20.5 Neutral
05/03/17 Kim Eng DBS 19.86 19.18 Hold PB1.1x FY18
05/03/17 Lim & Tan DBS 19.86 0 Hold
05/03/17 phillip DBS 19.86 17.24 Reduce PB0.95x FY17
05/03/17 UOB Kay Hian DBS 19.86 23.3 Buy GGM, PB1.25x FY17
05/08/17 Macquarie DBS 20.42 21 Outperform
05/18/17 DIR DBS 20.8 23 Outperform
05/23/17 Jefferies DBS 20.86 22.5 Buy DDM
05/31/17 Macquarie DBS 20.6 22 Outperform
06/08/17 UOB Kay Hian DBS 20.43 23.3 Buy
06/09/17 Credit Suisse DBS 20.47 22.6 Outperform
06/09/17 Deutsche DBS 20.47 21 Buy GGM, PB1.3x
06/14/17 Kim Eng DBS 20.78 19.18 Hold PB1.1x FY18
06/22/17 Macquarie DBS 20.4 22.2 Outperform PB1.22x
06/28/17 DMG & Partners DBS 20.26 20.5 Neutral
07/03/17 Kim Eng DBS 20.74 19.18 Hold
07/04/17 UOB Kay Hian DBS 20.65 25.25 Buy GGM, PB1.3x FY18
07/12/17 Credit Suisse DBS 20.77 22.7 Outperform
08/02/17 Macquarie DBS 21.95 22.2 Outperform PB1.22x
08/04/17 Lim & Tan DBS 22.08 0 Hold
08/04/17 DMG & Partners DBS 22.08 20.65 Neutral GGM, PB1.1x FY17
08/04/17 OCBC DBS 22.08 22.5 Hold Buy @ $21 or lower
08/07/17 CIMB DBS 21.49 21.5 Hold GGM
08/07/17 DIR DBS 21.49 23 Outperform Warranted Equity Method, PB1.24x
08/07/17 UOB Kay Hian DBS 21.49 24.85 Buy GGM, PB1.29x FY18
08/07/17 Kim Eng DBS 21.49 19.18 Hold
08/07/17 phillip DBS 21.49 17.92 Reduce GGM, PB0.98x FY18
08/07/17 UBS DBS 21.49 21.2 Neutral
08/22/17 Kim Eng DBS 20.49 21.5 Hold GGM, PB1x FY18
08/23/17 Deutsche DBS 20.54 22 Hold
09/05/17 OCBC DBS 20.35 22.4 Hold
09/12/17 DMG & Partners DBS 20.43 20.65 Neutral PB1x FY18
09/14/17 OCBC DBS 20.38 22.5 Buy
09/18/17 phillip DBS 20.06 21.45 Accumulate GGM, PB1.2x FY17
09/18/17 Kim Eng DBS 20.06 21.5 Hold
09/21/17 DIR DBS 20.48 23.3 Outperform GGM, PB1.24x
10/09/17 DIR DBS 21.5 23.3 Outperform
10/20/17 UOB Kay Hian DBS 21.7 24.48 Buy GGM, PB1.27x FY17
10/20/17 phillip DBS 21.7 25.7 Buy
11/01/17 UOB Kay Hian DBS 22.78 24.48 Buy GGM, PB1.27x FY18
11/06/17 DMG & Partners DBS 22.97 20.65 Neutral
11/06/17 Lim & Tan DBS 22.97 0 Neutral
11/07/17 Kim Eng DBS 22.79 22.75 Hold GGM, PB1.2x FY18
11/07/17 UOB Kay Hian DBS 22.79 24.4 Buy GGM, PB1.3x FY18
11/07/17 Credit Suisse DBS 22.79 25.3 Outperform
11/07/17 DMG & Partners DBS 22.79 21.45 Neutral GGM, PB1.08x FY18
11/07/17 UBS DBS 22.79 26 Buy
11/08/17 phillip DBS 23.49 26.83 Buy GGM, PB1.39x FY18
11/20/17 CIMB DBS 24.13 25 Add
11/20/17 UOB Kay Hian DBS 24.13 26.1 Buy GGM, PB1.38x FY17
11/20/17 Credit Suisse DBS 24.13 27.4 Outperform
11/21/17 DMG & Partners DBS 23.86 23.33 Neutral GGM
11/27/17 phillip DBS 25.1 29.3 Buy GGM, PB1.51x FY18
12/01/17 UOB Kay Hian DBS 24.43 26.1 Buy GGM, PB1.38x FY18
12/08/17 phillip DBS 24.24 29.3 Buy
12/13/17 OCBC DBS 25.2 27.4 Buy GGM, PB1.4x
12/20/17 CIMB DBS 24.71 25 Add
01/02/18 UOB Kay Hian DBS 24.85 26.1 Buy GGM, PB1.38x FY18
01/05/18 UOB Kay Hian DBS 26.5 29.5 Buy GGM, PB1.56x FY18
01/08/18 DMG & Partners DBS 26.32 23.33 Neutral
01/09/18 Deutsche DBS 26.45 27.1 Hold
01/10/18 phillip DBS 26.51 29.3 Buy
02/01/18 OCBC DBS 26.4 29.5 Buy PB1.45x FY18
02/02/18 UOB Kay Hian DBS 26.61 28.38 Buy
02/08/18 Macquarie DBS 25.36 27.5 Outperform
02/08/18 Lim & Tan DBS 25.36 0 Buy
02/08/18 DMG & Partners DBS 25.36 25 Neutral PB1.3x FY18
02/09/18 Kim Eng DBS 26.71 29.66 Hold
02/09/18 UOB Kay Hian DBS 26.71 30.4 Buy GGM, PB1.62x FY18
02/09/18 CIMB DBS 26.71 29 Add GGM, PB1.5x FY18, PER11.6x FY19
02/12/18 phillip DBS 26.71 29.3 Buy GGM, PB1.58x
02/22/18 UBS DBS 29.45 35 Buy
03/02/18 UOB Kay Hian DBS 28.8 30.4 Buy
03/05/18 OCBC DBS 28.41 32.53 Buy PB1.7x
03/05/18 Credit Suisse DBS 28.41 31.1 Outperform
03/15/18 DMG & Partners DBS 29.12 27 Neutral GGM, PB1.39x FY18
03/20/18 Kim Eng DBS 28.07 29.66 Hold
03/22/18 Lim & Tan DBS 28.4 0 Buy
04/03/18 UOB Kay Hian DBS 27.32 30.4 Buy
04/16/18 Credit Suisse DBS 28.42 35.5 Buy
04/19/18 UOB Kay Hian DBS 29.36 31.08 Buy GGM, PB1.7x FY18
04/20/18 CIMB DBS 29.92 33 Add GGM, PB1.7x FY18
04/30/18 DMG & Partners DBS 30 27 Neutral
04/30/18 OCBC DBS 30 34.6 Buy
05/02/18 phillip DBS 30.84 32.7 Accumulate GGM, PB1.8x FY18
05/02/18 UOB Kay Hian DBS 30.84 35.5 Buy GGM, PB1.82x FY19
05/02/18 DMG & Partners DBS 30.84 29.6 Neutral GGM, PB1.51x (ex-div)
05/02/18 CIMB DBS 30.84 34 Add GGM, PB1.8x FY18
05/02/18 Lim & Tan DBS 30.84 0 Buy on weakness
05/02/18 Kim Eng DBS 30.84 30.8 Hold GGM, PB1.6 FY18
05/04/18 Macquarie DBS 29.28 29.5 Neutral
05/08/18 Goldman Sachs DBS 28.97 36 Buy DDM

Stock calls for 10 May 2018


Date Analyst Company Last Target Call Valuation
05/10/18 DBS Vickers APAC Realty 1.03 1.32 Buy DCF & PER15x FY18
05/10/18 CIMB China Aviation Oil 1.56 2.03 Add PER12.5x FY19
05/10/18 UOB Kay Hian China Aviation Oil 1.56 2.13 Buy PER13.5x FY18
05/10/18 phillip Comfortdelgro 2.34 2.5 Buy
05/10/18 UOB Kay Hian CSE Global 0.44 0.61 Buy PER15x FY19
05/10/18 phillip F & N 2.08 2.75 Buy Sum of parts
05/10/18 DBS Vickers PACC Offshore 0.345 0.32 Hold PB1x FY18
05/10/18 CIMB Perennial Reit 0.86 1.18 Add RNAV (40% discount)
05/10/18 DMG & Partners Thai Beverage 0.83 1.06 Buy

KL-SG HSR might be aborted after Mahathir won the GE.

https://www.channelnewsasia.com/news/asia/hsr-wasted-opportunity-if-kl-singapore-high-speed-rail-cancelled-10198022

Mahathir had stated that he might terminate the KL-SG HSR if he had won the GE and he did.

Mahathir will be the new PM and he may execute what was said during his GE propaganda.


Wednesday, May 9, 2018

Dasin Retail - Stock calls


Date Analyst Company Last Target Call Valuation
01/16/18 phillip Dasin Retail 0.85 0.98 Buy DDM
03/02/18 phillip Dasin Retail 0.87 0.98 Buy DDM

Dairy Farm - Stock calls


Date Analyst Company Last Target Call Valuation
01/03/17 DMG & Partners Dairy Farm 7.19 8.6 Buy DCF, PER21x FY17
01/12/17 DMG & Partners Dairy Farm 7.26 8.5 Buy DCF
01/20/17 CIMB Dairy Farm 7.37 8.7 Add
03/03/17 CIMB Dairy Farm 8.44 9.18 Add PER23.7x CY18
03/06/17 DBS Vickers Dairy Farm 8.51 9.96 Buy Sum of parts
03/06/17 DMG & Partners Dairy Farm 8.51 10 Buy DCF
03/06/17 Lim & Tan Dairy Farm 8.51 0 Hold PER23x
03/16/17 DIR Dairy Farm 8.95 10.3 Outperform PER26.5x FY17
05/02/17 DMG & Partners Dairy Farm 8.9 10 Buy
05/05/17 CIMB Dairy Farm 8.89 9.18 Add PER23.7x CY18
06/16/17 DMG & Partners Dairy Farm 8.04 10 Buy DCF, PER26x FY17
06/30/17 DIR Dairy Farm 7.92 10.5 Buy PER26.5x FY17
07/04/17 DMG & Partners Dairy Farm 7.95 10 Buy
07/10/17 DBS Vickers Dairy Farm 8.14 9.96 Buy
08/02/17 DMG & Partners Dairy Farm 8.02 10 Buy
08/04/17 CIMB Dairy Farm 8.06 9.18 Add PER23.7x CY18
08/07/17 DIR Dairy Farm 7.72 10 Buy PER26.5x FY18
08/07/17 DMG & Partners Dairy Farm 7.72 9.53 Buy DCF
08/10/17 DBS Vickers Dairy Farm 7.81 9.89 Buy Sum of parts
09/14/17 DIR Dairy Farm 8.06 10 Buy PER26.5x FY18
09/27/17 phillip Dairy Farm 7.48 9.89 Buy Sum of parts
11/29/17 DMG & Partners Dairy Farm 8.31 9.53 Buy
12/04/17 phillip Dairy Farm 8.08 9.89 Buy
12/19/17 DMG & Partners Dairy Farm 7.94 9.53 Buy
01/04/18 DMG & Partners Dairy Farm 7.9 9.53 Buy DCF
02/19/18 DMG & Partners Dairy Farm 8.38 9.53 Buy DCF
03/09/18 CIMB Dairy Farm 8.21 8.4 Hold PER21x CY19
03/12/18 phillip Dairy Farm 8.03 9.83 Buy Sum of parts
03/12/18 Lim & Tan Dairy Farm 8.03 0 Hold PER20x & 2.62% yield
03/13/18 DBS Vickers Dairy Farm 8.09 9.54 Buy Sum of parts
03/27/18 DMG & Partners Dairy Farm 9.1 9.16 Buy DCF
03/28/18 DBS Vickers Dairy Farm 8 9.77 Buy Sum of parts
04/16/18 phillip Dairy Farm 8.27 9.83 Buy
04/16/18 DMG & Partners Dairy Farm 8.27 9.16 Buy

CSE Global - Stock calls


Date Analyst Company Last Target Call Valuation
02/27/17 CIMB CSE Global 0.485 0.59 Add PER12x FY18
02/27/17 DBS Vickers CSE Global 0.485 0.46 Hold PER9.6x, Ex-Cash
03/13/17 CIMB CSE Global 0.495 0.59 Add PER12x FY18
03/13/17 OCBC CSE Global 0.495 0.44 Hold
05/15/17 CIMB CSE Global 0.5 0.56 Add PER12x FY18
06/15/17 OCBC CSE Global 0.475 0.45 Hold
07/25/17 CIMB CSE Global 0.43 0.39 Reduce PER10x FY18
08/14/17 CIMB CSE Global 0.395 0.32 Reduce PER10x FY18
11/10/17 CIMB CSE Global 0.345 0.31 Reduce PER10x CY19
01/12/18 CIMB CSE Global 0.37 0.31 Reduce PER10x CY19
02/26/18 Lim & Tan CSE Global 0.345 0 Buy
02/27/18 CIMB CSE Global 0.37 0.39 Hold PER12x CY19
03/08/18 CIMB CSE Global 0.37 0.39 Hold PER12x CY19
04/17/18 CIMB CSE Global 0.42 0.44 Hold
04/30/18 Lim & Tan CSE Global 0.42 0.55 Buy DCF & DDM & RV
05/02/18 UOB Kay Hian CSE Global 0.415 0.58 Buy PER15x FY19

Cromwell Reit (EUR) - Stock calls


Date Analyst Company Last Target Call Valuation
01/02/18 UBS Cromwell Reit (EUR) 0.555 0.62 Buy
01/02/18 Goldman Sachs Cromwell Reit (EUR) 0.555 0.58 Neutral DCF
03/19/18 DBS Vickers Cromwell Reit (EUR) 0.56 0.63 Buy
04/10/18 DBS Vickers Cromwell Reit (EUR) 0.59 0.63 Buy DCF

Stock calls for 9 May 2018


Date Analyst Company Last Target Call Valuation
05/09/18 Kim Eng Bumitama 0.67 0.99 Buy PER14x FY18
05/09/18 UOB Kay Hian Bumitama 0.67 0.8 Buy PER11x FY18
05/09/18 DBS Vickers Bumitama 0.67 0.94 Buy DCF, PER15.3x FY18
05/09/18 DBS Vickers Delfi 1.48 1.8 Buy PER26x FY18/19
05/09/18 DMG & Partners Delfi 1.48 1.54 Neutral
05/09/18 CIMB Frasers Logistics 1.03 1.24 Add DDM
05/09/18 OCBC Frasers Logistics 1.03 1.21 Buy
05/09/18 DMG & Partners Kimly 0.345 0.43 Buy DCF, PER22.8x FY18
05/09/18 DMG & Partners Mindchamps 0.795 1 Buy EV/Ebitda19x & DCF
05/09/18 phillip OCBC 13.08 14.9 Accumulate GGM, PB1.6x FY18
05/09/18 Kim Eng OCBC 13.08 14.6 Buy GGM, PB1.5x FY18
05/09/18 DBS Vickers Riverstone 0.985 1.27 Buy
05/09/18 Lim & Tan Riverstone 0.985 0 Hold
05/09/18 phillip Sembcorp Industries 3.06 3.83 Buy Sum of parts (10% discount)
05/09/18 Macquarie UOB 29.34 30.5 Outperform