Stock calls for 6 August 2018

Date	Analyst	Company	Last	Target	Call	Valuation
08/06/18	DMG & Partners	China Aviation Oil	1.54	1.75	Buy	Sum of parts, PER11.4x FY18
08/06/18	DBS Vickers	Chip Eng Seng	0.795	0.75	Fully Valued
08/06/18	DBS Vickers	Cityneon	1.02	1.57	Buy	PER14.4x
08/06/18	phillip	DBS	26.15	33.32	Buy	GGM, PB1.7x
08/06/18	DMG & Partners	Delfi	1.18	1.47	Buy	DCF
08/06/18	UOB Kay Hian	Genting	1.23	1.38	Buy	EV/Ebitda10.5x FY18
08/06/18	OCBC	Genting	1.23	1.39	Buy	FCFE
08/06/18	CIMB	Genting	1.23	1.44	Add	EV/Ebitda15.5x FY19
08/06/18	CIMB	Lippo-Malls Indo	0.315	0.33	Hold	DDM
08/06/18	Macquarie	OCBC	11.35	14.5	Outperform
08/06/18	DBS Vickers	Perennial Reit	0.805	1.05	Buy	RNAV (50% discount)
08/06/18	DBS Vickers	Sembcorp Industries	2.63	3.9	Buy	RNAV (10% discount), PB1x
08/06/18	UOB Kay Hian	Sembcorp Industries	2.63	3.41	Buy
08/06/18	CIMB	Sembcorp Industries	2.63	3.49	Add	Sum of parts
08/06/18	DBS Vickers	Singapore Post	1.25	1.28	Hold	DCF
08/06/18	UOB Kay Hian	Singapore Post	1.25	1.45	Hold	Sum of parts, Buy @ $1.23
08/06/18	OCBC	Singapore Post	1.25	1.5	Buy
08/06/18	OCBC	UOB	26.59	32.09	Buy
08/06/18	CIMB	UOB	26.59	31	Add	GGM, PB1.4x FY18
08/06/18	DBS Vickers	UOB	26.59	31.7	Buy
08/06/18	Kim Eng	UOL	7	8.8	Buy	RNAV (35% discount)
08/06/18	OCBC	UOL	7	8.48	Buy
08/06/18	CIMB	UOL	7	8.45	Add	RNAV (30% discount)
08/06/18	UOB Kay Hian	Venture	16.85	18.2	Hold	PER14x FY18, Buy @ $16
08/06/18	DMG & Partners	Venture	16.85	22.2	Buy	PER15.5x FY18
08/06/18	OCBC	Venture	16.85	23.23	Buy	PER15x
08/06/18	CIMB	Venture	16.85	17.83	Hold	PER12.3x
08/06/18	Lim & Tan	Venture	16.85	0	Buy

The Strait of Malacca and Singapore PSA will have diminishing cargo volumes in the future.

China has begun its cargo shipments through the Arctic to Europe without passing through Singapore port and the Strait of Malacca.

The PSA cargo volume will decline soon in the future.

The US-China trade war has affected Germany.

https://sg.finance.yahoo.com/news/german-factory-orders-down-4-062550340.html

Germany is affected by the US-China trade war.  The rest of Europe will be affected as well because Germany is the strongest economy in EU.

This shows that being part of NATO doesn't immunize EU from the USA unilateral trade tariffs.

Crypto exchange is more risky than the stock exchange.

https://www.cnbc.com/2018/08/03/enormous-losing-bet-by-a-bitcoin-whale-leaves-its-counterparties-to-.html?__source=yahoo%7Cfinance%7Cheadline%7Cstory%7C&par=yahoo&yptr=yahoo

In a stock exchange, any stock trader won't impact other stock traders for the loss caused on the exchange.  However, this is not the same for Crypto exchange because Crypto exchange is not regulated with the same standards.

Why must a trader pay for the losses caused by other people on the same exchange?  I definitely do not agree with this policy.  What's your take on this?

Baltic dry index - 1773

Today, Friday, August 03 2018, the Baltic Dry Index climbed by 17 points, reaching 1773 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.

===================

Related stocks: Sembcorp Marine, Cosco, Pan Ocean.

US rig count - 1044

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. decreased by four this week to 1,044.

At this time a year ago there were 954 active rigs.

Houston oilfield services company Baker Hughes reported Friday that 859 rigs drilled for oil this week and 183 for gas. Two were listed as miscellaneous.

Among major oil- and gas-producing states, Wyoming gained two rigs and Louisiana and Pennsylvania each increased by one. West Virginia lost three rigs, Colorado and New Mexico each decreased by two and Alaska and North Dakota each lost one. Arkansas, California, Kansas, Ohio, Oklahoma, Texas and Utah were unchanged. The U.S. rig count peaked at 4,530 in 1981. It bottomed out in May 2016 at 404.

===============

Related stocks: Keppel Corp, Sembcorp Marine, Cosco.

China will not cower in the face of higher tariffs.

https://sg.finance.yahoo.com/news/china-threatens-retaliate-tariffs-60-122400705.html

This is something the USA won't understand.  China won't cower in the face of higher tariffs because of historical shame and nationalistic characteristic.

The higher tariffs will only hurt the USA in the end and the US Senate has shown its displeasure.

This is a trade war that the USA cannot win because the USA will blink first, not China.

SPH - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/16/17	CIMB	SPH	3.69	3.31	Reduce	Sum of parts
01/16/17	Lim & Tan	SPH	3.69	0	Avoid
01/16/17	OCBC	SPH	3.69	3.41	Sell
01/16/17	UOB Kay Hian	SPH	3.69	3.29	Sell	Sum of parts
01/17/17	DBS Vickers	SPH	3.56	3.32	Fully Valued	Sum of parts
03/20/17	CIMB	SPH	3.53	3.36	Hold	Sum of parts
03/20/17	DBS Vickers	SPH	3.53	3.39	Hold	Sum of parts
03/20/17	UOB Kay Hian	SPH	3.53	3.29	Sell
04/13/17	CIMB	SPH	3.52	3.36	Hold	Sum of parts
04/13/17	Lim & Tan	SPH	3.52	0	Hold
04/13/17	OCBC	SPH	3.52	3.41	Sell
04/13/17	UOB Kay Hian	SPH	3.52	3.29	Sell	Sum of parts
04/18/17	DBS Vickers	SPH	3.41	3.39	Hold	Sum of parts
04/26/17	CIMB	SPH	3.45	3.36	Hold	Sum of parts
04/26/17	OCBC	SPH	3.45	3.41	Hold
05/17/17	UOB Kay Hian	SPH	3.37	3.29	Sell
06/05/17	Lim & Tan	SPH	3.24	0	Hold
06/09/17	UOB Kay Hian	SPH	3.24	2.9	Sell	Sum of parts
06/14/17	DBS Vickers	SPH	3.17	3.39	Hold
06/14/17	UOB Kay Hian	SPH	3.17	3.39	Hold
06/15/17	CIMB	SPH	3.16	3.36	Hold	Sum of parts
06/15/17	Lim & Tan	SPH	3.16	0	Hold
06/22/17	OCBC	SPH	3.22	3.34	Hold
07/17/17	UOB Kay Hian	SPH	3.11	2.9	Hold	Sum of parts, Buy @ $2.75
07/17/17	OCBC	SPH	3.11	3.25	Hold
07/17/17	CIMB	SPH	3.11	3.22	Hold	Sum of parts
07/17/17	DBS Vickers	SPH	3.11	2.79	Fully Valued	Sum of parts
07/18/17	Lim & Tan	SPH	3.03	0	Hold
08/23/17	UOB Kay Hian	SPH	2.78	2.85	Hold	Sum of parts, Buy @ $2.60
09/11/17	CIMB	SPH	2.74	2.38	Reduce	Sum of parts (15% discount)
09/21/17	OCBC	SPH	2.63	3.25	Buy
10/12/17	CIMB	SPH	2.69	2.38	Reduce	Sum of parts (15% discount)
10/12/17	UOB Kay Hian	SPH	2.69	2.38	Sell	Sum of parts (10% discount)
10/12/17	Lim & Tan	SPH	2.69	0	Hold
10/13/17	OCBC	SPH	2.72	2.93	Hold
10/13/17	DBS Vickers	SPH	2.72	2.79	Hold	Sum of parts
11/09/17	UOB Kay Hian	SPH	2.68	2.38	Sell
12/05/17	UOB Kay Hian	SPH	2.79	2.42	Sell	Sum of parts
12/05/17	Lim & Tan	SPH	2.79	0	Hold
12/20/17	CIMB	SPH	2.61	2.38	Reduce
01/15/18	CIMB	SPH	2.63	2.49	Hold	Sum of parts, PER18.6x FY19
01/15/18	UOB Kay Hian	SPH	2.63	2.42	Sell	Sum of parts
01/15/18	Lim & Tan	SPH	2.63	0	Hold
01/16/18	DBS Vickers	SPH	2.71	2.78	Hold	Sum of parts
01/17/18	OCBC	SPH	2.71	2.51	Hold	Sum of parts (10% discount)
03/05/18	UOB Kay Hian	SPH	2.55	2.42	Sell
03/14/18	UOB Kay Hian	SPH	2.56	2.39	Sell	Sum of parts
04/11/18	UOB Kay Hian	SPH	2.49	2.41	Hold	Sum of parts, Buy @ $2.30
04/11/18	Lim & Tan	SPH	2.49	0	Hold
04/12/18	OCBC	SPH	2.49	2.52	Hold
04/12/18	DBS Vickers	SPH	2.49	2.6	Hold	Sum of parts
06/13/18	UOB Kay Hian	SPH	2.69	2.46	Hold	Buy @ $2.40
07/03/18	UOB Kay Hian	SPH	2.59	2.46	Hold
07/05/18	CIMB	SPH	2.59	2.85	Add	Sum of parts
07/06/18	DBS Vickers	SPH	2.67	2.6	Hold
07/12/18	DBS Vickers	SPH	2.75	2.58	Hold	Sum of parts
07/12/18	UOB Kay Hian	SPH	2.75	2.58	Hold	Sum of parts, Buy @ $2.40
07/12/18	Lim & Tan	SPH	2.75	0	Hold
07/13/18	OCBC	SPH	2.76	2.52	Hold
07/13/18	CIMB	SPH	2.76	2.88	Add	Sum of parts

Spackman - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	DMG & Partners	Spackman	0.19	0.32	Buy	PER18x FY17
04/06/17	DMG & Partners	Spackman	0.161	0.27	Buy	PER18x FY17
05/16/17	DMG & Partners	Spackman	0.149	0.27	Buy	DCF, PER18x FY17
08/16/17	DMG & Partners	Spackman	0.102	0.23	Buy	DCF, PER18x FY17
10/12/17	DMG & Partners	Spackman	0.121	0.2	Buy	DCF, PER16x FY17
11/16/17	DMG & Partners	Spackman	0.112	0.2	Buy	DCF, PER15x FY18
05/16/18	DMG & Partners	Spackman	0.073	0.1	Buy	DCF, PER14x FY18

Soilbuild Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/09/17	DBS Vickers	Soilbuild Reit	0.66	0.75	Buy	DCF
01/25/17	DBS Vickers	Soilbuild Reit	0.655	0.7	Buy	DCF
01/25/17	OCBC	Soilbuild Reit	0.655	0.64	Hold
01/26/17	phillip	Soilbuild Reit	0.65	0.68	Neutral	DDM
02/20/17	phillip	Soilbuild Reit	0.65	0.68	Neutral
02/20/17	Jefferies	Soilbuild Reit	0.65	0.7	Buy
04/13/17	OCBC	Soilbuild Reit	0.685	0.64	Hold
04/17/17	DBS Vickers	Soilbuild Reit	0.685	0.73	Buy	DCF
04/17/17	phillip	Soilbuild Reit	0.685	0.66	Neutral	DDM, PB0.93x FY17
05/08/17	phillip	Soilbuild Reit	0.68	0.66	Neutral
06/14/17	Amfrasers	Soilbuild Reit	0.71	0.68	Hold	Consensus target
07/17/17	OCBC	Soilbuild Reit	0.74	0.67	Hold	DDM
07/17/17	phillip	Soilbuild Reit	0.74	0.73	Neutral	DDM, PB1.05x FY17
07/18/17	DBS Vickers	Soilbuild Reit	0.74	0.73	Hold	DCF
07/21/17	Lim & Tan	Soilbuild Reit	0.705	0	Hold
09/20/17	OCBC	Soilbuild Reit	0.7	0.66	Hold
10/16/17	phillip	Soilbuild Reit	0.705	0.64	Reduce	DDM, PB0.9x FY17
10/17/17	DBS Vickers	Soilbuild Reit	0.705	0.62	Hold	DCF
11/09/17	OCBC	Soilbuild Reit	0.66	0.66	Hold
11/09/17	phillip	Soilbuild Reit	0.66	0.61	Reduce	DDM, PB0.86x FY17
01/18/18	OCBC	Soilbuild Reit	0.695	0.68	Hold
01/19/18	DBS Vickers	Soilbuild Reit	0.7	0.62	Hold	DCF
01/19/18	Lim & Tan	Soilbuild Reit	0.7	0	Hold
01/19/18	Jefferies	Soilbuild Reit	0.7	0.7	Buy
03/29/18	OCBC	Soilbuild Reit	0.645	0.7	Buy
04/17/18	OCBC	Soilbuild Reit	0.66	0.7	Buy
04/18/18	DBS Vickers	Soilbuild Reit	0.66	0.62	Hold
04/18/18	OCBC	Soilbuild Reit	0.66	0.71	Buy
04/18/18	Jefferies	Soilbuild Reit	0.66	0.7	Hold
05/24/18	OCBC	Soilbuild Reit	0.665	0.71	Buy
07/18/18	OCBC	Soilbuild Reit	0.65	0.69	Buy
07/18/18	DBS Vickers	Soilbuild Reit	0.65	0.62	Hold	DCF

Stock calls for 3 August 2018

Date	Analyst	Company	Last	Target	Call	Valuation
08/03/18	DMG & Partners	Breadtalk	1.14	1	Sell
08/03/18	phillip	China Aviation Oil	1.53	2	Buy	PER12.8x FY18
08/03/18	UOB Kay Hian	DBS	26.5	28.2	Hold	GGM, PB1.55x FY18, Buy @ $25.50
08/03/18	CIMB	DBS	26.5	28	Hold	GGM, PB1.4x
08/03/18	CIMB	Frasers Logistics	1.05	1.24	Add	DDM
08/03/18	Kim Eng	Hi-P	1.15	1.27	Hold	PB
08/03/18	DBS Vickers	Indofood Agri	0.225	0.21	Hold	DCF
08/03/18	CIMB	OUE Commercial	0.69	0.75	Hold	DDM
08/03/18	DBS Vickers	OUE Commercial	0.69	0.67	Hold	DCF
08/03/18	UOB Kay Hian	ST Engineering	3.36	4.1	Buy	EV/Invested capital basis, PER22x FY18
08/03/18	Macquarie	UOB	26.7	32	Outperform
08/03/18	Lim & Tan	UOB	26.7	0	Buy
08/03/18	DMG & Partners	UOB	26.7	33.3	Buy
08/03/18	Phillip	Y Venture	0.5	0.7	Buy

SLB Dev - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/01/18	SAC Advisors	SLB Dev	0.215	0.28	Buy

Singtel - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/03/17	DMG & Partners	Singtel	3.65	4	Neutral	Sum of parts, EV/Ebita13x
01/03/17	UOB Kay Hian	Singtel	3.65	4.53	Buy
01/05/17	Credit Suisse	Singtel	3.67	4.5	Outperform
01/12/17	Deutsche	Singtel	3.79	4.45	Buy
01/17/17	DIR	Singtel	3.81	3.8	Hold	Sum of parts
01/23/17	DBS Vickers	Singtel	3.81	4.46	Buy	Sum of parts
02/01/17	UOB Kay Hian	Singtel	3.87	4.53	Buy	DCF
02/09/17	Deutsche	Singtel	3.84	4.6	Buy
02/09/17	Lim & Tan	Singtel	3.84	0	Buy
02/09/17	OCBC	Singtel	3.84	4.27	Buy
02/10/17	CIMB	Singtel	3.88	4.1	Add	Sum of parts
02/10/17	Credit Suisse	Singtel	3.88	4.6	Outperform
02/10/17	DIR	Singtel	3.88	3.8	Hold	Sum of parts
02/10/17	DMG & Partners	Singtel	3.88	4	Neutral	Sum of parts, EV/Ebitda12.4x FY18
02/10/17	Kim Eng	Singtel	3.88	3.7	Hold	DCF
03/02/17	UOB Kay Hian	Singtel	3.95	4.53	Buy
03/13/17	Credit Suisse	Singtel	3.94	4.6	Outperform
03/17/17	OCBC	Singtel	3.95	4.25	Buy
03/20/17	DMG & Partners	Singtel	3.99	4	Buy
04/05/17	CIMB	Singtel	3.92	4.1	Add
04/05/17	Credit Suisse	Singtel	3.92	4.6	Outperform
04/05/17	DMG & Partners	Singtel	3.92	4	Neutral
04/05/17	Kim Eng	Singtel	3.92	3.72	Hold	DCF
04/05/17	OCBC	Singtel	3.92	4.25	Buy
04/13/17	Credit Suisse	Singtel	3.82	4.5	Outperform
04/13/17	Macquarie	Singtel	3.82	4.37	Outperform
05/19/17	CIMB	Singtel	3.76	4.1	Add	Sum of parts
05/19/17	Credit Suisse	Singtel	3.76	4.5	Outperform
05/19/17	DIR	Singtel	3.76	3.8	Hold	Sum of parts
05/19/17	DMG & Partners	Singtel	3.76	3.9	Neutral	Sum of parts
05/19/17	Kim Eng	Singtel	3.76	3.7	Hold	DCF
05/19/17	Macquarie	Singtel	3.76	4.32	Outperform
05/22/17	Lim & Tan	Singtel	3.73	0	Buy
06/05/17	Lim & Tan	Singtel	3.81	0	Buy
06/09/17	Credit Suisse	Singtel	3.76	4.5	Outperform
06/09/17	Deutsche	Singtel	3.76	4.6	Buy	Sum of parts
06/22/17	Macquarie	Singtel	3.77	4.3	Outperform
06/30/17	DMG & Partners	Singtel	3.88	3.9	Neutral
07/11/17	Lim & Tan	Singtel	3.9	0	Buy
07/14/17	Macquarie	Singtel	3.86	4.32	Outperform
07/28/17	Credit Suisse	Singtel	3.97	4.6	Outperform
08/02/17	DIR	Singtel	3.86	3.94	Hold	Sum of parts
08/11/17	CIMB	Singtel	3.76	4.1	Add	Sum of parts
08/11/17	Lim & Tan	Singtel	3.76	0	Buy
08/14/17	Credit Suisse	Singtel	3.75	4.6	Outperform
08/14/17	DMG & Partners	Singtel	3.75	3.9	Neutral	Sum of parts, EV/Ebita13.6x FY18
08/15/17	Macquarie	Singtel	3.77	4.32	Outperform
09/11/17	OCBC	Singtel	3.68	4.19	Buy
09/14/17	UOB Kay Hian	Singtel	3.67	4.53	Buy	DCF
09/14/17	Kim Eng	Singtel	3.67	3.83	Hold	Sum of parts
09/18/17	Credit Suisse	Singtel	3.67	4.6	Outperform
09/20/17	Deutsche	Singtel	3.68	4.4	Buy
09/25/17	CIMB	Singtel	3.68	4.1	Add
09/28/17	DIR	Singtel	3.71	3.94	Hold	Sum of parts
10/02/17	DBS Vickers	Singtel	3.68	4.3	Buy	Sum of parts
10/04/17	UOB Kay Hian	Singtel	3.68	4.53	Buy	DCF
10/26/17	Credit Suisse	Singtel	3.73	4.7	Outperform	Sum of parts
11/02/17	UOB Kay Hian	Singtel	3.75	4.53	Buy	DCF
11/09/17	Kim Eng	Singtel	3.78	3.87	Hold	Sum of parts
11/10/17	CIMB	Singtel	3.76	4.1	Add	Sum of parts
11/10/17	Credit Suisse	Singtel	3.76	4.7	Outperform
11/10/17	DMG & Partners	Singtel	3.76	4.1	Neutral	Sum of parts, PER16.6x FY18, EV/Ebitda15.1x FY18
11/10/17	OCBC	Singtel	3.76	4.19	Buy
11/10/17	DBS Vickers	Singtel	3.76	4.3	Buy	Sum of parts
11/16/17	Lim & Tan	Singtel	3.69	0	Buy
11/22/17	Macquarie	Singtel	3.69	4.32	Outperform
12/06/17	UOB Kay Hian	Singtel	3.75	4.53	Buy
12/20/17	CIMB	Singtel	3.61	4.1	Add
01/04/18	UOB Kay Hian	Singtel	3.59	4.53	Buy	DCF
01/10/18	DMG & Partners	Singtel	3.63	4.1	Neutral
01/26/18	DBS Vickers	Singtel	3.62	4.3	Buy	Sum of parts
02/07/18	OCBC	Singtel	3.42	4.19	Buy
02/08/18	DMG & Partners	Singtel	3.44	4.1	Buy	Sum of parts
02/08/18	DBS Vickers	Singtel	3.44	4.3	Buy
02/08/18	Lim & Tan	Singtel	3.44	0	Buy on weakness
02/09/18	OCBC	Singtel	3.4	4.15	Buy
02/09/18	UOB Kay Hian	Singtel	3.4	4.4	Buy	DCF
02/09/18	CIMB	Singtel	3.4	4	Add
03/02/18	UOB Kay Hian	Singtel	3.36	4.4	Buy
03/14/18	Kim Eng	Singtel	3.41	3.69	Hold	Sum of parts
03/15/18	CIMB	Singtel	3.4	4	Add	Sum of parts
03/15/18	DMG & Partners	Singtel	3.4	4.1	Buy	Sum of parts
04/03/18	UOB Kay Hian	Singtel	3.39	4.4	Buy
04/03/18	Kim Eng	Singtel	3.39	3.69	Hold
04/16/18	UOB Kay Hian	Singtel	3.37	4.35	Buy
05/03/18	UOB Kay Hian	Singtel	3.5	4.35	Buy	DCF
05/04/18	Kim Eng	Singtel	3.52	3.69	Hold
05/07/18	DBS Vickers	Singtel	3.5	3.85	Buy	Sum of parts
05/17/18	Lim & Tan	Singtel	3.42	0	Buy
05/18/18	UOB Kay Hian	Singtel	3.44	4.22	Buy	DCF
05/18/18	DMG & Partners	Singtel	3.44	3.9	Buy	Sum of parts
05/18/18	CIMB	Singtel	3.44	3.9	Add	Sum of parts
05/18/18	OCBC	Singtel	3.44	4.1	Buy
05/18/18	Kim Eng	Singtel	3.44	3.57	Hold	Sum of parts
06/04/18	UOB Kay Hian	Singtel	3.25	4.22	Buy	DCF
06/05/18	DBS Vickers	Singtel	3.27	3.85	Buy
06/18/18	CIMB	Singtel	3.19	3.9	Add
06/19/18	DBS Vickers	Singtel	3.19	3.7	Buy	Sum of parts
06/19/18	Kim Eng	Singtel	3.19	3.57	Hold
06/20/18	OCBC	Singtel	3.18	4.1	Buy	PER18.3x FY19
06/27/18	DMG & Partners	Singtel	3.12	4.05	Buy
07/03/18	UOB Kay Hian	Singtel	3.05	4.22	Buy

Singapore Post - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/11/17	Deutsche	Singapore Post	1.525	1.7	Buy	Sum of parts
02/10/17	CIMB	Singapore Post	1.475	1.76	Add	DCF
02/13/17	CIMB	Singapore Post	1.47	1.62	Add	DCF, PER21x
02/13/17	Kim Eng	Singapore Post	1.47	1.34	Hold
02/13/17	Lim & Tan	Singapore Post	1.47	0	Neutral
02/13/17	OCBC	Singapore Post	1.47	1.42	Hold
02/13/17	UOB Kay Hian	Singapore Post	1.47	1.46	Hold	Sum of parts, Buy @ $1.30
02/15/17	DBS Vickers	Singapore Post	1.375	1.31	Hold	DCF
03/07/17	OCBC	Singapore Post	1.38	1.39	Hold
03/16/17	UOB Kay Hian	Singapore Post	1.335	1.46	Hold	Sum of parts, Buy @ $1.30
03/24/17	Kim Eng	Singapore Post	1.325	1.34	Hold	DCF
04/20/17	OCBC	Singapore Post	1.365	1.39	Hold
05/09/17	UOB Kay Hian	Singapore Post	1.4	1.46	Hold	Sum of parts, Buy @ $1.30
05/15/17	CIMB	Singapore Post	1.39	1.42	Hold	DCF
05/15/17	OCBC	Singapore Post	1.39	1.2	Sell
05/15/17	UOB Kay Hian	Singapore Post	1.39	1.37	Hold	Sum of parts, Buy @ $1.25
05/16/17	DBS Vickers	Singapore Post	1.34	1.26	Hold	DCF
05/18/17	Lim & Tan	Singapore Post	1.31	0	Hold
06/15/17	OCBC	Singapore Post	1.28	1.2	Hold
07/18/17	UOB Kay Hian	Singapore Post	1.37	1.37	Hold	Buy @ $1.25
07/26/17	DBS Vickers	Singapore Post	1.335	1.26	Hold	DCF
08/07/17	OCBC	Singapore Post	1.32	1.22	Hold	DCF
08/07/17	UOB Kay Hian	Singapore Post	1.32	1.37	Hold	Sum of parts, Buy @ $1.25
08/07/17	CIMB	Singapore Post	1.32	1.35	Hold	DCF
08/07/17	Kim Eng	Singapore Post	1.32	1.22	Hold	DCF
08/07/17	DBS Vickers	Singapore Post	1.32	1.26	Hold	DCF
09/14/17	OCBC	Singapore Post	1.25	1.22	Hold
10/11/17	Kim Eng	Singapore Post	1.275	1.22	Hold	DCF
10/11/17	DBS Vickers	Singapore Post	1.275	1.26	Hold	DCF
11/15/17	Lim & Tan	Singapore Post	1.3	0	Hold
11/16/17	DBS Vickers	Singapore Post	1.28	1.23	Hold	DCF
11/16/17	Kim Eng	Singapore Post	1.28	1.5	Buy	DCF
11/16/17	UOB Kay Hian	Singapore Post	1.28	1.34	Hold	Sum of parts, Buy @ $1.20
11/16/17	CIMB	Singapore Post	1.28	1.28	Hold	DCF
11/16/17	OCBC	Singapore Post	1.28	1.26	Hold
11/20/17	Macquarie	Singapore Post	1.29	0	Underperform
12/04/17	DBS Vickers	Singapore Post	1.28	1.23	Hold
01/10/18	OCBC	Singapore Post	1.23	1.26	Hold
02/02/18	OCBC	Singapore Post	1.3	1.26	Hold
02/05/18	CIMB	Singapore Post	1.38	1.58	Add	DCF
02/05/18	UOB Kay Hian	Singapore Post	1.38	1.62	Buy	Sum of parts
02/05/18	Kim Eng	Singapore Post	1.38	1.5	Buy	DCF
02/05/18	DBS Vickers	Singapore Post	1.38	1.61	Buy	DCF
03/06/18	DBS Vickers	Singapore Post	1.33	1.61	Buy
03/16/18	UOB Kay Hian	Singapore Post	1.37	1.6	Buy	Sum of parts
04/02/18	Kim Eng	Singapore Post	1.37	1.5	Buy	DCF
04/24/18	UOB Kay Hian	Singapore Post	1.31	1.6	Buy	Sum of parts
05/14/18	UOB Kay Hian	Singapore Post	1.36	1.59	Buy	Sum of parts
05/14/18	Kim Eng	Singapore Post	1.36	1.5	Buy	DCF
05/14/18	CIMB	Singapore Post	1.36	1.59	Add	DCF
05/15/18	DBS Vickers	Singapore Post	1.37	1.55	Buy	DCF
06/04/18	UOB Kay Hian	Singapore Post	1.32	1.59	Buy
06/11/18	CIMB	Singapore Post	1.36	1.59	Add
07/02/18	Kim Eng	Singapore Post	1.26	1.5	Buy	DCF
07/06/18	DBS Vickers	Singapore Post	1.27	1.55	Buy	DCF
07/13/18	UOB Kay Hian	Singapore Post	1.3	1.59	Buy