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Friday, November 9, 2018

Netlink - Stock calls


Date Analyst Company Last Target Call Valuation
07/20/17 DIR Netlink 0.81 0.97 Buy DCF
08/01/17 Deutsche Netlink 0.815 0.95 Buy DCF
08/29/17 DBS Vickers Netlink 0.81 0.95 Buy DCF
08/29/17 UOB Kay Hian Netlink 0.81 0.93 Buy DCF
09/25/17 UOB Kay Hian Netlink 0.825 0.93 Buy
09/28/17 DIR Netlink 0.825 0.97 Buy DCF
11/10/17 DBS Vickers Netlink 0.825 0.95 Buy DCF
11/13/17 UOB Kay Hian Netlink 0.825 0.93 Buy DCF
01/12/18 UOB Kay Hian Netlink 835 0.93 Buy
01/26/18 DBS Vickers Netlink 0.83 0.95 Buy DCF
02/07/18 UOB Kay Hian Netlink 0.82 0.93 Buy DCF
02/07/18 DBS Vickers Netlink 0.82 0.97 Buy DCF
03/12/18 UOB Kay Hian Netlink 0.82 0.93 Buy
03/14/18 OCBC Netlink 0.82 0.91 Buy DDM
05/15/18 OCBC Netlink 0.815 0.91 Buy
05/16/18 OCBC Netlink 0.82 0.9 Buy
05/16/18 DBS Vickers Netlink 0.82 0.97 Buy DCF
07/02/18 DBS Vickers Netlink 0.74 0.87 Buy DCF
08/07/18 OCBC Netlink 0.78 0.9 Buy
08/07/18 DBS Vickers Netlink 0.78 0.87 Buy
09/10/18 Kim Eng Netlink 0.785 0.93 Buy DDM
09/17/18 UOB Kay Hian Netlink 0.785 0.95 Buy DCF
10/02/18 DBS Vickers Netlink 0.785 0.87 Buy
10/11/18 OCBC Netlink 0.785 0.9 Buy
10/26/18 Kim Eng Netlink 0.78 0.93 Buy
11/05/18 DBS Vickers Netlink 0.775 0.87 Buy
11/07/18 Kim Eng Netlink 0.78 0.93 Buy DDM
11/07/18 OCBC Netlink 0.78 0.9 Buy

Nera Telecom - Stock calls


Date Analyst Company Last Target Call Valuation
02/22/17 Lim & Tan Nera Telecom 0.435 0 Sell
05/05/17 Lim & Tan Nera Telecom 0.39 0 Hold
08/07/17 Lim & Tan Nera Telecom 0.39 0 Hold

Stock calls for 9 November 2018


Date Analyst Company Last Target Call Valuation
11/09/18 phillip China Sunsine 1.08 1.68 Buy FCFE
11/09/18 UOB Kay Hian City Developments 8.42 12.12 Buy RNAV (15% discount)
11/09/18 CIMB City Developments 8.42 10.65 Add RNAV (35% discount)
11/09/18 Lim & Tan City Developments 8.42 0 Buy
11/09/18 DMG & Partners City Developments 8.42 9.2 Neutral
11/09/18 UOB Kay Hian Comfortdelgro 2.2 2.59 Buy PER16.9x FY19
11/09/18 DMG & Partners CSE Global 0.455 0.59 Buy DCF
11/09/18 Kim Eng Genting 0.89 1.29 Buy EV/Ebitda10x FY18
11/09/18 DMG & Partners Genting 0.89 1.42 Buy
11/09/18 CIMB Genting 0.89 1.28 Add EV/Ebitda10x FY19
11/09/18 OCBC Genting 0.89 1.39 Buy FCFE
11/09/18 DBS Vickers Hi-P 0.85 0.8 Hold PER10x FY19
11/09/18 UOB Kay Hian Ho Bee 2.5 2.79 Buy RNAV (30% discount)
11/09/18 DMG & Partners Japan Foods 0.455 0.48 Neutral
11/09/18 CIMB Memtech 0.745 1.1 Add PER8x FY19
11/09/18 Lim & Tan Memtech 0.745 0 Buy
11/09/18 OCBC OUE Commercial 0.475 0.48 Hold
11/09/18 OCBC OUE Hospitality 0.69 0.79 Buy
11/09/18 DBS Vickers Perennial Reit 0.685 0.83 Buy RNAV (55% discount)
11/09/18 phillip SATS 5.11 5.47 Accumulate DCF, PER24.3x FY19
11/09/18 OCBC SATS 5.11 5.39 Hold
11/09/18 CIMB SATS 5.11 5.06 Hold PER20x CY19
11/09/18 Kim Eng SIA 9.65 9.8 Hold PB0.82x FY20
11/09/18 DBS Vickers Singtel 3.08 3.59 Buy Sum of parts
11/09/18 UOB Kay Hian Singtel 3.08 3.9 Buy DCF
11/09/18 Kim Eng Singtel 3.08 3.39 Hold DCF
11/09/18 OCBC Singtel 3.08 3.95 Buy
11/09/18 CIMB Singtel 3.08 3.4 Add Sum of parts
11/09/18 DMG & Partners Singtel 3.08 3.22 Neutral
11/09/18 DMG & Partners Talkmed 0.62 0.64 Neutral
11/09/18 Lim & Tan UOB Kay Hian 1.23 0 Buy
11/09/18 UOB Kay Hian Yangzijiang 1.32 1.36 Hold PB0.9x FY19

Solar panel energy is an overhyped technology.

https://www.straitstimes.com/business/singapores-largest-offshore-floating-solar-panel-system-to-be-built-along-straits-of-johor

The proponents are completely avoiding the disclosure of the chemical toxins in the production and disposal of the solar panels because of their singularity mindset of reducing carbon emission.  However, it is wrong to replace carbon emission with other environmental pollution.

https://sciencing.com/toxic-chemicals-solar-panels-18393.html

The solar panels have to be replaced every 15-20 years and they can only get an average of about 2-4hr of good solar energy everyday.  The safe disposal of the solar panels is a big problem when we use solar energy because those panels will pollute our land since the chemical materials are very toxic.

If we burn the disposed solar panels, we're creating air pollution.  If we bury them, we're creating land pollution and underground water pollution.

Thursday, November 8, 2018

China's exports soared in October in spite of the trade war.

https://www.caixinglobal.com/2018-11-08/who-to-watch-among-the-younger-generation-of-central-bank-officials-101344415.html

This good China economic growth will definitely piss Trump.

Hahaha!

Neo Group - Stock calls


Date Analyst Company Last Target Call Valuation
01/03/17 DMG & Partners Neo Group 0.62 0.8 Buy
02/10/17 DMG & Partners Neo Group 0.575 0.61 Neutral DCF
03/29/17 DMG & Partners Neo Group 0.585 0.61 Neutral DCF
05/26/17 DMG & Partners Neo Group 0.57 0.62 Neutral
08/10/17 DMG & Partners Neo Group 0.68 0.64 Neutral PER21x FY18
11/14/17 DMG & Partners Neo Group 0.66 0.64 Neutral PER21x FY18
02/09/18 DMG & Partners Neo Group 0.67 0.67 Neutral

Nam Lee - Stock calls


Date Analyst Company Last Target Call Valuation
02/06/17 Phillip Nam Lee 0.37 0.52 Buy DCF
05/17/17 Phillip Nam Lee 0.355 0.52 Buy DCF, PER12.4x FY17
08/16/17 Phillip Nam Lee 0.37 0.51 Buy DCF, PER11.5x FY17
11/29/17 Phillip Nam Lee 0.395 0.56 Buy DCF, PER11.1x FY18, PB0.96x FY18
02/12/18 Phillip Nam Lee 0.38 0.56 Buy DCF, PER11.1x FY18, PB0.96x FY18
05/07/18 Phillip Nam Lee 0.37 0.56 Buy DCF, PER11.9x FY18, PB0.97x FY18
08/08/18 Phillip Nam Lee 0.365 0.51 Buy DCF, PER10.5x FY18, PB0.88x FY18

Nam Cheong - Stock calls


Date Analyst Company Last Target Call Valuation
03/01/17 DBS Vickers Nam Cheong 0.055 0.04 Fully Valued PB0.2x
07/20/17 Lim & Tan Nam Cheong 0.021 0 Avoid

Stock calls for 8 November 2018


Date Analyst Company Last Target Call Valuation
11/08/18 UOB Kay Hian A-Reit 2.54 3.01 Buy
11/08/18 UOB Kay Hian CapitaCommercial 1.69 2 Buy
11/08/18 UOB Kay Hian Capitaland 3.14 3.78 Buy
11/08/18 CIMB China Sunsine 1.04 1.41 Add PER7.7x FY19
11/08/18 DBS Vickers Chip Eng Seng 0.725 0.75 Hold Sum of parts
11/08/18 Deutsche Comfortdelgro 2.36 1.7 Sell PER12x FY19
11/08/18 CIMB CSE Global 0.455 0.5 Add PER13.5x FY19
11/08/18 Lim & Tan CSE Global 0.455 0 Buy
11/08/18 Macquarie DBS 23.77 27 Neutral
11/08/18 phillip DBS 23.77 29.02 Buy GGM, PB1.5x FY19
11/08/18 CIMB Frasers Logistics 1.05 1.19 Add DDM
11/08/18 OCBC Frasers Logistics 1.05 1.19 Buy
11/08/18 UOB Kay Hian Genting 0.915 1.38 Buy
11/08/18 UOB Kay Hian Golden Agri 0.26 0.16 Sell
11/08/18 UOB Kay Hian Japfa 0.715 0.98 Buy
11/08/18 CIMB OUE Hospitality 0.685 0.82 Add DDM
11/08/18 DMG & Partners OUE Hospitality 0.685 0.8 Buy
11/08/18 DBS Vickers OUE Hospitality 0.685 0.85 Buy
11/08/18 UOB Kay Hian SATS 4.99 6.1 Buy
11/08/18 phillip Sembcorp Industries 2.67 3.6 Buy Sum of parts
11/08/18 Lim & Tan Sembcorp Industries 2.67 0 Hold
11/08/18 DMG & Partners Singapore Medical 0.41 0.56 Buy DCF
11/08/18 OCBC Yangzijiang 1.29 1.41 Buy
11/08/18 CIMB Yangzijiang 1.29 1.37 Add Sum of parts

Look like Trump and Xi won't reach a truce in the upcoming G20 summit.

https://sg.finance.yahoo.com/news/u-impose-duties-chinese-aluminum-sheet-products-052248114--finance.html

Trump is still trying to antagonize China prior to the G20 summit and this won't bode well for the trade talk between these 2 nations.

There is a high chance that there is no trade deal between US & China in November and the trade war will continue.

Wednesday, November 7, 2018

Moya - Stock calls


Date Analyst Company Last Target Call Valuation
09/04/17 DMG & Partners Moya Asia 0.118 0.17 Buy DCF, PER13.8x FY18
11/14/17 DMG & Partners Moya Asia 0.101 0.17 Buy DCF
01/24/18 DMG & Partners Moya Asia 0.098 0.17 Buy
02/09/18 DMG & Partners Moya Asia 0.091 0.17 Buy DCF
03/02/18 DMG & Partners Moya Asia 0.091 0.15 Buy DCF, PER15x FY18
04/09/18 DMG & Partners Moya Asia 0.099 0.15 Buy DCF
05/02/18 DMG & Partners Moya Asia 0.1 0.15 Buy DCF
06/05/18 DMG & Partners Moya Asia 0.087 0.14 Buy DCF
08/07/18 DMG & Partners Moya Asia 0.092 0.13 Buy DCF
09/26/18 DMG & Partners Moya Asia 0.083 0.13 Buy
11/05/18 DMG & Partners Moya Asia 0.07 0.11 Buy DCF

MM2 Asia - Stock calls


Date Analyst Company Last Target Call Valuation
01/11/17 DBS Vickers MM2 Asia 0.49 0.56 Buy
04/07/17 CIMB MM2 Asia 0.5 0.6 Add Sum of parts, PER22.6x FY18
04/13/17 DBS Vickers MM2 Asia 0.5 0.63 Buy Sum of parts
05/23/17 DBS Vickers MM2 Asia 0.575 0.63 Buy Sum of parts
05/24/17 DBS Vickers MM2 Asia 0.585 0.7 Buy Sum of parts
05/25/17 CIMB MM2 Asia 0.585 0.65 Add Sum of parts
06/14/17 CIMB MM2 Asia 0.62 0.72 Add Sum of parts
06/14/17 DBS Vickers MM2 Asia 0.62 0.7 Buy
07/20/17 DBS Vickers MM2 Asia 0.59 0.75 Buy Sum of parts
07/25/17 CIMB MM2 Asia 0.525 0.58 Hold Sum of parts
08/14/17 DBS Vickers MM2 Asia 0.465 0.6 Buy Sum of parts
08/17/17 CIMB MM2 Asia 0.475 0.58 Add Sum of parts
11/02/17 DBS Vickers MM2 Asia 0.58 0.73 Buy Sum of parts
11/06/17 CIMB MM2 Asia 0.55 0.76 Add Sum of parts
12/20/17 CIMB MM2 Asia 0.52 0.76 Add
01/05/18 DBS Vickers MM2 Asia 0.545 0.73 Buy
02/07/18 CIMB MM2 Asia 0.49 0.76 Add
02/08/18 DBS Vickers MM2 Asia 0.495 0.75 Buy Sum of parts
03/05/18 CIMB MM2 Asia 0.47 0.76 Add
03/15/18 CIMB MM2 Asia 0.505 0.74 Add Sum of parts
04/06/18 CIMB MM2 Asia 0.49 0.74 Add
04/23/18 Kim Eng MM2 Asia 0.495 0.56 Buy
05/30/18 DBS Vickers MM2 Asia 0.495 0.7 Buy Sum of parts
06/05/18 CIMB MM2 Asia 0.485 0.72 Add Sum of parts
08/15/18 DBS Vickers MM2 Asia 0.42 0.62 Buy Sum of parts
08/16/18 CIMB MM2 Asia 0.42 0.72 Add Sum of parts
08/20/18 Kim Eng MM2 Asia 0.42 0.57 Buy PEG
09/14/18 CIMB MM2 Asia 0.365 0.72 Add

MIT - Stock calls


Date Analyst Company Last Target Call Valuation
08/03/17 Kim Eng MIT 0.245 0.32 Not Rated PB1.6x
11/22/17 Lim & Tan MIT 0.245 0.32 Buy PER8x FY18
01/03/18 Lim & Tan MIT 0.26 0 Buy
07/19/18 Lim & Tan MIT 0.33 0.456 Buy

Mindchamps - Stock calls


Date Analyst Company Last Target Call Valuation
04/05/18 Amfrasers Mindchamps 0.74 0.86 Buy DCF, PER23.2x FY18
04/23/18 DMG & Partners Mindchamps 0.815 0.95 Buy EV/Ebitda19x & DCF
04/27/18 DMG & Partners Mindchamps 0.815 1 Buy EV/Ebitda19x & DCF
05/09/18 DMG & Partners Mindchamps 0.795 1 Buy EV/Ebitda19x & DCF
05/15/18 Amfrasers Mindchamps 0.78 0.86 Buy PER23.2x FY18
08/07/18 DMG & Partners Mindchamps 0.67 1 Buy
08/14/18 Amfrasers Mindchamps 0.705 0.86 Buy DCF, PER22.6x FY18
08/21/18 DMG & Partners Mindchamps 0.7 0.94 Buy
10/11/18 DMG & Partners Mindchamps 0.62 0.94 Buy

Midas - Stock calls


Date Analyst Company Last Target Call Valuation
03/01/17 OCBC Midas 0.26 0.255 Hold PB0.6x FY17
03/02/17 DBS Vickers Midas 0.245 0.36 Buy
04/10/17 DBS Vickers Midas 0.225 0.36 Buy
04/11/17 OCBC Midas 0.23 0.255 Hold
05/18/17 OCBC Midas 0.225 0.245 Hold PB0.6x FY17
05/23/17 DBS Vickers Midas 0.225 0.36 Buy
08/16/17 OCBC Midas 0.215 0.225 Hold PB0.5x FY17
08/16/17 DBS Vickers Midas 0.215 0.36 Buy PB0.8x
11/14/17 OCBC Midas 0.215 0.225 Hold

Stock calls for 7 November 2018


Date Analyst Company Last Target Call Valuation
11/07/18 DBS Vickers Breadtalk 0.925 0.98 Hold Sum of parts
11/07/18 DMG & Partners Breadtalk 0.925 0.75 Sell Sum of parts
11/07/18 phillip Dasin Retail 0.86 0.95 Accumulate DDM
11/07/18 CIMB DBS 24 27 Hold GGM, PB1.44x FY19
11/07/18 OCBC DBS 24 30.83 Buy GGM, PB1.5x
11/07/18 DMG & Partners DBS 24 29.8 Buy
11/07/18 Jefferies DBS 24 29.5 Buy PER12.5x FY19
11/07/18 phillip EC World Reit 0.685 0.82 Buy DDM
11/07/18 UOB Kay Hian Manulife US Reit 0.76 1.07 Buy DDM
11/07/18 DBS Vickers Manulife US Reit 0.76 0.88 Buy DCF
11/07/18 Kim Eng Netlink 0.78 0.93 Buy DDM
11/07/18 OCBC Netlink 0.78 0.9 Buy
11/07/18 UOB Kay Hian Singapore Medical 0.4 0.74 Buy
11/07/18 CIMB Singtel 3.17 3.7 Add Sum of parts
11/07/18 CIMB Starhub 1.96 2 Hold DCF
11/07/18 Kim Eng Starhub 1.96 2.21 Buy

Tuesday, November 6, 2018

The more the US tries to hurt China, the more it will hurt itself. Why?

The US doesn't realize that its economy and China's economy are deeply intertwined in this globalization era.

The US imports a lot of China goods and causes China to accumulate a lot of USD in which China uses to purchase the US treasuries as there is no other financial market to absorb the huge quantity of USD investments.  This is the rationale behind China being the largest foreign owner of US treasuries.  However, the largest owner of the US treasuries is actually the US FED.  This financial connection between the US and China has been working well because the US government can continue to finance its huge deficit to boost the US economy as China will always be a substantial buyer. Alas, all good things must come to an end and Trump is the president who will try to end this with his warped economic concepts.

Trump is trying to punish China by destroying China's economy with punitive tariffs.  If China economic growth starts to slow down steeply, there will be capital flights and this will cause the Chinese yuan to depreciate faster.  In order to stabilize China's economy, the Chinese government will need to buy the Chinese yuan by selling the USD.  As there is a shortage of USD in the global market now including China, China will be forced to sell its US treasuries to get USD to buy the Chinese yuan.  Subsequently, this will cause US interest rates to go up tremendously and saddle the US with higher interests.

Furthermore, China will also buy lesser US treasuries when its coffers are no longer as well stocked as before.  This will definitely increase the difficulties for the US government to raise fund as there is no other substantial buyer like China.

http://sg-stock.blogspot.com/2018/10/usd-has-supply-shortage-now.html

The US government also tries to curb China's technological industry.  However, this will only prompt China to develop and ramp up its own chips production faster, thereby, causing future chip sales losses in foreign chips manufacturers.  In the end, the US chips industry will suffer.

http://sg-stock.blogspot.com/2018/10/the-global-semiconductor-slowdown-is.html

I've only stated some simplistic relationship between the US and China for our viewers to understand but the connection is more deeply ingrained.





What's at stakes for the US mid-term election in November?

The US politicians are struggling to gain control of the house and the Senate in the mid-term November election.

Currently, the analysts are expecting the Democrats to win the House while the Republicans will retain the Senate control.  If this happens, the US will be in a gridlock and nothing bad will happen to the stock market as the US has been through a political gridlock numerous times.

However, the other negative scenario will be either party gains control of both the House and the Senate.  If Trump gains control of the two, he will continue to pursue his "American First" policies more aggressively which include protectionism and unilateralism.  If the Democrats gain control of the two, Trump will be encountering a political impasse and he will just become a useless President because the Senate and the House will reject and terminate his policies.  Either way, this will cause a lot of stock market volatilities.

Monday, November 5, 2018

Micro-Mechanics - Stock calls


Date Analyst Company Last Target Call Valuation
09/22/17 Phillip Micro-Mechanics 1.545 2 Buy PER15x FY18
10/31/17 Phillip Micro-Mechanics 2.03 2.5 Buy PER16x FY18
01/31/18 Phillip Micro-Mechanics 2.35 2.5 Accumulate
05/02/18 Phillip Micro-Mechanics 1.82 2.3 Buy PER17x FY18
07/16/18 Phillip Micro-Mechanics 1.82 2.3 Buy
08/29/18 Phillip Micro-Mechanics 1.83 2.3 Buy PER17x
11/01/18 Phillip Micro-Mechanics 1.8 2.05 Buy PER16x FY19

Metro - Stock calls


Date Analyst Company Last Target Call Valuation
05/30/17 Lim & Tan Metro 1.17 0 Hold
05/25/18 Lim & Tan Metro 1.17 0 Hold