Mapletree Industrial - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/09/17	DBS Vickers	Mapletree Industrial	1.665	1.9	Buy
01/25/17	Deutsche	Mapletree Industrial	1.645	1.65	Hold
01/25/17	OCBC	Mapletree Industrial	1.645	1.79	Buy
01/25/17	UOB Kay Hian	Mapletree Industrial	1.645	1.6	Hold	DDM
01/26/17	CIMB	Mapletree Industrial	1.65	1.68	Add	DDM
01/26/17	Phillip	Mapletree Industrial	1.65	1.74	Accumulate	DDM
01/31/17	Credit Suisse	Mapletree Industrial	1.665	1.82	Outperform
02/14/17	CIMB	Mapletree Industrial	1.665	1.68	Add
02/17/17	JP Morgan	Mapletree Industrial	1.675	1.75	Overweight
02/20/17	Phillip	Mapletree Industrial	1.66	1.74	Accumulate
02/28/17	Deutsche	Mapletree Industrial	1.66	1.65	Hold
03/06/17	CIMB	Mapletree Industrial	1.67	1.68	Add	DDM
03/06/17	DBS Vickers	Mapletree Industrial	1.67	1.9	Buy
03/07/17	DIR	Mapletree Industrial	1.685	1.7	Hold	DDM
03/07/17	UOB Kay Hian	Mapletree Industrial	1.685	1.6	Hold
03/29/17	OCBC	Mapletree Industrial	1.76	1.88	Buy
03/30/17	DBS Vickers	Mapletree Industrial	176	1.94	Buy
04/11/17	UOB Kay Hian	Mapletree Industrial	1.77	1.6	Hold
04/18/17	DIR	Mapletree Industrial	1.785	1.7	Hold
04/18/17	Kim Eng	Mapletree Industrial	1.785	2	Buy	DDM
04/25/17	DBS Vickers	Mapletree Industrial	1.795	1.94	Buy	DCF
04/25/17	DIR	Mapletree Industrial	1.795	1.71	Hold	DDM
04/25/17	OCBC	Mapletree Industrial	1.795	1.93	Buy
04/26/17	CIMB	Mapletree Industrial	1.82	1.8	Hold	DDM
04/26/17	Kim Eng	Mapletree Industrial	1.82	2.05	Buy	DDM
04/26/17	Phillip	Mapletree Industrial	1.82	1.8	Neutral	DDM
04/26/17	UOB Kay Hian	Mapletree Industrial	1.82	1.69	Hold	DDM
05/08/17	Deutsche	Mapletree Industrial	1.81	1.7	Hold
05/08/17	Phillip	Mapletree Industrial	1.81	1.8	Neutral
05/25/17	UOB Kay Hian	Mapletree Industrial	1.815	1.78	Hold
06/09/17	Lim & Tan	Mapletree Industrial	1.84	0	Hold
06/12/17	DBS Vickers	Mapletree Industrial	1.825	1.94	Buy
06/20/17	OCBC	Mapletree Industrial	1.8	1.93	Buy
06/22/17	Deutsche	Mapletree Industrial	1.815	1.7	Hold
06/22/17	Kim Eng	Mapletree Industrial	1.815	2.05	Buy
07/03/17	Kim Eng	Mapletree Industrial	1.86	2.05	Buy	DDM
07/26/17	DIR	Mapletree Industrial	1.88	1.71	Hold	DDM
07/26/17	UOB Kay Hian	Mapletree Industrial	1.88	1.78	Hold	DDM
07/26/17	OCBC	Mapletree Industrial	1.88	1.92	Hold
07/26/17	DBS Vickers	Mapletree Industrial	1.88	1.94	Buy	DCF
07/26/17	Religare	Mapletree Industrial	1.88	1.9	Buy
07/26/17	Phillip	Mapletree Industrial	1.88	1.98	Accumulate	DDM, PB1.41x FY18
07/27/17	CIMB	Mapletree Industrial	1.905	1.91	Hold	DDM
08/03/17	Kim Eng	Mapletree Industrial	1.84	2.05	Buy
08/22/17	Phillip	Mapletree Industrial	1.855	1.98	Accumulate
09/27/17	DBS Vickers	Mapletree Industrial	1.84	1.94	Buy	DCF
09/28/17	Kim Eng	Mapletree Industrial	1.85	2.05	Buy
10/09/17	Phillip	Mapletree Industrial	1.875	1.98	Accumulate
10/23/17	UOB Kay Hian	Mapletree Industrial	1.9	1.78	Hold
10/25/17	OCBC	Mapletree Industrial	1.96	1.92	Hold
10/25/17	Kim Eng	Mapletree Industrial	1.96	2.05	Buy
10/25/17	UOB Kay Hian	Mapletree Industrial	1.97	1.88	Hold
10/26/17	CIMB	Mapletree Industrial	1.97	1.94	Hold	DDM
10/27/17	Phillip	Mapletree Industrial	1.97	1.99	Neutral	DDM, PB1.37x FY18
11/08/17	DBS Vickers	Mapletree Industrial	1.965	2.15	Buy	DCF
11/28/17	Kim Eng	Mapletree Industrial	1.99	2.1	Buy
12/01/17	UOB Kay Hian	Mapletree Industrial	1.97	1.88	Hold
12/04/17	Phillip	Mapletree Industrial	1.99	2.06	Hold
12/04/17	OCBC	Mapletree Industrial	1.99	2.06	Hold
01/19/18	Kim Eng	Mapletree Industrial	2.11	2.1	Buy
01/24/18	OCBC	Mapletree Industrial	2.07	2.06	Hold
01/24/18	UOB Kay Hian	Mapletree Industrial	2.07	1.88	Hold	DDM
01/24/18	DBS Vickers	Mapletree Industrial	2.07	2.15	Buy
01/25/18	Phillip	Mapletree Industrial	2.12	2.15	Neutral	DDM, PB1.48x FY18
01/25/18	CIMB	Mapletree Industrial	2.12	2.16	Add	DDM
02/12/18	Phillip	Mapletree Industrial	1.93	2.15	Neutral
04/16/18	Kim Eng	Mapletree Industrial	2.03	2.2	Buy
04/24/18	UOB Kay Hian	Mapletree Industrial	2.02	2	Hold	DDM
04/25/18	CIMB	Mapletree Industrial	2	2.12	Add	DDM
04/25/18	Phillip	Mapletree Industrial	2	2.09	Neutral	PB1.48x FY19
04/25/18	OCBC	Mapletree Industrial	2	2.06	Hold
04/25/18	Kim Eng	Mapletree Industrial	2	2.25	Buy	DDM
04/30/18	DBS Vickers	Mapletree Industrial	2.02	2.22	Buy
05/02/18	CIMB	Mapletree Industrial	2.03	2.12	Add
05/21/18	Phillip	Mapletree Industrial	1.95	2.09	Neutral

Mapletree North Asia - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/09/17	DBS Vickers	Mapletree North Asia	0.955	1.11	Buy	DCF
01/31/17	CIMB	Mapletree North Asia	0.955	1.13	Add	DDM
01/31/17	OCBC	Mapletree North Asia	0.955	1.08	Buy
03/06/17	OCBC	Mapletree North Asia	0.985	1.08	Buy
03/30/17	DBS Vickers	Mapletree North Asia	1.015	1.11	Buy	DCF
04/03/17	CIMB	Mapletree North Asia	1.02	1.13	Add
04/27/17	OCBC	Mapletree North Asia	1.06	1.08	Buy
04/28/17	CIMB	Mapletree North Asia	1.045	1.14	Add
04/28/17	DBS Vickers	Mapletree North Asia	1.045	1.25	Buy	DCF
04/28/17	OCBC	Mapletree North Asia	1.045	1.13	Buy
06/23/17	CIMB	Mapletree North Asia	1.075	1.14	Add
07/31/17	OCBC	Mapletree North Asia	1.11	1.22	Buy
08/01/17	CIMB	Mapletree North Asia	1.11	1.17	Add	DDM
08/01/17	DBS Vickers	Mapletree North Asia	1.11	1.25	Buy
10/24/17	CIMB	Mapletree North Asia	1.215	1.2	Hold	DDM
10/24/17	OCBC	Mapletree North Asia	1.215	1.28	Buy
10/24/17	DBS Vickers	Mapletree North Asia	1.215	1.3	Buy	DCF
11/30/17	OCBC	Mapletree North Asia	1.16	1.28	Buy
12/14/17	OCBC	Mapletree North Asia	1.19	1.28	Buy
12/18/17	DBS Vickers	Mapletree North Asia	1.19	1.3	Buy
01/29/18	OCBC	Mapletree North Asia	1.27	1.39	Buy
01/29/18	CIMB	Mapletree North Asia	1.27	1.26	Hold	DDM
01/29/18	DBS Vickers	Mapletree North Asia	1.27	1.4	Buy
03/28/18	Lim & Tan	Mapletree North Asia	1.18	0	Buy on weakness
03/29/18	CIMB	Mapletree North Asia	1.15	1.3	Add	DDM
04/26/18	OCBC	Mapletree North Asia	1.13	1.39	Buy
04/27/18	OCBC	Mapletree North Asia	1.15	1.42	Buy	DDM
04/27/18	CIMB	Mapletree North Asia	1.15	1.3	Add	DDM
05/23/18	OCBC	Mapletree North Asia	1.16	1.42	Buy
06/26/18	DBS Vickers	Mapletree North Asia	1.13	1.45	Buy	DCF

Stock calls for 27 June 2018

Date	Analyst	Company	Last	Target	Call	Valuation
06/27/18	DMG & Partners	Avi-Tech	0.39	0.43	Neutral
06/27/18	DMG & Partners	Centurion	0.455	0.47	Neutral
06/27/18	DMG & Partners	Fu Yu	0.171	0.2	Neutral
06/27/18	OCBC	Golden Agri	0.315	0.34	Hold
06/27/18	DMG & Partners	GSS Energy	0.139	0.25	Buy	Sum of parts
06/27/18	DMG & Partners	HRnetGroup	0.865	1.18	Buy	DCF
06/27/18	DMG & Partners	ISOTeam	0.335	0.42	Buy
06/27/18	DMG & Partners	Jadason	0.04	0.05	Neutral
06/27/18	UOB Kay Hian	Jumbo	0.52	0.53	Hold	DCF, Buy @ $0.48
06/27/18	DBS Vickers	M1	1.59	1.46	Hold	EV/Ebitda6x
06/27/18	DMG & Partners	Singapore Medical	0.46	0.68	Buy
06/27/18	DMG & Partners	Singtel	3.12	4.05	Buy
06/27/18	DMG & Partners	Starhub	1.73	1.9	Neutral	DCF
06/27/18	DBS Vickers	Starhub	1.73	1.42	Hold	EV/Ebitda5.6x
06/27/18	DMG & Partners	Valuetronics	0.665	0.92	Buy
06/27/18	OCBC	Wilmar	3.06	3.51	Buy

Trump is losing the US-China trade war!

https://finance.yahoo.com/news/trumps-rage-towards-harley-davidson-happens-pick-winners-losers-152524509.html

We stated previously that to win in a trade war, the country would need to have a high saving rate and strong political will.  The USA doesn't have both but China does.

Harley Davidson cannot tolerate the tariff and has to move its production overseas.  This is just a harbinger or the tip of the iceberg.  When Walmart products get expensive, the US citizens will not be able to tolerate the price spikes and vote Trump out.

http://sg-stock.blogspot.com/2018/04/who-will-win-in-trade-war-us-or-china.html

http://sg-stock.blogspot.com/2018/06/the-stock-market-will-start-in-red-next.html

Mahathir has backed down from the water pact review.

https://sg.news.yahoo.com/now-dr-m-says-reviewing-110953014.html

He has discovered that it is not easy to review the water pact as it is registered with the UN.  The UN has to get involved as it is part of the agreement to be separated from Malaysia.

Mapletree Commercial - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/09/17	DBS Vickers	Mapletree Commercial	1.45	1.62	Buy	DCF
01/12/17	HSBC	Mapletree Commercial	1.47	1.75	Buy
01/24/17	Deutsche	Mapletree Commercial	1.47	1.6	Buy
01/26/17	CIMB	Mapletree Commercial	1.48	1.45	Hold	DDM
01/26/17	Credit Suisse	Mapletree Commercial	1.48	1.73	Outperform
01/26/17	Lim & Tan	Mapletree Commercial	1.48	0	Hold
02/09/17	Credit Suisse	Mapletree Commercial	1.52	1.73	Outperform
02/28/17	Deutsche	Mapletree Commercial	1.495	1.6	Buy
03/17/17	DBS Vickers	Mapletree Commercial	1.49	1.62	Buy	DCF
04/26/17	DBS Vickers	Mapletree Commercial	1.57	1.62	Buy
04/27/17	CIMB	Mapletree Commercial	1.585	1.7	Add	DDM
06/22/17	Deutsche	Mapletree Commercial	1.555	1.6	Buy
06/23/17	CIMB	Mapletree Commercial	1.56	1.7	Add
07/28/17	DBS Vickers	Mapletree Commercial	1.63	1.62	Hold
07/28/17	Credit Suisse	Mapletree Commercial	1.63	1.73	Outperform
07/28/17	CIMB	Mapletree Commercial	1.63	1.79	Add	DDM
09/13/17	Credit Suisse	Mapletree Commercial	1.55	1.73	Outperform
10/27/17	DBS Vickers	Mapletree Commercial	1.58	1.62	Hold
10/27/17	CIMB	Mapletree Commercial	1.58	1.75	Add	DDM
12/11/17	DBS Vickers	Mapletree Commercial	1.58	1.75	Buy
01/02/18	Kim Eng	Mapletree Commercial	1.62	1.45	Sell	DDM
01/04/18	Deutsche	Mapletree Commercial	1.67	1.7	Buy
01/25/18	Lim & Tan	Mapletree Commercial	1.67	0	Hold
01/26/18	CIMB	Mapletree Commercial	1.68	1.75	Add	DDM
04/25/18	Kim Eng	Mapletree Commercial	1.6	1.5	Hold	DDM
04/25/18	CIMB	Mapletree Commercial	1.6	1.75	Add	DDM
04/25/18	DBS Vickers	Mapletree Commercial	1.6	1.8	Buy	DCF, PB1.2x

Manulife US Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	DMG & Partners	Manulife US Reit	0.83	0.96	Buy	DDM
01/05/17	Lim & Tan	Manulife US Reit	0.835	0	Buy
01/09/17	DBS Vickers	Manulife US Reit	0.84	0.93	Buy	DCF
02/14/17	DBS Vickers	Manulife US Reit	0.86	0.95	Buy	DCF
02/14/17	DMG & Partners	Manulife US Reit	0.86	0.96	Buy	DDM
02/28/17	Deutsche	Manulife US Reit	0.84	0.95	Buy
03/10/17	DMG & Partners	Manulife US Reit	0.84	0.96	Buy
04/07/17	DMG & Partners	Manulife US Reit	0.835	0.96	Buy
05/03/17	DBS Vickers	Manulife US Reit	0.84	1.01	Buy	DCF
05/04/17	DMG & Partners	Manulife US Reit	0.85	0.96	Buy
05/08/17	Lim & Tan	Manulife US Reit	0.865	0	Buy
06/21/17	DMG & Partners	Manulife US Reit	0.885	0.99	Buy	DDM
06/21/17	Lim & Tan	Manulife US Reit	0.885	0	Buy on weakness
06/22/17	Deutsche	Manulife US Reit	0.89	0.95	Buy
07/12/17	DMG & Partners	Manulife US Reit	0.915	0.99	Buy
08/10/17	DMG & Partners	Manulife US Reit	0.925	1	Buy	DDM
08/10/17	DBS Vickers	Manulife US Reit	0.925	1.07	Buy	DCF
08/10/17	Lim & Tan	Manulife US Reit	0.925	1	Buy
08/10/17	Deutsche	Manulife US Reit	0.925	1	Buy
09/04/17	Lim & Tan	Manulife US Reit	0.965	0	Buy
09/05/17	DMG & Partners	Manulife US Reit	0.94	0.98	Buy	DDM, Ex-Rights 41-for-100 @ $0.695
11/06/17	DMG & Partners	Manulife US Reit	0.905	0.98	Buy	DDM
11/29/17	DBS Vickers	Manulife US Reit	0.865	0.99	Buy	DCF
12/19/17	DMG & Partners	Manulife US Reit	0.93	0.98	Buy
01/03/18	Lim & Tan	Manulife US Reit	0.93	1	Buy
01/04/18	Deutsche	Manulife US Reit	0.94	1	Buy
01/05/18	DMG & Partners	Manulife US Reit	0.935	0.98	Buy
02/06/18	UOB Kay Hian	Manulife US Reit	0.92	1.12	Buy	DDM
02/06/18	Lim & Tan	Manulife US Reit	0.92	1	Hold
02/06/18	DMG & Partners	Manulife US Reit	0.92	0.98	Buy	DDM
02/07/18	DBS Vickers	Manulife US Reit	0.91	1	Buy	DCF
02/21/18	Amfrasers	Manulife US Reit	0.91	1.008	Buy	DDM
04/13/18	Lim & Tan	Manulife US Reit	0.925	1	Hold
04/16/18	DMG & Partners	Manulife US Reit	0.82	1	Buy	DDM
04/16/18	DBS Vickers	Manulife US Reit	0.82	1	Buy
04/17/18	Amfrasers	Manulife US Reit	0.925	1.01	Buy
05/02/18	DMG & Partners	Manulife US Reit	0.95	1	Buy	DDM
05/02/18	UOB Kay Hian	Manulife US Reit	0.95	1.12	Buy
05/08/18	Amfrasers	Manulife US Reit	0.945	1.02	Buy
06/26/18	DBS Vickers	Manulife US Reit	0.86	0.97	Buy	DCF

Mandarin Oriental - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/03/17	Nomura	Mandarin Oriental	1.275	1.06	Reduce
06/06/17	Nomura	Mandarin Oriental	1.71	1.73	Neutral

Stock calls for 26 June 2018

Date	Analyst	Company	Last	Target	Call	Valuation
06/26/18	DBS Vickers	A-Reit	2.58	3	Buy
06/26/18	DBS Vickers	Ascendas Hospitality Trust	0.775	0.98	Buy	DCF
06/26/18	DBS Vickers	Ascendas India Trust	1.02	1.25	Buy	DDM
06/26/18	CIMB	Cache Logistics	0.76	0.8	Hold
06/26/18	DBS Vickers	CapitaCommercial	1.64	2.12	Buy	DCF
06/26/18	Lim & Tan	CapitaCommercial	1.64	0	Buy
06/26/18	OCBC	Capitaland	3.18	4.26	Buy
06/26/18	DBS Vickers	CDL Hospitality	1.61	2	Buy
06/26/18	OCBC	City Developments	11	15.78	Buy
06/26/18	UOB Kay Hian	DBS	26.66	30.15	Buy	GGM, PB1.65x FY18
06/26/18	DBS Vickers	Frasers Centrepoint Trust	2.17	2.45	Buy
06/26/18	DBS Vickers	Frasers Logistics	1.03	1.2	Buy	DCF
06/26/18	DBS Vickers	Keppel DC Reit	1.35	1.52	Buy	DCF
06/26/18	DBS Vickers	Manulife US Reit	0.86	0.97	Buy	DCF
06/26/18	DBS Vickers	Mapletree North Asia	1.13	1.45	Buy	DCF
06/26/18	DBS Vickers	Mapletree Logistics	1.22	1.48	Buy
06/26/18	SAC	Megachem	0.32	0.5	Buy	PER14.9x FY19
06/26/18	CIMB	Memtech	1.13	1.47	Add
06/26/18	UOB Kay Hian	OCBC	11.6	14.28	Buy	GGM, PER1.46x FY18
06/26/18	OCBC	UOL	7.45	10.63	Buy

M1 - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	UOB Kay Hian	M1	1.96	1.76	Sell
01/12/17	CIMB	M1	2.06	1.9	Hold	DCF, Buy below $1.56
01/12/17	Deutsche	M1	2.06	2.6	Buy
01/13/17	Credit Suisse	M1	2.08	1.65	Underperform
01/13/17	DBS Vickers	M1	2.08	2.09	Hold	DCF
01/13/17	DMG & Partners	M1	2.08	2.05	Neutral	DCF
01/17/17	DIR	M1	2.08	2.02	Hold	DDM
01/18/17	UOB Kay Hian	M1	2.09	2.5	Buy	DCF
01/25/17	Credit Suisse	M1	2.17	1.55	Underperform
01/25/17	DBS Vickers	M1	2.17	1.97	Hold	DCF
01/25/17	Kim Eng	M1	2.17	1.85	Sell	DCF
01/25/17	Lim & Tan	M1	2.17	0	Sell
01/25/17	OCBC	M1	2.17	2.03	Hold
01/25/17	UOB Kay Hian	M1	2.17	2.48	Buy	DCF
01/26/17	CIMB	M1	2.05	1.8	Reduce	DCF
02/24/17	UOB Kay Hian	M1	2.03	2.52	Buy	DCF
02/24/17	Deutsche	M1	2.03	2.5	Buy
03/13/17	DIR	M1	2.11	1.93	Hold	DDM
03/17/17	OCBC	M1	2.03	1.75	Sell
03/20/17	Credit Suisse	M1	2.19	1.5	Underperform
03/20/17	DBS Vickers	M1	2.19	1.97	Hold
03/20/17	DMG & Partners	M1	2.19	2.05	Neutral	DCF
03/21/17	OCBC	M1	2.17	1.96	Hold	EV/EBitda8.5x FY17/18
04/05/17	CIMB	M1	2.16	1.8	Reduce
04/05/17	Credit Suisse	M1	2.16	1.5	Underperform
04/05/17	DMG & Partners	M1	2.16	2.05	Neutral
04/05/17	Kim Eng	M1	2.16	1.75	Sell	DCF
04/05/17	OCBC	M1	2.16	1.96	Hold
04/06/17	DBS Vickers	M1	2.12	1.97	Hold	DCF
04/18/17	CIMB	M1	2.14	1.7	Reduce	DCF
04/18/17	Credit Suisse	M1	2.14	1.45	Underperform
04/18/17	DIR	M1	2.14	1.93	Hold	DDM
04/18/17	Lim & Tan	M1	2.14	0	Hold
04/18/17	Deutsche	M1	2.14	2.3	Buy
05/02/17	DBS Vickers	M1	2.17	2.54	Buy	EV/Ebitda8.4x FY17
06/02/17	DMG & Partners	M1	2.27	2.05	Neutral	DCF
07/07/17	OCBC	M1	2.11	1.96	Hold
07/14/17	DMG & Partners	M1	2.07	2.05	Neutral
07/19/17	OCBC	M1	2.1	1.75	Sell
07/19/17	DIR	M1	2.1	1.93	Hold	DDM
07/19/17	Credit Suisse	M1	2.1	1.45	Underperform
07/19/17	DMG & Partners	M1	2.1	1.9	Neutral	DCF
07/19/17	CIMB	M1	2.1	1.7	Reduce	DCF
07/19/17	DBS Vickers	M1	2.1	1.78	Fully Valued	DCF
08/18/17	UOB Kay Hian	M1	1.77	1.98	Buy	DCF
08/23/17	DMG & Partners	M1	1.785	1.9	Neutral
09/11/17	OCBC	M1	1.78	1.65	Hold
09/14/17	Kim Eng	M1	1.79	1.59	Sell	DCF
09/18/17	Credit Suisse	M1	1.795	1.45	Underperform
09/20/17	Deutsche	M1	1.79	2.3	Buy
09/25/17	UOB Kay Hian	M1	1.78	1.98	Buy
09/25/17	CIMB	M1	1.78	1.8	Hold
09/28/17	DIR	M1	1.785	1.74	Hold	DDM
10/16/17	DBS Vickers	M1	1.815	1.49	Fully Valued	DCF
10/17/17	UOB Kay Hian	M1	1.805	1.95	Buy	DCF
10/17/17	OCBC	M1	1.805	1.65	Hold
10/17/17	DMG & Partners	M1	1.805	1.9	Neutral
10/17/17	Kim Eng	M1	1.805	1.59	Sell
10/17/17	CIMB	M1	1.805	1.8	Hold
11/23/17	OCBC	M1	1.77	1.65	Hold
11/28/17	Kim Eng	M1	1.77	1.59	Sell
01/10/18	DMG & Partners	M1	1.79	1.9	Neutral
01/12/18	UOB Kay Hian	M1	1.79	1.95	Hold
01/24/18	UOB Kay Hian	M1	1.87	1.84	Hold	DCF, Buy @ $1.7
01/24/18	DMG & Partners	M1	1.87	1.95	Neutral	DCF
01/24/18	OCBC	M1	1.87	1.7	Hold
01/24/18	DBS Vickers	M1	1.87	1.49	Fully Valued	DCF
01/25/18	CIMB	M1	1.87	1.85	Hold	DCF
02/21/18	OCBC	M1	1.8	1.7	Hold
03/12/18	UOB Kay Hian	M1	1.79	1.84	Hold
03/14/18	Kim Eng	M1	1.78	1.63	Sell	DCF
03/15/18	CIMB	M1	1.78	1.85	Hold
03/15/18	DMG & Partners	M1	1.78	1.95	Neutral
03/20/18	UOB Kay Hian	M1	1.79	1.6	Sell	DCF
03/27/18	Deutsche	M1	1.77	2.3	Buy
04/03/18	Kim Eng	M1	1.75	1.63	Hold	DCF
04/11/18	DBS Vickers	M1	1.72	1.76	Hold	DCF
04/17/18	UOB Kay Hian	M1	1.79	1.6	Sell	DCF
04/17/18	DMG & Partners	M1	1.79	1.95	Neutral	DCF
04/17/18	OCBC	M1	1.79	1.7	Hold
04/17/18	CIMB	M1	1.79	1.85	Hold
05/23/18	UOB Kay Hian	M1	1.76	1.6	Sell
06/04/18	UOB Kay Hian	M1	1.71	1.6	Sell	DCF

Lippo-Malls Indo - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/17/17	CIMB	Lippo-Malls Indo	0.385	0.39	Hold	DDM
02/17/17	OCBC	Lippo-Malls Indo	0.385	0.43	Buy	DDM
04/04/17	OCBC	Lippo-Malls Indo	0.395	0.43	Buy
06/01/17	OCBC	Lippo-Malls Indo	0.415	0.435	Buy
06/22/17	CIMB	Lippo-Malls Indo	0.43	0.41	Hold	DDM
06/28/17	OCBC	Lippo-Malls Indo	0.44	0.475	Buy	DDM
08/07/17	OCBC	Lippo-Malls Indo	0.455	0.45	Hold	DDM
08/08/17	CIMB	Lippo-Malls Indo	0.455	0.43	Hold	DDM
08/30/17	OCBC	Lippo-Malls Indo	0.43	0.455	Buy
11/06/17	OCBC	Lippo-Malls Indo	0.44	0.46	Buy	DDM
12/13/17	OCBC	Lippo-Malls Indo	0.415	0.46	Buy
02/15/18	OCBC	Lippo-Malls Indo	0.4	0.405	Hold
04/13/18	CIMB	Lippo-Malls Indo	0.365	0.33	Reduce	DDM
04/13/18	OCBC	Lippo-Malls Indo	0.365	0.31	Sell
05/07/18	CIMB	Lippo-Malls Indo	0.32	0.33	Reduce	DDM

Stock calls for 25 June 2018

Date	Analyst	Company	Last	Target	Call	Valuation
06/25/18	Amfrasers	DISA	0.008	0.02	Buy	DCF, PER23.9x FY21
06/25/18	UOB Kay Hian	Ezion	0.09	0.12	Hold
06/25/18	CIMB	Jumbo	0.5	0.62	Add	PER23x CY19
06/25/18	UOB Kay Hian	Sembcorp Industries	2.76	3.6	Hold
06/25/18	Lim & Tan	Sembcorp Industries	2.76	0	Accumulate
06/25/18	UOB Kay Hian	Sembcorp Marine	1.96	2.05	Hold
06/25/18	UOB Kay Hian	Yangzijiang	0.96	1.3	Buy

Here we go again! Mahathir is skinning Singapore further.

Mahathir has been very anti-Singapore after becoming PM again.  He is trying to review our water pact now.

https://www.theedgesingapore.com/mahathir-revives-singapore-water-dispute-takes-swipe-trump?utm_source=Singapore+Market+Report&utm_campaign=c37bfa0f29-EMAIL_CAMPAIGN_2018_06_24_09_20&utm_medium=email&utm_term=0_46b7beec93-c37bfa0f29-90900869

Let's do a checklist on his anti-Singapore antes.

Dr M has decided to build a maritime base on the middle rocks which is only 44km away from SG.  This will affect SG's security.

Dr M has decided to terminate the KL-SG HSR.  This will affect SG's connection to the BRI.

Dr M has decided to review the CPTTP.  This will affect SG's free trade.

Dr M has decided to use the land acquisition to delay the JB-SG MRT.  This will affect the traffic flow between JB & SG.

Dr M has decided to review the water pact now.  This will affect SG's survival.

See!  Everything he does will harm SG.

Mahathir may delay the JB-SG MRT after the KL-SG HSR termination.

https://www.aseanbreakingnews.com/2018/06/jb-spore-rail-link-johor-needs-to-acquire-more-land/

Oh great! Malaysia has come up with a reason to delay the JB-SG MRT.  Land acquisition usually takes time and Malaysia is using this excuse to delay the JB-SG MRT construction.

Look like Mahathir has upped his ante against SG.

http://sg-stock.blogspot.com/2018/06/mahathir-is-trying-to-skin-singapore.html