| Date | Analyst | Company | Last | Target | Call | Valuation |
| 02/27/19 | DBS Vickers | Koufu | 0.63 | 0.8 | Buy | PER17x FY19 |
| 03/08/19 | UOB Kay Hian | Koufu | 0.67 | 0.95 | Buy | PER18.1x FY19 |
| 03/08/19 | Lim & Tan | Koufu | 0.67 | 0.85 | Buy | PER18x FY19 |
| 04/08/19 | UOB Kay Hian | Koufu | 0.805 | 0.95 | Buy | |
| 05/07/19 | DBS Vickers | Koufu | 0.77 | 0.8 | Hold | PER17x FY19 |
| 05/09/19 | UOB Kay Hian | Koufu | 0.75 | 0.95 | Buy |
Thursday, May 30, 2019
Koufu - Stock calls
Kimly - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/07/19 | DMG & Partners | Kimly | 0.24 | 0.27 | Neutral | |
| 02/14/19 | DMG & Partners | Kimly | 0.245 | 0.24 | Neutral | DCF |
| 04/05/19 | DMG & Partners | Kimly | 0.24 | 0.24 | Neutral | |
| 05/09/19 | DMG & Partners | Kimly | 0.245 | 0.23 | Neutral | DCF |
Keppel Reit - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/22/19 | DBS Vickers | Keppel Reit | 1.18 | 1.31 | Buy | DCF |
| 01/22/19 | CIMB | Keppel Reit | 1.18 | 1.34 | Add | DDM |
| 01/22/19 | DMG & Partners | Keppel Reit | 1.18 | 1.06 | Neutral | DDM |
| 01/28/19 | UOB Kay Hian | Keppel Reit | 1.18 | 1.35 | Buy | |
| 03/07/19 | UOB Kay Hian | Keppel Reit | 1.28 | 1.35 | Buy | DDM |
| 03/18/19 | DMG & Partners | Keppel Reit | 1.23 | 1.06 | Neutral | |
| 04/01/19 | UOB Kay Hian | Keppel Reit | 1.29 | 1.35 | Buy | DDM |
| 04/18/19 | DMG & Partners | Keppel Reit | 1.24 | 1.12 | Neutral | DDM |
| 04/18/19 | DBS Vickers | Keppel Reit | 1.24 | 1.38 | Buy | DCF |
| 04/18/19 | Lim & Tan | Keppel Reit | 1.24 | 0 | Hold | |
| 04/24/19 | UOB Kay Hian | Keppel Reit | 1.21 | 1.37 | Buy | DDM |
| 04/24/19 | DBS Vickers | Keppel Reit | 1.21 | 1.4 | Buy | DCF |
| 04/25/19 | CIMB | Keppel Reit | 1.23 | 1.34 | Add | DDM |
| 05/30/19 | UOB Kay Hian | Keppel Reit | 1.21 | 1.37 | Buy |
Stock calls for 30 May 2019
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 05/30/19 | UOB Kay Hian | CapitaCommercial | 1.95 | 2.16 | Buy | |
| 05/30/19 | phillip | Clearbridge | 0.149 | 0.28 | Buy | DCF |
| 05/30/19 | DMG & Partners | Dairy Farm | 7.83 | 8.25 | Neutral | DCF |
| 05/30/19 | UOB Kay Hian | Keppel Reit | 1.21 | 1.37 | Buy | |
| 05/30/19 | OCBC | Sembcorp Marine | 1.45 | 1.6 | Hold | PB1.45x |
| 05/30/19 | OCBC | Suntec Reit | 1.82 | 1.99 | Hold | Buy @ $1.81 |
The US broke promise on South China Sea.
https://www.channelnewsasia.com/news/asia/president-xi-jinping-broke-promise-on-south-china-sea-us-general-11578314
It was the US who broke the promise on the South China Sea. We reported this in our previous post below.
http://sg-stock.blogspot.com/2018/11/a-1947-map-showed-that-south-china-sea.html
Furthermore, it was the US Navy that accompanied China to reclaim the South China Sea islands after WW2. China has the documentation and pictures to prove this reclamation in the South China Sea. Who wouldn't take pictures of this historical event back then?
It was the US who broke the promise on the South China Sea. We reported this in our previous post below.
http://sg-stock.blogspot.com/2018/11/a-1947-map-showed-that-south-china-sea.html
Furthermore, it was the US Navy that accompanied China to reclaim the South China Sea islands after WW2. China has the documentation and pictures to prove this reclamation in the South China Sea. Who wouldn't take pictures of this historical event back then?
A pro-China Malaysia is a threat to Singapore economically. Why?
https://www.asiaone.com/malaysia/mahathir-says-malaysia-will-use-huawei-much-possible
A pro-China Malaysia is a threat to SG because it will render SG a less strategic partner to China.
Currently, China trusts Malaysia more than SG despite having some hiccups with Malaysia. The ECRL, BKK-KL HSR and Melaka Gateway projects display the strategic alliance and trust between China and Malaysia. Furthermore, Malaysia has bought China military armaments while SG has not because the US doesn't allow it.
Although SG is a Chinese majority country and Chinese-speaking nation, China trusts a Malay-speaking Malaysia more than SG now. Speaking the same language used to be an advantage but China had become smarter. China only believes in what you do, not what you say anymore. This puts SG in a much lower priority than Malaysia since actions speak louder than words. Thus, a pro-China Malaysia will start to erode SG economically over time.
A pro-China Malaysia is a threat to SG because it will render SG a less strategic partner to China.
Currently, China trusts Malaysia more than SG despite having some hiccups with Malaysia. The ECRL, BKK-KL HSR and Melaka Gateway projects display the strategic alliance and trust between China and Malaysia. Furthermore, Malaysia has bought China military armaments while SG has not because the US doesn't allow it.
Although SG is a Chinese majority country and Chinese-speaking nation, China trusts a Malay-speaking Malaysia more than SG now. Speaking the same language used to be an advantage but China had become smarter. China only believes in what you do, not what you say anymore. This puts SG in a much lower priority than Malaysia since actions speak louder than words. Thus, a pro-China Malaysia will start to erode SG economically over time.
How did the US fudge the US-China trade data?
The US claimed that it exported US$120B goods to China in 2018 but excluded the US$37.5B HK exports. HK is part of China but the US doesn't include the HK trade data in the US-China trade data. Furthermore, the US also didn't include the exported US services to China (US$72B including HK) because it wanted to exaggerate the US-China trade deficit.
For your information, I culled and calculated the aforesaid figures from the US census bureau website.
Thus, in total, the US exported US$229.5B worth of goods and services to China in 2018 which was almost double the trade figure that was stated by the US.
The US also will exclude military sales from the trade data and this exclusion will benefit the US since it is a large military weapons exporter. The US-SG goods trade deficit in 2018 was US$5.9B but the US-SG services trade surplus was US$12.4B. Therefore, the US had a trade surplus of US$6.5B (nett figure) with SG in 2018. However, this US trade surplus of US$6.5B was an understatement because SG bought a lot of US military weapons which were excluded from the trade data.
https://ustr.gov/countries-regions/southeast-asia-pacific/singapore
The ungrateful US keeps talking about the US-SG goods trade deficit and puts SG on its currency watchlist without any valid reason. Who is the real victim here when SG has a total trade deficit of US$6.5B with the US (excludes military sales)?
http://sg-stock.blogspot.com/2019/05/the-us-is-targeting-singapore-malaysia.html
For your information, I culled and calculated the aforesaid figures from the US census bureau website.
Thus, in total, the US exported US$229.5B worth of goods and services to China in 2018 which was almost double the trade figure that was stated by the US.
The US also will exclude military sales from the trade data and this exclusion will benefit the US since it is a large military weapons exporter. The US-SG goods trade deficit in 2018 was US$5.9B but the US-SG services trade surplus was US$12.4B. Therefore, the US had a trade surplus of US$6.5B (nett figure) with SG in 2018. However, this US trade surplus of US$6.5B was an understatement because SG bought a lot of US military weapons which were excluded from the trade data.
https://ustr.gov/countries-regions/southeast-asia-pacific/singapore
The ungrateful US keeps talking about the US-SG goods trade deficit and puts SG on its currency watchlist without any valid reason. Who is the real victim here when SG has a total trade deficit of US$6.5B with the US (excludes military sales)?
http://sg-stock.blogspot.com/2019/05/the-us-is-targeting-singapore-malaysia.html
Rare earth processing is not so easy.
https://sg.finance.yahoo.com/news/china-set-control-rare-earth-011355016.html
Rare earth processing is an esoteric industry because it is highly toxic and will pollute the environment. Furthermore, there are very few talented people who possess such knowledge.
It is estimated that there are about 100 PHD holders in this specialized field in China. However, there is no such talent outside of China. This is the reason that China is able to dominate this field with its rare earth processing knowledge. Thus, the US must be stealing information and knowledge from China if it is able to develop any advanced processing capability.
Rare earth processing is an esoteric industry because it is highly toxic and will pollute the environment. Furthermore, there are very few talented people who possess such knowledge.
It is estimated that there are about 100 PHD holders in this specialized field in China. However, there is no such talent outside of China. This is the reason that China is able to dominate this field with its rare earth processing knowledge. Thus, the US must be stealing information and knowledge from China if it is able to develop any advanced processing capability.
Wednesday, May 29, 2019
MAS's response to US watchlist report will not get SG off the list.
https://sg.finance.yahoo.com/news/mas-responds-to-us-report-says-it-does-not-engage-in-currency-manipulation-070614263.html
It is a common knowledge in the world that SG uses currency and not interest rates policy to manage its economy. Therefore, it is pointless to respond to the US watchlist report because the US won't listen due to its unilateralism culture. SG is partly to blame for grooming the unilateralism mindset in the US because we've been supporting and pursuing US political interests. The day of reckoning is here and we've only ourselves to blame.
http://sg-stock.blogspot.com/2019/05/the-us-is-targeting-singapore-malaysia.html
It is a common knowledge in the world that SG uses currency and not interest rates policy to manage its economy. Therefore, it is pointless to respond to the US watchlist report because the US won't listen due to its unilateralism culture. SG is partly to blame for grooming the unilateralism mindset in the US because we've been supporting and pursuing US political interests. The day of reckoning is here and we've only ourselves to blame.
http://sg-stock.blogspot.com/2019/05/the-us-is-targeting-singapore-malaysia.html
Keppel KBS - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/02/19 | DBS Vickers | Keppel KBS | 0.61 | 0.78 | Buy | DCF |
| 01/28/19 | DBS Vickers | Keppel KBS | 0.68 | 0.8 | Buy | DCF |
| 04/03/19 | DBS Vickers | Keppel KBS | 0.705 | 0.8 | Buy |
Keppel Infrastructure - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/23/19 | DBS Vickers | Keppel Infrastructure | 0.515 | 0.58 | Buy | DDM |
| 03/15/19 | Lim & Tan | Keppel Infrastructure | 0.485 | 0 | Hold | |
| 04/16/19 | DBS Vickers | Keppel Infrastructure | 0.48 | 0.58 | Buy | DDM |
Keppel DC Reit - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/04/19 | Phillip | Keppel DC Reit | 1.36 | 1.45 | Accumulate | |
| 01/23/19 | Phillip | Keppel DC Reit | 1.44 | 1.52 | Accumulate | DDM |
| 01/23/19 | CIMB | Keppel DC Reit | 1.44 | 1.51 | Add | DDM |
| 01/23/19 | OCBC | Keppel DC Reit | 1.44 | 1.6 | Buy | |
| 01/23/19 | DBS Vickers | Keppel DC Reit | 1.44 | 1.6 | Buy | DCF |
| 02/15/19 | Phillip | Keppel DC Reit | 1.45 | 1.52 | Accumulate | |
| 03/12/19 | OCBC | Keppel DC Reit | 1.44 | 1.6 | Buy | |
| 04/08/19 | Amfrasers | Keppel DC Reit | 1.47 | 1.62 | Buy | DDM |
| 04/09/19 | CIMB | Keppel DC Reit | 1.48 | 1.54 | Add | DDM |
| 04/16/19 | OCBC | Keppel DC Reit | 1.49 | 1.64 | Buy | |
| 04/16/19 | Lim & Tan | Keppel DC Reit | 1.49 | 0 | Hold | |
| 04/18/19 | Phillip | Keppel DC Reit | 1.49 | 1.59 | Accumulate | DDM, PB1.37x FY19 |
| 05/02/19 | Amfrasers | Keppel DC Reit | 1.51 | 1.62 | Buy |
Stock calls for 29 May 2019
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 05/29/19 | phillip | Geo Energy | 0.148 | 0.15 | Neutral | PER10x |
| 05/29/19 | Kim Eng | Manulife US Reit | 0.86 | 1 | Buy | DDM |
The US is targeting Singapore, Malaysia and Vietnam for the trade war now.
https://finance.yahoo.com/news/singapore-malaysia-vietnam-added-u-030842267.html
Vietnam will definitely be slaughtered by the US in the future because of its burgeoning trade surpluses with the US. The trade surplus will keep increasing because many foreign companies are using Vietnam as a manufacturing base.
Singapore is the most aggrieved party because SG uses its currency as a monetary tool since the small population and international trading render the interest rate policy as ineffective in managing its economy. SG will suffer greatly if the US sanctions us because we cannot use interest rate policy to manage our economy.
Malaysia is being punished because it is getting pro-China and is an Islamic country. The western superpower doesn't like Muslims at all.
Vietnam will definitely be slaughtered by the US in the future because of its burgeoning trade surpluses with the US. The trade surplus will keep increasing because many foreign companies are using Vietnam as a manufacturing base.
Singapore is the most aggrieved party because SG uses its currency as a monetary tool since the small population and international trading render the interest rate policy as ineffective in managing its economy. SG will suffer greatly if the US sanctions us because we cannot use interest rate policy to manage our economy.
Malaysia is being punished because it is getting pro-China and is an Islamic country. The western superpower doesn't like Muslims at all.
Tuesday, May 28, 2019
Malaysia was glad that the US didn't sign the TPP agreement.
https://sg.news.yahoo.com/malaysia-send-3-000-tonnes-plastic-waste-back-074356147.html
If Malaysia were part of the original TPP, it couldn't send back or sue the US and Japan for dumping waste in its homeland.
http://sg-stock.blogspot.com/2017/05/fearmongering-by-western-media.html
Malaysia would need to compensate the US and Japan for their losses under the original TPP.
What a relief for Malaysia!
If Malaysia were part of the original TPP, it couldn't send back or sue the US and Japan for dumping waste in its homeland.
http://sg-stock.blogspot.com/2017/05/fearmongering-by-western-media.html
Malaysia would need to compensate the US and Japan for their losses under the original TPP.
What a relief for Malaysia!
Federal express (FedEx) is also a US state agent!
https://sg.finance.yahoo.com/news/exclusive-huawei-reviewing-fedex-relationship-says-packages-diverted-185215043--finance.html
FedEx is also a US state agent and is working discreetly with the US government to channel China posts and packages to the US.
The lame excuse of rerouting error is really ridiculous because it is an expensive error to make to reroute to the US.
FedEx is also a US state agent and is working discreetly with the US government to channel China posts and packages to the US.
The lame excuse of rerouting error is really ridiculous because it is an expensive error to make to reroute to the US.
Keppel Corp - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/04/19 | OCBC | Keppel Corp | 5.81 | 7.25 | Buy | Sum of parts |
| 01/10/19 | DIR | Keppel Corp | 6.18 | 7.15 | Buy | Cut from $7.86, Sum of parts |
| 01/23/19 | CIMB | Keppel Corp | 6.17 | 8.28 | Add | |
| 01/25/19 | OCBC | Keppel Corp | 6.13 | 7.55 | Buy | |
| 01/25/19 | CIMB | Keppel Corp | 6.13 | 8.41 | Add | Sum of parts |
| 01/28/19 | Lim & Tan | Keppel Corp | 6.2 | 0 | Hold | |
| 01/29/19 | Amfrasers | Keppel Corp | 6.14 | 7.5 | Hold | |
| 01/29/19 | Macquarie | Keppel Corp | 6.14 | 8.2 | Outperform | Sum of parts |
| 02/21/19 | CIMB | Keppel Corp | 6.32 | 8.41 | Add | Sum of parts |
| 03/12/19 | Lim & Tan | Keppel Corp | 6.1 | 0 | Hold | |
| 03/26/19 | CIMB | Keppel Corp | 6.17 | 8.41 | Add | |
| 04/15/19 | CIMB | Keppel Corp | 6.62 | 8.41 | Add | Sum of parts |
| 04/22/19 | OCBC | Keppel Corp | 6.74 | 7.83 | Buy | |
| 04/22/19 | Lim & Tan | Keppel Corp | 6.74 | 0 | Hold | |
| 05/08/19 | CIMB | Keppel Corp | 6.72 | 8.41 | Add | Sum of parts |
Jumbo - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 02/15/19 | DBS Vickers | Jumbo | 0.415 | 0.44 | Hold | PER23x FY19 |
| 02/15/19 | CIMB | Jumbo | 0.415 | 0.52 | Add | PER21x FY20 |
| 02/18/19 | UOB Kay Hian | Jumbo | 0.415 | 0.41 | Hold | Buy @ $0.37 |
| 03/14/19 | UOB Kay Hian | Jumbo | 0.405 | 0.41 | Hold | PER20x FY19, Buy @ $0.37 |
| 03/29/19 | DBS Vickers | Jumbo | 0.395 | 0.5 | Buy | PER23x FY19/20 |
| 05/16/19 | DBS Vickers | Jumbo | 0.405 | 0.51 | Buy | PER23x FY19 |
| 05/16/19 | UOB Kay Hian | Jumbo | 0.405 | 0.41 | Hold | PER20x FY19, Buy @ $0.37 |
| 05/16/19 | CIMB | Jumbo | 0.405 | 0.52 | Add | PER21x FY20 |
Jardine C&C - Stock calls
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 01/04/19 | DBS Vickers | Jardine C&C | 35.28 | 43.1 | Buy | |
| 05/02/19 | DBS Vickers | Jardine C&C | 35.52 | 39.1 | Buy | Sum of parts (16% discount) |
Stock calls for 28 May 2019
| Date | Analyst | Company | Last | Target | Call | Valuation |
| 05/28/19 | CIMB | Comfortdelgro | 2.45 | 2.82 | Add | |
| 05/28/19 | CIMB | CSE Global | 0.475 | 0.6 | Add | |
| 05/28/19 | CIMB | Golden Agri | 0.26 | 0.23 | Reduce | Sum of parts (10% discount) |
| 05/28/19 | UOB Kay Hian | Golden Agri | 0.26 | 0.21 | Sell | |
| 05/28/19 | CIMB | Mapletree Commercial | 1.93 | 2.03 | Add | |
| 05/28/19 | CIMB | Suntec Reit | 1.82 | 2.06 | Add | |
| 05/28/19 | OCBC | Thai Beverage | 0.805 | 0.86 | Hold |
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