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Thursday, May 31, 2018

Singapore ministers do not dare to comment on Mahathir's intention to build an island on the middle rocks.

https://www.channelnewsasia.com/news/singapore/pedra-branca-singapore-malaysia-icj-to-drop-challenge-10291432

https://www.todayonline.com/content/full-singapore-ministry-foreign-affairs-statement-malaysias-decision-withdraw-icj-challenge

2 Singapore ministers (current & ex) commented on Pedra Branca but both didn't comment on the middle rocks' island that Malaysia was constructing.

It is definitely a security concern to Singapore that Malaysia is building an island for maritime purpose so near to Singapore (just 44km away) but SG doesn't dare to make any remark.

Mahathir is embarking on his anti-Singapore barrage by trying to contain Singapore.  First, it was the HSR cancellation and followed immediately by the island construction remark on the middle rocks.  This won't be the end but a beginning as he loves to skin SG alive.



Hock Lian Seng - Stock calls


Date Analyst Company Last Target Call Valuation
02/16/17 UOB Kay Hian Hock Lian Seng 0.515 0.69 Buy PER7.6x FY17, Ex-Cash
03/02/17 phillip Hock Lian Seng 0.585 0.57 Neutral Sum of parts
03/02/17 UOB Kay Hian Hock Lian Seng 0.585 0.69 Buy
05/11/17 phillip Hock Lian Seng 0.475 0.57 Accumulate Sum of parts
05/11/17 UOB Kay Hian Hock Lian Seng 0.475 0.585 Buy PER7.6x FY17, Ex-Cash
12/06/17 DBS Vickers Hock Lian Seng 0.455 0.58 Not Rated PER11x FY18
02/20/18 UOB Kay Hian Hock Lian Seng 0.495 0.63 Buy
02/27/18 UOB Kay Hian Hock Lian Seng 0.51 0.65 Buy

Ho Bee - Stock calls


Date Analyst Company Last Target Call Valuation
01/11/17 Kim Eng Ho Bee 2.06 2.13 Hold
02/06/17 phillip Ho Bee 2.29 2 Accumulate
02/09/17 Lim & Tan Ho Bee 2.3 0 Buy
02/28/17 Kim Eng Ho Bee 2.3 2.47 Hold
03/02/17 phillip Ho Bee 2.26 2.64 Accumulate RNAV (30% discount)
03/08/17 UOB Kay Hian Ho Bee 2.32 2.82 Buy
03/13/17 Kim Eng Ho Bee 2.35 2.47 Hold
03/13/17 UOB Kay Hian Ho Bee 2.35 3.02 Buy
03/16/17 Kim Eng Ho Bee 2.3 2.6 Hold
04/26/17 Kim Eng Ho Bee 2.31 2.6 Hold RNAV (36% discount)
04/27/17 phillip Ho Bee 2.37 2.64 Accumulate RNAV (30% discount)
05/29/17 Kim Eng Ho Bee 2.36 3 Buy RNAV (29% discount)
06/16/17 Kim Eng Ho Bee 2.37 3 Buy
07/11/17 Kim Eng Ho Bee 2.35 3 Buy
08/14/17 phillip Ho Bee 2.32 2.98 Accumulate RNAV (30% discount)
08/22/17 CIMB Ho Bee 2.35 3.39 Add RNAV (35% discount)
08/28/17 Kim Eng Ho Bee 2.39 3 Buy
09/18/17 UOB Kay Hian Ho Bee 2.32 3.02 Buy
09/25/17 Kim Eng Ho Bee 2.36 3 Buy
11/10/17 phillip Ho Bee 2.57 2.98 Accumulate RNAV (30% discount)
11/17/17 Kim Eng Ho Bee 2.53 3 Buy
12/01/17 UOB Kay Hian Ho Bee 2.48 3.02 Buy
12/18/17 Kim Eng Ho Bee 2.41 3 Buy
03/01/18 Kim Eng Ho Bee 2.48 3.15 Buy RNAV (30% discount)
03/02/18 phillip Ho Bee 2.51 2.98 Accumulate RNAV (30% discount)
04/11/18 Kim Eng Ho Bee 2.54 3.15 Buy
04/27/18 Kim Eng Ho Bee 2.54 3.3 Buy RNAV
04/27/18 Lim & Tan Ho Bee 2.54 0 Buy
04/30/18 phillip Ho Bee 2.56 2.98 Accumulate RNAV (30% discount)

Stock calls for 31 May 2018


Date Analyst Company Last Target Call Valuation
05/31/18 Lim & Tan Accordia Golf Trust 0.595 0 Hold
05/31/18 NRA Accrelist 0.006 0.012 Overweight
05/31/18 CIMB Dairy Farm 8.95 9.55 Add
05/31/18 DBS Vickers Frasers Commercial Trust 1.36 1.65 Buy
05/31/18 phillip Old Chang Kee 0.755 0.98 Buy DCF, PER22.6x FY19
05/31/18 phillip SATS 5.28 5.58 Accumulate DCF
05/31/18 UOB Kay Hian SATS 5.28 5.7 Buy DCF, PER24.3x FY19
05/31/18 DBS Vickers SATS 5.28 5.64 Buy
05/31/18 OCBC SATS 5.28 5.5 Hold
05/31/18 DBS Vickers Yoma 0.4 0.58 Buy

Wednesday, May 30, 2018

HMI - Stock calls


Date Analyst Company Last Target Call Valuation
02/10/17 Amfraserss HMI 0.645 0.84 Buy
02/13/17 Amfraserss HMI 0.645 0.86 Buy DCF, PER36x FY18
03/10/17 phillip HMI 0.61 0.83 Buy DCF
03/13/17 CIMB HMI 0.635 0.81 Add DCF
03/24/17 OCBC HMI 0.64 0.8 Buy DCF
04/20/17 OCBC HMI 0.625 0.8 Buy
04/20/17 UOB Kay Hian HMI 0.625 0.83 Buy DCF
05/09/17 CIMB HMI 0.615 0.81 Add DCF
05/12/17 OCBC HMI 0.605 0.8 Buy DCF
05/15/17 Amfrasers HMI 0.6 0.86 Buy DCF, PER38x FY18
05/15/17 CIMB HMI 0.6 0.83 Add DCF
05/15/17 phillip HMI 0.6 0.83 Buy DCF, PER35x FY18
06/05/17 Kim Eng HMI 0.63 0.84 Buy DCF, PER35x FY18
06/08/17 OCBC HMI 0.69 0.8 Buy
06/19/17 UOB Kay Hian HMI 0.685 0.83 Buy DCF
08/01/17 UOB Kay Hian HMI 0.665 0.83 Buy DCF
08/24/17 OCBC HMI 0.65 0.8 Buy DCF
08/25/17 Kim Eng HMI 0.645 0.8 Buy DCF
08/25/17 CIMB HMI 0.645 0.83 Add DCF
08/29/17 phillip HMI 0.645 0.83 Buy DCF
09/11/17 UOB Kay Hian HMI 0.635 0.83 Buy DCF
11/15/17 CIMB HMI 0.715 0.83 Add DCF
11/15/17 phillip HMI 0.715 0.83 Buy DCF
11/15/17 UOB Kay Hian HMI 0.715 0.83 Buy DCF
11/15/17 Kim Eng HMI 0.715 0.8 Buy DCF
01/08/18 CIMB HMI 0.665 0.83 Add DCF
02/14/18 phillip HMI 0.63 0.83 Buy DCF
02/14/18 UOB Kay Hian HMI 0.63 0.83 Buy DCF
02/14/18 Kim Eng HMI 0.63 0.8 Buy DCF
05/11/18 phillip HMI 0.645 0.83 Buy DCF
05/11/18 UOB Kay Hian HMI 0.645 0.83 Buy DCF
05/16/18 Kim Eng HMI 0.665 0.8 Buy

Hi-P - Stock calls


Date Analyst Company Last Target Call Valuation
05/23/17 DBS Vickers Hi-P 0.88 1.07 Buy PER12x FY18
06/16/17 DBS Vickers Hi-P 0.935 1.07 Buy
08/07/17 DBS Vickers Hi-P 1.19 1.45 Buy PER13x
10/03/17 DBS Vickers Hi-P 1.405 1.67 Buy PER13.2x FY18
11/08/17 DBS Vickers Hi-P 1.93 2.3 Buy PER15.4x FY18
12/06/17 DBS Vickers Hi-P 1.61 2.3 Buy
12/21/17 Kim Eng Hi-P 1.75 2.11 Buy PB3.4x FY17, PER13.6x FY18, PEG0.7x
02/15/18 Kim Eng Hi-P 1.92 2.43 Buy PB3.2x FY18
02/15/18 DBS Vickers Hi-P 1.92 2.48 Buy PER14.4x FY18
04/03/18 DBS Vickers Hi-P 2.17 2.48 Buy
04/27/18 DBS Vickers Hi-P 1.8 1.88 Hold PER13.3x FY18
05/03/18 DBS Vickers Hi-P 1.69 1.8 Hold PER13.3x FY18
05/03/18 Lim & Tan Hi-P 1.69 0 Sell
05/04/18 Kim Eng Hi-P 1.57 1.45 Hold PB2x

Hatten Land - Stock calls


Date Analyst Company Last Target Call Valuation
02/28/17 NRA Hatten Land 0.27 0.44 Overweight
03/14/17 UOB Kay Hian Hatten Land 0.285 0.43 Buy Sum of parts
05/16/17 UOB Kay Hian Hatten Land 0.196 0.43 Buy Sum of parts
06/21/17 CIMB Hatten Land 0.181 0.38 Add RNAV (45% discount)
07/05/17 UOB Kay Hian Hatten Land 0.225 0.43 Buy
08/18/17 CIMB Hatten Land 0.2 0.38 Add RNAV (45% discount)
08/21/17 NRA Hatten Land 0.205 0.46 Overweight DCF, PER20.2x FY18

Stock calls for 30 May 2018


Date Analyst Company Last Target Call Valuation
05/30/18 DMG & Partners APAC Realty 0.905 1.35 Buy DCF
05/30/18 DBS Vickers MM2 Asia 0.495 0.7 Buy Sum of parts
05/30/18 Lim & Tan SATS 5.35 0 Hold
05/30/18 CIMB Valuetronics 0.795 0.95 Add PER10x CY19
05/30/18 UOB Kay Hian Valuetronics 0.795 0.96 Buy PER11.3x FY19
05/30/18 DMG & Partners Valuetronics 0.795 0.92 Buy PER9.5x FY19
05/30/18 Kim Eng Valuetronics 0.795 1.15 Buy

Monday, May 28, 2018

Mahathir wants to terminate KL-SG HSR.

https://sg.finance.yahoo.com/news/malaysia-pm-drop-high-speed-rail-project-singapore-091027991.html

This old man doesn't like Singapore at all.  He didn't get a chance to skin Singapore in the past.  Therefore, he is doing it now by trying to stop our progress.  He doesn't want SG to be linked to the OBR initiative.

Guocoland - Stock calls


Date Analyst Company Last Target Call Valuation
01/24/17 CIMB Guocoland 1.845 2.59 Add RNAV (25% discount)
03/08/17 UOB Kay Hian Guocoland 1.85 2.55 Buy
08/17/17 Kim Eng Guocoland 2.04 2.75 Buy RNAV (22% discount)
08/25/17 UOB Kay Hian Guocoland 2.28 2.8 Buy RNAV (23.5% discount)
08/29/17 CIMB Guocoland 2.32 2.77 Add RNAV (25% discount)
09/18/17 UOB Kay Hian Guocoland 2.29 2.8 Buy
09/25/17 Kim Eng Guocoland 2.29 2.75 Buy RNAV (23.5% discount)
10/09/17 Kim Eng Guocoland 2.31 2.9 Buy RNAV (20% discount)
10/20/17 CIMB Guocoland 2.41 2.82 Add RNAV (25% discount)
11/17/17 Kim Eng Guocoland 2.19 2.9 Buy
12/01/17 UOB Kay Hian Guocoland 2.08 2.8 Buy
12/07/17 Kim Eng Guocoland 2.09 2.95 Buy RNAV (20% discount)
01/16/18 Kim Eng Guocoland 2.26 2.95 Buy RNAV (38% discount), PB0.68x
02/02/18 CIMB Guocoland 2.25 2.88 Add RNAV (25% discount)
02/05/18 Kim Eng Guocoland 2.22 2.95 Buy RNAV (20% discount)
03/20/18 CIMB Guocoland 2.11 2.88 Add RNAV (25% discount)
03/20/18 Kim Eng Guocoland 2.11 3 Buy RNAV (20% discount)
04/02/18 Kim Eng Guocoland 2.08 3 Buy RNAV (20% discount)

GSS Energy - Stock calls


Date Analyst Company Last Target Call Valuation
05/04/17 NRA GSS Energy 0.154 0.23 Not Rated
03/06/18 DMG & Partners GSS Energy 0.16 0.25 Buy Sum of parts
05/18/18 DMG & Partners GSS Energy 0.151 0.25 Buy Sum of parts

Golden Energy - Stock calls


Date Analyst Company Last Target Call Valuation
01/12/17 Amfraserss Golden Energy 0.475 0.95 Buy DCF
02/21/17 Amfrasers Golden Energy 0.54 0.95 Buy DCF
03/02/17 Amfrasers Golden Energy 0.545 0.96 Buy DCF
05/17/17 Amfrasers Golden Energy 0.435 0.78 Buy DCF
05/18/17 DMG & Partners Golden Energy 0.415 0.71 Buy DCF, PER14.7x FY17, PER12.4x FY18
08/16/17 DMG & Partners Golden Energy 0.39 0.71 Buy DCF, PER12.4x FY18
08/17/17 Amfrasers Golden Energy 0.395 0.78 Buy DCF
08/28/17 phillip Golden Energy 0.445 0.59 Buy PER10x
11/21/17 phillip Golden Energy 0.42 0.59 Buy PER10x, PB1.36x
12/01/17 Amfrasers Golden Energy 0.4 0.78 Buy
12/01/17 phillip Golden Energy 0.4 0.59 Buy
01/26/18 DMG & Partners Golden Energy 0.475 0.68 Buy DCF & PER13.1x FY18
03/16/18 phillip Golden Energy 0.37 0.48 Buy PER10x
05/18/18 phillip Golden Energy 0.365 0.48 Buy PER10x FY18

Stock calls for 28 May 2018


Date Analyst Company Last Target Call Valuation
05/28/18 DMG & Partners IHH Healthcare 2.08 2.36 Buy DCF & Sum of parts & EV/Ebitda 18x FY19,  Ringgit $7 target price
05/28/18 Lim & Tan Valuetronics 0.825 0 Hold
05/28/18 CIMB Y Venture 0.48 0.62 Add

Saturday, May 26, 2018

Baltic dry index - 1077

Today, Friday, May 25 2018, the Baltic Dry Index decreased by 32 points, reaching 1077 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 - 1059

The US drilling rig count was up 13 units to 1,059 the week ended May 25, according to Baker Hughes data. The count is up 151 units from this time a year ago when the count stood at 908.
Offshore units were unchanged from last week with 19 rigs working. A total of 1,036 rigs were drilling on land, up 13 from last week. The number of rigs drilling in inland waters was unchanged at 4 units.
US oil-directed rigs were up 15 units this week to 859 and also up from the 722 rigs drilling for oil this week a year ago. Gas-directed rigs shed 2 units and now total 198. This time a year ago, 185 units were drilling for gas.
Among the major oil and gas-producing states, Texas bound past the rest with a gain of 9 units to hit 534 rigs running. Oklahoma, Colorado, and Alaska each had a 2-unit gain to reach 140, 31, and 9 units, respectively. North Dakota gained 1 rig to reach 56, as did West Virginia to reach 18.
Six states remained unchanged this week: Pennsylvania, 39; Wyoming, 26; Ohio, 23; California, 15; Utah, 8; and Arkansas, 1.
Three states dropped a single rig each: New Mexico, 91; Louisiana, 60; and Kansas, 0.
Canada lost 2 rigs to 81 working from a week ago. There are 12 fewer rigs working than this week a year ago. Oil-directed rigs decreased 3 units this week to 35, while those targeting gas gained 1 unit to 46.
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Related stocks: Keppel Corp, SembCorp Marine, Cosco

Golden Agri - Stock calls


Date Analyst Company Last Target Call Valuation
01/10/17 DMG & Partners Golden Agri 0.43 0.5 Buy PER19x FY17
01/11/17 DBS Vickers Golden Agri 0.425 0.39 Not Rated
02/13/17 DBS Vickers Golden Agri 0.425 0.39 Not Rated
02/27/17 CIMB Golden Agri 0.4 0.37 Reduce PER15x
02/27/17 Credit Suisse Golden Agri 0.4 0.38 Underperform
02/27/17 DMG & Partners Golden Agri 0.4 0.45 Buy PER19x FY17
02/27/17 OCBC Golden Agri 0.4 0.38 Hold
02/27/17 UOB Kay Hian Golden Agri 0.4 0.45 Hold PER15x FY17, Buy @ $0.38
03/13/17 DBS Vickers Golden Agri 0.375 0.42 Not Rated
04/06/17 Macquarie Golden Agri 0.375 0.4 Neutral
04/11/17 DMG & Partners Golden Agri 0.37 0.39 Neutral
04/13/17 Credit Suisse Golden Agri 0.365 0.33 Underperform
05/08/17 UOB Kay Hian Golden Agri 0.36 0.45 Hold
05/16/17 CIMB Golden Agri 0.375 0.37 Reduce PER15x FY17
05/16/17 Credit Suisse Golden Agri 0.375 0.33 Underperform
05/16/17 DMG & Partners Golden Agri 0.375 0.39 Neutral PER17x F17
05/16/17 OCBC Golden Agri 0.375 0.38 Hold
06/20/17 OCBC Golden Agri 0.37 0.38 Hold
06/29/17 UOB Kay Hian Golden Agri 0.375 0.34 Hold
08/15/17 Credit Suisse Golden Agri 0.375 0.33 Underperform
08/15/17 OCBC Golden Agri 0.375 0.36 Hold PER16x FY18
08/15/17 UOB Kay Hian Golden Agri 0.375 0.34 Hold PER13x FY18, Buy @ $0.30
08/15/17 CIMB Golden Agri 0.375 0.37 Reduce PER15x FY17
08/28/17 DIR Golden Agri 0.385 0.32 Underperform PER18x FY17/18
09/12/17 OCBC Golden Agri 0.375 0.36 Hold
09/12/17 UOB Kay Hian Golden Agri 0.375 0.34 Hold PER13x FY18
09/13/17 DBS Vickers Golden Agri 0.38 0.39 Not Rated
10/05/17 OCBC Golden Agri 0.38 0.35 Hold
11/15/17 UOB Kay Hian Golden Agri 0.39 0.34 Hold PER13x FY18, Buy @ $0.3
11/15/17 OCBC Golden Agri 0.39 0.37 Hold
11/15/17 Credit Suisse Golden Agri 0.39 0.35 Underperform
11/15/17 CIMB Golden Agri 0.39 0.36 Reduce PER15x FY19
12/20/17 CIMB Golden Agri 0.375 0.36 Reduce
01/16/18 OCBC Golden Agri 0.39 0.37 Hold
02/28/18 CIMB Golden Agri 0.36 0.31 Reduce PER15x FY19
02/28/18 OCBC Golden Agri 0.36 0.37 Hold
02/28/18 Credit Suisse Golden Agri 0.36 0.35 Underperform
03/07/18 UOB Kay Hian Golden Agri 0.345 0.31 Hold
03/08/18 OCBC Golden Agri 0.36 0.37 Hold
04/06/18 CIMB Golden Agri 0.345 0.31 Reduce PER15x
04/13/18 DBS Vickers Golden Agri 0.34 0.39 Not Rated
05/16/18 UOB Kay Hian Golden Agri 0.35 0.26 Sell PER14x FY18
05/16/18 CIMB Golden Agri 0.35 0.31 Reduce Sum of parts (10% discount)
05/16/18 OCBC Golden Agri 0.35 0.34 Hold

Global Premium Hotel - Stock calls


Date Analyst Company Last Target Call Valuation
02/14/17 OCBC Global Premium Hotel 0.31 0.34 Hold Buy @ $0.29 or lower

Global Invacom - Stock calls


Date Analyst Company Last Target Call Valuation
01/06/17 DMG & Partners Global Invacom 0.156 0.25 Buy
02/24/17 DMG & Partners Global Invacom 0.144 0.26 Buy PER12x FY17
05/11/17 DMG & Partners Global Invacom 0.166 0.26 Buy
01/06/17 Lim & Tan Global Logistics 2.400 0 Buy
01/09/17 DBS Vickers Global Logistics 2.460 2.47 Buy RNAV (30% discount)
01/13/17 Lim & Tan Global Logistics 2.610 0 Hold
01/31/17 Credit Suisse Global Logistics 2.620 2.55 Underperform
02/06/17 Lim & Tan Global Logistics 2.620 0 Hold
02/10/17 CIMB Global Logistics 2.780 2.79 Hold Sum of parts
02/10/17 Credit Suisse Global Logistics 2.780 2.75 Neutral
02/10/17 OCBC Global Logistics 2.780 2.87 Hold
02/10/17 UOB Kay Hian Global Logistics 2.780 2.5 Hold RNAV (20% discount)
02/13/17 DBS Vickers Global Logistics 2.760 3 Buy RNAV (15% discount)
02/13/17 phillip Global Logistics 2.760 2.6 Neutral RNAV (10% discount)
03/09/17 Lim & Tan Global Logistics 2.730 0 Hold
03/13/17 UOB Kay Hian Global Logistics 2.720 2.5 Hold
04/03/17 OCBC Global Logistics 2.780 2.87 Hold
04/27/17 phillip Global Logistics 2.880 2.6 Neutral
05/17/17 DBS Vickers Global Logistics 2.910 3 Hold RNAV (15% discount), PB1.2x
05/19/17 Lim & Tan Global Logistics 2.900 0 Hold
05/19/17 OCBC Global Logistics 2.900 2.87 Hold
05/22/17 CIMB Global Logistics 2.930 3.05 Hold RNAV
05/22/17 Credit Suisse Global Logistics 2.930 2.78 Neutral PB1.07x
05/22/17 UOB Kay Hian Global Logistics 2.930 2.75 Hold RNAV (19% discount), Buy @ $2.55
05/23/17 phillip Global Logistics 2.900 2.87 Neutral RNAV (10% discount)
06/09/17 Lim & Tan Global Logistics 2.940 0 Hold
06/22/17 Deutsche Global Logistics 2.990 2.6 Hold
07/17/17 phillip Global Logistics 3.290 3.38 Accept Offer Offer price $3.38
07/17/17 UOB Kay Hian Global Logistics 3.290 3.38 Accept Offer Offer price $3.38
07/17/17 Credit Suisse Global Logistics 3.290 3.38 Accept Offer Offer price $3.38 (PB1.3x)
07/17/17 Lim & Tan Global Logistics 3.290 3.38 Accept Offer Offer price $3.38
08/10/17 CIMB Global Logistics 3.250 3.38 Hold Offer price $3.38
09/18/17 UOB Kay Hian Global Logistics 3.280 2.75 Hold
10/02/17 OCBC Global Logistics 3.300 2.87 Accept Offer Offer price $3.38
12/20/17 CIMB Global Logistics 3.360 3.38 Hold

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