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Monday, September 3, 2018

Stock calls for 3 September 2018


Date Analyst Company Last Target Call Valuation
09/03/18 Phillip 800Super 0.635 1.03 Buy DCF, PER13x FY19
09/03/18 DMG & Partners APAC Realty 0.57 0.77 Buy DCF
09/03/18 UOB Kay Hian CDL Hospitality 1.56 1.86 Buy
09/03/18 UOB Kay Hian CSE Global 0.445 0.58 Buy
09/03/18 CIMB Dyna-Mac 0.107 0.13 Add PB1.3x CY18
09/03/18 OCBC Frasers Logistics 1.1 1.18 Buy
09/03/18 DBS Vickers Frasers Logistics 1.1 1.2 Buy
09/03/18 Lim & Tan Frasers Logistics 1.1 0 Hold
09/03/18 UOB Kay Hian OCBC 11.3 13.68 Buy
09/03/18 DIR Singtel 3.23 3.47 Outperform Sum of parts
09/03/18 UOB Kay Hian Singtel 3.23 3.98 Buy
09/03/18 CIMB ST Engineering 3.34 3.8 Add
09/03/18 UOB Kay Hian Valuetronics 0.75 0.96 Buy
09/03/18 OCBC Viva Industrial 0.91 0.942 Accept Offer $0.096 cash & 1.6 ESR-Reit share (New value $0.53)
09/03/18 UOB Kay Hian Wheelock Properties 2.17 2.33 Buy

Mahathir scored a win against Singapore.

http://www.asiaone.com/malaysia/hsr-deferred-2-years-malaysia-spared-penalty-payment-singapore-report

Malaysia is spared from any liquidation damage and cancellation fee from the deferment.

What if the HSR is deferred again after 2 years?  Is SG going to get any compensation from Malaysia then?

Saturday, September 1, 2018

Baltic dry index - 1614

Today, Thursday, August 30 2018, the Baltic Dry Index decreased by 47 points, reaching 1614 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 - 1048

The US drilling rig count gained 4 rigs to 1,048 units working for the week ended Aug. 31, according to Baker Hughes data. The count is up 105 units from this time a year ago when the count stood at 943.
Offshore units remained unchanged from last week with 18 units working. A total of 1,028 rigs were drilling on land, up 3 from a week ago. The number of rigs drilling in inland waters was up 1 to 2 units working.
US oil-directed rigs were up 2 from last week at 862 units working, and up from the 759 rigs drilling for oil this week a year ago. Gas-directed rigs also up 2 at 184. This time a year ago, 183 units were drilling for gas.
There was very little movement among the major oil and gas-producing states week-over-week. No state gained or lost more than 1 unit for the week ended Aug. 31.
The three states with a 1 rig gain were Louisiana, 55; Pennsylvania, 41; and Kansas, 1.
Ten states were unchanged this week, namely Texas, 528; North Dakota, 52; Colorado, 30; Wyoming, 29; Ohio, 21; California, 15; West Virginia, 13; Utah, 6; Alaska, 5; and Arkansas, 0.
Down 1 rig, Oklahoma has 139 rigs running. New Mexico also dropped 1 rig, putting its number of rigs working at 102.
Canada saw a 2-week streak of gains reversed for the week ended Aug. 31 with a single-rig loss. The 228 rigs working still surpass the 201 units drilling this week a year ago. Canada dropped 2 oil-directed rigs to reach 151 for the week and gained 1 gas-directed rig to reach 77.
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Related stocks: Keppel Corp, Sembcorp Marine & Cosco.

The private blockchain will cannibalize the public blockchain in the future.

The public blockchain is not as secure as initially purported.  There is a proven method, 51% attack, to hack the public blockchain, commonly known as a decentralized blockchain.

https://www.coindesk.com/blockchains-feared-51-attack-now-becoming-regular/

The hacking of a decentralized blockchain is not technologically challenging but rather cost challenging.  To keep the cost down, hackers have turned to rent mining rigs to hack the public blockchains.

Therefore, as the crypto prices go up, the hacking occurrences will increase too.

The crypto proponents touted the worldwide adoption of cryptocurrencies based on public blockchains had not materialized insofar and looked unlikely to happen because of the demerits of crypto.

http://sg-stock.blogspot.com/2018/01/the-truth-about-bitcoin.html

http://sg-stock.blogspot.com/2018/03/cryptocurrency-is-very-environmental.html

Furthermore, governments and financial institutions are developing and using private blockchains instead of relying on public blockchains and this will render the public blockchains as useless.

http://www.mas.gov.sg/News-and-Publications/Media-Releases/2018/MAS-and-SGX-partner-Anquan-Deloitte-and-Nasdaq-to-harness-blockchain-technology.aspx

https://cointelegraph.com/news/world-banks-blockchain-based-bonds-a-step-toward-adoption

A private blockchain allows the developer to control and monitor the entire blockchain network and maintain the integrity of the system which is suitable for a government and/or financial institution whereas a developer has to cede control on a public blockchain.

In conclusion, we would like to give a prescient warning that the rise of the private blockchain will cannibalize the public blockchain and cryptocurrency.

Friday, August 31, 2018

AEM - Stock calls


Date Analyst Company Last Target Call Valuation
03/09/17 CIMB AEM 1.555 2.69 Add GGM, PB2.95x, PER8x FY18
04/26/17 CIMB AEM 2.22 3.39 Add PER10x FY18, Ex-CB
05/19/17 CIMB AEM 2.45 3.39 Add
05/23/17 DBS Vickers AEM 2.61 3.35 Not Rated PER10x FY18
07/05/17 CIMB AEM 2.2 3.39 Add PER10x FY18
08/04/17 CIMB AEM 2.8 3.39 Add
08/10/17 CIMB AEM 2.77 3.43 Add PER10x FY18
10/17/17 CIMB AEM 2.87 4.55 Add PER10x FY18
11/06/17 CIMB AEM 3.39 4.55 Add PER10x FY19
12/20/17 CIMB AEM 3.21 4.55 Add
01/10/18 CIMB AEM 3.31 4.55 Add
01/24/18 CIMB AEM 4.16 5.97 Add PER10x CY19
02/02/18 CIMB AEM 4.97 6.62 Add PER10x CY19
03/02/18 CIMB AEM 6.3 8.19 Add PER10x CY19
04/03/18 CIMB AEM 6.78 8.19 Add PER10x FY19
04/26/18 CIMB AEM 6.32 7.24 Add PER10x FY19
05/25/18 CIMB AEM 1.47 1.78 Add 3-for-1 bonus
08/01/18 CIMB AEM 0.995 0.69 Reduce PER10x FY19

Advancer Global - Stock calls


Date Analyst Company Last Target Call Valuation
08/04/17 SAC Advisors Advancer Global Ltd 0.285 0.36 Buy
03/02/18 SAC Advisors Advancer Global Ltd 0.285 0.36 Buy

Addvalue - Stock calls


Date Analyst Company Last Target Call Valuation
04/28/17 NRA Addvalue 0.051 0.079 Not Rated
06/08/17 NRA Addvalue 0.057 0.079 Not Rated
02/08/18 NRA Addvalue 0.042 0.079 Not Rated
04/25/18 NRA Addvalue 0.04 0.079 Not Rated
06/08/18 NRA Addvalue 0.041 0.052 Overweight Mid-point of target $0.0485-$0.0552

Stock calls for 31 August 2018


Date Analyst Company Last Target Call Valuation
08/31/18 phillip Ayonda 0.009 0.22 Buy Price to sales 6x FY18
08/31/18 Lim & Tan Capitamall Trust 2.15 0 Hold

Emerging markets maybe a trigger for the next financial crisis.

https://www.bloombergquint.com/opinion/2018/08/31/this-emerging-market-selloff-looks-contagious

Argentine, Venezuela and Turkey economic problems may become the harbingers for the next financial crisis.  However, the principal factor will rest on Turkey because it is the gateway between the Middle East and Europe.  Once this Turkey's spigot stops functioning, Europe will get affected and Italy will become very vulnerable because it is economically weak.

When Europe is affected, Asia cannot escape unscathed because Europe will pull funds out from Asia to save itself.

Thursday, August 30, 2018

Acromec - Stock calls


Date Analyst Company Last Target Call Valuation
01/03/17 DMG & Partners Acromec 0.565 0.5 Buy
05/02/17 DMG & Partners Acromec 0.39 0.38 Neutral

Accrelist - Stock calls


Date Analyst Company Last Target Call Valuation
05/31/18 NRA Accrelist 0.006 0.012 Overweight

Accordia Golf Trust - Stock calls


Date Analyst Company Last Target Call Valuation
02/17/17 Amfrasers Accordia Golf Trust 0.73 0.8 Buy DDM
04/06/17 CIMB Accordia Golf Trust 0.73 0.83 Not Rated Bloomberg consensus
04/12/17 DIR Accordia Golf Trust 0.73 0.85 Buy DDM
04/17/17 Amfrasers Accordia Golf Trust 0.735 0.8 Buy
05/29/17 DIR Accordia Golf Trust 0.745 0.82 Outperform
05/30/17 Amfrasers Accordia Golf Trust 0.745 0.8 Buy
08/17/17 Amfrasers Accordia Golf Trust 0.715 0.8 Buy
11/21/17 Amfrasers Accordia Golf Trust 0.7 0.78 Buy
04/24/18 Amfrasers Accordia Golf Trust 0.64 0.78 Buy DDM
05/31/18 Lim & Tan Accordia Golf Trust 0.595 0 Hold
06/01/18 Amfrasers Accordia Golf Trust 0.605 0.7 Buy DDM
08/21/18 Amfrasers Accordia Golf Trust 0.565 0.7 Buy

Stock calls for 30 August 2018


Date Analyst Company Last Target Call Valuation
08/30/18 DBS Vickers ART 1.08 1.25 Buy DCF
08/30/18 DBS Vickers Capitamall Trust 2.17 2.3 Buy
08/30/18 DBS Vickers CapitaRetail China 1.45 1.7 Buy
08/30/18 DMG & Partners Dairy Farm 9.2 9.6 Neutral
08/30/18 Amfrasers DISA 0.008 0.02 Buy DCF
08/30/18 phillip HMI 0.615 0.83 Buy DCF
08/30/18 CIMB Sembcorp Marine 1.69 2.52 Add PB2.2x CY18

Wednesday, August 29, 2018

Ascendas Reit - Stock calls


Date Analyst Company Last Target Call Valuation

01/03/17 UOB Kay Hian A-Reit 2.27 2.71 Buy DDM
01/05/17 Credit Suisse A-Reit 2.31 2.63 Outperform
01/06/17 DMG & Partners A-Reit 2.33 2.65 Buy DDM
01/06/17 OCBC A-Reit 2.33 2.72 Buy
01/09/17 DBS Vickers A-Reit 2.38 2.65 Buy DCF
01/25/17 Deutsche A-Reit 2.4 2.55 Hold
01/25/17 OCBC A-Reit 2.4 2.68 Buy
01/26/17 CIMB A-Reit 2.4 2.31 Hold DDM
01/26/17 DIR A-Reit 2.4 2.38 Hold DDM
02/09/17 Credit Suisse A-Reit 2.42 2.63 Outperform
02/17/17 JP Morgan A-Reit 2.47 2.65 Overweight
02/28/17 Deutsche A-Reit 2.48 2.55 Hold
03/02/17 UOB Kay Hian A-Reit 2.49 2.71 Buy
03/06/17 OCBC A-Reit 2.49 2.68 Buy
03/10/17 DMG & Partners A-Reit 2.45 2.65 Buy
03/13/17 Credit Suisse A-Reit 2.47 2.63 Outperform
03/17/17 DBS Vickers A-Reit 2.5 2.65 Buy
03/20/17 DIR A-Reit 2.5 2.44 Hold DDM
04/07/17 DMG & Partners A-Reit 2.53 2.65 Buy
04/11/17 UOB Kay Hian A-Reit 2.52 2.71 Buy
04/18/17 DIR A-Reit 2.52 2.44 Hold
04/18/17 Kim Eng A-Reit 2.52 2.85 Buy DDM
04/26/17 CIMB A-Reit 2.55 2.59 Hold DDM
04/26/17 DBS Vickers A-Reit 2.55 2.65 Buy DCF
04/26/17 DIR A-Reit 2.55 2.45 Hold DDM
04/26/17 DMG & Partners A-Reit 2.55 2.73 Buy DDM
04/26/17 OCBC A-Reit 2.55 2.66 Buy
04/26/17 UOB Kay Hian A-Reit 2.55 2.75 Buy
05/02/17 Kim Eng A-Reit 2.56 2.85 Buy
05/17/17 Deutsche A-Reit 2.6 2.6 Hold
05/17/17 UOB Kay Hian A-Reit 2.6 2.75 Buy
05/18/17 DBS Vickers A-Reit 2.58 2.65 Buy
05/25/17 UOB Kay Hian A-Reit 2.62 2.97 Buy
06/01/17 DMG & Partners A-Reit 2.62 2.73 Buy DDM
06/02/17 OCBC A-Reit 2.64 2.66 Buy
06/08/17 Lim & Tan A-Reit 2.67 0 Buy on weakness
06/12/17 Kim Eng A-Reit 2.7 2.9 Buy` DDM
06/21/17 Credit Suisse A-Reit 2.72 2.62 Neutral
06/22/17 Deutsche A-Reit 2.66 2.6 Hold
06/28/17 DIR A-Reit 2.66 2.45 Underperform DDM
07/03/17 Kim Eng A-Reit 2.61 2.9 Buy DDM
07/12/17 DMG & Partners A-Reit 2.58 2.73 Buy
07/14/17 Phillip A-Reit 2.59 2.86 Accumulate DDM, PB1.35x FY18
07/25/17 UOB Kay Hian A-Reit 2.7 2.97 Buy DDM
07/26/17 DBS Vickers A-Reit 2.72 2.78 Buy DCF
07/28/17 DIR A-Reit 2.72 2.45 Underperform DDM
07/28/17 Credit Suisse A-Reit 2.72 2.62 Neutral
07/28/17 DMG & Partners A-Reit 2.72 2.9 Buy DDM
07/28/17 OCBC A-Reit 2.72 2.66 Hold
07/28/17 CIMB A-Reit 2.72 2.71 Hold DDM
07/31/17 UOB Kay Hian A-Reit 2.71 2.75 Buy
07/31/17 DBS Vickers A-Reit 2.71 2.85 Buy DCF
08/03/17 Kim Eng A-Reit 2.68 2.9 Buy
08/14/17 OCBC A-Reit 2.66 2.66 Hold
08/17/17 UOB Kay Hian A-Reit 2.67 2.97 Buy
08/22/17 Phillip A-Reit 2.65 2.86 Accumulate
08/28/17 DBS Vickers A-Reit 2.61 2.85 Buy
09/04/17 CIMB A-Reit 2.66 2.71 Hold
09/21/17 DMG & Partners A-Reit 2.7 2.9 Buy DDM
09/26/17 OCBC A-Reit 2.68 2.66 Hold
09/26/17 Kim Eng A-Reit 2.68 2.9 Buy
10/09/17 Phillip A-Reit 2.69 2.86 Accumulate DDM, PB1.35x FY18
10/23/17 UOB Kay Hian A-Reit 2.72 2.97 Buy DDM
10/25/17 Kim Eng A-Reit 2.75 2.9 Buy
10/31/17 DMG & Partners A-Reit 2.71 2.9 Buy DDM
10/31/17 OCBC A-Reit 2.71 2.67 Hold
10/31/17 CIMB A-Reit 2.71 2.72 Hold DDM
11/01/17 DBS Vickers A-Reit 2.74 2.85 Buy
11/09/17 UOB Kay Hian A-Reit 2.66 2.97 Buy
11/28/17 Kim Eng A-Reit 2.63 3 Buy
11/28/17 Jefferies A-Reit 2.63 2.9 Buy
12/01/17 UOB Kay Hian A-Reit 2.64 3.05 Buy
12/18/17 DBS Vickers A-Reit 2.68 2.85 Buy
12/19/17 DMG & Partners A-Reit 2.69 2.9 Buy
12/20/17 CIMB A-Reit 2.69 2.72 Hold
01/04/18 Deutsche A-Reit 2.74 2.75 Hold
01/05/18 DMG & Partners A-Reit 2.79 2.9 Buy DDM
01/19/18 UOB Kay Hian A-Reit 2.77 3.05 Buy
01/19/18 Kim Eng A-Reit 2.77 3 Buy
01/26/18 Phillip A-Reit 2.75 2.89 Accumulate DDM, PB1.36x FY18
01/26/18 OCBC A-Reit 2.75 2.69 Hold
01/26/18 DBS Vickers A-Reit 2.75 2.85 Buy
01/26/18 CIMB A-Reit 2.75 2.88 Add
02/12/18 Phillip A-Reit 2.57 2.87 Accumulate
02/13/18 UOB Kay Hian A-Reit 2.58 3.05 Buy
02/20/18 DMG & Partners A-Reit 2.62 2.9 Buy
02/20/18 DBS Vickers A-Reit 2.62 2.85 Buy
03/05/18 UOB Kay Hian A-Reit 2.61 3.05 Buy
03/06/18 UOB Kay Hian A-Reit 2.58 2.76 Buy
03/19/18 DBS Vickers A-Reit 2.66 2.85 Buy
03/27/18 Phillip A-Reit 2.6 2.89 Accumulate
04/16/18 Kim Eng A-Reit 2.69 3.05 Buy DDM
04/16/18 DMG & Partners A-Reit 2.69 2.9 Buy
04/24/18 Phillip A-Reit 2.65 2.91 Accumulate DDM, PB1.37x FY18/19
04/24/18 UOB Kay Hian A-Reit 2.65 3.05 Buy DDM
04/24/18 DMG & Partners A-Reit 2.65 2.95 Buy DDM
04/24/18 CIMB A-Reit 2.65 2.85 add DDM
04/24/18 OCBC A-Reit 2.65 2.71 Hold
04/24/18 DBS Vickers A-Reit 2.65 3 Buy DCF
04/25/18 Jefferies A-Reit 2.68 2.95 Buy
05/02/18 UOB Kay Hian A-Reit 2.67 3.05 Buy
05/08/18 DBS Vickers A-Reit 2.65 3 Buy
05/17/18 DMG & Partners A-Reit 2.64 2.95 Buy
05/21/18 Phillip A-Reit 2.65 2.91 Accumulate
06/04/18 UOB Kay Hian A-Reit 2.64 3.05 Buy
06/26/18 DBS Vickers A-Reit 2.58 3 Buy
07/03/18 UOB Kay Hian A-Reit 2.61 3.05 Buy
07/06/18 DBS Vickers A-Reit 2.65 3 Buy
07/16/18 Phillip A-Reit 2.71 2.91 Accumulate
07/27/18 OCBC A-Reit 2.72 2.71 Hold
07/30/18 Phillip A-Reit 2.73 2.96 Accumulate DDM, PB1.39x FY19
07/30/18 CIMB A-Reit 2.73 2.89 Add DDM
07/31/18 UOB Kay Hian A-Reit 2.76 3.01 Buy DDM
08/17/18 UOB Kay Hian A-Reit 2.73 3.01 Buy
08/24/18 DBS Vickers A-Reit 2.73 3 Buy

8Telecom - Stock calls


Date Analyst Company Last Target Call Valuation
02/21/17 NRA 8Telecom 0.139 0 Not Rated Fair value $0.181-$0.298

800Super - Stock calls


Date Analyst Company Last Target Call Valuation
02/13/17 Phillip 800Super 1.09 1.42 Buy DCF, PER15.4x FY17
05/15/17 Phillip 800Super 1.375 1.57 Accumulate DCF, PER15.5x FY17
08/25/17 Phillip 800Super 1.18 1.53 Buy DCF, PER16.9x FY18
10/05/17 Phillip 800Super 1.205 1.53 Buy DCF, PER16.9x FY18
11/13/17 Phillip 800Super 1.175 1.43 Buy DCF, PER15.9x FY18
01/16/18 Phillip 800Super 1.25 1.4 Accumulate DCF, PER16.3x FY18
02/12/18 Phillip 800Super 1.14 1.35 Accumulate DCF, PER17.8x FY18
05/14/18 Phillip 800Super 1.12 1.3 Accumulate DCF, PER19.1x FY18

Stock calls for 29 August 2018


Date Analyst Company Last Target Call Valuation
08/29/18 Phillip Capitamall Trust 2.15 2.05 Neutral DDM
08/29/18 CIMB HMI 0.61 0.79 Add DCF
08/29/18 UOB Kay Hian HMI 0.61 0.84 Buy DCF
08/29/18 CIMB IHH Healthcare 1.85 2.2 Add Sum of parts, Ringgit $6.63 target
08/29/18 Phillip Micro-Mechanics 1.83 2.3 Buy PER17x
08/29/18 CIMB Wing Tai 2 1.97 Hold RNAV (45% discount)
08/29/18 OCBC Wing Tai 2 2.41 Buy RNAV (15% discount)
08/29/18 Lim & Tan Wing Tai 2 0 Buy

Singapore is affected again by China anti-dumping probe.

https://www.businesstimes.com.sg/government-economy/china-to-start-new-anti-dumping-probe-on-some-bisphenol-a-imports

Singapore is an international trading hub and will get affected by China anti-dumping probe because China is our largest trading partner.

Therefore, it is better to build a cordial relationship with China so that we can get exemptions from China if the need arises.

http://sg-stock.blogspot.com/2017/08/omg-singapore-is-part-of-chinas-anti.html

http://sg-stock.blogspot.com/2018/04/singapore-gets-hit-again-with-another.html

Tuesday, August 28, 2018

Yuuzoo - Stock calls


Date Analyst Company Last Target Call Valuation
07/06/17 Lim & Tan Yuuzoo 0.077 0 Sell/Avoid Fraud alert
08/16/17 Lim & Tan Yuuzoo 0.055 0 Sell
12/22/17 Lim & Tan Yuuzoo 0.048 0 Sell
03/20/18 Lim & Tan Yuuzoo 0.038 0 Sell/Avoid