Canada got played out by the US.

https://www.channelnewsasia.com/news/business/exclusive--china-makes-first-big-us-soybean-purchase-since-trump-xi-truce-11026362

China has started to order US Soybeans again!

US-China trade tension has de-escalated after the Huawei CFO saga but China-Canada diplomatic relationship and trades have worsened.

Canada has never learnt from the historical bad records of the USA.  The US will betray and abandon anyone or any country after achieving its own interest.  This is how the Americans are like.

What did Canada gain from this? Nothing but troubles!

China has succeeded in reducing Singapore bunker sales.

https://www.channelnewsasia.com/news/business/china-s-zhoushan-to-go-after-singapore-marine-hub-s-top-billing-11026980

https://www.spglobal.com/platts/en/market-insights/latest-news/shipping/121318-singapores-nov-bunker-fuel-sales-fall-9-on-year-to-391-mil-mt

China has been trying hard to reduce Singapore bunker sales and it has finally succeeded.

Singapore November bunker sales dropped 9% year on year.

China has detained another Canadian!

https://sg.finance.yahoo.com/news/missing-canadians-raise-stakes-china-061754223.html

China is borrowing from the US's book (National Security).

National security is becoming a common theme right now in a lot of countries.  The US can impose punitive tariffs and sanctions based on national security.  The US also can get another country (Canada) to arrest a transit passenger because of national security issues.

I don't see why China cannot arrest 2 Canadians based on national security too.

Great job, China! At least you've learnt the American way in international politics.

Tiong Seng - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
12/06/17	DBS Vickers	Tiong Seng	0.39	0.45	Not Rated	PER6.6x FY18 & PB0.6x

Tianjin Zhongxin - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/05/17	CIMB	Tianjin Zhongxin	0.975	1.3	Add	DCF FY17
08/02/17	UOB Kay Hian	Tianjin Zhongxin	1.05	1.66	Buy	PER15.5x FY18
09/05/17	UOB Kay Hian	Tianjin Zhongxin	1.13	1.66	Buy	PER15.5x FY18
10/04/17	UOB Kay Hian	Tianjin Zhongxin	1.055	1.66	Buy	PER15.5x FY18
11/02/17	UOB Kay Hian	Tianjin Zhongxin	1.03	1.5	Buy	PER14.6x FY18
01/03/18	UOB Kay Hian	Tianjin Zhongxin	0.945	1.52	Buy	PER14.1x FY18
04/02/18	UOB Kay Hian	Tianjin Zhongxin	0.92	1.66	Buy	PER14.1x FY18
04/30/18	UOB Kay Hian	Tianjin Zhongxin	1.01	1.72	Buy	PER14.1x FY18
05/21/18	UOB Kay Hian	Tianjin Zhongxin	1.2	1.72	Buy	PER14.1x FY18
06/04/18	UOB Kay Hian	Tianjin Zhongxin	1.21	1.72	Buy
07/13/18	UOB Kay Hian	Tianjin Zhongxin	1.12	1.72	Buy
09/14/18	UOB Kay Hian	Tianjin Zhongxin	0.915	1.59	Buy
10/31/18	UOB Kay Hian	Tianjin Zhongxin	0.895	1.59	Buy	PER14.1x FY18

Thai Beverage - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/04/17	CIMB	Thai Beverage	0.855	1.07	Add	Sum of parts, PER19.6x CY17
01/10/17	OCBC	Thai Beverage	0.845	1.01	Buy
01/10/17	JP Morgan	Thai Beverage	0.845	1.06	Overweight
02/02/17	OCBC	Thai Beverage	0.87	1.01	Buy
02/15/17	CIMB	Thai Beverage	0.88	1.07	Add	Sum of parts
02/16/17	DBS Vickers	Thai Beverage	0.94	1.01	Buy
03/06/17	OCBC	Thai Beverage	0.935	1.01	Buy
03/23/17	CIMB	Thai Beverage	0.925	1.07	Add	Sum of parts
03/31/17	UOB Kay Hian	Thai Beverage	0.935	1.09	Buy	Sum of parts
03/31/17	JP Morgan	Thai Beverage	0.935	1.1	Overweight
04/10/17	DBS Vickers	Thai Beverage	0.94	1.09	Buy	Sum of parts
04/10/17	DMG & Partners	Thai Beverage	0.94	1.1	Buy	Sum of parts
05/08/17	CIMB	Thai Beverage	0.91	1.07	Add	Sum of parts
05/12/17	DBS Vickers	Thai Beverage	0.915	1.09	Buy	Sum of parts
05/12/17	OCBC	Thai Beverage	0.915	1.01	Buy
05/15/17	DMG & Partners	Thai Beverage	0.885	1.1	Buy	Sum of parts
05/15/17	UOB Kay Hian	Thai Beverage	0.885	1.09	Buy	Sum of parts
05/15/17	JP Morgan	Thai Beverage	0.885	1	Overweight
06/13/17	OCBC	Thai Beverage	0.88	1.01	Buy
06/14/17	UOB Kay Hian	Thai Beverage	0.885	1.09	Buy
06/16/17	DBS Vickers	Thai Beverage	0.895	1.09	Buy
06/29/17	DBS Vickers	Thai Beverage	0.89	1.07	Buy	Sum of parts
07/03/17	DMG & Partners	Thai Beverage	0.9	1.1	Buy	Sum of parts, PER26x FY17
07/07/17	CIMB	Thai Beverage	0.91	1.07	Add	Sum of parts
07/10/17	Phillip	Thai Beverage	0.91	1.05	Accumulate	Sum of parts
07/11/17	UOB Kay Hian	Thai Beverage	0.915	1.09	Buy	Sum of parts
07/25/17	DBS Vickers	Thai Beverage	0.93	1.07	Buy	Sum of parts
08/08/17	UOB Kay Hian	Thai Beverage	0.96	1.09	Buy	Sum of parts
08/08/17	JP Morgan	Thai Beverage	0.96	1.1	Overweight
08/10/17	CIMB	Thai Beverage	0.955	1.07	Add	Sum of parts
08/10/17	DMG & Partners	Thai Beverage	0.955	1.1	Buy	Sum of parts
08/10/17	OCBC	Thai Beverage	0.955	1.01	Buy
08/11/17	DBS Vickers	Thai Beverage	0.945	1.07	Buy
08/14/17	Phillip	Thai Beverage	0.93	1.05	Accumulate	Sum of parts
08/14/17	UOB Kay Hian	Thai Beverage	0.93	1.09	Buy	Sum of parts
09/05/17	UOB Kay Hian	Thai Beverage	0.925	1.09	Buy	Sum of parts
09/18/17	OCBC	Thai Beverage	0.92	1.01	Buy
09/18/17	Credit Suisse	Thai Beverage	0.92	1.04	Outperform
09/19/17	DBS Vickers	Thai Beverage	0.915	1.07	Buy
09/20/17	DMG & Partners	Thai Beverage	0.91	1.1	Buy	Sum of parts
10/04/17	UOB Kay Hian	Thai Beverage	0.9	1.09	Buy	Sum of parts
10/13/17	DBS Vickers	Thai Beverage	0.945	1.07	Buy
10/16/17	DMG & Partners	Thai Beverage	0.94	1.12	Buy	Sum of parts
11/02/17	UOB Kay Hian	Thai Beverage	0.98	1.09	Buy	Sum of parts
11/24/17	DBS Vickers	Thai Beverage	0.94	1.07	Buy
11/27/17	CIMB	Thai Beverage	0.97	1.15	Add	Sum of parts, PER24.8x FY18
11/27/17	Phillip	Thai Beverage	0.97	1.18	Buy	Sum of parts, PER24.2x FY18
11/27/17	UOB Kay Hian	Thai Beverage	0.97	1.11	Buy	Sum of parts
11/27/17	OCBC	Thai Beverage	0.97	1.07	Buy	Sum of parts
11/27/17	CIMB	Thai Beverage	0.97	1.15	Add
12/04/17	Phillip	Thai Beverage	0.96	1.18	Buy
12/06/17	UOB Kay Hian	Thai Beverage	0.955	1.11	Buy	Sum of parts
12/13/17	Phillip	Thai Beverage	0.955	1.18	Buy	Sum of parts
12/13/17	CIMB	Thai Beverage	0.955	1.15	Add	Sum of parts
12/19/17	DBS Vickers	Thai Beverage	0.97	1.07	Buy	Sum of parts
12/20/17	CIMB	Thai Beverage	0.95	1	Hold	Sum of parts, PER22.6x CY18
12/20/17	JP Morgan	Thai Beverage	0.95	0.84	Underweight
01/04/18	UOB Kay Hian	Thai Beverage	0.915	1.11	Buy	Sum of parts
01/11/18	OCBC	Thai Beverage	0.93	1.07	Buy
01/23/18	Nomura	Thai Beverage	0.92	1.13	Buy
01/23/18	DBS Vickers	Thai Beverage	0.92	1.07	Buy
01/23/18	CIMB	Thai Beverage	0.92	1	Hold
02/01/18	UOB Kay Hian	Thai Beverage	0.92	1.06	Buy	Sum of parts
02/15/18	UOB Kay Hian	Thai Beverage	0.91	0.99	Hold	Sum of parts, Buy @ $0.84
02/15/18	CIMB	Thai Beverage	0.91	0.98	Hold	Sum of parts, PER21.8x CY18
02/19/18	DBS Vickers	Thai Beverage	0.85	1.02	Buy	Sum of parts
02/22/18	Phillip	Thai Beverage	0.835	1.05	Buy	Sum of parts
03/05/18	OCBC	Thai Beverage	0.825	0.95	Buy
03/19/18	Phillip	Thai Beverage	0.815	1.05	Buy
03/26/18	DBS Vickers	Thai Beverage	0.805	1.02	Buy
04/16/18	Phillip	Thai Beverage	0.8	1.05	Buy
05/10/18	DMG & Partners	Thai Beverage	0.83	1.06	Buy	Sum of parts
05/16/18	DBS Vickers	Thai Beverage	0.8	1.02	Buy
05/17/18	Phillip	Thai Beverage	0.795	1.05	Buy	Sum of parts
05/17/18	CIMB	Thai Beverage	0.795	0.98	Add	Sum of parts
05/17/18	OCBC	Thai Beverage	0.795	0.95	Buy
06/11/18	CIMB	Thai Beverage	0.77	0.98	Add
06/22/18	DMG & Partners	Thai Beverage	0.77	1.06	Buy
06/22/18	JP Morgan	Thai Beverage	0.77	0.73	Underweight
07/03/18	UOB Kay Hian	Thai Beverage	0.7	0.99	Buy
07/12/18	DMG & Partners	Thai Beverage	0.725	1.02	Buy	Sum of parts
07/25/18	DBS Vickers	Thai Beverage	0.74	0.94	Buy	Sum of parts
08/15/18	DBS Vickers	Thai Beverage	0.7	0.94	Buy	Sum of parts
08/15/18	JP Morgan	Thai Beverage	0.7	0.64	Underweight
08/16/18	CIMB	Thai Beverage	0.68	0.88	Add	Sum of parts
08/16/18	DMG & Partners	Thai Beverage	0.68	0.88	Buy	Sum of parts
08/16/18	OCBC	Thai Beverage	0.68	0.89	Buy
08/20/18	Phillip	Thai Beverage	0.645	0.62	Reduce	Sum of parts
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
09/14/18	CIMB	Thai Beverage	0.62	0.88	Add
09/18/18	Amfrasers	Thai Beverage	0.65	0.75	Buy	Sum of parts
09/20/18	DBS Vickers	Thai Beverage	0.65	0.94	Buy
09/21/18	DMG & Partners	Thai Beverage	0.67	0.88	Buy
10/02/18	Amfrasers	Thai Beverage	0.665	0.75	Buy	Sum of parts
10/04/18	UOB Kay Hian	Thai Beverage	0.71	0.84	Buy	Sum of parts
10/26/18	Exotix Capital	Thai Beverage	0.63	0.9	Buy
11/02/18	UOB Kay Hian	Thai Beverage	0.635	0.84	Buy
11/05/18	DBS Vickers	Thai Beverage	0.655	0.94	Buy
11/13/18	Amfrasers	Thai Beverage	0.65	0.75	Buy	Sum of parts
11/27/18	CIMB	Thai Beverage	0.67	0.88	Add	Sum of parts
11/27/18	DBS Vickers	Thai Beverage	0.67	0.87	Buy	Sum of parts
11/27/18	OCBC	Thai Beverage	0.67	0.85	Buy
11/28/18	Phillip	Thai Beverage	0.63	0.57	Reduce	Sum of parts
11/28/18	UOB Kay Hian	Thai Beverage	0.63	0.8	Buy	Sum of parts
11/28/18	DMG & Partners	Thai Beverage	0.63	0.75	Buy	Sum of parts
11/28/18	CIMB	Thai Beverage	0.63	0.73	Add	Sum of parts, PER17x
12/05/18	Amfrasers	Thai Beverage	0.625	0.75	Buy	Sum of parts

Stock calls for 13 December 2018

Date	Analyst	Company	Last	Target	Call	Valuation
12/13/18	OCBC	First Reit	1.04	1.05	Buy
12/13/18	UOB Kay Hian	Sembcorp Industries	2.61	3.41	Buy

Telechoice - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
04/10/17	NRA	Telechoice	0.27	0.34	Overweight	PER15.56x FY17
08/15/17	NRA	Telechoice	0.25	0.34	Overweight	PER16.5x FY20

Tee Land - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
01/20/17	NRA	Tee Land	0.195	0.29	Overweight
03/09/18	NRA	Tee Land	0.21	0.28	Overweight	Sum of parts

Talkmed - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
02/23/17	CIMB	Talkmed	1.385	1.82	Add	DCF
02/28/17	DMG & Partners	Talkmed	1.43	2.07	Buy	DCF, PER32x FY17
03/06/17	CIMB	Talkmed	1.49	1.83	Add
04/26/17	DMG & Partners	Talkmed	1.775	2.07	Buy	DCF, PER30x FY18
04/27/17	CIMB	Talkmed	1.73	1.83	Hold	DCF
06/29/17	DMG & Partners	Talkmed	0.645	0.73	Buy	Ex-bonus 1 for 1
10/02/17	DMG & Partners	Talkmed	0.585	0.69	Buy
11/08/17	DMG & Partners	Talkmed	0.705	0.72	Neutral	PER29x FY18
01/08/18	CIMB	Talkmed	0.69	0.68	Hold	DCF
02/21/18	DMG & Partners	Talkmed	0.675	0.72	Neutral	DCF
04/27/18	DMG & Partners	Talkmed	0.69	0.7	Neutral	DCF, PER29x FY18
11/09/18	DMG & Partners	Talkmed	0.62	0.64	Neutral

Stock calls for 12 December 2018

Date	Analyst	Company	Last	Target	Call	Valuation
12/12/18	Kim Eng	Japfa	0.735	0.99	Buy	Sum of parts
12/12/18	UOB Kay Hian	Sunningdale	1.37	1.5	Hold	PER10.6x FY19, Buy @ $1.25
12/12/18	Lim & Tan	Sunningdale	1.37	0	Buy

A public listed company has dumped blockchain investment.

https://www.straitstimes.com/business/companies-markets/accrelist-calls-off-1m-deal-to-acquire-stake-in-blockchain-firm

This is a wise move for Accrelist because blockchain is an overhyped technology.

The more you know and learn about public blockchain, the more you will avoid it.

Crypto prices have fallen further after we have posted our crypto & ICO analyses.

http://sg-stock.blogspot.com/2018/11/a-financial-analysis-on-initial-coin.html

http://sg-stock.blogspot.com/2018/09/the-private-blockchain-will-cannibalize.html

No need to squabble over the new flight path at Seletar.

https://sg.news.yahoo.com/johor-singapore-airspace-conflict-why-020011262.html

We just need to refer this to ICAO for the safety assessment.  If ICAO says it's safe, it is safe and Malaysia cannot refute the safety concerns over the new flight path at Seletar.

That's it! No need to debate anymore. If anybody wants to debate, please debate at the ICAO hearing. I believe ICAO will stand by Singapore's assessment.  Why? This is because Malaysia doesn't even know where its MH370 is now.

Canada has backed off a bit after its former diplomat is detained in China.

https://finance.yahoo.com/news/chinas-huawei-executive-bail-hearing-001907585.html

Canada has granted bail to Huawei CFO after China detains its former Canadian diplomat Michael Kovrig.

Hahaha!

Canada, why do you want to get involved in this stupid ante put up by the US?  This will hurt your trades and also your reputation.

Noble is going bankrupt soon!

https://finance.yahoo.com/news/noble-group-appoint-provisional-liquidator-101735089.html

Noble's fate is sealed after SGX blocked the new noble from relisting.

http://sg-stock.blogspot.com/2018/12/omg-noble-cannot-relist-on-sgx.html

The so-called PLAN B is detrimental to existing shareholders because the PLAN B SHARES cannot be traded publicly.  Holding a share that cannot be cashed out is definitely not good.

The PLAN B is unlikely to be accepted by the existing shareholders and bankruptcy is the only way to go for Noble.

TA Corp - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
10/02/18	NRA	TA Corp	0.24	0.35	Overweight	RNAV (33% discount)
10/03/18	Tayrona Financial	TA Corp	0.24	0.35	Overweight

Synagie - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
08/27/18	UOB Kay Hian	Synagie	0.27	0.45	Buy	Price-to-Sales 4.2x FY19
09/06/18	CIMB	Synagie	0.215	0.34	Add	Price-to-Sales 2.2x CY19

SUTL - Stock calls

Date	Analyst	Company	Last	Target	Call	Valuation
03/02/17	UOB Kay Hian	SUTL	0.665	0	Buy
03/09/17	Amfrasers	SUTL	0.77	1.09	Buy	DCF, EV/Ebitda8.8x
05/12/17	Amfrasers	SUTL	0.9	1.09	Buy
08/25/17	Amfrasers	SUTL	0.735	1.04	Buy
10/11/17	Amfrasers	SUTL	0.69	1.04	Buy

Stock calls for 11 December 2018

Date	Analyst	Company	Last	Target	Call	Valuation
12/11/18	DMG & Partners	A-Reit	2.56	2.9	Buy
12/11/18	DMG & Partners	Cache Logistics	0.7	0.84	Buy
12/11/18	DMG & Partners	CapitaCommercial	1.76	1.8	Neutral
12/11/18	DMG & Partners	Capitamall Trust	2.24	2.14	Neutral
12/11/18	DMG & Partners	CDL Hospitality	1.52	1.8	Buy
12/11/18	DBS Vickers	City Developments	8.42	9.5	Hold
12/11/18	DMG & Partners	Frasers Centrepoint Trust	2.17	2.19	Neutral
12/11/18	DMG & Partners	Frasers Commercial Trust	1.39	1.43	Neutral
12/11/18	DMG & Partners	Manulife US Reit	0.755	0.92	Buy
12/11/18	DBS Vickers	Starhill	0.67	0.75	Buy	DCF
12/11/18	DMG & Partners	Starhill	0.67	0.8	Buy
12/11/18	DMG & Partners	Suntec Reit	1.78	1.9	Neutral
12/11/18	DBS Vickers	UOL	6.15	7.15	Hold	RNAV (40% discount)

Apple Iphones are banned in China now!

https://edition.cnn.com/2018/12/10/tech/china-iphone-ban/index.html

China is brilliant to pit a US firm against another US firm (Qualcomm vs Apple).

This will give China a legitimate excuse to ban Apple iPhones after the arrest of Huawei CFO.  Apple is an iconic US firm and China has no qualm to punish any iconic US firm.

It is also easy for China to attack Microsoft for cybersecurity reason because Microsft has a backdoor access for US NSA.