APAC Realty - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
09/25/17	Lim & Tan	APAC Realty	0.66	0	Subscribe	IPO
11/09/17	DBS Vickers	APAC Realty	0.89	1.03	Buy	DCF & PER15x FY18
11/13/17	DBS Vickers	APAC Realty	0.905	1.12	Buy	DCF & PER15x FY18
11/30/17	DMG & Partners	APAC Realty	0.885	1.2	Buy	DCF & PER15x FY18
12/06/17	DBS Vickers	APAC Realty	0.865	1.12	Buy	PER15x FY18
01/12/18	DMG & Partners	APAC Realty	0.94	1.2	Buy
02/19/18	DBS Vickers	APAC Realty	1.02	1.12	Buy
02/20/18	DMG & Partners	APAC Realty	1.06	1.2	Buy
02/26/18	DMG & Partners	APAC Realty	1.1	1.35	Buy	DCF
02/26/18	DBS Vickers	APAC Realty	1.1	1.25	Buy	DCF & PER15x FY18
03/20/18	DBS Vickers	APAC Realty	1.19	1.42	Buy	DCF & PER15x FY18
04/10/18	DMG & Partners	APAC Realty	1.17	1.35	Buy
05/10/18	DBS Vickers	APAC Realty	1.03	1.32	Buy	DCF & PER15x FY18
05/30/18	DMG & Partners	APAC Realty	0.905	1.35	Buy	DCF
06/06/18	DBS Vickers	APAC Realty	0.925	1.32	Buy
06/18/18	DBS Vickers	APAC Realty	0.815	1.22	Buy	DCF
07/03/18	DMG & Partners	APAC Realty	0.785	1.35	Buy
07/09/18	DBS Vickers	APAC Realty	0.58	0.66	Fully Valued	PER10x FY18
07/13/18	DMG & Partners	APAC Realty	0.605	0.77	Buy	DCF
08/08/18	DMG & Partners	APAC Realty	0.63	0.77	Buy	DCF
08/08/18	DBS Vickers	APAC Realty	0.63	0.62	Hold	PER10x FY19
09/03/18	DMG & Partners	APAC Realty	0.57	0.77	Buy	DCF

Stock calls for 4 September 2018

Date	Analyst	Company	Last	Target	Call	Valuation
09/04/18	Lim & Tan	Capitaland	3.42	0	Buy
09/04/18	OCBC	Comfortdelgro	2.3	2.5	Hold
09/04/18	DBS Vickers	Comfortdelgro	2.3	2.59	Buy
09/04/18	OCBC	Frasers Centrepoint Trust	2.27	2.49	Buy
09/04/18	OCBC	Keppel DC Reit	1.36	1.54	buy
09/04/18	OCBC	Mapletree North Asia	1.15	1.42	Buy
09/04/18	DMG & Partners	SGX	7.42	8.4	Buy	PER23.4x FY19
09/04/18	UOB Kay Hian	SPH	2.81	2.58	Hold	DCF, Buy @ $2.45
09/04/18	Goldman Sachs	Thai Beverage	0.645	0.74	Buy	Cut from $0.94
09/04/18	JP Morgan	Thai Beverage	0.645	0.64	Underweight

South China sea shoal is a treacherous region.

https://sg.news.yahoo.com/philippines-extricates-warship-south-china-sea-shoal-232756352.html

Philippines navy got grounded in the South China sea shoal which showed that its navy didn't have an in-depth knowledge of the shoal region.

We had stated previously that the South China sea shoal was a treacherous region and no commercial shippers would want to sail there.

http://sg-stock.blogspot.com/2017/01/lets-stop-harping-on-south-china-sea.html

Thus, it is pointless to promote freedom of navigation in such a treacherous region and doing so would cause harm to the commercial shippers.

Mark my words! Singapore price hikes are coming in the future! - Part 2

https://www.channelnewsasia.com/news/singapore/public-transport-operators-may-increase-fares-by-up-to-4-3-10680038

Hahaha! Why am I not surprised?

We have already predicted that price hikes are coming in Singapore.

http://sg-stock.blogspot.com/2018/08/mark-my-words-singapore-price-hikes-are.html

Aoxin Q&M - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
06/01/18	Phillip	Aoxin Q&M	0.22	0.29	Not Rated	PER35x FY19

Amara - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/12/17	DMG & Partners	Amara	0.54	0.88	Buy	PB0.65x
05/17/17	DMG & Partners	Amara	0.56	0.88	Buy	PB0.65x
10/09/17	DMG & Partners	Amara	0.53	0.88	Buy
11/15/17	DMG & Partners	Amara	0.54	0.88	Buy	PB0.65x
02/26/18	DMG & Partners	Amara	0.55	0.88	Buy	PB0.65x
05/16/18	DMG & Partners	Amara	0.515	0.88	Buy	PB0.65x
08/21/18	DMG & Partners	Amara	0.475	0.88	Buy	RNAV (35% discount)

AIMS AMP Cap Ind Reit - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
05/26/17	Kim Eng	AIMS AMP Cap Ind Reit	1.415	1.6	Buy	DDM
06/22/17	Kim Eng	AIMS AMP Cap Ind Reit	1.44	1.6	Buy
07/03/17	Kim Eng	AIMS AMP Cap Ind Reit	1.48	1.6	Buy
10/27/17	Kim Eng	AIMS AMP Cap Ind Reit	1.435	1.6	Buy
02/01/18	Lim & Tan	AIMS AMP Cap Ind Reit	1.37	0	Hold
02/02/18	Kim Eng	AIMS AMP Cap Ind Reit	1.37	1.5	Buy
03/19/18	DBS Vickers	AIMS AMP Cap Ind Reit	1.38	1.57	Not Rated
04/16/18	Kim Eng	AIMS AMP Cap Ind Reit	1.38	1.5	Buy	DDM
06/19/18	DBS Vickers	AIMS AMP Cap Ind Reit	1.38	1.55	Buy	DCF
07/06/18	DBS Vickers	AIMS AMP Cap Ind Reit	1.38	1.55	Buy

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?

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.

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

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.

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.

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