Stock calls for 25 May 2018

Date	Analyst	Company	Last	Target	Call	Valuation
05/25/18	CIMB	AEM	1.47	1.78	Add	3-for-1 bonus
05/25/18	Kim Eng	Bukit Sembawang	6.17	8.55	Buy	RNAV (20% discount)
05/25/18	phillip	Dasin Retail	0.86	0.97	Buy	DDM
05/25/18	OCBC	First Reit	1.35	1.48	Buy
05/25/18	Lim & Tan	Metro	1.17	0	Hold
05/25/18	SAC Advisors	Sanli Env	0.25	0.36	Buy
05/25/18	phillip	SHS	0.23	0.29	Buy	PER10x FY19
05/25/18	CIMB	Sunningdale	1.28	2.5	Add
05/25/18	CIMB	Venture	20.55	25.64	Add

GL - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/25/17	CIMB	GL	0.78	0.84	Hold	RNAV (40% discount) CY17
04/24/17	Lim & Tan	GL	0.775	0	Buy
04/27/17	CIMB	GL	0.77	0.87	Add	RNAV (40% discount) CY17
08/28/17	Lim & Tan	GL	0.75	0	Buy
10/16/17	Lim & Tan	GL	0.855	0	Buy
10/31/17	UOB Kay Hian	GL	0.905	1.185	Buy	Sum of parts
11/09/17	UOB Kay Hian	GL	0.885	1.185	Buy
12/06/17	UOB Kay Hian	GL	0.87	1.185	Buy
01/04/18	UOB Kay Hian	GL	0.865	1.19	Buy

Geo Energy - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/22/17	phillip	Geo Energy	0.27	0.45	Buy	PER11x
03/08/17	phillip	Geo Energy	0.28	0.45	Buy	PER11x
05/25/17	phillip	Geo Energy	0.26	0.45	Buy	PER11x
08/28/17	phillip	Geo Energy	0.27	0.44	Buy	PER10x
09/11/17	Amfrasers	Geo Energy	0.25	0.36	Buy	DCF, PER5x FY18
11/28/17	phillip	Geo Energy	0.255	0.44	Buy	PER10x
12/06/17	phillip	Geo Energy	0.26	0.44	Buy	PER10x
12/27/17	Amfrasers	Geo Energy	0.255	0.36	Buy
03/19/18	phillip	Geo Energy	0.225	0.47	Buy	PER10x

Stock calls for 24 May 2018

Date	Analyst	Company	Last	Target	Call	Valuation
05/24/18	Lim & Tan	Boustead	0.785	0	Hold
05/24/18	OCBC	Cache Logistics	0.795	0.83	Hold
05/24/18	DBS Vickers	Silverlake	0.545	0.65	Not Rated	PER22x FY19
05/24/18	OCBC	Soilbuild Reit	0.665	0.71	Buy

Trump has cancelled the US-NK summit in Singapore.

https://www.bloombergquint.com/politics/2018/05/24/trump-cancels-june-12-singapore-summit-with-north-korea-s-kim

There are tell-tale signs that the summit won't take place.  We had stated that the summit was in jeopardy in our previous posting.

http://sg-stock.blogspot.sg/2018/05/trump-kim-summit-in-singapore-is-in.html

India to tax Cryptocurrency after Thailand.

https://cointelegraph.com/news/india-considers-taxing-cryptocurrency-at-18-as-intangible-property-reports

https://www.ccn.com/thailand-cryptocurrency-tax-rates/

India is taxing Crypto after Thailand because it sees that there will be a financial turmoil in the Crypto industry and the government may need to bail out the distressed investors.  Therefore, it is preparing a financial coffer to deal with this future Crypto fiasco by implementing an 18% Crypto trading tax.

Genting Hong Kong - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/31/17	UOB Kay Hian	Genting Hong Kong	0.3	0.28	Hold	Buy @ $0.23
03/20/17	UOB Kay Hian	Genting Hong Kong	0.315	0.28	Hold	Sum of parts, Buy @ $0.24
06/16/17	UOB Kay Hian	Genting Hong Kong	0.31	0.26	Sell	Sum of parts
08/02/17	UOB Kay Hian	Genting Hong Kong	0.28	0.26	Sell
08/21/17	UOB Kay Hian	Genting Hong Kong	0.27	0.26	Hold	Sum of parts, Buy @ $0.24
10/04/17	UOB Kay Hian	Genting Hong Kong	0.25	0.265	Hold	Sum of parts
12/15/17	UOB Kay Hian	Genting Hong Kong	0.23	0.24	Hold	Sum of parts, Buy @ $0.22

Genting - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	DMG & Partners	Genting	0.905	0.82	Neutral
01/03/17	OCBC	Genting	0.905	0.88	Hold
01/05/17	Credit Suisse	Genting	0.91	1.18	Outperform
01/12/17	CIMB	Genting	0.935	0.93	Hold	DCF
01/31/17	UOB Kay Hian	Genting	0.96	0.91	Hold	Buy @ $0.85
02/23/17	DBS Vickers	Genting	0.98	1.2	Buy	DCF
02/23/17	Deutsche	Genting	0.98	1.35	Buy
02/23/17	DMG & Partners	Genting	0.98	0.93	Neutral	DCF
02/23/17	Kim Eng	Genting	0.98	1.1	Buy
02/23/17	OCBC	Genting	0.98	1.17	Buy
02/23/17	UOB Kay Hian	Genting	0.98	1.01	Hold	EV/Ebitda11.6x FY17, Buy @ $0.95 or below
02/23/17	Nomura	Genting	0.98	1.16	Buy
02/24/17	CIMB	Genting	1.03	1.11	Add	EV/Ebitda 9x FY18
03/13/17	Credit Suisse	Genting	1	1.2	Outperform
03/17/17	DBS Vickers	Genting	1	1.2	Buy
04/07/17	Credit Suisse	Genting	1.025	1.2	Outperform
05/04/17	Kim Eng	Genting	1.11	1.25	Buy	EV/Ebitda12x FY17
05/15/17	CIMB	Genting	1.08	1.24	Add	EV/Ebitda12x FY18
05/15/17	Credit Suisse	Genting	1.08	1.35	Outperform	Ev/Ebitda13.1x FY18
05/15/17	DMG & Partners	Genting	1.08	1.04	Neutral	DCF
05/15/17	OCBC	Genting	1.08	1.17	Buy
05/15/17	UOB Kay Hian	Genting	1.08	1.15	Hold	EV/Ebitda11.8x FY17, Buy @ $1.05
05/15/17	Nomura	Genting	1.08	1.38	Buy
05/16/17	DBS Vickers	Genting	1.15	1.35	Buy	DCF
06/16/17	DBS Vickers	Genting	1.155	1.35	Buy
06/22/17	Deutsche	Genting	1.145	1.2	Hold	EV/Ebitda12x FY17
07/13/17	UOB Kay Hian	Genting	1.055	1.12	Hold
07/28/17	Credit Suisse	Genting	1.15	1.35	Outperform
08/03/17	CIMB	Genting	1.18	1.35	Add	EV/Ebitda 12x FY18
08/03/17	UOB Kay Hian	Genting	1.18	1.15	Hold	EV/Ebitda10.5x FY18, Buy @ $1.05
08/03/17	DMG & Partners	Genting	1.18	1.19	Neutral	DCF
08/03/17	Kim Eng	Genting	1.18	1.35	Buy	EV/Ebitda 12x
08/03/17	OCBC	Genting	1.18	1.32	Buy	FCFE
08/03/17	DBS Vickers	Genting	1.18	1.45	Buy	EV/Ebitda13x
08/03/17	Credit Suisse	Genting	1.18	1.48	Outperform
08/03/17	Nomura	Genting	1.18	1.42	Buy
09/26/17	Kim Eng	Genting	1.15	1.35	Buy
10/11/17	Deutsche	Genting	1.21	1.2	Hold	EV/Ebitda12x FY17
10/26/17	CIMB	Genting	1.2	1.35	Add	EV/Ebitda12x FY18
10/27/17	UOB Kay Hian	Genting	1.25	1.15	Hold
11/07/17	CIMB	Genting	1.235	1.45	Add
11/07/17	UOB Kay Hian	Genting	1.235	1.3	Hold	EV/Ebitda11.2x FY18, Buy @ $1.15
11/07/17	Credit Suisse	Genting	1.235	1.6	Outperform
11/07/17	DMG & Partners	Genting	1.235	1.21	Neutral	DCF
11/07/17	OCBC	Genting	1.235	1.35	Buy	FCFE
11/07/17	Kim Eng	Genting	1.235	1.42	Buy	EV/Ebitda12x FY18
11/07/17	DBS Vickers	Genting	1.235	1.51	Buy	DCF
11/07/17	Nomura	Genting	1.235	1.53	Buy
12/06/17	DBS Vickers	Genting	1.35	1.51	Buy
12/14/17	Kim Eng	Genting	1.34	1.42	Buy
12/20/17	CIMB	Genting	1.34	1.45	Add
01/05/18	DBS Vickers	Genting	1.34	1.51	Buy
02/07/18	CIMB	Genting	1.27	1.45	Add
02/26/18	Kim Eng	Genting	1.3	1.46	Buy	EV/Ebitda 12x FY18
02/26/18	UOB Kay Hian	Genting	1.3	1.3	Hold	EV/Ebitda10.4x FY18, Buy @ $1.15
02/26/18	DBS Vickers	Genting	1.3	1.49	Buy	DCF
02/26/18	DMG & Partners	Genting	1.3	1.34	Neutral	DCF
02/26/18	OCBC	Genting	1.3	1.45	Buy	FCFE
02/26/18	CIMB	Genting	1.3	1.49	Add	EV/Ebitda12x FY19
02/26/18	Nomura	Genting	1.3	1.52	Buy
03/05/18	CIMB	Genting	1.15	1.49	Add	EV/Ebitda12x FY19
04/05/18	UOB Kay Hian	Genting	1.03	1.3	Buy	EV/Ebitda10.4x FY18
04/06/18	CIMB	Genting	1.08	1.4	Add	EV/Ebitda11.5x FY19
04/10/18	Kim Eng	Genting	1.14	1.46	Buy	EV/Ebitda 12x FY18
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
05/14/18	DMG & Partners	Genting	1.28	1.42	Buy	DCF

Stock calls for 23 May 2018

Date	Analyst	Company	Last	Target	Call	Valuation
05/23/18	DMG & Partners	Breadtalk	0.925	0.93	Neutral	Sum of parts, Stock split 1-into-2
05/23/18	UOB Kay Hian	Cityneon	0.99	1.55	Buy
05/23/18	OCBC	Frasers Centrepoint Trust	2.2	2.49	Buy
05/23/18	UOB Kay Hian	M1	1.76	1.6	Sell
05/23/18	OCBC	Mapletree Greater China	1.16	1.42	Buy
05/23/18	Lim & Tan	SGX	7.48	0	Buy on weakness
05/23/18	UOB Kay Hian	ST Engineering	3.47	4.1	Buy
05/23/18	UOB Kay Hian	Sunningdale	1.27	2	Buy

Australia is regretting its anti-China stance now.

https://sg.finance.yahoo.com/news/chinese-newspaper-suggests-cut-imports-downgrade-ties-australia-053518130--finance.html

The white trash of the east is eager to mend the soured relationship with China because of declining economic benefits from China.

It looks like they've not heard of this saying, "Never bite the hand that feeds you".

We did warn about making the Rohingya issue an international issue.

https://sg.news.yahoo.com/armed-rohingya-group-massacred-hindus-000746360.html

It will be harder to integrate Rohingya into Myanmar when Rohingya becomes an international issue because Myanmar and Rohingya have a historical feud which is difficult to resolve.

The dark side of Rohingya will come to the forefront when it becomes an international issue.  This Rohingya group that massacred the Hindus is just the tip of the iceberg.

http://sg-stock.blogspot.sg/2018/01/whats-wrong-with-singapores-mindset.html

http://sg-stock.blogspot.sg/2017/12/the-truth-of-rohingya-and-main-culprit.html

http://sg-stock.blogspot.sg/2018/01/the-world-is-silent-on-rohingya-because.html

KL-SG HSR will be delayed!

https://sg.news.yahoo.com/full-review-mega-projects-including-031735593.html

Malaysia has been notorious for the low productivity and the HSR review will take a super long time.  Furthermore, Malaysia has just declared that it is having a MYR$1T debt.

Therefore, it is a confirmation that the KL-SG HSR will be delayed because it doesn't want to pay billions in a penalty to SG for cancellation.

Fu Yu - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/06/17	DMG & Partners	Fu Yu	0.194	0.29	Buy
02/24/17	DMG & Partners	Fu Yu	0.21	0.27	Buy	DCF
03/03/17	DBS Vickers	Fu Yu	0.205	0.25	Not Rated	PER6x FY7, Ex-Cash
05/11/17	DMG & Partners	Fu Yu	0.225	0.23	Neutral
05/16/18	DMG & Partners	Fu Yu	0.186	0.2	Neutral	DCF

Frencken - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/22/17	UOB Kay Hian	Frencken	0.59	0.79	Buy	PER12.3x FY18
05/16/17	Amfrasers	Frencken	0.445	0.63	Buy	PER10x FY17
08/11/17	Lim & Tan	Frencken	0.52	0.63	Buy	PER8.1x
08/16/17	Amfrasers	Frencken	0.51	0.73	Buy	PER10x FY18, PB1.2x
11/15/17	Amfrasers	Frencken	0.54	0.66	Buy	PER10x FY18
02/26/18	Amfrasers	Frencken	0.67	0.72	Hold	PER12x FY18
03/07/18	Amfrasers	Frencken	0.63	0.72	Buy	PER12x FY18
05/11/18	UOB Kay Hian	Frencken	0.54	0.79	Buy

Stock calls for 22 May 2018

Date	Analyst	Company	Last	Target	Call	Valuation
05/22/18	Amfrasers	Japan Foods	0.485	0.64	Buy	DCF
05/22/18	CIMB	Keppel Corp	8.19	10	Add	Sum of parts
05/22/18	CIMB	Sembcorp Marine	2.27	2.52	Add	PB2.2x CY18
05/22/18	NRA	Serial System	0.1666	0.24	Overweight	DCF
05/22/18	Amfrasers	Uni-Asia	1.4	1.81	Buy	Sum of parts, PB0.5x FY18, PER10x FY18
05/22/18	DMG & Partners	Valuetronics	0.845	0.96	Buy
05/22/18	Lim & Tan	Wheelock Properties	1.81	0	Buy

Hyflux is going bankrupt soon.

https://www.bloombergquint.com/business/2018/05/22/hyflux-said-to-mull-seeking-court-protection-for-creditor-talks#gs.9OVbY8o

The once touted Singapore female CEO is going down the abyss now.

Hyflux's share price will tank when it resumes trading.

This is what Vietnam gets after granting approval for USA aircraft carrier visitation.

https://sg.finance.yahoo.com/news/us-hikes-tariffs-chinese-steel-064531281.html

The USA tramples over Vietnam after Vietnam war by imposing steel tariffs against Vietnam. 

Vietnam must be regretting now for granting the approval for the USA aircraft carrier visitation.

http://sg-stock.blogspot.sg/2018/01/the-usa-aircraft-carrier-will-visit.html

https://www.nytimes.com/2018/03/04/world/asia/carl-vinson-vietnam.html

USA is pushing EU to forge closer relationship with China.

https://www.yahoo.com/news/germanys-merkel-visit-china-may-24-25-spokeswoman-095040740--sector.html

The USA is helping China to forge closer relationships with EU by coercing the EU with tariffs.

Many countries are going to China for political and economic benefits nowadays.

Another economist portends that bitcoin is worthless.

https://www.marketwatch.com/Story/theres-a-decent-probability-bitcoin-goes-to-zero-says-vanguard-economist-2018-05-21?&siteid=yhoof2&yptr=yahoo

More and more economists are warning about bitcoin nowadays.

http://sg-stock.blogspot.sg/2018/03/bitcoin-is-only-worth-100-not-100000-in.html

http://sg-stock.blogspot.sg/2018/03/bitcoin-is-worthless.html

http://sg-stock.blogspot.sg/2018/02/world-bank-says-bitcoin-is-scam.html

Frasers Property - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/09/17	DBS Vickers	Frasers Property	1.62	2	Buy	RNAV (30% discount)
02/10/17	DBS Vickers	Frasers Property	1.6	2	Buy	RNAV (30% discount)
02/10/17	DIR	Frasers Property	1.6	1.89	Buy	RNAV (30% discount)
02/13/17	CIMB	Frasers Property	1.67	2.02	Add	RNAV (30% discount)
03/15/17	DIR	Frasers Property	1.705	1.89	Buy	RNAV (30% discount)
03/17/17	DBS Vickers	Frasers Property	1.74	2	Buy
04/04/17	DBS Vickers	Frasers Property	1.745	2	Buy	RNAV (30% discount)
04/04/17	DIR	Frasers Property	1.745	1.91	Outperform	RNAV (30% discount)
04/10/17	CIMB	Frasers Property	1.785	2.02	Add	RNAV (20% discount)
04/17/17	Lim & Tan	Frasers Property	1.79	0	Buy
04/18/17	DIR	Frasers Property	1.755	2.03	Outperform	Sum of parts (30% discount)
05/11/17	Lim & Tan	Frasers Property	1.865	0	Buy
05/12/17	CIMB	Frasers Property	1.865	2.05	Add	RNAV (30% discount)
05/12/17	DBS Vickers	Frasers Property	1.865	2.3	Buy	RNAV (20% discount)
05/12/17	DIR	Frasers Property	1.865	2.04	Outperform	Sum of parts (30% discount)
06/09/17	UOB Kay Hian	Frasers Property	1.885	2.26	Buy
06/14/17	Lim & Tan	Frasers Property	1.89	0	Buy
08/01/17	DBS Vickers	Frasers Property	1.925	2.3	Buy	RNAV (20% discount), PB1x
08/10/17	CIMB	Frasers Property	1.915	2.09	Add	RNAV (30% discount)
08/11/17	DBS Vickers	Frasers Property	1.91	2.35	Buy	RNAV (20% discount), PB1x
09/12/17	DBS Vickers	Frasers Property	2.12	2.35	Buy
09/12/17	Lim & Tan	Frasers Property	2.12	0	Hold
11/10/17	Lim & Tan	Frasers Property	2.04	0	Buy
11/14/17	DBS Vickers	Frasers Property	2.05	2.35	Buy	RNAV (20% discount), PB1x
11/14/17	CIMB	Frasers Property	2.05	2.37	Add	RNAV (30% discount)
12/15/17	Lim & Tan	Frasers Property	2.08	0	Buy
12/18/17	DBS Vickers	Frasers Property	2.12	2.35	Buy
01/02/18	Lim & Tan	Frasers Property	2.08	0	Buy
02/12/18	CIMB	Frasers Property	1.96	2.4	Add	RNAV (30% discount)
02/12/18	DBS Vickers	Frasers Property	1.96	2.35	Buy	RNAV (20% discount), PB1x
04/13/18	DBS Vickers	Frasers Property	1.96	2.35	Buy
05/11/18	CIMB	Frasers Property	1.95	2.4	Add