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Wednesday, July 17, 2019

Bumitama - Stock calls

Date Analyst Company Last Target Call Valuation
01/03/19 UOB Kay Hian Bumitama 0.67 0.81 Buy
02/12/19 UOB Kay Hian Bumitama 0.685 0.81 Buy PER11x FY19
02/21/19 Kim Eng Bumitama 0.69 0.96 Buy
02/26/19 DMG & Partners Bumitama 0.67 0.67 Neutral PER11x FY19
02/27/19 Kim Eng Bumitama 0.675 0.97 Buy PER13x FY19
02/28/19 DBS Vickers Bumitama 0.665 0.85 Buy DCF, PER13.9x FY19
04/08/19 UOB Kay Hian Bumitama 0.725 0.81 Buy
05/15/19 UOB Kay Hian Bumitama 0.69 0.81 Buy
05/15/19 DBS Vickers Bumitama 0.69 0.8 Buy DCF, PER18x FY19
05/17/19 DMG & Partners Bumitama 0.7 0.62 Neutral
05/24/19 UOB Kay Hian Bumitama 0.69 0.81 Hold
06/06/19 DMG & Partners Bumitama 0.665 0.62 Neutral
06/27/19 UOB Kay Hian Bumitama 0.615 0.81 Buy
07/02/19 Kim Eng Bumitama 0.63 1.01 Buy
07/16/19 DBS Vickers Bumitama 0.605 0.75 Buy DCF

Breadtalk - Stock calls

Date
Analyst
Company
Last
Target
Call
Valuation
02/21/19
DBS Vickers
Breadtalk
0.88
0.92
Hold
Sum of parts
02/21/19
DMG & Partners
Breadtalk
0.88
0.81
Neutral
Sum of parts
04/05/19
DMG & Partners
Breadtalk
0.87
0.81
Neutral

05/07/19
DBS Vickers
Breadtalk
0.835
0.92
Hold

05/08/19
DMG & Partners
Breadtalk
0.825
0.81
Neutral
Sum of parts
07/02/19
DMG & Partners
Breadtalk
0.75
0.81
Neutral

Biolidics - Stock calls

Date Analyst Company Last Target Call Valuation
03/27/19 CIMB Biolidics 0.27 0.32 Add EV/Sales 12x

Stock calls for 17 July 2019

Date Analyst Company Last Target Call Valuation
07/17/19 OCBC CapitaCommercial 2.18 1.88 Sell
07/17/19 Lim & Tan CapitaCommercial 2.18 0 Hold
07/17/19 OCBC Keppel DC Reit 1.71 1.93 Buy
07/17/19 DBS Vickers Keppel DC Reit 1.71 1.9 Buy DCF
07/17/19 Kim Eng Netlink 0.885 0.94 Buy
07/17/19 Amfrasers Soilbuild Reit 0.615 0.609 Neutral DDM
07/17/19 DBS Vickers SPH Reit 1.11 1.2 Buy DCF
07/17/19 UOB Kay Hian Starhub 1.54 1.45 Sell DCF
07/17/19 OCBC Wilmar 3.83 4.26 Buy Sum of parts

Korea-Japan trade war has just begun! - Part 2

https://sg.finance.yahoo.com/news/south-korea-says-unveil-plans-234039827.html

As expected, the US has sent a senior diplomat to be a mediator between Japan and South Korea.

The US will NEVER let this KR-JP trade war destroy its strategic alliance in the South China Sea.  The US needs Japan and South Korea to work together to contain China.  Therefore, the US will exert political pressures on both countries to resolve their issues.

https://sg-stock.blogspot.com/2019/07/korea-japan-trade-war-has-just-begun.html

Singapore Nodx fell 17.3% in June 2019.

https://sg.finance.yahoo.com/news/1-singapore-exports-drop-most-012835741.html
Year on year changes (YOY):
June 2019: -17.3%
May 2019: -15.9%
April 2019: -10%
March 2019: -11.7%
February 2019: 4.9%
January 2019: -10.1%
December 2018: -8.5%
November 2018: -2.6%
October 2018: 8.3%
September 2018: 8.3%
August 2018: 5%
July 2018: 11.8% (Corrected)
June 2018: 1.1%
May 2018: 15.5%
April 2018: 11.8%
March 2018: -2.7%
February 2018: -5.9%
January 2018: 13%
December 2017: 3.1%
November 2017: 9.1%
October 2017: 20.9%
September 2017: -1.1%
August 2017: 16.7%
July 2017: 8.5%
June 2017: 8.2%
May 2017: -1.2%
Apr 2017: -0.7%
Mar 2017: 16.5%
Feb 2017: 21.1%
Jan 2017: 8.6%

Tuesday, July 16, 2019

Singapore likes to offend ASEAN countries nowadays!

https://sg.news.yahoo.com/myanmar-nationals-stage-protest-outside-singapore-embassy-in-us-capital-080651137.html

Mynamar is staging a protest outside SG embassy in the USA.

Singapore likes to offend ASEAN countries nowadays.  After offending Vietnam and Cambodia, SG has moved on to offend Myanmar.  Maybe our government is too free nowadays to make our presence felt in ASEAN by offending other ASEAN members.

http://sg-stock.blogspot.com/2019/06/many-analysts-were-dead-wrong-about.html

Best World - Stock calls

Date Analyst Company Last Target Call Valuation
02/28/19 DMG & Partners Best World 2.56 2.95 Buy DCF & PER18x
02/28/19 CIMB Best World 2.56 2.43 Reduce PER14.9x CY20
04/05/19 DMG & Partners Best World 2.02 2.95 Buy
04/16/19 CLSA Best World 1.77 1.75 Sell Up from $1.29
04/26/19 DMG & Partners Best World 1.62 0 Cease Coverage Suspension

Banyan Tree - Stock calls

Date Analyst Company Last Target Call Valuation
03/11/19 phillip Banyan Tree 0.57 0.76 Accumulate Sum of parts, PB0.72x FY19
05/22/19 phillip Banyan Tree 0.535 0.76 Accumulate Sum of parts, PB0.7x FY19

Avi-Tech - Stock calls

Date Analyst Company Last Target Call Valuation
01/07/19 DMG & Partners Avi-Tech 0.3 0.34 Neutral
02/14/19 DMG & Partners Avi-Tech 0.29 0.3 Neutral DCF
03/19/19 DMG & Partners Avi-Tech 0.29 0.3 Neutral
07/16/19 DMG & Partners Avi-Tech 0.28 0.27 Neutral DCF

Stock calls for 16 July 2019

Date Analyst Company Last Target Call Valuation
07/16/19 UOB Kay Hian ARA Hospitality 0.885 1.15 Buy
07/16/19 DMG & Partners Avi-Tech 0.28 0.27 Neutral DCF
07/16/19 DBS Vickers Bumitama 0.605 0.75 Buy DCF
07/16/19 DBS Vickers First Resources 1.55 1.82 Buy DCF
07/16/19 UOB Kay Hian Frasers Centrepoint Trust 2.62 2.72 Buy
07/16/19 DBS Vickers Indofood Agri 0.325 0.33 Hold
07/16/19 DBS Vickers Keppel Infrastructure 0.505 0.58 Buy DDM
07/16/19 CIMB Keppel Reit 1.26 1.41 Add DDM
07/16/19 DMG & Partners Keppel Reit 1.26 1.2 Neutral DDM
07/16/19 UOB Kay Hian Keppel Reit 1.26 1.37 Buy
07/16/19 DBS Vickers Keppel Reit 1.26 1.45 Buy DCF
07/16/19 Lim & Tan Keppel Reit 1.26 0 Hold
07/16/19 Kim Eng Sheng Siong 1.09 0.95 Sell DCF
07/16/19 CIMB SPH 2.32 2.22 Hold Sum of parts
07/16/19 DBS Vickers SPH 2.32 2.22 Hold
07/16/19 Kim Eng SPH Reit 1.1 1.05 Hold DDM
07/16/19 CIMB Venture 15 15.73 Hold PER125.x CY20
07/16/19 CIMB Wilmar 3.83 5.54 Add
07/16/19 DBS Vickers Wilmar 3.83 4.3 Buy Sum of parts, PER16.2x FY20

The US-China trade war impacts on both countries in 2019

China 1st Qtr and 2nd Qtr GDP:
1st Qtr: 6.4%
2nd Qtr: 6.2%

USA 1st Qtr and 2nd Qtr GDP:
1st Qtr: 3.1%
2nd Qtr: 1.5% (Forecast by New York Fed)

It is pretty obvious who suffers more in a US-China trade war.  The 2nd QTR GDP figure for the US will decline by more than 50% from the 1st QTR.

The US total debt is at US$69T now!

https://sg.finance.yahoo.com/news/number-day-global-debt-grows-221006381.html

US$69T!!!!!!!!

The US is never going to repay this debt but only will roll over and build up more debts.

How much more do you think the US can increase its debt level?

The day of reckoning will come and when it does come, it will be very severe.

Monday, July 15, 2019

China sanctioned US companies!

https://www.channelnewsasia.com/news/business/china-says-will-freeze-out-us-companies-that-sell-taiwan-arms-11721442

US defence contractors such as Honeywell and General Dynamics will be sanctioned by China.  If China extends the sanctions to their suppliers, their businesses will be severely affected because their suppliers will stop supplying to the US defence contractors.  China is just taking a leaf out of the US's book because the US did the same thing to Huawei and China ZTE.

If the US can unilaterally sanction a foreign company, China can do the same too.

The US has failed to recognise that China is not the same China anymore.

Singapore and Taiwan relationship will get closer in 2020.

Kaohsiung Mayor Han has been declared as the official presidential candidate by KMT for Taiwan presidential election in 2020.

I predict that Mayor Han will win the presidential election in 2020.

http://sg-stock.blogspot.com/2019/03/hot-news-ntuc-sheng-siong-and-prime.html

We had stated previously that he would be a potential presidential candidate and SG-TW relationship would become closer once he became Taiwan president.

Ascendas India Trust - Stock calls

Date Analyst Company Last Target Call Valuation
01/25/19 Jefferies Ascendas India Trust 1.08 1.2 Buy
01/28/19 DBS Vickers Ascendas India Trust 1.08 1.25 Buy DDM
02/08/19 DBS Vickers Ascendas India Trust 1.13 1.25 Buy
04/29/19 DBS Vickers Ascendas India Trust 1.27 1.4 Buy DDM

Ascendas Hospitality Trust - Stock calls

Date Analyst Company Last Target Call Valuation
01/30/19 DBS Vickers Ascendas Hospitality Trust 0.835 0.98 Buy DCF

ART - Stock calls

Date Analyst Company Last Target Call Valuation
01/10/19 OCBC ART 1.1 1.18 Buy
01/10/19 CIMB ART 1.1 1.13 Hold DDM
01/11/19 DBS Vickers ART 1.11 1.25 Buy
01/30/19 OCBC ART 1.19 1.25 Buy
01/30/19 DBS Vickers ART 1.19 1.35 Buy DCF
03/05/19 OCBC ART 1.14 1.25 Buy
03/05/19 CIMB ART 1.14 1.15 Hold
03/29/19 Lim & Tan ART 1.18 0 Hold BV
04/09/19 Phillip ART 1.18 1.36 Buy DDM, PB0.94x FY19
04/12/19 UOB Kay Hian ART 1.2 1.46 Buy DDM
04/15/19 OCBC ART 1.2 1.25 Hold
05/02/19 OCBC ART 1.2 1.25 Hold
05/02/19 UOB Kay Hian ART 1.2 1.46 Buy
05/03/19 DBS Vickers ART 1.2 1.35 Buy DCF
05/06/19 Phillip ART 1.21 1.36 Buy DDM
06/10/19 UOB Kay Hian ART 1.27 1.46 Buy
06/19/19 Phillip ART 1.31 1.36 Buy
06/25/19 OCBC ART 1.3 1.25 Hold
07/04/19 OCBC ART 1.28 1.31 Hold
07/04/19 CIMB ART 1.28 1.15 Hold DDM
07/04/19 UOB Kay Hian ART 1.28 1.46 Buy
07/05/19 Phillip ART 1.31 1.36 Accumulate DDM

Stock calls for 15 July 2019

Date Analyst Company Last Target Call Valuation
07/15/19 Phillip APAC Realty 0.545 0.65 Buy DCF
07/15/19 Phillip Capitaland 3.69 4 Accumulate
07/15/19 CIMB Capitaland 3.69 4.15 Add RNAV (35% discount)
07/15/19 OCBC Capitaland 3.69 4.04 Buy
07/15/19 UOB Kay Hian CDL Hospitality 1.65 2.06 Buy
07/15/19 OCBC City Developments 9.47 10.68 Buy
07/15/19 phillip Comfortdelgro 2.81 2.99 Accumulate DCF
07/15/19 UOB Kay Hian Fu Yu 0.215 0.29 Buy
07/15/19 OCBC Hotel Properties 3.69 4.74 Buy
07/15/19 Phillip Netlink 0.88 0.93 Accumulate DCF
07/15/19 OCBC Roxy-Pacific 0.385 0.41 Hold
07/15/19 UOB Kay Hian SATS 5.37 5.05 Sell
07/15/19 phillip SGX 7.99 8.09 Accumulate PER21.4x
07/15/19 phillip Sheng Siong 1.1 1.3 Buy PER25x
07/15/19 Phillip Singtel 3.54 3.66 Accumulate Sum of parts
07/15/19 UOB Kay Hian SPH 2.49 2.33 Hold Sum of parts
07/15/19 OCBC SPH Reit 1.1 1.05 Hold
07/15/19 UOB Kay Hian ST Engineering 4.29 4.7 Buy
07/15/19 OCBC UOL 7.61 8.5 Buy
07/15/19 DBS Vickers Venture 14.9 18.6 Buy PER13.7x FY20
07/15/19 UOB Kay Hian Venture 14.9 17.91 Hold
07/15/19 DMG & Partners Wilmar 3.76 4.5 Buy Sum of parts
07/15/19 OCBC Wing Tai 2.07 2.41 Buy
07/15/19 OCBC Yanlord 1.32 1.68 Buy

Saturday, July 13, 2019

Baltic dry index - 1865

Today, Friday, July 12 2019, the Baltic Dry Index climbed by 49 points, reaching 1865 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 stock: Sembcorp Marine, Cosco & Pan ocean.